The Sun.
London, England, 1866-08-18 00:00:00

EAGLE INSURANCE COMPANY, London
REPORT OF THE DIRECTORS,
For the year ending 30th June, 1866, read at the ANNUAL
GENERAL MEETING, 10th August, 1863.
CHARLES CHATFIELD, Esq., in the chair.
The. Directors have the satisfaction of reporting to the
proprietors that, in pursuance of the resolutions unani-
mously passed at the Special General Meeting held in
April last, the amalgamation of the National Mercantile
Assurance Society with the Eagle has been carried into
effect, and two of the directors of that society-,Mr. Wil-
coxon (heretofore the cLairman), and Mr. William Fre-
derick De la Rue—now occupy seats at the Eagle Board.
The following account exhibits the increased income
and outgoing of the year arising from the junction, which
it may be remembered takes effect retrospectively, and the
balance-sheet shows the assets as they existed on the 30th
June last, augmented by those just transferred.
By the Surplus Fund account it will be seen that the
total income from premiums and interest is .£483,376*05.
11d., and the total outgoing £414,790 13s. 6d. The dif-
ference, £68,585 7s. 5d., and the surplus fund contributed
by the amalgamated society, viz., £151,545 Ss. 6d., increase
the surplus fund of the company to £899,095 Bs. -
The premiums on new assurances are considerably
less than those of the foregoing year ; but at the same
Time a much smaller portion of them has been devoted to
re-assurance.

The change in the financial position of the Company
precludes an exact comparison with former years. The
expenses of management of the Eagle for the year are al-
most identical in amount with those of the last. The ex-
penses of the National Mercantile Society will, of course,
henceforth cease.

Deducting the several items payable on demand, or at
an early maturity, the realised assets, as set forth in the
balance sheet, amount to £2,559,135 4s. Bd. Of this sum
£178,340 belongs exclusively to the proprietors, £1,481,699
16s. Bd.* exclusively to the policy holders, and £899,095 Bs.
partly to the one and partly to the other. The last two
items subject, of course, to exact adjustment at each quin-
quennial investigation.
It remains only for the Directors to mention that, since
the last annual meeting the Company has lost, by the de-
cease of Sir William Gore Ouseley, and by the retirement
of Mr. Gould, the services of two of the members .of the
board. Both gentlemen were much respected, and it is
with great regret that the directors have to make this an-
nouncement. _

* £5,880,163 14s. 4d., less £4,398,463 17s. Bd.

SURPLUS FUND ACCOUNT.
Dn. INCOME OP THE YEAR.
Balance of Account, 30th
June 1865
_078,964 12 1
Ditto Nationalllerc,antile
Society ••• „. 151,545 8 6

Premiums on new as- £830,510 0 7
surances ... 21,553 18 10
Ditto old ditto 354,800 3 7

' 376,354 2 5
Interest from Investments 107,021 18 6

Total income ... ...

483,376 0 11

£1,313,886 1 6
CR. CHARGE OF THE TEAR.
Dividend to Proprietors ... £9,420 17 6
Claims on decease of lives
assured, &c. ...X265,399 3 6
Additions to those under
participating policies... 22,574 13 7
Policies surrendered ... 23,289 5 5
Reassurances, new ... 6,951 16 5
Ditto, old ... 55,344 12 10

373,559 11 9
Commission 10,405 0 10
Medical fees ... 892 14 4
Income tax ... 2,017 17 3
Expenses of management 12,482 10 8
Ditto National Mercantile
Society

... 6,012 1 2

405,36916 0

Total charge 414,790 13 6
Balance of account, 30th June, 1866, as below 899,095 8 0