The Sun.
London, England, 1857-01-21 00:00:00

PROVIDENT CLERKS' MUTUAL LIFE ASSUR•
:7 ANCE ASSOCIATION.

The 16th annual general meeting of this excellent in-
.titution was held on Monday evening, at the London
Tavern, Bishopsga.te..treet ; R. H. Jones, Esq., in the
chair. There was a very full attendance of members.
The SECRETARY having read the notice convening the
meeting, read also the following report :

" In presenting their sixteenth annual report of the Life
Assurance Department, the board are happy in being able
to congratulate the members on the increased prosperity of
the association, the business for the past year having been
of a highly satisfactory character :
'730 policies for a total sum of £L+;6,2Bo
have been completed during the year.
14 proposals for 3,000
have been declined, and there are de-
ferred or waiting completion,
384 proposals for

£140,345
" The annual income arising from new assurances effected
in 1856 is 3,2821.
" The claims by death have been considerably below the
average of mortality on which the tables are computed :-
38 policies are assured upon 31 lives, for a total sum of
7,3 )8/. 165., have become claims during the past year, being
ices by 3,5031. Is., than the amount of the same item dur-
ing the preceding twelve mouths.
" The result of the year's operations has been to increase
the balance in favour of the association by 12,8011. 14s.
Si.,, and the amount now invested, after providing for all
outstanding claims, is 82,925/. 3s. ld.
"The policies issued since the commencement•of the
association are 5,679 in number, covering assurances for
1,064,0951., of which there are still in existence 4,375
policies for 809,0651.
" The large increase in the number of new policies will
not fail to attract the attention of the members, and on
this head the board have much pleasure in reporting thr.t
they have bean enabled to secure a considerable number of
assurers among the employis of an important Government
department, and they have recently completed ramose.
meats with the directors of a large and influential public
company for the assurance of their employes. A valuable
accession of business has thus been obtained, and from the
importance of the connections thereby established still
further advantages may reasonably be expected to accrue

to the association.
" With a view to extend as much as possible the in-
fluence of the association, the board have devoted great
attention to the agencies, and they have much pleasure in
acknowledging the able manner i❑ which their views have
in many instances baen seconded by the agents. With re-
ference to the same subject, and iu accordance with urgent
representations received from Manchester, a branch office
has been established in that city, under the local superin-
tendence of gentlemen from whose energy and influence
the most favourable results are hoped.
"The alteration of rales rendered necessary by the acts
of Parliament referred to in their last report has engaged
the earnest attention of the board, who had intended to
call the members together during the past year, but, from
various unlooked for circumstances, it was found impracti-
cable to do so. The board have, however, now to state
that the rules are ready for adoption, and that a special
general meeting of the members will be called for that
purpose at an early period.
"The subject of a change of title has been anxiously
considered by the board, who are aware that a feeling
favourable to such a change is entertained by many
warm friends of the association; but having given the
matter their most careful attention, and having consulted
with the trustees, who evinced the kindest interest in the
subject, the board have come to the conclusion that they
do not consider it advisable to recommend the adoption of
any change to the members. At the same time they deem
it of importance to entirely disabuse the public mind
of an impression, conveyed by the present title, that the
Provident Clerks' Association is to be considered as *nein.
sively a `class office.' It is open to, and indeed includes,
among its members every class of society, while its steady
and progressive improvement, its wide-spread influence and
important position, and the prosperous result of its past
operations, justly entitle it to the confidence of the public
at large."
The balance•sheet, duly audited, was submitted to the
trustees at the meeting of the board on the 14th inst., and
those gentlemen expressed themselves much gratified with
the favourable progress of the association.
The following directors retire by rotation, but being
eligible offer themselves for re-election :—Mr. Richard
Henry Jones, Mr. William Jeremiah Jordan, Mr. Richard
Price, Mr. William Stanhope Sawtell.
The following gentlemen duly qualified have been pro-
posed, in accordance with Rule 14, as auditors for the en-
suing year :—Mr. Richard James Lloyd, Mr. Francis
Frederick Toole, Mr. Charles Woolley.

The CHAIRMAN said—Before putting the report for their

adoption perhaps they would allow him to make a few
obiervations pertinent to the question before the►a. They
must all agree that the report they had just heard was
very satisfactory when compared with former years.
(Hear, hear.) He was extremely glad and happy that
it was so, and judging from the opinion of others, as
well as his own experience, he considered the associa-
tion to be in a most progressive and satisfactory condi-
tion, (Cheers.) The main points to which he wished
to call their attention were these. The policies for 1855
were 424, for a sum in round numbers of 82,0001.,
while those for 1856 amounted to 730, for 106,2801.,

showing an increase of 306 in the number of policies,
and of 24,0001., in the amount insured. Again, the new
premiums in 1855 amounted to 2,1891., while in 1856
they were 3,2821., showing an increase here also of
1,0931., and while that increase shows the prosperity of
the association there was this further fact, that while
the claims upon them in 1855 were 10,6981., they only
amounted, in 1856, to 7,2501. He was not in error,
then, in saying that he had great cause to congratulate
them upon the result of their last year's business. As
to their investments, they had taken every advantage of
the rates of interest which could be procured, and was
happy to inform them that all their money was in a
satisfactory and safe position. (Hear.) With respect
to their expenditure, a small increase of 300/. had taken
place, with an increase of 3,0001. on their premium,' ;
but that expense principally arose from their unfortu-
nate house, 42, Moorgate-street, which had been tenant.
less during the past year, and fit which they must pay
rent for four years to come ; and also in a further ex-
penditure in the shape of medical fees, arisieg from the
increased number of the applications to insure. There
wag, for the same reason, an addition to their expenses in
stationery, and he had to inform them that the present
year included five quarters ; so that up to tio 31st Dec.
last, with the exception of an insignificant amoue;t, they
were perfectly free from all claims. (Hear.) He
also to inform them that they had let part of the house
No. 42. (Hear.) In addition, then, to their present
balance, they had paid from the commencement in
claims 48,2721., their policies amounted to 5,679,
covering assurances for 1,064,0951., of which there were
still in existence 4,375 policies for 809,0651. The result
of their operations for the past year had been to in-
crease their ba.ance by 12,8011. 14s. 5d., and after pro-
viding for everything to invest 82,9251. 34. id. With re-
spect to the business of the Government office alluded to
in the report he might mention that the office alluded to
was the Post-office. On a former occasion he told them that
a severe contest was going on amongst insurance offices to
procure the business of that and other offices. They
learned that theirs was excluded, but the board immedi
ately wrote to the authorities, the result of which was
that the question was thrown open, and ultimately they
succeeded in obtaining the entire business of the Post-
office, and got 250 persons to insure with them. (Cheers.)
They were compelled, no doubt, to take a certain num-
ber of pensioners at an additional rate ; but the whole
of the others were done at the ordinary rate of insurance.
Another office to the business of which they succeeded
was the Electric Telegraph Company, to the amount of
about 23,0001., of which only 5,0001. appeared in the
account of the present year. As soon as the board
heard of the intentions of that company immediate
steps were taken to secure their business, and he sin-
cerely believed the arrangetnents made would prove
eminently satisfactory. (Hear, hear.) In alluding to
these things, he thought it was only fair to do jus-
tice to their active and intelligent secretary, and the
gentlemen who discharged their duties with so much
zeal, and bore the labcurs imposed upon them with
so much cheerfulness and so much satisfaction to the
board of management. (Cheers.) One good, he was
sure, would arise from the example thus set by the
Telegraph Company and the Post-office ; that he hoped
others would follow their example, and offer themselves
to the association, and the members might depend
upon it that the board of management Wonid continue
their exertions to extend their business as they had
hitherto done. (Hear, hear.) A 8 to the rules of the
assooiation another opprtuuity would be affAded to
discuss them, and filth tespe,S,; to the title of the com-
pany, and the suggestions made on a former occasion to
alter it, he would only say that that question, having
been well disoassed and carefully considered, it was
deemed advisable to make no alteration whatever.
(Cheers.) With respect to another point referred to at
theit la4t meeting, namely, the propriety of holding
meetings at the Westaend of the town, they did not
think it advisable to hold them at a certain part ofl the
year, when the town was empty, but the board reedsobeen
to do co at a convenient opportunity. They)
which,
lately very busy, and had issued 10,000 circular.,
he hoped, would have the very best result.
hear.) They had also established an office atta(nHcheaers
ter, which, as they all knew, was a mos important
town ; in doing that they were promised every support;
but if it did not succeed for one year, they were at liberty
to discontinue it. (Hear,
hear.) lie was bound
to say that some of their agents in the country dur.