The Sun.
London, England, 1850-01-22 00:00:00

undoubted security, for commercial or other purposes.
Though I should be wanting in respect to the society
if I did not say, in making this suggestion, that the
loans of which I speak have been found most advan-
tageous by many, coming as they do at a time of
difficulty, and perhaps of danger, and relieving much
pain and touch anxiety. My suggestion is, that whilst
you should pursue the benevolent work of lending
small sums, at moderate interest, to members who are
in difficulty, you should, at the same time, lend
large sums, upon good security; fur commercial
and other purposes.—(Hear, hear.) From the
disposition which the board of directors have
ever shown to meet the suggestions that
are offered by the members, I feel confident that it
on consideration they find the suggestions I have
made to be practical and beneficial, they will not
hesitate to adopt them. Of this, however, lam sure,
that by doing so they will materially augment the
business of the society.—(Cheers.)
The CHAIRMAN replied that the association could
not, under the Friendly Societies Act, lend
money upon policies, and could only do so upon
mortgages of freehold property. As regarded the
capital stock invested in the funds, the trustees
ccnsiderd it advisable to go on till they had accumu-
lated 20,0001., and that had been accomplished, and,l
he was happy to say, that since the 31st of Decem-
ber 1,5001. more had been invested.—(Cheers.) The
directors were quite alive to the advantage of lending
money, on the plan suggested by Mr. Scott, and the
subject had not escaped their attention.—(Hear.)
Mr. WELCH proposed—
" That the thanks of this meeting be presented to the
medic al officers, Dr. Jones, J. Gay, Esq., F.R.C.S., and
A. &nee, Esq.F.R.S., W. Ratray, Esq., consulting ac-
tuary; Messrs. Lawfordr, the honorary solicitors, the
provincial medical referees, agents, and local committees,
for their valuable services during the past year."
In allusion to the success which had attended their
efforts in the provinces, he said that at Manchester
they had obtained the patronage of some of the
leading firms, and since they had held a meeting
there they had an addition of several
members. The importance of obtaining a foot-
ing in Manchester was apparent ; many of the
commercial houses there employed no less than 100
clerks, and he was happy to say that many of the
leading inhabitants of the town had taken a great
interest in the association, and he could not avoid
alluding specially to the assistance they had received
from their agent, Mr. Langston, and from Mr.
Yates, a warm friend of the association.
Although the expenses for extending the busi-
ness in the provinces might be considered
large, their missions had been productive of much
good. They had received already, in consequence of
them, 49 proposals, amounting to 14,0001., and the
benevolent department had received donations
amounting to 901.—(Hear, hear, and cheers.)
In many towns they went into they found the Pro-
vident Clerks' Association hardly known; therefore
great exertions to extend the business in the pro-
vinces should be continued, and if a constant system
of visiting a'l the mercantile towns in the kingdom
could be kept up, he anticipated that much good
would be done, provided the time could be spared,
for they must be aware that such visits occupied a
good deal of time and caused much anxiety ;
but, so long as such a course of proceedings
was successful, so long should they continue to labour,
and the utmost gratification they cou'd experience
would be the knowledge of the fact,. that they had
contributed to the prosperity of the association.
Mr. JORDAN had much pleasure in seconding the
motion. Having been the companion of his friend in
their late visits, and been with him in constant com-
munication with their agents and medical referees,
he agreed with all he had said.
The motion was carried unanimously.
Mr. SMEE returned thanks on behalf of himself
and the other medical officers. The office of medical
referee was a very subordinate one in a life assurance
society, because, if the directors had not by their
exertions procured business, they would, as a matter
of course, have no lives to examine. Moreover, it
would be very little use examining lives, if the ac-
tuary hid not developed the laws of mor-
tality yet, nevertheless, the duties of a me-
dical referee were in some respects important,
inasmuch as each specific case came under his parti-
cular superintendence, and they were able to bring
the facts and statistics which they gathered in the
course of their medical education to bear upon the
task they were called upon to discharge. And in a
mutual office, like that, the experience which they
obtained of the value of human life was great on
account of the variety of persons they had to examine.
They would remember that about that time last year
he called attention to the fact that an awful epidemic•
was impending over this country. That the epidemic
was about to visit this country, was to those of his
er of
Bydo
fact
doing
ms tracingo
they
knewits it progresswou would
certainly arrive here, and he asked them all to get
their friends to come and assure their lives before it
iu professionother
countries. a
m att
should visit this country.—(bear, hear.) He had
entered into an examination of the effect which the
epidemic had had upon this association, and he was
prepared to state that the mortality among
the members had not been one-half, in-
deed not near one half, of the mortality
that had taken place among the best selected lives of
all other classes of the community.—(Hear.) This
important fact he could not pass over on the pre-
sent occarion, because he considered it an extremely
remarkable and important one.—(Hear.) They
knew that the epidemic proved fatal to those of weak
and debilitated constitutions, or which, in medical
phraseology, might be termed `.lives below
the average." From there being so small
an amount of mortality in the society, he
thought that they might fairly say that the
whole of the lives were in all respects better than
they had anticipated.—(Hear.) Before he sat down
he wished to urge upon the members not only to
induce other clerks to follow their example, and be •
COIFS members of the association, but to induce their
employers also to do so.—(Hear, hear.) There was
nothing like the security and advantage of an
assurance office that embraced all classes of the
community, and looking at the amount of
their invested capital, and to the excellence of the
management pursued by the board of directors,
he knew of no institution that offered.greater ad-
vantage, or which more deserved the liberal support
of all classes of the community.—(llcar, hear.)

Mr. WELCII had omitted to state an interest-
ing fact, that a friend of his, the chit f partner in
a mercantile house in Liverpool, had informed
him that, having examined their prospectuses and read
their reports, he waslso satisfiEd that the society was
firmly and securely established that he would assure
his life for 2,oool.—(Hear, hear.) At that time they
could not take so large a policy, but he assured
his life for 1,0001., and he would increase it to
2,0001. This was an interesting Pict, inasmuch as
if they could get principals to do likewise, and to take
an interest in the association—and they could
assure their lives with as much benefit and
security in it as in any other offiee—
their businoss would be materially augmented. Thus
they would not only benefit themselves, bat induce
those in their employ to follow their example. They
could invite with great confidence principals as well
as clerks to become members.—(Cheers.)
Mr. RATRAY (the actuary) returned thanks.
He wished to take that opportunity of calling atten
tion to the extremely encouraging balance-sheet
they had bad presented to them.—(Hear, hear.)
When it was borne in mind that during
the past year they had increased their income
by 3,500/. from new business, he assured them, after
a careful examination of the balance-sheets of numbers
of offices in his professional capacity, that it would
bear comparison—favourable comparison—with those
of many other offices of greater standing. Few,
indeed, of them could show the same amount of
business—many offices of equal standing cannot do
so ; and when, on the other side, they found that the
expenditure bad been small, he did say that the whole
aspect of the association was most encouraging.
Tne utmost labour was devoted by the
managers to the promotion of the success
of the society.—(Hear, hear.) He could corroborate
the testimony given by Mr. &nee that the board of
directors were most indefatigable so also were
those employed in the office.—(Hear, hear.) The
alteration of the rule empowering the .directors to
issue policies to the amount of 2,000!. was a step in
the right direction, and when it was borne in mind
that they possessed the important privilege not pos-
sessed by the majority of assurance offices—namely,
the privilege of nominating others to receive
the amount of their policies without legacy or pro-
bate duty, he did think that that society deserved the
most extended support. If gentlemen would bestir
themselves they could produce an amount of business
of which hitherto they had no idea.—(llear, hear.)
He thought they might by exertion obtain much
support from the higher classes. The business was
so encouraging, and the expenses so small, that the
society could not fail to progress.—(Hear, hear.) The
rules were so liberal, and the care, attention, and
consideration of the directors so great, that the society
mutt continue to recommend itself to the public.
Mr. Bell, Mr. Hooper, and Mr. Coleman were then

elected as the auditors for the ensuing year.
Mr. Hoorn returned thanks for the honour con-
ferred upon them. No one, he felt bound to say, had
devoted more care and attention'to the business of the

institution than the Chairman—(liar)—and the im-
partial manner in which he had conducted the past
and present meeting fully entitled him to the cordial
thanks of the members.—(Hear.)
Mr. LLOYD seconded the motion, and said it be-
hoved him to state that he had had an opportunity of
SE eing the way in which the business was transacted.
He found the directors, during . the hot
month?, during that dangerous season of the year,
when a fearful epidemic was devastating the popula-
tion, the board frequently sat till ten .o olock at night
inTeetigsting.th• iffars.of the eociety.—(Hear, hear.)