The Sun.
London, England, 1868-02-06 00:00:00

the Benevolent Fund is entitled on this occasion will be
ascertained when the,appropriation is carried out. The
amount which I recommend to be divided on the present
occasion is £50,436, which is equivalent to a reversionary
bonus of £101,953. If my recommendation be adopted
the necessary calculations will be made without loss of
time, and each member advised as soon as possible of the
exact amount of bonus to which his policy is entitled.
The funds of the association appear to have been very
judiciously invested, aod the rate of interest realised
forms an important element in the profit made during the
last five years. The time allowed since the closing
of the books cn the 31st December for ascertaining
the amount of divisible surplus is so limited, and the en-
gagements of the association are now so numerous, that it
would have been impoisible to present this report to you
thus early had it not been for the cordial assistance I have
received from Mr. Linford and Mr. Stubbs. I hope I may
be p.mnitted to express *my thanks to them for the able
manner iu which they have furnished me with ali neces-
sary details, and for the assistance which they and the
other gentlemen in the office have rendered to ins on all
occasions.—l have the honour to be gentlemen, your
most obedient servant,

(Siguod) ROBERT TucKEn, Actuary.
70, Lombard-street, 30th January, ISGS.

After that he hope.l they all felt comfortable and
satisfied at their position, especially as the bonus
Mr. Tucker had recommended the directors to pay
was the largest they had ever rec,!ivecl. (Rear, hear.)
Thanking them for the attention they had given
him, ho would conclude by stating he should have
great pleasure in hearing any gentleman if he had
anything to say ; if not, he would resume his seat
by formally moving the reception and adoption of
the report.

The motion, having been seconded, was carried
unanimously.

Mr. BACKLER said he had now a very pleasant
duty to perform, and that was to move a resolution
to the following effect, viz., " That the best thanks
of this meeting be given to the board of directors
for the manner in which they have conducted
the business during the past year." He hail not
been present at many of their meetings of
late years, because he had such perfect confidence
in the efficiency of the management, and that had
rendered it unnecessary for him to watch the affairs
so closely as he had in years gone by. Ten years
ago the division of profits was only 10s. per cent.,
whilst now it was to 113 at the rate of £1 2s. 6d.,
which was an increase at the rate of
about 125 per cent. (Hear, hear.) Mr. BAckler
then referrvd to some business transactions which
occurred between him and the directors in their
official capacity as connected with a kindred insti-
tution (the Provident Clerks' Guarantee), in which
he had been met in a manner so highly honourable to
them that he had felt he could not be in
better bands, and had at once added another
£l,OOO to his life assurance with the Pro-
vident Clerks'. (Hear, hear.) lie had thus in-
creased his interest in the institution, as he
thought it was the best investment he could make
of his savings, because he felt assured that every
liability of the association would be met with honour,
and without that quibbling which unfortunately was
to be met with in other societies. He did not move
the resolution as a vain form, but with the sincere
and honest conviction that those in whose favour
it was made had honestly deserved it. (Cheers.)
Mr. REYNOLDS seconded the vote of thanks,
stating that it had been well deserved and well
earned.

The resolution was carried unanimously.
The CHAIRMAN thanked them for. the kind com-
pliment that had-been paid the board, and he also
felt grateful to the meeting for the kind response
that had been made to the proposition. Their next
business was the re-election of directors, and as he
was one of those retiring he could not say more to
them at present.
Mr. PRICE said, associated as he had been with
Mr. Jones for so many years, he knew how much
he had done for the society. lie had secured their
confidence and esteem year by year, and he felt
that a great deal of their success was owing to his
personal exertion. He could have no hesi-
tation in moving his re-election, and he
felt that the meeting would have no hesitation
in agreeing to such a proposition. (Hear, hear.)
He (Mr. Jones) had worked with them for years,
and he knew that his (Mr. Jones's) heart was en-
tirely with the association. He had much pleasure
in formally moving the re-election of that gentle-
man. (Cheers.)
Mr. SAWTELL felt it a privilege to second the re-
election of Mr. Jones.

The resolution was enthusiastically carried.
Mr. JONES, in resuming the chair, said the transi-
tion from " out" to " in" had been very short.
(Laughter.) He thanked them very much for the
response they had made to his friend's eulogium.
Ile certainly did take a warm ,interest in
the affairs of the association, and he was
glad they knew it. His great desire was to see
that the Association go on and progress. (Hear,
hear.) It would not do to stand still ; those that
did so were left behind, and he could assure them
that nothing should be wanting on his part to
hasten the society on the road of success and pros-
perity. (Hear.) He would now put there-election
of Mr. J. W. Welch, one of the other retiring direc-
tors, to the meeting, at the same time expressing his
regret that he was unable through illness to be pre-
sent at their meeting.
The re-election of Mr. Welsh as a director was
carried unanimously.
The CHAIRMAN said the other retiring director
was Major Snell, and be had much pleasure in
putting his re-election to the meeting.
The motion was carried unanimously.
Major SNELL, in returning thanks for his re-
election, said he felt, did he remain silent, it might
be thought he was possessed of that bad be-
longing to an ungrateful heart ; but he assured
them such was not the case. He was not about to
trouble them with a set speech, they had none of
those sort of things at their Board meetings, and
he felt that his thanks would not be the less ac-
ceptable because they were conveyed in few and plain
terms, as would be best becoming a man of business.
He trusted, at the end of his next term of office,
they would think as favourably of him then as they
did at the present time. (Hear, hear.)

The CHAIRMAN then moved the re-election of the
retiring auditors, which, having been seconded, was
carried unanimously.
Mr. LLOYD thanked the meeting for his re-elec-
tion, and said he hoped as long as he had life
he should be permitted the pleasure of audit-
ing their balance-sheet. Their accounts were
so well and clearly kept that it was quite a
pleasure to go over them. In making the audit
he never came across anything that was suspi-
cious; everything was as fair and open as possible.
Having said so much he hoped the meeting would
permit him to say a word or two to those who
had young clerks under them. The most
beneficial service they (the elder ones) could
do then was to urge them to take the useful step of
insuring their lives. It might not be that they saw
the immediate necessity of doing so, but a time
would come when that act would be looked upon
as one of the most pleasant pieces of work they
had ever accomplished. lie had suddenly been
called upon to go a journey of some 20,000
miles, and he could assure them that he did not set
out on that long voyage the less happily by the
knowledge that his life was insured in an office
whole integrity and honour was unimpeachable.
Mr. TooLE having returned thanks for his re-
election,

The CHAIRMAN said he had now the extreme
pleasure of moving a vote of thanks to the secretary
and staff. They had, indeed, got a good secretary,
or they would not be able to show such good re-
3ults as they had done. He, it was satisfactory to
know, was aided by a painstaking and effective
body of gentlemen, and he had no doubt the meet-
ing would cordially agree to the resolution he had
the gratification of moving.
Mr. CHRISTIAN SAM it was all very well to give
a vote of thanks, but he hoped they would give
them something more substantial. They were about
to divide an enormous amount of money amongst
the members, and he did hope the board would
give the best consideration to the matter.
The CHAIRMAN replied that this matter would
not have been omitted by the Board even without
this reminder.

The resolution of the chairman was carried una-
nimously.