The Sun.
London, England, 1850-06-08 00:00:00

SATURDAY EVENING,

the expectation, that at! the next general meeting results
still more satisfactory will be exhibited, inasmuch as
the connexions, friends, supporters, agents and general
machinery of the company will, by that time, be materi-
ally increased and improved.
The directors feel that the attention of the share-
holders may possibly be drawn to the large amount of
annual income rejected, under the head of declined poli-
cies, they therefore beg to assure the meeting, that
although they have been careful not to refuse a case
which promised safety to the office, still, in the discharge
of their duty, and having regard to the losses sastained
by other companies, they have been obliged to reject a
great number of proposals; believing that, without the
most judicious selection in the first year of the company's
existence, premature losses might arise which would not
only cripple the resources of the company, and press
with severity on the shareholders, but materially en-
danger the very existence of the institution—and whilst
adverting to this point, the shareholders are congratu-
lated that not a single loss has been sustained by the
company.
The directors have much pleasure in remarking that
the average amount of each policy does Rot exceed 3501.;
and the directors feel that it would be needless to point
out to the shareholders the various advantages arising
from this class of assurance, and from spreading the po-
licy liabilities of the company over so large a surface.
The directors have also much satisfaction in
drawing the attention of the meeting to the success
which brie attended the guarantee branch of the com-
pany's business—a great many institutions having
accepted the guarantee of the company; indeed,
the confidence felt by the commercial world in the
guarantee policies of this company is certainly exhibited
by the circumstance, that although the company has
been so recently instituted, still this department has al-
ready been supported by several of the leading railways,
bankers, charitable institutions, and other corporate
bodies, in addition to private mercantile establishments.
The system of applying
mutuality to guarantee, first
introduced to the public by this company, is also meet-
ing with the most marked success, and is now under the
consideration of some of the largest corporations of the
day, with a view to its adoption, it being generally felt
as a truth that by making the guarantee premiums an
investment instead of a tax upon the labour and honesty
of individuals, the only objection that has been made to
public guarantee is at once removed, and the chances of
dishonesty materially lessened.
The directors continue to dispose of the shares of the
company—and invite the shareholders and their other
friends to co-operate with them in making every exer-
tion to obtain good and responsible persons to subscribe
for the remaining capital ; in every case up to the pre-
sent time care has been taken, and the directors feel
gratified in stating that the shareholders are men of
known capital, standing, and respectability, fully calcu-
lated to give strength and support to an institution of
this character.

The directors also wish to urge upon the shareholders
the importance of their individually exerting themselves
in every possible way to promote the prosperity of the
institution which affords so many advantages to the
assuring public, and which, regarding the guarantee, is
fraught with such sterling benefit to the mercantile
world.

It is proposed that interest at the rate of 41. per cent.
per annum should be paid upon the subscribed capital.
The directors beg to lay before the meeting the regis-
ter of directors' attendances, by which it will be seen
that they have, by their individual attendances, spared
no exertion to promote the prosperity and success of
this company, knowing that such success must mainly
depend upon the amount of zeal, care, and attention be-
stowed upon it by all those persons who are interested in
the result.
The CHAIRMAN begged leave to move the adoption
of the report, and he should be happy to hear any
gentleman who wished to address the meeting.
Mr. THOMAS WINSWORTH, in seconding the adop-
tion of the report, said, although he was connected
with another kindred institution, his appearance at
this meeting was an adequate proof of the interest he
took in this company. Although there was an old
saying that two of a trade could never agree—(A
laugh)—he did not think he formed an exception to
that rule. In point of fact, he was not exactly in the
same trade with this institution. He was a part-
ner in it, and he was also a partner
in another society which was not exactly idea_
tical with this ; and if it were otherwise, still
he felt assured the field was sufficiently large for all
of them to succeed.--(Hear, hear.) He thought it
was a rule in political economy that no company,
could prosper on the downfall of another, for when-
ever they disturbed the confidence which the public
had in joint-stock companies they did a mischief to
all who were engaged in them.—(Hear, hear.) He
must say the report which had been read was very
satisfatory ; and he hoped that the business, carried on
up to the present time in a manner which was
so satisfactory to themselves, would be more than
satisfactory at their next anniversary. The field
was exceedingly large in which companies like
this might operate • and if they looked around
throughout the United Kingdom, and also abroad—
for there was yet much to be done abroad in the
way of life assurance—they would find how small a
portion of that field was yet occupied ; and therefore
the greater the activity pisplayed by this and
similar companies in a greater degree would
the public avail themselves of the objects
and benefits of those institutions. Having been
connected with this company from its first inception
he might be allowed to say he felt a great degree of
interest in its welfare, and he was convinced that it
would go on and prosper. To the directors he
begged to tender his thanks for the manner in which
they had conducted its affairs, and be had great
pleasure in seconding the resolution.— (Applause.)
The resolution was then put and carried unani-
mously.
The CHAIRMAN then said the next business they
had to consider was the re—election of the retiring
directors and auditors, who were eligible, and pre-
sented themselves as candidates for re-election. The
retiring directors were Mr. T. N. Baker, Mr. Louis
de Massiac, Mr. Charles Latham, Mr. John Lil-
-1 wall, and Mr. A. F. Paul.

The Rev. JONATHAN GEORGE begged to move the
re-election of Messrs. Baker, De Massiac, Latham, Lil-
wall, and Paul as directors. He should be excused
from making any lengthened remarks; but he might
say he thought the two grounds on which a motion of
this kind should rest were, first, the thorough ap-
probation and satisfaction of the shareholders
of the way in which the business of the
company bad been conducted by the directors, and
secondly, his own close and intimate knowledge
of the character and conduct of some at least, if not
the whole, of the retiring directors, as men of pro-
bity, character, business, and high respectability; and
he therefore most cordially moved the re-election of
them.
Mr. RICKERBY seconded the resolution, which was
carried unanimously.
The CHAIRMAN said the following gentlemen re-
ired as auditors, but were also eligible for re-elec-
ion--Mr. William A. Kent and Mr. Daniel Pratt.

➢lr. JOHN LILWALL said he had great pleasure in
moving the re-election of those gentlemen as auditors.
They had already very satisfactorily filled the office
of auditors, and that was the best guarantee the
shareholders had of their fitness for the post.
Mr. CHARLES LATHAM, in seconding the resolu-
- - - - -

•
tion, said he might be allowed, he trusted, to adver
to the general advantages of life assurance and the
guarantee business. He was thinking of the different
tastes of individuals which divided . them into
particular groups. There were some gentle-
men present, he knew, of a botanical taste, who
were very much disposed to look with peculiar in-
terest on the study of flowers, for instance ; but he
thought, with all their beauty, variety of colour, and
tint, and shape, and scent, there were groups of still
greater interest than groups of flowers. He thought
of
human beings—(Hear, hear)—
a a higher order of importance—
a
great admirer of a group of
that e
kind,
such a one as we found in
our domestic establishments. We looked on that
sa;:grs a
of
tht hneerdm ee
tfr
oe on
ando groups
uep,especiallyws
group with peculiar interest, because it had attractions
which the vegetable kingdom did not possess. It
sometimes happened with that little group, which they
might take as a kind of miniature representation of
the entire world, that its liveliness WAS interrupted,
or rather the beauty and harmony of it, by the loss
of one of its members. But it sometimes occurred
that a greater loss than that was sustained, 'deplora-
ble though that might be.; occasionally the maternal
head of that family was snatched away, and the ten-
derness and happiness which she had diffused over
that little group was for ever withdrawn, and only faintly
compensated by the care and attention of another.
But still there had been left the more important head,
in many respects..—he meant the father. It now and
then, however, also happened that that more import-
ant head, engaged as he was in commercial or pro-
fessional pursuits, was snatched away with equal
suddenness. The very anxiety, indeed, which be felt
for those dependent upon him might cause such in-
jury to his health as to bring him prematurely to his
end. He had a case before him, in which a man in
the receipt of a good income, had been suddenly re-
moved by death, but who had not left anything ,like
a competency to those who survived him ; and he
(Mr. Latham) feared he had not availed himself of
the benefits which institutions like this offered to
every provident man.—(Hear, hear.) It was in con-
sideration of the uncertainty of life that societies of
this kind bad their origin, and they only demanded
from an individual a sum which he, from his own
choice, thought proper to pay; and though his
death should occur the day after a policy
was executed and effected, the sum insured
was immediately available to his surviving relatives.
That showed the great importance of institutions of
this kind. He might just advert to one more case,
and that was of an individual of that isolated charac-
ter, who stood in the position of something like a
little island in the vast Pacific oceanha meant, of
course, an unmarried man.—(Laughter.) Such an
individual might say he was quite apart from the
world, that he had no partner and no descendants ;
'but Still that individual could not gay -those societies
had nothing to do with him, for it might so happen

that by the loss of skill or energy he might be called
on to relinquish the situation which he may have
filled with credit • that he might resign or might
have a gentle hint that he had better retire.
Now in cases of that kind this society provided an
annual sum to any person according to the age at
which he thought propoer to join it. He thought that
this society commended itself to the family men, to
whom he had the honour to belong, and also to those
who were unmarried.—(Hear, hear.) With respect
to the guarantee department, there were many persons
of great talent and respectability who, having the
offer of lucrative employment, were unable to avail
themselves of it from their inability to give the re-
quired security. Persons were often placed in posi-
tions of the greatest delicacy in being called upon to
give that security by young men who bad a claim
upon their kind offices, and who, in default of that
friendly turn being extended to them, would have to
give up opportunities and chances of well-doing in the
world which might never return.—(Hear, bear.)
That was, a strong argument in favour of guarantees
being provided by public companies, and such
guarantees it was one of the objects of this institu-
tion' to furnish.—(Cheers.) Mr. Latham concluded
by bearing his testimony to the indefatigable assiduity
which the directors had evinced in conducting the
affairs of the company.
The resolution was carried without a dissentient.
Mr. D. PRATT then moved a resolution to the effect
that interest at the rate of 41. per cent. should be paid
upon the subscribed capital.
Mr. MALeozig, in seconding the motion, felt assured
the directors would not have made that proposal un-
less they were perfectly satisfied they could do it
safely.
This resolution was also agreed to.
Mr. W. A. KENT had great pleasure in moving
that a trifling sum be awarded to cover the necessary
expenses of the directors during the past year. The
time, labour, and responsibility which were entailed
upon gentlemen who sought to establish aninstitution
of this kind could only be estimated by those who like
himself had witnessed it. There were plenty of per-
sons ready to join such a society when it , was esta-
blished, and " to take their fill ;" but not so many to
lend their assistance to its formation. He begged,
therefore, to propose that 701. be allowed for the ex•
penses of the directors during the past year.
Mr. D. PRATT seconded the resolution, which was
carried unanimously.
Mr. MALCOLM proposed a vote of thanks to the
directors for their services.
Mr. EDWARDS seconded the resolution. He thought
the directors were entitled to the respect and confi-
dence of the meeting for the way in which they had
conducted the affairs of the company, and coupled
with the consideration that they had given their ser-
vices gratuitously, he thought the thanks of the
meeting were peculiarly due to them. Mr. Edwards
then took occasion to throw out a suggestion to the
meeting to the effect: that the principle of assurance
might be made available to the numerous class of
persons who held leases of property for terms of years,
by the application of which those leaseholds.might be
rendered equivalent to a freehold interest.
The resolution was put and carried by acclamation.
Mr. Linween moved a vote of thanks to the ma-
nager and other officers of the company. To their
medical officers, their actuary, their standing counsel,
and the officers generally, the obligations of the share-
holders were severally due. With regard to their
friend Mr. Sheridan, the manager, every one of them
must have noticed the great zeal and activity he bud
displayed in promoting the interest of the company.
—(Hear, hear.) The balance-sheet proved that
he had conducted the business of the com-
pany with very great success. Mr. Sheri-
dan was, therefore, entitled to the thanks
of the meeting, and he (Ilr. Lilwall) moved those
thanks accordingly. He bad also great pleasure in
bearing his testimony to the singular care which the
medical officers had shown to protect the interests of
the company. Mr. Farnell, the consulting actuary,
had also paid great attention to its business. Their
solicitors, one of whom, Mr. Edwards, was present,
were also entitled to the best thanks of the meeting.
He would just for a moment refer to the guarantee
department of the company. He thought that branch
of their business was not only calculated to prove re-
munerative and satisfactory to the general body of
the shareholders of the company, but was also likely
to be productive of great public benefit.—(Hear,
hear.) Every person, instead of applying to a friend
for security, and so placing his friend in a most de-
licate position, could now come to the public gua-
rantee department of this society, and make a pro-
posal which would be at once accepted. He had
great pleasure in moving the thanks of the meeting to
the officers of the company generally.
Mr. W. A. KENT seconded the resolution, which
was carried without a dissentient.

Mr. H. B. SHERIDAN, the manager, said it was cus-
tomary for persons like himself, standing in the rela-
tion of officers of a public institution such as this, to
acknowledge the sense they entertained of compli-
ments paid to them by the body of their proprietors.
On the part of himself and the other officers he had to
express his lively sense of the acknowledgments of
the meeting of the manner in which his brother offi-
cers and himself had discharged the duties that bad
devolved upon them. He could only say for them
and himself, that they would continue to strive with
the same amount of energy to promote in every way
the success and welfare of this institution.
Mr. BAKER, in moving a vote of thank to the au-
ditors, briefly bore testimony to the assiduity which
they had evinced in discharging the duties entrusted
to them.
Mr. WAGSTAFFE had much pleasure in seconding
the resolution, which was carried unanimously.
Mr. J. BROWN, in moving a vote of thanks to the
Chairman, took occasion to lament the apathy which
existed in the public mind with respect to life assu-
rance. The people, he said, would not "go wash in
the pool of Siloam." As respected their relation to
this company, he thought the shareholders and di-
rectors were like ants or bees—they were all bringing
honey to the hive. They should do their utmost to
disseminate a knowledge of its advantages among
their friends and connexions, beginning with their
domestic servants, going through their more intimate
relations, their trading friends, and every class of in-
surers within their influence.
The CHAIRMAN briefly acknowledged the compli-
ment. He regretted that his Parliamentary duties
had left him so little time to assist in carrying out the
objects of this institution, in whose welfare he took a
deep interest. Life and fire assurance was a thing
almost exclusively confined to England; and he
thought a great deal might be done by awakening
public attention to its benefits on the continent gene-
rally. The directors of this institution, through the
instrumentality of their friend, M. Louis de Massiac,
were now endeavouring to bring its merits into notice
in Hamburgh and Stettin. By means of institutions
of this kind men were urged to have regard to their
temporal existence, just as Christianity taught them
to look fbrward to their future life. The principle of
life insurance, he believed, was first developed in the
seventeenth century, when it had long to combat with
the prejudices of the people, for at that time there was
as great a reluctance felt to effect a life assurance as
to make a will, because in insuring their lives they
almost thought they were insuring their deaths.—(A
laugh.) The tables of this institution were so econo-
mically constructed as to fall within the means of the
whole middle class of this kingdom, and it had pecu-
liar claims on their attention and support— (Applause.)
The meeting, which was of the most satisfactory
kind throughout, then separated.

BURFORD'S PANORADIA ROYAL, LEICESTER
SQUARE.—The following distinguished visitors have recently
honoured Mr. Burford's Panorama with their presence :
His Royal. Highness the Duke of Cambridge, Field. Marshal
the Duke of Wellington, Bishops of Rochester, Chester,
Bath and Wells, Litchfield, Chichester, Manchester, Marquis
and Marchioness of Chandos, Lord and Lady Charlemont,
Lady W. Horton Earl and Countess of Ilarewood, Earl
Lestowell, Earl and Countess Grey, Earl of Besborough, the
Persian Minister and suite, Lady Touro, Sir W. and Lady
Gordon, Sir J. Duke, Bart., Lord and Lady Portman, Vis-
count Cantelupe, Lady Darnley, the Ladyplayoress and the
Misses Farncombe, Sir P. and Lady Egerton, Earl and
Countess of Stamford, Lady Yard Buller Lady Colburn,
Lady Arthur, T. 11. Btampston, Esq., Joseph Hoare,
Esq., Mr. Sergeant Thompson, Lady Ashburnham and the
Hon. Misses Ashburnham, R. Travers, Esq., M.P., Mrs.
Col. Wharcup, Col. and Mrs. Rouse, Hon. Mr. Bosanquet,
Lady S. Lindsay, Hon. Miss Elliott, Sir T. and Lady Duck,
S. Becks, Esq., M.P. Marquis of Salisbury, Countess of
Harrington, Lady Pollock, Countess Poulett, Col. and Mrs.
C. Thompson, Sir 11. and Lady Paton, Lord Adolphas
Fitzclarence, Countess of Mansfield, Sir G. and Lady Bur-
ton, Countess of Rowden, the Turkish Ambassado Br, Lord
Howe, Lady Hamilton, Lady Packington,
mour, Lady uckl
Lord and
,
Lady Mackenzie, Lady Staunton, Lady S, Lour
Lady St. Germans, Lady Coster, Lord and Lad y Eend infielsh,
d,
Hon. Mrs. W. Stratford, Lady T. Hope, Lady L. a'v
Hon. Misses and Masters Cavendish, Lord Londes, Sir J. C.
Ross, Dowager Lady Abinger, Sir I'. Fellows, Sir. J. Armi-
tage, Marchioness of Aylesbuq, Marchioness, of Huntley,
Marchioness of Worcester, Sir J. and Lady I ym, Mr. Jus-
tice Flood. Hon. A. Keppel P.
, Lady Leith, Sir J. and Lady
Johnson, R. Ricardo, Esq., M., Baron de Cetter, Doctors
Barford, Vivian, and Kynaston, Hon. 11. Golbourn, M.P., Dr.
J. Coster, Etq MP. Lady Tyrconnell, Hon. Mrs.
Spry, Ea q., •
Askew, Lady Newburgh, Gen. Ashmuty, Gen. \Vemys,
Admiral Sir T. Cochrane, Sir G. Arthur, Earl of Harrington,
Earl and Countess Fitzwilliam, Earl and Countess Limerick,
Lord and Lady 'Villiers, Lady Buntingfield, Duke and
Duchess of Beaufort, Lady Overstone, Sir J. and Lady
Lushington, Sir F. Roe, Sir C. and Lady Wake and the
Misses Wake, Capt. Howard, Earl of Jersey, Mr. Justice
Fielding, Hon. C. Hardinge, Lord and Lady Roden, Lady
Cowley, Capt. Sir E. and Lady Sawin, Miss Burdett Coutts,
Capt. Austin, R.N., Capt. Knowles, R.N., Lady Levingetone,
Lady Farrar, Lady Goving, Lady H. Moyston, Lady C.
Sterling, Lord Donoven, Sir M. A. Herbert, M.P., Viscount
Mandeville, Viscount Barrington, Duchess of Bedford, Duke
and Duchess of Leinster, Lord and Lady Morley, &c., kc. &c.
RECOVER-SQUARE Rooms.—Mr. and Mrs. H. W.
Seguin gave their grand annual concert at these rooms yes'.
terday morning. A host of talent, including Mr. Sim§
Reeves, M. Benedict, Miss Lucombe, Miss 'Williams, Ma-
dame Lablache, and M. Thalberg, appeared on the occasion,
and their performances were loudly applauded by a full and
fashionable audience. The beneficiaires were very flatter-
ingly received, and their vocal efforts were throughout of a
nature eminently calculated to sustain the excellent reputa•
'094 they gape IcP clopid ao cOnc+nt pingem.