The Sun.
London, England, 1868-07-23 00:00:00

NORWICH UNION LIFE OFFICE.

At the annual general meeting of this important
institution, the President (Thomas Beevor, Esq.) in

_
the chair,
The SECRETARY (Sir Samuel Bignold) presented
the following report :
"In making the annual report required by the
bye-laws of the society, the directors have with
pleasure to announce that in all the principal points
upon which the prosperity of a life office depends
satisfactory progress has been made during the past
year.

" The salutary policy pursued at the close of the
last quinquennium has not tended to diminish the
confidence felt by the connections of the society in
its stability. Of this the best proof will be found
in the amount of the new business which has been
transacted, which (considerably in excess of that of
the preceding year) has amounted to £305,461 lls.
6d., at an annual premium of £11,860 Bs. Bd.
" Of this sum £2,650 only has been re-assured,
and no policy has been issued for more than £5,000
upon a single life. In comparing the new business
with that of other companies, this is important to
observe—as the practice has become very usual
among Insurance Offices, making loans upon life
interests i❑ real estates and other property, to issue
policies for the full sums required to be secured, re-
assuring the excess above £5,000 or £lO,OOO with
other companies.
" But while the addition of a few thousand
pounds, more or less, to the aggregate insurances of
an office whose business exceeds six millions, can
have little immediate effect upon its finances, it is
more important to observe that a marked reduction
has taken place in the heavy mortality which oc-
curred between the years 1861 and 1866. In those
years the average amount of claims paid was no
less than £235,505 yearly ; but in the year ending
Christmas, 1866, the year's mortality fell in such a
manner as to reduce the claims to £201,300, and iu the
year ending Christmas, 1867, still further to
£169,958. It is remarkable that the same light
mortality has also prevailed among the Amicable
insurers. In that society it was the custom to make

Lp the annual accounts to the 4th of April iu every

year; and while the average annual amount of
claims, exclusive of bonuses, was fur the preceding
seven years not less thau £BO,OOO, in the year end-
ing the sth of April last it fell to £37,400.
In reviewing the assets of the otlice, it is grati-
fying to find that not only has a material advance
caken place in the value of stocks and funded secu-
rities, but that an improvement has been obtained
in the income derived from investments, so that
during the last year, on the entire capital, which,
including the Amicable funds, amounts to nearly
£2,400,000, the rates of interest have risen to £4
7s. Bd. per cent. on the Amicable, and £4 9s. 6d. on
the Norwich Union Securities.

" During the past year the Committee have,
_in
accordance with the express desire of the general
meeting, introduced a Bill into Parliament with
.he view of amending the constitution of theExecu-
. _ :

'.ive of the Society, and obtaining some enabling
puwers for the extension of the business. This Bill
having passed through the House of Lords, is still
under consideration iu the House of Commons.
" The Committee have also for the first time
introduced a new system of assurances, under the
name of Stttleineut Policies.' By these instru-
ments marriage and other settlements are effected,
without the necessity of soliciting friends to act as
trustees, without legal expenses, and, in fact, at the
cost only of the ordinary life assurance premiums.
The first and great object of life assurance is to
make a provision for a family, but to make that
provision secure and inalienable from its
übjects, notwithstanding any misfortune which
way befall the assured, it has hitherto
been necessary to call in the assistance of the
lawyer. By the system of the Norwich Union both
objects are attained, and as without the goodwill of
the great legal profession it would be hopeless to
endeavour to introduce a novelty of this nature, it
is satisfactory to be able to add, that not only has

the system received the warm approval of the lead-
ing representatives of the legal press, but members
of the legal profession have been the first to avail
themselves of its use. The great interest expressed,
both in Parliament and elsewhere, upon the ques-

tion of settlements and the rights of married Wo.
men, is, the directors consider, likely to turn in

creased attention to this subject.
" THOMAS BEEVOR, President."
The CHAIRMAN moved, " That the accounts and
the report which have been read be received," stat-

,ng that this report was certainly the most satisfac.
:ory one the directors had had the pleasure to pre

sent since he had been connected with the Society.
(Hear, hear.)

The Hon. F. WALPOLE bad great pleasure in
seconding the resolution, because, on the one band,
the report was congratulatory to the whole body of

insurers; and, on the other, because be believed it
to be, speaking from a considerable acquaintance
with that office and its work, perfectly honest and
true. (Applause.)
The SECRETARY replied that this office, which
commenced its career in 1898, had realised the
fruits put before them in the report to-day, and had
actually distributed to policy-holders the sum of
£1,622,616, all clear profit. In addition to that the

principle upon whicli the office commenced was

equivalent to an annual bonus—a reduction upon
the established rates of other offices.

The report was then received, and the proceed.
.ngs terminated with a vote of thanks to the chair.

man.

- -
SHIPPING INTELLIGENCE—This Day

GRAVESEND, Thursday Morning.
Arrived—Rite, from Jamaica; Martha, from Licata;
Frederick Wiliam, from Guernsey ; Canaan, from Sydney ;
Johu Bank, from New York; Esther, steamer, from Paris
Baron Osy, steamer, from Antwerp; Ranger, steamer,
from Rotterdam ; Panther, steamer, from Boulogne;
Velocity, steamer, from Calais.
Sailed—Cologne, steamer, for Boulogne ; Flecha,
steamer, for Ghent, Staperadier, steamer, for Uuernsey.

DEAL, Thursday Morning.
Passed, July 22 Monkchester, ship, from Macao, for
London (in tow); Citizen, screw steamer, from London,
for Bordeaux ; Havre, from London, for Quebec ; Van-
guard, of Sunderland, from the North, for the West.

A. white robin, a rare bird, was shot on Wed-
nesday, in the garden of John Fisher, Esq., Eldon Villa
Purtishead, by his under•gardener, Johu Collins.—Bristol
Mirror.

An example of illiterateness is published
.in the
Times. An overseer wrote to an hospital board thus:—
"Dear Sir—We have A girl Wich have been In your
hirspittle Wich She has put her harm Wrong a Gain 1
hope you Will be so kind hest To Writte (put to rights)
kit a Gain Iff you plese. I Remain your Humble servent,
Over Sear Off the Poor—."

Probably few of our readers are aware that if a
baker sells bread made wholly or partially of beans, peas,
or potatoes, or of any sort of grain or corn other tha❑
wheat, and does not cause all such bread to be marksd with
a largo Roman M, he is liable, by the 6 and 7 William IV.,
c. 37, on conviction, to forfeit and pay for every pound
weight of such broad, and so in proportion in any such
quantity which shall be so made for sale, or sold, or ex-
posed for sale, any sum not exceeding 10s. A baker of
llorsforth was convicted at Leeds Police-court of this
offence, and fined 2s. 6d., with the option of three days'
imprisonment, although the bread in question was avowedly
made of rye, and its composition perfectly apparent to the
purchaser.