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

PROVIDENT CLERKS' MUTUAL

LIFE ASSURANCE

Yesterday evening the ninth annual general
meeting of the members of the Mutual Benefit Depart-
ment of this laudable and excellent association was
held at the London Tavern, 13ishopsgatc-street.
Mr. R. It Jones, tha chairman of the board of
management, occupied the chair, and was supported,
right and left, by a large body of the managers,
among whom we noticed Mr. J. W. Welch, Mr. J.
Garke, Mr. A. Dawson, Mr. James Lintott, Mr.
Ratray (actuary), Mr. Smee, Mr. Maitland, and
several others. There was also a large number of
members present.
The CUAIUMAN called upon Mr. P. 11. Byrne, the
secretary, to read the repart, which he did as
follows :

" The board of management, in presenting to the
members the ninth animal report of the affairs of this
association, have much pleasure in communicating to
them that a considerable increase has taken place during
the past year, both in the number of policies taken out
and in the amount of assurances effected.
"In the last year 568 polici:s have been issued for
115,8651., the annual premiums upon which are 3,2421.;
57 proposals for assurance have been declined, and 62
proposals aro deferred, withdrawn, or waiting for further
information.

" The• business for 1849 has consequently greitly ex-
ceeded that cf any year since the formation of the wise-
elation, and is an increase of 134 policies fJr 30,7551. uver
the prosperous year of 1848.
" The annual premiums payable in resrect of the
policies in existence, together with the dividends on in-
vested capital, now amounts to 11.6251.
" It is satisfactory to the board to be able to announce
that, during the year 1849, they purchased 5,000/. stock,
and that the total amount in the names of the trustees,
on the 31st December last, was 20,000/. Three-and-a-
Quarter per Conts.
" The total amount of claims arising front 20 deaths
during the past year was 3,8501. The severe visitation
of the cholera and diarrhoea, by which this country was
affected, augmented the mortality amongst the assurers
by four deaths, amounting to 1,3001, but it is satisfac-
tory to know that in proportion to the number of mem
bers the above claims are less than could have been an-
ticipated.
" In the course of the past year deputations from the
board of management have visited Birmingham, Man-
chester, Liverpool, and Edinburgh, on the subject (.f
agencies and the general affairs of the association. The
deputations were most cordially received by the princi-
pals f many of the leading mercantile and banking firms,
and the business has since been consider ably increased.
" The board are happy in having had the opportunity
of making known through such means the peculiar ad-
vantages of this association in these important places.
" In accordance with the rules, the undermentioned
gentlemen go out of office by rotatior, and, being- duly
qualified, offer themselves for re-election : Messrs.
John Clarke, Alexander Dawson, James Lintott, and
John White Welch."

" The board having, at the special meeting of the Bth
February, 1849, given a pledge that the auditors should
be elected by the general body of members,. considered
that as the time of carrying out that understanding a good
opportunity presented itself cf making some alterations
in, and additions to the rules; et:Tordingly, at Vie special
meeting of the members held at the London Tavern, on
the 2d of January, 1850, various other alterations and
additions were proposed by the board, and approved by
the meeting. These alterations were certified by Mr.
Tidd Pratt on the 14th instant, and consequently are
now in force. One of the most important alterations
was to increase the amount to be assured on any one
life from 1,0001. to 2,0001.
"In order to give every f4cility to the extension of the
business of the association the board have determined to
adopt a table of premiums for assurances not participating
in profits.
"On previous occasions the I card have directed the at-
tention of members to the important privilege they pos-
sess of nominating any party to receive the amount of
their policies free of legacy or prof_ we duty, or any other
expense whatever; and they would again strongly re-
commend all parties, who have not already done so, to
avail themselves of the great advantage they possess
under the Act of Parliament, and at the same time to
make it known among their friends to the greatest pos-
sible extent; the managers are satisfied that were the
peculiar advantage thus enjoyed by this association ge-
nerally made known, it would lead to a great accession
of business, promoting the irtarest of the association at
large and of every individual member.
" The board also direct the attention of members to
the importance of having the age admitted on their po-
licies at the time cf effecting the assurance, or as soon
after as possible, by which much ulterior inconvenience
would be saved to the members or their representatives,
and the business of the office would be greatly fa-
cilitated.

" The board, in conclusion, whilst congratu'ating the
members on the successful result of the operations of the
past year are, nevertheless, fully impressed of the nue ,-
wy for continued and increased exertion!, and they call
upon the members generally to co-operate with
them in promoting the business of this excellent as-
sociation."

The CHAIRMAN, in moving the adoption of the re-
port, said the first thing that occurred to him was
mutual congratulation that they had been spared to
meet again on this occasion, when twenty of their
members had been cut off during the past year ;
this was the ninth time the board of management had
had the agreeable opportunity of presenting themselves
before the members, on all occasions receiving that
hearty co- operation which he thought would be ex-
tended to them on the present occasion. They would
observe by the report that the directors had greatly
increased their business during the past year, out of
all proportion to former years. To what cause to as-
cribe that it was rather difficult to say. It was re-
ferable to a variety of causes ; but the managers bad,
during the past year, used no small exertion
in various ways to accomplish what, he
was happy to say, was so favourable a
result. Whether it arose from advertising,
from deputations, from the issuing of something like
16,000 circulars during the past year, or from
whatever cause, certain it was that they had
made a very rapid progress, and he hoped it
would be continued during the present year. It cer-
tainly bore out the prognostications of the board on
former occasions, that this society was destined to
become one of great importance ; every day showed
it was approaching to that position ; and, although
they were all heartily pleased with the great addition
made in the number of members, and the amount
during the past year, that was not the only thing
that was gratifying to them, it was the know-
ledge of the many members added to the already
great number, whereby so many families were pro-
vided for, and so many wives, and children,
were feeling that comfort which the provision
made by so many members had procured
for them. These were circumstances which were
most gratifying to the feelings of the managers,
because they had commenced the association wi.h the
earnest desire that it should enable, till then, unthink-
ing men to make provision according to their means,
more or less, for those they might leave behind
them. They had beard in the report an allusion
made to the process by which members in
their lifetime might, by signing a certain form
of nomination provided by the society,:save them-
selves a great deal of trouble now, and their survi-
vors a great deal of expense afterwards. It was a
simple process by which the probate and legacy duty
might be saved upon life policies, and also a great
deal of law expense.—(Cheers.) Another important
point was the arrangement by which the members
might have their age admitted, which would also
save an enormous deal of trouble. During the past
year deputations from the society had held public
meetings in Manchester and Liverpool, among other
places. His friend, the deputy-chairman, who was
present at the Manchester meeting, would probably
make some reference to it in the course of the even-
ing. While at Liverpool several letters were re-
ceived from gentlemen in Ireland, expressing their
desire to become members of this association,
but it was not thought desirable by the managers to
extend their affairs to Ireland.—(Hear.) But inas-
much as there was some opinion expressed by several
individuals having the good of the institution at heart,
that the applications from Ireland should be enter-
tained, and he (the Chairman) being at Liverpool, it
was deemed advisable that he should go over to Dub •

lin and judge for himself whether it would be prudent
or not to extend the business of the society to Ireland.
The result of his inquiries there was contradictory
certainly, but being contradictory it was necessary to
come to the determination not to extend their busi-
ness to that quarter. He would take that opportunity
of alluding to a gentleman who had showed him (the
Chairman) particular attention on that occasion, and
had subsequently written to the board of management,
he meant Mr. Codd, the Secretary of the Dublin
Chamber of Commerce, who was pointed out to him
as a gentleman who could give him great information,
and who had shown him, as a stranger, the greatest
attention. (Applause.) He (the Chairman)
would now publicly acknowledge that at-
tention. The Chairman concluded by inviting
the gentlemen present to put such questions as they
deemed necessary to elicit any information respecting
the affairs of the .association, saying he would do his
best to answer them, and by moving the adoption of
the report and balance-sheet.—(Cheers.)
Mr. lsEust, in seconding the resolution, congratu-
lated the meeting on the fact of their having 20,0001.
invested in the names of the trustees in the Three-
and-a-Quarter per Cent. Consols. It was quite evident
that result had not been brought about without ex-
traordinary exertion on the part of the directors. Ile
understood so diligent had they been during the past
year that can many occasions the meetings of their
committees h:d been prolonged to ten o'clock at ,
night, and that not merely oce,,sionally, but always.
The deputations in the provinces had been extended,
and it was only by their exertions, assisted by those
of the directors, that the knowledge of the association
and the benefits it confers could be circulated through-
out the country.
The resolution was then put and carried.
Mr. DEARE moved a vote of thanks to the Board
of Management, and also that the sum of 5001. should
be awarded to them for their valuable and efficient
services during the peat year. Every member would