The Sun.
London, England, 1844-05-09 00:00:00

r given to new insurers to enter into the Society.
We thought it worth while to notice the advantages de-
rivable to the Society from the system of deferred annui-
ties first established by thi Society; and inasmuch as at
first those deferred annuities were introduced to correct
the evils arising from benefit societies, it was considered
by the public as belonging peculiarly to the industrious
classes. But they will be found equally advantageous
to the wealthier classes. If a capitalist who has got 100 Z
a year, or 50/., or 10/. to spare from his income, and
who desires to run the chance of living to a certain
age, or who wishes to nominate his children, will take up
our tables, and taking choice of a life at a
period furnished by them, he will find that no
investment of surplus income would be more profit-
able than the purchase of a deferred annuity.
The reason is this, that from a calculation of decrements
or deaths, it will appear that only a certain number
will attain the age stipulated, and consequently one-
third of the capital paid by those who have died will
make an addition to those who live and have made their
payments. For instance, if a man insures at thirty, and
lives to sixty, thus making thirty payments, he will re-
ceive back not only his own thirty payments, calculated
at compound interest, but the calculation assumes that
out of every 100 who enter with him, a great
number will fail to reach the required age, and he
will therefore become entitled, in addition, to one-
third of the sum contributed by those parties.
This system will, I think, from indications which I have
perceived, be resorted to by many more in the shape of
an investment of capital, and as a speculation on their
own lives, just as tontines were at one period sought
after in this country. I am happy to be able to say,
from communications which have taken place with
countries beyond the Channel, and from parties there
who have well considered the plan of the Society,
that they are likely to join it. Those communica-
tions are complimentary, and show that those foreigners
who have considered the plan, are perfectly satisfied with
its perfect justness and the paternal interest, so to say,
the Society takes in the assured. I think the Society
will attain a considerable accession, either by those parties
entering into it under the deed of settlement, or by en-
grafting themselves in connection with it. With regard
to the business of the Society, I think it is the best
proof that can be given of the solidity and soundness of the
Institution, that there is a considerable balance of profit,
and that it is able to pay the heavy claims which
it has had to meet, and particularly last year.
We have placed our accounts in all their amplitude
before the meeting ; they will bear the utmost scrutiny ;
we have not sought to disguise our losses, as we are
of opinion that the best mode of securing public
opinion in our favour is to treat the public with
confidence—the more these matters are laid open
the more advantage will be gained thereby.
Gentlemen, I will not detain you any longer. It is not
the fashion in the City of London to make long ad-
dresses.—(Hear, hear.) I will conclude by moving that
this report be received by the meeting ; that it be printed
for the Proprietors, and circulated ; and that the appro-
priations made and settled by the deed of settlement be
made accordingly. Those who are of opinion that the
report should be received, printed, and circulated, will
please to signify the same in the usual manner.
The motion was carried unanimously.

The CHAIRMAN then said, the next motion is that
John Griffith Frith, Esq., Hunter Gordon, Esq., and
John Rawson, Esq., be re-elected as Directors.
The motion was carried unanimously.
Professor Wheatsone, F.R.S., and Professor Graves,
A.M., F.R.S., were unanimously re-elected as Auditors.

The CHAIRMAN said this was all the business which
he had to bring before the meeting.

Captain HEAVISIDE said—l think you are well enti-
tled, Sir, to our thanks for the statement which you have
now made.—(Hear, hear.) It is very satisfactory and
gratifying to find that from year to year the audience
diminishes. This circumstance clearly shows that the
Proprietors feel increasing confidence in the Direction,
—(Hear, hear.) I therefore beg to propose a vote of
thanks to the Chairman and Directors for the statement
which they have made to us on this occasion.—(Cheers.)
Mr. DEES, of Newcastle, seconded the motion, which,
on being put by the mover, was carried unanimously.
The CHAIRMAN said—lt is my pleasing duty to thank
you for myself and my colleagues, for the confidence
which you have placed in us, and for the kind manner
in which the vote of thanks has been received by the
meeting. I trust that next year we shall, if possible,
have a still better account to render.—(Loud
cheers.) The few last years have, it must be
remembered, been years of considerable depression
and distress. Every branch of industry has been af-
fected, and there has been such a lowering of the value
of money as greatly to increase the difficulty of making
good and profitable investments. Considering the state-
ment of Sir Robert Peel in the House of Commons, my
opinion is, that money will rise considerably in value as
the result of the measures which he has proposed.
Whether those measures will tend to produce prosperity in
the country is, of course, another question ; but I firmly
believe that the owners of money will find that species
of property increased in value, and, of course, therefore,
those who are engaged in the business of life assurance
may expect a higher remuneration than they have
hitherto had for the capital employed.—(Hear, hear.)
I thank you, gentlemen, most cordially for the manner
in which you have acknowledged our services ; and, on
behalf of the Directors and myself, I beg again to return
you our best thanks.
The meeting then separated.

THE PITMEN'S STRIKE.—As yet no advances
towards conciliation have proceeded from either coalowners
or their workmen, the latter, since our last, having re-
ceived a fresh stimulus from the various sums subscribed
to their relief fund, amongst which may be named 201.
contributed by the quarrymen of Gateshead. However,
we regret to learn that the pitmen, in certain instances, are
breaking up their sick societies, and dividing those hard-
earned funds which they had wiseiy provided for days of
affliction and death. Partial workings are still going on in
several collieries. On Tuesday evening a meeting of the
working men of South Shields was held in the Primitive
Methodist Chapel, when they were addressed by a deputa-
tion from the Pitmen's Union. On Thursday a large meeting
of the pitmen was held on Tynemouth Sands, at both of
which meetings the principle of " peace, law, and order," was
strictly enforced, and a determination to carry out the strike
was manifested. Burdon Main and Percy ]]fain collieries are
partially at work, and Jarrow pit, it is expected, will com-
mence this week. A number of special constables have been
sworn in for protection. A quantity of coal is still sent
down by the Pontop and Shields Railway, which is more
than enough for manufacturing purposes. On Saturday night,
one of the overmen at Hebburn colliery was assaulted, but we
have not heard of his being seriously injured. Meetings were
held by the pitmen at Percy Main, Durham, and Gateshead
Fell yesterday, for publicly discussing their grievances ; and
this evening a public meeting, with a similar object, will be
held at the Music-hall in this town, and in the early part of
the day a meeting of the delegates from all the collieries will
take place at the house of Mr. Jude, Manor Chare.—Tyne
Mercury.
SAVINGS' BANKS.—This Bill, which was issued
en'erday, contains sixteen clauses. After the 20th of
%Noveober next, deposits of one depositor not to exceed 201.
in any o:le
year, or more than 1201. in the whole. When in-
vestments amount to 1501. the interest is to cease. The
Act is not 1:9 affect deposits of 2001. on the 28th of July,
or deposits of 150/. or above in November, 1844. From
and after the fiOth of November next the interest payable
to trustees of savi.3gs' banks shall be at the rate of 2d. per
cent. per diem, and the interest payable to depositors not
to exceed lid. per cent. per diem. Depositors, on
making first deposit, to sign a declaration, and a copy
thereof to be annexed to the deposit-book and witnessed.
Any officer of a savings' bank misapplying any money en-
trusted to him to be guilty of a misdemeanour. Depositor
to produce his book at the institution. Annuities not exceed-
ing 40/. may be granted to husband and wife. Where
I deposits and interest do not exceed 501., and where wills, &c.,
are not proved within three months, the money may be paid
to the widow, or other party entitled to the effects of the
deceased. Disputes to be referred to barristers, with liberty
to inspect books and examine witnesses. Repeal of part of
9th Geo. IV., c. 92, as to the deposit of rules with clerk of
the peace. wo copies of rules to be submitted to barrister
for his certificate ; one copy to be returned, the other to be
transmitted to the Commissioners of the National Debt.
SATISFACTION OF JUDGMENTS.—A new order of
the Common Law Courts as respects " Satisfaction of Judg-
ments," has just been promulgated, whereby we find it is
ordered—" That for the future it shall not be necessary to have
a warrant of attorney to acknowledge satisfaction of a judg-
ment, or a Judge's hat thereon ; but it shall be requisite only
to produce a satisfaction-piece, similar to that in use in the
Court of Queen's Bench, except that in all cases such satis-
faction-piece shall be signed by the plaintiff or plaintiffs, or
their personal representatives, and such signature or signa-
tures shall be either witnessed by a practising attorney of one
of the Courts at Westminster, expressly named by him or
them, and attending at his or their request, to inform him
or them of the nature and effect of such satisfaction-piece
before the same is signed, and which attorney shall declare
himself, in the attestation thereto, to be the attorney for the
person or persons so signing the same, and state he is wit-
ith such
less as such attorney; but any Judge at chambers shall e
tti off
omakerpla
plaintiffs,
ffo order eorr dispensing
personal
w
signature
of erepresentatives,
under
special circumstances:, as he may think right ; and that
powerplain
in case:." where the satisfaction-piece is signed by the per-
sonal rep,7esentative of a deceased plaintiff, he shall prove his
representai:ve character in such way as the Master may di-
rect."
Signe:l by all the Common Law Judges.
POST OFFICE,--rrOM returns laid before Parlia-
ment, it appears that the Cross total payments paid by the
Post-office for the conveyance if the mails by railway
in Great Britain amounted in 1838 to 12,380/. ; in
1839, to 52,230/. ; in 1840, to 51,301 t.: in 1841, to 94,8181;
in 1842, to 77,570/. ; and in 1843, to 96,360/. The total
number of money orders passed through the office in
the quarter ended the sth of January, 1844, amounted to
1,109,720, and the amount thereof to the sum of 2,375,5591.
In the preceding quarter the number of orders was 1,019,544,
and the amount thereof 2,106,117/. (including the orders is-
sued and paid). The amount in London during the same
period was 254,652 against 229,115, and 543,847/. against
485,5727. respectively. The gross total expense of the packet
service between places in the United Kingdom in the year
1842 amounted to 91,324/., and the receipts to 19,016/, mak-
ing the net expense 72,308/. Between the United Kingdom
and parts abroad the gross total expense was 497,258/, and
the receipts 9,153/., making a net amount of expenses of
488,105!. The grand net total expense was consequently
560,4131,