The Sun.
London, England, 1844-01-01 00:00:00

NATIONAL PROVIDENT INSTITU-
TION,
48, Gracechurch-street, London,
FOR MUTUAL ASSURANCE on LIVES, ENDOW-
MENTS, DEFERRED SUMS.
IMMEDIATE and DEFERRED ANNUITIES.
broiled under •the Acts of Parliament relating to Friendly
Societies.
DIRECTORS.
C. P. Bousfield, Esq. Thomas Hodgkin, M.D.
John Bradbury, Esq. R. Ingham, Esq.
William Cash, Esq. Joseph Janson, Esq.
Thomas Castle, Esq. S. Hayhurst Lucas, Esq.
James Crofts, Esq.
C. Lushington, Esq.
John Feltham, Esq. John St. Barbe, Esq.
Joseph Hargrave, Esq. Richard Shortridge, Esq.
Samuel Smith, Esq.
MEDICAL DIRECTORS.
3. T. Conquest, M.D.,F. L. S. I Thomas Bevan, M.D., F. L. S.
REP)DRT of the DIRECTORS to the EIGHTH ANNUAL
MEETING of the MEMBERS, held at the Office on the
15th of December, 1843.
CHARLES LUSHINGTON, Esq., in the Chair.
It is with feelings of no ordinary gratification that the Di-
rectors render to the Members of the NATIONAL PROVI-
DENT INSTITUTION, this, their Eighth Annual Report,
of its proceedings.
Each periodical review of the iirogress of the Institution has
afforded abundant evidence of its growing prosperity, whilst the
statement which the Directors are enabled to publish on the
present occasion, exhibits a result far exceeding their most san-
guine expectations.
Before proceeding to a summary of tin, business of the year
just terminated, the Directors would advert to the notice con-
tained in their last Report, that in accordance with the 28th
Rule; the accounts of the Ins' itution were then under the inves-
tigation of an eminent Actuiry, for the purpose of making a
careful valuation of its existing liabilities and assets, in order to
denlare a dividend out of the surplus which might from 'such
valuation appear to exist. That investigation was completed
in January last (by Charles Ansell, E-q., F. R. S., the Actu-
ary referred to), and the Directors have now to congratulate
the Members of the Institution on the great success vi hich
has attended its operations, by effecting a large reduction in
the premiums payable, or by securing correspondingly large
additions to the sums assured on Life Policies • notwithstand.
ing ONE FIFTH of the actual profits declared to be divisible
among the Members has been reserved,.and a reduction equal to
45 per cent. from the premiums of those Members who have
been assured the full term of Seven Years, and at certain ages,
has been secured to them.
The number of Policies issued during the past year has been
703, nearly all of which are of that Class securing a sum of
money payable at death. The number of proposals declined
during the same period is 81.
The annual income of the Institution, which was last year
teported as being 39,360/. 9s. 7d., would have been increased
tu the relatively larger sum of 47,934/. 4s. 3d. ; but of this
ariOunt, 3,714/. Ned. has been allowed or deducted from
the annual premium- of those Members who-hwee' elected to
havele r Premiums reduced in lien of the Bonus added to their
bis The Accounts have been duly audited to the 20th November
16i i.t.t which date the Capital Stock of the Institution was
th713'91. 11.* being an increase of 27,2731. 9s. 7d. on
th: scoummrmeipsosrited last year, and which amount is invested with
in Real Seen Debt, and
onrrs for the Reduction of the National
the Rules of ther
Institution.!a, conformably to the Acts of Parliament and
Th • e claims dm'
leg the past year on the lives of deceased
Members amount to 7,600/., which sum has been paid, together
witThhtehe Bonuses accrued thereon.
Directors have also to inform the Members, that in ac-
cordance with the notice given in the last Report, the business
of the Institution was removed to their Freehold premisesin the
spring of this year ; of the eligibility of the situation and the
nsotperr facilities the premises afford fur carrying on its. busi-
theltu they have already had satisfactory proof. That portion of
building not occupied by the Institution is let to highly re-
slectable tenants, at a rental which leaves the rent-charge to
theinstitution at an extremely moderate sum.
From the preceding statements it will be obsered that the amount of busmess has been very much increased during the
Peat
year ; an increase that may chiefly be attributed to the
gmantages secured to this Institution, by being enrolled under
the Acts of Parliament relating to FRIENDLY SOCIETIES,
as also to the growing disposition on the part of the public to
effect Assurances in an Office where the surplus profit is di-
vided, not among Shareholders, but among the ASSURERS
THEMSELVES.
To the PRINCIPLE of MUTUAL ASSURANCE, as
Carried out by this Institution the Directors earnestly invite
the attention of the Members and the public at large, as also
to investigate for themselves the relative claims for preference
,of the various Life Offices, and they rest confident that none
will he found to combine greater advantages, or that can justly
lay claim to a larger share of public confidence.
The following statement shows the progress of the Insti-
tution from the commencement
Years ending

No. of
Years ending Policies Annual Income. Amount of Capital.
issued.
s. d. £ s. d.
20th Nov. 1836 616 8,021 12 2 10,736 3 0
SIP Pt 1837 435 14,600 0 0 31,692 10 5
„ „ 1838 459 19,934 19 4 46,855 010
SP PP 1839 490 25,497 4 2 64,959 10 10
SI If 1840 494 31,051 10 1.) 90,545 13 9
~ Pt 1841 357 36,357 1 4 114,993 2 4
SP If 1812 364 39,360 9 7 139,806 1 7
.9 PS 1843 - 703 44,219 17 0 167,079 11 2
Total number 3,918

(Signed, on behalf of the Directors,)
JOHN FELTHAM, Chairman.
JOSEPH MARSH, Secretary.
London, 14th December, 1843.

The gratifying result of the valuation of the liabilities and
assets of the Institution referred to in the annexed Report, is
exemplified in the following instances; exhibiting the profit as-
signed to Policies which had been in existence from one to seven
years.

1
t 1,
\ Reduction Equal to a
.1 Age at
iT:i pro: -, Reduction
*.c. s Corn- SumAs- Amount Original „, ,„ per cent. -4.. Mence-1 sured. of Bonus. Premium. riu.u'''''- ontheOri.
ill meat. 1 1 lieu of
Bonus.
¢inal Pre-
- • ............1.,- I mum vs
Years. Years• I Y -------
--
7 5, ,X__.• 'X. s. d. jX.sd.X. s. d. •
7 ,„ 1000 163 11 0 63 0 0 27 17*
z's•,, 1000 115 12 0401816 3 5 1 40
32 7 ') 2000 177 10 I' 54 182011 6 I 39
6 5.i0 44 7 0 13 211 5 1 4 1 39
6 ,
5,2, 2DOO 227 19 09711 8 34 510 35
.• ''' IC9O 106 5 0 4, 10 10 15 10 7 34
500 37 2 0 1t 17 ti 4 2 5 32
S 5;
. 101'0 91 3 0 47 2 6 13 6 4 28
5 41 200) 1146 1,069100 58 11 0 26K
i :30 6,0 37 2 0 15 8 0 4 1 2 26
42 500 28 19 0 17 12 1 313 3 20
; 28 1100 4.; 14 0124 3 4 416 5 19%
7,4; 600 37 80'31 18 8 410 10 15X
-2- ‘.25 2000 69 6 01 44 5 0 611 11 15
2 ;3 3000 140 15 0 224 15 0 1A 23 11 7 1
1 5 0 :11 11 0111 10 0 1 2 6 I 9%
--..;;__;____42........210_0 ,261401708 4 , 3 3 9 ' 4

ftMembers, whose premiums become due this day, are reminded
that the same must be paid on or before the 30th instant.
London, Jan. 1, 1844. JOSEPH MARSH, Secretary.

PAST, the PRESENT, and the FUTURE.
(A NEW YEAR'S ADDRESS.)
The year has cles'd, with all its changeful scenes—
And, lo! another era intervenes;
The year has clos'd upon a busy world,
And a fresh page of life has time unftu Pd.
Tire chiming bells, with intermingling hum,
Proclaim aloud—" Another year is come !
The year is clos'd, and we embrace the time
To greet the public with a votive rhyme.
For while with exultation we review
" The Past, the Present, and the Future," too,
We feel a debt of gratitude is ow'd
For valued favours plenteously bestow'd.
Unbounded patronage has crown'd our trade,
And warmest thanks will be best duly paid.
Oft on his road the trav'ler glances back,
To mark his progress o'er the beaten track :
Thus we examine with observant eye
The advances of another year gone
by ;
And glad we find, on looking at the past,
Our glorious hopes have not been overcast:
When last we hail'd the dawn of " New Year's Day,"
We talk'd of patronage in bright display.
And have we now to tell of favours less "? No lwe triumph in increas'd success ;
Success in all our trading plans is found,
And like a halo does our name surround.
Success attends us through the distant land,
Nor here alone—but where the seas expand.
Success in east and West, and north and south,
Is loudly sounded with a trumpet's mouth.
Success abundant we have seen appear
Each day, each week, each month throughout the year ;
Favours in seasons " past" our efforts bless,
And the bright " present" yields success ! success !
Think not we use exaggerated terms—
Fact, glorious fact, their utmost truth confirms.
Language less strong could ne'er suffice to show
The vast success that crowns our fam'd detot.
Nay, strong as are our statements, we confess
They, are not equal to our proud success;
And hence we have a duty to disehatge—
A duty called for by the world at large ;
Nor would we far an instant be remiss
In executing such a task as this.
With warm acknowledgements at once we thank
All gen'rous patrons (whatsoe'er their rank).
Thanks, many thanks ! warm, hearty, and sincere,
For mighty favours in the by-gone year,
For patronage by which we are display'd
Upon the topmost pinnacle of trade !
Thanks for the spreading fame which thousands sing,
And all that the returning seasons bring !
Nor will we make return in thanks alone,
For patronage so liberally shown.
When last we heard the New Year's bells resound,
We promised much—nor have we left our ground;
Each season new exertions have reveal'd
To merit what a lib'ral public yield.
Again we promise, as we promis'd then,
Nor shall our practice contradict our pen,
Though mighty efforts signalised the "past"
" present' year shall far excel the last,
And " future" seasons to the world shall show
MOur gratitude for what your hands bestow.
ark wht e promise e have much
Aed off era to w
the publiclmore and more. in store,
lietwixt ourselves and patrons there shall be
A mutual zeal—an equal rivalry Reductions and improvements shall be seen,
Far more extensive than have ever been;
Nought shall be left—no stone shall be unturn'd,
Wherein the public good may be concerned.
Our celebrated Mart shall still display
The choicest fashions for the rich and gay ;
While such as move in less important scenes
Shal
evl ' find good clothing suited to their means.
In ry point ourhonse shathrough ou ll be diay'd The most astounding mart splt
the trade.
Can we do more than this, our thanks to show,
()r give a reater comensation ? N. Till this be p
done, we ne'er shall be ato rest ;
tut when we've done it, shall have done our best
And with renewed exertion, such as this,
A smiling public will not be remiss.
We feel assured, that if we try to please
Our g, n'rous patrOns with such acts as these.
That 1 rood success will crown us more than ever,
Anti happily reward for each endeavour
And still with exultation we shall view
past," the "present," and the " future," too !
And tow we T close with many wishkat all may realise "a happya year."sincere,
" happy year" may ev'ry reader see—
Where er his home_whate'er his lot may be !
" A happy year" alike the young and old !
And when another changeful year has roll'd,
AOnee more with pleasure we'll resume our pen,
E.
_ad make our annual settlement again.
'OSES and SON, Tailors, Wholesale and Retail Wool-
d
City.rapers and Outfitters, 154, Minories, and $6, Aldgate,