The Sun.
London, England, 1842-10-06 00:00:00

ON DIFFERENT SYSTEMS OF
ASSURANCE.

Can Insurers get superior, equal, or less actual bene,il:,
in a Bonus Society than from establishments on other
principles ?
Adduce the man, who, in 1817, insured at 30, for 100/
in the Equitable (here only specifically named as the
leading type of the Bonus class)—the annual premium
tnen andnow 21. 13s 6d. In 1840, what were his pros-
pects ? Re had paid twenty-fbur times 21. 13s. 6d., i. e.
641. 4s.,.improved'at 4 per cent. interest toIO4L 10s. 11d.,
the amount virtually outlaid : and has still to pay
yearly 2L 13s. 6d. Thus the Society have 1041. 10s. 11d.
in band, and further derive from him Cl. 17s. 2d annu-
ally (1. e. the 21. 13s. 6d. and 41. 3s. Bd. interest on sum
saved). For these he is promised 100/ at death, and
221 10s. Bonus, made up of 2i per cent. per ann. from
1831 (the earliest time at which Insurers after 1816 be-
came entitled to anyßonus), to 1840, together 122/.los.with
a prospective 24. per cent. if he die betbre 1850. Modern
rates, if taken in 1817 (as by the Asylum Company
since 1842) without Bonus, would be, premium 2L 25.,
sum paid 50/ Bs, improved to 821. ls. 6d., yielding inte-
rest 3L ss. Bd., and the 21. 25., together 51. 7s. Rd., for
1001. at death.
—Now to contrast :

PAYMENTS.

On Old System, he has vir-
tually paid £lo4 10 11
On Modern B2 1 6

Difference £22 9 5 Cash in hand.
EVENTUAL RECEIPT.
On Old System, at death,
with future Bonus no-
tict-d below
On Modern lOO 0 0
---
Difference £22 10 0 payable at death.
Thus on Old System, the higher premium yields 221. 10s.
more at death, but on he Modern 221. 9s. sd. present
cash in hand, which should purchase at the Equitable's
prihted prict s 40/. 13s. 7d. Bonus, instead of 221. 10s., a
difference fully equal to expectations dependent on a life
now aged fifty-three, surviving decennial periods, and on
other circumstances. Thus as to past, Old has no ad-
vantage over Modern System ; whereas, for future, the
difference between 2/. 13s. 6d. and 21. 2s. is a clear an-
nual saving in favour of Modern.
Other ages would give similar results, and of course
with extended effect on larger sums. A Policy before
1817 would be at a period when fluctuation in the value
of money afforded means of investment which it would
bo sheer speculation to expect to• recur—and a more
recent Insurance might have no Bonus.
It is notorious that the Equitable has afforded the
greatest actual and comparative Bonuses of which the
system is capable.
It .may seem unanswerable, that if Proprietary Com-
panies make a profit, Mutual Assurers without Proprie-
tary must have such profit returned to themselves. This
can never be the case—every soundfSociety will have a
collected fund, to counteract specific contingencies in
deaths. Proprietors furnish this by forming a capital ;
and the premiums necessary for deaths and expenses
are increased to yield interest to Proprietors for the
use of such capital. But in a Mutual Society, no
capital being present, high premiums must be charged
to provide a " Reserved Fund," and of course this can
only be founded on such part of the high premium as
deaths and expenses do not consume, consequently the
Assured can never have all the savings returned, because
portion must be held back to sustain the reserved fund,
and this pardon as above shown exceeds in practice what
a just Proprietary need require as profit on subscribed
captal. In brief the assured pay to a sound Proprietary
excess to yield mere interest : in Mutual Associations a
capital itself has to be created and sustained from time to
time by excess of premium. It is clear therefore that
more must be retained from the assured to form and sus-
tain a reserved fund, than Proprietors need exact as in-
terest for a capital already furnished.
The above, more in detail, may be had at the ASYLUM
OFFICE on inquiring for Paper on " Bonus Systems."
ASYLUM LIFE OFFICE, GEO. FARREN,
70, Cornhill, London. Resident Director

The Northumberland and Newcastle Yeomanry
and Dismounted Cavalry assembled on Friday last
fur eight days' permanent duty, and they have ac-
quired marked attention from their most unsoldier-
like appearance. The awkwardness of the men
mounted on horses of (yen variety of size, has af-
forded great amusement. his a pity the public have
10 pay so dear for their amusement.—Tyne Mercury.

TH-R BRIGHTON MAlLS.—Arrangements have just
"'en concluded between the Post-office authorities
and the directors of the railway for the transmission
of bOth the day and night mails. Hitherto the day
flail only has been carried by railway, the night mail
travelling by the old road, owing to several of the
towns within its delivery not being adjacent to the
railway. Mail carts from the various stations will
now convey the letters to these towns, and the new
arrangements will come into operation in the course
of the present week.
STATE OF TRADE.—The market yesterday pre,
tented the same appearance as it has bornc during the
last fortnight or three weeks; the demand for nearly
all deSeriptions of goods and yarn being very mode-
rate, and prices generally tending downwards.-3fan-
Chester Guardian.

ROCHDALE FLANNEL MARKET, OCT. 3.—The
de-
mand for flannels still continues good, and we have
had a fair average market to-day, at former prices.
The wool market is still heavy, as the manufacturers
'Purchase for immediate use only. Wools of middling
.na finer, quality are father better to buy.
AMATEUR PRIZE FIGHT.—An amateur prize fight
took place on Tuesday in the marshesopposite Graves-
end, the parties being Mr. Burke of trotting notoriety,
,and a Mr. Chilcott. Some words having occurred
between the parties a short time since, the result was
a challenge to a pugilistic encounter, which was ac-
cepted, and a match for 1001. a side was made, and
was named as the day for settling their dif-
ferences. Accordingly, at an early hour the parties,
With their respective friends, proceeded per steamer to
Gravesend,
_ whence they crossed the river, and after
So me delay succeeded in forming a roped arena in the
marshes for the display of their prowess. Mr. Chil-
cott was considerably heavier and taller than his op-
rntmt. After fighting 110 rounds, occupying two
, ours and a quarter, Burke was obliged to cry-
' enough," and was conveyed from the ground appa-
rently much mortified at his defeat.

Tuesday morning, about half-past one o'clock, a
ii,„ brokesituated
out on the premises of Mr. Hulse, chemist,
at No. 37, Leadenball-street. Several
engines
,'were soon on the spot, and were got into
wer 2'l, awl by dint of great exertion the flames
e subdued about three o'clock, but not before a
considerable destruction of property took place. The
to
loss, it is thought, will exceed 1,.0001. How the
e originated could out be ascertained,, nor yet in
what office Mr. Hulse is i.,sured.
MinacuLous ESCAPE.—An attempt at self-destruc-
tion was made on Monday afternem by John Martin,
a man who is well known on the Brip.-aton beach, as
tie master of a pleasure-boat. He had I),:.en living for
several years with a woman somewhat his junior, who
on Sunday morning disappeared, and at the saint' time
he missed a considerable portion of his portable pro-
perty, which, on inquiry, he learned had been I.i:-
stowed by her as a marriage portion on a man tc
whom she, on leaving the house, had immediately got
married, at St. Nicholas church. The loss of his
companion, perchance of his hoarding-s, so preyed on
his mind, that on Monday he resolved on self-destruc-
tion, by throwing himself down the well of his own
house. He was observed in the act of leaping down,
and a young man, a neighbour, at once voluntered to
descend in the bucket. He did so accordingly, and
brought up Martin, who, to the astonishment of nn
50,,5., who had this time congregated
merous per
around the well, proved to have entirely escaped in-
jury. The well, which is at the back of Chester-
field-street, nearly at the top of the bill above Devon-
shire-place, is upwards of 120 feet deep, and contaituul
20 feet of water.
A PROFESSIONAL STEAK.—We had a good dinner, of
course: good dinners constitute portions of travelling.
equipages, with two servants in the rumble. Few
people have any idea of the systematic principle upon
which your free vintner exhibits his rations of solid`
and liquids : accident alone let me into the secret.
I happened to be in the act of ascending the stairs of
of the free-and-easies in the vicinity of Covent-
garden, dedicated to midnight melody and mutton-
chops, as the writer from the landing-place thus be-
spoke the chef de cuisine :--,4 Cook, six muttons,
four Welsh rabbits, and three stealzs (professional),"
with a fall of the voice Never having seen steaks of
that sort, I watched for their appearance with some'
curiosity. As I entered the room, " Glorious Apollo"
was in full grind, first, second, and third, pumping
out their lungs as for dear life. The song ended; in
came the supper; each of the glorious Apollos being
supplied with a slice of flesh, " all bone and gristle,
like a dying gladiator." I never see a dogs'-meat
barrow without thinking of a professional steak.—
S'porting Review.
HER 'MAJESTY'S VISIT TO SCOTLAND.—A report
hsi reat;hed us, which we notice that it may be con-
tradicted or explained, that none of the persons on
boardihe Trident received any gratuity whatever for
their services. Even the stewardess, who was in
'elwe personal attendance on her Majesty, as an ex-
.iperienced female sailor, was not rewarded. If this
statement be correct, we are sure that the omission to
Perform so grateful a duty on the part of her Ma-
jestY's purse-bearer, arises from some mistake, or
perhaps the acknowledgment is only delayed to make
it
the more handsome and the more acceptable.
Count Creptowitch and Prince Labaroff left
London,tEonco3m-epstaenrxd,,ay by the General Steam Navi-
st.l
Dal?S. Strati:lP,
Cant R. s m afeokreti Countess of Lonsdale,
iamburgb, en route for
eterFnurgh
The late Irish Master of the Rolls had his life in-
sured for 25 ooni
He is succeeded in the baronetcy
by his S0I,110:;• Sir COleMaD who was
Called to the'l b
rin 1841.