The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1848-04-11 00:00:00

THE FURNISHING DEPARTMENT.

TEFFERY, MORRISH & CO. respectfully
tf invite attention to this important branch of their
Estab!ishment, which is now replete with every Novelty
of the most rrcent production, whether of Native or
Foreign Manufacture, and where the purchaser will have
the advantage of selecting from a large, choice, and well-
assorted Stock of CURTAIN DAMASKS, MOREENS,
TOURNAYS, TABARETS, CHINTZES, BRITISH and
GERMAN TABLE COVERS, in great variety ; SWISS
MUSLIN and NET CURTAINS. of which they have
on hand a splendid assortment. The present disturbed
state of the Continent will doubtless render a further
importation more difficult, and consequently enhance
the value of the article.

COMPTON HOUSE,
CHURCH-STREET, BASNETT-STREET, AND
LEIGH-STREET.

CHEAP FEATHERS FOR BEDS.

GPENNELL, in RETIRING from BUSINESS,
• has on hand a large STOCK of PRIME PURIFIED
FEATHERS, which will be Sold at REDUCED PRICES.
BEDSTEADS,
AND EVERY DESCRIPTION OF BEDDING,
SELLING OFF,

AT THE
FEATHER BED AND MATTRESS WAREHOUSE,
125, WHITECHAPEL, corner Great Charlotte-street.
MANUFACTORY—FEATHER-STREET.
N.B.—Beds Purified and Dressed by Machinery.

LIFE INSURANCE ANNUAL REPORT,

SCOTTISH PROVIDENT INSTITUTION

The TENTH ANNUAL GENERAL MEETING of the
CONTRIBUTORS was held, in the Waterloo Rooms, Edin-
burgh, on WEDNESDAY, the 16th February current. ROBT.
SCLATER, Esq., in the Chair.
The CHAIRMAN said,—l think it due to myself to state that
I have been called upon to fill the office of Chairman, not from
any qualifications which I possess, but upon the simple ground
that I happen to be the Senior Director. I must, therefore,_
crave your indulgence for the very imperfect manner in which
I discharge the duties that devolve upon me. You have been
called together for the purpose of receiving from the Directors
the Report of their proceedings dining the past year. It has
been the privilege of the different gentlemen who have filled
the chair which I now occupy, to congratulate you on the in-
creasing prosperity of the Institution; a privilege which I am
glad to say still remains to me. You will hear from the Report
that we have done a larger amount of business than has ever
been done in any former year of the Society's existence ; and
it must be gratifying to us to know that the number of Policies
opened from the commencement exceeds that of any other
Office in Scotland at tne same period of its history. It is with
no purpose of drawing an invidious comparison between our-
selves and kindred Societies that I make this remark. I men-
tion it simply as a fact, which, whi:e it is calculated to give us
encouragement, must also be gratifying to us as members of
society in general inasmuch as it shows that the value of Life
Assurance is becoming more widely appreciated. Owing to
the extent of disease which has prevailed during the last year,
the Members will naturally expect that a greater amount of
mortality has taken place among ourselves. While such is the
case, we have cause for congratulation that the deaths, though
exceeding the number in former years, have not, even in the
past year, reached the number exhibited in the Tables of the
Society ; and I may remind you of the fact, that up to the
period of investigation two years since, the deaths did not
greatly exceed one•lialf of the calculated amount. (Applause.)
You will have observed by the notice calling the meeting, that
steps have been taken to secure an Act of Parliament, confer-
ring the benefits and privileges of Incorporation. This will be
fully explained to you. I may state, however, that it makes no
material change in the Deed of Constitution. It only alters
some matters of minor detail, and makes such provisions as
are rendered necessary. by the extension of our business in
England. It only remains for me to notice, that the greatest
harmony has existed among the Directors of the Institution,
during the past year, as during all of that time I do not think
we have been called upon to take a single vote. Whatever,
therefore, comes before you, has been brought forward with
our unanimous consent. (Applause.)
Mr. DONALD SMITH Pimple, Convener of the Committee,
brought up the Report of the Directors. After noticing some
of the points already referred to by the Chairman, lie said :
As one of the Directors who retire at this time, I may be per-
mitted to compare the state of the Society, in one or two par-
ticulars, at the end of this, its tenth year, as compared with its
position at the end of the fifth year, when I entered office. At
the end of the first five years. the policies opened amounted to
1200; while at the end of the second five years they numbered
about 307:0. The annual income from premiums, at the end of
the fifth year. was £13,150; and at the end of the tenth year,
£31,344. The accumulated fund at the end of the fifth year
was under £28,000 ; whereas it is now not much short of
£lOO,OOO. (Applause.) I submit that nothing could be more
satisfactory than these results. After what has been said by
the chairman, I need only shortly notice the amount of the
claims that have emerged. Considerin& the almost unprece-
dentedly high mortality of the city during the last two years,
it must be gratifying to know that, even in the past year, the
number of deaths is below the calculations of the Society; and
that, although the amount of claims emerging is greater than
has occurred in any previous year, yet the amount is very little

indeed above last year after the annuities which have fallen in
have been deducted. He then called on the Manager to read
the Report, which is as follows :

REPORT BY THE DIRECTORS,

The Directors have again the pleasure of reporting a larger
amount of new business in the past than in any previous
year.

The number of Policies issued has been 472 ; the sum assured
by these amounting to £213,631 155., and the Annual Premiums
to .t'6171 Os. sd. In addition to these, proposals for a large
amount of Assurances were offered, but declined.

It is scarcely necessary to remark that the past year has been
one of extreme pressure on the resources of almost every class
of society. So large an amount of new business could, there-
fore, have scarcely been anticipated; and it is peculiarly grati-
fying, as an evidence of the extension of Life Assurance gene-
rally, and of the growing conviction on the part of the public of

he same time

as the Directors had the means of tracing, only a 'very small
proportion of the Assurances were made in connection with
loans, nearly the whole having hppn effected for nurnr...

family provision. The effect of the commercial occurrences of
the past year, and of the general scarcity of money, has, how-
ever, been shown in a different way—in the unusually large

to expire, from inability to continue payment this is a result which, in its general aspect, is to be re-
gretted, there is no doubt it is yet a source of considerable gain
to the common fund.

me number or deaths in the year of Members assured for
capital sums has been 32, and the amount of claims thereby
emerging £17,800; on the other hand three Annuities have
fallen in, for two of which sums amounting to £l5OO had re-
ranflx,

y ccu 0(.411 lf. 111 V 1.1.11111 IVEM 01 smaller amount. uonsi
dering the almost unprecedented mortality over the country

~....----
tion in the fact that, imtwithstandiim their increased numbers,
and the now advanced age of some of the members, the deaths
in the year do not exceed one and a quarter per cent. of the
whole number, a proportion considerably short of the average
number provided for by the Tables of the Society.

The net amount of Assurances subsistiniai.llst December,
1847. was t-'1.137.(357 9s. ; and the income from premiums
alone 1.1110;c•ma of

susase,
The position of the London Branch has occupied much of the
Itention of the dirPrtnre [lrwin& fita %Tar..

was essen
t 0m,,1,1 K

um". aluvr uscill, ue
appointed to conduct the business of the Branch. Unfortu-
nately, some difference of views regarding the constitution of
the Branch, in relation to the general management of the
Institution, occurred between the General Board and the Local
Directors, which, they regret to say, resulted in the resignation
of the latter gentlemen. To their influence is, undoubtedly, in
a great measure, to be attributed the decided success which

has attended the establisliment of the Branch; and it is
grati-
fyieg therefore to know, as the Directors do from the best of
all evidence, that their withdrawal has not in any way dimi-
nished their good will towards the Institution, and that their
influence will still be exerted in its favour.
The Directors do not propose to supply their place in the
mean time, but to conduct the business in immediate connec-
tion with the Head Office—for which the rapid communica-
tion between Edinburgh and London now affords increased
facility.
They have appointed Mr. WILMER OWEN HARRIS to the
office of Agent and Secretary, and they trust that, in this
appointment and in their other arrangements, they have made
provision for the continued and increased success of the Branch.
In regard to the Glasgow Branch, the directors have much
satisfaction in reporting that its progress is, in all respects,
satisfactory, and that a large increase of business has been
made in the year. They have also the pleasure of reporting the
continued interest taken in the Society by the gentlemen asso-
ciated as an Honorary Board in Manchester.
In the circular letters and advertisements calling this meet-
ing, the contributors were made aware that the preliminary
steps have been taken for obtaining from Parliament an Act
conferring on the. Society the privileges and benefits of Incor-
poration, The Bill contains a few slight alterations on some
of the minor details of the deed of constitution. These have
already been unanimously si-bnynypd of by tton

to the
111111,C111.1VC
special meetings of the Board ot, Directors, to the latter of which
the Auditors and Trustees were invited—all in terms of Act
37 of the Deed of Constitution.
The Directors have further to report that, a vacancy having
occurred in their number, by the resignation of Mr. Robert
Robertson, they unanimously nominated Mr. AITKEN MEGOET,
one of the original Directors, in his place.
A vacancy having also occurred in the body of Trustees, by
the death of one of their number, the Directors unanimously
appointed to that office Mr. CHARLES COWAN, Member of Par-
liament for the City.
It omains for this meeting to confirm these appointments,
as well as to appoint three Directors in room of the three at
the top of thejist, who now retire in terms of the rules.
The heads of the Bill for Incorporation, referred to in the
report, having been read, and the Bill laid on the table—
Mr. JOHN SCHANK MORE Professor of Scots Law in the
University of Edinburgh, said,—l have been somewhat unex-
pectedly called upon to propose a motion for the adoption of
this meeting, which, however, I do with the greatest pleasure,
because I have,always taken a deep interest in the success and
prosperity of this Institution. I had many interesting consul-
tations vath my late. friend Mr. Cleghorn, before this Institution