bluuebunny/crossref_metadata_2025 huggingface dataset:
Of Compound Interest
Authors: Halley Edmund
Published: August 2016

A principal use of logarithms is to solve all the cases of compound interest which are not, without great difficulty, attainable by the rules of common arithmetic. But before we proceed to the practical part, it may, perhaps, not be improper to say something of the foundation or demonstration of the rules we are to give.
On the Law of Human Mortality; and on Mr. Gompertz's new exposition of his Law of Mortality
Authors: Edmonds T. R.
Published: August 2016

In the last number of the Assurance Magazine (April, 1861), there appears a letter from Mr. Gompertz, in which reference is made to his and my claims to the discovery of the law, or part of the law, of human mortality. In this letter, Mr. Gompertz declares that my claim cannot interfere with his claim, because I had acknowledged the priority of his discovery. I admit the truth of this declaration, and can add thereto, that I also am able to declare, with equal truth, that his claim, as now described by himself, cannot interfere with any claim hitherto advanced by me. The law of human mortality, now claimed to be discovered by Mr. Gompertz, differs materially from the law which I have declared to exist. The two laws are in accordance with one another only at one period of life (extending, say, from the age of 15 to the age of 55 years), and then only in a partial degree. It is in this partial agreement, at this particular period of life, that the priority of Mr. Gompertz's discovery consists. The description of the law of human mortality, as now believed by Mr. Gompertz to exist, is contained in a paper, referred to in the letter above mentioned, and since published (page 454) in the Appendix to the Report of Proceedings of the Fourth International Statistical Congress, held in London in the year 1860.
On the Construction and Use of Commutation Tables for Calculating the Values of Benefits depending on Life Contingencies
Authors: Gray Peter
Published: August 2016

It is to a Mr. George Barrett, of whom nothing besides is publicly known, that we are indebted for the principle of the Commutation Tables, and for the method of computing, by means of them, the values of benefits depending on the contingencies of human life. The method was first introduced to public notice, after it had been refused a place in the Transactions of the Royal Society, by Mr. Baily, in an Appendix to the second edition of his Doctrine of Life Annuities, published in 1813. Mr. Griffith Davies, in a work on life contingencies, published in 1825, by certain additions to the tables, and alterations in their structure, according to Professor De Morgan, “increased the utility and extended the power of the method to an extent of which the inventor had not the least idea.” Mr. Barrett's method was also briefly noticed in the Appendix to Mr. Babbage's Treatise on Life Assurance. The method, as improved by Mr. Davies, has since been treated, and a very large collection of tables adapted to it, for both one and two lives, has been given, by Mr. Jones, in his work on annuities, in the Library of Useful Knowledge. But by far the most valuable papers on the subject are two in the Companion to the Almanack, for 1840 and 1842, by Professor De Morgan, which contain the materials of many thousand formulae, applicable to almost every case that can occur. There is also some notice of the method in the article “Reversions,” in the Penny Cyclopædia, which article likewise is the production, we believe, of Professor De Morgan.
Observations on Gompertz's Law of Mortality and the Dependence between it and Simpson's Rule for finding the Value of an Annuity on Three Lives
Authors: Woolhouse W. S. B.
Published: August 2016

In the correspondence that has recently taken place respecting the origin of Gompertz's formula expressive of the law of mortality, it has been stated, much to my surprise, that the investigation first given by that gentleman in the Philosophical Transactions of the Royal Society for the year 1825 was defective and inaccurate. I do not here propose to reopen the controversy on the subject of the originality of discovery, or to enter upon a renewed discussion of certain other allegations that have been so efficiently disposed of by Professor De Morgan and Mr. Sprague; but, after the statement to which I have more particularly alluded, it is only right that I should avail myself of the present opportunity to communicate the circumstance that Mr. Gompertz kindly presented me with a copy of his valuable Memoir in January, 1839, in which the various misprints had, in the most legible manner, been previously corrected by himself, and that the processes so corrected are perfectly accurate in every respect. In order that any one may be enabled to judge of this for himself, I shall here give a faithful transcription of that portion of the Memoir which contains the mathematical investigation of the formula, as it will occupy but little space.
Notes on the Early History of Tontines
Authors: Hendriks Frederick
Published: August 2016

In the third of my papers entitled “Contributions to the History of Insurance and of the Theory of Life Contingencies” after treating upon the earliest examples which, after a somewhat tedious search, I could find of tontine associations practically carried out—examples confined, as it will be recollected, to some comparatively small projects of the Dutch municipalities of Kampen, Middelburg, and Groningen, employed for raising capital sums, by the grant of tontine life annuities, in 1670 and 1671—the circumstance was mentioned, that the credit of the invention was properly accorded to the Italians, or more particularly to the Italian Tonti, whose name has been so effectually incorporated into several languages through the word “tontine.”
On Triadic Combinations of Fifteen Symbols
Authors: Woolhouse W. S. B.
Published: August 2016

In the Diary for 1850 the following; mathematical query was proposed by the Rev. T. P. Kirkman, of Croft, near Warrington:—

“Fifteen young ladies in a school walk out three abreast for seven days in succession: it is required to arrange them daily, so that no two shall walk twice abreast.”

Two answers were printed in the Diary for 1851; one by the proposer and another by Messrs. Samuel Bills, of Hawton; Thomas Jones, of Chester; Thomas Wainman, of Burley; and W. H. Levy, of Shalborne.
On the Methods pursued in Valuing the Risks of Life Assurance Companies, and on the Division of Surplus
Authors: Jellicoe Charles
Published: August 2016

In a paper read a short time ago before the Institute, I endeavoured to show the inexpediency of using, for the purposes of valuation, tables constructed on the principle which characterizes the Northampton table. I did not intend to pursue this particular branch of the subject further; but, finding that more difference of opinion exists in reference to it than I was aware of, and considering that the practice of making valuations by the Northampton table, and by tables framed upon similar principles, is still carried on to a great extent, I am led to offer a few more observations upon the matter previously to entering upon the consideration of some other questions, the correct solution of which materially depends upon a right understanding of this one.
A Budget of Paradoxes (Continued from p. 232)
Authors: De Morgan A.
Published: August 2016

Demonville.—A Frenchman's Christian name is his own secret, unless there be two of the surname. M. Demonville is a very good instance of the difference between a French and English discoverer. In England there is a public to listen to discoveries in mathematical subjects made without mathematics: a public which will hear, and wonder, and think it possible that the pretensions of the discoverer have some foundation. The unnoticed man may possibly be right: and the old country-town reputation which I once heard of, attaching to a man who “had written a book about the signs of the zodiac which all the philosophers in London could not answer,” is fame as far it goes. Accordingly, we have plenty of discoverers, who, even in astronomy, pronounce the learned in error because of mathematics.
An Account of the Insurance Companies in Austria
Authors: Daninos Sandro
Published: August 2016

I. Wiener Allgemeine Wittwen und Waisen Pension Institut. (General Annuity Fund for Widows and Orphans in Vienna.) –This establishment, founded in 1823 under the patronage of Prince Schwarzenberg, has for its object to insure annuities to the widows and children of the subscribing members who happen to die at least three years after their admission into the Society. The widows are pensioned until their death; the children until the age of 20.
On the Settlement of Losses by Fire under Average Policies
Authors: Atkins Richard
Published: August 2016

It is a point well worthy of observation, that while England has been for centuries past so eminently practical in every branch of commercial enterprise, there have been but few attempts made until lately, to examine freely the well-worn rules of insurance business with a view to alteration. There has prevailed a general, and not altogether unwise, determination to let well alone, and quietly continue the system, however faulty, which experience had shown could lead to an ultimate and satisfactory profit.
On the Theory of Progressive Mortality, and its application to Valuations
Authors: Meikle James
Published: August 2016

In this paper, Mr. Meikle advocates the making of valuations by Assurance Companies, not solely in accordance with the actual mortality which may have prevailed, but on the basis of that which it was at first assumed would prevail. He says, “There is inherent, in every table of net annual premiums, a rate of mortality and rate of interest, which it is assumed will be those experienced by the Office; and books and accounts should be so formed as to show at any time to what extent the assumed rates of mortality and interest have come up to the rates experienced, and, by comparing the expected receipts and disbursements with the actual receipts and disbursements, a correct view would be given of the true position of the Office.” He then proceeds to point out what he considers the best methods of estimating the “expected mortality,” and of registering it and the actual mortality from year to year, and gives tables by way of illustrating such methods.
Abstract of a Paper on the Progressive Rates of Mortality as occurring in all Ages, and on certain Deviations; also on Dr. Buchanan’s ‘Physiological Law of Mortality’
Authors: Reid John
Published: August 2016

The progressive rates of mortality, from birth to extreme old age, in a given number of any population, are known from the proportionate numbers who die at the different ages. This is the only mode of estimating correctly the expectation or conceived “security” of life at any given age—viz., by showing the chance which an individual has of living a certain number of years or shorter periods.
On the Tables of Single and Annual Assurance Premiums published by the late Mr. William Orchard, and on a Theoretical Table of Mortality proposed by him
Authors: Gray Peter
Published: August 2016

The values which it has been heretofore customary to tabulate for actuarial purposes, in connection with specified rates of mortality and interest, are those of annuities on single and joint lives at all ages; and from these, by operations more or less complex, and with the aid of subsidiary tables, the actuary has had to form such other values as might be required in the solution of any particular problem in hand. Of the values thus requiring to be formed, those of the single and annual premiums for assurance occur perhaps more frequently than any others; and hence the desirableness of simplifying as much as possible the operations by which these are deduced from the corresponding annuities. To effect this simplification was the object of Mr. Orchard's work, in which, as will be admitted by all competent to form an opinion on the subject, the author has been completely successful. The arithmetical operation heretofore necessary has been entirely superseded, and the required values are found simply by inspection.
On the Interpolation of Logarithmic Series
Authors: Meikle James
Published: August 2016

In this paper Mr. Meikle states it to be his object to simplify and popularize what has been written by Mr. Gompertz and Mr. Farren on the subject in question. He says, “In the construction of tables of mortality, the results arising out of the statistics, viz. the logarithms of the number alive at the beginning of each year, or the logarithms of the probability of living one year, generally proceed so irregularly from age to age that it is deemed expedient to graduate and reduce them to a more consistent and harmonious form. For this purpose it is thought that the characteristic features of the table which is being developed will be as equally retained in any set of equidistant terms of the series as they are now exhibited in the rough and irregular items of the table. Selecting, therefore, the terms of the series at ages 10, 20, 30, &c., or at ages 10, 20, 40, &c., and making these the fixed points of a new series, it is required to interpolate for the values at the intermediate ages.”
On the Sufficiency of the existing Companies for the Business of Life Assurance; with a List of the Companies at the end of 1852, their Guaranteed and Paid-up Share Capital, &c
Authors: Brown Samuel
Published: August 2016

The question is frequently asked, in what respect competition in life assurance business differs from that in any other trade or profession. It is contended, that in trade the effect of competition is to produce a better article at a lower price—to awaken new tastes and desires in the public, and so to create a market, which, notwithstanding the diminution in the price, may afford larger profits to the merchant, by the greater quantity of the commodity which he can sell or the greater frequency with which his capital may be turned. But there is nothing analogous to this in life assurance, for in truth it is nothing more than a redistribution of the capital of the public—a deduction of the portion which one man may save out of his profits in the course of a long life, for the benefit of the family of another who does not live to save it.
On the Calculation of Tables of Mortality
Authors: Quetelet M. A.
Published: August 2016

In order perfectly to obtain its object, a table of mortality must exhibit the actual mortality at the different ages; and to be of any practical use, we should be able from the results of the past to predict events for the future.

The actual mortality can only be directly determined by knowing the population, as well as the number of deaths, which occur at each age. There are, however, very few countries in Europe in which these two elements are sufficiently ascertained. Even in Belgium, the division of the population by ages was but imperfectly known till the census of 1846, the results of which were only published about the end of 1848. It was therefore necessary, in order to form the tables of mortality, to pass over the important element of the existing population, and frame them from the registers of deaths. In this manner, the tables of mortality which I have given successively since 1827 have been constructed on the hypothesis of a stationary population.
On the Settlement of Losses by Fire under Average Policies
Authors: Atkins Richard
Published: August 2016

It was intended that the short essay descriptive of the existing system of settlements of claims under average fire policies, which appeared in this Journal as far back as No. X. (January, 1853), should have been promptly followed by some remarks on the most obvious defects of the system, with a few practical suggestions for their remedy. It is not necessary to explain here the reasons for the delay which has taken place in the fulfilment of that intention; but it is satisfactory to know that the postponement has not been without its use. Many valuable hints have been offered; and although some marked differences of opinion exist as to any proposed remedies, the explanations given of the existing rules are, without any exception, admitted to be correct.
Inquiry into the Average Longevity of Vegetarians, compared with that of Persons who live on a Mixed Diet
Authors: Forster T.
Published: August 2016

Among the many curious facts relative to the duration of human life which have resulted from the persevering inquiries of persons interested in Life Assurance Offices, one very essential question appears to me to have been left undecided—namely, whether, and in what degree, a diet of vegetable food alone increases the length of life. The Vegetarian Society of Manchester pretend, not only that pure vegetable diet renders man almost exempt from many of the most fatal complaints to which we are subject, but also, that it has actually prolonged the average duration of human life. To this question I beg leave to call the attention of your readers: I should like to see it fully investigated and developed. My attention has been directed to the effects of different sorts of food on different kinds of constitution for many years past, and the conclusion to which I have come is certainly in the highest degree favourable to the views of the Society alluded to, particularly as respects longevity, to which the pure vegetarian diet seems to be particularly favourable. Now this circumstance, of which I have not the least doubt, brings the question of diet immediately into the category of facts which are the proper objects of inquiry for all Assurance Companies. Having thus ventured to call the attention of these Companies to the subject, I shall take the liberty of submitting the following facts and experiments to the notice of your readers: they are the result of nearly half a hundred years' observation and experience, made in various countries of Europe.
On the Mortality arising from Military Operations (Continued from p. 174)
Authors: Hodge William Barwick
Published: August 2016

In a comparison of the relative sickness of the French and English armies in Spain, there are, however, several points to be considered. The English was essentially an army of operation, constantly engaged in active service, the brunt of every campaign falling principally upon it; the greater part of the French troops consisted of armies of occupation regularly quartered in the country, and having only to contend with guerillas and the feeble Spanish armies, which they so frequently and easily dispersed. A more just comparison would be made with the army of Portugal, which, though smaller in amount, was more constantly engaged in active operations. The lowest ratio of sickness in this army was 64 per 1,000, and the highest 235 per 1,000; the average being 146 per 1,000, which still is lower than the English ratio.
Annuities on Lives
Authors: Willich Charles M.
Published: August 2016

The tables of the values of annuities on lives, as hitherto constructed, only show the rate of interest which a purchaser may make on the money employed, and replace the capital, provided he can reinvest the surplus income, beyond the interest on the purchase money, at the same rate of interest.
On the Calculation of Survivorship Annuities by the Columnar Method
Authors: Meikle James
Published: August 2016

The assurance of a capital sum payable at the death of a husband is of much more recent adoption than the provision of an annuity during the life of his widow. Some of the earliest Assurance Companies were instituted with the main design of providing annuities to widows and sisters—now, however, forming a very small portion of their business—and very many funds and schemes, instituted at a very early period, are now in existence, throughout the various sections, professions and trades, of the community, whose only end is to secure annuities commencing on the death of the person upon whose income the annuitant may be supposed to be dependant.
On the Relation of the Carlisle Table to the Government, the Registrar-General's and other Tables of Mortality
Authors: Henry Jardine
Published: August 2016

The paper commenced with a general view of the effect of emigration upon returns of deaths among the population of England and Wales, followed by an estimate of the extent to which any calculations based upon such returns, and the general census, must be thereby affected. This was followed up by some remarks on the uncertainty attending the statements of ages of the individuals enumerated in the census returns, and the ages returned as at death. A tabular view of the estimated effect of these causes of error upon the expectation of life, derived from the returns, was also given.
On the Influence of Railway Travelling on Public Health
Authors: Porter H. W.
Published: August 2016

The investigation of the different causes that tend to influence the health of the community, either injuriously or otherwise, is one of great public importance, particularly in a high-pressure age like the present—an age in which it is too much the custom to sacrifice all considerations of health and safety to a determined and eager desire to do in a few hours what our ancestors were content to do in as many days.
Observations upon the Sickness and Mortality experienced in Friendly Societies
Authors: Tompkins Henry
Published: August 2016

The Institute of Actuaries is devoted to the consideration of all questions relating to assurance; and as life assurance occupies a prominent place in the daily occupations of many of its members, it is not surprising that papers on almost every conceivable topic in connection therewith have been read before it. There are, however, various other kinds of assurance well worthy of inquiry, and among these may be classed fire, marine, fidelity, and, last but not least, when we consider the number of persons affected by it, sickness assurance. It is true this last kind of assurance is almost confined to the working classes: they have no wealthy boards of managers; they have no man of science on their staff to direct their proceedings; and they are conducted by individuals who often possess no qualifications for such occupations. For all this, we must admit that every Friendly Society is a mutual Assurance Company; and, compelled by necessity, these Societies have taken up the most difficult and complicated branch of assurance. Not many actuaries have been much occupied with the subject, for it is a branch which does not sufficiently reward those who grapple with its difficulties; we are therefore under the greater obligation to those who have attempted it. Up to the present time, however, I am afraid that the success has not equalled the endeavour.
Suggestions in regard to the Regulation of the Rate of Interest on Landed Securities
Authors: Thomson Wm. Thos.
Published: August 2016

The above is the title to a pamphlet just published by Mr. Thomson. The subject is one of such importance, that we should have been glad had our space permitted to give it in extenso; as it is, we place before our readers the more prominent parts of it. Mr. Thomson says—

“It has been the practice in Scotland for a considerable period to fix the rate of interest on landed securities periodically, with reference to the views expressed on the subject by, or more correctly the decision of, a meeting held in Edinburgh three months before each money-term of Whitsunday and Martinmas.
An Inquiry into the Marine Insurance of Hamburg
Authors: Lazarus Wilhelm
Published: August 2016

When I began to direct my particular attention to the balance-sheets of the Hamburg Marine Insurance Societies, I hoped that a minute examination would lead to conclusions of general interest, and enable us to judge of the risks and state of navigation in general. I hoped that the collection of data and the comparison of the different balance-sheets would not offer great difficulties, and that my examinations might embrace a long period. My hopes have not been fulfilled. I perceived very soon that the work would be very troublesome, and that it would be difficult to form a complete collection of balance-sheets. There were none at the Public Commercial Library, and it was only by the aid of private friends that I at length succeeded in forming a complete collection of the balance-sheets since 1847. Thus I was obliged to limit my comparisons to the years 1847-53; and I think this is the principal reason why the law which governs the events cannot be deduced, and why no general conclusions can be drawn.
On the Construction of Tables by the Method of Differences
Authors: Gray Peter
Published: August 2016

Every mathematical table consists of a series of values of a function corresponding to successive values of the variable, which last series of values forms the argument of the table. Any such table may be constructed therefore, when the function to be tabulated—which may be called the characteristic function—is known, by the evaluation of that function in terms of the successive values of the argument. It is only, however, when the table to be constructed is of limited extent that this method of formation would be employed. If the table be extensive, and especially if the characteristic function be complex, this, which may be called the direct method, would become too laborious, each value when formed in this way also requiring separate verification. In these circumstances the Method of Differences becomes available for the end in view. This method dispenses with all reference to the characteristic function beyond what is necessary for the formation of a few values (which I call fundamental or primitive values), at stated intervals; and in applying it, each value being dependent on the preceding, verification is obtained by the periodical coincidence with those fundamental values of the corresponding terms in the series in course of being formed.
On the Construction of Tables of Mortality
Authors: Woolhouse W. S. B.
Published: August 2016

A Table of mortality is designed to represent the number of lives which, according to the best deductions from past experience, may be expected to survive at the termination of each successive year of age, supposing these survivors to be derived exclusively from a certain number of persons originally taken either at birth or at a given age. As a practical index of the mathematical law of average mortality such a table may be taken as a trustworthy guide for the future, provided that the number of lives which enter into its formation be sufficiently large and the particulars respecting them be correctly registered; and, what is equally important, that the observations shall extend over a considerable number of years.
On the Construction of Tables by the Method of Differences. Section II
Authors: Gray Peter
Published: August 2016

The Calculus of Differences is a somewhat extensive subject, but it is not necessary now to go far into it, or to occupy ourselves with its application to other than the simplest class of functions, namely, rational, algebraical, and integer functions. The theorems we require might have been left to be deduced as occasion for them should arise; but it has been thought better— and the arrangement will certainly be more convenient for reference—to bring the greater portion of them together in this place.
On the Rate of Interest in Loans repayable by Instalments
Authors: Gray Peter
Published: August 2016

My second example is the Austrian Loan of 1865. The conditions are as follows:—

734,694 Bonds, each of £19. 17s. 0d., issued at £13. 14s. 4d., that is, at a discount of £6. 2s. 8d. each.

Subscribers will be at liberty to pay their Scrip in full on any one of the above dates, under discount at 6 per cent per annum.
On the Method of Calculating the Differential Coefficients of a Function from its Differences; and on their application to the Interpolation of functions of one, two or three variables
Authors: Makeham William Matthew
Published: August 2016

The development of the nth differential coefficient of a function in terms of the finite differences is involved in the expansion of the multinomial . A general expression for the coefficient of each power, to the seventh inclusive, is given in De Morgan's Diff. and Int. Calculus, p. 264,—but the extremely intricate character of such general expression renders it desirable to obtain a more convenient practical method of computing these coefficients to any extent that may be required.
On the Liquidation and Reconstruction of an Insolvent Life Insurance Company
Authors: Sprague T. B.
Published: August 2016

The first question that must be considered in connection with this subject is,—When is a Life Insurance Company insolvent? This question has recently acquired greater practical importance in consequence of the passing of the “Life Assurance Companies Act, 1870,” by which it is for the first time in effect enacted that an insolvent Life Office may be wound up, altho it has not committed any act of bankruptcy. Under the old law, even if such a Company were notoriously insolvent, it may be said that practically there was no means of putting a stop to its operations until it failed to pay an accrued claim. This has now been altered, and a Company that is proved to be insolvent can be wound up. The 21st section of the above Act provides that the Court of Chancery “may order “the winding up of any Company in accordance with the Companies “Act, 1862, on the application of one or more policyholders or “shareholders, upon its being proved to the satisfaction of the “Court that the Company is insolvent, and in determining whether “or not the Company is insolvent the Court shall take into account “its contingent or prospective liability under policies and annuity “and other existing contracts.”
On the Use of M. Thomas de Colmar's Arithmometer in Actuarial and other Computations
Authors: Hannyngton
Published: August 2016

The accompanying illustration gives a top view of the instrument. The following description is taken from the Engineer, 20th May, 1870.

It is constructed chiefly of a brass plate A A furnished with eight slots as shown; directly under these slots are mounted eight drums, each having nine elongated cog-teeth of successively decreasing length; over each drum, and between it and the slot, is mounted a square shaft on which slides a pinion wheel, so as to catch any number of teeth on the drum. Each of these pinion wheels is moved by a button a, of which there is one in each slot, the figures at the sides of the slots showing the proper position of each button a for any work to be performed by the instrument, so that not the least trouble is encountered in arriving at the result. The cogged drums gear by bevel wheels with a long horizontal shaft which is also in gear with the vertical shaft moved by the handle b, by which the instrument is worked. B B is a moveable brass plate, which can turn and slide on a round bar hinge at the back; in this plate there are sixteen holes, c, under each of which is a moveable disk numbered from 0 to 9, and arranged so that any one figure of each disk may be brought under its corresponding hole c.
Explanation and Example of a Method of Constructing Mortality Tables with imperfect data; and of the Extension of Gompertz's Theory to the entire period of Life
Authors: Makeham W. M.
Published: August 2016

I have recently tad occasion for a special purpose to apply the formula to a case which, I think, presents points of sufficient interest to justify me in laying it before the readers of the Journal of the Institute of Actuaries.

The chief difficulties encountered in the construction of the following Table have arisen, first, from the extreme paucity of the data for adult ages,—the whole number of deaths observed above the age of 14 being 27 only,—and secondly, from the want (hitherto) of a simple and satisfactory method of adapting the law of mortality prevailing in adult life to the observations for infancy and childhood. I proceed to explain the mode in which these difficulties have (as I venture to think) been overcome.
Observations on the Rate of Mortality in Infancy and Childhood
Authors: Bowser Wilfred Arthur
Published: August 2016

The desirableness of obtaining trustworthy statistics as to the mortality prevailing in Infancy and Childhood has been frequently insisted upon by Actuaries; no apology therefore is needed for placing before the Members of the Institute the results of some original investigations into the subject. Whilst regretting that the materials at my disposal are not very extensive, I trust that this contribution to the subject of Vital Statistics will, nevertheless, be found to possess some degree of value and interest.
On the Law of the Ages at which Life Insurances are effected
Authors: Chandler S. C.
Published: August 2016

If a classification be made of any considerable number of life policies according to age at issue, a cursory inspection will show that the numbers at the different ages are not fortuitous, but are subject to some unknown, though plainly marked, mathematical relation; and the amenity of the results to law will be more evident as the number of policies employed in the classification is larger, and the effect of merely accidental fluctuations is consequently more nearly eliminated.
On the Arithmometer of M. Thomas (de Colmar), and its application to the Construction of Life Contingency Tables
Authors: Gray Peter
Published: August 2016

The Arithmometer of M. Thomas (de Colmar) has been already brought under the notice of the readers of thisJournalby General Hannyngton, in a remarkably lucid and suggestive paper, which will be found at p. 244, vol. xvi. General Hannyngton, in his paper, explains the manner of working the machine, and gives examples of some of its applications to the construction of actuarial tables, with hints as to others. These afford an idea of the very striking adaptation of the machine to the formation of such tables; and they cannot fail to have excited the interest of many of the readers.
On Mathematical Statistics and its application to Political Economy and Insurance. (Continued from page 189.)
Authors: Wittstein Theodor
Published: August 2016

Besides the probable error above considered, there is another quantity of some importance in practice, which may be called the Risk of a departure from the most probable number of survivers. It is obtained by adding together the products of all the possible positive deviations in the number of the survivers from its most probable value, each multiplied into the probability of its occurrence; or by adding together the products of all the possible negative deviations in the number of the survivers from its most probable value, each multiplied into the probability of its occurrence; in this case, however, taken without sign. For if we consider the deviations from the most probable number of survivers, taken without regard to sign, as represented by proportional sums of money, then the quantity just defined evidently expresses either the mathematical expectation of gain of a person who is to receive those sums, or the mathematical expectation of loss of a person who is to pay them. The latter of these two ideas more generally occurs in practice.
On the Value of a Reversionary Annuity Payable oftener than Once a Year
Authors: Evans William
Published: August 2016

At one of the meetings of this Society last session a paper was read on this subject by Mr. Meikle, which gave rise to considerable discussion on the question; and as no definite result was arrived at, I believe a further investigation of the problem will not be without interest. Accordingly, I propose to go over the various formulas given for the value of this annuity, and offer some remarks upon each, stating wherein they are essentially different, and what appears to me to be the exact interpretation of each.
On the Values of Annuities on Assured Lives
Authors: Berridge G. W.
Published: August 2016

The effect of selection on the mortality experienced by a life office, and the addition which should be made to its reserve when a large proportion of its policies are of recent date, are questions which have often occupied the attention of actuaries; but owing to the paucity of data, no means, so far as I am aware, have hitherto existed for calculating, with any attempt at precision, the allowance which should be made for what is commonly called suspended mortality.
Legal Notes: Some Observations on Mortgages
Authors: Pitcairn D.
Published: August 2016

The law of mortgages is not a subject in which actuaries, as such, can be supposed to take an interest; but the laying out of the large sums in the hands of insurance companies is such an important part of their business, that a few remarks on the subject may be not inappropriate in thisJournal.
On the Mortality amongst Assured Lives, and the requisite Reserves of Life Offices. Part I
Authors: King George
Published: August 2016

Several writers, notably Messrs. Higham and Sprague, have treated of the Mortality Experience of Life Offices, basing their investigations upon various data; and it may be thought that there is no necessity to pursue the subject further. The question is, however, one of great interest and importance, both in its relation to abstract science, and in its bearing on the actuarial management of companies; and as it possesses collateral branches which have hitherto received but little attention, it occurred to me that my time would not be wasted in attempting to elicit new facts, and illustrate old ones, from the abundant materials now at our disposal.
On the rates of extra premium for foreign travelling and residence
Authors: Bailey Arthur H.
Published: August 2016

Few who are engaged in the practice of Life Assurance will deny that the prevailing restrictions imposed on, and charges made for foreign travelling and residence are unsatisfactory to all parties concerned. A considerable and increasing portion of the public whose pursuits or inclinations, especially in early life, take them to different parts of the world, are deterred from effecting life assurances on this account. The value of policies as securities is diminished owing to the uncertainty of the extra premiums which may at any time be imposed, and the risk of the assurances being forfeited altogether by causes over which mortgagees have no control. And actuaries feel that this subject is the opprobrium of their profession; for as in general no sufficient data exist whereby the risks incurred may be measured, the extra charges are therefore arbitrary and unscientific, for the most part little better than random guesses made on no intelligible principles. For these reasons it is hoped that any suggestions on the subject, however imperfect, may not be unacceptable, and may be the means of eliciting some useful discussion.
On a Method of obtaining De Moivre's formula in the simplest terms
Authors: Charlon M.
Published: August 2016

When we consider in a table of mortality the consecutive terms which express the number living at each age, we remark that the differences between those numbers are almost constant in the middle ages of life; they change afterwards, remaining however uniform for another series of terms; so that the table can be considered as a series of decreasing arithmetical progressions. Let c be the difference between lx and lx+1; and let us suppose this difference constant for n years. We shall then have for the value of the life annuity during that time.
Suggestions for Legislation to regulate the calculation and investment of the reserve in Life Assurance Companies
Authors: Hopf Herr Finanzrath
Published: August 2016

At the present time the subject of legislation in reference to Insurance Companies is attracting much attention in Germany as well as England. Until quite recently the regulation of insurance matters in Germany was under the sole control of the several States, as is still the case in the United States of America: the former German Confederation possessing neither the organization nor the authority to interfere in the matter. As a consequence of this state of affairs, we are informed that a company organized in one of the German States was regarded in the others as a foreign company, and all companies, whether German or foreign, which desired to extend their business over the whole of Germany, were compelled to put themselves in communication with more than thirty different Governments, each of which had its own special regulations. Some of the larger States had passed laws on the subject, but the provisions of them differed very widely from each other. In the remaining States, each Government imposed on the companies such conditions as it thought proper. This state of things is evidently very unfavourable for Insurance Companies, which require—more than any other undertaking—a wide field for their successful development. Under the old political organization of Germany, a uniform system of legislation, though long and ardently desired, was quite unattainable. But after the events of the year 1866 had led to the formation of the present North German Confederation, which gives a common legislation to at least three-fourths of Germany, the hopes of reformers revived. The 4th article of the Constitution of the Confederation expressly provides that legislation upon insurance shall belong to the province of the Confederation.
On Mutual Life Assurance; its Aims and Objects, and the Means of attaining them
Authors: Templeton John M.
Published: August 2016

I may say at the outset, that the object of the present paper is not to discuss the merits of Mutual Assurance, as distinguished from the other systems of Life Assurance, but to consider whether there are not special circumstances connected with that system which demand the attention of the professional actuary.
A Comparison of various Methods of Graduation of a Mortality Table considered in reference to the Valuation of the Liability of an Average Life Office under its Assurance Contracts. Part II
Authors: Sutton William
Published: August 2016

In the first part of this paper, it has been shown to what extent the reserve under a single policy is affected by various methods of graduating the mortality experience on which such reserve is based. We will now endeavour to obtain some notion of the financial effect upon the total reserve made by an office at a periodic valuation of its liabilities.
U.S. Parks to Make Adaptation to "Continuous Change" a Top Goal
Authors: Showstack Randy
Published: August 2016

The U.S. National Park Service science adviser calls climate change an "overarching" challenge facing the national parks.
The inhibition of EZH2 ameliorates osteoarthritis development through the Wnt/β-catenin pathway
Authors: Chen Linwei , Wu Yaosen , Wu Yan , Wang Ye , Sun Liaojun , Li Fangcai
Published: August 2016

The purpose of our study was to elucidate the role of the histone methyltransferase enhancer of zeste homologue 2 (EZH2) in the pathophysiology of osteoarthritis (OA) and to develop a strategy to modulate EZH2 activity for OA treatment. The expression of EZH2 in normal and OA human cartilage was compared by western blotting. The effect of EZH2 overexpression and inhibition on chondrocyte hypertrophy related gene expression was examined by real-time PCR and histone methylation on the promoter of the Wnt inhibitor SFRP1 was analyzed using a chromatin immunoprecipitation (ChIP) PCR. Histological assessment of OA mice joint was carried out to assess the in vivo effects of EZH2 inhibitor EPZ005687. We found EZH2 level was significantly increased in the chondrocytes of OA patients compared to normal humans. Overexpression of EZH2 promoted Indian Hedgehog, MMP-13, ADAMTS-5 and COLX expression, while inhibition of EZH2 reversed this trend. Furthermore, the induction of EZH2 led to β-catenin signaling activation by increasing H3K27me3 on the promoter of SFRP1, while the inhibition of EZH2 silenced β-catenin signaling. Finally, intraarticular injection of EPZ005687 delayed OA development in mice. These results implicated EZH2 activity in OA development. Pharmacological inhibition of EZH2 may be an effective therapeutic approach for osteoarthritis.
Large Hysteresis effect in Synchronization of Nanocontact Vortex Oscillators by Microwave Fields
Authors: Perna S. , Lopez-Diaz L. , d’Aquino M. , Serpico C.
Published: August 2016

Current-induced vortex oscillations in an extended thin-film with point-contact geometry are considered. The synchronization of these oscillations with a microwave external magnetic field is investigated by a reduced order model that takes into account the dynamical effects associated with the significant deformation of the vortex structure produced by the current, which cannot be taken care of by using the standard rigid vortex theory. The complete phase diagram of the vortex oscillation dynamics is derived and it is shown that strong hysteretic behavior occurs in the synchronization with the external field. The complex nonlinear nature of the synchronization manifests itself also through the appearance of asymmetry in the locking frequency bands for moderate microwave field amplitudes. Predictions from the reduced order model are confirmed by full micromagnetic simulations.
Silicon Nitride: A Synthetic Mineral for Vertebrate Biology
Authors: Pezzotti Giuseppe , McEntire Bryan J. , Bock Ryan , Boffelli Marco , Zhu Wenliang , Vitale Eleonora , Puppulin Leonardo , Adachi Tetsuya , Yamamoto Toshiro , Kanamura Narisato , Bal B. Sonny
Published: August 2016

The remarkable stoichiometric flexibility of hydroxyapatite (HAp) enables the formation of a variety of charged structural sites at the material’s surface which facilitates bone remodeling due to binding of biomolecule moieties in zwitterionic fashion. In this paper, we report for the first time that an optimized biomedical grade silicon nitride (Si3N4) demonstrated cell adhesion and improved osteoconductivity comparable to highly defective, non-stoichiometric natural hydroxyapatite. Si3N4’s zwitterionic-like behavior is a function of the dualism between positive and negative charged off-stoichiometric sites (i.e., N-vacancies versus silanols groups, respectively). Lattice defects at the biomaterial’s surface greatly promote interaction with positively- and negatively-charged functional groups in biomolecules and result in the biologically effective characteristics of silicon nitride. These findings are anticipated to be a starting point for further discoveries of therapeutic bone-graft substitute materials.
Oxidation of hydroquinones by a (salen)ruthenium(vi) nitrido complex
Authors: Xie Jianhui , Lo Po-Kam , Lam William W. Y. , Man Wai-Lun , Ma Li , Yiu Shek-Man , Lau Kai-Chung , Lau Tai-Chu
Published: August 2016

In the presence of pyridine, [RuVI(N)(L)(MeOH)]+ (L = N,N′-bis(salicylidene)-o-cyclohexyldiamine dianion) readily oxidizes hydroquinone to p-benzoquinone under ambient conditions. Experimental and computational studies suggest a mechanism that involves an initial electrophilic attack at the aromatic ring of hydroquinone by the nitrido ligand.
Novel D–π–A type triphenylamine based chromogens for DSSC: design, synthesis and performance studies
Authors: Hosseinzadeh Behzad , Beni Alireza Salimi , Azari Masoumeh , Zarandi Maryam , Karami Marzeih
Published: August 2016

The application of two novel anchoring groups, 2,4-thiazolidinedione/hydantoin, in the design of sensitizers can affect the performance of DSSCs.
Synthesis of Sn(1−x)Fex@FeySn(1−y)Oznanohybrids via a simple programmed microfluidic process
Authors: Ma Jugang , Wang Junmei , Zhong Xiaodi , Li Getian , Song Yujun
Published: August 2016

Two kinds of nanohybrids were synthesized successfully by a microfluidic process through tuning just the temperature.
Influence of TiO2 nanostructures on anti-adhesion and photoinduced bactericidal properties of thin film composite membranes
Authors: García A. , Quintero Y. , Vicencio N. , Rodríguez B. , Ozturk D. , Mosquera E. , Corrales T. P. , Volkmann U. G.
Published: August 2016

This work investigates the influence of TiO2 nanostructures on the anti-adhesion and photoinduced bactericidal properties of thin film composite (TFC) membranes.