New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-06-07

eqa-o ~ - s,,srv the yesr could only b. deprived
OF the bonus sccrung between one anhusi ~
Hear hearD wish only 10 refer % me sue
c.sl Of agencies In the Canadss ana me
United states The result Of the experiment nss BEEN
source Of great eradication 10 the directors we
the extension OF the Society abroad VISA attended oy o
scp,ss and therefore bad 10 exercise great deal
Of caution but the principles on which tns society
Is founded had met with the most oers support 10 'n
country we confidently believed that me same iesuus
vroud attend IL elsewhere and We have not been mis-
,sksn az agencies have been established in the United
STATES and we feel much security IN these sgens
a. If they were under our immediate control 10 Lon
don-(Hesr) There is another matter IN wnleh
myself feel much grslned-ss mucn srsnheo rs
with any other part OF operations lne pros
uectus of deferred annutes, esry issued emooa
id the entire argument connected wiz inenoiy sh1
benefit societies IL pointed out the eViis ano sPpIsu
the remedy TO the existing system. had made II Tor
many wears my peculiar study 70 trace TIE exact nStSre
ofthe evils inherent Ia these societies snd IN puosnns
the plan Of this Society explained my views 81 me
subject and md that they have been greatly scquiesced
in by those thinking persons who have bes'owed their
attention upon the subject said thai the SUBSTITUTE
70 those benefit societies did not receive the oeneht from
them hich they protested 10 srord II - no" SIX OF
seven wears ago since the plan which proposed 10
remedy those evils published and sineet received
may saw the sanction Of the general puSlc WITHOUT
however drawing toward IL any great number OF per
sons belonging TO the class to which have referred
Certainly we have great number OF deferred snnuf
tans but considering that II was designed 10 sno,o
the orkng classes In general many advantages "noh
rOud expect 10 obtain unoer the oa y stet ~
may be said thst till recently has not received that AZ
tention and support from them OF which II seems de-
serving During the last year the subecthss been mueh
discussed by the Benef, Societies In England com
uit,ee composed OF Jealous memosrs Of Friendly 90
cisties was formed They had under consideration
every plan proposed either by the GoVernmen! OF
the various companies for the purpose OF auorans inc
working classes the best means OF providing Tor
End ola age and after this Society had requested the
! fullest CATION. they came TO resolution "nicn
they forw arded the board OF directors stsns tnhN
u 81 Nkn frnNrf
,s ,hav had come 70 the resolution that nothing was
40 advantageous the working man or To the ndus''
ous classes in general the plan we hsd proulussea
| Cheers We had much difficulty In convincing those
societies that In subscription for The purpose OF ere
sting fund in sickness waste OF means; and that
the sums thus contributed might be much better ana
economically laid out according to our system thsn oy
allowing II TO be sickness fund. Inc deputAuon tnat
waited upon upon the subject wished US al hrst "
expunge that portion OF the prospectus which had refer
euce 10 this subject the uutiy OF providing sickness
fund and sitter much discussion We intimsted 10 them
the suppresicn OF this argument would amount 10
suppression OF principles and that We could not do
50 with advantage 20 the SOcety-(hear hesE)-out as
many of the working classes much In favor OF SICK
| ness fund although they paying away money Tor a
purpose which affords few OF the advantages which TINS
Institution offers the directors considered thAt TWO
modes OF providing for old age and sickness might co
exist and In fact should eNist-namey, sickness iund
entirely separate from the annuity tund as tue result too
frequently this-ths man found, Ia old age that
although he had been contributor To me general Juno
]
under better system he might have enjoyed by con
tribu,ions from bis labors, al period In life when he
most stood In need OF aid. think therefore, tnat tns
tendency will be that these two departments must OF
kept distinct !, was stated 10 the early part Of the es
Enlistment OF this Society that plan OF deferred an
nuitles would destroy reunions No such thng. IN
fact the constant resnion oil the members OF llen9y
societies tends 20 promote the welfare Oh tne prohue'
classes 20 difuse among them the kndlest icehngs
and sustain them when the rights OF labor are INVADED
sud sm much In favor Of them because thinS theS
- - Va haNa not hrouE
busness of this year any portion Of those policies tina
have como 70 us from these classes. They are ne" IN
surers and are body 10 fact who will require almost
separate establishment, but when you consider ina
there are al least between 100000 and 4O0OOVO con
pectad with these friendly societies. very large elias
20 deal with-snd sufficient II they insure TO any ex
tent 70 pay the expense OF separate establishment &
regulate the receipts and expenditure in connection viii
that department For instance the Manchester nit
of odd Fellows Of The largest societies IN the King
! dom has about two hundred and fifty THOUSAND
members and their revenue is about t3lb,UOO year
but that is only one society DO not wish 10 make an
statement pre- judicial TO that society or TO others OF
similar nature have no desire to underrate the GOO
which they Enthusiastically effect, but know from IN
accounts published by this society OF Odd Fellows eve
rs year shows considerable waste OF means whch
suppose according TO their system is inevitable But
think the adoption OF the proposal we have suomitte
10 them will greatly rebound 10 their adysnage-tha
their resources will be better ecOnomsed and better AM
more probably invested than by systems IN force
. present ] should grntemen that have never sd
dressed a meeting with pleasure, with more prd,
and with Satisfaction than on the present aston
Iear. hear) can see now that our society IS taxing
position which very few societies have taken in
short time (Cheers) We mad great success At hrst
we aiterwsrd progressed more slowly aud now seem
that unexamped prosperity has tumbled upon US; AM
although last year all know, not like ~ to pro
mote that prosperity yet prospects have increased
ia an inverse ratio the distress which has unfortunate
( IL prevailed There!will not, however, be tho sam
pressure upon our expenses next year there has bee
during the last The difference Is have said 80 0O(
owing 10 the expenses which have been incurred in
taoshng agencies they will be less next year, and
think may also expect next year larger bonus tina
az present; and should mention that proof Of III
confidence entertained by the insurers Ia the Society
10 be found in the number OF policies Issued during III
past year the profit scale showing the opinion OF IN
public Of It's great advantages over those societies whic
only declare their profits quinquInsly septenialy
every ten years think that 10 the best proof of publ
feeling should also state that the income is f43y23
ia ID making with Investment nearly f50GOO. Ii
lsi4 the income was e2269j, Last year II 93l7
therefore iusuyng the statement In the report that tn
income has been really doubled within the last tw
4 years Gentlemen with great pleasure will now NOV
that this report be adopted and that be printed AM
j circulated among the proprietors
, The mohsn unanimously adopted
y The Chairman then moved seriatm the reelection o
the directors whose term OF Office mad expired and IN
= reappoiutnent Of the auditors With respect 10 III
4 auditors be stated that Society could possess
u careful or more conscientious auditors than thOse the
had the honor to possess lhey were wen accustomed
% 10 the arduOus and difficult dates which they had
d,charxe and II gave him therefore, great satisfaction
10 state that they discharged their duties In an sbl
manner They both the auditors Of the Royal SO
4 cicty
The motions were respectively agreed 10.
Mr. Adcock said beg 10 propose a vote OF thanks
the chairman snd 10 the directors for their exertion
e | during the past year.
Mr. Hinton seconded the motion. lie said am sure
gentlemen after the able report which you have hear
read by the secretary you cannot but be OF opinion tbs
our worthy directors deserve the best thanks for whs
I they have done for the Society.
, The motion being unanimously agreed TO-
The Chairman ssid-On my own part and on beha
OF my colleagues VINO have taken part In the sbors
the past year, beg 10 return you most SINGER
thanks. assure you that all feel an anxiou
desire 70 make this Institution the fret OF the kind
this country, sud think have done something e
b ready Hear. hear) | think that all the dhculus
which had 10 encounter al the establishment OF III
Institution, are 70 certain extent past think we sh4
}, get something better every year Hear hear
The meeting then separated.
~ The freight money and not the cargo Of the Ca
u menta was Insured in Wsllst. The Office b.
4 $500 on the freight The cargo owned BY
p foreign house, and probably insured ia LOndd'
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