Nelson Chronicle, Colne Observer, and Clitheroe Division News. — 1897-07-16 (Nelson, Lancashire, England)

BRITISH WORKMAN'S AND GENERAL ASSURANCE COMPANY, LIMITED. The list annual general meeting of the shareholders of the above company was held at the Masonic Hall,Birmingham,onTuesday,under the presidency of Mr. F. T. Jefferson (deputy chairman).—The annual report stated that the year's operations had resulted in the largest increase ever recorded in the company's business. The increase in the total income from all sources was £Bl,3lo,the increase in premium income being £79,183. The net increase in the number of assurance was 111,02,produeing ft new annual premium income of £S, 361. This large accession of business had involved a heavy expenditure. The new business charges amounted to 03,372, making a total for the five years ending 30th April last of £295,530, debited to revenue for new business and extension expenses. Having regard to the fact that the income of the company had now reached the grand total of £519,561, the directors were of opinion that whilst still fostering the influx of desirable and profitable new business, their efforts should be strenuously directed to the conservation and consolidation of the business already in force. The directors believed that this course would enable thetu rapidly to augment the assurance fund, and they relied upon the assistance of the company's repre-1 sentatives in this direction. The clams had been £44,434 heavier than last year, and of this amount the sum £18,435 is due to the larger number of endowment policies maturing during the year. The directors regretted to report that their anticipationeof thevolume of business to accrue under the special industrial tables had not been realised. The amount of business done had not been commensurate with the heavy expenditure involved in the introduction of the tables. The directors, however, believed that when the advantages of the system of yearly, half. yearly, or quarterly payments were more widely recognised, a very large business would result amongst the thrifty industrial classes. The total income of the company was £319,561 Bs. 5d., and the expenditure £187,427 lie. 31, leaving a surplus balance on the year's account of £32,133 17s. 2d. Of this amount the directors had decided to set aside a sum of £17,000 as an investment reserve fund, and roonnmended that the remainder should be laded to the assurance fund without declaring a dividend.—ln moving the adoption of the report, the Chairman said the directors, in spite of the large amount of profit earned, were not satisfied, and determined upon what might be considered by some as a very drastic policy in declaring no dividend. He believed that this policy would commend itself to the majority of the shareholders, and would show the policy holders that their interests were paramount. The establishment of an investment reserve fund was necessary, and the directors were determined. They were willing to admit that this should have been done before, but as it had not, they milked the shareholders to sanction the proposal laid before them that day.—Mr. John Booth seconded the adoption ft to report.—The Chairman said the four new directore were costing the company nothing in fees, while since their accession to the Board the inner expenditure hail been reduced by £35 per week.—The report was adopted with only one diesentient.—Mevire. J. A Patrick, J. W. Drake, T. Deleion, and W. Greenlialgh were re-elected directors, /1,141 the sum of £l,lOO was voted to Mr. Henry Port (the late managing director) as a retiring iillownvicii.—Votee of thanks to the directors and the staff concluded the meeting.  The Sheffield Corporation have jest completed their first year of trainwey management. The incrotts,sl earnings ezeoed 0,000. Wtlliarui Shields, who was tried at the Manchester Assizes for tho murder of his wife, mid found guilty of manslaughter, we., on 'rlllmley, Soutonead to twenty years penal servitude. Before Mr. Justice Cave and a jury, MI'S. Adel* Garside was awarded CIO damages and costs against a dentist named Gore Gear, carrying on business at Clapham Junction, for injuries caused in destroying a nerve of a tooth with a red-hot iron. _ _  A fine model of her Majesty's first-class battleship Mars, built by Mcssrs. Laird Brothers, has been let to the Royal United Service institute Museum, Whitehall.  The committee of the Central London Ophthalmic Hospital, Gray's Inn Road, have received a donation of £4OO from Mrs. James Packe towards the building fund of the institution.  At the meeting of the ‘Vemt Derby Board of Guardians, the rnsigicition of Dr. Chapman, medical superintendent of Mill Itond liifinotry, ou account ot ill-health, was received with regret.  A