310

ARTES
TIBRARY
VERITAS
JCIENTI
OF THE
UNIVERSITY OF MICHIGAN
+ QUAERIS-PUNULAM AMOE NA
FROM THE LIBRARY OF
Professor Karl Heinrich Rau
OF THE University of HEIDELBERG
PRESENTED TO THE
UNIVERSITY OF MICHIGAN
BY
Mr. Philo Parsons
of DETROIT
1871
не
92465
672
J27

A GUIDE
University PARSONS LIBRARY
TO THE
1921

of
MICHIGAN
FORMATION AND MANAGEMENT
OF
FRIENDLY SOCIETIES
FOR
ASSURANCE, INVESTMENT, & EMIGRATION,
UNDER THE ACT 13 & 14 VICT., CAP. 115:
WITH
RULES, FORMS, AND TABLES.
BY JAMES HENRY JAMES,
Consulting Actuary,
Author of "A Practical Application of the Joint Stock Companies' Acts to the
Registration and Government of Assurance Societies," "A Guide to
Benefit Building Societies," &c.
LONDON:
SIMPKIN, MARSHALL, & CO.,
STATIONERS' HALL COURT;
THOMAS WILSON & SONS, 103, CHEAPSIDE; AND W. S. D. PATEMAN,
WINE OFFICE COURT, FLEET STREET.
MDCCCLI.
On the 15th of August (1851) will be published, in Demy 8vo., price 12s. 6d.
DEDICATED, BY PERMISSION,
TO THE RIGHT HON. THE EARL OF SHAFTESBURY.
AN INTRODUCTION
TO THE
THEORY & PRACTICE OF LIFE & FIRE ASSURANCE;
AND TO
LIFE ANNUITIES, AND REVERSIONARY PAYMENTS:
ILLUSTRATED BY A SERIES OF TABLES OF ANNUITIES AND ASSURANCES,
DEDUCED FROM THE “ENGLISH LIFE TABLE;
RATES OF PREMIUMS FOR FIRE ASSURANCE;
AND FORMS OF POLICIES, GUARANTEES, AND OTHER OFFICIAL DOCUMENTS.
BY JAMES HENRY JAMES,
Consulting Actuary,
Author of " A Practical Application of the Joint-Stock Companies' Acts to the Registration
and Government of Assurance Societies," &c.
LONDON: SIMPKIN, MARSHALL, & CO., STATIONERS' HALL COURT;
THOMAS WILSON & SONS, 103, CHEAPSIDE;
AND W. S. D. PATEMAN, WINE OFFICE COURT, FLEET STREET.
TO
THE RIGHT HONOURABLE
THE LORD ROBERT GROSVENOR,
MEMBER OF
HER MAJESTY'S MOST HONOURABLE PRIVY COUNCIL,
M.P., ETC. ETC.
MY LORD,
THE generous aid you have ever afforded, both in public
and private life, to the Industrial Classes, and to all Institutions
tending to the amelioration of their moral, social, and intellectual
condition, adds greatly to the favour you have conferred upon me
in accepting a Dedication of the following pages. For this dis-
tinguished mark of your kindness, be pleased to receive my best
acknowledgments.
I have the honour to be,
MY LORD,
Your very faithful Servant,
THE AUTHOR.
10291
PREFACE.
A LARGE portion of this Volume is comprised also in another,
recently published by the Author, in which he had the double
object of embracing both the ACTS RELATING TO JOINT-STOCK
COMPANIES AND FRIENDLY SOCIETIES, in connexion with insti-
tutions formed for the purpose of Assurance.*
In the work alluded to, the Author was, by the nature of
the subject-matter, and the great length to which it extended,
necessarily precluded from going further into details of the
practical operations of Assurance Societies than was absolutely
required for their legal constitution and safe conduct, and to
fulfil the expectations held out in its title-page.
The Author has, however, at the urgent suggestion of several
professional friends, incorporated the whole into the present
publication, with a view of affording to the Officers of existing
Friendly Societies, and to the Promoters of new ones, the
opportunity of obtaining, in a separate volume, but with the
addition of numerous Tables and Forms, peculiarly suited to
such associations, that information which has been kindly cha-
racterized as of importance to them; and in so doing, trusts it
may not prove unacceptable to those persons for whose benefit
he has zealously, if not successfully laboured.
LONDON,
9, EUSTON PLACE, EUSTON SQUARE,
July, 1851.
*"A Practical Application of the Joint-Stock Companies' and Friendly
Societies' Acts to the Registration and Government of Assurance Societies," &c.
London: Simpkin, Marshall, & Co., Stationers' Hall Court; Thomas Wilson
and Sons, 103, Cheapside; and W. S. D. Pateman, Wine Office Court:
INTRODUCTION
CONTENTS.
CHAPTER I.
Institution and Progress of Friendly Societies
PAGE
ix
...
***
1
CHAPTER II.
The Friendly Societies' Act
CHAPTER III.
Powers, Privileges, and Liabilities of Friendly Societies...
CHAPTER IV.
As to the Certification of, and Provisions necessary to be inserted in the
Rules of a Friendly Society
CHAPTER V.
Precedent of Rules for a Friendly Society
APPENDIX.
:..
7
12
46
...
55
The Act 13 & 14 Vict. c. 115
...
Report of Select Committee of the House of Commons on Investments
for the Middle and Working Classes
Extract from Minutes of Evidence before such Committee
Official Forms
Tables of Life Annuities and Assurances
...
99
...
117
118
...
122
143
...
INDEX
...
...
:
:
153
INTRODUCTION.
THE character of a nation may be pretty well ascertained from
the general features of its public institutions. When these are
directed to the moral, social, and intellectual training of the
human mind, and to the loftier privilege of a cultivation of
religious principles, we may be sure of the existence of that high
degree of buoyancy and healthiness of mental vigour, accom-
panied by great physical energy, not to be found in any other
condition of society.
As a necessary consequence of so highly favoured a position,
the daily pursuits of a people, apart from those which are requi-
site for their absolute subsistence, will be found, with the pre-
vailing tone of the general literature of the country, to have an
elevating tendency, to induce earnest inquiry, and profitable
labour in the fields of science and art, and to the cultivation of
those branches of trade and manufacture most likely to increase
the comforts, and contribute to the elegancies of life.
In the selection also of personal occupation, whether it be
necessary to the means of living, or, as in many instances it
is, embraced only for the purpose of amusement, or in some
instances, for pleasure and emolument combined, the taste which
promotes recreating exercises of a superior order, will also be
seen to operate in the choice of a profession and business, and
in which the rejection of a degrading, and the acceptance of an
agreeable, useful, yet more preferable pursuit, are predominant.
Very often, indeed, are such examples afforded, in the persons of
the most eminent of our philosophers, statesmen, divines, artists,
authors, merchants, and the leading members of the trading
community, who in early life, from the effect of straitened cir-
cumstances, or obscure but respectable origin, commenced their
career in spheres of occupation or industry, greatly opposed to
X
INTRODUCTION.
their naturally sensitive feelings, and still higher order of mental
and physical constitution. Not the least significant characteristic
of the age; and truly one of the most powerful engines of human
advancement, is the growing, the greatly increasing, we may per-
haps say, the almost universal, desire for, amongst the trading,
the artizan, aye, even the lowest of the labouring population,
and, indeed, the successful effort to found, institutions for the
pursuit of literature, science, and philosophy, and for an indem-
nity, as far as human means can devise, against the losses, evils,
and calamities, incidental to our finite existence.
We may
particularly mention societies, in which assurances may be granted
to their members against the risks of life and property, and the
means obtained for purchasing homes, and creating capital by
which to profitably follow their peculiar occupations either in the
mother country, or her colonial dependencies.
Many of these objects have been hitherto attained in Friendly
or Benefit Clubs, either framed and governed altogether by the
rules and regulations which the experience or ability of their
original promoters have devised, or constituted (but in this man-
ner by far the less numerous instances), under the Acts of Par-
liament which have from time to time been passed for the protec-
tion and encouragement of Friendly Societies.
Numberless although these institutions have been, and varied
and important the statutes relating to them, there has been no
period in which, like the present, has either the character of
these institutions themselves, or of the Parliamentary enactments
in their favour, been so beneficial and complete.
In a subsequent Chapter on the progress and institution of
Friendly Societies, we have quoted from a high authority on the
subject, an approximation to the probable number of societies,
and the amount of their members, capital, receipts, and disburse-
ments, now enrolled under the Friendly Societies' Acts. In
addition to which, and some notices of our own, as to un-
enrolled societies, or those which are not under the protection of
the law, we find by a note appended to a very valuable and
recent work,* "that there are of the Manchester Unity also
* "Industrial Investment and Emigration; being a Treatise on Benefit
Building Societies, and the General Principles of Associations for Land Invest-
INTRODUCTION.
xi
4,000 societies, with 264,000 members, who subscribe £400,000
a year.
In addition, there are the unenrolled Foresters,
Druids, Rechabites, Old Friends, and others. The total is
taken at 33,223 societies, with 3,052,000 members, who sub-
scribe £4,980,000 a year, and have a capital fund of £11,263,000.
The whole adult male population of Great Britain and Ireland
was, at the census of 1841, 6,300,000; therefore, nearly half
the adult population of rich and poor, are actually members of
these societies."
Friendly Societies now indeed form so prominent, so important
a feature in the social economy of the United Kingdom, that
anything which tends to their advancement, either by increase of
numbers, or the perfecting of the system upon which they are
founded, deserves the serious attention of the Legislature, the
statesman, the philosopher, the historian, and the ministers of
every Christian sect. It may be truly said, that their intrinsic
merits alone have prevailed against the strong opposition which
has been offered to them, since their more general introduction,
not only by the advocates of other institutions founded upon the
principle of concentrating the savings of the working classes, and
therefore having some objects common with them, which jealousy
could only have arisen from the narrowest motives, and the
most limited ideas of the vastness and capability of the prin-
ciple, and the numberless purposes to which it could be applied,
but also from the general apathy and distrust pre-eminently shown
by that portion of the community, by a section of which, and for
whom they were really instituted. That feeling and period, how-
ever, have happily passed away, and we find the princes and
nobles of the land, with the leading members of the legal profes-
sion, and the most eminent Actuaries, devoting their time and
attention to the study of the various questions involved in their
internal economy, the solution of which is indispensable to the
proper functions of the legislator, whilst passing enactments for
their protection and encouragement, of the man of law, the
actuary, and statistician, and the arduous and responsible duty
•
ment and Colonization, &c.; by ARTHUR SCRATCHLEY, M.A." Second
Edition. London: John W. Parker, West Strand.
xii
INTRODUCTION.
of preparing a deed of constitution, laws, and tables, by which
they can be safely and successfully governed.
Whilst engaged on these prefatory remarks, which are, from
the great change recently effected in the law of Friendly Societies,
necessary to be made in a work which is intended as a Guide to
their Formation and Management, it may not be uninteresting
to notice other societies of a provident character, which are the
off-shoots of the great principle of association or co-operation,
originated by the middle and industrial classes, and to which we
are indebted for the introduction of the practice of Life and Fire
Assurance, and the many splendid institutions established for its
promotion.
First amongst this excellent class of institutions, we may men-
tion Benefit Building Societies, specially constituted under the
Act 6 & 7 Wm. 4, c. 32, and enjoying also the advantages of
certain of the provisions of the various Acts relating to Friendly
Societies, passed prior to the above statute. The object of these
societies is to enable the members to purchase, by a series of perio-
dical payments, freehold or leasehold property, adapted to the pur-
poses of trade or private occupation; thus, in short, establishing
a principle hitherto unknown and impracticable, namely, the
conversion of rent into capital, by which mere tenants become,
after an interval of a few years, and at a cost not much exceeding
in amount the rent ordinarily paid to their landlords, the absolute
owners of the houses and homes which they inhabit. Collateral
to these, have originated Freehold Land Societies, framed for
the purchase of estates, which are subdivided amongst the sub-
scribers, in parcels sufficient to give to each a vote for the county
in which such allotment is situate.
The original plan of Benefit Building Societies was that
known as the temporary or terminating one, which entailed the
disadvantages of an uncertain liability upon their members in
respect of share subscriptions, and repayments of advances upon
property mortgaged, and an arrear of subscriptions, which pre-
vented a vast number of persons becoming members after the
first year of a society's existence.
The author of these pages introduced, in the year 1845, the
principle of permanent societies, by which these serious objections
INTRODUCTION.
xiii
are removed, and suggested an union of the practice of life assu-
rance with their operations, both of which are much to his satis-
faction now being extensively carried out.*
It may not perhaps be deemed out of place to make the fol-
lowing extracts from his pamphlet on the subject, published in
March, 1846:-
"A combination of individuals, talents, or capital, has ever
achieved more than the unassisted efforts of a single person can
possibly do,—hence have resulted the giant powers, and influence
upon our national prosperity, of the great commercial companies
established in this country, by whose aid our colonies have been
reared, and our trade and commerce extended to every part of the
known world.
"In a similar, but, of course, comparatively a very limited
manner, the establishment of Building Societies has improved
the condition of our social economy amongst the middle and
working classes, by promoting industrious and temperate habits,
and the prudent motive of saving the surplus portions of their
daily earnings a result too praiseworthy and important to re-
quire any further comment. But in these combined associations,
more especially where pecuniary considerations interfere, the
great and only difficulty exists in preventing a sacrifice of indivi-
dual benefit being made to the all-absorbing interests of the
many,—and where the avowed object is that of accumulating
funds by investments made on the property of members, that an
equitable balance be preserved between the lender and borrower
of money, so that the former may receive a fair compensation
for the loan of his capital, and the latter may not be called upon.
to give too high a rate of interest for the advance; and that his
property may not be injured by the excess or mode of granting
security thereon; so that in case of change in the circumstances
of the borrower, or of a sale of his property mortgaged, he may
not be liable to serious pecuniary loss. In these chief points, the
general regulations of the Building Societies appear to be most
defective; and when it is considered that the majority of persons
join these institutions with the ultimate view of becoming mort-
* "Benefit Building Societies, and their Profitable Union with Life Assurance
Societies Practically Considered." London: Partridge, Chancery Lane.
xiv
INTRODUCTION.
gagors, the subject is of great importance, because the results of
such a system, if unfortunate, not only involve the ruin of indi-
viduals, but the character of particular societies; as well as do in-
jury to the otherwise advantageous principles of such associations.
To these objections also may be added the indefinite period of
their existence, creating also an uncertainty as to the amount of
payments required both for purchase of shares and the redemp-
tion of mortgages, rendering, indeed, the return of deposits quite
problematical, and the liabilities of borrowers both undefined as
to extent, and the time in which their payments are required to
be made,—therefore charging their property with an uncertain
debt, the duration and amount of which cannot be ascertained,
thus depreciating its value for sale; and even if an early redemp-
tion of the mortgage be desired by the borrower, no defined
principles of calculation are laid down so as to discharge the
incumbrance by a fixed and equitable payment.
"The general plan of the existing Building Societies, is to
dissolve at the deferred period, when, by ill-luck, or good fortune,
all the shares of the members have realized their full amount
(these most frequently being £120, payable by instalments of
10s. per month). This, of course, is an undefined principle of
action, because the realization of the shares cannot be possibly
anticipated from the subscriptions alone; for by no fair compu-
tation can their payments (made for a term of ten years, which
is generally assigned as the probable limit of duration of the
association) ensure such a sum to the shareholders; the great
reliance being on the fines, forfeitures, and profits made out of
the persons who take their funds on security of mortgage ;-this
is in itself bad,and the practice of bidding premiums or allow-
ing discount for advances, if properly secured, is equally faulty,
and involves the injustice of charging a property with more than
the amount borrowed, and in most instances, the premiums added
to the security almost equal the sum actually lent on the same.
It must, therefore, be evident, that the borrower is sacrificed to
the lender,—a state of things which in the long run will overturn
the societies altogether. Where fair security can be given for a
loan, no undue advantage ought to be taken by the capitalist,
and more especially where persons are associated together for the
INTRODUCTION.
XV
purpose of mutual benefit, and (if such a principle be allowed to
remain) disastrous effects must at no distant time ensue. These,
and other objections, may be obviated, and the really beneficial
effects of such institutions will, as they were originally intended,
then be widely extended. The sordid motives of amassing money,
only for its unworthy possession or improper expenditure, must
be eradicated. The depositor must rest satisfied with ample
security, and not a usurious return; and the borrower will
readily give all that can fairly be required of him. A limited
duration of the associations is not requisite; it is only impera-
tive the shares shall be paid to each subscriber, when they reach
their given amount; and besides the positive wrong done to
mortgagors, by indefinite payments, the interests of shareholders
also suffer by a similar arrangement, because the precise value of
shares cannot be ascertained at any moment when a sale of them
is requisite.
“The practice of bidding for money, has been before reverted
to ;-it often leads to an improvident outlay on the part of reck-
less speculators, and disgusts the respectable man; who, however
convenient the general mode of repayment of mortgages by instal-
ments may be, shrinks from undergoing such an ordeal as a
public competition for that which he is able to secure by all
legitimate means.
"It is impossible, where funds are subscribed by small perio-
dical payments, that all the members can simultaneously become
borrowers let them be satisfied with taking loans by rotation
or lot, and allow the investments to be made on fixed principles
of calculations (irrespectively of fines) that shall repay the
advances in a given time; thus rendering the payments and
liabilities at once definite and equitable. In the same manner,
the shares may also be paid up, and be taken at any time; so
that the hundreds of industrious, respectable, but comparatively
poor men, who are now shut out from these societies, after the
date of their commencement, by the required payment of shares
and premiums for previous years, may be enabled to enjoy their
privileges. The adoption of fines should be for the purpose of
enforcing punctual payment, and be rather applied to the ex-
penses, and general benefit of the associations, than be reckoned
xvi
INTRODUCTION.
as an anticipated source of repayment of loans; or as an induce-
ment held out to shareholders for an exorbitant return on their
deposits, to be derived from the poverty of their fellow-creatures.
"The periodical subscriptions for shares and redemption of
mortgages have many advantages; they promote a prudent
saving of small sums of money which might otherwise be spent
in reckless extravagance ;—and they afford the means of pur-
chasing freehold or leasehold property adapted for residence or
the purposes of trade, to persons, who, under other circumstances,
could not effect such an object. But care should be taken that
persons so making repayment of such advances should have the
benefit of an equitable rate of accruing interest on their instal-
ments made, so that their investments may be really favourable
to them. It has suggested itself to the mind of the writer, that
the benefits of a Provident Association may be combined with
those of a Building Society: and that a very advantageous union
may, at the same time, be effected with the business also of life
assurance and endowments, the principles and value of which,
although spreading daily, are very little understood and appre-
ciated by that class of persons to whom they are the most im-
portant, namely, to the middle ranks, tradesmen, and mechanics.
"Where Life Assurance and Investment Associations are
conducted in connection with each other, greater facilities are
afforded of explaining their principles to persons in the lower
grades of life who might otherwise remain ignorant of the valu-
able results derived from them.
"The business or rather science of life assurance, introduced
into this country from the continent about a century since, has
made rapid progress within the last thirty years, and the prin-
ciples of its institution are daily receiving great improvements
from the labours and experience of modern actuaries. But how-
ever widely diffused it has become, it is ascertained, from statis-
tics carefully collected, that in the United Kingdom, at the pre-
sent moment, not more than one in twenty of the heads of
families have availed themselves of this most desirable provision
against the risk and contingencies of human life; and even then,
that the majority of policies of life assurance issued have been
taken out with a view to secure some pecuniary advance, rather
INTRODUCTION.
xvi
than create a future fund for the maintenance of a family, when
it may please the Almighty to remove its head and parent by
death. Many persons have objected to life assurance because
the chief advantage is secured to the insurer, when he is himself
unconscious of the benefit, forgetting that the trifling payment he
may make annually for such a purpose, if invested in a Savings
Bank, would possibly at his death amount to but a trifle, com-
pared with the sum guaranteed by a life assurance. It has, how-
ever, been thought by the writer that a valuable improvement
may be made in the system, more particularly available to the
tradesman, mechanic, and labourer, if some provision were
devised for the insurer during lifetime, in case of illness, per-
sonal accident, or other serious calamity, thus giving him a
present as well as a future interest in his insurance; and instead
of devoting the profits of life assurances to a Bonus or addition to
be made to the sum assured by the policy on death, to apply
them to a Benefit or Casualty Fund,' to be participated in
during the lifetime of the insurer.
<
“The general ignorance of the principles and business of life
assurance, as well as the little interest taken in it, by the middle
or lower classes of persons in this country, may to some extent
be accounted for, by the amount of the proprietary shares, and
the high rate of premium at which the Capital Stock of the
Established Assurance Companies usually stands in the money
market,—thus preventing individuals of confined means from
participating in the actual profit and business of these institu-
tions. If a more ready access were offered to their practical
management, and some pecuniary benefit could be derived from
it, by persons in a humbler sphere, the case would be different;
a participation in their internal arrangements would beget a
desire of inquiry into their governing principles and important
results: and thus, a very extended application of the system
would be created amongst persons now almost unacquainted with
its valuable provisions. This advantage may be considerably
heightened by blending the operations of Life Assurance with the
benefits of a Provident Association, in the manner before sug-
gested."
Before leaving the subject of Benefit Building Societies, we
Ն
xviii
INTRODUCTION.
must not omit to mention that the application of the principle
of life assurance to the purposes of borrowing members, by which
either a policy payable on the death of the member, if happening
within the loan period, and upon which the premium and
amount of assurance may be reduced from year to year, in pro-
portion to the gradual reduction of the sum advanced; or a policy
by which the periodical payments due to a society after the
death of a member, if happening within the loan period, may
be secured, was originated by Mr. Scratchley, M.A., to whose
admirable treatise on Industrial Investment and Emigration,
allusion will be hereafter made.
The development of the vast resources of our transatlantic
colonies, the increased demand for labour there, and the unhappily
over-burthened state of the labour-market at home, especially in
Ireland, must have been observed to have given during the last
ten years great impulse to Emigration and Colonization; so much
so indeed, as to call forth some exhibition of talent, both on the
part of the existing government of the United Kingdom, and of
our leading statesmen, and philanthropists, by which an improved
and more perfect system could be devised for the outfit, transport,
and permanent settlement of the many thousands of our indus-
trial population, anxious to try their fortunes in those favoured
lands, where, under the protection of their mother country, the
prospect of comfort and competence at least is in view.
So early as the year 1840, the idea of forming societies
amongst the industrial classes, to promote emigration and colo-
nization, had suggested itself; and about the same period the
unsatisfactory state of the law, as to the relation of landlord and
tenant, more particularly in Ireland, was attracting the attention
of the Imperial Parliament, which led to the introduction by Mr.
Sharman Crawford of his Landlord and Tenant Bill, in favour of
the principles of which the late Sir Robert Peel, Lord Stanley,
Lord Palmerston, and the most influential of the Irish members
of the House of Commons agreed.
The universality of adaptation of the principle of assurance,
so eminently successful in pure assurances upon lives, did not
fail to attach itself to these important questions; for we find in
a very able pamphlet (now out of print), published in the year
INTRODUCTION.
xix
1842, by Mr. William Bridges, the origin of Freehold Assurance ;
or the Extension of the Principle of Assurance to Tenancy and
Colonization.*
In an article, which appeared in the Builder newspaper (July
15, 1843), this valuable suggestion of Mr. Bridges is thus
characterized
"One extension of the life assurance principle, a most obvious
one,—is the securing to the tenant the ultimate freehold of the
property for which, for a period of years, or from year to year,
he has engaged to pay an annual consideration, and thus enabling
him to look forward to the absolute possession of an unburthened
property, which he may bequeath to his children."
"This is it give us the thoroughly equitable principle of a
well-calculated life assurance, and we will hazard our lives for
it, that the capitalist who presides over such institution, as well
as the assurers who seek its protection, will each reap the rich
and well-merited reward."
The Westminster Review of July, 1849, under the head of
Freehold Assurance and Colonization, thus raises its powerful
voice in the cause :—
"While we point especially to Ireland as the most suitable
site of the experiments suggested, it is easy to perceive how ex-
tensively the same principle might be made to operate in other
parts of the kingdom, and more especially in carrying out an ex-
tensive and self-working plan of systematic colonization. There
is a magic in the name of 'Freehold' which, in spite of many
serious defects in principle and in practice, has been the secret of
the great favour with which the numerous Building Societies
have been received by the middle, and more especially by the
artisan, classes; and a not dissimilar principle has been lately
put in action with the view of making freeholders, and, conse-
quently, independent voters, of agricultural tenants. The system
in accordance with which these societies have worked, will doubt-
less gradually receive modification and improvement, and it has
need of both. The basis of such improvement will be found in
adapting to the constitution and modus operandi of the societies
* London: Fisher, Son, & Co., Newgate-street.
b 2
1
XX
INTRODUCTION.
the great principles of life-calculation: the immediate and pal-
pable benefit of which, in relation to the purpose contemplated,
is this, that the result and action of years is anticipated; the
freehold is actually secured by the first payment by the first
instalment for the first and every succeeding payment includes
the condition of an absolute assignment, and only requires to be
continued for another year, if the assignee be alive to pay
it."
The great interest which has been taken by the public gene-
rally, in the subject of emigration and colonization, is evidenced
by the exertions of Lord Lyttleton, the Earl of Carlisle, the
Earl of Shaftesbury (when Lord Ashley), the Right Hon. Sidney
Herbert, and other leading members of the nobility and com-
monalty, which has resulted most successfully in their organi-
zation of the Plymouth and Canterbury settlements.*
The Legislature, although usually slow in such matters, has
followed in the wake, and recognized the extreme value of the
object by inserting in the Friendly Societies' Act, the 13 & 14
Vict. c. 115, a power to form societies "for the purpose of
enabling any member, or the husband, wife, or children, or
nominee, of such member, to emigrate."
The impetus thus given has not only roused the curiosity of
the industrial population to emigrate, but a Joint-Stock Colo-
nization and Life Assurance Company has been established, and
the attention of Actuaries given to the mode by which the com-
bined advantages of Emigration and Assurance may be effected.
We now refer particularly to Mr. Scratchley's treatise on
Industrial Investment and Emigration, who, after alluding to
the principle of Freehold Life Assurance already noticed, and
that involved in the well-known principle of Mr. Wakefield, of
fostering and raising the status of emigrants by transferring
colonial land to a superior class of persons, not gratis, as hereto-
fore, but on payment of a moderate purchase-money, and in
applying the powers to providing the colonies with healthy
* According to a Parliamentary paper just published, we find that 580,349
persons emigrated from the United Kingdom in the years 1849 and 1850.
The
number from Great Britain (including 328,090 from Liverpool) was 459,017;
and from Ireland, 121,330.
† London: John W. Parker, West Strand. Second Edition.
INTRODUCTION.
xxi
labourers, despatched to a certain degree, at the national
expense, suggests a third principle, upon which he thus
speaks :-
"The third is as yet untried, and we accept the responsibility
of the recommendation. It consists in the establishment of
Benefit Emigration and Colonization Societies, which, by the in-
strumentality of the co-operative association of the industrious
classes, can be made to supply that which is most essential,
and yet wanting in the first two principles: viz., to create
the necessary funds to enable emigrants, entirely through their
own efforts, to become purchasers of land and other colonial
requisites.
"The nature of a Freehold Life Assurance Company may be
easily and concisely explained. Suitable tracts of country being
purchased from the existing proprietors, would, unless already in
the desired state, be drained, fenced, and otherwise adapted for
immediately profitable cultivation, at the expense of the com-
pany, and, so improved, be divided into small allotments, fur-
nished with the requisite buildings, &c. These allotments would
then be disposed of, by conveying the fee-simple thereof to
chosen persons (who could, at once, enter upon and profitably
cultivate the same), subject to a terminable rent-charge, a part
of which would consist of the interest of the capital expended,
and would be, in point of fact, a rent like that which, in the
usual relation of landlord and tenant, is paid for the hire of land;
while the remainder would consist of the premiums, which would
be paid by the allottees, on the ordinary principles of life assur-
ance, in order to secure, for each, the payment at his death of a
sum equal to the estimated value of his particular allotment. On
the death of one of these original allottees, the sum assured
would not be paid to his devisees or representatives, but, in lieu
thereof, they would become the possessors of an unincumbered
freehold estate. The payment of the annual rent-charge to the
company during the life of the first occupier would be secured by
a mortgage on the property.
“This scheme is considered to be peculiarly fitted, not only
for the improvement of our distant possessions, but also for home
colonization, more particularly in the amelioration of the present
xxii
INTRODUCTION.
condition of Ireland, as in that country extensive tracts of land
might be purchased at so low a rate (as has been determined by
actual investigation), that, if they were adapted to the proposed
purpose with proper skill and due economy, the rent-charge,
estimated as above, need not greatly exceed the sum which,
under the present system of landlord and tenant, is frequently
paid as rent alone, for even temporary occupation; while it
would, at the same time, be sufficient to realize a large interest
for the capital originally expended. The plan, no doubt, offers
a means of bringing about a complete change in the social con-
dition of that portion of the kingdom, by creating independent
yeomen, possessed of the strongest inducements to industry: viz.,
that the fruits of their exertion would be all their own; while a
very high state of cultivation might be expected in the course of
time, from the concentration of the care and diligence of each
farmer on a limited acreage.”
And in continuation of the details, Mr. Scratchley proceeds :-
"We will not, at present, enlarge on the beneficial results,
which must obviously ensue from the application, on a large
scale, of the system we have described, if properly carried out. A
few remarks and suggestions present themselves with reference
to its practical working. In the first place, it appears that the
system of pure life assurance for the whole term of life might, in
some cases, be conveniently modified. The adoption of the
principle of payments for a fixed term of years, independent of
life contingency, might sometimes be preferable; as, for instance,
in the case of a person whose life would not be accepted at the
ordinary rates of life assurance, but who, from skill and know-
ledge of farming, might be so desirable as one of the allottees,
that it would not be advisable to exclude him from participating
in the benefits offered by the association. It may, likewise, be
remarked that the attraction of Benefit Building Societies has
been found to consist in the fact, that they hold out a prospect
of gratifying the desire, which is so universal, to acquire, during
lifetime, possession of property, unincumbered by charges of any
description. These considerations induce us to suggest, that the
tenants should be allowed by the company the option of three
plans: viz.-
INTRODUCTION.
xxiii
"1st. To pay an annuity, including repayment of principal,
with interest in advance, for the whole life; or-
"2nd. To pay the same for any term of years, to be selected at
will by them, independent of life contingency. The property,
passing to their heirs in case of death, with the remainder of the
encumbrance, for the un-elapsed number of years; or—
"3rd. To allow the payments to be made upon a principle
combining life contingency and terms certain, so that, if the life
assured live over the term of years, which he will be at liberty to
select as most suited to his means and wishes, he may have the
property free of all encumbrance; and, if he die beforehand, it
may pass in a similar state to his heirs.
"These three main distinctive plans admit of a great variety
of adaptation. One, however, will be specially advisable. It is,
to make the payments as small as practicable for the first two or
three years, so as to allow the farmer to get settled, and then that
the rates should be increased. We would leave it at the option
of each farmer to select his term and mode of payment, provided
he offered satisfactory security."
It has been the aim of the author, in the succeeding chapters,
to embody as much general information as possible upon the
obligations and privileges which the Act 13 & 14 Vict. c. 115,
imposes and confers upon Friendly Societies, established under
its provisions; and to supply those points of practice essential to
the safe working of institutions, framed for granting life and
fire assurance, and life annuities, in a precedent of a code of
rules, which will be found applicable to those objects.
To have supposed that a single society could effect all the
objects contemplated by the Act, together with those which may,
under a power therein contained, be superadded to the purposes
specially named, or to attempt to provide regulations suited for
all of them, was, in the compass of an ordinary volume, deemed
altogether out of his power. Other and additional aid, it will
be readily conceived, can only be obtained by seeking it profes-
sionally at his hands, or from his brothers in the profession.
With reference to Shares in Societies for Emigration and
Colonization, and the requisite rules affecting the same, Mr.
Scratchley's work contains most important information.
xxiv
INTRODUCTION.
Adverting to the Act, the 13 & 14 Vict. c. 115, by and
under which Friendly Societies can alone be constituted, we can-
not do better (although it may involve slight repetition in the
body of the work) than quote the preliminary remarks of Mr.
William Tidd Pratt, in his excellent "Treatise on the Law re-
lating to Friendly Societies," which comprises a masterly sum-
mary of the provisions of the statute, and a record of important
judicial decisions in reference to these institutions, and therefore
a work indispensable to the officers engaged in their conduct.
((
Friendly Societies are among the various institutions which,
in this country, if formed upon correct principles and prudently
conducted, are designed to encourage the industrious classes in
frugal and provident habits, and to afford some protection from
those ordinary casualties incident to all men, but which fall more
severely on persons in the humbler ranks of life. The independ-
ence and morality of the members are promoted thereby; nor is
the benefit confined to them alone, for the higher classes also
derive a considerable indirect advantage from their establishment;
and while such institutions materially contribute to the physical
and moral welfare of a very important portion of society, they
tend to prevent the increase of the public burthens connected
with pauperism, and the public disorders resulting from dis-
tress.
"The considerations by which Friendly Societies recommend
themselves to the community at large, are well pointed out in a
report by a committee of the House of Commons, made in the
year 1825. The report states: 'It has been observed that the
hostility to Friendly Societies has been nowhere more strong and
controversial than among the patrons of Savings Banks. Of
these institutions your committee will only say, that they are un-
deniably calculated for many useful purposes, and some of which
cannot probably be secured by institutions of mutual assurance;
but it may be affirmed without hesitation, as equally undeniable,
that it is by the contribution of the savings of many persons to
one common fund, that the most effectual provision can be
made for casualties affecting or liable to affect all the contribu-
tors. This proposition, which is indeed obviously true, has been
well illustrated by a writer on Friendly Societies, who asks
INTRODUCTION.
XXV
whether the advocates of a separate and exclusive saving will be
easily persuaded to save their annual premium instead of insuring
their house against fire? Whenever there is a contingency, the
cheapest way of providing against it is by uniting with others, so
that each may subject himself to a small deprivation in order
that no one may be subjected to a great loss. The individual
depositor, not the contributor to a common fund, is really the
speculator. If no sickness attacks him during his year of
strength, and he dies before he is past labour, he is successful in
his speculation; but if otherwise, he is a great loser, for his
savings, with their accumulation, will support him but a short
time in sickness; or even if he retain something in old age after
having provided for his occasional illness, the annuity which he
can then purchase will be very inferior indeed to that which he
would have obtained if he had entitled himself to the benefit of
the accumulated savings of all those who, having contributed for
many years to a superannuated fund, have never reached an age.
to require it. One of the most obvious and immediate advan-
tages that would result to the nation at large, from the extensive
establishment of Friendly Societies, would be a sensible dimi-
nution in the poor-rates. The first effect on such rates would
necessarily be to relieve them from a portion of those claims
which are now largely made on them by the labouring classes
when visited by sickness, who, having no other resource at such
a time, are obliged to seek parochial aid, not only for themselves,
but also for their families. Another, not a trivial, although cer-
tainly a more distant effect, would be produced by parishes being
relieved from the support of all such old and infirm persons as
might have become members of solvent Friendly Societies. The
poor-rates would also be relieved from a great part of those
charges now incurred in every parish for the burial of the poor.
These are some of the direct advantages, and certainly not insig-
nificant ones; but it can scarcely be doubted that the moral
effects capable of being produced would be even more beneficial
to the community than the direct pecuniary benefits through the
diminution of the poor-rates; for every person who is a member
of a well-constituted Friendly Society has a stake in the security
of the country, proportioned not merely to the value of his in-
xxvi
INTRODUCTION.
terest in such society, but to the value of the benefit assured
thereby to himself, which will make him feel the importance of
public order and credit with that strong conviction which indivi-
dual interest never fails to inspire, and interest him not only in
the stability of the administration for the time being, but in the
perpetual stability of universal order and good government.
There is every reason to hope that the wide diffusion of such in-
stitutions will bring back the feeling which formerly existed, and
made the receipt of parochial bounty to be regarded as little
short of a stain on the character, and degraded the recipient in
his own estimation as well as in that of his neighbours; and that
as knowledge advances and the mind is cultivated, so forethought
and prudence will increase; and there is probably no more satis-
factory evidence of the great advantages resulting from the
diffusion of knowledge amongst the labouring classes of this
country, than is to be found in the fact of the present widely ex-
tended and extending disposition evinced by them to make such a
provision, by their own honest efforts, through the medium of
Friendly Societies and Savings Banks, as will avert the misery
which poverty never fails to add to the bed of sickness.
"It may sometimes be feared that the number of eleemosynary
institutions now everywhere established in England, tends
greatly to hinder many persons from becoming members of these
societies, and to encourage thoughtless and improvident habits by
the expectation of obtaining relief from some established public
charity, in almost every circumstance of difficulty or distress to
which they can be exposed; and it would be well for the sup-
porters of such institutions to consider whether their subscriptions
might not, in many cases, be better applied in the establishing
and promotion of Friendly Societies on a good basis, and so prac-
tically teaching the labouring classes that they cannot derive any
permanent and real benefit but what may result from their own
frugality and prudence."
"The earliest occasion upon which Friendly Societies received
the sanction of either branch of the Legislature, was in 1773,
when a bill passed the House of Commons, but was rejected by
the Lords, having for its title, 'The better Support of Poor Per-
sons in certain Circumstances, by enabling Parishes to grant them
INTRODUCTION.
xxvii
Annuities for Life upon Purchase and under certain Restrictions;'
and its intended object was to enable parishes in England and
Wales to grant life annuities to such inhabitants willing to pur-
chase them, and charging them on the poor-rates as a collateral
security. In 1789, the bill again passed the House of Commons,
but met with the same fate in the Lords; and on this occasion,
tables upon an improved system were computed under the direc-
tion of the House of Commons. In 1793, Mr. George Rose
originated, with the concurrence of Mr. Pitt, the first Act
to be found in the Statute-book for the encouragement of
Friendly Societies, the 33 Geo. 3, c. 54. It recites "that
the protection and encouragement of Friendly Societies in
this kingdom, for securing by voluntary subscriptions of the
members thereof, separate funds for the mutual relief and main-
tenance of the members in sickness, age, and infirmity, is likely
to be attended with very beneficial effects by promoting the hap-
piness of individuals, and at the same time diminishing the public
burthens.' After this other Acts, namely, the 35 Geo. 3, c. 111,
the 49 Geo. 3, c. 125, the 57 Geo. 3, c. 39, and 59 Geo. 3, c. 128,
were passed, having for their object the encouragement of these
societies; and it appears that a great many persons took advan-
tage of these Acts, for it is stated by the report of the committee
of the House of Commons before mentioned, that between the
years 1793 and 1819 a great number of Friendly Societies had
been instituted. In 1802, no fewer than 9,672 appear to have
existed, and in 1815, the number of members of these societies
was estimated at 925,429; and there is no doubt that during
that period very considerable relief was afforded to parishes, for
the select committee on the poor-laws, which sat in 1817, report
'that they have reason to believe that Friendly Societies, judi-
ciously managed, have, in some parishes, tended greatly to the
amelioration of the condition of the people; and that they should
be secured by the contributions of the parish.'
"All these Acts were repealed in 1829, by the Act of the 10
Geo. 4, c. 56, which conferred many very great privileges.on
Friendly Societies; and in 1832, the 2 Will. 4, c. 37, and in
1834, the 4 & 5 Will. 4, c. 40, were passed, confined for the
most part to matters of regulation. In 1840, the Act of the
xxviii
INTRODUCTION.
3 & 4 Vict. c. 73, was passed, taking away from certain societies
assuring the payment of more than £200, the exemption from
stamp duty contained in the former Acts, and the privilege of
investing their funds in a Savings' Bank, or with the National
Debt commissioners; but containing a provision enabling such
societies to make a rule empowering a member to nominate any
person to receive the sum assured; the effect of which was to con-
fer a very great privilege, as a member could thereby virtually
assign his policy of assurance without any formal deed of assign-
ment, and without incurring any ad valorem stamp duty; and
the amount assured could be also virtually bequeathed, and would
become the property of the legatee free from legacy duty, and
need not be considered as composing part of the deceased mem-
ber's property in calculating the amount of probate duty. In
1846, it was considered necessary to pass another Act of Parlia-
ment for the regulation of these societies, the 9 & 10 Vict.
c. 27; and in consequence of a decision by the Court of Queen's
Bench, confining the meaning of the words contained in the
4 & 5 Will. 4, c. 40, s. 2, stating for what purposes a society might
be established, 'other purpose which is not illegal,' to other pur-
poses ejusdem generis as those before enumerated in that section,
to state more clearly for what purposes a society might be esta-
blished; and as it was feared that the rate of contributions re-
quired by the rules from the members was quite insufficient for
the benefits professed to be assured, and it being found that in
many instances societies had been compelled to reduce or suspend
altogether their allowances, and that those societies which had
hitherto kept their engagements had been enabled to do so only
by a continual introduction of young members, it was thought
advisable to require a society assuring any benefit depending on
the laws of sickness or mortality, to adopt a table certified by an
actuary of some life insurance company, as one which might be
safely adopted before it could come under the provisions of the
Act. This plan was considered better than having model tables
constructed, and enforcing an adherence to them; as the circum-
stances of human life, differing according to locality, occupation,
and treatment, are so various, and the tables prepared by
actuaries of high standing are by no means alike. It is, how-
INTRODUCTION.
xxix
ever, much to be regretted, that no use was and has hitherto
been made of the returns of sickness and mortality furnished by
those societies to the Registrar of Friendly Societies. Most of
these societies are composed of persons engaged in some particu-
lar trade or calling; and a careful analysis of these returns might
afford data for estimating the comparative healthiness of different
trades, a matter not much at present understood, and would fur-
nish the most precise information concerning the casualties to
which the working classes of England are liable.
"The passing of this Act showed the great interest the country
at large took in the welfare of Friendly Societies, and their
anxiety to place them on a proper basis; and also that the feel-
ing of the Legislature towards them was the same as it was in
1819, when the 59 Geo. 3, c. 128, was passed, which recited as a
reason for the interference of the Legislature, that the habitual
reliance of poor persons upon parochial relief, rather than upon
their own industry, tended to the moral deterioration of the
people and to the accumulation of heavy burthens upon parishes;
and it was desirable, with a view as well to the reduction of the
assessments made for the relief of the poor, as to the improve-
ment of the habits of the people, that encouragement should be
afforded to persons desirous of making provision for themselves
or their families out of the fruits of their own industry, and to
afford facilities and security to persons willing to unite in appro-
priating small sums from time to time to the formation of a com-
mon fund, for the purposes aforesaid, and to protect such persons.
against the effect of fraud and miscalculation.'
Many new and important features are introduced in this
Act, which, however, is limited in its duration to two years, as
it was felt to be in some sense an experiment. It in the first
place does away entirely, except in one instance, with the system
of nomineeship, even in respect to societies already established,
except as to assurances already made by them, and introduces a
new purpose for which a society may be established; namely, to
enable any member, or the husband, wife, or children, or nominee
of a member, to emigrate; but limits the amount to be assured to
any member to a sum not exceeding £100 on death, an annuity
of £30 per annum, and an allowance of 20s. per week in sick-
XXX
INTRODUCTION.
ness; and in case of the death of a child under ten years of age,
to the actual funeral expenses not exceeding £3, to be paid to
the undertaker; and the certificate of a surgeon or coroner is
made necessary in all cases before the payment, by the trustees
of any society established under this Act, or any Act relating to
Friendly Societies, of any money on death.
"It allows of the establishment of branch societies, and treats
them for certain purposes as distinct societies; this is done for
the purpose of enabling the Odd Fellows and other societies of
that description to come under the provisions and privileges of
the Act, and to obtain some protection for their funds. A dis-
tinction is also made between societies which adopt tables calcu-
lated by an actuary, and those which do not consider it necessary
to do so, the former being called certified, and the latter registered
Friendly Societies, and to the former some additional privileges
are given which are denied to the others; such as the power of
investing their funds with the National Debt Commissioners,
and receiving interest at the rate of £3. Os. 10d. per cent. per
annum; and allowing sums not exceeding £50 to be paid to the
next of kin of a member dying intestate, without the production
of letters of administration. But it is expressly provided by sec-
tion 8, that all societies, whether registered or certified, assuring
certain annuities, must adopt tables of contributions certified by
an Actuary or furnished by the Registrar. The amount of the
fee payable to the Registrar is now altered; and by section 9, he
is entitled to receive one guinea for every certificate of rules of a
society; but for every certificate of rules of any branch or of
alterations of rules of any society or branch, the sum of 2s. 6d.
only. It is now made compulsory on the Treasurer, before he can
take upon himself the execution of his office, to give a bond with
two sureties in the form set forth in the schedule (E) to the Act.
By the 12th section, other investments than those provided for
by the former Acts, are authorized to be made of the surplus
funds; namely, in Bank of England stock, or in the stock or
securities of the East-India Company; or on mortgage of lease-
hold property, being for a term of years absolute, of which not
less than thirty years shall be unexpired; or copyhold property
of inheritance in Great Britain or Ireland; or on the security of
INTRODUCTION.
xxxi
any county or borough rates authorized to be levied and mort-
gaged by any Act of Parliament; or on loans to any member of
the society, on the security of any policy of assurance effected on
his own life, provided that the amount of such loan shall not
exceed the actual estimated value of such policy at the time such
loan is made. And the trustees are also enabled, with the con-
sent of the society, to purchase, hire, or take upon lease, any
room or premises for the purpose of holding the meetings therein
or transacting the business of the society, which it is to be hoped
will entirely do away with the practice of holding meetings at
public houses, so exceedingly prejudicial to the well-being, not
only of the society, but also of its members, and to all economy
in conducting its affairs.
"Section 13 declares, that no person shall be deemed a Trustee
until the resolution of the society appointing him under the hand
of three members, and signed by such trustee, and countersigned
by the clerk, shall have been transmitted to the Registrar. By
the 15th section, an annual return or balance-sheet is required
to be sent by the trustees to the Registrar, and in default of their
so doing, they are declared incapable of bringing any action at
law or equity on behalf of the society. This is a most important
clause, and the due observance of its requisitions will do much.
towards placing Friendly Societies on a good and firm basis.
These returns will form a true corrective of erroneous principles
and unsound calculations, and attention will be drawn each year,
by the returns being made public, to the result of the society's
tables and calculations, and an opportunity afforded of correcting
any errors which may have been committed; and it is to be
hoped that by these means some uniformity among the various
societies will at last be obtained. By the 22nd section, disputes
are to be settled in the manner directed by the rules, except in
cases where at present recourse must be had to a court of equity,
and then it may be referred, at the option of either party, to the
County Court; and by the 28th section, the Registrar may pro-
ceed summarily against any person having any of the mónies,
effects, or funds, securities, books, or property of a society in his
possession, and who refuses to pay or deliver over the same, or to
render a proper account: this formerly could only have been
xxxii
INTRODUCTION.
done by a court of equity. By the 34th section, provision is
made for the incorporation of any two or more societies into one
society. The 37th section provides, that no person being a mem-
ber of more than one society shall be entitled to benefits exceed-
ing on the whole the sum of £100, or an annuity of £30 per
annum, or a sum in sickness of 20s. per week. Notwithstand-
ing the provisions of the 43rd section declaring that no Friendly
Society already established shall invest with the National Debt
Commissioners, except on account of assurances already made, it
has been considered that the effect of the 46th section, providing
that any society duly enrolled under any Act repealed by this
Act, and not assuring above a certain amount, shall enjoy all
the privileges of the Act, will be to allow such societies to in-
vest with the commissioners at the reduced rate of interest
(£3. Os. 10d.), and that the former clause must be held merely
to take away their privilege of investing any future sums not
received on account of the before-mentioned assurances, at the
rate of interest payable before the passing of the Act.
"A clause (the 48th), very important to all benevolent and
charitable institutions, and taken from the 35 Geo. 3, c. 111, is
introduced into this Act, by which institutions formed by volun-
tary subscriptions and benefactions for relieving the physical
wants and necessities of persons in distressed circumstances, are,
by having their rules duly registered, entitled to the benefit of
all the clauses and provisions of the Act, so far as they relate to
the giving of security by the treasurer, and to the vesting of the
funds in the trustees for the time being, and to their suing and
being sued, and as to the liability of the treasurer or trustees,
and to the protecting the funds and enforcing the rendering of
accounts; this will in many cases save such institutions the
expense of obtaining a charter or deed of incorporation."
""
A GUIDE TO THE FORMATION
OF
FRIENDLY SOCIETIES,
&c.
CHAPTER I.
INSTITUTION AND PROGRESS OF FRIENDLY SOCIETIES.
THE Laws relating to Friendly Societies, or Benefit Societies,
which are the immediate subject of our Work, have undergone, like
the forms and objects of the institutions themselves, many and great
changes since their introduction into the United Kingdom.
With the progress of civilization, the spread of education, and
the consequent amelioration of the intellectual and social condition
of the industrial classes, Benefit Societies, or Clubs, which, in
respect of their constitution and objects, were originally of the most
crude and restricted character-the latter chiefly embracing the
means of providing to their members clothing, particular kinds of
food, fuel, pecuniary allowances in sickness, and the expenses of
funerals—are fast obtaining a more important position in the country.
These institutions, indeed, offer, at the present time, but within a
limited amount, all the advantages of Fire, Life, and Guarantee
Assurance, which are now,—but in a greater degree as to the extent
of assurances granted to one person, or under one policy-to be
effected with the leading Assurance Companies established in London,
Edinburgh, Dublin, and the other great cities and towns of the
empire.
Friendly or Benefit Societies were originated in the year 1793,
for which we are mainly indebted to the Right Honourable George
Rose, who drew the attention of Government directly to them, and
through whose instrumentality the first Act to be found on the
B
2
INSTITUTION AND PROGRESS OF
Statute Book for the encouragement of Friendly Societies,-the
33 Geo. 3, c. 54,-became a law.
By the computations of this gentleman, made between the years
1793 and 1805, no less than 704,000 persons were associated in
them; and as in their earlier constitution, thousands of individuals
contributed for many years to their funds without receiving any cer-
tain return from them, and in numerous instances none whatever, the
idea of allowing to depositors in Savings' Banks a fixed rate of accu-
mulated interest on their capital was the means of introducing Savings'
Banks. The earliest of these institutions was instituted at Tottenham;
and a somewhat similar establishment, for the savings of female
servants, at Bath, in the year 1808, where no depositor was allowed
to place more than £50, and the entire accumulated funds not to
exceed £2,000. But to the Rev. H. Duncan, of Ruthwell, in
Scotland, is to be attributed the merit of founding Savings' Banks in
their present complete form, which he did in the parochial Bank of
Ruthwell; upon the model of which the existing Government recog-
nized their adoption, and passed an Act of Parliament for their
constitution.
Benefit Clubs, for the supplying of coals, clothes, &c., were intro-
duced subsequently to Savings' Banks.
Some idea of the number and extent of Friendly Societies now
operating in England and Wales may be gathered from the following
table:
*

Amount of
Number
Number
Locality.
of
Societies
Certified.
of
Returns
received.
Number
of
Returns
Number
of
Members
Money
received
Amount of
Money paid
from Mem-
to, or on
on
bers during
not
received.
8th July,
1847.
8th July,
account of
Members
year ending during same
period.
1847.
£
£
England.. 9,497
Wales....
936
3,934
357
5,557
740,581
662,082
491,462
522 41,141
31,669
27,516
Total.... 10,433 4,291
6,079
781,722 | 693,751 518,978
"This table, it will be seen, only furnishes statistical information
as to certified societies from the year 1828 to 1847, and there-
* The Law Relating to Friendly Societies, by W. Tidd Pratt, Esq., of the
Inner Temple, Barrister-at-Law. London: Longman and Co. 1850.
FRIENDLY SOCIETIES.
3
fore does not actually represent the real number of Friendly Socie-
ties, and their state and condition as at present existing; and it
must also be remembered that there are many unenrolled societies in
existence, having, it is believed, a very large number of members
and amount of income, of which no precise and definite information
can be obtained.”
Benefit Building Societies, also, established with a view of en-
abling their members to purchase or erect dwelling-houses, or other
freehold or leasehold property, which came into active operation in
England about the year 1830, as to which the Act 6 & 7 Will. 4,
c. 32, was passed; to which societies also certain provisions of the
Acts relating to Friendly Societies are expressly declared to apply,
may now be reckoned amongst the most useful institutions, especially
beneficial in their operations to the middle and industrious classes,
and comprise a very large number of members. To these may be
added Freehold Land Societies, which are governed by the same
statute. These societies are formed for the purpose of assisting their
members to obtain parcels of freehold land, of a value sufficient to
constitute a vote for members of Parliament, under the forty-shilling
franchise in counties.
Referring only to Benefit Building Societies (and without refer-
ence to Freehold Land Societies, the members of which are exceed-
ingly numerous, and, from the smaller amount of their shares, they
may be said to surpass in numbers the members of the former insti-
tutions), we find "That about one thousand five hundred societies
have been already certified by the government officer in England
alone; not less than one-third of that number have been established
during the last two years. Assuming, however, that only one
thousand are in active operation, with an average of four hundred
shares in each, yielding a monthly subscription of ten shillings per
share, we shall have an aggregate of 400,000 shares, divided pro-
bably between 250,000 persons, and producing a yearly income of
£2,400,000, exclusive of interest.”*
Taking into consideration the interval which has elapsed since the
date of the above returns, our estimate of the number and extent of
Friendly Societies, Benefit Building Societies, and Freehold Land
Societies, and the amount of capital invested in them by our labouring
and artisan population, is greatly under the mark. It also must be
* A Guide to Benefit Building Societies, by J. H. James, Consulting Actuary.
London: Simpkin, Marshall, and Co. 1849.
B 2
4
INSTITUTION AND PROGRESS OF
borne in mind, that, arising out of the great impetus which has been
recently given to institutions of all kinds having any relation to the
moral and social condition of the industrial community, there are
numerous other societies, such as Mechanics' and Literary Institutes
and Emigration Societies, which, in the strict meaning of the term,
are Friendly Societies, although not enrolled under the Acts relating
to them, which embrace almost countless thousands of persons, an
instance of which we may mention in the case of the "Manchester
Unity of Odd Fellows," which alone numbers about half a million
of members.
Adverting to the laws affecting Friendly Societies, it will be
desirable for us to enumerate the most important of the Acts of Par-
liament which have from time to time been passed for their govern-
ment; but as to all of which, except the Act 13 & 14 Vict. c. 115,
it will be unnecessary for us to remark, for the reasons hereafter
assigned.
In our enumeration of the Friendly Societies' Acts, we commence
with,
First-
The Act 10 Geo. 4, c. 56, "An Act to Consolidate and Amend
the Laws relating to Friendly Societies," passed 19th June, 1829,
by which the Acts 33 Geo. 3, c. 54; 35 Geo. 3, c. 111; 36 Geo. 3
(1); 43 Geo. 3, c. 111; 49 Geo. 3, c. 58; 49 Geo. 3, c. 125;
59 Geo. 3, c. 128; and 6 Geo. 4, c. 74, were more or less repealed
and consolidated, so far as related to Friendly Societies, as to render
it a fitting starting-point of legislation to be here mentioned in re-
ference to these institutions.
Second-
The 2 Will. 4, c. 37, “An Act to Amend an Act of the Tenth
year of His late Majesty King George the Fourth, by extending the
time within which pre-existing Societies must conform to the Pro-
visions of that Act," passed 23rd May, 1832.
Third-
The 4 & 5 Will. 4, c. 40, “ An Act to Amend an Act of the Tenth
year of His late Majesty King George the Fourth, to Consolidate and
Amend the Laws relating to Friendly Societies," passed 30th July,
1834.
Fourth-
The 3 & 4 Vict. c. 73, “An Act to Explain and Amend the
Acts relating to Friendly Societies," passed 7th August, 1840.
FRIENDLY SOCIETIES.
5
Fifth-
The 9 & 10 Vict. c. 27, “An Act to Amend the Laws relating to
Friendly Societies," passed 3rd July, 1846; and
Sixth-
The 13 & 14 Vict. c. 115, “An Act to Amend the Laws relating
to Friendly Societies," passed 15th August, 1850, which statute is
the especial subject of remark throughout our work.
With a view of placing at once before our readers the precise
purpose, generally, which is sought to be obtained by this Statute
and its effect upon the five Acts just mentioned, we quote its
preamble and first section:
"Whereas many societies have been established in Great Britain
and Ireland for the purpose of affording relief and maintenance to
the members thereof in sickness, old age, or infirmity, and for other
purposes of a provident and benevolent nature; and it is expedient
to amend the laws relating to such Friendly Societies, and to make
further provision for protection of the members against fraud and
misapplication of their funds, and to consolidate the same in one Act:
(
"Be it therefore enacted, by the Queen's most Excellent Majesty,
by and with the advice and consent of the Lords spiritual and tem-
poral, and Commons, in this present Parliament assembled, and by
the authority of the same, that an Act passed in the tenth year of
His late Majesty King George the Fourth, intituled An Act to
Consolidate and Amend the Laws relating to Friendly Societies;'
and also an Act passed in the second year of His late Majesty King
William the Fourth, intituled 'An Act to amend an Act of the
Tenth year of His late Majesty King George the Fourth, by extend-
ing the Time within which pre-existing Societies must conform to
the Provisions of that Act;' and also an Act passed in the fourth
and fifth years of His late Majesty King William the Fourth, inti-
tuled An Act to amend an Act of the Tenth year of His late
Majesty King George the Fourth, to Consolidate and Amend the
Laws relating to Friendly Societies;' and also an Act passed in
the session of Parliament, held in the third and fourth years of Her
present Majesty, intituled 'An Act to Explain and Amend the Acts
relating to Friendly Societies;' and also an Act passed in the session
of Parliament, held in the ninth and tenth years of Her present
Majesty, intituled 'An Act to Amend the Laws relating to Friendly
Societies,' shall be, and the same are hereby repealed, except so far
as any of the said Acts repeal the whole or any part of any other
C
6
INSTITUTION AND PROGRESS OF FRIENDLY SOCIETIES.
Acts, and except so far as the same may be applicable to any Benefit
Building Society established under an Act passed in the session of
Parliament held in the sixth and seventh years of the reign of His
late Majesty King William the Fourth
"Provided, nevertheless, that such repeal shall not invalidate
or affect anything which has been done before the passing of this
Act in pursuance of any of the said Acts:
"Provided, also, that the provisions of the said Acts, except as
hereinafter provided, shall continue in force, as to all societies
established under any or either of them before the passing of this
Act."
The growing importance, in the eye of the Legislature, of insti-
tutions tending to the amelioration of the condition of the industrial
classes, may be gathered from the fact, that the six statutes above
referred to have been passed during twenty-one years; of which,
three have been within the last ten years.
Amongst the members of the House of Commons who have
greatly promoted the extension of Friendly and other Provident
Societies, and indeed the general welfare of the industrial classes,
we must not omit to mention the names of Mr. Slaney, member for
Shrewsbury, and Mr. Sotheron, member for North Wiltshire, gen-
tlemen who have long and ably espoused the popular cause. With
them must be associated Mr. Adderley and Mr. Bonham Carter, by
whom the Act now in force, the 13 & 14 Vict. c. 115, was prepared
and brought into the House of Commons.
7
CHAPTER II.
THE FRIENDLY SOCIETIES' ACT.
NOTWITHSTANDING the various statutes which have from time to
time been passed by the Legislature for the legal constitution and
government of Friendly Societies, in no Acts prior to the 9 & 10
Vict. c. 27, and the 13 & 14 Vict. c. 115 (which respectively
obtained the sanction of Parliament in the years 1846 and 1850),
was the subject of their internal economy, involving practical and
technical points of the greatest importance to the stability of the
institutions themselves, and to the interests of their members, pro-
perly, if at all, touched upon.
It is true, indeed, that the necessary steps were taken to bring
these institutions (when duly enrolled) so far within the pale of the
law, as to institute some kind of control over the conduct of their
officers, by prescribing the particular kinds of securities in which their
funds, not immediately required for the wants of the members,
should be invested, and by providing against the possibility of associa-
tions, which might be constituted for political purposes, or for proceed-
ings hostile to the existing Government, obtaining the conditional
advantages which the subsisting statutes intended only for institu-
tions of a purely provident character. No attempt, however, was
made at a period, or in statutes, antecedent to those we have just
mentioned, to direct the attention of the founders and officers of
Friendly Societies, either to the necessity, or to prescribe the mode,
of obtaining accurate information as to the tables and calculations
upon which their operations, and the various contingencies involved
in them, should be conducted. Hence, we find that very few
indeed of the thousands of Friendly Societies, and Benefit Clubs,
established throughout the United Kingdom, in which the pecuniary
savings of millions of persons are invested, are based upon sound
working principles, or are in a solvent condition.
In these and other respects, therefore, the Act 13 & 14 Vict.
c. 115, under which, at present, all Friendly Societies must be con-
8
REGISTRATION OF FRIENDLY SOCIETIES.
stituted, will be seen to excel, in the beneficial character of its pro-
visions, all the statutes relating to Friendly Societies which have at
any time preceded it.
The chief characteristics of this Act are-
1st. The placing Friendly Societies under the direct control of an
officer appointed by Government, styled the "Registrar of Friendly
Societies," whose duty it is, before he is allowed to give his Certi-
ficate, to see that, in their rules and regulations, all the provisions
of the Act have been complied with.
2nd. The permission to establish branch societies, which, for
certain purposes, are treated as distinct societies.
3rd. The declaration that no society or branch is deemed to be
legally established before its rules are certified by the Registrar.
4th. The creation of two kinds of Friendly Societies, between
which a marked distinction is made in the character of their operations,
and in the extent of the privileges conferred upon them, namely,—
Registered Friendly Societies, which are allowed to embrace only
a portion of the objects or purposes which are by the Act permitted
to be carried out by societies established under it.
Certified Friendly Societies, which are allowed to embrace all the
objects contemplated by the Act, including the granting of certain
annuities, deferred or immediate, to any of its members; and to
invest its funds with the Commissioners for the Reduction of the
National Debt; which is denied to merely Registered Societies.
5th. The certification of the rules and tables by the Actuary to
the Commissioners for the Reduction of the National Debt, or some
other actuary who shall have been for more than five years an actuary
of some Life Assurance Company established in London, Edinburgh,
or Dublin, in the form prescribed by the Act, in the case of
Friendly Societies which shall, with or without any other objects,
propose to grant, or grant, any certain annuity, immediate or
deferred.*
* An evident contradiction as to the certification of the rules and tables of
certified societies occurs in the Act; for-
First: in section 7, it is declared, "that if such rules and tables have been
certified by an actuary, &c., as prescribed, or shall have been furnished to such
society or branch by the Registrar, the Registrar shall give a certificate consti-
tuting the society a certified society."
Second: but it is thereinafter immediately declared, "that if such rules and
tables shall not have been so certified by an actuary, &c., in such case the
Registrar shall give a certificate constituting such society a registered society."
And third in section 8, it is declared, "that it shall not be lawful for the
Registrar to grant any certificate to any society assuring to any member thereof
THE FRIENDLY SOCIETIES' ACT.
9
6th. The extension of the objects which may be effected by
Friendly Societies, and the limitation of the amount of the benefits
or objects in all cases to particular sums, and providing that where
a person is a member of more than one society or branch, he shall
not be entitled to benefits exceeding the prescribed amounts.
7th. The prescribing of particular Returns to be made periodically
to the Registrar, and of a Penalty for default thereof.
8th. The keeping separate and distinct the accounts of the several
kinds of benefits assured.
9th. The power of the Registrar, upon petition from a society, to
proceed in a summary way against any treasurer, trustee, or other
officer or person, intrusted to receive any part of the monies, effects,
and funds, of or belonging to any such society or branch, or who
shall in any manner be engaged in the disposal, management, or
custody thereof, or of any securities, books, papers, or property
relating to the same, his or her executors, administrators, or assigns
respectively, who shall, on demand made, neglect or refuse to deliver
up and account for such property to the society.
10th. The power of the Registrar to order Stock to be transferred
and dividends to be paid in the absence of trustees.
11th. An extension of the particular kinds of securities, in which
the funds and property of Friendly Societies may be invested.
a certain annuity, deferred or immediate, unless the tables of contributions pay-
able for such kind of assurance shall have been certified by an actuary as aforesaid,
or furnished by the Registrar."
It will be thus seen that, in the first instance, the certificate of the Actuary, or
the furnishing of the rules and tables by the Registrar, will suffice for a certified
society. In the second instance, the certificate of the Actuary is rendered abso-
lutely necessary; and, without it, the certificate of a registered society only can
be granted; and in the third, the alternative either of a certificate of an actuary,
or a furnishing of rules and tables by the Registrar, is restored.
It is to be regretted, inasmuch as the assistance of an actuary was deemed
essential, that in the person of the Registrar any functions extra those of his
office, in its legal character, should have been permitted to him, so as but par-
tially to require the immediate or ostensible interference of an actuary. It may
be perhaps urged, that the Registrar could not, consistently with the evident
intentions of the Legislature, adopt any rules or tables in the case of a certified
society, which had not previously been sanctioned by an actuary; but this is not
a good plea, for the manifest confounding of the duties of two officers so totally
distinct as those of the Registrar and Actuary,the former to judge of the legal,
and the latter of the technical effect of the rules submitted to them.
The safer course appears in all cases to be, under the doubt which must naturally
arise from the discrepancy we have noticed, that where the Registrar furnishes
the tables and rules, they should be previously certified by an actuary in the
manner prescribed; or that the promoters of societies should have the rules and
tables prepared under their own direction, taking care to obtain, before they are
submitted to the Registrar, the necessary certificate from an actuary authorized
by the Act.
10
REGISTRATION OF FRIENDLY SOCIETIES.
12th. The prescribing that no sum shall be paid by the trustees
or other officers of Friendly Societies established under this or any
other Act relating thereto, on the death of a child under ten years
of age, except for funeral expenses, exceeding the sum of three
pounds, and then only in the manner prescribed, under a penalty.
13th. The exemption from stamp duty of the legal instruments
of Societies, established under this Act, or any previous Acts relating
to Friendly Societies, where such societies do not grant assurances
beyond the limits allowed by this Act.
14th. That the rules of Societies, established under this Act, must
contain all the provisions which are deemed by the Act, and pre-
scribed as necessary to be contained therein.
15th. The extension of the provisions of this Act so as to be
applicable to Benevolent and Charitable Societies, if the Rules thereof
are registered in pursuance of this Act.
16th. This Act repeals all previous Acts relating to Friendly
Societies, except so far as any of the said Acts repeal the whole or
any part of any other Acts, and except so far as the same may be
applicable to any Benefit Building Society duly enrolled.
Provided nevertheless, that such repeal shall not invalidate or
affect anything which has been done before the passing of this Act,
in pursuance of any of the said Acts.
Provided also, that the provisions of the several Acts, except as
in this Act named, shall continue in force as to all Societies pre-
viously established under any or either of them.
Every Friendly Society, or other institution formed for the pur-
pose of carrying out the objects defined by the Act to be the
objects of a Friendly Society, it must be here observed, established
after the passing of the Act, must, if its members desire to ensure
the privileges and protection of the law, be registered under the
Act. But the Act contains no provision by which it is declared
unlawful to form a Friendly Society, unless it be so registered. It is
evident, therefore, that the intention which we believe was chiefly
aimed at by the framers of the Act,-namely, the establishment of
Friendly Societies upon a legal and recognized basis,-may be alto-
gether frustrated by a continuance to form such societies without
due registration under the Act, a precaution which was very properly
taken by the Registration Act, in respect to joint-stock companies.
It is also very doubtful whether or not Friendly Societies unen-
rolled previous to this Act, of which there are thousands in the
THE FRIENDLY SOCIETIES' ACT.
11
United Kingdom, can be registered under it, for want of a provision
such as was suggested by the Author, during its preparation, by
which societies making the requisite alterations in their rules, as
to assurances with new or future members, and as to all fresh
assurances with existing members, should be deemed eligible to come
within its operations as to future transactions. There is every
facility given to enable societies, previously enrolled, to be re-
gistered under this Act; but as to unenrolled societies, and their
past transactions, it appears altogether impossible to effect so de-
sirable a purpose, and we consider it a most unfortunate circumstance
that this important point should have been overlooked. It has
indeed precluded a vast number of unenrolled societies from not
only participating in the provisions of the Act, which relate to the
proper data upon which all their operations in assurance should be
founded, but has also withheld from them the control and protection
which the Act most beneficially exercises over, and affords to officers
and members of societies established under it.
In reference to societies established under repealed Acts, the 46th
section of the Act, which recites, "that every such society which
shall not, after the passing of this Act, assure benefits, annuities, or
allowances in sickness beyond the limits of this Act, shall enjoy all
the exemptions and privileges in this Act conferred upon any
society established under the provisions of this Act," may, perhaps, be
liberally interpreted and construed, so as to remove the difficulty of
their absolute registration (for all its purposes) under the Act.
But as to existing societies wholly unenrolled, the Act is altoge-
ther silent; and therefore no such favourable construction can, we
think, be safely put, without a high judicial decision, upon the powers
by which they may be brought within the provisions of this Act.
In treating of the several provisions of the Act, and their practical
application to the formation of Friendly Societies, we propose,-
1st. To bring together all the powers, privileges, and liabilities of
Friendly Societies constituted under the Act, and to specify the
objects which they are empowered to carry out.
2nd. To enumerate, and remark upon the several particulars
and restrictions which, by the Act, are rendered necessary to be pro-
vided for in the Rules of every Friendly Society before its legal con-
stitution can be certified by the Registrar; and
3rd. To supply the Precedent of a Code of Rules for a Friendly
Society, in conformity with the Act.
12
CHAPTER III.
THE POWERS, PRIVILEGES, AND LIABILITIES OF FRIENDLY SOCIETIES,
UNDER THE ACT 13 & 14 VICT. C. 115.
1. Title and General Purposes of the Act.
THE statute now in force, by which Friendly Societies may be
constituted, and when so constituted, are governed, is entitled "An
Act to Consolidate and Amend the Laws relating to Friendly
Societies."
The general purposes of the Act may be best gathered from the
preamble, which recites," Whereas many societies have been
established in Great Britain, for the purpose of affording relief and
maintenance to the members thereof in sickness, old age, or in-
firmity, and for other purposes of a provident and benevolent nature;
and it is expedient to amend the laws relating to such Friendly
Societies, and to make further provision for protection of the mem-
bers against fraud and misapplication of their funds, and to consoli-
date the same in one Act."
The several Acts, which, so far as they relate to Friendly Societies
established after the passing of this Act, are repealed by it, having
been mentioned in the preceding chapter, there is no occasion to
repeat them here.
2. Time of the Act coming into Operation, and the Limitation
of the Time within which it will be in Force.
The Act, the 13 and 14 Vict. c. 115, was passed on the 15th day
of August, 1850, from which date it came into operation (§ 51).
The Act will be in force for one year from the passing thereof,
and from thence to the end of the next session of Parliament (§ 51).
The late period of the session at which the Act was passed, and
the important alterations which it proposed to make in the law
of Friendly Societies, were the reasons assigned by the Legislature
for limiting the time within which it should continue in force, so as
to test, and, if necessary, to put an end to its operations.
If the general principles and policy of the Act be approved, of
POWERS, PRIVILEGES, AND LIABILITIES.
13
which there can be little doubt, it will be necessary, at the close of
the session of Parliament of 1852, to renew the Act, or to pass
another Act in lieu thereof; otherwise, the several statutes relating
to Friendly Societies now repealed by the Act will again come into
force.
The Act is deemed a public Act, and extends to Great Britain
and Ireland, and Berwick-upon-Tweed, and the Isles of Guernsey,
Jersey, and Man (§ 50).
3. Machinery of the Act.
The Act is placed under the superintendence of three officers, who
are respectively styled "The Registrar of Friendly Societies in
England," "The Registrar of Friendly Societies in Scotland," and
"The Registrar of Friendly Societies in Ireland."
The registration and control of Friendly Societies formed in
Berwick-upon-Tweed, and the isles of Guernsey, Jersey, and Man,
come, we believe, within the duties of the "Registrar of Friendly
Societies in England" (§ 10).
The present Registrar of Friendly Societies in England is John
Tidd Pratt, Esq., who has long and ably performed the functions
of "The Barrister appointed to Certify the Rules of Savings' Banks
and Benefit Building Societies in England." His chambers are
at 19, Old Jewry, London.
The present "Registrar of Friendly Societies in Scotland" is
Thomas Cleghorn, Esquire, Advocate, whose chambers are in
Edinburgh.
The present "Registrar of Friendly Societies in Ireland" is
Henry Connor, Esquire, Barrister-at-Law, whose chambers are at
2, Lower Pembroke-street, Dublin.
The future Registrars of Friendly Societies in England, Scotland,
and Ireland respectively, are to be appointed by the Commissioners
for the Reduction of the National Debt, and are to hold office
during the pleasure of the said commissioners.
Her Majesty is empowered to grant to the Registrar in England,
already appointed, a salary not exceeding one thousand pounds by
the year; and to every Registrar in England, hereafter to be ap-
pointed, a salary not exceeding eight hundred pounds by the year;
and to every Registrar in Ireland and Scotland respectively,
already or to be hereafter appointed, such a salary as to the Com-
missioners of Her Majesty's Treasury shall seem meet; and every
14
REGISTRATION OF FRIENDLY SOCIETIES.
such salary shall be paid by four equal quarterly payments; and any
Registrar who shall be appointed, or shall die, resign, or be removed
from his office, in the interval between two quarterly days of
payment, shall be entitled to a part of his salary proportional to the
part of such quarter of a year during which he shall hold his ap-
pointment (§ 10).
4. Objects for which Friendly Societies may be established.
It shall be lawful for any number of persons to establish a
society, or branch of the same, under the provisions of this Act, for
the purpose of raising by voluntary subscriptions of the members
thereof, with or without the aid of donations, a fund for any of the
following objects; that is to say:-
1. For insuring a sum of money to be paid, on the death of a
member, to the widower or widow of a member, as the case may be,
or to the child, or to the executors, administrators, or assigns, of
such member, or for defraying the expense of the burial of a
member, or of the husband, wife, child, or kindred of a member ; sub-
ject always to the restrictions hereinafter enacted in that behalf.
2. For the relief, maintenance, or endowment of the members,
their husbands, wives, children, or kindred, in infancy, old age,
sickness, widowhood, or any other natural state of which the pro-
bability may be calculated by way of average.
3. For the insuring or making good any loss or damage of live or
dead stock, goods, or stock in trade, implements, and tools, sus-
tained by any member by fire, flood, shipwreck, or any contingency
of which the probability may be calculated by way of average.
4. For the frugal investment of the savings of the members for
better enabling them to purchase food, firing, clothes, or other
necessaries, or the tools, implements, or materials of their trade or
calling, or to provide for the education of their children or kindred :
provided, that the shares in any such investment society shall not
be transferable, and that the investment of each member shall
accumulate or be employed for the sole benefit of the member in-
vesting, or of the husband, wife, children, or kindred of such
member, and that no part thereof shall be appropriated to the
relief, maintenance, or endowment of any other person whomsoever;
and that the whole amount of the balance due, according to the
rules of such society, to such member, shall be paid to him or her on
withdrawing from such society.
POWERS, PRIVILEGES, AND LIABILITIES.
15
5. For the purpose of enabling any member, or the husband,
wife, or children, or nominee of such member, to emigrate; pro-
vided that, in case of any society for that purpose, one of the
trustees shall be a justice of the peace residing in and acting for the
county, borough, or place in which such society shall be established.
6. For any purpose which shall be certified to be legal in
England or Ireland by her Majesty's Attorney-General, or in
Scotland by the Lord Advocate, as a purpose to which the
and facilities of this Act ought to be extended (§ 2).
(6
powers
In addition, therefore, to the objects enumerated in the first five
clauses of particulars above set forth (but within the limit hereafter
specially assigned to them), "Societies may be formed under this
Act for any other purpose," which, as mentioned in the sixth
clause, shall be certified to be legal by the functionaries therein
named, as a purpose to which the powers and facilities of this Act
ought to be extended." By this it may be inferred, that any purpose
of prudence and protection in social economy, of utility or improve-
ment in art, science, and literature, or in trade or manufactures,
and by which the members may be collectively benefited, is a
purpose fitting, and to effect which, a society may be formed under
this Act, but not without the sanction of the prescribed authorities.
5. Limitation of Benefits.
The Act expressly declares, that it shall not be lawful for any
society, or branch established under it, to assure the payment to
or on the death of any member, or on any contingency, or for any
of the purposes for which the payment of sums may be assured
under it, of any sum exceeding one hundred pounds, nor any
annuity exceeding thirty pounds per annum, nor a sum in sickness
exceeding twenty shillings per week.
Any society, therefore, which assures, or purposes to assure, in
consideration of a payment to be made by a member in respect of
any sum or benefit to be thereafter returned to such member, any
sum, upon any contingency whatever, exceeding the amounts re-
spectively in the particular class of contingencies or benefits above
specified, can on no account be established under, or be entitled to
the privileges and protection of this Act.
In addition to this general limitation of the sums or benefits
authorized to be granted by societies established under the Act,
there are other important restrictions affecting these and previously
16
REGISTRATION OF FRIENDLY SOCIETIES.
enrolled societies. First. As to the age of children, and the
amount of the sum, in respect of which assurances may be granted.
Second. As to the mode of payment of any sum of money which
may become payable on the death of any member thereof, or of
the husband, wife, or child, of any member. These are-
1. That in all societies established under the provisions of this
Act, or of any Act relating to Friendly Societies, it shall not be
lawful for the trustees or other officers of such societies, to assure
a sum of money to be paid on the death of a child, whether a mem-
ber of such society or not, under the age of ten years, except the
actual funeral expenses, and then not exceeding three pounds in
case of such child.
2. Then, and in such case, the said funeral expenses of such
child must be paid only to the undertaker, or person by whom the
burial is conducted.
3. The receipt alone of the undertaker, or person by whom the
burial of such child is conducted, must be taken, which shall be
sufficient to discharge the society.
4. If any trustees or other officer of such society shall pay any
sum of money which may have been insured and become payable on
the death of any member thereof, or the husband, wife, or child of
any member, unless the party applying for the same shall produce
and deliver to the officer a Certificate, signed by a physician, sur-
geon, apothecary, or coroner, in the form (D) set forth in the schedule
to the Act annexed, except in cases where from the nature of the
circumstances it is impossible to procure such certificate, such officer
is declared liable to a penalty (§ 3).
6. To what Societies, other than those Established under it, this
Act may be entirely or partially Extended.
(1.) As to Entire Extension.
Every society, duly enrolled or certified under any Act repealed
by this Act, which shall not, after the passing of this Act, assure the
payment to or on the death of any member, or on any contingency,
or for any purpose for which the payment of sums may be assured
under this Act, exceeding one hundred pounds, or an annuity ex-
ceeding thirty pounds per annum, or any sum in sickness exceeding
twenty shillings per week, shall enjoy all the exemptions and
privileges in this Act conferred upon any society established under
the provisions of this Act (§ 46).
POWERS, PRIVILEGES, AND LIABILITIES.
17
(2.) As to Partial Extension.
If the Rules of any Benevolent or Charitable Institution or
Society, formed by voluntary subscriptions and benefactions, for the
purpose of relieving the physical wants and necessities of persons in
distressed circumstances, and all amendments and alterations thereof,
shall be registered under the provisions of this Act, then in that
case the clauses and provisions herein contained, so far as the same
relate to the giving of security for any treasurer or other officer or
person, and to the vesting of the effects in the treasurer for the
time being, and to their suing and being sued, and as to the liability
of the treasurer or trustee, or other officer, and to the protecting,
securing, or receiving the funds vested or being in such treasurer,
or trustee, and for enforcing the rendering of accounts by him or
them, shall be extended to all and every such institution or society,
which shall have, and enjoy, and be entitled to the benefits of this
Act, with respect to the several matters as aforesaid, as fully and
effectually as any friendly society, or branch, registered under this
Act, can or may have or enjoy the same (§ 48).
7. Duties of the Registrar.
The duties which the Act (13 & 14 Vict. c. 115) imposes
upon the Registrar of Friendly Societies are both important and
varied, and clothe that officer with a judicial and ministerial cha-
racter. The duties are ministerial in his capacity of Receiver or
Registrar of the Returns and documents required to be lodged with
and made to him by Friendly Societies, established under the Act;
and by the control which he has, under certain circumstances, over
their officers and property;-and judicial, by the authority which
he possesses of determining the nature and extent of the rules and
regulations by which the societies and their officers must be
governed.
The powers and duties of the Registrar may be thus enumerated :-
1. To peruse the rules and tables of every society transmitted to
him; and so soon as he shall find that the said rules are framed in
conformity with law, and that no rule, or part thereof, is repugnant
to another, and that the same are reasonable and proper, to register
the same (§ 7).
2. And if such rules and tables have been certified, under the
hand of the Actuary to the Commissioners for the Reduction of the
National Debt, or by some other actuary who shall have been for
C
18
REGISTRATION OF FRIENDLY SOCIETIES.
more than five years an actuary of some Life Assurance Company
established in London, Edinburgh, or Dublin, in the form set forth in
Schedule C to the Act annexed, and signed by him at the foot both
of the tables and rules, or shall have been furnished to such society,
or branch, by the Registrar, to give a Certificate in the form set forth
in Schedule B to the Act annexed, and such society, or branch,
shall be denominated Certified Friendly Society (§ 7).
3. But if such rules and tables shall not have been so certified
by an actuary as above mentioned, in such case to give a Certificate
in the form set forth in Schedule A to the Act annexed, and such
society, or branch, shall be denominated Registered Friendly
Society (§ 7). It is expressly declared that it shall not be lawful
for the Registrar to grant any certificate to any society assuring to
any member thereof a certain annuity, deferred or immediate, unless
the tables of contributions payable for such kind of assurance shall
have been certified by an actuary as aforesaid, or be furnished by the
Registrar (§ 8).
4. To return one of the copies of such rules and tables to the
society, or branch.
5. To keep the other copy of such rules and tables in such man-
ner as shall, from time to time, be directed by one of Her Majesty's
principal Secretaries of State; and all rules, alterations, or amend-
ments thereof, when certified as aforesaid, shall be binding on the
several members, and all persons claiming by or under them (§ 7).
6. To receive from the trustees or other officers of every society,
or branch, established under the Act, once in every year, on some
day before the 1st of September, a general statement of the funds
and effects thereof, during the past twelve months, in the form and
manner prescribed by the Act (§ 15).
7. To give notice to the trustees of every such society, or branch,
if such statement shall not have been transmitted as aforesaid on
or before the 1st day of September (§ 16).
8. To receive from the trustees or other officers of every society,
established under the Act, in which any benefits are assured for
an allowance in sickness, an annuity, deferred or immediate, or a sum
to be paid on death, within three months after the expiration of the
month of December, 1855; and so again, within three months after
the expiration of every five years succeeding, a Return of the rate of
sickness or mortality experienced by the society, or branch, within
the preceding five years, in such form as shall be prepared for that
POWERS, PRIVILEGES, AND LIABILITIES.
19
purpose, and furnished to the trustees of every such society, or
branch, by the said Registrar, under the direction of one of Her
Majesty's principal Secretaries of State (§ 17).
9. To cause to be made an Abstract and Report of all such Annual
and Quinquennial Returns, and to lay the same before one of Her
Majesty's principal Secretaries of State, and before both Houses of
Parliament (§ 18).
10. To direct the accountant-general, secretary, or deputy-secre-
tary, or other proper officer for the time being, of the Governor and
Company of the Bank of England, to transfer in the books of the
said company, any part of the several stocks, annuities, and funds
transferable, and standing in the books thereof, in the name of any
person as trustee of any such society, or branch, who shall be out of
England, Ireland, or Scotland respectively, or have been removed
from his office of trustee, or shall be a bankrupt, insolvent, or lunatic;
or if it shall be unknown whether such trustee is living or dead, to
and into the name of the newly appointed trustee or trustees (§ 19).
11. And also to direct the said officers of the Bank of England
to pay over to such person or persons as aforesaid the dividends of
such stock, annuities, or funds (§ 19).
12. To direct that the other and others of such trustees do trans-
fer such stock, annuities, or funds, to or into the name of such per-
son so appointed trustee as aforesaid, jointly with the continuing
trustees (if any), and also to receive and pay the dividends of such
stock, annuities, or funds, as such society shall direct, whenever it
shall happen that one or more only, and not all or both, of such
trustees as aforesaid, shall be so absent, or have been removed, or be
a bankrupt, insolvent, or lunatic, or it be unknown whether
or more of such trustees be living or dead (§ 19).
་
any one
The Act indemnifies the Bank for all acts and things done by the
Registrar, pursuant to the before-recited powers; and no such acts
and things can be questioned or impeached in any Court of Law or
Equity to their prejudice or detriment (§ 20).
13. To proceed in a summary way on a petition presented to him,
by the members of every such society, or committee, or board of
management thereof, in the name of the treasurer or trustee, or other
officer thereof, and make such order therein as to such Registrar,
in his discretion, shall seem just, against every person who shall have
or receive any part of the monies or funds of or belonging to such
society, or branch, or shall in any manner be intrusted with the dis-
C 2
20
REGISTRATION OF FRIENDLY SOCIETIES.
posal, management, or custody thereof, or of any securities, books,
papers, or property relating to the same, his or her executors,
administrators, or assigns, who shall on demand made, and after
notice given in manner prescribed by the Act, neglect or refuse to
deliver an account of, or to pay over such monies, or to assign,
transfer, or deliver such securities and effects, books, papers, and
property, in his hands or custody, to the treasurer or trustee for the
time being, or to such other person as such committee or board of
management shall appoint (§ 28).
14. To inspect, in any proceedings had before himself, and to
require the production before him of all books or other documents
relating to the matter in dispute (§ 29).
15. To administer an oath to any witness appearing before him
(§ 29).
And every person who, upon such oath, shall wilfully and cor-
ruptly give any false evidence before the Registrar, shall be deemed
guilty of perjury (§ 29).
16. All orders made by the Registrar under the provisions of the
Act shall be final and binding on all parties, without appeal (§ 30).
17. All assignments, orders, transfers, or rules, made in pursuance
of such orders, shall be valid and effectual in law (§ 30).
18. If any person shall refuse or neglect to obey such order,
and shall be convicted thereof, he shall be deemed guilty of a misde-
meanor (§ 30).
.19. Every order of the Registrar, required or authorized by or
in pursuance of the Act, is exempt from, and not liable to be charged
with, any stamp duty (§ 39).
20. To determine in and by his Award or Order, by which of the
parties, and in what proportion, the expense of fees chargeable under
a reference to the Registrar shall be finally borne (§ 31).
21. The Registrar is entitled to receive the following fees for
certificates of rules:-
For every Certificate of Rules of any Friendly Society, one guinea.
For every Certificate of Rules of any branch of such society, two
shillings and sixpence.
For every Certificate of amendment, repeal, or alterations of Rules
of any society or branch, two shillings and sixpence.
22. In regard to fees payable to the Registrar on reference, it is
enacted that one of Her Majesty's principal Secretaries of State
shall from time to time fix the amount (§ 31).
POWERS, PRIVILEGES, AND LIABILITIES.
21
8. Power to a Society to Make, Alter, or Repeal Rules; and to
Appoint Committee and Officers.
The Act declares it lawful for the persons intending to establish,
under the provisions thereof, a Friendly Society, or branch thereof,
to make or adopt Rules for the government and guidance of the same;
and to make such provision in the rules as they shall think fit for
ordaining, repealing, altering, or amending any rules;
And to impose reasonable fines and forfeitures on any member
offending against the regulations of the same;
And to form a General Committee or Board of Management, and
to delegate to the same all or any of the powers given by the Act to
be executed either with respect to the management of the society, or
branch, or the enactment, amendment, repeal, or alteration of the
rules thereof (§ 4).
To appoint trustees, a treasurer, and an Officer who shall keep the
books and accounts, and prepare the Returns required by the Aot
(Ibid. c. 2).
9. Power to Society to Take Premises.
The Trustees or Treasurer, with the consent of the society, or
branch, are empowered to purchase, hire, or take upon lease, any
room or premises, for the purpose of holding therein the meetings of
such society, or branch, or for the transaction of business relating
thereto, and to hold the same in trust in and for the use of such
society, or branch, and to sell, exchange, let, and demise the same,
in whole or in part, with the consent as aforesaid (§ 13).
10. Treasurer.
The powers, duties, and liabilities of the Treasurer of a Friendly
Society established under the Act, and other matters pertaining to
his office of treasurer, may be thus enumerated :--
1. The manner of his appointment must be set forth in the rules
(§ 4, c. 2).
2. Every treasurer must, before he shall be admitted to take upon
him the execution of any such office, become bound in a bond
according to the form set forth in Schedule (E) to the Act annexed,
with two sufficient sureties for the just and faithful execution of his
office, and for rendering a just and true account according to the
rules of such society, or branch, in such penal sum of money as by
22
REGISTRATION OF FRIENDLY SOCIETIES.
the trustees or board of management shall be deemed expedient
(§ 11).
3. Every such bond given by or on behalf of such officer must be
given to the trustees of the said society, or branch, for the time being
(§ 11).
4. In case of forfeiture, it shall be lawful for the society to sue
upon such bond in the name of the trustees for the time being, for
the use of the said society, or branch (§ 11).
5. Provided that such bond shall have in Scotland the same force
and effect as a bond in the form in use in Scotland containing a
clause of registration (§ 111).
6. The treasurer (or trustees) for the time being, of any society
or branch, established under this Act, or of any society already
established under any of the Acts relating to Friendly Societies,
may, by and with the consent of the society or branch, to be had and
testified in such manner as the rules shall direct, lay out and invest
such part of all sums of money received by the society to the uses
thereof as may not be wanted for the immediate exigencies thereof, or
to meet the usual accruing liabilities thereof, in the names of such
trustees, in or on the particular securities prescribed by the Act.
(See Investment of Funds, postea) (§ 12).
7. No treasurer, or trustee, or other officer, of any society or
branch established under the authority of this Act, is liable to make
good any deficiency which may arise in the funds thereof, unless he
shall have declared in writing under his hand, to be deposited with
the Registrar, that he is willing so to be answerable (§ 14).
8. And it shall be lawful for each of such persons to limit his
responsibility to such sum as shall be specified in such writing (§ 14).
9. Provided always, that every treasurer (trustee and other officer)
shall be personally responsible and liable for all monies received by
them on account of, or for the use of such society or branch (§ 14).
10. Every person who shall have or receive any funds or property
whatsoever belonging to any society or branch, or shall in any man-
ner be entrusted with the disposal, management, or custody thereof,
or of any books, papers, or property relating to the same, his or her
executors, administrators, and assigns respectively, shall, upon
demand made, or notice in writing given, or left at the last
or usual place of residence of such persons, in pursuance of any
order of not less than two trustees, or three members of the com-
mittee or board of management, give in his account, at the usual
POWERS, PRIVILEGES, AND LIABILITIES.
23
meeting of such society or branch, or to such committee or board of
management, to be examined and allowed, or disallowed (§ 28).
11. Every such person shall, on the like demand or notice, pay
over all the monies remaining in his hands, and assign and transfer,
or deliver all securities and effects, books, papers, and property in
his hands or custody, to the treasurer or trustee for the time being,
or to such other person as such committee or board of manage-
ment shall appoint (§ 28).
12. And in case of any neglect of such person to comply with
any or all of the requirements aforesaid, such person may, upon a
petition from three members of the society, or committee, or board
of management, to the Registrar, be proceeded against in a sum-
mary way by such Registrar, who is empowered to make such order
therein, as to him in his discretion shall seem just (§ 28).
13. Every such person aforesaid, having in his hands or posses-
sion, by virtue of his said office or employment, any monies or
effects of any Friendly Society, or branch, established under this
Act, or any deeds relating to the same, who shall die, become a
bankrupt or insolvent, or have any execution or attachment, or other
process issued, or action, or diligence raised against his lands, goods,
chattels, or effects, or property or estate, heritable or moveable,
or make any assignment, disposition, assignation, or other convey-
ance thereof for the benefit of his creditors, his heirs, executors,
administrators, or assigns, or other persons having legal right, or
the sheriff or other officer executing such process, or the party using
such action or diligence, shall, within forty days after demand
made in writing by the order of any such society or branch, or of
not less than three of the committee of management assembled at
any meeting thereof, deliver and pay over all monies, and other
things belonging to such society or branch, to such person as such
society or committee of management shall appoint, and shall pay
out of the estate, assets, or effects, heritable or moveable, of such
persons, all sums of money remaining due which such person re-
ceived by virtue of his said office or employment, before any other
of his debts are paid or satisfied, or before the money directed to be
levied by such process as aforesaid, or which may be recovered or
recoverable under such diligence, is paid over to the party issuing
such process or using such diligence; and all such assets, lands,
goods, chattels, property, estates, and effects, shall be bound to the
payment and discharge thereof accordingly (§ 36).
24.
REGISTRATION OF FRIENDLY SOCIETIES.
14. The treasurer (or trustees, or any two or more of them) of
every certified society or certified branch, must, on payment directly.
into the Bank of England of any sum of money not less than £50,
make a declaration that such monies belong exclusively to the society
or branch for which such payment is intended to be made (§ 38).
15. The provisions of this Act shall extend to the treasurer,
trustees, or other officer intrusted with the receipt, management, or
disposal of any of the funds or property of benevolent or charitable
institutions, formed by voluntary subscriptions, when the rules of
any such institution or society, and all alterations and amendments
thereof, shall be registered under the provisions of this Act (§ 48).
11. Trustees.
It is rendered imperative on every Friendly Society, established
under the Act, to appoint, and in the rules thereof to regulate, the
manner of making, repealing, or altering the rules as to the appoint-
ment of trustees or treasurer, and an officer who shall keep the
books and accounts, and prepare the Returns required by the Act;
and also a general board or committee of management, and the duties
and powers of each (§ 4, c. 2).
The offices of trustee and treasurer are usually separate and distinct,
but there appears to be no objection to the treasurer being also a
trustee; for, by the 12th section of the Act, he is, like the trustees,
empowered and required, by and with the consent of the society or
branch to which he belongs, to invest the funds and property of the
society, upon the particular kinds of securities, or some of them, pre-
scribed by the Act, but such investments must be made in the names of
the trustees. It is, indeed, clear, from the words of the Act, in refer-
ence to the investment of funds, "the trustees or treasurer for the
time being," that an equal and independent power with the trustees.
is given to the treasurer to invest funds, provided the investments
made by him are in the names of such trustees.
It is, however, manifest that such power is given to the treasurer
to remedy a difficulty which might otherwise arise, in case of a
neglect of duty by the trustees, in failing to deal with the property
of the society in the manner prescribed by the Act. It is probable,
where the trustees are not members of the General Board or Com-
mittee of Management, that they may be occasionally absent, and
so not at all times in a position to act for the society. This provision
of the Act, therefore, may prove to be a very salutary one.
POWERS, PRIVILEGES, AND LIABILITIES.
25
It is, however, the duty at all times of the trustees not only to
see to the proper investment of, and to invest, the funds of the
society not required for its immediate exigencies, but that the funds
generally are administered with care and economy, and strictly
applied to the purposes only for which the society may be consti-
tuted.
The trustees have power, with the consent of the society or
branch, from time to time, to alter and transfer such securities and
funds, and to make sale thereof respectively (§ 12).
And all dividends, interests, and funds, which shall from time to
time arise from the monies so laid out or invested as aforesaid, shall
be brought to account by such trustees, and shall be applied to and
for the use of such society or branch, according to the rules thereof
(§ 12).
The trustees or treasurer may, with consent of the society or
branch, purchase or hire premises for the use of the society. (This
power has been more fully noticed under the head of "the Power
of the Society to take Premises.")
The consent of the society or branch required to be first obtained
by the trustees or treasurer, in the exercise of their powers, may be
undoubtedly taken to mean the consent of the general board or
committee of management, to whom are intrusted the control and
regulation of the ordinary business and concerns of the society. It
is not to be supposed that appeals to the general body of members
would be necessary from time to time to authorize the acts of the
trustees or treasurer, a course which may be found most inconvenient
in practice. It may, however, be well to declare in the rules of the
society that the general board or committee of management shall be
empowered to give the requisite consent to the trustees and trea-
surer, and that such officer or officers shall not act without such
consent.
Whether the trustees or treasurer be the party or parties origin-
ally promoting the investment, all funds and property, real and
personal, of the society or branch, must be invested in the names of
the trustees (§§ 12 and 13).
No person shall be deemed to be a trustee under the meaning of
the Act, until the resolution of the society or branch appointing him
trustee shall have been transmitted, under the hand of three mem-
bers of the society or branch, and signed by such trustee, counter-
signed by the clerk or other principal officer, to the Registrar, to
26
REGISTRATION OF FRIENDLY SOCIETIES.
be by him deposited with the rules of the society or branch in his
custody (§ 13).
The same liabilities and responsibilities which, with respect to the
accounting for and paying over to the society the funds and pro-
perty in his possession, power, or custody, and to the extent of his
responsibility, for funds received by him, as have been before men-
tioned as applying to the treasurer, equally hold good with and
apply to the trustees, and, indeed, to and with any other officer or
person connected with the society, who may at any time have been
in receipt of, or in possession of any of its funds or property; and the
like powers granted to the society for the securing of the first pay-
ment out of the estates of such treasurer, officer, or other persons,
any funds and property belonging to the society, alike apply to the
acts, person, and property of the trustees.
The trustees or trustee for the time being of every society shall
and are by this Act respectively authorized to bring or defend, or
cause to be brought or defended, any action, suit, or prosecution,
criminal as well as civil, in any Court of Law or Equity, touching or
concerning all the property, right, or claim whatsoever of, or belong-
ing to, or had by such society or branch (§ 13).
And such persons shall and may, in all cases concerning the pro-
perty, right, or claim aforesaid of such society, sue and be sued,
plead and be impleaded, in any Court of Law or Equity, in their, or
his proper names or name, as trustees or trustee of such society or
branch, without other description (§ 13).
And no such suit, action, or prosecution, shall be discontinued or
abated by the death of such person, or by his removal from the office of
trustee, but the same shall and may be proceeded in by the succeed-
ing trustees or trustee, in the proper name of the person commencing
the same (§ 13).
And such succeeding trustee or trustees shall pay or receive like
costs, as if the action or suit had been commenced in his or her name,
for the benefit of, or to be reimbursed from the funds of such society
or branch (§ 13).
The trustees (or other officers) of every society or branch must,
for the purpose of exempting such society or branch from the pro-
visions of the Act 39 Geo. 3, c. 79, intituled, "An Act for the more
effectual Suppression of Societies established for Seditious and
Treasonable Purposes, and for better preventing Treasonable and
Seditious Practices," and from the Act 57 Geo. 3, c. 19, intituled,
POWERS, PRIVILEGES, AND LIABILITIES.
27
:
"An Act for the more effectual Preventing Seditious Meetings and
Assemblies," when required, under the hand of two of Her Majesty's
justices of the peace, give full information to such justices of the
nature, objects, proceedings, and practices of such society or branch,
and in default thereof, the provisions of the said recited Acts shall
be in force with regard to such society or branch.
The trustees or other officer of every such society or branch, in
whose charge the accounts of the said society are kept, shall once in
every year prepare, or cause to be prepared, a general statement of
the funds and effects of such society or branch during the past twelve
months, in such form as shall enable the Registrar to make a Return
under the several heads set forth in Schedule (F) to this Act
annexed, as accurately as such officer may be able to furnish the
information required, and shall transmit the same to the Registrar
on some day before the first of September in each year; and every
such statement shall be attested by two trustees of such society, and
by the auditor, if any such shall have been appointed, and shall be
countersigned by the officer who keeps the accounts of such society;
and every member shall be entitled to receive from the said society
a copy of such statement on payment of sixpence (§ 15).
If in any year such statement shall not have been transmitted as
aforesaid on or before the last day of December following, the Registrar
shall give notice to the trustees of such society or branch; and if the
said statement shall not have been transmitted on or before the last day
of December following, or if any fraudulent or wilfully false Return
shall have been transmitted, such trustees are hereby declared to be
incapable of prosecuting any action in any Court of Law or Equity,
on behalf of such society or branch, until they shall have duly fur-
nished to the Registrar such statement as aforesaid.
And whereas it is desirable, for the better security of Friendly
Societies, that correct calculations of tables of payment, and allow-
ances dependent on the duration of sickness and the probabilities of
human life, should be constructed for their assistance; and it is
expedient to collect data and facts resulting from the experience of
such societies from time to time, for the purpose of correcting such
calculations; be it enacted, that the trustees or other officers as
aforesaid of every society or branch established under the provisions
of this Act, in which any benefits are assured for an allowance in
sickness, an annuity, deferred or immediate, or a sum to be paid on
death, shall, within three months after the expiration of the month
28
REGISTRATION OF FRIENDLY SOCIETIES.
of December, one thousand eight hundred and fifty-five, and so again
within three months after the expiration of every five years suc-
ceeding, transmit to the Registrar a Return of the rate of sickness
and mortality experienced by the society or branch within the pre-
ceding five years, in such form as shall be prepared for that purpose,
and furnished to the trustees of every such society or branch by the
said Registrar, under the direction of one of Her Majesty's principal
Secretaries of State (§ 17).
If any trustee or other officer of any society established under the
provisions of this Act, or of any Act relating to Friendly Societies,
pay any sum of money which may have been incurred and become
payable on the death of any member thereof, or of the husband,
wife, or child of any member, unless the party applying for the same
shall produce and deliver to the officer a certificate signed by a
physician, surgeon, apothecary, or coroner, in the form (D) set
forth in the schedule to this Act annexed, except in cases where,
from the nature of the circumstances, it is impossible to procure
such certificate, such officer shall be liable to pay a penalty not
exceeding £10, to be recoverable before any justice of the peace
or magistrate of any borough, where such society is established
(§ 3).
When on the death of any member of any such certified Friendly
Society, or any certified branch, or of any Friendly Society already
established, any sum not exceeding fifty pounds shall become pay-
able, it shall be lawful for the trustees for the time being of such
society, if they shall be satisfied that no Will was made and left by
such deceased member, and that no letters of administration or con-
firmation will be taken out of the funds, goods, and chattels of such
depositor, to pay the same to the widower or widow of such member,
as the case may be, or to the child of such member, if so directed by
rule of such society or branch; and in case there shall be no such
direction, then to pay and divide the same to and amongst the
person or persons entitled to the effects of the deceased intestate,
without taking out letters of administration in England and Ireland,
and without confirmation in Scotland (§ 40).
any
Whenever the trustees of any certified Friendly Society or branch,
at any time after the decease of any member, shall have paid and
divided any sum of money to or amongst any person or persons who
shall at the time of such payment appear to such trustees to be
entitled to the effects of any deceased intestate member, the payment
POWERS, PRIVILEGES, AND LIABILITIES.
29
of any such sum or sums of money shall be valid and effectual with
respect to any demand of any other person or persons as next of kin
of such deceased intestate member, or as the lawful representative
or representatives of such member, against the funds of such society
or branch, or against the trustees thereof; but, nevertheless, such
next of kin or representatives shall have remedy for such money so
paid as aforesaid against the person or persons who shall have
received the same (§ 41).
The declaration which has been already mentioned as necessary to
be made by the treasurer of every society upon the investment of
any sum of money not less than £50 with the Commissioners for
the Reduction of the National Debt is also required to be made by
the trustees (§ 38).
12. Investment of Funds.
The powers conferred by the Act for the investment of the funds
will be found to be much more extensive and advantageous to the
interests of Friendly Societies than those given by any preceding
statutes.
The trustees or treasurer for the time being of any such society
or branch, or of any society already established under any of the
Acts relating to Friendly Societies, shall, and they are hereby re-
quired, from time to time, by and with the consent of such society
or branch, to be had and testified in such manner as the rules shall
direct, to lay out and invest such part of all sums of money as shall
at any time be collected, given, or paid to and for the purposes of
such society, as may not be wanted for the immediate use thereof, or
to meet the usual accruing liabilities of such society or branch, in
the names of such trustees, in any Savings' Banks, subject to the
provisions of Acts in force relating to the same, or in any of the
parliamentary stocks or public funds of Great Britain or Ireland,
or at interest upon government securities, or in Bank of England
stock, or in the stock or securities of the Honourable East India
Company, or on mortgage of freehold, leasehold, or copyhold pro-
perty, such leasehold being for a term of years absolute, of which
not less than thirty shall be unexpired, and such copyhold being
copyhold of inheritance, in Great Britain or Ireland, or on security
of any heritable property, or in any chartered or other public Joint-
Stock Bank in Scotland, or in or upon the security of any county
or borough rates authorized to be levied and mortgaged by any Act
30
REGISTRATION OF FRIENDLY SOCIETIES.
of Parliament, or on loan to any member of such society on the
security of any policy of assurance effected on his own life, provided
that the amount of such loan shall not exceed the actual estimated
value of such policy at the time such loan be made (§ 12).
All hereditaments, monies, goods, chattels, and effects whatever
and all titles, securities for money, and other obligatory instruments
and evidences or muniments, and all rights or claims, belonging to
or had by such society or branch, shall be vested in the trustees or
trustee for the time being of the same, for the use or benefit of such
society or branch, and the respective members thereof, their respec-
tive executors or administrators, according to their respective claims
and interests; and after the death or removal of any trustees or
trustee, shall vest in the succeeding trustees or trustee for the same
estate and interest as the former trustees or trustee had therein, and
subject to the same trusts, without any conveyance or assignment
whatever, except the transfer of stocks and securities in the public
funds of Great Britain and Ireland; and also shall, for all pur-
poses of action or suit, as well criminal as civil, in law or in equity,
in anywise touching or concerning the same, be deemed and taken
to be, and shall in every such proceeding (where necessary) be stated
to be the property of the person or persons appointed to the office
of trustee of such society for the time being, in his or their proper
name or names, without further description (§ 13).
It shall be lawful for any certified society, or certified branch
thereof, established under this Act, to pay directly into the Bank of
England any sum of money not less than fifty pounds to the account
of the Commissioners for the Reduction of the National Debt, upon
the declaration of the treasurer or trustees of such society or branch,
or any two or more of them, that such monies belong exclusively
to the society or branch for which such payment is intended to be
made; and the cashier of the Bank of England is hereby required
to receive all such monies, and to place the same to the account
raised in the names of the said Commissioners for the time being in
the books of the Bank, denominated "The Fund for Friendly
Societies;" and in case such declaration shall not be true, then and
in every such case the sum of money paid in on such declaration
shall be forfeited to the said commissioners, and applied by them in
the manner directed by an Act passed in the ninth year of the reign
of King George IV., intituled "An Act to Consolidate and Amend
the Laws relating to Savings Banks;" and all the clauses and pro-
POWERS, PRIVILEGES, AND LIABILITIES.
31
visions of the Acts for the time being in force relating to Savings'
Banks, with respect to the account of such banks, and the regulation
of receipts, certificates, or orders concerning the same, shall be
applicable to the monies so paid in as aforesaid under the authority of
this Act, as if the same had been repeated herein; and every such
society or branch shall, on paying money directly into the bank as
aforesaid, be entitled to receive receipts bearing interest at the rate
of twopence per centum per diem; provided always, that no frac-
tional part less than one penny shall be allowed or paid as interest
upon the principal sum contained in such receipt (§ 38).
That no Friendly Society or branch established under any Act
now in force relating to Friendly Societies shall, from and after the
passing of this Act, be entitled or authorized to pay directly into
the Bank of England any sum of money to the account of the
Commissioners for the Reduction of the National Debt, except so
much as may be paid on account of assurances made previous to the
passing of this Act by any society which has already invested its
funds, or any part thereof, with the said commissioners: provided
always, that nothing herein contained shall affect the right of any
society established under any of the Acts hereby repealed, and
which shall have invested its funds with the Commissioners for
the Reduction of the National Debt before the passing of this Act,
to receipts bearing interest at such rate as such society were entitled
to receive under the provisions of the said Acts, for any monies
invested, or hereafter to be invested, with the said commissioners on
account of assurances made before the passing of this Act (§ 43).
That from and after the passing of this Act, a declaration shall
be made by the trustees of every Friendly Society established as
aforesaid, on the payment into the Bank of England of any sum of
money to the account of the said commissioners, that such payment
is on account of assurance made previous to the passing of this Act,
in such form as the said commissioners shall from time to time
direct; and in case such declaration shall not be true, then and in
every such case the sum of money paid on such declaration shall be
forfeited to the said commissioners, to be applied by them in the
manner directed by an Act passed in the ninth year of the reign of
King George IV., intituled "An Act to Consolidate and Amend the
Laws relating to Savings Banks" (§ 44).
That no Friendly Society already established, nor any certified
society, or certified branch thereof, which has already invested, or
32
REGISTRATION OF FRIENDLY SOCIETIES.
may hereafter invest, any money with the Commissioners for Re-
duction of the National Debt, shall be entitled to re-deposit any
monies with them, without the consent of the said commissioners,
or of the Comptroller-General or Assistant Comptroller in their
behalf (§ 47).
13. Payments on Death of Members in Existing Societies.
It is necessary to observe, that the principle established by former
statutes relating to Friendly Societies, of allowing payment of
benefits or assurances, on the death of the person or persons pur-
chasing the same, to his or her nominee or nominees, is by this Act
wholly abolished so far as refers to benefits or assurances effected
after the passing of the same; and payments on death of members can
now only be made by societies to the widower or widow of a mem-
ber, as the case may be, or the child, or the executors, administra-
tors, or assigns of such member, and not to nominees, to which effect
an express declaration is given in the Act.
From and after the passing of this Act it shall not be lawful for
any society established under any Act hereby repealed, to grant any
assurance whereby the sum assured on the death of the member
shall be payable to any nominee, or to any other person than the
widower or widow of a member, as the case may be, or the child, or
the executors, administrators, or assigns of such member;
Or in case the member shall die intestate, and the sum payable on
his death shall not exceed fifty pounds, to the person whom the
trustees shall consider entitled to the goods and effects of the member
so dying intestate;
Provided always, that nothing in this Act contained shall affect
any power, privilege, or exemption in respect of any assurance
legally made or granted before the passing of this Act under the
provisions of any of the Acts hereby repealed;
Provided also, that it shall be lawful for any such society to add
to its rules a rule or rules whereby any sum payable on the death of
a member may be made payable to the executors, administrators, or
assigns of such member (§ 42).
14. Officer to Keep Books and Accounts, and Prepare
Returns.
The Act renders it imperative upon every society to appoint a
secretary, steward, or other principal officer (by whatever denomina-
POWERS, PRIVILEGES, AND LIABILITIES.
33
tion it may think fit to style him), to keep the books and accounts,
and prepare the Returns required by the Act (§ 4, c. 2).
The Annual Return required to be made to the Registrar is directed
to be prepared by the trustees or other officer in whose charge the
accounts of the society are kept; and the same must be coun-
tersigned by the officer who keeps the accounts of such society
(§ 15).
15. Power to Appoint an Auditor.
The Act contains no direct injunction for the appointment of an
Auditor of the books and accounts of a society. But not only
may this power be considered to have been given, but the necessity
also of the appointment of such an officer on behalf of the members
is declared manifest, by the declaration, "That every such (annual)
statement shall be attested by two trustees of such society, and by
the auditor, if any such shall have been appointed” (§ 15).
16. General Board or Committee of Management.
Among the requirements which must be distinctly set forth in
the rules of every society, is the appointment of a general board ór
committee of management, to whom the ordinary conduct of the
affairs of the society must be entrusted. The parties most proper
to be appointed upon such general board or committee of manage-
ment are obviously the members of the society, associated with the
whole number, or a portion, at least, of the trustees. To these may
be added the treasurer. It is, however, wholly left to the society
to determine the number, qualification, and mode of election of the
members of the general board or committee of management. All
that the Act definitely lays down is, that such a body must be ар-
pointed, and that the rules must prescribe the mode of appointment,
and the duties and powers (§ 4, c. 27).
17. Power to Sue and be Sued.
The power given to societies established under the Act, to sue
and be sued, has been fully noticed under the head of trustees, in
whose name or names all actions, suits, or prosecutions, must be
taken, commenced, prosecuted, or defended (§ 14).
The power to the trustees to bring any action in any Court of
Law or Equity is taken away by their neglect to make the annual
statement required to be transmitted to the Registrar, in the manner
D
34
REGISTRATION OF friendLY SOCIETIES.
and at the time prescribed by the Act; or if any fraudulent or
wilfully false return be transmitted by them (§ 16).
18. Returns to the Registrar.
The Returns required by the Act to be made by the society to the
Registrar are two-fold, namely:-
First. The Annual Return, which must comprise a general state-
ment of the funds and effects of the society or branch during the
past twelve months; and
Second. The Quinquennial Return, which must define the rate of
sickness and mortality experienced by the society within the pre-
ceding five years.
The following are the directions which the Act has laid down as
to these Returns.
The trustees or other officer of every such society or branch, in
whose charge the accounts of the said society are kept, shall once in
every year prepare, or cause to be prepared, a general statement of
the funds and effects of such society or branch during the past
twelve months, in such form as shall enable the Registrar to make a
Return under the several heads set forth in Schedule (F) to this
Act annexed, as accurately as such officer may be able to furnish
the information required, and shall transmit the same to the Re-
gistrar on some day before the first of September in each year;
and every such statement shall be attested by two trustees of such
society, and by the auditor, if any such shall have been appointed,
and shall be countersigned by the officer who keeps the accounts of
such society; and every member shall be entitled to receive from
the said society a copy of such statement on payment of sixpence
(§ 15).
And whereas it is desirable, for the better security of Friendly
Societies, that correct calculations of tables of payment and allow-
ances dependent on the duration of sickness and the probabilities of
human life should be constructed for their assistance; and it is ex-
pedient to collect data and facts resulting from the experience of
such societies from time to time, for the purpose of correcting such
calculations: Be it enacted, that the trustees or other officers as
aforesaid of every society or branch established under the provisions
of this Act, in which any benefits are assured for an allowance in
sickness, an annuity deferred or immediate, or a sum to be paid on
death, shall, within three months after the expiration of the month
POWERS, PRIVILEGES, AND LIABILITIES.
35
of December, one thousand eight hundred and fifty-five, and so
again within three months after the expiration of every five years
succeeding, transmit to the Registrar a Return of the rate of sickness.
and mortality experienced by the society or branch within the pre-
ceding five years, in such form as shall be prepared for that purpose,
and furnished to the trustees of every such society or branch, by the
said Registrar, under the direction of one of Her Majesty's principal
Secretaries of State (§ 17).
19. Privileges of Members.
The rights and privileges expressly conferred by this Act upon
the members of every society established under its provisions, or to
which, by inference, they may be said to be entitled, may be thus
enumerated:
1. To form themselves into a society, and, within the scope and
provisions of the Act, to declare its constitution, which must be
fully expressed in the Rules by which it is to be governed
(§§ 1 & 2).
2. To appoint trustees, a treasurer, a general board or committee
of management, an auditor or auditors, arbitrators, an officer to keep
the books of accounts, and prepare the Returns; and such other
functionaries, clerks, and servants, as the affairs of the society may
require.
3. To be eligible to vote for and to be chosen, subject to the rules
and regulations of the society, to fill any of the before-mentioned offices.
4. To attend all general meetings of the members.
5. To receive from the society, on payment of sixpence each, a
copy of every annual statement of the funds and effects thereof, as
transmitted to the Registrar (§ 15).
6. To have disputes which may arise between the members, or
persons claiming under or on account of any member of the society
or branch, and the trustees, treasurer, or other officer thereof, settled
in such manner as the rules thereof shall direct (§ 22).
And where it is provided that disputes shall be settled by arbitra-
tion, the number of arbitrators, and the mode of election, shall be
settled in the rules.
7. When a member is unjustly expelled, arbitrators or justices
may award re-instalment, or, in default, a sum as compensation to him.
8. A member may be a witness in any proceedings had criminally,
at law or in equity, touching the purposes of the society (§ 32).
D 2
36
REGISTRATION OF FRIENDLY SOCIETIES.
9. A minor may be a member of a society or branch, and is
empowered to execute all instruments, and give all necessary ac-
quittances; provided always, that such minor shall not be com-
petent during his minority to hold any office, as director, trustee,
treasurer, or manager, in such society or branch (§ 33).
20. Penalties on Members and Officers.
The penalties to which, by the Act, the officers and members are
declared amenable for an infraction of its provisions, are of three
kinds, namely: the payment of a fine, the forfeiture of a privilege,
and the suffering of imprisonment.
1. Upon an officer, for payment of any sum of money which may
have been incurred and become payable on the death of any member
of a society, or of the husband, wife, or child of any member, unless
the party applying for the same produce and deliver to the officer
a certificate signed by a physician, surgeon, apothecary, or coroner,
in the form (D) set forth in the schedule to the Act annexed,
except in cases where, from the nature of the circumstances, it is
impossible to procure such certificate, a penalty not exceeding ten
pounds.
And upon conviction thereof, one half of the said penalty shall
be paid to the informer, and he is declared to be competent to give
evidence in this case; and the other half to be paid to the overseer
of the parish in which the place of business of the society or branch
"is situated, to be applied to the relief of the poor therein (§ 3).
2. Upon the trustees, for failing to transmit to the Registrar, on or
before the last day of December in each year, the general statement
of the funds and effects of this society or branch, required to be
made annually on or before the first day of September;
Or, if any fraudulent or wilfully false return shall have been
transmitted by such trustees;
Then, and in either case, such trustees are declared incapable of
prosecuting any action in any Court of Law or Equity, on behalf of
such society or branch, until they shall have duly furnished to the
Registrar such statement aforesaid (§ 16).
3. Upon any officer or member of any society or branch, or any
person committing any act of fraud whatever against any society or
branch, whether by false information, or by false representation, he
shall obtain possession of any property whatsoever of such society
or branch, or any part thereof, or having the same in his or her
POWERS, PRIVILEGES, AND LIABILITIES.
37
possession, he or she shall withhold or misapply the same, then, on
conviction, he shall pay double the amount of the money so
obtained or withheld, to be paid to the treasurer on behalf of the
society;
Or, if books, papers, securities, or other effects of the society, be
withheld, he shall be ordered to deliver the same over to the society,
together with such costs as shall be awarded by the justices before
whom such conviction shall be had, not exceeding the sum of twenty
shillings;
Or, if the money awarded is not paid, the same shall be levied
by distress upon the goods and chattels of the offender.
And in default of such distress, the justices shall commit such
offender to the common gaol or house of correction, there to be kept
to hard labour for a period not exceeding three calendar months, as
to them shall seem fit.
Provided nevertheless, that nothing herein contained shall pre-
vent the society or branch from proceeding by indictment or com-
plaint against the party complained of; and
Provided also, that no party shall be proceeded against by indict-
ment or complaint, if a previous conviction has been obtained for
the same offence under the provisions of this Act (§ 26).
4. Upon the treasurer or trustees making any declaration which
is required to be made, upon the investment of monies with the
Commissioners of the National Debt, which declaration shall not be
true, then and in every such case the sum of money paid in on such
declaration shall be forfeited to the said commissioners (§ 38).
5. If any person after the passing of this Act shall become a
member of more than one society or branch, and thereby be entitled
to certain benefits on account of the same kind of assurance from
more than one society or branch, it shall not be lawful for him to
claim or receive such benefit from any or either society or branch
without signing a declaration that the joint value or amount of all
the benefits in any one kind of assurance to which he may be
entitled from any society or societies, branch or branches, of which
he
may be a member, does not in the aggregate exceed the amount
of one hundred pounds in one sum, or an annuity of thirty pounds
per annum, or a sum in sickness of twenty shillings per week ;
and in case such declaration shall not be true, such member shall be
liable to the penalties herein-before enacted in case of fraud (§ 37).
6. Every person who upon oath in any proceedings before the
38
REGISTRATION OF FRIENDLY SOCIETIES.
Registrar shall wilfully and corruptly give any false evidence before
such Registrar, shall be deemed to be guilty of perjury (§ 29).
7. If any person shall refuse or neglect to obey any order of the
Registrar, and shall be convicted thereof, he shall be deemed guilty
of a misdemeanor.
8. Upon any trustee, officer, or other person, abetting or aiding
in the division or misappropriation of the funds of a society at a
dissolution thereof, without the consent of the members, as prescribed
by the Act, the like penalties as are in the Act prescribed in cases
of fraud (§ 34).
21. Exemption from Provisions of the Acts relating to Societies
established for Seditious and Treasonable Purposes.
The provisions of an Act passed in the thirty-ninth year of the
reign of King George III., intituled "An Act for the more effectual
Suppression of Societies established for Seditious and Treasonable
Purposes, and for better Preventing Treasonable and Seditious Prac-
tices," and also of another Act passed in the fifty-seventh year of the
reign of King George III., intituled "An Act for the more effectual
Preventing Seditious Meetings and Assemblies," shall not extend to
any society or branch, established under this Act, in which benefits
are assured to the members depending on the laws of sickness and
mortality, or to any meeting of the members or officers thereof, in
which society or branch, or at which meeting, no business whatever
is transacted other than that which directly and immediately relates
to the objects of the society or branch as declared in the rules
thereof, as they are set forth in the certified copy thereof: provided
always, that the trustees or other officers of such society or branch,
when required under the hand of two of Her Majesty's justices of
the peace, shall give full information to such justices of the nature,
objects, proceedings, and practices of such society or branch; and in
default thereof, the provisions of the said recited Acts shall be in
force with regard to such society or branch (§ 21).
22. Fraud Punishable by Justices.
For the more effectually preventing fraud and imposition on the
funds of such societies, if any officer, member, or any other person,
being, or representing himself to be, a member of such society or
branch, or the nominee, executor, administrator, or assignee of any
member thereof, or any other person whatever, shall, in or by any
POWERS, PRIVILEGES, AND LIABILITIES.
39
false representation or imposition, obtain possession of the monies,
securities, books, papers, or other effects of such society or branch,
or any part thereof, or having the same in his or her possession, shall
with-hold or mis-apply the same, it shall be lawful for any justice of
the peace acting in the county or borough in which the principal
place of business of such society is situated, upon complaint made on
oath or affirmation by an officer of such society or branch appointed
for that purpose, to summon such person against whom such com-
plaint shall be made to appear at a time and place to be named in
such summons; and upon his or her appearance, or in default thereof,
upon due proof upon oath or affirmation of the service of such sum-
mons, it shall be lawful for any two justices acting in the county or
borough aforesaid to hear and determine the said complaint; and
upon due proof of such fraud, the said justices shall convict the said
party, and award double the amount of the money so obtained or
with-held to be paid to the treasurer, to be applied by him to the
purposes of the society or branch, or order the said securities, books,
papers, or other effects, to be delivered to the society or branch,
together with such costs as shall be awarded by the said justices,
not exceeding the sum of twenty shillings; and in case such person
against whom such complaint shall be made shall not pay the sum of
money so awarded to the person and at the time specified in the said
order to deliver the said effects as aforesaid, such justices are hereby
required, by warrant under their hands and seals, to cause the same
to be levied by distress and sale of the goods of such person on whom
such order shall have been made, or by other legal proceeding, toge-
ther with such costs as shall be awarded by the said justices, not
exceeding the sum of ten shillings, and also the costs and charges
attending such distress and sale, or other legal proceeding, returning
the overplus (if any) to the owner; and in default of such distress
being found, or of such effects as aforesaid being returned, the said
justices of the peace shall commit such person, so proved to have
offended, to the common gaol or house of correction, there to be kept
to hard labour for such a period not exceeding three calendar months
as to them shall seem fit: provided nevertheless, that nothing herein
contained shall prevent the said society or branch from proceeding
by indictment or complaint against the party complained of; and
provided also, that no party shall be proceeded against by indictment
or complaint, if a previous conviction has been obtained for the same
offence under the provisions of this Act (§ 26).
40
REGISTRATION OF FRIENDLY, SOCIETIES.
23. Order of Justices to be Final.
That every sentence, order, and adjudication of justices under this
Act, shall be final and conclusive to all intents and purposes, and shall
not be subject to appeal, and shall not be removed or removable into
any Court of Law, or restrained or restrainable by the injunction of
any Court of Equity, and that no suspension, advocation, or reduc-
tion shall be competent: provided always, that in Scotland the
sheriff, within his county, shall have such and the like power,
authority, and jurisdiction, which is in this Act conferred upon
any justice or justices of the peace, and shall exercise the same in
such and the like form and manner as is used in cases of a summary
nature, and in the recovery of small debts in the County Court
(§ 27).
24. Disputes between Society and Trustees to be Settled according
to Rules.
The Act prescribes that disputes of an ordinary nature occurring
in a society between the officers and members thereof, such as may
arise out of any questions of fact, or out of errors in accounts, shall
be settled according to the rules of the society.
If any dispute shall arise between the members, or person claim-
ing under or on account of any member, of any society or branch
established under this Act, and the trustees, treasurer, or other
officer or committee thereof, it shall be settled in such manner
as the rules of such society or branch shall direct, and the decision
so made shall be binding and conclusive (§ 22).
25. Questions of Equity to be Settled by County Court.
The Act, however, whilst it provides for the settlement by the
society itself of disputes of ordinary character, takes especial care
that all questions requiring the authority and decision of a higher
tribunal shall be referred to Courts competent to settle the same.
But if such dispute be of such kind, that for the settlement
of it, according to the laws now in force, recourse must be had
to one of Her Majesty's Courts of Equity, or to the Court of
Session, it may be referred, at the option of either party, to
the Judge of the County Court, or of the Sheriff Court in Scot-
land, who shall proceed ex parte, on notice in writing to the
other of the said parties being left at his usual place of resi-
POWERS, PRIVILEGES, AND LIABILITIES.
41
dence or abode ten days previously; and he is hereby authorized to
require of all parties who are or may have been members, trustees,
or officers of such society to produce before him all books or other
documents relating to the concerns of such society; and thereupon,
if he shall so think fit, it shall be lawful for him to determine the
said dispute, and to displace any such trustee or officer, or to make
such award as the justice of the case, in his opinion, may require;
and such decision or award shall be binding and conclusive (§ 22).
26. Arbitration.
The Act has not only laid down that where disputes shall be
referred to arbitration, the number of arbitrators and mode of elec-
tion shall be named in the rules of each society or branch, but has
also prescribed in what manner any neglect or refusal of an arbi-
trator to act shall be remedied, and how the arbitration shall be pro-
ceeded with.
If it shall be provided by the rules of such society or branch
that disputes which may arise between any member thereof and the
trustees, committee, or officers, on the part of the society, shall be
settled by arbitration, the number of arbitrators and mode of election
shall be stated in the rules.
And in case any of such arbitrators shall at any time neglect or
refuse to act, the members of such society or branch at a general
meeting, or general committee thereof, are hereby required forthwith
to elect and appoint some other person to be an arbitrator in his
place.
And the rules shall direct in what manner such arbitrators, or any
of them, shall proceed to determine such disputes; and the award
so made by them, or so many as may be appointed for the purpose,
according to the rules, shall be final and binding on all parties
without appeal, and shall not be removed to any Court of Law or
Equity.
And if either of the said parties shall refuse or neglect to comply
with or conform to the decision of the said arbitrators, or the major
part of them, it shall and may be lawful for any one justice of the
peace for the county within which such society shall be established,
upon good and sufficient proof being adduced before him of such
award having been made, and of the refusal of the party to comply
therewith, upon complaint made by or on behalf of the party
aggrieved, to summon the person against whom such complaint shall
42
REGISTRATION OF FRIENDLY SOCIETIES.
be made to appear at a time and place to be named in such summons;
and upon his or her appearance, or in default thereof, upon due proof
upon oath of the service of such summons, to make such order there-
upon as may to him seem just.
And if the sum of money awarded, together with the sum for
costs, not exceeding the sum of ten shillings, as to such justice shall
seem meet, shall not be immediately paid, then such justice shall, by
warrant under his hand, cause such sum and costs as aforesaid to be
levied by distress, or by distress and sale of the monies, goods, chat-
tels, securities, and effects belonging to the said party, or to the said
society, together with all further costs and charges attending such
distress and sale, or other legal proceedings, returning the overplus
(if any) to the said party, or to the said society, or to one of the
trustees thereof.
And in default of such distress being found, or in case of such
other legal proceeding being ineffectual, then to be levied by distress
and sale of the proper goods of the said party, or of the officer of the
said society, so neglecting or refusing as aforesaid, together with
such further costs and charges as aforesaid, returning the overplus
(if any) to the owner.
Provided always, that whatever sums shall be paid by any such
officer so levied on his or her property or goods in pursuance of the
award of arbitrators, or order of any justice, shall be repaid, with all
damages accruing to him or her, by and out of the monies belonging
to such society, or out of the first monies which shall be thereafter
received by such society (§ 23).
27. Settlement of Disputes by Justices.
The Act prescribes that where disputes arising in a society are
agreed to be settled by arbitration, but wherein a failure to appoint
arbitrators shall take place, or where no award shall have been
made within the prescribed time, it shall be lawful for two justices
to decide the matter at issue.
If the rules of any such Friendly Society or branch shall have
provided for the settlement of disputes by arbitration, but no arbi-
trator shall have been appointed, or no award shall have been made
within forty days after such complaint has been made to the officers
of such society or branch, or if the rules shall have directed that
any dispute between the members and the trustees or other officer on
the committee of management shall be settled by justices of the
POWERS, PRIVILEGES, AND LIABILITIES.
43
peace, then it shall be lawful for any justice of the peace acting in
the county or borough in which the principal business of the society
or branch is carried on, on complaint being made to him by any
member or person claiming under a member thereof, of any matter
in dispute between him and such society or branch, to summon the
person against whom such complaint shall be made to appear at a
time and place to be named in such summons.
And upon his appearance, or in default thereof, upon due proof
on oath of the service of such summons, it shall be lawful for
any two justices to proceed to hear and determine the said complaint.
And in case the said justices shall order any sum of money to be
paid by such person against whom such complaint shall be made,
and such person shall not pay the same to the person and at the
time specified by such justices, they shall proceed to enforce their
order in the manner hereinbefore directed to be used in case of any
neglect to comply with the decision of the arbitrators appointed
under the authority of this Act (§ 24).
28. Re-instatement, or Compensation to Member.
In case any member of any such society or branch shall have been
expelled from such society, and the award of the arbitrators or the
order of the justices shall direct that he or she shall be re-instated, it
shall be lawful for such arbitrators to award or justices to order, in
default of such re-instatement, such a sum of money to be paid to
such member by the trustees of such society as to such arbitrators
or justices may seem just and reasonable, which said sum of money,
if not paid, shall be recoverable from the said society or branch, or
the treasurer, trustee, or other officer, in the same way as any money
awarded by arbitrators is recoverable under this Act (§ 25).
29. Evidence.
On the trial of any action, indictment, or other proceeding re-
specting the property of any society established under the provisions
of this Act, or in any proceedings before any justice of the peace,
Judge of the County Court, or the Registrar, any member of such
society shall be a competent witness, and shall not be objected to on
account of any interest he may have as such member in the result
of such action, indictment, or other proceeding (§ 32).
All rules, alteration of rules, transcript or copy of or extracts
from all rules and alteration of rules, and all awards, writings, and
44
REGISTRATION OF FRIENDLY SOCIETIES.
documents, of what nature or kind soever, relating to any society or
branch, directed by any Act or Acts of Parliament to be certified
by the Registrar, and purporting to be signed by him, shall, in the
absence of any evidence to the contrary, be received in all Courts of
Law and Equity, and elsewhere, without proof of the signature
thereto (§ 35).
30. Exemption from Stamp Duty.
Except as hereinafter provided, no order of the Registrar, or copy
of rules, power, warrant, or letter of attorney granted by any person
as trustee of any society or branch established under this Act, for
the transfer of any share in the public funds standing in the name of
such trustee, nor any receipt for money contributed to the funds of
any such society or branch, or received by any member, his execu-
tors, administrators, assigns, or attornies, from the funds of such
society, nor any bond to be given to or on account of any such society
or branch, or by the treasurer or trustee or any officer thereof, nor
any draft or order, nor any form of policy, nor any appointment of
any agent, nor any certificate or other instrument for any revocation
of any such appointment, nor any other document whatever required
or authorized by or in pursuance of this Act, shall be subject or
liable to or charged with any stamp duty (§ 39).
That nothing in the said Acts now in force relating to Friendly
Societies shall be construed to extend to grant any exemption from
stamp duty to any Friendly Society enrolled or certified under the
said Acts, which shall after the passing of this Act assure the pay-
ment to or on the death of any member, or on any contingency, or
for any purpose to which the payment of sums may be assured
under this Act, of a sum exceeding one hundred pounds, or of any
annuity exceeding thirty pounds per annum, or of a sum in sickness
exceeding twenty shillings per week (§ 45).
31. Dissolution of Society.
The Act prescribes the mode by which alone every society esta-
blished under its provisions can be dissolved, and its affairs be
brought to a close.
It shall not be lawful for the members of any such society or
branch, by any rule, or order, or resolution, to dissolve or determine
such society or branch, so long as the intents or purposes declared
by the rules of such society, or any of them, remain to be carried
POWERS, PRIVILEGES, AND LIABILITIES.
45
into effect, without obtaining the votes of consent of five-sixths in
value of the then existing members, to be ascertained in manner
hereinafter mentioned, and also the consent of all persons then re-
ceiving or then entitled to receive relief either on account of sickness,
age, or infirmity, to be testified under their hands individually and
respectively.
And for the purpose of ascertaining the votes of such five-sixths
in value, every member shall be entitled to one vote, and an addi-
tional vote for every five years that he may have been a member;
provided also, that no one member shall have more than five votes
in the whole.
And in all cases of dissolution, the intended appropriation or divi-
sion of the funds or other property shall be fairly and distinctly
stated in the proposed plan of dissolution prior to such consent being
given.
And it shall not be lawful for such society or branch by any rule
to direct the division or distribution of such stock or fund, or any
part thereof, to or amongst the several members of such society,
other than for carrying into effect the general intents and purposes
declared by the rules originally certified.
And all such rules for the dissolution or determination thereof
without such consent as aforesaid, or for the distribution or division.
of the stock or funds contrary to the rules, shall be void and of none
effect.
And in the event of such division or mis-appropriation of the
funds, without the consent hereby declared to be requisite, any
trustee or other officer or person aiding or abetting therein shall
be liable to the like penalties as are in this Act provided in cases of
fraud.
Provided always, that it shall be lawful for any two or more
societies or branches to become united or incorporated in one society
or branch, upon such terms as shall be approved by the major part
of the trustees and board of management of both societies or branches
(§ 34).
32. Statutes Repealed.
The statutes which are by this Act repealed, except as regards
societies established under any of them, are the Acts 10 Geo. 4,
c. 56; 2 & 3 Will. 4, c. 37; 4 & 5 Will. 4, c. 40; 3 & 4 Vict. c. 73;
and 9 & 10 Vict. c. 27.
46
CHAPTER IV.
AS TO THE CERTIFICATION, AND THE PROVISIONS NECESSARY TO
BE INSERTED IN THE RULES OF A FRIENDLY SOCIETY.
THE Act 13 & 14 Vict. c. 115, now in force relating to Friendly
Societies, has not only prescribed that every society established
under its provisions shall be governed by a code of rules to be agreed
upon at its commencement by the members, but that the rules shall
be certified in a particular manner by the Registrar of Friendly
Societies, and by an Actuary of a given standing in his profession;
and that the rules shall contain certain provisions as to the conduct
and business of the society, its officers, and members, the nature of
which provisions are defined by the Act.
There are also other provisions necessary to be inserted in the
rules of every Friendly Society, which are not rendered imperative
by the Act, but without which its constitution and government
would be incomplete. These chiefly relate to the meetings of mem-
⚫bers, and to the powers and duties of officers, and such as usually are
to be inserted in Deeds of Settlement of Assurance Societies esta-
blished under the Joint-Stock Companies' Registration Act which
are equally applicable to the rules of Friendly Assurance Societies
established under this Act. We shall purposely confine our obser-
vations to the provisions which the statute has expressly declared
to be indispensably necessary to be inserted therein.* The want
of any further information upon these and other provisions will be
to a great extent compensated for in the Precedent of Rules, which
immediately follows:-
1. Provisions to be Contained in Rules.
*
The Statute enacts-It shall be lawful for the persons intending
to establish, under the provisions of this Act, a Friendly Society, or
branch thereof, to make or adopt rules for the government and
guidance of the same, and to make such provision in the rules as they
shall think fit, for ordaining, repealing, altering, or amending any
*For remarks as to the provisions of Deeds of Settlement, see "Practical
application of the Joint-Stock Companies' Acts to the Registration and Govern-
ment of Assurance Societies, by J. H. James." London: Simpkin, Marshall,
and Co., 1851.
CERTIFICATION AND PROVISIONS OF RULES.
47
rules, and to impose reasonable fines and forfeitures on any member
offending against the regulations of the same, and to form a general
committee or board of management, and to delegate to the same all
or any of the powers given by this Act, to be executed either with
respect to the management of the society or branch, or the enact-
ment, amendment, repeal, or alteration of the rules thereof; and in
such rules there shall distinctly be set forth,-
1. The name and designation of such society or branch, and the
place where the business thereof is carried on, the whole of the objects
and intentions for which it is founded, the whole of the purposes to
which the funds thereof are applicable according to the rules and
tables thereof, and the conditions under which any member, or party
claiming under or by a member, may become entitled to any benefit
assured thereby:
2. The manner of making, repealing, or altering rules, of appoint-
ing trustees, a treasurer, and an officer who shall keep the books
and accounts, and prepare the Returns required by this Act, a
general board or committee of management, and the duties and
powers of each :
3. The mode in which the funds shall be invested:
4. The manner in which disputes between the society or branch,
and any member thereof, or person claiming on account or through
any member, shall be settled (§ 4).
It is also further enacted,-That if it shall be provided by the
rules of such society or branch that disputes which may arise
between any member thereof and the trustees, committee, or officers
on the part of the society, shall be settled by arbitration,-
5. The number of arbitrators and mode of election must be stated
in the rules;
6. And the rules shall direct in what manner such arbitrators, or
any of them, shall proceed to determine such disputes (§ 23).
7. Provided always, and be it enacted, that the rules of every
such society or branch shall provide that all monies received or paid
on account of each and every particular fund or benefit assured to
the members thereof, their husbands, wives, children, or kindred,
for which a separate table of contributions payable shall have been
adopted, shall be entered in a separate account distinct from the
monies received and paid on account of any benefit or fund (§ 5).
48
REGISTRATION OF FRIENDLY SOCIETIES.
$
2. Certification of Rules.
The Statute enacts, with a view to having the Rules framed
according to law, and to the rules and tables being rendered con-
sistent with each other, and suitable in every respect for the purposes
of the society:
That two printed or written copies of all rules and tables adopted
by such society or branch, together with the name and residence of
every trustee thereof, signed by three members, and countersigned
by the clerk, or steward, or other officer, with all convenient speed
after the same shall be made, altered, or amended, and so from time
to time after every making, altering, or amending thereof, shall be
transmitted to the Registrar of Friendly Societies in England,
Scotland, or Ireland, as the case may be; and so soon as the said
Registrar shall find the said rules to be framed in conformity with
law, and that no rule, or part thereof, is repugnant to another, and
that the same are reasonable and proper, he shall register the same;
And if such rules and tables have been certified under the hand
of the Actuary to the Commissioners for Reduction of the National
Debt, or by some other Actuary who shall have been for more than
five years an actuary of some Life Assurance Company established in
London, Edinburgh, or Dublin, in the form set forth in Schedule
(C) to this Act annexed, and signed by him at the foot both of the
rules and tables, or shall have been furnished to such society or
branch by the Registrar, the Registrar shall give a Certificate in the
form set forth in Schedule (B) to this Act annexed, and such society
or branch shall be denominated Certified Friendly Society;
But if such rules and tables shall not have been so certified by an
Actuary as above mentioned, then in such case the Registrar shall
give a certificate in the form set forth in Schedule (A) to this Act
annexed, and such society or branch shall be denominated Registered
Friendly Society;
And the Registrar shall return one of the copies to the society or
branch, and shall keep the other in such manner as shall be from
time to time directed by one of Her Majesty's principal Secretaries
of State;
And all rules, alterations, or amendments thereof, when certified
as aforesaid, shall be binding on the several members, and all
persons claiming by or under them (§ 7).
CERTIFICATION AND PROVISIONS OF RULES.
49
3. Name and Designation of Society.
The name and designation of the society stated in the rules
should be that, by which it is intended that the society should bẽ
generally, indeed only, known; under which all its operations should
be conducted; and which name and designation should be affixed to
all and every the prospectuses, forms, contracts, and documents of
the society.
The name or designation of the branch should invariably bear
the name and designation of the parent society, with such other title
or addition thereto as will distinguish the branches of one and the
same society from each other. Thus, suppose the name and desig-
nation of the parent society be "The Metropolitan Friendly Assu-
rance Society," the name or designation of a branch of it may be
"The Northern Branch of the Metropolitan Friendly Assurance
Society."
4. Place of Business.
The place or office of business of the society should be fully and
clearly described, giving the name or number of the house or office,
and the street, square, court, or other place in which it is situate.
The name, also, of the parish, ward, hamlet or township, city,
borough, or county, should be added.
Power should be given in the rules to the directors to remove, if
necessary, the office or place of business to some other place within
the city, borough, or county within which the society was originally
established.
5. Objects, Intentions, and Purposes.
The rules of every society must distinctly set forth the whole of the
objects and intentions for which it is founded, and the whole of the
purposes to which the funds thereof are applicable according to the
rules and tables of the society. No other objects, intentions, and
purposes than those named in the rules can be legally carried out by
any society established under the provisions of the Act; care should,
therefore, be taken, that all the intentions, purposes, and objects,
contemplated by the society, should be included in the rule which is
intended to specify the same. To this rule also should be attached
the provision (part of section 2 of the Act), which limits the
benefits or assurances to be granted by the society to a given
amount; beyond which amount no benefit or assurance can be legally
granted by any society established under the Act: and also that
E
50
REGISTRATION OF FRIENDLY SOCIETIES.
portion of the third section of the Act, which limits the amount, and
prescribes the mode of payment, of a sum on the death of a child
under ten years of age, and that a certificate shall be taken on pay-
ment of a sum upon the death of every person entitled to a benefit
or assurance.
6. Conditions of Benefits or Assurances.
The Act prescribes that in the rules of every society shall be set
forth the conditions under which any member may become entitled
to any benefit assured thereby.
Some difficulty, however, would appear to arise from the many
kinds and varied characters of the benefits and assurances which a
society may grant, in literal compliance with the requirement of the
A ct. The conditions suitable to different kinds of assurances
differ so much from each other, that it is next to impossible to
embody, in a code of rules, all the conditions necessary for the
several purposes it intends to carry out. The object of the Act, in
its spirit, appears to be the requiring that the conditions of the
various benefits or assurances should not only be specific, but be in
strict accordance with, and not repugnant to, the provisions of the Act,
and made patent to the members subscribing for the same. If our view
be correct, we suggest that a rule of the society, which prescribes
that the conditions of every assurance or benefit granted by the
society shall be in strict accordance with the provisions of the
Act, and be endorsed on the policy or instrument under which
it is respectively granted, and that the members interested in such
benefit or assurance should be alone bound by such conditions, and
so endorsed upon the policy or instrument of assurance, would be a
compliance with the Act.
7. Appointment of Trustees, Treasurer, Chief Officer, and General
Board, or Committee of Management.
The Act prescribes that the rules of every society shall set forth
the manner of making, repealing, or altering rules, of appointing
trustees, a treasurer, and an officer who shall keep the books and
accounts and prepare the Returns required by the Act, a general
board or committee of management, and the duties and powers of each.
The framing of such rules orginally as are intended to apply to
the particular officers above named, like all other rules affecting the
general management of a society, usually rests with the promoters of
CERTIFICATION AND PROVISIONS OF RULES.
51
a society, and those other persons who agree with the promoters to
become directors, and so constitute themselves into a general board
or committee of management. These rules, it will have been seen,
must be certified by the Registrar of Friendly Societies before the
society can be legally constituted. All the several officers before
mentioned are generally appointed in the original rules, which
rules must define how all future appointments are to be made, and
the duties and powers of each officer so appointed, and to be there-
after appointed.
The nature of these rules may be sufficiently exemplified by
stating-
That the trustees are usually appointed for life, or during the
pleasure of the society; their removal and re-appointment vesting
either in the general body of members, or in the board of directors.
The Act does not state whether it is necessary or not that the
trustees should be members of the society, or be members of the
board of directors. It is, therefore, left entirely to the society to
declare its intention in this respect in the rules.
The treasurer in like manner may be appointed during pleasure,
or from year to year, and may very properly, by virtue of his
office, be a trustee, and a member of the board of directors, without
being a member of the society.
Prudence, indeed, would dictate that the offices of trustees and
treasurer in a society, where the savings of many industrious per-
sons are invested, should be held by gentlemen of good social posi-
tion, and habits of business, whose influence and respectability may
give a character to the institution, and be a guarantee to the mem-
bers for its efficient management.
The appointment of a person to be Chief Officer, under the style of
Manager, Secretary, or Steward, whose duty it is to keep the books
and accounts and prepare the Returns required by the Act, may
very properly be declared originally in the rules, who may continue
to hold office during good conduct, or be subject to removal by the
general body of members, or the board of directors, or be subject to
re-appointment every year.
Beyond the declaration in the Act that the rules must provide
for the appointment, duties, and powers of such officer, and for the
making, altering, or repealing such rules, it appears that it is com-
petent to a society to adopt whatever course with respect to this
officer which it may deem fit.
E 2
52
REGISTRATION OF FRIENDLY SOCIETIES.
As to a general board, or committee of management, every society
appears to be capable of making its own regulations, provided they
are distinctly set forth in the rules, which must also define the duties
and powers of such general board, or committee of management.
The general board, or committee of management, may very pro-
perly consist of a certain number of directors, chosen from the mem-
bers holding assurances in their own rights to a given amount, and
of the trustees and treasurer. The whole, or a portion, of the
directors elected from the members to retire from office every year,
and to be eligible immediately, or otherwise, for re-election.
The rules relating to the general committee, or board of manage-
ment, should prescribe their powers and duties, general and
special, and the time and manner of holding their meetings for the
dispatch of business; which meetings, according to the extent of the
society, and the nature of its operations, should be sufficiently fre-
quent to allow of the efficient conduct of its affairs.
8. Investment of Funds.
The Act requires that the rules of every society must distinctly
set forth the mode in which the funds shall be invested.
The nature of the securities upon which the funds can only be in-
vested being defined by the Act, as also that they must be invested
in the names of the trustees, it remains only for the rules to point
out the mode and under what circumstances they shall be invested;
when and by whose authority, as in all cases the consent of the
society, which is presumed may be given through the general board,
or committee of management, is necessary to be obtained, before the
trustees can legally proceed to lay out any of the society's funds.
9. Settlement of Disputes.
The Act requires that the rules shall distinctly set forth the
manner in which disputes between the society or branch, and any
member thereof, or person claiming on account or through any
member, shall be settled.
The mode by which institutions established for assurance, or for
other purposes of a provident character, usually arrange all matters
in difference between such institutions and their members, is by
Arbitration, or by an appeal to the opinion of indifferent parties,
one of whom is chosen by each of the parties interested in the
question at issue.
CERTIFICATION AND PROVISIONS OF RULES.
53
It is left open to societies to adopt this or any other kind of
appeal; but it is evident by the provisions which the Act has
made, in case it is determined to abide by arbitration, that such
recourse is favourably looked upon by the legislature.
Assuming, therefore, that arbitration is the alternative to be
adopted in all cases of dispute, the same must be specially prescribed
in the rule or rules relating to the settlement of differences between
the society and its members, or any one claiming through him, ber,
or them respectively; the number of arbitrators and mode of
election must likewise be stated in the rules; and the rules must
also direct in what manner such arbitrators, or any of them, shall
proceed to determine such disputes.
As to the election of arbitrators, and their number, it is requisite
to declare in the rules, that at the first general meeting after
the certification thereof, the members present shall proceed to
nominate five persons as arbitrators, all of them being in no way
interested as members in the funds or property of the society. And
the Act provides, that in case any of such arbitrators shall at any
time neglect or refuse to act, the members of such society or
branch, at a general meeting, or a general committee thereof, are
thereby required forthwith to elect or appoint some other person to
be an arbitrator in his place.
As to the mode of proceeding, it is usual for the party aggrieved
to choose by lot three out of the five arbitrators, to whom the matter
in question is referred for ultimate decision; and it is enacted,
"that the award so made by them, or so many as may be appointed
for the purpose according to the rules, shall be final and binding on
all parties, without appeal to any Court of Law or Equity."
The rule intended to apply to arbitration should embrace all the
points laid down by the Act, and such other powers as are necessary
to the arbitrators to award costs, and enforce their decision; and in
all cases to provide that the arbitrators shall be appointed and the
case referred, and, if possible, the award made within forty days
after the complaint has been made to the officers of the society or
branch. Inasmuch, also, as there is no appeal against the award of
arbitrators appointed and acting under the rules, great care should
be taken by the society in the selection of fit and proper persons to
fill the responsible office of arbitrators,-individuals who combine the
necessary qualifications of ability to discern, and impartiality to
carry out, the duty entrusted to them.
54
"REGISTRATION OF FRIENDLY SOCIETIES.
10. Separation of Accounts.
It is also enacted, that the rules of every society or branch shall
provide that all monies received or paid on account of each and
every particular fund or benefit assured to the members thereof,
their husbands, wives, children, or kindred, for which a separate
table of contributions payable shall have been adopted, shall be
entered in a separate account, distinct from the monies received and
paid on account of any other benefit or fund.
This provision is evidently directed to the purpose, and a very
proper one, of keeping separate the several departments of the
affairs of a society, so that not only the funds, and the receipts and
payments of each particular contingency, may be distinguished from
each other; but that the profit and loss, the amount of casualty,
and rate of sickness or mortality experienced by the society, may at
any and all times, be promptly and easily ascertained.
11. Making, Alteration, and Repeal of Rules.
The manner of making, repealing, or altering rules, of appointing
the several officers, and the apportioning the duties and powers of each,
which is required by the Act to be expressed in the rules of every
society, as well as for the making, repealing, or altering any other
rules affecting the conduct and property of the society, or the
members thereof, may be advantageously effected by a single rule,
which may declare one and the same mode of making, repealing, or
altering rules, to be applicable in all cases; or which may prescribe a
particular mode for the rules as to officers, and another for the rules
affecting the ordinary conduct and affairs of the society.
12. Definite Character of Rules.
Whatever be the intention of the society, at least in respect to the
rules which are rendered necessary to be framed under the provisions
of the Act—and the same principle will be found most highly bene-
ficial in all other instances-it is necessary to observe, that the
intention of the society should be fully and distinctly set forth in
each rule, and that nothing should be left out which is requisite to
define the precise meaning of the proposed law; or which, if
omitted, would weaken or annul its intended effect.
Where also the manner of doing anything is required to be defined,
the machinery of the law must be effective and complete.
55
CHAPTER V.
PRECEDENT OF RULES FOR A FRIENDLY SOCIETY, ESTABLISHED
UNDER THE ACT 13 & 14 VICT. C. 115.
Whereas it hath been agreed by and between the several parties
hereinafter named, as trustees and directors thereof, that a society
shall be formed under the Act 13 & 14 Vict. c. 115, and that the
government of the said society shall be under and subject to the
following rules and regulations; that is to say-
1. Name.
The society shall be called "The [Metropolitan] Friendly Assur-
ance Society," and shall continue a society under that name, until
the said society shall be dissolved under the provisions hereinafter
for that purpose contained.
2. Place of Business.
That the present house or office of the society,
shall, until some other house or office be provided for that purpose,
under the power in that behalf hereinafter contained, remain and be
the chief office or place for carrying on the business of the society;
and throughout these presents the expression house or office of the
society shall mean the said house or office, situate at
aforesaid, or such other house, or office, as shall for the time being
be so provided as aforesaid, which said house or office for the time
being shall be held in trust for the said society.
3. Objects of the Society.
That the business and purpose of the society shall be to raise, by
voluntary subscriptions of the members thereof, a fund for any of the
following objects; that is to say-
1. For insuring a sum of money to be paid, on the death of a
member, to the widower or widow of a member, as the case may be,
or to the child, or to the executors, administrators, or assigns of
such member, or for defraying the expense of the burial of a
member, or of the husband, wife, child, or kindred of a member;
subject always to the restrictions hereinafter enacted in that behalf.
2. For the relief, maintenance, or endowment of themembers,
their husbands, wives, children, or kindred, in infancy, old age,
sickness, widowhood, or any other natural state of which the proba-
bility may be calculated by way of average.
That the objects comprised in the two foregoing rules shall be
denominated "The Life Department" of the society.
56
PRECEDENT OF RULES
3. For insuring or making good any loss or damage of live or
dead stock, goods, or stock in trade, implements and tools, sustained
by any member by fire, flood, shipwreck, or any contingency of
which the probability may be calculated by way of average.
That the objects comprised in this rule shall be denominated
"The Fire Department" of the society.
4. For the frugal investment by shares of the savings of the
members for better enabling them to purchase food, firing, clothes,
or other necessaries, or the tools, implements, or materials of their
trade or calling, or to provide for the education of their children or
kindred; provided that such investment shares shall not be trans-
ferable, but that the same shall accumulate or be employed for the
sole benefit of the member investing, or of the husband, wife, children,
or kindred of such member, and that no part thereof shall be appro-
priated to the relief, maintenance, or endowment of
any other
person whatsoever, and that the whole amount of the balance due on
such investment shares shall be paid according to the rules or condi-
tions of the society in that behalf made by the society, and endorsed
upon the certificate, policy, or other instrument of assurance of such
investment, share, or shares, to such member or members on with-
drawing from the society.
5. For the purpose of enabling by shares any member, or the
husband, wife, or children, or nominee of such member, to emigrate.
That the objects comprised in the two foregoing rules shall be
denominated "The Investment Department" of the society.
6. That the trustees or treasurer for the time being, by and with
the consent in writing of the board of directors of the society, or any
branch of the society, to which the funds may severally pertain or
belong, may and shall lay out and invest such part of all sums of
money of the society, or of any branch thereof, as shall at any time
be collected, given, or paid to and for the purposes of the society, or
any branch thereof, as may not be wanted for the immediate use
thereof, or to meet the usual accruing liabilities of the society or
branch, in the names of such trustees, with the Commissioners for
the Reduction of the National Debt, in any savings' bank, subject
to the provisions of the Acts in force relating to the same, or in any
of the Parliamentary stocks or public funds of Great Britain or
Ireland, or at interest upon Government securities, or in Bank of
England Stock, or in the Stock or securities of the Honourable
East-India Company, or on mortgage of freehold, leasehold, or
copyhold property, such leasehold being for a term of years absolute,
of which not less than thirty years shall be unexpired, and such
copyhold being copyhold of inheritance in Great Britain or Ireland,
or on security of any heritable property, or in any chartered or other
public Joint-Stock Bank in Scotland, or in or upon the security of
any county or borough rates, authorized to be levied and mortgaged
by any Act of Parliament, or on loan to any member of the society,
or any branch thereof, on the security of any policy of assurance
FOR A FRIENDLY SOCIETY.
57
effected on his own life, provided that the amount of such loan shall
not exceed the actual estimated value of such policy at the time such
loan be made.
That the objects comprised in this rule be denominated "The
Loan Department" of the society.*
4. Limitation of Objects.
Provided always, that it shall not be lawful for the society, or
any branch thereof, to assure the payment to or on the death of any
member, or on any contingency, or for any of the purposes for which
the payment of sums may be assured by the society, under the Act
13 & 14 Vict. c. 115, of any sum exceeding one hundred pounds,
nor any annuity exceeding thirty pounds per annum, nor a sum in
sickness exceeding twenty shillings per week.
5. Assurances to Children, Receipts, and Certificates on Payments
at Death.
Provided always, that it shall not be lawful for the society, or
any branch thereof, or the trustees or other officers thereof, to assure
a sum of money to be paid on the death of a child, whether a member
of the society or not, under the age of ten years, except the actual
funeral expenses, not exceeding three pounds in the case of a child,
to be paid to the undertaker or person by whom the burial is con-
ducted, and whose receipt alone shall be sufficient discharge to the
society; nor to pay any sum of money which may have been insured
and become payable on the death of any member thereof, or of the
husband, wife, or child of any member, unless the party applying for
the same shall produce and deliver to the officer a certificate, signed
by a physician, surgeon, apothecary, or coroner, in the form (A)
set forth in the schedule to these rules annexed, except in cases
where from the nature of the circumstances it is impossible to procure
such certificate.
6. Non-Allowance of Payment to Nominees.
Provided always, that it shall not be lawful for the society, or any
branch thereof, to grant any assurance whereby the assurance on the
death of the member shall be payable to any nominee, or to any
other person than the widower or widow of a member, as the case
may be, or the child, or the executors, administrators, or assigns of
such member; or in case the member shall die intestate, and the sum
payable on his death shall not exceed £50, to the person whom the
* It is enacted by the 6th clause of the 2nd section of the Act 13 & 14 Vict.
c. 115, that societies may also, in addition to the purposes or objects here
enumerated, be established "for any purpose which shall be certified to be legal
in England or Ireland by Her Majesty's Attorney-General, or in Scotland by
the Lord Advocate, as a purpose to which the powers and facilities of this Act
ought to be extended. If therefore any other such purposes be contemplated to
be effected by a society, the same must be mentioned in a tabular form, and the
requisite regulations in respect thereto supplied in the rules of the society.
·
58t
PRECEDENT OF RULES
trustee shall consider entitled to the goods and effects of the member
so dying intestate.
7. Declaration by Members.
If any person shall become a member of this society, or of any
branch thereof, or of more than one society or branch, and thereby
be in any case entitled to certain benefits on account of the same
kind of assurance from more than one society or branch, it shall not
be lawful for him to claim or receive such benefit from the society,
or any
branch thereof, or from any other society or branch thereof,
without signing a declaration that the joint value, or amount of all
the benefits in any one kind of assurance to which he may be entitled
from this or any other society or societies, branch or branches, of
which he may be a member, does not in the aggregate exceed the
amount of one hundred pounds in one sum, or an annuity of thirty
pounds per annum, or a sum in sickness of twenty shillings per
week; and in case such declaration shall not be true, such member
shall be liable to the penalties enacted by the statute 13 & 14 Vict.
c. 115, in case of fraud, and shall furthermore forfeit all his right,
title, or interest to and in any benefit, assurance, share, or sum of
money whatever previously granted or assured to him by this society,
or any branch thereof.
8. Rates and Tables of Assurances.
That the several shares, benefits, assurances, annuities, and other
interests to be granted in and by the society, or any branch thereof,
shall be alone granted upon and according to the rates or tables of
premium or contribution comprised in the schedule to these rules
annexed, or such other rates or tables of premium or contribution as
may be hereafter at any time adopted by the directors for the time
being of the society, or of any branch thereof, provided such rates
or tables of premium or contribution be duly certified and registered
in the manner prescribed by the Act 13 & 14 Vict. c. 115, and
subject to the several conditions of assurance as shall be respectively
endorsed upon the certificate, policy, or other instrument of assurance
of such shares, benefits, assurances, annuities, and other interests
so granted in or by the said society, or any branch thereof: provided
always, that the said conditions of assurance shall not be repugnant
to or at variance with the provisions of the said recited Act of Par-
liament, or any of them.
9. Separate Accounts.
Provided always, that all monies received or paid by and to the
society, or any branch thereof, on account of each and every parti-
cular fund or benefit assured to the members thereof, their husbands,
wives, children, or kindred, for which a separate table of contribu-
tions payable shall have been adopted, shall be entered in a separate
account, distinct from the monies received and paid on account of
any other benefit or fund.
FOR A FRIENDLY SOCIETY.
59
10. Members.
That any person holding or subscribing for any share, benefit,
annuity, assurance, or any interest whatever in this society, or any
branch thereof, up to and until the time whereat such share, benefit,
annuity, assurance, or interest shall have been fully paid or dis-
charged to such person, unless such share, benefit, annuity, assurance,
or interest shall have become forfeited to the society, or any branch
thereof, under or by virtue of any rule relating thereto, and endorsed
upon the certificate, policy, or other instrument of assurance of such
share, benefit, annuity, assurance, or interest, shall be deemed to be,
and shall be, a member of the society, or of the branch thereof, to the
funds of which he shall be a contributor, and as such be entitled to
attend all general meetings of the society, or of the branch thereof,
of which he shall be a member, and, subject to the rules in that behalf
hereinafter provided, to vote at such general meetings, and otherwise
to enjoy such other rights and privileges of membership as he shall
therein be declared entitled to.
But females and minors (during their minority) shall not be
eligible to hold any office in the society, or in any branch thereof;
nor shall minors, during their minority, be entitled to vote on any
question, nor to receive any loan from the society, or any
branch
thereof.
Every member shall, on admission, pay sixpence for a copy of
these rules, and such further but reasonable sum for any form, cer-
tificate, or document in the use of the society as may from time to
time be fixed by the directors.
Every member shall be entitled to receive from the society, or any
branch thereof to which he may belong, upon payment of sixpence
each, a copy of the general statement of the funds and effects thereof
required to be made yearly to the Registrar of Friendly Societies
by the 13 & 14 Vict. c. 115, s. 15.
11. Officers.
That the following officers of the society shall be appointed;
namely, four trustees, at least eight elected directors, a treasurer,
two auditors, two medical officers, a surveyor, five arbitrators, a
consulting actuary, a manager, and a solicitor.
12. Management.
That the affairs and business of the society shall be conducted
and managed by and under the control of a board of directors, to
be appointed in the manner hereafter prescribed.
13. Society Subject to Act of Parliament.
That the affairs and concerns of the society shall be conducted
under and subject to the provisions of the Act 13 & 14 Vict. c. 115,
60
PRECEDENT OF RULES
and to the several rules, regulations, clauses, and agreements here-
inafter contained, that is to say,-
14. Meetings of Directors.
That the directors shall meet at the house or office of the society,
for the despatch of the ordinary business of the society, at least once
in every week, upon such day and at such hour as they shall from
time to time appoint, and at such other times as the affairs of the
society may require.
That the directors shall have power to hold special meetings of
their body, and to adjourn their ordinary and special meetings, as
well as all general and special meetings of the members of the
society, as occasion may require.
That the first meeting of the directors shall take place within the
week next following the day upon which the society shall receive
from the Registrar of Friendly Societies a copy of these rules duly
certified, according to the Act 13 & 14 Vict. c. 115, at which
meeting the directors shall appoint out of their body a chairman and
deputy-chairman for the year; shall cause a general meeting of the
members forthwith to be convened, whereat the members shall appoint
the first auditors and arbitrators of the society; shall fix upon what
day of the week, and at what hour (until the day and hour shall be
altered by the board), the future meetings of the directors shall take
place; and shall transact such other business as the board may think
necessary for the due organization of the business of the society.
That at the first meeting of the directors after each and every
annual general meeting of the members, the directors shall appoint
a chairman and deputy-chairman for the year.
That in the absence of the chairman, the deputy-chairman shall
preside over the meeting of directors; and in case the deputy-
chairman be absent, the directors present shall appoint out of their
-number a chairman for the day.
That no business be transacted at any board meeting, except the
adjournment of such meeting to a future day and hour then to be
fixed by the directors present, unless at least three members of the
board be present within one hour from the time at which the board
meetings are ordinarily appointed to commence business.
15. Business and Close of Meetings.
That no business shall be transacted, or any discussion allowed, in
reference to the business of the society, at any meeting whatever,
either of the directors, or any committee thereof, or at any general
meeting of the members, or at any meeting of a committee thereof,
after the chairman of such meeting shall have declared such meeting
to have been dissolved or adjourned, and shall have left the chair.
That no business other than that ordinarily required to be trans-
acted as the usual business of the day shall be transacted at any
ordinary meeting of the directors, unless a notice of motion thereof
FOR A FRIENDLY SOCIETY.
61
shall have been given at the previous weekly meeting, and be re-
corded in the minutes of such meeting; and no business other than that
ordinarily required to be transacted as the business of the day shall
be transacted at the annual general meeting of members, unless a
notice of motion thereof shall be reduced into writing, specifying
the precise nature and object of such business or motion, and be left
at the house or office of the society, addressed to the manager, not
less than twenty-one days before the day upon which such annual
general meeting of members is fixed to take place; and upon such
notice of motion or business being so made and left as aforesaid, the
directors shall cause the same to be inserted in the circular or adver-
tisement addressed to the members, by which such annual general
meeting of members shall be convened.
That no other business shall be transacted at any extraordinary
general meeting of members besides the business for which it shall
have been called; and no other business shall be transacted at an
adjourned general meeting of the members, either ordinary or
extraordinary, besides the business left unfinished at the general
meeting from which the adjournment took place, or likewise at any
adjourned meeting of directors; and every adjourned general
meeting of members or directors shall be considered a continuation
of the meeting from which the adjournment took place.
16. General Annual Meeting of Members.
That the annual general meeting of the members shall be holden
in the month of [June] in each year, upon a day to be fixed by the
board of directors, at which the directors shall exhibit a general
statement of the funds and effects of the society, or branch, during
the last twelve months, which statement shall be headed "Return
of the Metropolitan Friendly Assurance Society, established at
for the year ending [31st of May, 185 ]," and
shall contain the following heads of information; namely,—
Date of balancing Books in each Year
MEMBERS :-
Number admitted since last Balance
Number died since last Balance
...
:
:
Number withdrawn or expelled
Male
Number of Members at this Date
Female...
Honorary
SICKNESS:
Number of Members Sick in the Male
Year
Weeks and Days of Sickness
Female...
:
62
PRECEDENT OF RULES.
INCOME:-
Donations and Honorary Subscriptions
Entrance Money
Contributions for Sickness
Contributions for Annuities
Contributions for Sums on Death
Contributions for Endowments...
Interest received
Total Income
...
...
...
:
:
:
:
...
Total Capital of Society [here state where the same is
placed]
EXPENDITURE :—
Sick Pay or Allowances
...
...
...
Annuities
Death of
{
Members
Wives
Endowments
Extra Expenses
Total Expenditure
...
...
And such statement shall be attested by two trustees, two elected
directors, the auditors, and treasurer, and countersigned by the
manager of the society.
That the annual general meeting of members shall then proceed
to take into consideration such statement, and pass such resolutions
in relation thereto as the meeting may think fit, and make such
orders and directions for the future as to the affairs and accounts of
the society, as, subject to the provisions of the Act 13 & 14 Vict.
c. 115, and to these presents, may be deemed necessary; and then
to elect such directors, trustees, auditors, and other officers, as are
required by these presents to be made at the annual general
meetings of members, or as may be otherwise necessary to meet
any emergency which may occur to the society.
17. Extraordinary General Meetings of Members.
That an extraordinary general meeting of the members shall be
holden on a requisition to the manager to convene such meeting,
such requisition to be signed by at least five directors, or by ten
ordinary members, which requisition shall state the object for which
such special general meeting is required; ten days' notice at least
of which meeting shall be given to every member, of the hour,
place, and object of such extraordinary general meeting.
That the expenses of all extraordinary general meetings of the
members shall be borne by the members subscribing the requisition,
unless the members determine the importance of the occasion to be
such as to render their payment by the society just and reasonable.
FOR A FRIENDLY SOCIETY.
63
18. Votes.
Every director shall be entitled to one vote at board or committee
meetings of their body on every question. But no director shall be
present during the discussion of, or at the decision of any question
affecting his own interest or conduct.
At all general meetings of members, except upon the discussion of
the question of a dissolution of the society, no member shall have
more than one vote.
No director or member shall be allowed to vote by proxy.
In case of an equality of votes, the chairman of the meetings of
directors, or any committee thereof, or of the general meetings of
members, or of any committees thereof, shall be entitled to an
additional or casting vote.
19. Trustees.
That the trustees shall be ex officio members of the board of direc-
tors, but in no way interested in the funds, effects, or property of
the society, and they shall continue in office during the pleasure
of the members. That in case the trustees first appointed, or any
or either of them, or any future trustee or trustees to be appointed
as hereinafter provided, shall die, or be desirous of resigning, or be
discharged from, or shall become incapable of acting in the trusts in
him or them reposed by these rules, or be guilty of any gross neglect
or improper conduct (of which the members shall be the only
judges), or shall remove from [London] to a distance of more than
ten miles, so that the performance of their duties may become incon-
venient to them, or that if a difficulty of access to them shall impede
the business of the society, or if they shall become bankrupt or
insolvent, the manager shall immediately convene an extraordinary
general meeting of the members, and the members shall hear and
determine thereon, and may thereupon remove such trustee or
trustees, and also appoint a new trustee or trustees in his or their
stead; and as often as any new trustee or trustees shall be elected
or appointed, the trustee or trustees so removed shall cease to be a
trustee or trustees, and shall be incapable to act after such removal,
or after the appointment of a new trustee or trustees shall have
taken place; and the resolution of every such appointment aforesaid
shall be signed in duplicate by the chairman of the meeting of mem-
bers at which such appointment shall be made, by three other mem-
bers, and by the trustee so appointed, and countersigned by the
manager, and the same shall be duly entered on the minutes of such
meeting; and the estates, monies, securities, funds, deeds, papers,
and property of the society shall at once become vested (without
any assignment) in the continuing and newly-appointed trustee or
trustees; or should the trustee or trustees so resigned, incapacitated,
or discharged, be out of the kingdom, or no means of communication
can be had with him or them, then the removal of him or them by a
*
64
PRECEDENT OF RULES
general meeting of the members, and the appointment of a new
trustee or trustees in his or their stead, shall be likewise sufficient to
vest all such estates, monies, securities, funds, deeds, papers, and
property of the society, and all other matters pertaining thereto, in
the continuing and newly-appointed trustee or trustees. That all
deeds, writings, and securities to and from the society, shall be made
and taken in the names of the trustees or trustee for the time being,
and shall be deposited with the bankers of the society, to be appointed
by the board, in a box to be provided by the society. And no
documents whatever shall be removed from such box unless by an
order of the board, signed by at least three members thereof then
present. The manager shall furnish to the trustees an inventory of
the contents of such box, and retain a duplicate thereof for the use
of the directors. In case it shall be necessary or expedient to bring
or defend any action, suit, or prosecution, at law or in equity,
touching or concerning the property or assets, rights or claim of the
society, or touching or concerning the breach or non-performance of
any of the articles, matters, and things herein contained, or of the
conduct of any member or officer of the society, the same shall be
brought or defended by, or in the names or name of the trustees or
trustee for the time being, and he or they shall be indemnified from
all loss or damage to be by him or them sustained in consequence
thereof; but no such proceedings shall be taken or defended until the
approbation of a majority of the directors present at a special
meeting, to be convened for that purpose, shall be first had and
obtained. That the trustees or trustee for the time being shall do no
act in their official capacity but by the written order of the board of
directors, such order to be signed in duplicate by the chairman of
the meeting at which such order is made, and by two other members
of the board who are not trustees, and to be attested by the ma-
nager; and that one of such orders shall be entered in a book to be
-kept for that purpose, in a numerical series; such book to be called
the “Trustees' and Treasurer's Order Book ;" and to which orders
respectively a reference shall be made in the minutes of the meeting
whereat the same are directed to be made.
That the trustees or trustee, or treasurer for the time being, shall,
by and under such order or consent as aforesaid, lay out and invest
such part of all sums of money as shall at any time be collected,
given, or paid to and for the purposes of such society, as may not
be wanted for the immediate use thereof, or to meet the usual accru-
ing liabilities of such society or branch, in the names of such trus-
tees, with the Commissioners for the Reduction of the National Debt,
in any savings' banks, subject to the provisions of the Acts in force
relating to the same, or in any of the Parliamentary stocks or public
funds of Great Britain or Ireland, or at interest upon Government
securities, or in Bank of England stock, or in the stock or securities
of the Honourable East-India Company, or on mortgage of free-
hold, leasehold, or copyhold property, such leasehold being for a
FOR A FRIENDLY SOCIETY.
65
term of years absolute, of which not less than thirty years shall be
unexpired, and such copyhold being copyhold of inheritance in
Great Britain or Ireland, or on security of any heritable property,
or in any chartered or other public joint-stock bank in Scotland, or
in or upon the security of any county or borough rates authorized
to be levied and mortgaged by any Act of Parliament, or on loan to
any member of any such society on the security of any policy of
assurance effected on his own life; provided that the amount of such
loan shall not exceed the actual estimated value of such policy at
the time such loan be made; and from time to time, with such con-
sent as aforesaid, to alter and transfer such securities and funds, and
to make sale thereof respectively and all dividends, interests, and
proceeds which shall from time to time arise from the monies so laid
out or invested as aforesaid shall be brought to account by such
trustees, and shall be applied to and for the use of the society, or any
branch thereof, as may be desired by the board of directors by their
order as aforesaid.
:
That the trustees or trustee, or treasurer for the time being as
aforesaid, shall, by and with the consent or order aforesaid of the
board of directors, purchase, hire, or take upon lease, separately or
together, any room or premises for the purpose of holding therein
the meetings of the society, or any branch thereof, or for the trans-
action thereat of the business relating thereto, and shall hold the
same in trust, in and for the use of the society, or the particular
branch thereof, to the purposes of which such premises shall be
devoted, and shall sell, exchange, let, and demise the same, in whole
or in part, with the consent or order of the board of directors as
aforesaid.
That one of the trustees shall be a justice of the peace residing
in, and acting for (the City of London).*
That the following gentlemen shall be and are hereby appointed the
first and present trustees of the society, namely,
ተ
20. Treasurer.
That the treasurer for the time being of the society shall be a
banker, or the member of some banking firm, or some person holding
a responsible and official situation in a banking-house in the (City of
London), and shall be ex officio a member of the board. That the
"
* It is provided by the Act, in clause 5 of section 2, that where any of the
purposes of a society established under its provisions shall be "for enabling any
member, or the husband, wife, children, or nominee of such member, to emigrate,'
one of the trustees shall be a justice of the peace residing in and acting for the
county, borough, or place in which such society shall be established. It will be
seen that rule 5 provides that the promotion of emigration shall be one of
its purposes, and therefore renders this condition necessary. As, however, for a
general rule, it will be found highly desirable that one or more of the trustees of
every Friendly Society should be in the commission of the peace.
† The name, address, and occupation of each trustee must be inserted at full
length.
F
66
PRECEDENT OF RULES
treasurer shall hold office during the pleasure of the board of direc-
tors; and the future appointment of the treasurer of the society shall
vest in the board of directors.
That all monies received by or on account of the society shall, on
the day of the receipt thereof, be paid in to the joint account of the
treasurer and directors to the credit of the society, at the banking-
house of the treasurer, or at the banking-house in which such trea-
surer shall be officially engaged; and that no monies whatever shall
be drawn out of such account except by cheque made by order of the
directors at a board meeting, such cheque to be signed by at least
three directors then present, and countersigned by the manager; and
that every such order shall be entered in a numerical series in the
Trustees and Treasurer's Order Book, in such and the same manner
as is provided for the entry of the orders of trustees in rule 19 of these
presents.
That the treasurer for the time being shall from time to time, in
such manner as the board of directors shall enjoin, deliver to the
board an account of all the receipts and payments of money had and
made by him on behalf of the society; and shall, upon demand made
in writing by the board, deliver up or pay over to the person who
may be appointed to succeed him in the office of treasurer of the
society, or to such other person as may be named by them, all the
monies, funds, and property remaining unaccounted for or unpaid
by him to the society; and on and from his removal from the
office of treasurer, he shall cease to be a member of the board of
directors.
That
be and is hereby appointed the first and
present treasurer of the society.
21. Payment of Monies.
That all payments on account of the society exceeding £5 shall
be made by cheque, as provided for in the last rule; and that for
payment of current petty expenses, the manager shall from time to
time receive a cheque for £10, which shall duly be renewed on a
proper account of his former payments, to the amount of the last
cheque received by him, being made to, and allowed by, the board
of directors.
22. Board of Directors.
The board shall consist of the trustees, treasurer, and not less than
eight nor more than twelve persons elected from the members duly
qualified in the manner hereafter prescribed.
It shall be lawful for the board, prior to the first annual general
meeting, to increase the number of elected directors, if less than
twelve, to that number, by appointing the requisite number of mem-
bers to be directors; and thereupon the persons so appointed shall
thenceforth be directors of the society in like manner and with the
like powers as if they had been appointed directors by these pre-
sents.
And that if at any time thereafter the board of directors
FOR A FRIENDLY SOCIETY.
67
shall recommend any annual general meeting to increase the then num-
ber of elected directors to any number not exceeding twelve, it shall
be lawful for such annual general meeting so to do, but not otherwise.
That the following persons be and are hereby appointed the first
and present directors.*
23. Qualification of Directors and Auditors.
That no person shall hereafter be capable of being elected a direc-
tor or auditor of the society, unless at the time of his election he shall
be the holder of a policy of assurance with the society, on his own
life, for the whole term thereof, or of an endowment assurance on his
own life, for at least £100, or of a policy or grant of an annuity,
deferred or immediate, from the society, upon his own life, for at least
£10 per annum; or of a policy or grant of an allowance in sickness
from the society in respect of himself, for at least five shillings per
week, and upon or in respect of which assurances, annuities, or
allowances, he shall have made all his due payments for not less than
six calendar months, except directors named in these presents, or
elected pursuant to rule 22, or the first auditors elected pursuant to
rule 14; and if any future director or auditor shall cease to hold in
his own right the particular assurance, annuity, or allowance, deemed
the qualification necessary upon his election, or shall not thereafter
hold an assurance, annuity, or allowance, adequate to it, his office
shall immediately thereupon become vacant.
24. Retirement and Re-election of Directors.
year,
That at every annual general meeting one-third in number of the
directors for the time being of the society, or the nearest number to
one-third, shall go out of office (such number and such directors
being exclusive of the number and persons of the trustees and
treasurer), the members so retiring being chosen by lot in the first
year out of their whole number, and in the second year out of the
number who shall not have previously retired; and in the third
the remaining third part of the whole number of elected directors who
may not have so previously retired shall be the directors then to retire,
and afterwards one-third part of the number of elected directors for
the time being shall retire by rotation; nevertheless, every director so
retiring from office shall be eligible to be re-elected immediately, or
at any future time, and shall, after such re-election, be considered,
with reference to the going out by lot or rotation, as a new director;
and in all cases and for all purposes of lot or rotation in going out of
office as director, any director elected from time to time, in place of
a deceased or resigning director, shall be, and be considered as the
substitute of such director, and shall go out of office as director, either
by lot or in rotation (as the case may be), at the same time and in
the same manner as the person in whose place he shall be substi-
* The name and address of each director must be inserted at full length.
F 2
68
PRECEDENT OF RULES
tuted; and this provision shall be applicable to successive directors,
if there should be several persons elected successively in the place
of any director or of each such director by reason of any casual
vacancy, that is, a vacancy not taking place by lot or in rotation,
according to the regulation for the choice of directors by lot or in ro-
tation, as distinguished from death, resignation, or disqualification.
25. New Directors.
That in each instance the places of the retiring directors shall be
supplied by an equal number of qualified members, to be elected at
the annual general meeting at which such retirement shall take
place, and the persons to supply the places of the directors then re-
tiring from office shall be elected by the members personally pre-
sent; and the persons elected at any such meetings, being neither
removed nor disqualified, nor having resigned, shall continue to be
the directors until others are elected in their stead.
26. Retirement and Re-election of Auditors.
That at every annual general meeting the auditors for the time
being shall go out of office, and two auditors shall thereupon be
newly elected from the members not being directors, to supply the
place of the auditors going out, all of whom shall be qualified as
hereinbefore provided, and that every auditor going out of office
shall be immediately, or at any time or times afterwards, re-eligible,
and the auditors elected at any such general meetings, being neither
removed nor disqualified, nor having resigned, shall continue to be
auditors until others are elected in their stead.
27. Resignation, Death, or Retirement of Directors, or Auditors.
That if any director of the society die or resign, or become dis-
qualified or incompetent to act as a director, or cease to be a director
from any other cause than that of going out of office in rotation, or
by lot as aforesaid, the remaining directors, if they think proper so
to do, may elect in his place some other duly qualified member to be
a director; and the person so elected to fill up any such vacancy, as
mentioned in this rule, shall continue in office as a director until
the next annual general meeting of the society, and no longer, but
shall be eligible to be re-elected immediately, or at any future time;
and at such next annual general meeting, the members personally
present shall elect some duly qualified member to be a director in
the place of such last-mentioned director; and every person who, in
consequence of a casual vacancy, shall be appointed a director of the
society, shall only be a substitute for the person whose place he may
supply, and shall continue in office only for the same period as the
person whose place he may supply would have continued if he had
not vacated his office before the time at which he must necessarily
have gone out of office. And if any auditor of the society die, or
resign, or become disqualified, or incompetent to act as an auditor
FOR A FRIENDLY SOCIETY.
69
prior to any annual general meeting, then the directors shall, if they
think proper so to do, elect in his place some other duly qualified
member to be an auditor; and the person so elected to fill up any
such vacancy, as mentioned in this clause, shall continue in office as
auditor until the next annual general meeting of the society, and no
longer, but shall be eligible to be re-elected immediately, or at any
future time; or the directors shall then convene an extraordinary
general meeting of the members, for the purpose of electing an
auditor in the place of the auditor so dying, resigning, or becoming
disqualified or incompetent to act as an auditor of the society.
28. Retiring Directors and Auditors.
That at every annual general meeting the directors and auditors
going out of office on the day on which such general meeting shall be
held, shall, for all the purposes of such meeting, be considered as direc-
tors and auditors in office, and shall continue to act in their official
capacity until their successors shall be appointed.
29. Resignation of Trustees, Directors, or Auditors.
That any trustee, director, or auditor of the society, may at any
time vacate his office by sending in his resignation in writing to the
board of directors.
30. Bankruptcy of Trustees, Directors, or Auditors.
That if any person, while filling the office of trustee, director, or
auditor of the society, shall cease to hold the required qualification,
or become bankrupt or insolvent, or suspend payment, or com-
promise with his creditors, or take the benefit of any Act for facili-
tating arrangements between debtor and creditor, or be imprisoned
for debt, or assign his effects, or the greater part of them, for the
benefit of his creditors, or be declared a lunatic, his office shall
thereupon become vacant.
31. Candidates for Directors or Auditors.
That previously to the election at any annual general meeting of
the new director or directors, or auditor or auditors, of the society,
the board of directors shall, in the circular letters calling such meet-
ing, give notice that every member, not being a director, intending to
become a candidate for the office of director, and every member
intending to propose, as a candidate for the office of director, any
member not being a director, and every member, not being an
auditor, intending to become a candidate for the office of auditor, and
every member intending to propose as a candidate for the office of
auditor any member not being an auditor, must, by writing under
his hand, to be left at the office of the society, fourteen days at least
previously to such general meeting, signify his intention to become a
candidate, or, as the case may be, give notice of the name and place
of residence of the candidate intended to be proposed by him.
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PRECEDENT OF RULES
32. Election of Directors and Auditors by Ballot.
That all elections of directors and auditors of the society shall be
by show of hands, or by ballot if demanded, to be taken at the
general meetings, and each candidate for those offices shall have the
liberty of nominating a member to act as a scrutineer, and the ballot
for every particular candidate shall be made under the direction of
the scrutineer nominated by that candidate.
33. Decision by Lot, upon Equality of Votes for Directors or
Auditors.
That when and so often as in the election of any director or
directors, or auditor or auditors, there shall be votes for more can-
didates than there shall be vacancies, and if in consequence of any
two or more candidates having an equal number of votes, it cannot
be determined which of those candidates shall supply the vacancy
or vacancies, the person in the chair at the general meeting at which
such election shall take place shall forthwith decide by lot which of
those candidates shall supply the vacancy or vacancies, and the
person or persons in whose favour such decision shall be made shall
be considered duly elected.
34. Notice of Intention to become Candidate for Director or
Auditors.
That no person, unless he shall be a director or auditor going out
of office, shall be eligible to the office of director or auditor, as the
case may be, unless his intention to become a candidate for that
office, or the intention of the member intending to propose him as a
candidate for that office, shall have been signified in writing under
the hand of the candidate, or (as the case may be) of the member
intending to propose the candidate, and be left at the house or office
of the society, fourteen days at least previously to the holding of the
general meeting at which the election is to take place.
35. Directors' Attendance Book.
That at every meeting of the board of directors, the directors who
shall have attended thereat shall sign their names in a book to be
kept for that purpose, and such book shall at all times be open to
the inspection of the members.
36. Removal of Directors and Auditors.
That an extraordinary general meeting, specially called for the
purpose, may remove from his office any director or auditor for the
time being of the society for negligence or misconduct in office, or
any other reasonable cause.
37. Remuneration of Auditors.
That the first and every succeeding annual general meeting shall
appropriate out of the funds of the society for the use of the auditors
FOR A FRIENDLY SOCIETY.
71
of the society for the then past year, any sum which the said meeting
shall think proper as a remuneration for auditing the accounts of the
society; provided, nevertheless, that the remuneration which each
auditor may receive shall not be less than two guineas, nor exceed
the sum of five guineas per annum.
38. Remuneration of Directors and Treasurer.
That the first and every succeeding annual general meeting may
appropriate out of the funds of the society, for the use of the directors
of the society for the then past year, any sum which the said meeting
shall think proper, as a remuneration for their conduct of the busi-
ness of the society; provided, nevertheless, that such remuneration
shall not be less in the aggregate than twenty-five guineas, nor more
than one hundred guineas per annum; and to the treasurer, as a
remuneration for his services, a sum not less than five guineas, nor
more than twenty guineas per annum.
And that the remuneration paid to the board of directors shall
be divided rateably amongst the members thereof, in proportion to
their respective attendances at the meetings of the board.
POWERS OF DIRECTORS.
39. General Management.
That the board of directors shall, subject to the provisions of the
Act 13 & 14 Vict. c. 115, or any Act or Acts of Parliament to be
hereafter passed in relation to Friendly Societies, to the control of
the general meetings of the members, and to these rules, or any
rules to be hereafter made under and by virtue of the provisions
therein contained, or any of them, generally and specially direct and
manage the affairs and business of the society.
40. Appointment and Removal of Officers.
That on the death, resignation, or removal of the present or any
future manager, consulting actuary, medical officers, solicitor and
surveyor, or any or either of them, the directors shall appoint a
successor or successors, and fix the salary or remuneration to be paid
to them respectively. And the directors shall also appoint and keep
in employ such bankers, physicians, surgeons, agents, clerks, officers,
and servants, as the business of the society shall require, and shall
impose on them such duties as the board of directors shall, in their
discretion, think fit, and may remove them, or any of them, at
pleasure, and appoint others in their stead, and may authorize the
manager and agents to employ any servants under them, or any of
them, for carrying on the business of the society, and shall, out of
the funds or property of the society, allow the physicians, surgeons,
agents, clerks, officers, and servants for the time being, so appointed,
72
PRECEDENT OF RULES
such compensation, salaries, or wages, as the board of directors shall
think proper.
41. Common Seal.
That the board of directors shall forthwith cause a common seal
to be made for the society, with such a device as they in their dis-
cretion shall think fit, but so, nevertheless, that the name of the
society be inscribed thereon; and when and so often as a change in
the common seal, for the time being, of the society, and the device
thereof, shall have been determined upon by an extraordinary
meeting of the board specially called for the purpose, shall cause a
new common seal, with the name of the society inscribed thereon, to
be made agreeably to the order of such extraordinary meeting, and
to be substituted for the common seal previously in use, and the
latter to be immediately broken up and destroyed, and shall cause
the common seal, for the time being, to be renewed from time to
time, as occasion shall require; and the board of directors, for the
time being, shall have the custody of the common seal, and the com-
mon seal of the society shall not be used or affixed to any document
or documents of any nature or kind whatever, except under the
authority of the board of directors.
42. Agents.
That the board of directors shall have power, from time to time,
to appoint any person or persons, whether a member or members of
this society or not, to be the accredited agent or agents of the society
in all or any of the cities, towns, and other places in the Prin-
cipality of Wales, and any other part of the United Kingdom,
with or without such powers and authorities to accept proposals for
any benefit, assurance, or annuity, to be issued or granted by the
society, and to negotiate business relative to the objects of the
society as the directors shall think fit to confer upon such agent or
agents, and subject to such conditions and restrictions, and upon
such terms, as the directors shall impose; but every such agent shall
be liable to be suspended or removed from such agency and deprived
of such powers at the discretion of the directors.
43. Local Branches and Local Committees.
That the directors shall also have power, from time to time, to
appoint Local Committees and Local Boards of Management in all
or any of the cities, towns, and places in the Principality of Wales,
and any other part of the United Kingdom, and also to appoint local
secretaries, and to discontinue such committees and boards, and from
time to time to remove any of the members thereof, or any such local
secretaries as aforesaid, and to revise such committee or committees
as aforesaid, and supply vacancies in the same, and re-appoint the
same or any person or persons to be such secretary or secretaries,
as they shall deem proper, and to make such allowance or remunera-
FOR A FRIENDLY SOCIETY.
73
tion to the members of any such committee or committees, and to
the secretary thereof respectively, as well as to any agent or agents
to be appointed as aforesaid, as they shall think fit; and it shall also
be lawful for the directors, or any five or more of them, to authorize
any such local committees to accept, on behalf of the society, pro-
posals for and effect assurances against fire, and upon any life or
lives, to grant endowments and annuities, and otherwise to act on
behalf of the society within the scope of the business, and according
to the regulations and rules thereof, as the directors shall think fit to
confer, and from time to time to revoke such authorities, and every
or any of them, or vary or limit, and in case of limit, to renew or
re-grant the same to the same or any other person or persons as the
directors shall deem expedient. But, nevertheless, no resolution or
other proceeding of any such Local Committee or Committees,
except the acceptance of the proposal for effecting of such insurances,
or the granting of such endowments and annuities as they may have
contracted to effect or grant in pursuance of powers or authorities to
be given them under the last preceding clause, shall be, or be con-
sidered, binding on the society, or shall otherwise be given effect to,
or acted upon, until the same shall have been confirmed by the
board of directors, at one of their general meetings, or at an extra-
ordinary meeting; and, subject to the provisions of the Act 13 & 14
Vict. c. 115, or any Act or Acts of Parliament hereafter to be
passed in relation to Friendly Societies, and to the consent of an
extraordinary general meeting of members, the directors shall
have power to establish in any place within the United Kingdom a
branch society, or branch societies, of the society.
44. Commission.
That it shall be lawful for the board of directors to pay or allow
to all persons at whose instance, or by whose means, shares shall be
sold, or assurances, endowments, or loans shall be effected, or
annuities granted with or by the said society, such sum or sums of
money from or out of the funds of the society, as commission upon
the sale of such shares, and upon such assurances, endowments,
loans, or annuities, as they, the said board, shall consider reasonable.
45. Issue of Assurances, Control of Funds and Accounts.
That the directors for the time being shall issue all policies, grants,
or other instruments of assurance, and shall from time to time
establish or alter the forms thereof, and fix the time and mode of
payment of premiums, which may be yearly, half-yearly, or other-
wise; and shall have power to regulate and establish fines for non-
appearance, and for renewing forfeited policies, and also to purchase
or take a surrender of the benefit of policies, and also to regulate
the terms and conditions upon which any annuity or endowment
shall be from time to time granted, and also the terms and conditions
upon which any loan or loans shall be granted under the provisions
74
PRECEDENT OF RULES
of these presents, and to direct the investment, calling in, carrying
out, lending, and disposal of the stocks, funds, monies, and securities
of the society, and to pay and receive the same, and to call general
and other meetings, and to direct the correspondence and mode of
keeping the accounts of the society, and other things necessary
for
carrying on the business and concerns of the society, in conformity
with the rules and regulations for the time being of the said society,
and also as between the society and the assured for the time being, to
decide that the money secured by any life or fire policy or policies
has become or fallen due, and that the same ought to be paid, and
to pay the same accordingly, or to determine that there are grounds
for resisting the claim, so that the claim by the assured ought not to
be conceded or allowed until it shall have been established by arbi-
tration, or to compromise or otherwise arrange any such claim.
46. Special Committee.
That the directors may, from time to time, if they shall deem it
necessary, appoint any one or more of their number to act, or be a
committee or committees for particular purposes, but so, neverthe-
less, that such directors so appointed as such committee or committees
shall, in all respects, act, and be under the control of the board of
directors; and that it shall be the duty of any such committee or
committees, to be appointed as aforesaid, to report to the board of
directors, either verbally or in writing, as they shall be required;
and further, that such report or reports, when received, or minutes
thereof, shall be entered in a book or books to be kept for that
purpose.
47. Terms of Assurance.
That all assurances against lives or fire, and other contingencies,
and all other assurances to be granted by the society, shall be effected,
and all business of the society shall be done and transacted upon such
terms and conditions, and in such manner, as the board of directors
shall think proper.
That it shall be wholly left to the discretion of the board of
directors to accept or refuse proposals for assurances, whether for
fire, or a life or lives, or otherwise, or by way of annuity or endow-
ment, or otherwise.
48. Signature of Policies.
That all policies and other grants and securities which shall be
issued by the society, shall be signed by three directors at least,
and sealed with the common seal of the society; and all policies so
signed, or so signed and sealed, as the case may be, shall be binding
on the society.
49. Liability of Funds of Society to Pay Policies.
That there shall be inserted in every policy or other assurance to
be issued and granted by the society, a reference to these presents,
FOR A FRIENDLY SOCIETY.
75
and a clause, condition, or provision, that the funds of the said
society for the time being undisposed of, according to the said rules,
shall alone be answerable for any claims under such policy, and that
no director, officer, or member of the society shall on any account
whatever be liable to the payment of any claim whatever made
against the society in respect of any share, benefit, assurance, or
annuity whatever granted by the society.
50. Special Clauses in Policies.
That it shall be lawful for the directors to insert, or attach to, all
policies or other grants or instruments to be granted or issued by
them respectively, such other general or special conditions, clauses,
stipulations, and agreements, as they shall from time to time deem
expedient.
51. No Policy to be Issued without Premium.
That no policy shall be issued by the society to any person until
such person shall have paid the first premium in respect of the
assurance to be effected by such policy; but that immediately after
the payment of such premium as aforesaid, by the person effecting
an assurance with the society, such person shall be considered as
assured by the society, although the policy to be granted in respect
of such assurance shall not have been issued; subject, however,
to any regulations which may from time to time be made by the
directors for the time being, as to the way in which the whole of the
premium or premiums, or any part or parts thereof, may be from
time to time paid.
52. Renewal of Policy after Forfeiture.
That the directors shall have power, notwithstanding any policy
or policies for the term of a whole life or whole lives may have
been granted upon the terms of the premium or premiums being
made yearly or half-yearly, or otherwise, according to the form of
such policy or policies, after such premium or premiums may have
been paid, for the space of three whole years, to make any subsequent
arrangement with the assured, last hereinbefore in that behalf referred
to, as to the mode in which the subsequent premium or premiums may
be paid, and to allow any portion or portions of such subsequent
premium or premiums to remain as a debt upon such policy or
policies, but with interest at and after the rate of £5 per cent. per
annum, and that the directors shall have power to renew or revive
any life or other policy which may have been forfeited, either by the
non-payment of premiums, or for any other cause, on such terms
and under such regulations as the board of directors may think fit,
subject, nevertheless, to these presents.
53. Surrender of Policies.
That the directors may accept a surrender of any life or other
76
PRECEDENT OF RULES
policy granted, or may purchase the same on such terms as shall
appear to them reasonable, and may give the owner in lieu thereof
another policy without any further premiums, for an equivalent sum
of money payable at the death of the person or persons, or of the
survivor of the person or persons on whose life or lives the assurance
shall have been effected, or upon such other terms as they may think
fit, subject, nevertheless, to these presents, and may advance upon
the security of any life policy, with or without any collateral secu-
rity, by way of loan, at such rate of interest as they shall think fit,
any sum of money not exceeding the estimated office value of the
same; and the directors may from time to time accept surrenders or
releases of annuities, and, in lieu thereof, grant other and similar
annuities at the expense of the society, as occasion may require, or
as may be deemed expedient.
54. Redemption of Annuities.
That it shall be lawful for the board of directors to redeem or pur-
chase any annuity granted by the society, upon such terms as shall
appear to them reasonable.
55. Payment of Claims.
That the directors shall cause the sum to be claimed under any
life or other policy granted by the society (except in those cases in
which they are hereby respectively authorized to defer the payment
thereof) to be paid, in the case of assurances against diseases or
accidents, within two calendar months after satisfactory evidence to
the board of directors, of any of the diseases or accidents as to
which provision was made or intended to be made by any such
assurance having taken place; and as to an endowment or endow-
ments provided by any such assurance, for the benefit of children,
within two calendar months after the time limited in such assurance
or assurances for the payment of such endowment or endowments,
upon satisfactory evidence being given to the board of directors
for the time being, of the event or events upon which such endow-
ment or endowments were by such last-mentioned assurance or as-
surances declared to be payable having taken place; and as to
policies for a whole life or lives, or for shorter periods, endowment
assurances payable at a given age, or dying previously, and annuity
assurances, when any portion of the purchase-money is to be re-
turnable in any event mentioned in such annuity assurance, either
as to such last-mentioned endowment assurance, within three
calendar months after satisfactory evidence to the board of directors
that the event has occurred in which such endowment assurance was
by the same assurance directed to be paid; and as to the same
endowment assurance, in the event of the person dying without
attaining such age; and as to the policies for a whole life or lives,
and for a shorter period, and the annuity assurance last hereinbefore
in that behalf mentioned, within three calendar months after evidence
FOR A FRIENDLY SOCIETY.
satisfactory to the board of directors of the time and place of the death
of any person or persons on whose life or lifes the assurance shall
have been made respectively, subject, however, to the power of the
board of directors for the time being, and even in deferred cases, to
make an immediate payment to some authorized member or mem-
bers of the family of any person, whose life may have been assured
for any sum or sums not exceeding £50, of a proportion thereof, but
not exceeding one-third of the amount thereof, upon satisfactory
evidence being given of the death of such last-mentioned person;
and the directors shall have power to refund to the personal repre-
sentative or personal representatives of any person or persons whose
life or lives may have been assured, the premium or premiums which
may have been paid upon such life or lives, and when such last-
mentioned policy or policies may have become void for want of due
renewal of the premium or premiums from time to time due, and to
become due, in respect of such policy or policies; but any such sum
or sums of money so refunded shall be liable to a reduction of £10
per cent. on the whole amount.*
56. Postponement of Payment of Claims.
That whenever a sudden increase of claims or losses under assu-
rance against fire shall happen by incendiarism, civil war, invasion,
or commotion; or whenever a sudden increase of deaths, or other
losses or accidents, shall happen, in consequence of the plague or any
contagious or epidemic disorder, or of famine, invasion, civil war, or
commotion, it shall be lawful for the board of directors to defer the
payment of the whole or any part of the sum to be claimed under
any policy issued by the society, in respect of any loss or death
which may happen during the prevalence of such incendiarism, civil
war, invasion, or commotion, or of such plague, contagious or epi-
demic disorder, or famine, for any time not exceeding twelve calendar
months, beyond the time hereinbefore appointed for the payment of
the same; the sum to be claimed under any fire-policy granted by
the society (except in those cases in which they are hereby expressly
authorized to defer the payment thereof), to be paid within three
calendar months after satisfactory evidence to the board of directors
for the time being, of the event in which such last-mentioned premium
is to be payable having taken place; subject, however, to such compen-
sation being made, in lieu of such payment, as is provided by rule 83,
of these presents; and such compensation to be also made within three
calendar months after the event on which the same is to be made.
57. Interest on Deferred Payment.
That the sum to become payable under every policy, the payment
of which shall, in pursuance of the authority hereinbefore given for
that purpose, be deferred by the board of directors beyond the
time hereinbefore appointed for the payment of the same, shall bear
* See note as to the latter provision, page 296.
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PRECEDENT OF RULES
such interest, not being less than after the rate of £3 for every £100,
by the year, as the board of directors shall think fit.
58. Record Book.
That the directors shall cause all orders of the board of directors,
and all appointments made and contracts entered into by the direc--
tors, to be recorded in a book to be provided for that purpose,
which shall be called the Record Book, and be kept under the
superintendence of the directors; and the records so made shall be
signed by the chairman presiding at the meeting, at which the same
shall be made, and shall be sealed with the seal of the society.
59. Minute Book.
That minutes of all the proceedings of every board of directors,
and any
committee thereof, and of every general meeting of mem-
bers whatever, shall be taken in person by the manager of the
society, or, in his absence, by some other officer appointed at the
time for the purpose, and by him be entered in a book, to be kept
for that purpose, and the minutes so entered shall be signed in the
book either by the person who was in the chair at that meeting, or
by a person not in the chair, who may have been present at that
meeting; and the book shall be full and conclusive evidence that the
proceedings of which the minutes purporting to be so signed as
aforesaid, and so entered therein, were regular in every respect, and
took place at a meeting duly convened, and held conformably to
these presents, and that the person whose name shall be subscribed
to the minutes entered in such book was the proper person to
authenticate such minutes by his signature, and that he signed such
minutes; and such book shall be binding and conclusive on all the
members of the society, and all other persons having any claims
whatsoever on the society, except so far as respects the entry of any
minute which shall, within three calendar months after the holding
of any board, be shown not to be a faithful record of any particular
matter or proceeding at such board, but so nevertheless that the
discovery of any error in the entry of any minutes shall not invalidate
any act or proceeding which may have been done, or may have
taken place in consequence of such entry previously to the discovery
of such error.
60. Manager.
That the manager shall, under the control and instructions of
the board of directors, conduct and manage the business of the
society; shall prepare the Returns required to be made by the Act
13 & 14 Vict. c. 115, and keep the books and accounts of the
society, conduct the correspondence, and act as secretary to the
board of directors, and to the society generally.
That the manager shall from time to time receive such salary,
payable quarterly from the date of the certification of these rules, or
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79
from the date of his appointment respectively, as the board of
directors shall think fit. And that, except in case of misconduct, he
shall not be removed from his office, without a notice of three
calendar months, to be given on or before any of the quarter days
upon which his salary becomes payable.
61. General Meetings to Regulate Affairs of Society.
That the general meetings of members, in addition to the powers
in these presents given, shall, subject and without prejudice to the
existing rules and regulations of the society, have full power to re-
gulate and control all the affairs and concerns of the society.
62. Chairman of General Meeting.
That the chairman of the board of directors shall take the chair
at every general meeting; or in case there should be no chairman,
or being such, he should be absent, or decline to take the chair, then
the deputy-chairman of the directors, shall take the chair; or in
case there should be no deputy-chairman, or being such, he should
be absent or decline to take the chair, then some one of the
directors present, to be elected at the meeting, shall take the same;
and in case all the directors should be absent, or such of them as
shall be present shall decline to take the chair, then the chair shall
be taken by some member present, to be elected at the meeting.
63. Number of Votes at General Meeting.
That at any general meeting and ballot, each member shall be
entitled only to one vote, unless it be upon the question of the dis-
solution of the society, when such member shall be entitled, according
to his respective interest in the society, to as many votes as is
hereinafter provided.
64. General Meeting may Make Bye-Laws.
That an extraordinary general meeting, specially called for the
purpose, shall have full power to make, from time to time, bye-laws
for the regulation of the directors, officers, and members, of the
society; such bye-laws not being repugnant to, or inconsistent with,
the provisions of the Act 13 & 14 Vict. c. 115, or of these presents.
65. Repeal of Laws of Society.
That two successive extraordinary general meetings, specially
called for the purpose, shall have full power to make any new laws
or regulations, and provisions for the society, or to amend, alter, or
repeal, either wholly or in part, all or any of the then existing laws,
regulations, and provisions of the society; or all or any of the rules
herein contained, and substitute others in their place: provided such
amendments, alterations, or repeals shall have been previously re-
commended by an extraordinary board of directors.
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PRECEDENT OF RULES
66. Dissolution of Society.
That two successive extraordinary general meetings, specially
called for the purpose, shall have full power to resolve on the ex-
pediency of the dissolution of the society, and to fix the day for the
dissolution thereof: provided always, that it shall not be lawful for
the members of the society, or of any branch thereof, to dissolve or
determine the society, or any branch thereof, so long as the intents
or purposes declared by the rules of such society, or any of them,
remain to be carried into effect, without obtaining the votes of
consent of five-sixths in value of the then existing members, to be
ascertained in manner hereinafter mentioned, and also the consent
of all persons then receiving or then entitled to receive relief either
on account of sickness, age, or infirmity, to be testified under their
hands individually and respectively; and for the purpose of ascer-
taining the votes of such five-sixths in value, every member shall
be entitled to one vote, and an additional vote for every five years
that he may have been a member; provided also, that no one member
shall have more than five votes in the whole; and in all cases of
dissolution the intended appropriation or division of the funds or
other property shall be fairly and distinctly stated in the proposed
plan of dissolution prior to such consent being given; and it shall
not be lawful for such society or branch by any rule to direct the
division or distribution of such stock or fund, or any part thereof, to
or amongst the several members of such society, other than for
carrying into effect the general intents and purposes declared by the
rules originally certified; and all such rules for the dissolution or
determination thereof without such consent as aforesaid, or for the
distribution or division of the stock or funds contrary to the rules,
shall be void and of none effect; and in the event of such division
or misappropriation of the funds without the consent hereby de-
clared to be requisite, any trustee or other officer or person aiding
or abetting therein shall be liable to the like penalties as are in the
Act 13 & 14 Vict. c. 115, provided in case of fraud.
67. Amalgamation with another Society.
Provided always, that it shall be lawful for this society, or any
branch or branches thereof, to become united or incorporated in any
society or branch with any other society or societies, branch or
branches, upon such terms as shall be appproved at an extraordinary
general meeting specially convened for the purpose by the major
part of the trustees and directors, or board of management of both
societies or branches.
68. Number of Votes to Make New Laws.
That three-fourths of the votes given at each of two successive
extraordinary general meetings, specially called for the purpose, or
at the ballots or ballot which may, in pursuance of the provisions in
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81
•
that behalf hereinbefore contained, be taken in consequence of being
demanded at such meetings, or either of them, shall be requisite to
make new laws, regulations, and provisions for the society, in pur-
suance of the 65th rule of these presents, and to amend, alter, or
repeal all or any of the existing laws, regulations, and provisions of
the society.
69. Irregularity in Proceedings of Society may be Cured.
That although it should happen from any cause that any meeting
should not be duly held or duly adjourned, the proceedings of every
such meeting, unless annulled at a special extraordinary general
meeting convened for the purpose, and until repealed, shall be con-
sidered as having duly taken place; and all transactions at the same
meeting, and all transactions until such repeal, shall be of the same
force and validity as if such meeting had been duly held or duly
adjourned; and if the proceedings of the society should be sus-
pended from any omission or irregularity in the election of direc-
tors or otherwise, such omission or irregularity may be supplied
or corrected, and the society placed on its regular footing by and
at an extraordinary general meeting of members, to be held after
notice to be given as aforesaid, in pursuance of a resolution of a
board of directors, at which three at least of the then directors, or if
there should not be any director or directors, then any three or
more of the late directors, shall be present.
70. Directors may be required to Call an Extraordinary
General Meeting.
That any five or more directors, or any ten or more members who
shall have been severally members of the society for at least six
calendar months then inmediately preceding, may at any time by
writing under their hands, subject, however, to the provision herein-
after in this clause mentioned, and to such members entering into an
undertaking at the time of making such requisition, in conformity
with such provision, to pay the costs, charges, and expenses herein-
after provided, require the board of directors to call an extraordinary
general meeting for any purpose relating to the society, and after
such requisition the board of directors shall call an extraordinary
general meeting accordingly, within one calendar month from the
day of the service of the said requisition, provided that every such
requisition be left at the house or office of the society within seven
days from the date thereof, and that in every such requisition the
object for which the extraordinary general meeting shall be required
to be called be fully expressed, otherwise it shall not be incumbent
on the board of directors to take notice of such requisition ; but if, in
pursuance of such requisition, the directors shall call an extra-
ordinary general meeting, and if within an hour after the time
appointed for such meeting the requisite number of members shall
not be present, the costs, charges, and expenses, if any, incurred in
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PRECEDENT OF RULES
and about the same, shall be payable by the members requiring the
same.
71. Upon neglect of Directors to call Extraordinary General
Meeting, Members may do so.
That if after any such requisition to the board of directors for
calling such extraordinary general meeting shall have been left at
the house or office of the society as aforesaid, the board of directors
shall neglect or refuse to call the same within the time and in the
manner herein prescribed, then and in such case it shall be lawful for
the members signing the neglected or refused requisition to fix some
day for holding such extraordinary general meeting for the purposes
mentioned in the refused or neglected requisition, and also to fix
some place in [London or Westminster], at which it shall be held,
to call such extraordinary general meeting by advertising the same
in one or more of the daily newspapers published in [London or
Westminster], and by sending to each member a circular letter,
under the hands of such three of the members calling such meeting
as shall be approved for that purpose in writing under the hands of
all the rest of the same members who shall have signed such ne-
glected requisition, at least ten days, and not more than twenty-one
days, before the time fixed for holding the same; and in the circular
letter the object of such extraordinary general meeting, and the day
and time of meeting, and the place at which the same shall be held,
must be specified.
72. Adjournment of Meeting, if requisite Number of Members
not present.
That if thirty members at the least shall not in person assemble
and proceed to business within one hour after the time fixed for
holding any extraordinary general meeting, then the members, if
any present at such last-mentioned meeting, at the expiration
of such hour, shall immediately disperse, and no business shall
be transacted at any such meeting, and the meeting shall there-
upon be considered to be dissolved, and the requisition under which
such meeting was convened cease to have any further force; and if
the number of members in this rule above required shall not be
personally present at any general meeting when any question shall
be about to be decided upon, other than the election of directors
and auditors, as provided for by rule 16, then such general meeting
may either proceed with the business or adjourn to a future day; and
any general meeting, whatever may be the number of members
personally present, may adjourn to a future day, if it should be
thought proper to break up before the whole of the business shall be
completed.
73. Time for Holding Adjourned General Meeting.
That if any general meeting shall be adjourned in consequence of
FOR A FRIENDLY SOCIETY.
83
a deficiency of the number of members personally present, such a
day shall be fixed by such meeting for holding the adjourned general
meeting as will allow sufficient time for calling the same in the
manner hereinafter mentioned.
74. If adjourned from other cause than want of Members, how
Meeting may be held.
That if any general meeting shall be adjourned otherwise than in
consequence of a deficiency in the number of members present,
then the adjourned general meeting may be held either from hour to
hour, or from day to day, or at such other time or times, and in such
manner as shall be determined by the original meeting, or any
adjournment thereof.
75. Adjourned Meeting to be called by Directors.
That whenever a general meeting shall, in consequence of a defi-
ciency in the number of members present, have adjourned to a
future day, the board of directors shall call the adjourned general
meeting.
76. Apportionment of Interest or Profit.
That the profit and interest, or other accumulations realized by the
investment upon securities of any or all of the funds of the society,
shall be from time to time apportioned to the several funds of the
society, and at a rate equivalent to the average of the interest re-
ceived in the year upon the gross amount of the investments of the
society, and proportionally according to the sums belonging to each
separate fund at that time invested.
77. Special General Expense Account.
That in case any loss or losses of any monies, or other property of
the society lent or advanced, shall happen, the same, and also all
expenses incurred by the society to recover from debtors to the
society any sum or sums due to the society, shall be carried to an
account, to be called "The Special General Expense Account," and
the amount of such account shall, from time to time, be borne by
the several funds rateably, and in proportion to the respective
amounts of money respectively lent from those funds at the time of
the loss or expense being incurred.
78. Preliminary Expenses.
That all expenses incurred in the formation of the society, in-
cluding the costs and charges of and incidental to the framing and
executing of these presents, the lease, repairs, and alterations of the
office or house of the society, and the furniture and fixtures therein,
and for the tables of premiums computed for the fire and life de-
partments, as also, during the first year, for printing, stationery, and
advertisements, and the appointment of and outfit of agents, shall
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84
PRECEDENT OF RULES
*
be deemed "preliminary expenses," and as such in the first instance
be a charge generally upon the funds of the life, fire, and invest-
ment departments of the society, in proportion to their several
amounts, except that the per-centage of expenses shall be only one-
half upon the funds of the investment department, as compared
with that upon the funds of the life and fire departments; but that
in estimating the profits of the fire, life, and investment departments,
at the periodical investigations hereinafter provided, the funds of the
said departments shall not be debited as for loss with the charge of
preliminary expenses, to an amount exceeding one-tenth part actually
due of such expenses for each year, the first of which years shall be
dated from the certification of these rules, such proportionate decimal
parts being the sum of the annual instalments so due, and adjusted
for the number of years elapsed, at the date of the several periodical
investigations respectively.
79. Expenses of Management.
That the cost of all advertisements, and of general prospectuses,
printed books, paper, and other articles, ordinarily used in and about.
the business of the society, and supplied after the first year of the
society; and the rent, taxes, rates, and other expenses of and inci-
dental to the office or offices, and the remuneration and salaries paid
to the directors, auditors, manager, clerks, and servants; as also the
costs of postages and of carriage of parcels, and the travelling
expenses incurred for the general purposes of the society, shall be
deemed to be comprised in the "expenses of management," and as
such shall be charged to, and be defrayed by the fire, and life, and
investment departments of the business of the society, in equal
proportions.
80. Special Expenses of the Life Department.
That the salary of the actuary, medical officers, and other persons
especially employed in and on behalf of the life department, and
the costs of all books, stationery, printing, and forms used exclusively
for that department, and the commissions paid upon all business
transacted in that department, and all other expenses incurred on
account thereof, shall be deemed to be "special expenses of the life
department," and charged as such to the funds thereof.
81. Special Expenses of the Fire Department.
That the salary of the surveyor and other persons especially
employed in, and on behalf of the fire department, and connected
therewith, and the cost of all books, stationery, printing, and forms
used exclusively for the same, and the commissions paid upon all
business transacted in that department, and all other expenses in-
curred on account thereof, shall be deemed to be "special expenses
of the fire department," and as such be charged to the funds thereof.
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85
FIRE DEPARTMENT.
82. Fire Assurance Fund.
That all premiums and contributions, or other sum or sums of
money received by the society for or in respect of the fire department,
as prescribed in clause 3, of rule 3, of these presents, together with all
interest, dividends, or profits accruing thereon, shall be kept separate
and distinct from any other accounts whatever, and shall be carried
to the account of a fund, to be denominated "The Fire Assurance
Fund," and such fund shall be charged with the payment of all
claims, losses, and special expenses incurred, or to be incurred, by or
in respect of the fire department, and also with the payment of its
proportion of the "preliminary expenses," and the "expenses of
management."
83. Adjustment of Losses by Fire, by Repairs, or Substitution
of Property.
That in all policies of assurance issued out of the fire department,
the directors for the time being shall cause a condition to be inserted,
by which they shall have power to compensate the assured for any
claims or losses made or sustained by a reparation of the premises, or
other property lost, destroyed, or damaged, instead of making good
such claims or losses by a payment in money; and it shall be com-
petent also for the directors, if they consider the interests of the
society so require, to refuse to renew any policies of fire assurance
previously effected with the society, and also by a special meeting of
the board of directors, duly convened, to suspend the operations of
the fire department, without requiring the authority of a special
general meeting of the members for that purpose.
84. Periodical Investigation of Fire Department.
That at the expiration of the first seven years, from the certifi-
cation of these rules, and thereafter at the end of every subsequent
seven years, from the last investigation respectively, an investigation
and report shall be made by the manager, under the superintendence
of the board of directors, of the total receipts, payments, assets,
and liabilities of the fire department, for the purpose of ascertaining
the loss or profits accruing on the business done during the preceding
seven years; and after payment of or allowance for the discharge of
all expenses, losses, claims, or debts due, unpaid, or chargeable upon
the Fire Assurance Fund, the surplus, if any, of such fund shall be
set aside, paid, and apportioned by the board of directors for the
time being, in the manner following, that is to say, four clear fifth
parts thereof to a fund to be denominated "The Fire Assurance
Reserve Fund," such fund to be thereafter applied as a rest or re-
serve, and applicable to the future demands of the fire department,
should the Fire Assurance Fund for the time being not be suffi-
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PRECEDENT OF RULES
cient to meet the demands upon it, and the remaining fifth part to a
fund to be called "The Fire Policy-Holders' Benevolent Fund,"
such fund from time to time to be applied to the occasional relief of
persons assured against fire with the society, by and at the discretion
of the board of directors.
LIFE DEPARTMENT.
85. Life Assurance Fund.
That all the premiums or contributions, or other sum or sums of
money, received by the society from or in respect of the life depart-
ment, as prescribed in clauses 1 and 2 of rule 3 of these presents,
shall be kept distinct and separate from all other funds whatsoever,
and shall be carried respectively to a fund to be called "The Life
Assurance Fund," and such fund shall be chargeable with the
payment of the proportion of the preliminary expenses, management
expenses, and special general expenses falling upon the life department.
86. Periodical Investigation of Life Department.
That at the end of the first seven years from the date of the
certification of these rules, and thereafter, of every five years, a
valuation shall be made by the actuary of all the annuities, assu-
rances, and other grants effected in the life department.
That in the first and every subsequent investigation of the life
department, the mode of ascertaining the surplus divisible profit (if
any) shall be by taking separately the actual amount of the net
profits accruing in and from the operations of each class of assurance
respectively for the number of years preceding in respect of which
the valuation shall be made.
That in each and every periodical investigation of the life depart-
ment, the following regulation shall be observed; namely, that the
then present value of the respective liabilities shall be calculated by
and according to the rate or law of mortality made the basis of each
class or table of assurances respectively, and at the net rate of interest
primarily assumed therein, and that the then present value of the
assets, consisting of the annual or other premiums receivable, or to
be received, in respect of every assurance or annuity, shall be taken
at the net sum thereof, and at the rate of interest primarily charged
and assumed in each and every class or table of assurance respec-
tively, no allowance being made for the marginal additions or sur-
plusage laid on each net premium as a provision for fluctuations,
commissions, and expenses.*
* The income or profits of a Friendly Society assuring not more than £200,
or an annuity of £30, arising from dividends payable in respect of monies in-
vested by them in the public funds, or in Bank of England stock, or in the stock
of the East-India Company, or in Savings' Banks, or with the National Debt
Commissioners, is and are exempted from payment of property tax, by the
5 & 6 Vict. c. 35.
FOR A FRIENDLY SOCIETY.
87
87. Profits of Life Department.
That the surplus divisible profits of the business of the life
department periodically ascertained as aforesaid, after due allowance
made out of the existing funds thereof for all expenses incurred by
or in respect thereof, and for all claims emerged and remaining
unpaid and unsatisfied, shall be thus appropriated; namely,-one
moiety of such divisible profits to a fund to be called "The Life
Assurance Reserve Fund;" such fund to be thereafter applied as a
reserve or rest, and be applicable to the future demands of the life
department, should the several funds thereof be insufficient to meet
the demands respectively falling thereon; and the remaining moiety
of such divisible profits shall be thus appropriated; namely,-two
third parts of such moiety of the divisible profits as a Bonus to the
holders of policies of life assurance, such assurances being for the
whole term of life, or payable on death, or at a given age, and to be
divided amongst the holders of such life assurances in the manner
hereinafter prescribed; and the remaining one third part of such
moiety of divisible profits to a fund to be called "The Life Policy-
Holders' Benevolent Fund," such fund to be from time to time ap-
propriated, by and at the discretion of the board of directors, to the
occasional relief and assistance of any or all of the persons whatsoever
assured under any kind of assurance in the life department of the
society.
88. When Assured Entitled to Participate.
That the holders of participating life policies shall be entitled
to be placed on the list of profit assurances so soon as the whole
premiums may have been paid in a single sum, or after payment
of premiums for three years, when the same are payable for a
given number of years only, or after payment of premiums for five
years, when the same are payable during the whole of life.
89. Bonus to Life Policy-holders.
That the board of directors are hereby empowered, at their own dis-
cretion, either to apply in reduction of future premiums on, or to appro-
priate by addition to, the sums assured in the policies of the persons
entitled to share in the profits of the class of participating assurances,
immediately after the declaration thereof, all and every the bonus
or bonuses so ascertained as aforesaid; and that such declaration of
bonus or bonuses shall take effect on and from the day of the date
at which the periodical investigation respectively ought to or should
have taken place, notwithstanding any delay may have prevented,
or shall prevent, such periodical investigations from being gone into
and completed at the time or times hereinbefore prescribed, but that
any or all bonus or bonuses, so ascertained as aforesaid, shall only be
declared to belong to the holders of such policies of assurance as upon
which all premiums due at the time of proceeding to make the
periodical investigation of the life department shall have been fully
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PRECEDENT OF RULES
paid up; and that such bonus or bonuses shall be appropriated to
the holders of such life policies entitled to participate, in proportion
to the amount of the policies and the number of years they may
have been respectively entitled to share therein.
90. Powers of Directors to Suspend a Division of Profits.
That the board of directors for the time being are hereby em-
powered, notwithstanding anything to the contrary in these presents
contained, after a special meeting called for the purpose of taking
into consideration the report or reports of the actuary, manager,
secretary, or other person or persons employed by the directors to
make any periodical investigation as aforesaid into the affairs of the
society, or of any department thereof, should they at such special
meeting, by a majority of at least three-fourths of the members of
the board present, think fit, on the ground that the portion of divi-
sible profit accruing to the Life, Investment, or Fire Assurance Funds,
under the report, investigation, or valuation, so made by such officer
or officers, or other person or persons so appointed by them to make
the same, are insufficient for the future demands of such fund or funds
respectively, to defer or suspend the declaration and appropriation
of any bonus or bonuses, to all or any of the policy-holders, in
either of the departments of the society, which may have been
ascertained or recommended to be made by such actuary, manager,
secretary, or other person so employed by them to make such inves-
tigation or investigations respectively.
91. Notice of Bonus.
That within twenty-one days after any annual general meeting, ex-
traordinary general meeting, or meeting of the board, at which the
´directors may declare any bonus or bonuses to the policy-holders, the
board of directors shall, by a circular letter, addressed to every
policy-holder interested in such bonus or bonuses, give him a notice
of such bonus or bonuses, and the particulars thereof.
92. Register of Members, and Post Notice.
That a register be kept, in which shall be entered the Christian
and surname, profession, trade, or business, and the place of abode of
every member of the society, and as often as any member shall
change his or her place of abode, he or she shall, within fourteen
days, give a notice thereof to the manager, or forfeit 1s. 6d. for each
neglect. That on such notice being given, the alteration shall be
duly entered in such register; and all notices or letters, upon what-
ever subject, shall be deemed duly given by putting the same into
the post-office, addressed to the member according to the last entry
on the register.
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89
INVESTMENT
DEPARTMENT.
93. Valuation of Funds.
That all the contributions, payments, and monies whatsoever re-
ceived by the society in respect of shares or assurances of any kind
in the investment department, shall be kept separate and distinct in
a fund by itself; and that at the end of the first five years from
the date of the certification of these rules, and at the end of every
subsequent five years, the board of directors shall cause a valuation
to be made by the consulting actuary of the society, or some other
actuary competent to do so, of all the existing funds, effects, and
property of the investment department: and after due allowance
made for payment of all claims and losses already made and allowed,
and of the amount of all shares or assurances granted therein, either
emerged or to emerge, calculated up to the date of the valuation re-
spectively, and of the proportion unpaid of the expenses and losses of
the society incidental to, or belonging to the investment department,
the surplus divisible profits, if any, shall be thus appropriated;
namely, one moiety thereof to a fund to be called "The Investment
Assurance Reserve Fund," to be applicable to the future wants of
the investment department; and the remaining moiety of such
divisible profits shall be appropriated in the following manner;
namely, two third parts of such moiety as a bonus to the holders
of existing shares or assurances, held in the investment department
for a period of one year or upwards, in addition to the sums or shares
assured, and in proportion to the amount of such shares or assurances,
and to the period they shall have been respectively in force; and
the remaining one third part of such moiety of divisible profits to a
fund to be called "The Investers' Benevolent Fund," such fund to
be from time to time, by and at the discretion of the board of direc-
tors, appropriated to the relief and assistance of all or any of the
members assured under any kind of shares or assurances in the
investment department of the society.
94. No Benefit of Survivorship.
That no benefit of survivorship shall be claimed by the members of
the society, on account of any benefit, share, assurance, annuity, or
other grant whatsoever, made by the society in any department
thereof; but upon the death of members during the term of their
subscription, their legal representatives shall succeed according to
law, and to the special rules or conditions of the society pertaining
to each particular share or assurance, to their shares and interest in
the share, benefit, assurance, or interest to which such member so
dying was entitled at or before his or her death.
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PRECEDENT OF RULES
LOAN DEPARTMENT.
95. Value and Title of Property for Purchase or Mortgage.
That the surveyor of the society shall, previously to any advance.
of money being made by the society by way of mortgage or other-
wise upon any freehold, leasehold, or copyhold property whatever,
make a survey and valuation thereof (at the expense of the person
requiring the advance), and shall return the same under his hand to
the board of directors; and if the value of such property be deemed
fully adequate to the advance required to be made, the solicitor of
the society shall then, at the cost of the person requiring the advance,
report to the board of directors of the nature and validity of the
title of the proposed mortgagor to such property.
96. Fire Insurance and Ground Rent.
That all property mortgaged to this society shall be insured, in
pursuance of any covenant contained in the lease or deed under
which such property shall be held, in the joint names of the lessor
or mortgagor (if he be the freeholder), and of the trustees of the
society, or as the directors shall determine; and the manager
shall immediately effect the same, in conformity with written
instructions to be furnished to him by the solicitor of the society;
and in case of neglect, the manager shall be fined twenty shillings;
and he shall pay all premiums for insurance of mortgaged property
as the same respectively shall become due, or be fined twenty
shillings for each insurance left unpaid; and the persons on whose
account such premiums for insurance shall be paid, shall, on demand,
refund the amount so paid.
That the manager shall pay all ground-rents chargeable on pro-
perty mortgaged to the society immediately on the several amounts
respectively falling due, or within such period as the ground landlord
may stipulate, or he shall be fined twenty shillings for each neglect ;
and the person on whose account such ground-rent shall be so paid
shall, on demand, immediately refund the amount thereof, and in
default thereof pay a fine of one shilling in the pound per month
on the amount thereof; and until such ground-rent and fine be paid
by him, the same shall be deducted from the amount of prin-
cipal money already repaid by him, or be added to the principal
money to be then paid by him; and the same rule shall apply to
the non-payment of fire insurance premiums.
Whenever any property mortgaged to this society shall receive
any damage from fire or any other cause, for which the insurance
company may be liable to give compensation, the trustees for the
time being of the society shall receive the amount of damage so
sustained from the insurance company, unless by the power usually
granted to certain insurance companies, the insurance company by
which such property has been insured shall cause the premises so
destroyed or damaged to be rebuilt or repaired; and in such case,
FOR A FRIENDLY SOCIETY.
91
the surveyor of the society shall inspect the premises so rebuilt or
repaired, and furnish to the board of directors his report of the
sufficiency or insufficiency of such re-erection or repairs by the in-
surance company; and in case the same be not completed to the
satisfaction of the directors and the surveyor, the board of directors
shall be empowered to take the necessary steps to have such re-
erection or repairs of the said premises perfected by the insurance
company to the extent of the insurance effected in the policy of
insurance. But in case the trustees for the time being shall receive
the amount of such damages in money from the insurance company,
then the board of directors shall cause the said premises to be
rebuilt or restored, under the superintendence of the surveyor of the
society, at a cost not exceeding the amount of such monies so re-
ceived from the insurance company, unless the person interested in
the property shall furnish additional funds requisite to cover any
further outlay he may require.
97. Fines.
All fines chargeable upon any member or person by, or under
these rules, or by, or under any conditions or rules of assurance,
shall from time to time be appropriated in such manner as the
directors shall determine.
98. Declaration of Trust, and Security.
That as soon as conveniently may be after the certification of these
presents, the board of directors shall cause a deed, or instrument in
writing, to be executed by the trustees herein appointed; and on
the appointment of any new trustee or trustees, the board of directors
shall cause a deed or instrument to be executed by such new trustee
or trustees; by which deed or instrument respectively, the said
trustees herein appointed, and such new trustee or trustees respec-
tively, shall declare that he or they respectively shall stand pos-
sessed of, and hold so much of the funds or property of the society
as shall from time to time be vested in them respectively, or in him
either alone or jointly with any other trustee or trustees, in trust
for the society, upon trust to dispose of such funds or property as
the board of directors shall from time to time by any order in
writing, signed by any three or more of them, appoint.
That the treasurer for the time being of the society shall, before
he be admitted to take upon him the execution of any such office,
give bond to the society, pursuant to the 13 & 14 Vict. c. 115,
8. 11.*
* Upon the construction of a clause in the 33 Geo. 3, c. 54, similar to the
39th section of this Act, it was held that in a bond conditioned for the produc-
tion of a box containing the subscriptions of a Friendly Society, need not be
stamped. (Carter v. Bond, 4 Esp. 235.) This section exempts from stamp-duty,
any power, warrant, or letter of attorney, for the transfer of any share in the
public funds; and although the 12th section authorizes other investments than
in the public funds, yet this exemption will not extend to such other investments.
92
PRECEDENT OF RULES
The directors shall not authorize any of the funds or property of
the society to be vested in any such trustees or trustee until they
and he shall have executed such deed or instrument, as aforesaid.
The directors shall, if they think fit, require the manager and
any clerks and servants, agents, or other persons in their em-
ploy, to give security to the trustees of the society for the faithful
discharge of their duties.
99. Account Books and Accounts.
That at every general meeting, the board of directors shall cause to
be produced, any of the account, minute, or other books belonging
to the society; and also these presents, and any other documents
and writings concerning the society, which shall be in the possession
or power of the board of directors.
That the board of directors shall cause proper books of account
to be kept, and proper entries to be made therein of all such matters,
transactions, and things as are usually written and entered in books
of account of a nature similar to the concerns of this society.
That the board of directors shall cause the Copy of these Rules
Certified by the Registrar of Friendly Societies, and the said books
of account, and all minutes and other books belonging to the
society, and all other documents and papers of the society, to remain
and be kept at the house or office of the society.
100. Removal of, and Costs of Trustees.
That it shall be lawful for a general meeting of members called
for the purpose, to remove from his office any trustee of the society
who shall become a lunatic or of unsound mind, or who shall refuse
or decline, or become bankrupt or insolvent, or otherwise be incapable
to act in the trusts reposed in him by the society, or for any other
cause whatsoever.
That if any trustee of the society shall, in respect of any matter
or business thereof, be desirous of employing any solicitor or
solicitors other than the solicitor or solicitors for the time being of
the society, such trustee shall pay all the costs as between solicitor
and client incurred by employing such solicitor or solicitors.
101. Recovery of Trust Funds.
That when, and so often as it may happen, that any one of the
trustees of the society shall become a lunatic or of unsound mind,
or bankrupt or insolvent, or otherwise be incapable of acting,
it shall be lawful for the board of directors to take such steps
and use such means as they shall in their discretion think proper,
for the purpose of getting out of such trustees all such trust property
belonging to the society as may happen to be vested in him, either
solely or jointly with any other trustee or trustees of the society.
That the board of directors shall cause all such acts and deeds to
be done and executed as shall be necessary for the purpose of
FOR A FRIENDLY SOCIETY.
93
getting out of every trustee, who, under the provisions herein con-
tained, shall be removed, resign, or cease to be a trustee, all such
trust funds, or property belonging to the society, as may be vested
in such trustee either solely or jointly with any other trustee or
trustees of the society.
102. Release of Trustees.
That any person on ceasing to be a trustee of the society, his
heirs, executors, and administrators, after having duly accounted to
the board of directors for all services and things relating to his trust,
from the commencement thereof up to the time of his ceasing to be
a trustee; and after having assigned, transferred, and disposed of to
such person or persons, and in such manner as the board of di-
rectors shall order or direct, all such trust funds and property
belonging to the society, as may be then vested in him either solely
or jointly with any trustee or trustees of the society, shall thenceforth
be released and discharged from all liabilities whatsoever in respect
of any act, matter, or thing committed or permitted by him in the
capacity of trustee, except any costs, charges, losses, damages, or
expenses, for which, by his wilful neglect or default, he may have
rendered himself liable to the society; and the board of directors
shall, after any person ceasing to be a trustee of the society shall
have so accounted, and so conveyed, assigned, transferred, and dis-
posed of all such trust funds or property belonging to the society as
aforesaid, give to such person or persons a certificate, signed by
three directors authorized for that purpose by the board of directors,
stating that such person has ceased to be a trustee of the society, and
that he is by virtue of these presents so released and discharged as
aforesaid; and such certificate shall at all times be evidence of such
release and discharge; and every person not regularly appointed a
trustee of the society, who, by construction of equity, shall be a
trustee for the same, shall be deemed a trustee within the meaning
of this rule; and every certificate to be given by virtue of this
rule shall be called a trustee certificate.
103. Trustees to Sell Property of Society.
That the trustees or trustee for the time being of the society, in
whom may be vested any of the funds or property of the society,
shall, when requested by the board of directors so to do, with all
convenient speed, absolutely sell and dispose of the same funds or
property, either by public auction or private contract, as ordered by
the board of directors, to any person or persons willing to purchase
such funds or property, for the best price or prices previously fixed
thereon by the board of directors that can be had or gotten for the
same, with power, under the authority of the directors for the time
being, to buy in the same, or any part or parts thereof, at any sale
or sales by auction, or to rescind, alter, or vary any contract or con-
tracts which may be entered into for the sale thereof, and to resell
94
PRECEDENT OF RULES
the premises which shall be so bought in, or as to which the con-
tract or contracts for sale shall be so rescinded, and shall enter into,
make, and execute, all such contracts, agreements, acts, deeds,
assignments, and assurances, as to the trustee or trustees for the time
being shall seem necessary or proper; and that all the contracts,
agreements, acts, deeds, assignments, and assurances which shall be
so entered into, made, and executed by such trustees or trustee as
aforesaid, shall be valid and effectual, and bind and conclude all the
members for the time being of the society respectively, and their
respective executors and administrators, and all persons claiming, or
to claim, by, from, or under, or in trust for them respectively, as
fully and effectually as if they had been respectively parties to such
contracts, agreements, acts, deeds, conveyances, surrenders, assign-
ments, and assurances.
104. Receipt of Trustees.
That the receipt or receipts in writing of the said trustees or
trustee for the time being of the society in whom any of the funds
or property of the society shall for the time being be vested, for any
monies arising from such funds or property, or any of them, or any
part or parts thereof, or for any other monies which shall be payable
to such trustees or trustee for or on account of the society, shall effec-
tually discharge the person or persons paying the same from being
answerable or accountable for the misapplication or non-application
of the said monies, or from being obliged or concerned to see to the
application thereof, or to inquire whether any such receipt was
authorized or ordered by the board of directors, or whether any such
sale, disposition, or conversion as aforesaid, of such part or parts of
the funds or property of the society, was authorized or ordered by
the board, or to inquire whether the person or persons giving such
receipt or receipts, was or were, at the time of giving the same,
actually trustees or trustee of the society, and duly appointed in
pursuance of these presents.
105. Acts of Trustees and other Officers Binding on Society.
That all the votes, acts, deeds, and things given, done, and exe-
cuted, or suffered to be given, done, and executed, for or on account
of the society, by any person ostensibly filling the office either of
trustee, director, auditor, or other officer of the society, or of the
chairman of any general meeting, or at a board of directors, and in
right, or by virtue of which he shall assume to give, do, or execute
such votes, acts, deeds, or things, or to suffer such votes, acts, deeds,
or things to be given, done, or executed, shall be valid, binding, and
conclusive on the society, and the members thereof, and all
persons claiming under them, notwithstanding his election or
appointment to such office shall have been irregular or invalid, or
notwithstanding he may have become disqualified to continue in
office; and it shall not be necessary in any action, suit, or other pro-
FOR A FRIENDLY SOCIETY.
95
ceeding which may be brought, commenced, or prosecuted, for or on
behalf of the society, against any member of the society, or his
executors or administrators, to prove that the election or appoint-
ment of any trustee, director, auditor, or other officer of the society,
or of the chairman at any general meeting, or at any board of direc-
tors, or of any person ostensibly filling any of those offices, was
regular or valid; and if any objection shall be made by any member
of the society, or his or her executors or administrators, in any
action, suit, or other proceeding, so brought, commenced, or prose-
cuted against him, her, or them, that the election or appointment of
any trustee, director, auditor, or other officer or chairman, or of any
person ostensibly filling any of those offices, was irregular or invalid,
this present clause shall be admitted as a bar to such objection, and
as conclusive evidence of the regularity or validity of the election or
appointment.
106. Indemnity to Trustees, Directors, Auditors, and other
Officers.
That the trustees, directors, auditors, and other officers for the
time being, of the society, and each and every of them, and their,
and each and every of their heirs, executors, and administrators,
shall be indemnified and saved harmless out of the funds or pro-
perty of the society, from and against all costs, charges, losses,
damages, and expenses, which they, or any, or either of them, their,
or any or either of their heirs, executors, and administrators, shall
or may bear, pay, sustain, incur, expend, or be put unto, for, or on
account, or in consequence of any contract or engagement, which
shall or may be entered into, for or on behalf of the society, or for,
or on account, or in consequence of any act, deed, matter, or thing
whatsoever, which they, or any, or either of them, may do, or cause
to be done, in carrying into effect the objects and purposes of the
society, or in or about any indictment, information, presentment,
action, suit, process, proceedings, or arbitration, to be brought, com-
menced, carried on, prosecuted, defended, or entered into, for, or on
account thereof, or for, or by order, or direction of the board of
directors, or in anywise relating thereto, respectively, or otherwise,
in or about the execution of their respective offices, except such
costs, charges, losses, damages, and expenses, as shall happen by or
through the wilful neglect or default of any such trustee, director,
auditor, or other officers respectively. And the trustees, directors,
auditors, and other officers for the time being of the society, and
each and every of them, and their, and each and every of their
heirs, executors, and administrators, shall be charged and chargeable
only for so much money as they and each and every of them shall
respectively actually receive by virtue of their respective offices ;
and that any one or more of them shall not be answerable or ac-
countable for the other or others of them, nor for the acts, receipts,
neglects, or defaults of the others or other of them; but each and
96
PRECEDENT OF RULES
རྞ
every of them for his and their own acts, receipts, neglects, and
defaults only; nor shall they, or any, or either of them, be answer-
able or accountable for any person who may be appointed under
and by virtue of these Rules, or by the board of directors, the
collector or receiver of any monies for or on behalf of the society,
or in whose hands the same or any of the monies of the society
shall or may be deposited, or lodged for safe custody, nor for the
insufficiency or deficiency of title to any estates or property which
may from time to time be purchased by, or by the order of the
board of directors, or for or on behalf of the society, nor for the
insufficiency or deficiency of any security or securities in or upon
which any monies of the society shall or may be placed out, or
invested, by or by the order of the board of directors, nor for
any other loss, misfortune, or damage which may happen in the
execution of their respective offices, or in relation thereto, except
the same shall happen by or through their own wilful neglects or
defaults respectively, and except he or they shall, in pursuance of
13 & 14 Vict. c. 115, s. 14, make a declaration in writing under
his or their hands, to be deposited with the Registrar of Friendly
Societies, that he or they respectively are willing to be so answer-
able, and then only to such amount as shall be specially named in
such declaration aforesaid.
107. Re-Assurance of the Policies of the Society.
That it shall be lawful for the directors to assure on behalf of the
society, with any other fire and life assurance company established
prior to the year 1844, or subsequently established, if duly regis-
tered under the Act 7 & 8 Vict. c. 110, or incorporated by Royal
Charter, Act of Parliament, or Letters Patent, the risks and engage-
ments, or part of the risks and engagements, of this society, by
way of re-assurance, counter-policies, or indemnity, on such terms
as to the directors shall appear to be fair and reasonable.
108. Bankruptcy of Debtors to Society.
That upon the bankruptcy or insolvency of any person or persons
who may happen at the time of such bankruptcy or insolvency to
be indebted to the society, the board of directors shall nominate and
appoint such person or persons as they shall think proper, to prove
the debts due to the society from the estate and effects of such bank-
rupt or insolvent, and generally to act for or on behalf of the society
in the case of such bankruptcy or insolvency; and upon any such
bankruptcy or insolvency, the board of directors shall also nominate
and appoint the person or persons who shall receive, for or on behalf
of the society, the dividend or dividends, or other sum or sums of
which shall from time to time become due in respect of such
debt; and the receipt or receipts of the person or persons who shall
be so nominated and appointed to receive such dividend or dividends,
shall effectually discharge the person or persons paying the same,
money
FOR A FRIENDLY SOCIETY.
97
from being answerable or accountable for the misapplication or non-
application thereof, or from being obliged to see to the application
thereof.
109. Balance in the hands of the Treasurer, or at Bankers.
That the board of directors shall always have in the hands of the
treasurer or bankers of the society such a balance of the funds of
the society as they may think fit.
110. Arbitration and Arbitrators.
That in case of dispute arising between the society and any mem-
ber or officer thereof, or any person or persons claiming through or
under any officer or member, the same shall be referred to arbitra-
tion, unless such dispute can be amicably arranged by the board of
directors and such member or members, person or persons, or his or
their legal representatives, within fourteen days from the time such
disputed matter shall be formally brought before the board. At the
first general meeting of the members convened by the board of
directors, and to be held after the certification of these rules, five
arbitrators shall be elected by the members present, none of them
directly or indirectly connected with the society, or any branch
thereof; and in case of reference to arbitration, the names of all
the arbitrators shall be written on separate pieces of paper, and
placed in a box, and the three whose names are first drawn by the
complaining party, or some one appointed by him or her, shall be the
arbitrators to decide the matter in dispute, whose decision, or the
decision of the majority of them, shall be final; provided always,
that the award of the arbitrators shall be made within one calendar
month next after a notice of the reference shall be given by the
manager to each of the arbitrators appointed to adjust the matters in
difference,. unless a consent in writing be given by both parties for
an extension of the time; and that no suit or action shall be com-
menced or brought by any of the members or officers, or any person
or persons claiming through or under such officer or officers, member
or members, against any other or others of them, or against the
said arbitrators, or any of them, touching the matter referred, or any
matter arising out of, or in relation thereto; and that all necessary
books, papers, and documents shall be produced before the said
arbitrators if they shall think fit; and that the said arbitrators
shall have power to summon before them any trustee, director, officer,
member, clerk, or servant of the society, they may deem necessary
or expedient. Each of the arbitrators so drawn and attending shall
receive a remuneration of twenty-one shillings; and the costs of the
reference shall be paid as the arbitrators shall direct.
The party
requiring the arbitration shall deposit with the manager three
guineas for the arbitrators' remuneration. And in case any of
the arbitrators appointed under and by virtue of these rules shall
any time die, resign, or neglect or refuse to act, the members of
at
H
Uor M
1
98
PRECEDENT OF RULES FOR A FRIENDLY SOCIETY.
the society, or any branch thereof, at a general meeting, or a general
committee thereof, shall forthwith elect some other person to be an
arbitrator in his place, such person so elected not being in any way
connected with the society, or any branch thereof.*
111. Construction of Rules.
That in the practical application of these rules, or any rules here-
after to be made by virtue thereof, the construction put upon them
by the board of directors shall be final and conclusive. That a
word in the singular number shall be applicable to the plural; and
the term "his" or "her" shall apply to a "female" as well as
“male,” unless there be something in the subject-matter or context
repugnant to such construction.
112. Ratification of Acts of Present Directors.
That the acts, deeds, matters, and things which, to the day of the
date of the certification of these presents, have been done, executed,
and performed by the present directors of the society, or any or
either of them, or by the order or direction of them, or any or
either of them, in regard to the business of the society, and the
funds or property thereof, or in anywise relating thereto, be, and is,
and are hereby ratified and confirmed.†
[Here should follow the Schedule to the Rules containing the
several Forms of Certificates to be given by Coroner, Surgeon, or
Physician, and the Certificate of the Registrar, and Actuary, the
latter of whom must also sign the Rules and Tables at the foot
thereof.
And at the end of the Tables and Conditions of Assurance should
be placed the Certificate of three members recognizing the Rules,
Tables, &c., as the Rules, Tables, &c., of the Society, countersigned
by the manager, or other chief officer.]
* In case of appeal to justices, as where no arbitrators are appointed, or no
award made, or award is required to be enforced, the 2 & 3 Vict. c. 71, s. 14 (an
Act for Regulating the Police Courts in the Metropolis), any one magistrate
of the Metropolitan Police Courts is authorized to do alone any act at any one
of those courts which is directed to be done by more than one justice, by this
Act.
+ Under the 46th section of this Act, societies enrolled under any of the re-
pealed Acts, not hereafter assuring greater sums than those allowed by this Act,
are entitled to all the exemptions and privileges thereby conferred upon any society
established thereunder without any act to be done by them, except only where
they are desirous of obtaining any of the privileges or powers contained in the
Act, the particulars, &c., connected with which it is necessary to set forth in the
rules; and in that case, it will be necessary to alter their rules, and make such
alterations in conformity with, and in the manner prescribed by the Act under
which they are enrolled. This applies to the mode of proceeding required to be
taken in case of an alteration of rules, especially as to the convening of a general
meeting of members, and the number of affirmative votes necessary to be procured
before such alteration can be legally accomplished.

99
University PARSONS
LIBRARY
of
MICHIGAN
APPENDIX.
I. STATUTE, REPORT, EVIDENCE, &c.
13 & 14 VICT. C. 115.
An Act to Consolidate and Amend the Laws Relating to Friendly
Societies.
[15th August, 1850.]
Whereas many societies have been established in Great Britain and
Ireland for the purpose of affording relief and maintenance to the
members thereof in sickness, old age, or infirmity, and for other purposes
of a provident and benevolent nature; and it is expedient to amend the
laws relating to such Friendly Societies, and to make further provision
for protection of the members against fraud and misapplication of their
funds, and to consolidate the same in one Act: be it therefore enacted by
the Queen's Most Excellent Majesty, by and with the advice and consent
of the Lords Spiritual and Temporal, and Commons, in this present Par-
liament assembled, and by the authority of the same, that an Act passed
in the tenth year of His late Majesty King George the Fourth, intituled
An Act to consolidate and amend the Laws relating to Friendly
Societies; and also an Act passed in the second year of His late
Majesty King William the Fourth, intituled An Act to Amend an Act of
the Tenth Year of His late Majesty King George the Fourth, by ex-
tending the Time within which pre-existing Societies must conform to
the Provisions of that Act; and also an Act passed in the fourth and
fifth years of His late Majesty King William the Fourth, intituled An
Act to Amend an Act of the Tenth Year of His late Majesty King
George the Fourth, to Consolidate and Amend the Laws Relating to
Friendly Societies; and also an Act passed in the session of Parliament
held in the third and fourth years of Her present Majesty, intituled An
Act to Explain and Amend the Acts Relating to Friendly Societies;
and also an Act passed in the session of Parliament held in the ninth and
tenth years of Her present Majesty, intituled An Act to Amend the
Laws Relating to Friendly Societies, shall be and the same are hereby
repealed, except so far as any of the said Acts repeal the whole or any
part of any other Acts, and except so far as the same may be applicable
to any Benefit Building Society established under an Act passed in the
session of Parliament held in the sixth and seventh years of the reign of
His late Majesty King William the Fourth; provided nevertheless, that
such repeal shall not invalidate or affect anything which has been done
before the passing of this Act in pursuance of any of the said Acts:
provided also, that the provisions of the said Acts, except as hereinafter
provided, shall continue in force, as to all societies established under any
or either of them before the passing of this Act.
II. And be it enacted, that it shall be lawful for any number of
persons to establish a society or branch of the same under the provisions
of this Act, for the purpose of raising by voluntary subscriptions.of.the
H 2
Objects for which
Friendly Societies
may be esta-
blishes,
100
APPENDIX.
Act limited to
societies not
assuring above
£100, or annuity
of £30, or allow-
ance of 20s. per
week in sickness.
No sum to be
paid on the death
of a child except
for funeral.
Certificate of sur-
geon or coroner
required before
money is paid on
death of a
member.
3.
members thereof with or without the aid of donations, a fund for any of
the following objects; that is to say,
1. For insuring a sum of money to be paid, on the death of a member,
to the widower or widow of a member, as the case may be, or to
the child, or to the executors, administrators, or assigns, of such
member, or for defraying the expense of the burial of a member,
or of the husband, wife, child, or kindred of a member; subject
always to the restrictions hereinafter enacted in that behalf:
2. For the relief, maintenance, or endowment of the members, their
husbands, wives, children, or kindred, in infancy, old age, sick-
ness, widowhood, or any other natural state of which the proba-
bility may be calculated by way of average :
3. For insuriug or making good any loss or damage of live or dead
stock, goods, or stock in trade, implements, and tools, sustained
by any member by fire, flood, shipwreck, or any contingency of
which the probability may be calculated by way of average:
4. For the frugal investment of the savings of the members for better
enabling them to purchase food, firing, clothes, or other neces-
saries, or the tools, implements, or materials of their trade or
calling, or to provide for the education of their children or
kindred: provided, that the shares in any such investment society
shall not be transferable, and that the investment of each member
shall accumulate or be employed for the sole benefit of the
member investing, or of the husband, wife, children, or kindred of
such member, and that no part thereof shall be appropriated to
the relief, maintenance, or endowment of any other person whom-
soever; and that the whole amount of the balance due, according
to the rules of such society, to such member, shall be paid to him
or her on withdrawing from such society:
5. For the purpose of enabling any member, or the husband, wife, or
children, or nominee, of such member, to emigrate; provided
that, in case of any society for that purpose, one of the trustees
shall be a justice of the peace residing in and acting for the county,
borough, or place in which such society shall be established:
6. For any purpose which shall be certified to be legal in England or
Ireland by Her Majesty's Attorney General, or in Scotland by the
Lord Advocate, as a purpose to which the powers and facilities of
this Act ought to be extended :
Provided always, that it shall not be lawful for any society or branch
established under this Act to assure the payment to or on the death of
any member, or on any contingency, or for any of the purposes for
which the payment of sums may be assured under this Act, of any
sum exceeding one hundred pounds, nor any annuity exceeding thirty
pounds per annum, nor a sum in sickness exceeding twenty shillings per
week.
III. And be it enacted, that in all societies established under the pro-
visions of this Act, or of any Act relating to Friendly Societies, it shall not
be lawful for the trustees or other officers of such societies to assure a sum
↓
of money to be paid on the death of a child, whether member such
society or not, under the age of ten years, except the actual funeral ex-
penses, not exceeding three pounds in case of such child, to be paid to
the undertaker or person by whom the burial is conducted, and whose
receipt alone shall be sufficient discharge to the society, nor to pay any
sum of money which may have been insured and become payable on the
death of any member thereof, or of the husband, wife, or child of any
member, unless the party applying for the same shall produce and deliver
to the officer a certificate, signed by a physician, surgeon, apothecary, or
coroner, in the form (D) set forth in the schedule to this Act annexed,
except in cases where from the nature of the circumstances it is im-
13 & 14 VICT. C. 115.
101
possible to procure such certificate; and if any officer of such society
shall pay or cause to be paid such sum of money as aforesaid without
such certificate as aforesaid, such officer shall be liable to a penalty not
exceeding ten pounds, to be recoverable before any justice of the peace or
magistrate of any borough where such society is established; and, upon
conviction thereof, one half of the said penalty shall be paid to the
informer, and he is hereby declared to be competent to give evidence in
this case, and the other half shall be paid to the overseer of the parish in
which the place of business of such society or branch is situated, to be
applied to the relief of the poor therein.
IV. And be it enacted, that it shall be lawful for the persons intending
to establish under the provisions of this Act a Friendly Society or branch
thereof to make or adopt rules for the government and guidance of the
same, and to make such provision in the rules as they shall think fit, for
ordaining, repealing, altering, or amending any rules, and to impose
reasonable fines and forfeitures on any member offending against the
regulations of the same, and to form a general committee or board of
management, and to delegate to the same all or any of the powers given
by this Act, to be executed either with respect to the management of the
society or branch, or the enactment, amendment, repeal, or alteration of
the rules thereof; and in such rules there shall distinctly be set forth,
1. The name and designation of such society or branch, and place
where the business thereof is carried on, the whole of the objects
and intentions for which it is founded, the whole of the purposes to
which the funds thereof are applicable according to the rules and
tables thereof, and the conditions under which any member, or
party claiming under or by a member, may become entitled to
any benefit assured thereby :
2. The manner of making, repealing, or altering rules, of appointing
trustees, a treasurer, and an officer who shall keep the books and
accounts, and prepare the returns required by this Act, a general
board or committee of management, and the duties and powers
of each:
3. The mode in which the funds shall be invested :
4. The manner in which disputes between the society or branch, and
any member thereof, or person claiming on account or through
any member, shall be settled.
V. Provided always, and be it enacted, that the rules of every such
society or branch shall provide that all monies received or paid on account
of each and every particular fund or benefit assured to the members
thereof, their husbands, wives, children, or kindred, for which a separate
table of contributions payable shall have been adopted, shall be entered
in a separate account distinct from the monies received and paid on
account of any other benefit or fund.
VI. And be it enacted, that such society or branch shall not be deemed
to be legally established under this Act, nor be entitled to any of the pro-
visions of the same, unless the rules, and every amendment of rules or
tables made from time to time thereof, shall have been duly certified by
the Registrar as hereinafter provided.
Power to repeal
or alter rules, and
appoint com-
mittee and
officers.
Separate accounts
to be kept of
money paid and
particular fund or
benefit.
received for each
Society or branch
not legally esta-
blished till rules
certified.
certificate.
VII. And be it enacted, that two printed or written copies of all rules Registrar to give
and tables adopted by such society or branch, together with the name
and residence of every trustee thereof, signed by three members, and
countersigned by the clerk or steward or other officer, with all convenient
speed after the same shall be made, altered, or amended, and so from
time to time after every making, altering, or amending thereof, shall be
transmitted to the Registrar of Friendly Societies in England, Scotland,
or Ireland, as the case may be; and so soon as the said Registrar shall
find the said rules to be framed in conformity with law, and that no rule
or part thereof is repugnart to another, and that the same are reasonable
102
APPENDIX.
Societies.
Certified Friendly and proper, he shall register the same; and if such rules and tables have
been certified under the hand of the Actuary to the Commissioners for Re-
duction of the National Debt, or by some other actuary who shall have
been for more than five years an actuary of some life assurance company
established in London, Edinburgh, or Dublin, in the form set forth in
Schedule (C) to this Act annexed, and signed by him at the foot both of
the rules and tables, or shall have been furnished to such society or
branch by the Registrar, the Registrar shall give a certificate in the form
set forth in Schedule (B) to this Act annexed, and such society or branch
Registered Socie- shall be denominated Certified Friendly Society; but if such rules and
tables shall not have been so certified by an actuary as above mentioned,
in such case the Registrar shall give a certificate in the form set forth in
Schedule (A) to this Act annexed, and such society or branch shall be
denominated Registered Friendly Society; and the Registrar shall
return one of the copies to the society or branch, and shall keep the other
in such manner as shall be from time to time directed by one of Her
Majesty's Principal Secretaries of State; and all rules, alterations, or
amendments thereof, when certified as aforesaid, shall be binding on the
several members, and all persons claiming by or under them.
ties.
Societies granting
annuities to have
tables of such
annuities certified
by actuary.
Fees to be paid to
Registrar for
certificates.
Appointment and
salary of Regis-
trar.
Treasurer to give
bond.
VIII. Provided always, and be it enacted, that it shall not be lawful
for the Registrar to grant any certificate to any society assuring to any
member thereof a certain annuity, deferred or immediate, unless the tables
of contributions payable for such kind of assurance shall have been cer-
tified by an actuary as aforesaid or furnished by the Registrar.
IX. And be it enacted, that for every such certificate of rules of any
Friendly Society a fee of one guinea shall be paid to the Registrar, and
for every certificate of rules of any branch of such society a fee of two
shillings and sixpence; and for every certificate of amendment, repeal, or
alteration of rules of any society or branch a fee of two shillings and six-
pence shall be paid to the Registrar.
X. And be it enacted, that the future Registrars of Friendly Societies
in England, Scotland, and Ireland respectively shall be appointed by the
Commissioners for the Reduction of the National Debt, and shall hold office
during the pleasure of the said commissioners; and it shall be lawful for
Her Majesty to grant to the Registrar in England already appointed a
salary not exceding one thousand pounds by the year, and to every Regis-
trar in England hereafter to be appointed a salary not exceeding eight
hundred pounds by the year, and to every Registrar in Ireland and Scot-
land respectively already or to be hereafter appointed such a salary as to
the Commissioners of Her Majesty's Treasury shall seem meet, and every
such salary shall be paid by four equal quarterly payments; and any Regis-
trar who shall be appointed, or shall die, resign, or be removed from his
office, in the interval between two quarterly days of payment, shall be
entitled to a part of his salary proportional to that part of such quarter of
a year during which he shall hold his appointment.
XI. And be it enacted, that every treasurer of any society or branch
established under the provisions of this Act, before he shall be admitted
to take upon him the execution of any such office, shall become bound in
a bond according to the form set forth in Schedule (E) to this Act
annexed, with two sufficient sureties, for the just and faithful execution of
such office, and for rendering a just and true account according to the
rules of such society or branch, in such penal sum of money as by the
trustees or board of management shall be deemed expedient; and every
such bond to be given by or on behalf of such officer shall be given to the
trustees of the said society or branch for the time being; and in case of
forfeiture it shall be lawful to sue upon such bond in the name of the
trustees for the time being, for the use of the said society or branch; pro-
vided that such bond shall have in Scotland the same force and effect as a
bond in the form in use in Scotland containing a clause of registration.
13 & 14 VICT. C. 115.
103
XII. And be it enacted, that the trustees or treasurer for the time Trustees, &c. to
being of any such society or branch, or of any society already established invest funds.
under any of the Acts relating to Friendly Societies, shall and they are
hereby required, from time to time, by and with the consent of such
society or branch, to be had and testified in such manner as the rules
shall direct, to lay out and invest such part of all sums of money as shall
at any time be collected, given, or paid to and for the purposes of such
society, as may not be wanted for the immediate use thereof, or to meet
the usual accruing liabilities of such society or branch, in the names of
such trustees, in any savings banks, subject to the provisions of Acts in
force relating to the same, or in any of the Parliamentary stocks or public
funds of Great Britain or Ireland, or at interest upon Government
securities, or in Bank of England stock, or in the stock or securities of
the Honourable East-India Company, or on mortgage of freehold, lease-
hold, or copyhold property, such leasehold being for a term of years
absolute of which not less than thirty years shall be unexpired, and such
copyhold being copyhold of inheritance in Great Britain or Ireland, or
on security of any heritable property, or in any chartered or other public
joint-stock bank in Scotland, or in or upon the security of any county or
borough rates authorized to be levied and mortgaged by any Act of Par-
liament, or on loan to any member of any such society on the security of
any policy of assurance effected on his own life, provided that the amount
of such loan shall not exceed the actual estimated value of such policy at
the time such loan be made; and from time to time, with such consent as
aforesaid, to alter and transfer such securites and funds, and to make sale
thereof respectively; and all dividends, interests, and proceeds which
shall from time to time arise from the monies so laid out or invested as
aforesaid shall be brought to account by such trustees, and shall be ap-
plied to and for the use of such society or branch, according to the rules
thereof: provided always, that it shall be lawful for the trustees or trea-
surer as aforesaid, with the consent of such society or branch as aforesaid,
to purchase, hire, or take upon lease any room or premises for the pur-
pose of holding therein the meetings of such society or branch, or for the
transaction of business relating thereto, and to hold the same in trust in
and for the use of such society or branch, and to sell, exchange, let, and
demise the same in whole or in part with the consent as aforesaid.
XIII. And be it enacted, that all hereditaments, monies, goods, chat-
tels, and effects whatever, and all titles, securities for money, or other
obligatory instruments and evidences or muniments, and all rights or
claims, belonging to or had by such society or branch, shall be vested in
the trustees or trustee for the time being of the same, for the use and
benefit of such society or branch, and the respective members thereof,
their respective executors or administrators, according to their respective
claims and interests, and after the death or removal of any trustees or
trustee shall vest in the succeeding trustees or trustee for the same estate
and interest as the former trustees or trustee had therein, and subject to
the same trusts, without any conveyance or assignment whatever, except
the transfer of stocks and securities in the public funds of Great Britain
and Ireland; and also shall, for all purposes of action or suit, as well
criminal as civil, in law or in equity, in anywise touching or concerning
the same, be deemed and taken to be, and shall in every such proceeding
(where necessary) be stated to be, the property of the person or persons
appointed to the office of trustee of such society for the time being, in his
or their proper name or names, without further description; and such
persons or person shall and they are hereby respectively authorized to
bring or defend, or cause to be brought or defended, any action, suit, or
prosecution, criminal as well as civil, in any court of law or equity, touch-
ing or concerning the property, right, or claim aforesaid, of or belonging
to or had by such society or branch; and such persons shall and may in
Property vested
in trustees.
104
APPENDIX.
Trustees may sue
may be sued.
No
person to be
deemed a trustee
until his appoint-
ment shall have
been forwarded to
the Registrar.
Limitation of
responsibility of
treasurer, &c.
Treasurer, &c.
liable for money
actually received.
Trustees to trans-
mit annual return
to Registrar.
In default of such
return, trustees to
be incapable of
bringing action.
Quinquennial
returns to be sent
to Registrar.
all cases concerning the property, right, or claim aforesaid of such society,
sue and be sued, plead and be impleaded in any Court of Law or Equity,
in their or his proper names or name, as trustees or trustee of such
society or branch, without other description; and no such suit, action,
or prosecution shall be discontinued or abate by the death of such person
or his removal from the office of trustee, but the same shall and may be
proceeded in by the succeeding trustees or trustee in the proper name of
the person commencing the same, and such succeeding trustees or trustee
shall pay or receive like costs as if the action or suit had been commenced
in his or her name, for the benefit of or to be reimbursed from the funds
of such society or branch: provided always, that no person shall be
deemed to be a trustee under the meaning of this Act until the resolution
of the society or branch appointing him trustee shall have been trans-
mitted, under the hand of three members of the society or branch, and
signed by such trustee, counter-signed by the clerk or other principal
officer, to the Registrar, to be by him deposited with the rules of the
society or branch in his custody as aforesaid.
XIV. And be it enacted, that no treasurer or trustee, or other officer
of any society or branch established under the authority of this Act, shall
be liable to make good any deficiency which may arise in the funds
thereof unless he shall have declared, by writing under his hand, to be
deposited with the Registrar, that he is willing so to be answerable; and
it shall be lawful for each of such persons to limit his responsibility to
such sum as shall be specified in such writing: provided always, that
every treasurer, trustee, and other officer shall be personally responsible
and liable for all monies actually received by him on account of or for the
use of such society or branch.
XV. And be it enacted, that the trustees or other officer of every such
society or branch in whose charge the accounts of the said society are
kept, shall once in every year prepare or cause to be prepared a general
statement of the funds and effects of such society or branch during the
past twelve months, in such form as shall enable the Registrar to make
a return under the several heads set forth in Schedule (F) to this Act
annexed, as accurately as such officer may be able to furnish the informa-
tion required, and shall transmit the same to the Registrar on some day
before the first of September in each year; and every such statement
shall be attested by two trustees of such society, and by the auditor,
any such shall have been appointed, and shall be countersigned by the
officer who keeps the accounts of such society; and every member shall
be entitled to receive from the said society a copy of such statement on
payment of sixpence.
XVI. And be it enacted, that if in any year such statement shall not
have been transmitted as aforesaid on or before the last day of September,
the Registrar shall give notice to the trustees of such society or branch;
and if the said statement shall not have been transmitted on or before
the last day of December following, or if any fraudulent or wilfully false
return shall have been transmitted, such trustees are hereby declared to
be incapable of prosecuting any action in any Court of Law or Equity on
behalf of such society or branch until they shall have duly furnished to
the Registrar such statement as aforesaid.
XVII. And whereas it is desirable, for the better security of Friendly
Societies, that correct calculations of tables of payment and allowances
dependent on the duration of sickness and the probabilities of human life
should be constructed for their assistance; and it is expedient to collect
data and facts resulting from the experience of such societies from time
to time, for the purpose of correcting such calculations: be it enacted,
that the trustees or other officers as aforesaid of every society or branch
established under the provisions of this Act, in which any benefits are
assured for an allowance in sickness, an annuity, deferred or immediate,
13 & 14 VICT. C. 115.
105
or a sum to be paid on death, shall, within three months after the expi-
ration of the month of December, one thousand eight hundred and fifty-
five, and so again within three months after the expiration of every five
years succeeding, transmit to the Registrar a return of the rate of sick-
ness and mortality experienced by the society or branch within the pre-
ceding five years, in such form as shall be prepared for that purpose, and
furnished to the trustees of every such society or branch, by the said
Registrar, under the direction of one of Her Majesty's Principal Secre-
taries of State.
XVIII. And be it enacted, that the Registrar shall cause to be made
an abstract and report of all such annual and quinquennial returns, and
shall lay the same before one of Her Majesty's Principal Secretaries of
State, and before both Houses of Parliament.
XIX. And be it enacted, that whenever it shall happen that any person
in whose name any part of the several stocks, annuities, and funds trans-
ferable at the Bank of England, or in the books of the Governor and
Company of the Bank of England, is or shall be standing as a trustee
of
any such society or branch, shall be out of England, Ireland, or Scot-
land respectively, or shall have been removed from his office of trustee,
or shall be a bankrupt, insolvent, or lunatic, or it shall be unknown
whether such trustee is living or dead, it shall be lawful for the Registrar
to direct that the Accountant-General, secretary, or deputy secretary, or
other proper officer for the time being of the Governor and Company of
the Bank of England, do transfer in the books of the said company such
stock, annuities, or funds standing as aforesaid to and into the name of
the newly-appointed trustee or trustees, and also pay over to such person
or persons as aforesaid the dividends of such stock, annuities, or funds;
and whenever it shall happen that one or more only, and not all or both,
of such trustees as aforesaid, shall be so absent, or have been removed,
or be a bankrupt, insolvent, or lunatic, or it be unknown whether any
one or more of such trustees be living or dead, it shall be lawful for the
said Registrar to direct that the other and others of such trustees do
transfer such stock, annuities, or funds to or into the name of such person
so appointed trustee as aforesaid, jointly with the continuing trustees, if
any, and also receive and pay over the dividends of such stock, annuities,
or funds, as such society shall direct.
XX. And be it enacted, that this Act shall be a full and complete
indemnity and discharge to the Governor and Company of the Bank of
England, and their officers and servants, for all acts and things done
pursuant hereto; and such acts and things shall not be questioned
or impeached in any Court of Law or Equity to their prejudice or
detriment.
XXI. And be it enacted, that the provisions of an Act passed in the
thirty-ninth year of the reign of King George the Third, intituled An
Act for the more effectual Suppression of Societies established for Sedi-
tious and Treasonable Purposes, and for better preventing Treasonable
and Seditious Practices; and also of another Act passed in the fifty-
seventh year of the reign of King George the Third, intituled An Act
for the more effectual preventing Seditious Meetings and Assemblies,
shall not extend to any society or branch established under this Act, in
which benefits are assured to the members depending on the laws of sick-
ness and mortality, or to any meeting of the members or officers thereof,
in which society or branch, or at which meeting, no business whatever is
transacted other than that which directly and immediately relates to the
objects of the society or branch, as declared in the rules thereof, as they
are set forth in the certified copy thereof: provided always, that the
trustees or other officers of such society or branch, when required under
the hand of two of Her Majesty's justices of the peace, shall give full
information to such justices of the nature, objects, proceedings, and
Registrar to pre-
pare abstract of
returns to be laid
before Parliament.
When trustees
shall be absent,
&c. Registrar
may order stock
to be transferred
and dividends
paid.
Act to be an
indemnity to the
Bank.
57
Provisions of 39
G. 3, c. 79, and of
G. 3, c. 19, not
Friendly Societies
under this Act.
to extend to
106
APPENDIX.
Disputes between
society and trus-
tees to be settled
Questions of
equity to be
settled by County
Court, or Sheriff
Court of Scotland.
practices of such society or branch, and in default thereof the provisions
of the said recited Acts shall be in force with regard to such society or
branch.
XXII. And be it enacted, that if any dispute shall arise between the
members, or person claiming under or on account of any member, of any
according to rules. society or branch established under this Act, and the trustees, treasurer,
or other officer or committee thereof, it shall be settled in such manner
as the rules of such society or branch shall direct, and the decision so
made shall be binding and conclusive; but if such dispute be of such kind
that for the settlement of it, according to the laws now in force,
recourse must be had to one of Her Majesty's Courts of Equity, or to
the Court of Session, it may be referred, at the option of either party,
to the Judge of the County Court, or of the Sheriff Court in Scotland,
who shall proceed ex parte, on notice in writing to the other of the said
parties being left at his usual place of residence or abode ten days pre-
viously; and he is hereby authorized to require of all parties who are
or may have been members, trustees, or officers of such society to produce
before him all books or other documents relating to the concerns of such
society; and thereupon, if he shall so think fit, it shall be lawful for
him to determine the said dispute, and to displace any such trustee or
officer, or to make such award as the justice of the case, in his
opinion, may require, and such decision or award shall be binding and
conclusive.
Rules for arbitra-
tion, where such
is appointed by
rules.
Justices may
enforce the award.
XXIII. And be it enacted, that if it shall be provided by the rules of
such society or branch that disputes which may arise between any member
thereof and the trustees, committee, or officers on the part of the society
shall be settled by arbitration, the number of arbitrators and mode of
election shall be stated in the rules; and in case any of such arbitrators
shall at any time neglect or refuse to act, the members of such society
or branch at a general meeting, or general committee thereof, are hereby
required forthwith to elect and appoint some other person to be an
arbitrator in his place; and the rules shall direct in what manner such
arbitrators, or any of them, shall proceed to determine such disputes;
and the award so made by them, or so many as may be appointed for
the purpose, according to the rules, shall be final and binding on all
parties without appeal, and shall not be removed to any Court of Law
or Equity; and if either of the said parties shall refuse or neglect to
comply with or conform to the decision of the said arbitrators, or the
major part of them, it shall and may be lawful for any one justice of
the peace for the county within which such society shall be established,
upon good and sufficient proof being adduced before him of such award
having been made, and of the refusal of the party to comply therewith,
upon complaint made by or on behalf of the party aggrieved, to summon
the person against whom such complaint shall be made to appear at a
time and place to be named in such summons, and upon his or her
appearance, or in default thereof, upon due proof upon oath of the service
of such summons, to make such order thereupon as may to him seem
just; and if the sum of money awarded, together with the sum for costs,
not exceeding the sum of ten shillings, as to such justice shall seem
meet, shall not be immediately paid, then such justice shall, by warrant
under his hand, cause such sum and costs as aforesaid to be levied by
distress, or by distress and sale of the monies, goods, chattels, securities,
and effects belonging to the said party, or to the said society, together
with all further costs and charges attending such distress and sale or
other legal proceedings, returning the overplus (if any) to the said party,
or to the said society, or to one of the trustees thereof; and in default
of such distress being found, or in case of such other legal proceeding
being ineffectual, then to be levied by distress and sale of the proper
goods of the said party or of the officer of the said society so neglecting or
13 & 14 VICT. C. 115.
107
refusing as aforesaid, together with such further costs and charges as
aforesaid, returning the overplus (if any) to the owner: provided always,
that whatever sums shall be paid by any such officer so levied on his or
her property or goods, in pursuance of the award of arbitrators, or order
of any justice, shall be repaid, with all damages accruing to him or her,
by and out of the monies belonging to such society, or out of the first
monies which shall be thereafter received by such society.
XXIV. And be it enacted, that if the rules of any such Friendly So-
ciety or branch shall have provided for the settlement of disputes by
arbitration, but no arbitrator shall have been appointed, or no award
shall have been made within forty days after such complaint has been
made to the officers of such society or branch, or if the rules shall have
directed that any dispute between the members and the trustees or other
officer on the committee of management shall be settled by justices of the
peace, then it shall be lawful for any justice of the peace acting in the
county or borough in which the principal business of the society or
branch is carried on, on complaint being made to him by any member,
or person claiming under a member thereof, of any matter in dispute
between him and such society or branch, to summon the person against
whom such complaint shall be made to appear at a time and place to be
named in such summons; and upon his appearance, or in default thereof
upon due proof on oath of the service of such summons, it shall be lawful
for any two justices to proceed to hear and determine the said complaint;
and in case the said justices shall order any sum of money to be paid by
such person against whom such complaint shall be made, and such person
shall not pay the same to the person and at the time specified by such
justices, they shall proceed to enforce their order in the manner herein-
before directed to be used in case of any neglect to comply with the
decision of the arbitrators appointed under the authority of this Act.
XXV. And be it enacted, that in case any member of any such society
or branch shall have been expelled from such society, and the award of
the arbitrators or the order of the justices shall direct that he or she shall
be reinstated, it shall be lawful for such arbitrators to award or justices to
order, in default of such reinstatement, such a sum of money to be paid
to such member by the trustees of such society as to such arbitrators or
justices may seem just and reasonable, which said sum of money, if not
paid, shall be recoverable from the said society or branch, or the trea-
surer, trustee, or other officer, in the same way as any money awarded by
arbitrators is recoverable under this Act.
XXVI. And be it enacted, that for the more effectually preventing
fraud and imposition on the funds of such societies, if any officer, mem-
ber, or any other person being, or representing himself to be, a member
of such society or branch, or the nominee, executor, administrator, or
assignee of any member thereof, or any other person whatever, shall in or
by any false representation or imposition obtain possession of the monies,
securities, books, papers, or other effects of such society or branch, or any
part thereof, or having the same in his or her possession shall withhold
or misapply the same, it shall be lawful for any justice of the peace acting
in the county or borough in which the principal place of business of such
society is situated, upon complaint made on oath or affirmation by an
officer of such society or branch appointed for that purpose, to summon
such person against whom such complaint shall be made to appear at a
time and place to be named in such summons; and upon his or her
appearance, or in default thereof, upon due proof upon oath or affirmation
of the service of such summons, it shall be lawful for any two justices
acting in the county or borough aforesaid to hear and determine the said
complaint; and upon due proof of such fraud the said justices shall con-
vict the said party, and award double the amount of the money so
obtained or withheld to be paid to the treasurer, to be applied by him to
If no arbitrators
appointed, or no
award given,
justices may
decide.
In case member is
unjustly expelled,
arbitrators or
justices may direct
such member to
be reinstated, and
in default may
award a sum of
compensation.
In case of fraud
or imposition on
the funds, justices
may summon the
parties, and hear
the complaint.
Upon proof of
fraud, justices
may award double
the amount
obtained, &c.
108
APPENDIX.
"
.
If money awarded
is not paid, the
same may be
levied by distress
In default of dis-
tress, offender
may be committed
to prison.
Orders of justices
to be final, and
not removable
&c.
the purposes of the society or branch, or order the said securities, books,
papers, or other effects to be delivered to the society or branch, together
with such costs as shall be awarded by the said justices, not exceeding
the sum of twenty shillings; and in case such person against whom such
complaint shall be made shall not pay the sum of money so awarded, to
the person and at the time specified in the said order to deliver the said
effects as aforesaid, such justices are hereby required, by warrant under
their hands and seals, to cause the same to be levied by distress and sale
of the goods of such person on whom such order shall have been made,
or by other legal proceeding, together with such costs as shall be awarded
by the said justices, not exceeding the sum of ten shillings, and also the
costs and charges attending such distress and sale or other legal proceeding,
returning the overplus (if any) to the owner; and in default of such
distress being found, or of such effects as aforesaid being returned, the
said justices of the peace shall commit such person so proved to have
offended to the common gaol or house of correction, there to be kept to
hard labour for such a period not exceeding three calendar months as to
them shall seem fit: provided nevertheless, that nothing herein contained
shall prevent the said society or branch from proceeding by indictment or
complaint against the party complained of; and provided also, that no
party shall be proceeded against by indictment or complaint if a previous
conviction has been obtained for the same offence under the provisions of
this Act.
XXVII. And be it enacted, that every sentence, order, and adjudi-
cation of justices under this Act shall be final and conclusive to all intents
into Court of Law, and purposes, and shall not be subject to appeal, and shall not be removed
or removable into any Court of Law, or restrained or restrainable by the
injunction of any Court of Equity; and that no suspension, advocation, or
reduction shall be competent: provided always, that in Scotland the
sheriff, within his county, shall have such and the like power, authority,
and jurisdiction which is in this Act conferred upon any justice or justices
of the peace, and shall exercise the same in such and the like form and
manner as is used in cases of a summary nature, and in the recovery of
small debts in the County Court.
Treasurers, &c. to
render accounts,
and upon demand
pay over monies,
&c. to party
appointed by
society, &c.;
and in case of
neglect, applica-
tion may be made
to the Registrar,
who shall proceed
thereupon in a
summary way.
On such reference
XXVIII. And be it enacted, that every person who shall have or
receive any part of the monies, effects, or funds of or belonging to any
such society or branch, or shall in any manner have been or shall be
intrusted with the disposal, management, or custody thereof, or of any
securities, books, papers, or property relating to the same, his or her
executors, administrators, and assigns respectively, shall, upon demand
made, or notice in writing given or left at the last or usual place of resi-
dence of such persons, in pursuance of any order of not less than two
trustees or three members of the committee or board of management, give
in his account at the usual meeting of such society or branch, or to such
committee or board of management, to be examined and allowed or dis-
allowed; and shall, on the like demand or notice, pay over all the monies
remaining in his hands, and assign and transfer or deliver all securities
and effects, books, papers, and property, in his hands or custody, to the
treasurer or trustee for the time being, or to such other person as such
committee or board of management shall appoint; and in case of any
neglect or refusal to deliver such account, or to pay over such monies, or
to assign, transfer, or deliver such securities and effects, books, papers,
and property, in manner aforesaid, it shall be lawful to and for the mem-
bers of every such society, or committee or board of management thereof,
in the name of the treasurer or trustee or other officer thereof, to apply
by petition to the Registrar, who shall and may proceed thereupon in a
summary way, and make such order therein as to such Registrar, in his
discretion, shall seem just.
XXIX. And be it enacted, that on any proceedings before the said
13 & 14 VICT. C. 115.
109
Registrar he shall be authorized to inspect and to require the production
before him of all books or other documents relating to the matter in
dispute, and to administer an oath to any witness appearing before him;
and every person who upon such oath shall wilfully and corruptly give
any false evidence before such Registrar shall be deemed to be guilty of
perjury.
XXX. And be it further enacted, that all orders made by the Registrar
under the provisions of this Act shall be final and binding on all parties,
without appeal; and all assignments, orders, transfers, or sales made in
pursuance of such order, shall be valid and effectual in law; and if any
person shall refuse or neglect to obey such order, and shall be convicted
thereof, he shall be deemed guilty of a misdemeanor.
XXXI. And be it enacted, that it shall be lawful for one of Her Ma-
jesty's Principal Secretaries of State from time to time to fix reasonable
fees to be paid on any such proceedings before the Registrar, and all such
fees shall be paid in the first instance by the trustees of the society or
branch; and the Registrar shall determine in and by his award or order
by which of the parties and in what proportion the expense of such fees
shall be finally borne; and the trustees of such society or branch, having
paid such fees, shall be entitled to recover them from the party or parties
against whom they shall be so awarded.
XXXII. And be it enacted, that on the trial of any action, indictment,
or other proceeding respecting the property of any society established
under the provisions of this Act, or in any proceedings before any justice
of the peace, Judge of the County Court, or the Registrar, any member
of such society shall be a competent witness, and shall not be objected to
on account of any interest he may have as such member in the result of
such action, indictment, or other proceeding.
XXXIII. And be it enacted, that a minor may become a member of
any such society or branch, and he is hereby empowered to execute all
instruments, and give all necessary acquittances: provided always, that
such minor shall not be competent during his minority to hold any office
as director, trustee, treasurer, or manager in such society or branch.
XXXIV. And be it enacted, that it shall not be lawful for the mem-
bers of any such society or branch, by any rule or order or resolution,
to dissolve or determine such society or branch, so long as the intents or
purposes declared by the rules of such society, or any of them, remain to
be carried into effect, without obtaining the votes of consent of five-sixths
in value of the then existing members, to be ascertained in manner herein-
after mentioned, and also the consent of all persons then receiving or then
entitled to receive relief either on account of sickness, age, or infirmity,
to be testified under their hands individually and respectively; and for
the purpose of ascertaining the votes of such five-sixths in value every
member shall be entitled to one vote, and an additional vote for every
five years that he may have been a member: provided also, that no one
member shall have more than five votes in the whole; and in all cases of
dissolution the intended appropriation or division of the funds or other
property shall be fairly and distinctly stated in the proposed plan of dis-
solution prior to such consent being given; and it shall not be lawful for
such society or branch by any rule to direct the division or distribution
of such stock or fund, or any part thereof, to or amongst the several
members of such society, other than for carrying into effect the general
intents and purposes declared by the rules originally certified; and all
such rules for the dissolution or determination thereof without such con-
sent as aforesaid, or for the distribution or division of the stock or funds
contrary to the rules, shall be void and of none effect; and in the event
of such division or misappropriation of the funds without the consent
hereby declared to be requisite, any trustee or other officer or person
aiding or abetting therein shall be liable to the like penalties as are in this
Registrar may
inspect books and
administer oaths.
False evidence
perjury.
Orders, &c. to be
binding without
appeal.
Secretary of State
to fix amount of
fees payable on
reference, and
Registrar to deter-
mine who shall
pay them.
Member of
Friendly Society
may be a witness,
Minors may be
members, and
have legal autho-
rity to act, but
not to hold office.
Consent necessary
for dissolution of
society.
110
APPENDIX.
Rules, &c. under
hand of Registrar
to be received
without proof of
signature.
Executors, &c. of
officers of certified
Friendly Societies
to pay money due
to society before
any other debts,
within forty days
after demand in
writing.
Member
belonging to more
than one society
not to be entitled
to benefits exceed
ing £100, or £30
annuity, or 20s.
sickness.
Power to certified
monies with the
National Debt
Commissioners,
Act provided in cases of fraud: provided always, that it shall be lawful
for any two or more societies or branches to become united or incorpo-
rated in one society or branch, upon such terms as shall be approved by
the major part of the trustees and board of management of both societies
or branches.
XXXV. And be it enacted, that all rules, alteration of rules, transcript
or copy of or extracts from all rules and alteration of rules, and all
awards, writings, and documents, of what nature or kind soever, relating
to any society or branch, directed by any Act or Acts of Parliament to
be certified by the Registrar, and purporting to be signed by him,
shall, in the absence of any evidence to the contrary, be received in all
courts of law and equity and elsewhere, without proof of the signature
thereto.
XXXVI. And be it enacted, that if any person appointed to any office
in any Friendly Society or branch thereof established under this Act, and
being intrusted with the keeping of the accounts, or having in his hands
or possession, by virtue of his said office or employment, any monies or
effects belonging thereto, or any deeds or securities relating to the same,
shall die, or become a bankrupt or insolvent, or have any execution or
attachment or other process issued, or action or diligence raised, against
his lands, goods, chattels, or effects, or property or estate, heritable or
moveable, or make any assignment, disposition, assignation, or other
conveyance thereof, for the benefit of his creditors, his heirs, executors,
administrators, or assignees, or other persons having legal right, or the
sheriff or other officer executing such process, or the party using such
action or diligence, shall, within forty days after demand made in writing
by the order of any such society or branch, or of not less than three of
the committee of management assembled at any meeting thereof, deliver
and pay over all monies and other things belonging to such society or
branch to such person as such society or committee shall appoint, and
shall pay out of the estates, assets, or effects, heritable or moveable, of
such person, all sums of money remaining due which such person received
by virtue of his said office or employment, before any other of his debts
are paid or satisfied, or before the money directed to be levied by such
process as aforesaid, or which may be recovered or recoverable under such
diligence, is paid over to the party issuing such process or using such
diligence; and all such assets, lands, goods, chattels, property, estates,
and effects shall be bound to the payment and discharge thereof
accordingly.
XXXVII. And be it enacted, that if any person after the passing of
this Act shall become a member of more than one society or branch, and
thereby be entitled to certain benefits on account of the same kind of
assurance from more than one society or branch, it shall not be lawful
for him to claim or receive such benefit from any or either society or
branch without signing a declaration that the joint value or amount of all
the benefits in any one kind of assurance to which he may be entitled
from any society or societies, branch or branches, of which he may be a
member, does not in the aggregate exceed the amount of one hundred
pounds in one sum, or an annuity of thirty pounds per annum, or a sum
in sickness of twenty shillings per week; and in case such declaration
shall not be true, such member shall be liable to the penalties herein-
before enacted in case of fraud.
XXXVIII. And be it enacted, that it shall be lawful for any certified
societies to invest society, or certified branch thereof, established under this Act, to pay
directly into the Bank of England any sum of money not less than fifty
pounds to the account of the Commissioners for the Reduction of the
National Debt, upon the declaration of the treasurer or trustees of such
society or branch, or any two or more of them, that such monies
belonging exclusively to the society or branch for which such payment is
13 & 14 VICT. C. 115.
111
intended to be made; and the cashier of the Bank of England is hereby
required to receive all such monies, and to place the same to the account
raised in the names of the said commissioners for the time being in the
books of the bank, denominated "The Fund for Friendly Societies;"
and in case such declaration shall not be true, then and in every such
case the sum of money paid in on such declaration shall be forfeited to
the said commissioners, and applied by them in the manner directed by
an Act passed in the ninth year of the reign of King George the Fourth,
intituled An Act to Consolidate and Amend the Laws relating to
Savings Banks; and all the clauses and provisions of the Acts for the
time being in force relating to savings banks, with respect to the account
of such banks, and the regulation of receipts, certificates, or orders con-
cerning the same, shall be applicable to the monies so paid in as aforesaid
under the authority of this Act, as if the same had been repeated herein
and every such society or branch shall, on paying money directly into
the bank as aforesaid, be entitled to receive receipts bearing interest at
the rate of twopence per centum per diem: provided always, that no
fractional part less than one penny shall be allowed or paid as interest
upon the principal sum contained in such receipt.
XXXIX. And be it enacted, that, except as hereinafter provided, no
order of the Registrar, or copy of rules, power, warrant, or letter of
attorney granted by any person as trustee of any society or branch esta-
blished under this Act, for the transfer of any share in the public
funds standing in the name of such trustee, nor any receipt for money
contributed to the funds of any such society or branch, or received by
any member, his executors, administrators, assigns, or attornies, from
the funds of such society, nor any bond to be given to or on account of
any such society or branch, or by the treasurer or trustee or any officer
thereof, nor any draft or order, nor any form of policy, nor any ap-
pointment of any agent, nor any certificate or other instrument for the
revocation of any such appointment, nor any other document whatever
required or authorized by or in pursuance of this Act, shall be subject or
liable to or charged with any stamp duty.
XL. And be it enacted, that when on the death of any member of any
such certified Friendly Society, or any certified branch, or of any Friendly
Society already established, any sum not exceeding fifty pounds shall
become payable, it shall be lawful for the trustees for the time being of
such society, if they shall be satisfied that no will was made and left by
such deceased member, and that no letters of administration or confirma-
tion will be taken out of the funds, goods, and chattels of such depositor,
to pay the same to the widower or widow of such member, as the case
may be, or to the child of such member, if so directed by any rule of such
society or branch; and in case there shall be no such direction, then to
pay and divide the same to and amongst the person or persons entitled
to the effects of the deceased intestate, without taking out letters of
administration in England and Ireland, and without confirmation in
Scotland.
XLI. And be it enacted, that whenever the trustees of any certified
Friendly Society or branch, at any time after the decease of any member,
shall have paid and divided any sum of money to or amongst any person
or persons who shall at the time of such payment appear to such trustees
to be entitled to the effects of any deceased intestate member, the pay-
ment of any such sum or sums of money shall be valid and effectual with
respect to any demand of any other person or persons as next of kin of
such deceased intestate member, or as the lawful representative or repre-
sentatives of such member, against the funds of such society or branch,
or against the trustees thereof; but nevertheless such next of kin or
representatives shall have remedy for such money so paid as aforesaid
against the person or persons who shall have received the same.
upon declaration
that they belong
exclusively to the
society.
In case declara-
tion not true,
money to be for-
feited, and applied
in manner
directed by 9 G. 4,
c. 92.
Powers of attor-
ney, &c. not liable
to stamp duty.
For payment of
sums not exceed-
ing £50 when
intestate.
members die
Payments to per-
to trustees to be
sons who appear
entitled to effects
of deceased
declared valid;
intestate members
but next of kin,
remedy against
the party who
receives the same.
&c. to have
112
APPENDIX.
Payment on death
of members to be
made to executors,
&c. and not to
nominees.
Existing Friendly
Societies not to
invest with
National Debt
Commissioners,
except for
assurances made
before passing of
this Act.
Declaration to be
made by trustees
on investment.
If declaration no
true, money to be
forfeited and
applied in manner
directed by 9 G. 4,
c. 92.
Exemption from
stamp duty not
applicable to
societies granting
assurances above
the limits of this
Act.
Societies esta-
blished under
repealed Acts to
be entitled to
exemptions and
privileges of this
XLII. And be it enacted, that from and after the passing of this Act
it shall not be lawful for any society established under any Act hereby re-
pealed to grant any assurance whereby the sum assured on the death of
the member shall be payable to any nominee or to any other person than
the widower or widow of a member, as the case may be, or the child,
or the executors, administrators, or assigns of such member; or in
case the member shall die intestate, and the sum payable on his
death shall not exceed fifty pounds, to the person whom the trustees shall
consider entitled to the goods and effects of the member so dying
intestate provided always, that nothing in this Act contained shall affect
any power, privilege, or exemption in respect of any assurance legally
made or granted before the passing of this Act under the provisions of
any of the Acts hereby repealed: provided also, that it shall be lawful
for any such society to add to its rules a rule or rules whereby any sum
payable on the death of a member may be made payable to the executors,
administrators, or assigns of such member.
XLIII. And be it enacted, that no Friendly Society or branch esta-
blished under any Act now in force relating to Friendly Societies shall,
from and after the passing of this Act, be entitled or authorized to pay
directly into the Bank of England any sum of money to the account of
the Commissioners for the Reduction of the National Debt, except so
much as may be paid on account of assurances made previous to the
passing of this Act by any society which has already invested its funds, or
any part thereof, with the said commissioners: provided always, that
nothing herein contained shall affect the right of any society established
under any of the Acts hereby repealed, and which shall have invested its
funds with the Commissioners for the Reduction of the National Debt
before the passing of this Act, to receipts bearing interest at such rate
as such society were entitled to receive under the provisions of the said
Acts, for any monies invested or hereafter to be invested with the said
commissioners on account of assurances made before the passing of this
Act.
;
XLIV. And be it enacted, that from and after the passing of this Act
a declaration shall be made by the trustees of every Friendly Society
established as aforesaid, on the payment into the Bank of England of any
sum of money to the account of the said commissioners, that such pay-
ment is on account of assurances made previous to the passing of this Act,
in such form as the said commissioners shall from time to time direct
and in case such declaration shall not be true, then and in every such
case the sum of money paid on such declaration shall be forfeited to the
said commissioners, to be applied by them in the manner directed by an
Act passed in the ninth year of the reign of King George the Fourth,
intituled An Act to Consolidate and Amend the Laws relating to
Savings Banks.
XLV. And be it enacted, that nothing in the said Acts now in force
relating to Friendly Societies shall be construed to extend to grant any
exemption from stamp duty to any Friendly Society enrolled or certified
under the said Acts which shall after the passing of this Act assure the
payment to or on the death of any member, or on any contingency or for
any purpose to which the payment of sums may be assured under this
Act, of a sum exceeding one hundred pounds, or of any annuity ex-
ceeding thirty pounds per annum, or of a sum in sickness not exceeding
twenty shillings per week.
XLVI. And be it enacted, that every society duly enrolled or certified
under any Act hereby repealed which shall not after the passing of this
Act assure the payment to or on the death of any member, or on any
contingency, or for any purpose for which the payment of sums may be
assured under this Act, exceeding one hundred pounds, or an annuity
Act, if they do not exceeding thirty pounds per annum, or any sum in sickness exceeding
13 & 14 VICT. C. 115.
113
twenty shillings per week, shall enjoy all the exemptions and privileges in
this Act conferred upon any society established under the provisions of
this Act.
XLVII. And be it enacted, that no Friendly Society already established,
nor any certified society or certified branch thereof, which has already
invested, or may hereafter invest any money with the Commissioners for
Reduction of the National Debt, shall be entitled to re-deposit any monies
with them, without the consent of the said commissioners, or of the
Comptroller-General or Assistant-Comptroller in their behalf.
XLVIII. And whereas several benevolent and charitable institutions
and societies are formed by voluntary subscriptions and benefactions for
the purpose of relieving the physical wants and necessities of persons in
distressed circumstances, and it is expedient to afford some protection to
the funds thereof: be it therefore enacted, that if the rules of any such
institution or society, and all alterations and amendments thereof, shall
be registered under the provisions of this Act, then and in that case the
clauses and provisions herein contained, so far as the same relate to the
giving of security from any treasurer or other officer or person, and to
the vesting of the effects in the trustees for the time being, and to their
suing and being sued, and as to the liability of the treasurer or trustee
or other officer, and to the protecting, securing, or recovering the funds
vested or being in such treasurer or trustees, and for enforcing the ren-
dering of accounts by him or them, shall be extended to all and every such
institution or society, which shall have and enjoy and be entitled to the
benefits of this Act, with respect to the several matters as aforesaid, as
fully and effectually as any Friendly Society or branch registered under
this Act can or may have or enjoy the same.
grant assurances
beyond the limits
of this Act.
Societies not to
re-deposit monies
with Commission-
ers for Reduction
of National Debt
without consent of
Comptroller-
General.
Provisions of this
Act may be
applied to bene-
volent and cha-
ritable societies
formed by volun-
tary subscription,
&c. if rules are
registered in pur-
suance of this Act.
XLIX. And be it enacted, that in the construction of this Act, unless Construction of
there shall be something in the subject-matter or context repugnant terms.
thereto, the word "society" shall include every branch thereof; the
word "county" shall include county, riding, division, borough or place;
the word "justice" shall include mayor, high bailiff, sheriff in Scotland,
or other magistrate; the word "Registrar" shall signify the Registrar of
Friendly Societies in England, Scotland, or Ireland, as the case may be;
words importing the singular number shall include the plural number
and words importing the masculine gender shall include females.
L. And be it enacted, that this Act shall be deemed a public Act, and Public Act.
shall extend to Great Britain and Ireland and Berwick-upon-Tweed,
and the Isles of Guernsey, Jersey, and Man.
LI. And be it enacted, that this Act shall be in force for one year from
the passing thereof, and from thence to the end of the then next session of
Parliament.
Act to be in force
for one year.
LII. And be it enacted, that this Act may be amended or repealed by Act may be
any Act to be passed in this session of Parliament.
amended, &c.
SCHEDULES REFERRED TO BY THE FOREGOING ACT.
SCHEDULE (A).
Form of Registrar's Certificate to Rules of Registered Friendly
Societies.
I hereby certify, that these rules [or alterations of rules] are in con-
formity to law and to the provisions of the statute in force relating to
registered Friendly Societies.
A.B.
The Registrar of Friendly Societies in England
[Ireland or Scotland].
Day of
I
114
APPENDIX.
SCHEDULE (B).
Form of Registrar's Certificate to Rules of Certified Friendly
Societies.
I hereby certify, that these rules [or alterations of rules] are in con-
formity to law and to the provisions of the statute in force relating to
certified Friendly Societies.
A.B.
The Registrar of Friendly Societies in England
[Ireland or Scotland].
Day of
I
SCHEDULE (C).
Form of Actuary's Certificate.
hereby certify, that the preceding table or tables, to
each of which my name is subscribed, may be fairly and safely adopted
for the purposes of the
Society, subject to the terms,
conditions, and provisions of clauses Nos.
of the rules, to each of
which my initials are affixed: and I hereby declare, that I consider each
of the said tables fairly to represent for each year or term of age (which
said term does not exceed five years) the rate of contribution necessary
to provide the respective benefits intended to be provided thereby, and
that they are in conformity with the provisions of the Act passed
in the
years of Her present Majesty, chapter
and fairly represent the interest of members entering at those years or
terms of age, without prejudice to any; and that the said tables are cal-
culated on the supposition that the capital of the society will realize at
least
per cent. compound interest [if any addition has
been made to the rates of contribution for expenses of management, here
state the same], and are founded on the rate of sickness and mortality
[here describe the same; and if the data on which the calculation has
been based is published, state the work and date of publication], upon
the following data :-

Age.
Number out of which One
will die in each Year.
Average Amount of Sickness
annually experienced in
each Year.
25
30
220
35
40
45
50
55
60
And I declare, that I have read the rules of the said society, and find
nothing in them inconsistent with the said tables, or which is calcu-
lated, in my opinion, to endanger the stability of the society.
A.B.
Actuary of
Day of
13 & 14 VICT. C. 115.
115
I hereby certify, that
SCHEDULE (D).
Form of Medical Certificate.
late of
Street, died
and I have no reason to attribute his death
the
day of
"
to poison, violence, or criminal neglect.
(Signed)
day of
A.B.
Profession.
Residence.
Form of Coroner's Certificate.
I hereby certify, that I have held an inquest on the body of
late of
who was found dead; and the jury have returned
the following verdict:
And it does not appear to me that he has been deprived of life by
means of any person beneficially interested in obtaining burial money
from any society.
day of
SCHEDULE (E).
Form of Bond.
A.B., Coroner.
Know all men by these presents, that we A.B. of
[or steward, &c.] of the
in the county of
treasurer
Society, established at
and C.D. of
9
and G.H. of
(as sureties on behalf of the said A.B.) are jointly and
severally held and firmly bound to A.B. of
C.D. of
and E.F. of
the trustees of the said society, in the sum of
to be paid to the said A.B., C.D., and E.F. as such trus-
tees, or their successors trustees for the time being, or their certain
attorney, for which payment well and truly to be made we jointly and
severally bind ourselves, and each of us by himself, our and each of our
heirs, executors, and administrators, firmly by these presents sealed with
our seals. Dated the
in the year of our
Lord
day of
Whereas the above-bounden A. B. hath been duly appointed treasurer
[or steward, &c.] of the
Society, established as aforesaid,
and he, together with the above-bounden C.D. and G.H. as his sureties,
have entered into the above-written bond, subject to the condition herein-
after contained: now, therefore, the condition of the above-written bond
is such, that if the said A.B. shall and do justly and faithfully execute his
office of treasurer [or steward, &c.] of the said society established as
aforesaid, and shall and do render a just and true account of all monies
received and paid by him, and shall and do pay over all the monies re-
maining in his hands, and assign and transfer or deliver all securities and
effects, books, papers, and property of or belonging to the said society in
his hands or custody, to such person or persons as the said society shall
appoint, according to the rules of the said society, together with the pro-
per or legal receipts or vouchers for such payments, and likewise shall
and do in all respects well and truly and faithfully perform and fulfil his
office of treasurer [or steward, &c.] to the said society, according to the
rules thereof, then the above-written bond shall be void and of no effect;
otherwise shall be and remain in full force and virtue.
I 2
116
APPENDIX.
SCHEDULE (F).
Heads of Information to be furnished yearly to the Registrars by
every Society.
Return of
society, established at
year ending
DATE of balancing books in each year
MEMBERS:-
Number admitted since last balance
Number died since last balance..
Number withdrawn or expelled ..
Number of members at this date
SICKNESS:-
Male
Female
..
Honorary..
{
Male
Number of members sick in the year Female
Weeks and days of sickness
INCOME:-
Donations and honorary subscriptions
Entrance money
Contributions for sickness
•
Contributions for annuities
•
•
Contributions for sums on death
Contributions for endowments
Interest received.
Total Income
··
Total capital of society [here state where the same is
placed]..
EXPENDITURE :-
Sick pay or allowances
Annuities..
Members
Death of Wives
Endowments
Extra expenses
Total expenditure
OBSERVATIONS :-
·
day of
for the
in the year
To be signed by two trustees and secretary,
treasurer, or other officer.
APPENDIX.
117
REPORT OF SELECT COMMITTEE OF THE
HOUSE OF COMMONS.
5th July, 1850.
THE Select Committee appointed to consider and suggest Means of
removing Obstacles and giving Facilities to safe Investments for the
Savings of the Middle and Working Classes, and who were empow-
ered to Report the Minutes of Evidence taken before them-have
investigated carefully the subject referred to them, have received
evidence, and agreed to the following Report:
YOUR committee think the importance of removing obstructions to the
secure investment of their savings, to the middle and working classes,
can scarcely be overstated; because this is a consideration upon which
the industry, enterprise, and forethought of the classes in question greatly
depend.
Your committee have proceeded to examine existing obstacles to such
investments, and to consider how far it may be practicable to remove
them, and in what manner this may be accomplished.
Investments in land, or landed securities, your committee have reason
to believe are much desired by the middle and working classes; but the
uncertainty and complexity of titles, and the length and expense of
conveyances, together with the cost of stamps, place this species of
investment, generally, beyond the reach of those parties. Mortgages on
land are liable to the same sort of difficulties, and often also prove
insecure investments.
Your committee think that the greatest benefit would be conferred both
upon the owners of land and upon the smaller capitalists desirous of
purchasing land in small portions, or of lending money in small amounts
upon landed securities, by the simplification of titles and the shortening
of conveyances; but as the evils in the present law of real property are
under the consideration of commissioners appointed by Her Majesty for
that purpose, and as a measure for diminishing the duties on stamps for
small conveyances and mortgages is now before the House, they do not
think it necessary to enter into further detail upon this subject.
The Crown is empowered by Act of Parliament, in certain cases, by
charter, to limit the liability of partners. This power, however, has
seldom been exercised, does not seem guided by any clear rule, and
involves expense greater even than that of obtaining an Act of Parliament.
Your committee has in evidence that the benevolent projectors of a useful
undertaking (the Metropolitan Model Lodging Houses for Workmen)
obtained a charter from the Crown, which put them to great delay, and
cost them upwards of £1,000, the account of which is subjoined. In
like manner many enterprises for similar objects are stated to have been
prevented by the trouble and expense of such a charter.
Your committee suggest, therefore, that such charters should be granted
with the greatest caution, but at a far more reasonable cost.
Another subject of complaint before your committee has been the law
of partnership, that places obstacles in the way of any body of work-
men who desire to combine their money and labour in industrial under-
takings.
In some cases several industrious men work together under regulations
of their own, with a small capital; they are directed by managers whom
they choose, the goods produced are sold for their common benefit; and
the profits are divided among the contributors of capital and labour, in
certain proportions agreed to.
118
APPENDIX.
At present the law affords no effectual remedy against the fraud of any
one dishonest contributor or partner; and no summary mode of enforcing
the rules agreed to for mutual government.
Your committee are of opinion that the difficulties which affect the law
of partnership operate with increased severity in proportion to the small-
ness of the sum subscribed, and the number of persons included in
the association. They think that any measures for the removal of these
difficulties would be peculiarly acceptable to the middle and working
classes, and would tend to satisfy them that they are not excluded from
fair competition by laws throwing obstacles in the way of men with small
capitals.
Your committee are of opinion that in ordinary cases individual energy
and larger capital will prevail against the necessarily inferior advantages
which these associations must possess; but this is a consideration which
the parties desirous to associate are justified in deciding for themselves.
And the committee do not doubt that ultimate benefit will ensue from
any measures which the Legislature may be enabled to devise for simplify-
ing the operation of the law, and unfettering the energies of trade.
In concluding the report which is now submitted to the House, your
committee cannot but express their strong opinion of the pressing neces-
sity of the subject now referred to them being speedily attended to by the
Legislature.
The rapid increase in population and in wealth of the middle and
industrious classes within the last half-century renders this of great
consequence.
The great change in the social position of multitudes, from the growth
of large towns and crowded districts, renders it more necessary that
corresponding changes in the law should take place, both to improve their
condition and contentment, and to give additional facilities to investments
of the capital which their industry and enterprise is constantly creating
and augmenting.
It is the conviction of your committee that if such measures were carried
into effect, a stimulus would be given to the industry of the country,
likely to cause additional employment and contentment, without injury to
any class, and with added security to the welfare of all.
EXTRACT FROM MINUTES OF EVIDENCE.
Mr. James Henry James, called in; and Examined.
Chairman.] You are actuary to a building society, are you not?—I
am concerned very largely among them, and with insurance societies, both
mutual and joint-stock.
Do you think that the Building Societies' Act gives considerable faci-
lities and advantages for the investments of the working classes?—Yes,
very largely.
Are they very desirous to avail themselves of the advantages of it?-
Extensively so.
It enables them, does it not, by means of putting in from time to
time certain amounts, to have a fair probability of being able to purchase
property of their own ?-Yes.
Limited to the amount of £150?-Yes.
What alterations or improvements in the Building Societies' Act are
there that you can suggest?—I think, generally speaking, that the
Building Societies' Act is very comprehensive; perhaps in detail addi-
tional powers are wanted with respect to the appointment of trustees, and
also with respect to the certifying of trustees for the time being.
EXTRACT FROM MINUTES OF EVIDENCE.
119
In general you think it works well?-Yes.
Might not the same principle be applied to the purchase of small
portions of land?—It is so applied.
Are you aware of any necessity for change in it from your expe-
rience?-Not any radical change, merely a change that would apply to
the details, as to the points I have mentioned.
With reference to mutual insurance societies, have you anything to
suggest?-Under the Joint-Stock Acts, or under the Friendly Societies'
Acts?
Under the Friendly Societies' Acts?-No, I think they are upon a
very good footing, and I do not think it is desirable to increase the
amount of insurances.
Is it desirable to diminish them?-No.
Have you any suggestion to make referable to Friendly Societies in
particular?—I should certainly object to the removal of the Frugal In-
vestment Clause.
Do you think that a very valuable clause?—Yes. I think the reading
of the Act by the Attorney-General is very injurious to the extension of
such societies as are really deserving, and of proper character.
Are you aware that the reading of the Attorney-General with respect
to “natural contingencies" has prevented the formation of societies for
the purpose of insuring themselves against want of employment by a
fund gathered together when in full employment?—Yes.
Would it not be very advantageous to make that clear?-Very de-
sirable indeed.
Do not you believe that the same intelligence and forethought which
guided them to make those savings during the time that they were in
work, would cause them to husband them, and take care of them, and
prevent fraud when they were out of work?-No doubt about that.
In fact, management then, under reasonable regulations, might be
safely trusted to their own prudence?—Yes.
Mr. Greene.] Would there be no danger of powers of that descrip-
tion being used for the purpose of turns-out?-I think that an insti-
tution enrolled under the Friendly Societies' Acts should have their objects
particularly defined, and that they should be peculiarly of a saving
character rather than of a trade character.
Chairman.] If they were defined and enrolled under the Friendly
Societies' Acts, the object being to make an allowance to those out of
work from any fluctuations in employment, do not you think that the
carrying out of the scheme honestly and bona fide might be safely trusted
to the intelligence of those men ?—Quite so.
And that on the whole the forethought and the frugality which induced
them to lay by, would be sufficient guarantees against their using their
powers for improper purposes?-Quite so.
Are you not aware that there are considerable fluctuations in the
demand for labour, arising from the seasons?—Very great, especially in
trades connected with building.
And also changes of fashion and demand, from the higher classes being
in and out of town?-Very much so.
And also fluctuations arising from foreign demand for goods?-Very
largely so.
For all these reasons it would be advantageous to give them an oppor-
tunity, under proper regulations, of insuring themselves, so that there
might be a fund to assist them when out of work?-I think there will be
no danger, but very great advantages attending it.
Would it not tend to promote their contentment and prevent any out-
breaks of violence, if they had such a fund to fall back upon?—I am
satisfied that their connection with such societies has tended greatly to
remove dissatisfied feelings among the lower classes; and I know, when
120
APPENDIX.
persons have been connected with such societies, and have had given to
them the means of investing their money with advantage, that many
hundreds of men, who were very democratically inclined and dissatisfied,
have, the moment they have had the means of getting a fund for
themselves, become conservative in their feelings.
Do not you think generally, from your knowledge of the working
classes, that if they had what they desired in these respects, and without
giving them any privilege or any advantage beyond what might be termed
facilities for doing the best with their own savings and their own industry,
that would go far to promote their content?-I am sure of it.
Mr. Greene.] What is the scheme that you would recommend for the
purpose of arriving at that end?-I would extend the powers of the
Friendly Societies' Acts, and have a certificate from a proper officer
appointed by Government.
What would be the nature of the extension ?-Extending it to the
carrying out of societies other than perhaps for provision against want and
sickness, and to create funds for other legitimate purposes.
Chairman.] Other contingencies ?—Yes.
Such as fluctuations of employment, or dangers arising from other
contingencies ?—Yes.
Such, for instance, as boatmen and fishermen upon the coast insuring
each other against the loss of their nets?-That they can do now.
Under what Act?-Under the present Friendly Societies' Act, as
amended in the present reign.
Applicable to contingencies as those, or any contingencies of that
nature?—Yes.
But particularly such contingencies as the fluctuations of employment ;
so that out of the wages which they get at one period, they should form
a fund to be devoted to the assistance of those who from those changes are
thrown out of work at another period?—Yes.
Or whose work is slack at another period?—Yes.
For instance, there might be a demand for their labour for only three
days instead of six days?—Yes.
Is there any other point that you would wish to give evidence upon ?
With respect to the point alluded to by the preceding witness as to
liability in partnerships, I think it very necessary to have some alteration
in the law of partnerships. I speak particularly with respect to as-
surance societies, either mutual or joint-stock. I am satisfied of this,
that a great many schemes, thoroughly legitimate and successful in their
idea, would be carried out if the liability were restricted to the amount
of the shares.
You think that would give a facility to enterprises of a useful cha-
racter?-Yes.
Mr. J. Ellis.] What kind of enterprises do you refer to ?-Even in
assurance companies of a legitimate character, the great drawback in
getting a sufficient number of persons together to form a capital suffi-
ciently stable to guarantee the payment of the demands upon the company
consists entirely in the absence of limited liability. I speak from great
experience upon that point.
They would be willing to contribute if they were liable only to the
amount of their shares ?—Yes; but that liability should only apply to
societies of defined character; I would not, as a general principle,
extend limited liability.
Mr. Greene.] Could you at all define the extent to which your limit
would go; you say that you would not extend the privilege of limited lia-
bility to all companies, but to persons becoming partners in concerns of a
defined character?-I would not recommend the extension of limited
liability to schemes of a speculative character, but to any scheme, for
instance, in the centre of a district, to raise a building for scientific
EXTRACT FROM MINUTES OF EVIDENCE.
121
purposes or for legitimate purposes, domestic or otherwise, I think the
liability ought to be limited; but to nothing speculative.
What is a speculative undertaking; the building of a bridge, or the
establishment of gas-works in a town?-Certainly not; I do not look
upon them as speculative.
Though the parties might perhaps never derive the smallest interest
from them ?-That is very possible, but they have a defined use and object
attached to them.
Chairman.] You would not probably be in favour of enterprises to be
carried on in California ?—No.
But in favour of those within a certain district where parties were
acquainted with what was going on?—Yes, and where the success of the
scheme was highly probable.
Mr. Greene.] Who is to be judge of that; how would you regulate
that?—I think the nature of a scheme itself is a sufficient guide to pre-
vent a deviation from principle.
Do not you see very frequently that parties enter into some scheme for
making a dock, or for making a bridge, or various other works of that
description, where the whole of the property invested is utterly lost?
Yes, that may be so.
122
II. OFFICIAL FORMS.
FORM No. 1.
Proposal for Fire Insurance.
FRIENDLY ASSURANCE SOCIETY.
Certified under the Act 13 & 14 Vict. c. 115.
day of
Name, description, and residence, in
full, of the party in whose Name
the Policy is required.
Name, address, and occupation of the
Landlord or employer of the person
proposing the Assurance.
Description and Situation
of building to be insured,
or in which the property
is contained.
State of what materials the
walls are composed. Whe-
ther the party walls pass
through the roof. What
trade is carried on in the
premises. What stoves are
used, with length of pipes
if any).
State if the property, or
any part thereof, is now in-
sured, naming the office or
offices, and the several sums
assured therein.
Rate. Sum.
On Household Goods and
Furniture, Linen, Wearing
Apparel, Printed Books,
Plate, Wines, and Liquors
in private use
On Pictures, Prints, and
Drawings
On China, Glass, and Earth-
enware
On Musical and Philoso-
phical Instruments
On Jewels, Watches, Clocks,
and Trinkets
On Fixtures
On Stock and Utensils in
trade (his own property)..
On Stock and Utensils in
trade (in trust or on com-
mission)
•
From
To
Premium
Odd Time
Policy
185

Policy to
Notice to
Return on No. Cancelled
Premium
£
Rate. Sum.
£\
OFFICIAL FORMS.
123
FORM No. 2.
Proposal for Life Assurance.
FRIENDLY ASSURANCE SOCIETY,
Certified under Act 13 & 14 Vict. c. 115.
TABLE
Particulars required from a Person who Proposes to Assure his own Life in this Society.
1. Name, residence, and profession, or occupation of the
proposing the assurance
person
2. Name, residence, and profession or occupation of the person}
whose life is to be assured
3. Whether in business on his own account? or in whose
ose}
employ, and how long?..
4. If a householder or lodger, and how long? (State name and}
5. Place and date of birth. (State parish, town, and county)
6. Age next birth-day
7. Whether the party is now in good health
8. Whether the habits of the party are, and have been, sober}
and temperate
9. Whether the party has ever been afflicted with apoplexy,
palsy, fits, convulsions, spitting of blood, habitual cough,
asthma, palpitation of the heart, or consumption
..
10. Whether the party has ever been subject to rheumatism, gout,
insanity, rupture, or any other disease or infirmity tending
to shorten life. (If so, its nature and extent to be stated)
11. Whether any member of the party's family has died of the
diseases named in the two foregoing queries; that is, either
father, mother, brother, or sister. (If answered in the
affirmative, particulars to be stated)..
12. Whether the party has had the small pox or the cow pox from}
vaccination. (State which)
at}
13. Whether the party has ever resided abroad; where, for what
period, and how long since
14. Whether the party will attend personally at the chief office,}
or at a district office
15. Is the party's life now assured at any other office; if so, in
what office? State as near as possible the date when such
assurance was effected, and if taken at the ordinary, or at
an increased rate of premium
•
16. Has the party's life been declined by any other office; if so,
state the name of the office, and about the time it was declined
17. Whether the party is, or has ever been, employed in the
military, naval, merchant seamen's, or preventive service.. S
18. Reference to two respectable 1st. The usual me- Name..
persons who are competent to dical attendant S Address
afford information as to the 2nd. An intimate
friend
identity, the state of health, |
and mode of life of the party J quaintance
or
ac-
Name ..
Address
If the party has no medical attendant, then give the name,
occupation, and address of another intimate friend, who
can speak as to the party's health and mode of life
19. Sum proposed to be assured, and the nature of the assurance.
(Words at length)
}
I hereby propose to effect an assurance with the
Friendly Assurance Society, of
the nature described in Clause No. 19 of the above particulars; and I do hereby declare that I
have not withheld any information which is calculated to influence the decision of the Directors
as to the eligibility of my life for such assurance. And I do further agree that the assurance
hereby proposed shall not be binding on the society until the amount of premium demanded
shall have been paid. Dated this
Witness in full.
Name and Address of }
day of
(Signed).
18
[When an Assurance is required to be made payable on the death of the first or last of two
lives, a separate proposal must be filled in and be signed by both parties; and the nature of the
assurance, whether payable upon the death of the first or last of the two lives mentioned, must
be stated in Clause No. 19.]
*** If the assurance be intended to be paid on the person attaining a given age, or any
previous death, it must be so stated.
124
APPENDIX.
FORM NO. 3.
Proposal for an Endowment.
FRIENDLY ASSURANCE SOCIETY.
Certified under the Act 13 & 14 Vict. c. 115.
LIFE DEPARTMENT.
Particulars required from a Person who proposes to Purchase an Endowment
with this Society.
1. Name, Residence, and Profession or Occupation
of the Person proposing to purchase the En-
dowment
2. Name and Residence of the party proposed to
be Endowed. Specifying the Names of the
Parents, their Residence, Occupation, &c.
be}
3. Place and date of birth of the party to be
endowed
4. Age last Birthday
5. The amount of the Endowment, £
When Payable? At
[Here state a day in the year immediately fol-
lowing the birth-day at which the Endow-
ment is required to be paid, the deferred
term comprising a given number of whole
years from the date of the proposal.]
6. Upon what Table ?
Half-
Yearly, or Quarterly ..
Whether Premiums will be paid Yearly, Half-
I, the undersigned
hereby propose to purchase an Endowment for the sum of £
on behalf of
with the
Friendly Assurance Society, upon the terms above specified;
and I do furthermore agree that this Proposal and Declaration shall be the basis
of the contract between myself and the said Society; and hereby certify that the
whole of the foregoing particulars are true. Such Endowment to be subject and
liable to the conditions and stipulations of the said Society, in that case made
and provided.
Name and Address of
Witness in full.
Dated this
day of
(Signed)
185
OFFICIAL FORMS.
125
FORM No. 4.
Proposal for a Deferred Annuity.
FRIENDLY ASSURANCE SOCIETY,
Certified under Act 13 & 14 Vict. c. 115.
The person proposing to purchase a Deferred Annuity, must state:—
1. H
Name, Residence, and Occupation
2. Name, Residence, and Occupation of the person
on whose Life the Annuity is required
3. Place and Date of Birth
4. Age next Birthday
5. Annuity to be granted, £
per annum
6. Annuity to commence on attaining the age of
years
7. Date of the First Payment of Annuity,
day of
8. Amount of Premium, £
18
..}
how payable
9. Whether the party on whose Life the Annuity is
to be granted will appear for identification at
the Chief Office in [London], or before an Agent
in the Country
10. Reference to two respectable persons who can
speak as to the character of the proposer, and
to the identity of the person on whose Life the
Annuity is to be granted
DECLARATION.
I, the above-named
being desirous of purchasing a Deferred Annuity, as before described, on the life of
from the
Friendly Assurance Society, do hereby declare that the age of
will be
day of
proposal are true. Dated this
years on the
next, and that the several particulars of the above
day of
Signature
18
Witness
NO MEDICAL EXAMINATION REQUIRED.
** A Copy of the Certificate of the Birth of the Person on whose Life the
Annuity is to be granted, will be required to be lodged with the Society.
**
126
APPENDIX.
FORM No. 5.
Proposal for an Immediate Annuity, or an Annuity Assurance.
FRIENDLY ASSURANCE SOCIETY.
Certified under Act 13 & 14 Vict. c. 115.
The person proposing to purchase an Immediate Annuity, or Annuity Assurance,
must state:-*
1. H
Name, Residence, and Occupation
•
2. Name, Residence, and Occupation of the Person
on whose Life the Annuity or Annuity Assurance
is required
3. Place and Date of Birth
4. Age next Birthday
5. The sum proposed to be paid for the purchase..
6. If the whole amount is to be permanently sunk
in the purchase, or any proportion thereof to
be refunded on the Death of the Annuitant
..
7. What proportion of Purchase-money to be re-
re-7
funded ..
8. The Annuity required per annum, £
payable Yearly, Half-Yearly, or Quarterly
9. Date of the First Payment
day of
18
..
If
10. Whether the Person on whose Life the Annuity'
is to be Granted will appear for identification
at the Chief Office in [London], or before an
Agent in the Country ..
I, the above named
DECLARATION.
being desirous of purchasing.
described, on
from the
as before
Friendly Assurance Society, do hereby declare that the several particulars of the
above proposal are true. Dated this
day of
18
Signature
**
Witness
No MEDICAL EXAMINATION REQUIRED.
* A Copy of the Certificate of the Birth of the Person on whose Life the
Annuity, or Annuity Assurance, is to be Granted, will be required to be
lodged with the Society.
* The purchase of an Annuity involves the sinking of the whole sum paid down; but that of
an Annuity Assurance, only an agreed portion, the remainder being returned to the repre-
sentatives of the Annuitant on death.
OFFICIAL FORMS.
127
1. H
FORM No. 6.
Proposal for a Survivorship Annuity.
FRIENDLY ASSURANCE SOCIETY,
Certified under the Act 13 & 14 Vict. c. 115.
The person proposing to purchase the Survivorship Annnity must state:-
name, occupation, and residence
2. The name, residence, and occupation of the younger of the
two persons, one of the subjects of the proposal
3. Place and date of birth
4. Age next birthday
ae}
:wo}
5. The name, residence, and occupation of the elder of the two
persons, the other subject of the proposal
6. Place and date of birth
7. Age next birth-day
8. Whether the elder person is now in good health
Der}
9. Whether the habits of the person are, and have been, sober
and temperate
· .
10. Whether the person has ever been afflicted with apoplexy,
palsy, fits, convulsions, spitting of blood, habitual cough,
asthma, palpitation of the heart, or consumption
11. Whether the person has ever been subject to rheumatism,
gout, insanity, rupture, or any other disease or infirmity
tending to shorten life. (If so, its nature and extent to be
stated)
12. Whether any member of the person's family has died of the
diseases named in the two foregoing queries; that is, either
father, mother, brother, or sister. (If answered in the
affirmative, particulars to be stated).
13. Whether the person has had the small pox or the cow pox
from vaccination. (State which)
x}
14. Whether the person has ever resided abroad; where, for what}
period, and how long since
15. Whether the person will attend personally at the offices in
[London], or before one of the medical examiners in the
country
16. Is the person's life now assured at any other office; if so, in
what office? State as near as possible the date when such
assurance was effected, and if taken at the ordinary, or at
an increased rate of premium

if so; }
the}
17. Has the person's life been declined by any other office? if so,
state the name of office, and about the time it was declined
18. Whether the person is, or has ever been, employed in the
military, naval, merchant seamen's, or preventive service..
1st. The usual me-
19. Reference to two respectable]
persons who are competent to
afford information as to the
identity, the state of health,
dical attendant S Address
2nd. An intimate
Name..
friend or ac- Address
and mode of life of the person quaintance
If the person has no medical attendant, then give the name,
occupation, and address of another intimate friend, who
can speak as to the person's health and mode of life
20. Annuity to be granted; the first payment of annuity, to be
made at the end of 12 calendar months from the death of
the elder of the two persons within named, as the subjects
of this proposal
21. Amount of premium, £
I, the above named
how payable?
DECLARATION.
purchasing a Survivorship Annuity, as before described
being desirous of
from the
Friendly Assurance Society, do hereby declare that the several parti-
culars of the above Proposal are true.
Dated this
day of
Witness
Signature
18
*** A copy of the certificate of the birth of the person on whose life the Annuity is to be
granted will be required to be lodged with the society.
128
APPENDIX.

Policy No.
Class
Original Holder
Life or Lives Assured
Dates of Birth
Sum Assured and Nature of Assurance £
Ages next
Birth-day
FORM No. 7.
LIFE POLICY REGISTER.
Table
Date
Ages assumed in
the Policy.
{
Amount of Periodical Premium
First Premium due.
Number of Days allowed for
{Payment of Renewal Premium }
Premium payable_
£
Proposal No.
Premium reduced
by Bonus to
Names, Address, and Occupations of Subsequent Transferees of Policy.
Directors signing
the Policy.
Nature of Consideration
of Transfer.
Date of Transfer.
Date of Notice of Transfer.
Policy Lapsed on failure of Payment of Premiums
Policy surrendered to the Society.
Policy became a Claim
FORM, NO.
on payment of £
Claim paid
to
Sum Assured £
Bonus
£
** Notice of Renewal to be sent to
Total paid ..£

OFFICIAL FORMS.
129
Number
of
Proposal.
Date.
Surveyor's
Report No.
FORM, No. 8.
FIRE ASSURANCE PROPOSAL BOOK.
[NAME, ADDRESS, AND OCCUPATION OF PROPOSER.]
Particulars
Result.
of
Property.
Number of
Policy.
Rate.
Sum
Assured.
QUARTER.

Charges.
Remarks.
Policy Pre-
and mium.
Duty.
Stamp.
FORM, No. 9.
FIRE POLICY DESCRIPTION BOOK.
[NAME, Address, and Occupation of Assured.]
QUARTER.

Charges.
Number Number.
of
of
Date.
Proposal Policy.
Description
of
Property.
Sum
Remarks.
Rate. Assured.
Pre-
Policy
and mium.
Stamp.
Duty.
K
130
APPENDIX.
£
FORM, No. 10.
FIRE POLICY.
FRIENDLY ASSURANCE SOCIETY.
Certified under the Act 13 & 14 Vict. c. 115.
Payment received on granting this
No.
Policy from the
day
of
to the
day
of
185-
Premium
Policy
£
··
£
:
Office.
Payments to be made yearly for the
renewal of this Policy on the
day of
Premium
£
: :
Whereas,
of
to the
ha- paid the sum
Friendly Assurance
Society, and ha― also agreed to pay to the said society the sum of
on the
day of
in each year during the continuance of this policy, for assuring from loss or
damage by fire, the property hereinafter described, in the place or places herein-
after set forth and not elsewhere, unless allowed by indorsement previously made
hereon, not exceeding in each case the sum specified, namely :—
[Here insert separately the sums intended to be assured upon each House or
Building, or upon each class of moveable property.]
Now be it hereby known, that from the date hereof, and so long as the said
assured shall duly pay, or cause to be paid, to the society, the said sum of
yearly, at the time aforesaid, and the directors of the said
society, for the time being, shall accept the same, the capital stock and property
of the Fire Department of the said society, according to the rules of the said
society, after satisfying all assurances granted by the said society previously
payable, and all other prior charges on such capital stock, funds, and property,
shall be subject and liable to pay or make good to the said assured, hexe-
cutors, administrators, or assigns, all such loss or damage as shall be occasioned
by fire to the property hereinbefore set forth, not exceeding in each case
respectively the sums hereinbefore specified, on the property hereinbefore set
forth, subject in every respect to the conditions endorsed on this policy, and to
the rules of the said society.
Provided always, and it is hereby expressly declared, that the said capital
stock, funds, and property of the said society, after making such satisfaction and
payment as are before mentioned, shall alone be answerable for the payment of
the monies assured by this policy, and that no director, or officer of the said
society, or member therein, shall be responsible for the payment of or any contri-
bution towards the monies assured by this policy, or liable to any demand against
the said society on any pretence whatsoever; and that no person assured by the
society shall be liable to any demand against the society on any pretence
whatsoever.
OFFICIAL FORMS.
131
Given under the hands of three of the Directors, and Sealed with the
Common Seal of the Society, this
day of
the year of our Lord, one thousand eight hundred and fifty
in

Examined
Entered
DIRECTORS.
Conditions of Fire Assurance under which this Policy is granted.
I. Persons upon making insurances are required to give an accurate description
of the buildings, erections, property, and effects intended to be insured. If the
insurance is on stock-in-trade and goods, the nature of the same, and of the
buildings or place in which the same are deposited, must be truly described;
and if in the buildings insured, or containing any property insured, shall be used
any steam-engine, stove, kiln, furnace, oven, or any description of fire heat,
other than common fire-places in private houses, or any process of fire heat be
carried on therein, the same must be noticed and allowed in the policy, and if
any omission or misrepresentation take place on any of the foregoing, or any
other material point, the policy is void, and the insurance is of no effect. Every
insurance attended with particular circumstances of risk must be so specially ex-
pressed in the policy; and in case of any circumstance happening after an in-
surance has been effected, whereby the risk shall in any way be increased, the
insured is required to give notice thereof in writing to the society, and the same
must previous to a loss occurring, be allowed by indorsement on the policy,
otherwise the policy is void, and all title to any benefit from the insurance
becomes forfeited.
II. The charge for premium is calculated from the quarter-day last past, or
from the day on which the insurance is effected, to the quarter-day ensuing; and
for one year, or several years from such quarter-day, as may be agreed on: and
unless the future renewal payments be made within fifteen days after the period
limited for the expiration of the policy, the insurance will cease at four o'clock
in the afternoon on the last of such days. Policies for periods less than a year
will finally expire at four o'clock in the afternoon of the day of the termination
thereof, without the allowance of any extra time.
III. If there be any insurance at any other office of the property insured with
this society, notice of every such other insurance must be given, and the
same, with the several amounts thereof, must be stated either in the policy, or by
an indorsement upon it, otherwise the insurance with this Society is void, and the
insured not entitled to recover or be paid in case of loss; and in the event of any
other insurance with any other office, this society will pay its rateable portion
only of any loss, having regard to every other existing policy, in whose name
soever such policy may be.
IV. In case of any alteration being made in a building insured, or containing
any property insured, or of any steam-engine, stove-kiln, furnace, oven, or any
other description of fire heat being introduced, or of any trade, business,
process, or operation being carried on, or goods deposited therein, not com-
prised in the original insurance, or allowed by indorsement thereon, or the
making of any communication from one building to another, notice thereof
must be given; and every such alteration must be allowed by indorsement on
the policy, and any further premium which the alteration may occasion must be
paid; and unless such notice be duly given, such premium paid, and such in-
dorsement made, no benefit will arise to the insured in case of loss.
V. Lease-holders, trustees, and all persons entitled to houses, buildings, and
other insurable property, in reversion, may insure the amount of their respective
interests in such buildings and property, provided the nature of the tenure or
interest be duly specified. Persons holding goods in trust or on commission, for
K 2
132
APPENDIX.
the value of which they are responsible in case of fire, may insure the same, but
the same must be insured as such, otherwise the policy will not extend to cover
such property.
VI. Upon the death of persons having property insured with this society, it
will not be necessary to make a fresh insurance, provided the policy is continued
(as it may be) by indorsement to the person entitled thereto, or the interest in a
policy may be transferred, provided the consent of the directors be previously
obtained, and an indorsement of the transfer be made on this policy, but not
otherwise. If goods be removed to a new situation, notice of such removal must
be given and allowed by indorsement on the policy, and a suitable premium paid,
if the risk be thereby increased, otherwise the policy will not extend to cover such
goods, and the policy, from the time of such removal, will he void.
VII. No loss occasioned by or through any rebellion, riot, tumult, insurrec-
tion, or commotion, or by, or through any military or usurped power, or
foreign enemy, or thefts, will be made good. Books of accounts, deeds,
writings, manuscripts, securities, bills, bonds, ready money, and gunpowder, are
not, under any circumstances, insured. The society will not be responsible for
any loss arising on hay or corn destroyed or damaged by its own natural heating,
but will pay the loss which may happen to any contiguous property insured, in
consequence of fire so occasioned. No loss will be allowed for any goods or
utensils which may be destroyed or damaged while undergoing any process or
manufacture, in or by which the application of fire heat is used. If more than
twenty pounds weight of gunpowder shall be upon the premises at the time
when any loss happens, such loss will not be made good. The use of gas-lights
is allowed, provided the gas is not made on the premises insured; but the
society is not responsible for, or liable to, pay any loss or damage occasioned by
or through any explosion, whether through gas or otherwise, or for such
goods as may be burnt from the careless use of gas-lights, not protected by
shades or chimneys, or for clothes or linen burnt while airing, or being placed
before an open fire.
VIII. Loss by lightning will be made good by this society, so far only, as either
the building or effects insured may have been actually set on fire thereby, and
burnt in consequence thereof.
IX. All persons sustaining any loss or damage by fire, are forthwith to give
notice thereof to the society, at their chief office in
and within
fifteen days after the fire occurring, deliver in writing, as particular an inventory
of the property destroyed or damaged, as the nature of the case will admit; such
inventory to be in writing, signed by the parties, and to contain a list of the
furniture, stock in trade, tools, goods, and other articles claimed for, and with
respect to any buildings or erections destroyed or injured, a detailed specification
and estimate of the loss or damage is to be furnished, showing the sum necessarily
required to be expended to restore or reinstate such buildings or erections; in
all cases estimating the worth, whether of buildings, furniture, stock in trade,
tools, or other goods, according to the quality and actual condition and value of
the property at the time of the fire; and the parties insured must make proof of
such loss by producing a certificate, signed by two or more householders in the
parish or place where the loss or damage was sustained, that, to the best of their
knowledge and belief, such fire was not wilfully occasioned by the person claiming
compensation; and their invoices, books of account, and all such other vouchers
as shall be reasonably required, and by the solemn declaration or affirmation of
themselves and their servants when required, without which, no money shall be
recoverable. But if there appear any fraud, deceit, or evil practice in the claim
made for any loss, or any false declaration or affirming in support thereof or any
collusion or false evidence, or denial, or wilful misstatement, or fraudulent mis-
description in the nature or value of the property destroyed, or claimed for, the
claimant shall, in every such case, forfeit all right to restitution or payment under
or by virtue of his, her, or their policy.
X. Losses, when proved to the satisfaction of the directors, will be made
good, either by payment of the amount thereof, or by rebuilding or repairing the
OFFICIAL FORMS.
133
premises, or by reinstating or replacing the goods and property destroyed or
damaged with others of a like kind, and of equal quality and value, as far as the
same is practicable, and as the sum insured will allow, at the option of the
directors. In case any difference shall arise between the assured and the society,
touching the amount and restoration of any loss upon any policy in force under
these conditions, such differences must be submitted to the judgment and de-
termination of arbitrators, chosen in pursuance of the rules of the society in that
behalf made, whose award in writing shall be conclusive on all parties.
All notices are (to prevent mistakes) required to be made in writing, and all
indorsements and allowances must be signed by the manager, or one of the
clerks, or known agents of the society.
*** No receipts are to be taken but such as are printed, and issued from the
society, and signed by the manager, or one of the clerks, or known agents.
All
reasonable expenses attending the removal of goods in time of danger will be
repaid, such claim being made within seven days after the same shall have been
incurred.
Table
FORM, No. 11.
WHOLE LIFE POLICY.
Folio
FRIENDLY ASSURANCE SOCIETY.
Certified under the Act 13 & 14 Vict. c. 115.
OWN LIFE.
Annual Premium, £
paid [* by
WHOLE TERM.
to be
Instalments
of £
each, due
-]
No.
First Instalment paid.. £
Policy
£
£
Office.
1. Whereas,
of
agreed with the
sum of
the hereinafter designated assured hath
Friendly Assurance Society, for an Assurance of the
upon h- own life, for the whole
continuance thereof, and hath delivered into the office of the said society a de-
claration or statement in writing, dated on or about the
, one thousand eight hundred and fifty
signed by h―self, containing the several particulars, requisite for such
day of
assurance.
2. And whereas the said assured hath [*agreed to pay to] the said society the
the annual premium or consideration
sum of
for the said assurance for one year, terminating on the
day of
[by
one thousand eight hundred and
[half-yearly, quarterly, monthly, or weekly] instalments
134
APPENDIX.
of
each, due on
and to pay all
future annual premiums in respect of this policy, by instalments of similar
amount, and at the like periods] [*and in part payment of the first annual
premium, hath paid to the said society the sum of
the receipt of which [*last mentioned] sum is hereby acknowledged.
-],
3. Now this Policy witnesseth, that in case the said Assured shall die
before or upon the last-mentioned day, or in case he shall survive that day, and
he or h― assigns shall, on or before that day, and on or before the same day of
h-
the last-mentioned month in each and in every succeeding year, during which he
shall be living, pay unto the said society the sum of
then so much of the capital stock, funds, and property of the Life Department
of the Society, as by the rules is made liable and applicable to pay assurances of
the class the same and the like granted under this policy after satisfying all
assurances of the like class granted by the said society previously payable, and
all other prior charges on such capital stock, funds, and property, shall be
subject and liable (according to the provisions of the rules of the said society,
to pay to h― executors, administrators, or assigns, within [three] calendar
h-
months next after proof shall have been given to the satisfaction of the directors
of the said society, of h- death, and of the cause thereof, the full sum of
sterling, and also
such further sum or sums, if any, as may under the provisions of the rules
of the said society be added by way of bonus to the sum hereby assured, [*or so
much thereof as shall remain after deducting therefrom the amount of such
annual premium for the year in which such death shall happen, such year com-
mencing on the
day of the month
in one year, and ending on the
day of the same
month in the next and each succeeding year, if the same shall not have been paid,
or a due proportionate part of such premium for the time which shall remain
between such death and the end of the year in which it shall happen, computed
as aforesaid.]
4. Provided always, and it is hereby expressly declared, that the said capital
stock, funds, and property of the said society, after making such satisfaction and
payment as are before mentioned, shall alone be answerable for the payment of
the monies assured by this policy, and that no director, or officer of the said
society, or member therein, shall be responsible for the payment of, or any con-
tribution towards, the monies assured by this policy, or be liable to any demand
against the said society on any pretence whatsoever; and that no person assured
by the said society shall be liable to any demand against the society on any
pretence whatsoever.
5. Provided also, that this policy and the assurance hereby effected, are,
and shall be subject and liable to the several conditions, restrictions, and stipu-
lations, hereon endorsed, and to the rules of the said society, so far as the same
are, or shall be applicable, in the same manner, as if the same respectively were
here repeated and incorporated in this policy.
6. Provided also, that if any fraud has been practised upon the said society,
in effecting the assurance hereby made, this policy shall be void, and all monies
paid thereunder shall be forfeited to the said society.
7. En witness whereof, the Common Seal of the said Society is hereunto
affixed, by order of the Board of Directors; and the undersigned, being three of
the Directors of the said society, have hereunto subscribed their names, this
day of
in the year of our Lord,
one thousand eight hundred and fifty

Examined
DIRECTORS.
Entered
NOTE. Where the premium is paid annually, the words between [brackets], and marked*
must be omitted; and in the second clause the words "hath paid," must be inserted instead
of "hath agreed to pay."
OFFICIAL FORMS.
135
Conditions of Life Assurance under which this Policy is granted.
I. The [* instalments of the] premium under this policy must be paid within
[† fifteen] days of the same becoming due.
II. All such payments must be made at the office of the society where the
assurance was effected, unless altered by agreement, and then at the office of the
society substituted for it.
III. This policy will be absolutely forfeited, unless [* all instalments of] the
premium in arrear be paid within [† fifteen] days after the day on which the
[* first of such instalments of the] premium in arrear became due, together with
a fine, equal to the amount of one-tenth of such arrears; or unless after the ex-
piration of those fifteen days, it be revived, with the consent of the directors,
to be given by them if they think proper, within and not after twelve weeks from
the day whereon the [* first instalment of the] premium in arrear became due,
and upon their being satisfied by a medical re-examination as to the health of the
party or parties whose life or lives hath or have been assured, and on payment of
[* all the instalments of] the premium in arrear, and of a further fine thereon,
to be fixed by the board of directors, of not less than five shillings per cent.,
on the sum assured.
IV. If the person whose life is assured under this policy, shall, without the
permission of the directors, go out of Europe, or die upon the high seas, except in
passing from one part of the United Kingdom to another; or in passing from
one part of Europe to another part of Europe; or if he shall enter into any
police force, or the preventive service; or if he shall be engaged or employed in
actual warfare in any military or naval capacity; or being or becoming a sea-
faring person, shall go upon the seas in pursuance of his occupation, then the
benefit of this policy shall be forfeited.
V. If the person whose life is assured under this policy shall die by duelling,
or by his or her own act, whether sane or insane, or by the hands of justice, the
benefit of this policy shall be forfeited, except to the extent of the interest which
any person may have previously acquired therein by assignment for valuable
consideration, duly notified in writing to the society previously to the death of
the person whose life is assured, or by legal lien, and upon such interest being
proved to the satisfaction of the directors :-but if this policy be in the pos-
session of the person whose life is assured at the time of such death, the directors
may, if they think fit, pay for the benefit of his family, any sum of money not
exceeding the amount the society would have paid to such deceased person for the
purchase of his interest in this policy, on the day previous to his death.
VI. All such proof of the death of the person or persons whose life or lives is
or are assured under this policy, and of the cause thereof, and all such informa-
tion respecting the claim made in consequence thereof, must be given to the
directors as they shall require.
VII. In case of this policy becoming void under these conditions, or the pro-
visions within contained, the society shall not be bound to refund any monies
which shall have been received by them in respect of this policy, and all claims
against the society in respect of this policy shall be extinguished.
VIII. In case of this policy or of the monies hereby assured to be paid,
becoming the subject of any trust whatsoever, the receipt of the trustee thereof
for the time being may be accepted as an effectual discharge to the society for
any monies payable by the society under such policy, without the society being
bound to see the application of such monies, or being answerable or accountable
for the misapplication or non-application thereof.
NOTE. If the premium be paid annually, the words between [brackets, and marked *] must
be omitted. The number of days usually allowed for payment of renewal premiums are for
yearly, thirty days; half-yearly or quarterly, fifteen days; for monthly, eight days; and for
weekly, four days. According, therefore, as the premiums are agreed to be paid, the words
within [brackets, and marked t] must be varied.
136
APPENDIX.
FORM No. 12.
ENDOWMENT ASSURANCE POLICY.
[By which a Sum is Payable to the Person Assured in the event of his Surviving
a Particular Age, or Previously Dying.]
Substitute the following clauses for those similarly numbered in Form 11.
1. Whereas,
of
hath agreed with the
the hereinafter designated Assured,
Friendly Assurance Society, for an Assurance
upon [his] own life on either of the
of the sum of
following events, whichever may first happen, namely, such assurance to be paid
to [the assured] or [his] assigns, upon [his] surviving the
day of
day of
18-, or to the executors, administrators, or assigns of the
assured, should [he] die before the said
18—, and hath delivered, &c. (here take the remaining portion of clause 1, in
Form 11).
3. Now this Policy witnesseth, that in case the said assured shall survive
the said day of
185-, or in case he shall die before
or upon the day mentioned in the last preceding clause, or in case [he] shall
survive that day, and [he] or [his] assigns shall, on or before that day, and
on or before the same day of the month lastly hereinbefore referred to,
namely, the
day of the month of
in each and in every succeeding year during which [he]
day of
18-,
shall be living, up to the said
first within named pay unto the said society, the sum of
then so much of the capital stock, funds, and property of the Life Department
of the said society as is by the rules thereof made liable and applicable to pay
assurances of the class the same and the like granted under this policy, after
satisfying all assurances of the like class granted by the said society according to
the provisions of the rules of the said society, previously payable, and all other
prior charges on such capital stock, funds, and property, shall be subject and
liable within [three] calendar months next after proof shall have been given to
the satisfaction of the directors of the said society of the assured having survived
the said day of
18-, or of his death happening prior thereto,
and of the cause thereof, to pay to [himself], [his] assigns, executors, or ad-
ministrators, as the case may be, the full sum of
sterling, and all such further sum or sums, if any, as may under the provisions
of the rules of the said society be added by way of bonus to the sum hereby
assured, [or so much thereof as shall remain after deducting therefrom the
amount of such annual premium for the year in which either of the events
assured against shall happen, such year commencing on the
in one year, and ending on the
day of
the month of
day of the same month in the next, and each succeeding year, if the sum shall
not have been paid, or a due proportionate part of such premium for the time
which shall remain between the happening of either of the events herein
assured against, and the end of the year in which it shall happen computed as
aforesaid].
(Take the Conditions under Form 11).
OFFICIAL FORMS.
137
of
FORM No. 13.
POLICY ON TWO JOINT LIVES.
Substitute the following clauses for those similarly marked in Form No. 11.
1. Whereas,
and
of
the hereinafter designated assured,
alleging themselves to be interested in the lives of each other, have agreed with
the
Friendly Society, for an assurance of the sum of
to be paid on the death of ['such of them as shall first die],
and have caused to be delivered to the office of the said society, the declarations
or statements in writing, dated on or about the
, one thousand eight hundred and fifty
declaring amongst other things that the age of the said
will not on [his] next birthday exceed
the said
day of
thereby
years, and that the age of
will not on [his] next birthday exceed
years, the said declarations or statements also containing the
several other particulars requisite for such assurance, and the said
and
have agreed that such assurance
when effected shall be [2 on their joint account, and for their joint benefit], so
that in case of there being no disposition thereof to the contrary, by both of
them, [³ the survivor of them] may also be entitled to the benefit of such
assurance.
sum of
3. Now this Policy witnesseth, that in case [4 either] of the said assured
shall die before or upon the last mentioned day, or in case both of them shall
survive that day, and they or their assigns shall on or before that day, and on or
before the same day of the last mentioned month in each and in every succeeding
year, during which both of them shall be living, pay unto the said society the
then so much of the capital stock, funds, and
property of the Life Department of the society, as by the rules thereof is made
liable and applicable to pay assurances of the class the same and the like granted
under this policy, after satisfying all assurances of the like class granted by the
said society previously payable, and all other prior charges on such capital
stock, funds, and property, shall be subject and liable, according to the provisions of
the rules of the said society, to pay [5 to their assigns or the survivor of them,
or [his] executors, administrators, or assigns] within [three] calendar months
next after the proof shall have been given to the directors of the said society of
the death of such one of them as shall first die, and of the cause thereof, the full
sum of
sterling, and also such, &c. [here take to
the end of Clause 3, from Form, No. 11].
[Take Conditions as in Form, No. 11].
FORM No. 14.
POLICY ON THE SURVIVOR OF TWO LIVES.
A very slight alteration of Clauses 1 and 3 of Form No. 13, will render it
applicable to an assurance payable on the last of two lives—for instance—
The substitution of the words "both of them," in Clause 1, for the words
within the brackets [1]. And the words "for the benefit of the survivor of
them," instead of the words within the brackets [2]. And the words "the
executors, administrators, or assigns, of the survivor of them," instead of the
words within the brackets [3].
In Clause 3.
The term "both" instead of "either," within the brackets [4]. The words
"to the executors, administrators, or assigns, of the survivor of them," instead
of the words within the brackets [5]. [Take Conditions as in Form No. 11].
138
APPENDIX.
FORM No. 15.
POLICY FOR AN ENDOWMENT.
[Payable to a person on attaining a given age, with the option in case of his death,
to the person effecting the assurance of receiving back the premiums (less twenty
per cent.) previously paid thereon, or of nominating another person to receive
the amount at the period of time, the person (deceased) if living would have been
so entitled].
FRIENDLY ASSURANCE SOCIETY,
Certified under the Act 13 & 14 Vict. c. 115.
ENDOWMENT POLICY.
No.
(MONTHLY.)
Date
Contributions
£ :
Due
Last payment on
Amount of Annual
Premium ..
al}. £
: :
of
Substitute the following clauses for those similarly numbered in Form No. 11.
1. Whereas,
sum of
of
the
day of
has agreed with the
Friendly Assurance Society to effect an Assurance, being an Endowment, for the
to be paid to
the hereinafter designated assured, on
185-, in case the said
assured shall be then living, ['and in the event of his death before such day,
then to such person or persons who shall be living on that day as shall, subject to
the conditions hereupon endorsed, from time to time in that behalf be duly
nominated, but subject always to such option of claiming such payment from
the said society in respect of premiums, as in and by the said conditions is
reserved 2], and hath delivered, &c. [here take to the end of Clause 1, in
Form 11].
3. Now this Policy witnesseth, that provided the said assured shall be living
on the said
day of
18-, [² or in case of [his] death
before that day, if any person or persons who shall, pursuant to the conditions
herein endorsed, be nominated by the said
to take the benefit of this Assurance, shall be living on the said
day of
, 18-2], and [he] the said
or [his] assigns, executors, or administrators, shall do, and in the mean time,
and until the said
day of
18-, in every
then so
year pay to the said society the premium of
much of the capital stock, funds, and property of the Life Department of the
said society, as is by the rules thereof made liable and applicable to pay
assurances of the class the same and the like granted under this policy, after
satisfying all assurances of the class granted by the said society previously
payable, and all other prior charges on such capital stock, funds, and property,
shall be subject and liable according to the provisions of the rules of the said
society, to pay within [three] calendar months from the said
day of
185-, to the said assured, if then living, [3 or to
such person or persons then living, as shall be nominated by the said
to the benefit of their policy, pursuant to the conditions hereon
endorsed ³], the full sum of
sterling, and also such
further sum, &c. [here take remainder of Clause 3, from Form No. 11].
OFFICIAL FORMS.
139
Conditions of Endowment Assurance under which this Policy is granted.
1. This policy will not become void if the premium, from time to time to
become due thereon, be paid within [fifteen] days of the same becoming due; and,
though the premium thereon should not be paid within such extended period,
this policy may be revived within three calendar months from the expiration of
such extended period, upon payment to the society of a fine of five shillings on
every one hundred pounds assured, together with a sum equivalent to five per
cent. on the premium remaining unpaid.
2. In case of the death of the party nominated by this policy to the benefit
thereof before the day fixed as within mentioned for the payment of the sum
assured, the party by whom this policy is effected, or his assigns, executors, or
administrators, shall be entitled, upon giving three calendar months' notice in
writing to the society, to determine the assurance effected by this policy, and to
receive in satisfaction and extinguishment of all claims and demands thereupon,
a sum equivalent to the premium or premiums which he or they shall have paid
to the society in respect thereof, subject to a deduction of one-tenth thereof which
may be retained by the society; or-
3. In case and so often as it shall happen that the party nominated by this
policy to the benefit thereof as within mentioned, or any person or persons from
time to time to be nominated as hereby authorized to the benefit of the said
policy, in the stead or place of the party nominated to the benefit thereof as within
mentioned, shall die before the day fixed as within mentioned for the payment
of the said sum assured, then the person by whom this policy is effected, or his
assigns, executors, or administrators, shall be entitled to nominate, as hereby
prescribed, any other person or persons to take the benefit of this policy, and of
the assurance hereby effected; and the person or persons so nominated, shall
have and take the benefit thereof accordingly, subject nevertheless to the chance
of his or their being deprived of the benefit thereof by the exercise of the option
mentioned in the said second condition in the same manner, and as fully,
effectually, and advantageously as if he or they had been nominated to the benefit
of this policy, and of the assurance thereby effected by this instrument itself,
provided nevertheless that every such nomination, in order to be effectual, shall
be in writing under the hand or hands of the parties entitled to exercise the
same, and be deposited or left with the said society at their office aforesaid,
within three calendar months next immediately after the exercise thereof, and
that for and in respect of every such nomination, a fee after the rate of five per
cent. upon the said sum assured be paid to the society within such three calendar
months, and that each and every nomination shall be made in such form as may
be required by the Directors for the time being of the society, should they be
pleased to prescribe such.
4. Any sum payable by the society under this policy shall not carry interest
against the society, and the society shall cease to be liable for such sum, if the
same be not claimed by or on behalf of the party or parties entitled thereto,
within ten years next after that the same shall have become due.
5. That in case of this policy or of the monies hereby assured to be paid
becoming the subject of any trust whatsoever, the receipt of the trustee for the
time being of the said policy or monies may be accepted as an effectual discharge
to the society for any monies payable by the society under such policy, without
the society being bound to see to the application of such monies, or answerable
or accountable for the misapplication or non-application thereof.
140
APPENDIX.
FORM No. 16.
POLICY FOR AN ENDOWMENT,
[Payable to a person on attaining a given age, without return of premium, or
option to nominate another person in his stead, in case of previous death].
Take Clause 1 of Form No. 15, omitting the words between brackets [1].
Omitting the words in Clause 3, also between brackets [2].
And omitting also the words in the same clause between brackets [3].
Take Clauses 2, 4, 5, 6, and 7, from Form No. 11.
Take Conditions 1, 4, and 5, from Form No. 15, omitting Conditions 2 and 3.
FORM No. 17.
DEFERRED ANNUITY POLICY.
FRIENDLY ASSURANCE SOCIETY.
Certified under the Act 13 & 14 Vict. c. 115.
L
First payment received by the society on
granting this Policy for the Annuity
undermentioned,
Premium
Policy
..
£
£
No.
For the renewal of this Policy, the pre-
mium or sum of £
is to be
18-
paid on the day or days mentioned in
the body of this Policy, up and in-
cluding the
day of
The Annuity by this Policy assured to be
paid, will, subject as hereinafter ex-
pressed, be payable annually on the
in each year, the first of such pay-
ments to be made on the
day
of
18-
of
Substitute the following clauses for those similarly marked in Form No. 11.
1. Whereas,
hath agreed with the
Friendly Assurance Society, to effect an assurance for an annuity of
pounds to be payable to [him] or [his] assigns on [his] attaining the age of
years, and thenceforth during [his] life, the first payment to be made
day of
18-; and hath delivered, &c.
on the
(here take remainder of Clause 1, from Form No. 11).
2. And whereas the said
the said society the sum of
for such proposed assurance,
3. Now this Policy witnesseth, that if the said
shall be living on the
day of
hath paid to the directors of
and [he] or [his] assigns shall in the meantime on the
day of
the premium or sum of
as the first premium
18-
in each and every year, pay unto the said society
then so much of the
capital stock, funds, and property, of the Life Department of the said society,
OFFICIAL FORMS.
141
as by the rules thereof is made liable to pay assurances of the class the same and
the like granted under this policy, after satisfying all assurances of the class
granted by the said society previously payable, and all other charges on such
capital stock, funds, and property, shall be subject and liable, according to the
premiums of the rules of the said society, to pay to the said
or [his] assigns, and from and after the said
day of
or clear yearly sum of
, 18-, and thenceforward during [his] life, one annuity
sterling, to be payable at the times
and in the manner mentioned at the head of this policy.
-
NOTE. If the premium be paid half-yearly, quarterly, monthly, or weekly, a condition must
be inserted (something similar to that in Form 11), in the body of the Policy, by which it is
declared that, in case the same be not paid within a given number of days after its respectively
coming due, that the Policy will be void, and the annuity be forfeited.
FORM No. 18.
POLICY FOR SURVIVORSHIP ANNUITY.
FRIENDLY ASSURANCE SOCIETY.
Certified under the Act 13 & 14 Vict. c. 115.
£
First payment received by the society
on granting this Policy for the Annuity
undermentioned
Policy
··
£
£
No.
For the renewal of this Policy, the pre-
mium or sum of £
is to be
paid on the day or days mentioned in
the body of this Policy, up to the death
of the person, after whose decease the
annuity becomes payable.
The Annuity by this Policy assured to
be paid will, subject as hereafter ex-
pressed, be paid annually; the first
of such payments to be made twelve
calendar months after the death of the
person upon whose decease the same
becomes payable.
of
of
Substitute the following clauses for those similarly numbered in Form No. 11.
1. Whereas,
and
have agreed with the
Friendly Assurance Society, to effect an assurance of an annuity of
pounds, to be payable to the said
or [his] assigns, and henceforth during [his] life only, after the decease of the
said
and have caused to be delivered, &c.
[here take portion of Clause 1, in Form No. 13, to the end of the declaration
of ages].
[Here take Clause 2, of Form No. 17].
3. Now this Policy witnesseth, that if the said
and
shall on the
day of
in each and every year during the joint continuance of
their lives, pay, or cause to be paid, unto the said society, the premium or sum
then in such case, but subject only to the decease of
of
142
APPENDIX.
the said
and upon proof thereof given to the satis-
faction of the directors of the said society, and of the cause thereof, so much of
the capital stock, &c. [here copy the portion of Clause 3, of Form No. 17, com-
mencing with "Funds and property to or his assigns,"] from and after the
decease of the said
and thenceforward during [his]
life, an annuity or clear yearly sum of
sterling, to
be payable at the time and in the manner mentioned at the head of this policy.
[For the Conditions to this Policy, see Form No. 11].
[See also Note to Form No. 17, as to Half-yearly, Quarterly, Monthly, or
Weekly Payments).
All Policies issued by Friendly Societies established under the Act 13 & 14
Vict. c. 115, where such societies do not grant any Endowment, Assurance, or
Benefit whatsoever (payable in one amount either on the death of the assured, or
at any other specified period) exceeding £100; or any Annuity exceeding £30
per annum; or any Allowance in Sickness exceeding twenty shillings per week,-
are free from Stamp Duty. But if the above limits be in any case exceeded, this
privilege is at once taken away, and all Policies, whatever be the sum or benefit
insured, are henceforth chargeable with the amount of Stamp Duty prescribed by
the several Acts of Parliament in that behalf passed.
A similar exemption from Stamp Duty, in repect of their Policies, is likewise
conferred upon Friendly Societies established under any of the repealed Acts,
where such societies do not grant any Assurance, Endowment, or Benefit exceeding
the limits prescribed by the Act 13 & 14 Vict. c. 115.
A duty of three shillings per cent. per annum (on the sum assured) is payable
to Government in respect of assurances effected against fire upon all kinds of
property, except farming stock and produce. An exemption from this duty is
not expressly declared to be conferred on societies registered under the Act
13 & 14 Vict. c. 115. But it is to be presumed such exemption is implied,
where the societies do not grant assurances exceeding £100 to one person.
III. LIFE ASSURANCE AND ANNUITY TABLES.
Birthday.
Age next
I.
Whole Term Assurances-Single Lives.
Showing the Premiums for the Assurance of £100.


Yearly.
Half-Yearly.
Quarterly.
Age next
Birthday.
Yearly.
Half-Yearly. Quarterly.
14
15
16
17
18
4567∞
£
s. d.
1 12
£
S.
d.
£
S.
4
1 13
0
0 16
0 16 11
7
0
∞ ∞
8
d.
£ s.
d.
£ s.
d.
£ s.
6
39
3
3
0
1 12
3
0 16
d.
6
8
8
40
1 13 8
0 17 3
8 10
41
1 14 5
0 17 8
9 0 42
1 15
0 18
3
1
9
3 43
19
1 16
0
O 18
6
0
G
6
44
20
1 16 10
0 18 11
9 9
45
☺ ☺ ☺ ☺o co co c
3 5
1
1 13 4
0.17
1
3
7 6
1 14 7
0 17
9
3
9
3 12
3 15
3 18
21
1 17
9
o 19 4
0
9 11
46
4
1
07546
1 15 11
0 18
5
1 17
3
0 19
1
1 18
8
0 19 10
2
0 2
1
0
7
2
1
9
1 1
22
1 18 8
0 19 10
0 10
2
47
4 4 10
2
3
6
1
23
1 19 7
1
0
4
0 10
5
48
4
8 3
2
5 3
1
24
25
26
27
28
30
31
N N N N N N N N
456
2
0
8
1
0 10
0 10
9
49
4 11 11
2
7
1
1
2
2
2
2
3 11
29 2 6 4
2
2
∞ ∞ = ~ +∞ o
1 2 3 56 79
8
1
1 4
0 11
0
50
4 15 11
2 9
9
1
1 11
0 11
1
2
6
0 11
36
51
5
0
0
2 11
52
5
4 5
2 13 6
2 36
1
1
1
7 5
2
1
3
2
0 11 10
53
5 9
1
2 15 11
1
8 8
1
3 9
0 12
2
54
5 13 11
2 18
5
]
9 11
8
1
4 5
0 12
7
55
5 19
3
3
1
1
1
11
532 2 2 2 40 - 4
23 456 7∞ →
3
1
5 2
0 12 11
56
6
4 9
3
3 11
1
12
9
32
2 10
6
1
5 11
0 13
3
༤
57
6 10
8
3
6 11
1 13 4
33
2 12
0
1
6 8
0 13
8
58
6 16 10
3 10
2
1 15 11
34
2 13
17
1 7 6
0 14 1 59
7 3 7
3 13 7
1 17
35
2 15 3
1
8
4
0 14 6
60
7 10
8
3 17
36
2 17
0
1 9
3
0 15
0
61
7 18
3
4
1
37
2 18 11
1 10
3
o 15
6
62
8
6 3
4 5 3
38
3
0 10
1 11
2
0 16 0
63
8 14 10
4 9 7
1 2 2 2
31 37
1 19
1
∞ LO
3
5 11
8778 -
9
ASSURANCES FOR THE INDUSTRIAL CLASSES.
II.
Whole Life Assurances.
Showing the Weekly and Monthly Premium for the Assurance of £25,
£50, and £100, on a Single Life.

£25.
€50.
£100.
Age.
Weekly.
Monthly.
Weekly.
Monthly.
Weekly.
Monthly.
8. d.
8. d.
S.
d.
S.
d.
8. d.
8. d.
14
15
16
17
18
45678
0 24
0 9
04/
1
5
0
2/1/1
09/1/20
1
2호
​O 991/10
1
O
0 99
1
O
0 10
5
1
19
O
0 101
05
1
20
0
0 10/1/1
05
1
5566 778
0
9
2 10/1/1
09
2 11/1/20
3 0
6/1/2
0 922
3
0 10
3
7/12
0 101/
3
0 10/1/1
3
21
0 11
0
1
0 102
3
22
0
0 111/1
0
1
9
0 11
3
23
0
3
1
0
24
0
3
1
ㅎ
​25
O
3
1
1
556
1
9/1/1
0 11
3
1 10
1 10/1/
0 11/1/20
3
0 112/1
3
26
0
3
1
-
1
6
1 11
1 0
3 10
123456 7∞ −0
8
9
27
0 34
1
1
6
1 11/
1
01/
28
03
2
0
2
29
0
1
2 1/
06/1/20
30
1
0
6/1/20
31
1
3
32
1
3
33
1
31/0
34
1
3
35
1
4
36
4
1
4/
37
4
1
38
1
H+H +
39
0
1
5
40
1
Ha co
41
4
1
5
42
0
1
6
0 63
7
0 74
07/
0
8
0 81
0
0 9
094
2
2
2
2
2
2
43
0
1 61
3
- 2 2 3 4
2 2 2 2 NNNNNN 2 2 2 2 2 2
0
1
0/1/1
1
3 11
4 0
4
1
1 1
4
1
1호
​4
2/1/1
1
1
4
1
2
1
4
1
2 2 2
4
2호
​4
0123 LG ∞
31/12
5
6
8
4 9
5/1/20
1
4 11
61
1
50
1 4
5 3
8/1/2
1
9/
1
5 5
5 6/1/20
2 10
1
5 8/2
2 11/
1
6/
5 102
1
7
6 1
44
5
1
7
45
05
1
7
0 94
2010年
​3
1
Hi H
6 3
3 3
1
8
6 6
46
1 81
0 10/1/1
3 5
1
9
6
47
0
1
9
0 11
3
6
94
6 11
HAHT
48
0
1 10
0 111
3
8
1 10/
7 3
49
0
1 11
0 11/
3 9
1 11
7 6
50
0 61
2
51
06/
2
52
0 63
2
53
7
་
2
54
0
2
55
0
2
0123 +6
1
04/
3 11
1
4 1
1
14
4 3
1
2
4 6
4
1
21/10
4 8
1
3/
4 11
56
0 8
2
7
1
4
5
2
57
5888
0 8/1/20
2
9
1
5 5
0 83
2 11
1
5 8
59
0
3
0
1
6/1/1
5 11
60
0 92
3
2
1 7
6 3
2 N N N N N N 2 2 ∞∞
201
7 10
2
14
8 2
2
2
2
2
2 11
2356 79-and
8 6
34
8 11
9 4
9 9
2 73
294
10
3
10
9
11
3
3
11 10
3 2호
​12 5
61
0 101
3
62
0 102
3
63
0 11
3
397
1 8
6 6
3 43/2
13 0
5
19
6 10
36/1
13
8
7
1 11
7 2
3 82
14 4
ASSURANCES FOR THE INDUSTRIAL CLASSES.
III.
Endowment Assurances.
Showing the Weekly and Monthly Premium for the Assurance of £100,
payable at 55, 60, and 65, or on previous Death.

Age next
birthday.
Payable at 55.
Payable at 60.
Weekly.
Monthly.
Weekly.
Monthly.
Payable at 65.
Weekly.
Monthly.
8.
d.
8.
d.
S.
d.
8. d.
8.
d.
s. d.
20
20
1
2
4 7
1
0
4
O
0 11
3 8
21
1
2/1/1
4 9
1
4
2
0 11/1/20
3 9
22
1
3
4 11
1
1
4
4
1 0
3 11
23
1
3/1/1/1
5 1
1
1 1/1/0
4
5
1
4
24
1 4
5 4
1
2
4
7
1
1
4 1
25
1 4호
​5
6
1
2금
​4 9
1
1 }}
4 3
26
1
27
1
28
1
567
5
8
1
3
4 11
1
2
4 5
5 11
13
5
1
1
21/1
4 6
6 3
1
4
5 3
1
3
4 8
29
1
6
6
1
4
5 6
1 31
4 10
30
1
8/1
6 9
1
5
5
8
1
4
4 11
31
1 9
7
1
1
6
5 11
1
5 1
32
1
10/
7 6
1
6/1/1
6
33
34
35
36
37
38
39
40
41
1 2 2 NN NN3
1 11/1
7 10
1
6
1
8
3
1
8
6 8
2
2 5
2 7
29/1
245
21
8 9
1 9
7
9
3
1 10
7
9 9
1 11
7 8
10
11
30/0
12
6 20
2
8
2
1 1/
8 6
2580 3∞ 16
1
5
5 4
1
5
5
6
1 6
1
6
5 9
5 11
1
1
1
1
778 →
2
6
6 5
6
8
9
6 11
2
3
8 11
1 10
7 3
42
•
•
24
25
9 5
1 11
7
7
9 10
2 0
7 11
43
2
8
10 8
44
45
46
2 10
30/1/20
11 4
12
2
2
47
48
49
50
NNNNNNN O
2 1
8 4
2 2
8 9
4
9 3
25
9 9
2
2
79
10
11
4
2 11
11 9
3
2
12
8
L
ASSURANCES FOR THE INDUSTRIAL CLASSES.
IV.
Endowment Assurances-Single Lives.
Showing the Sum which One Shilling per Week, or Four Shillings per
Calendar Month, will Assure at the Ages of 55, 60, 65, or on previous
Death.

Age. At 55.
At 60.
At 65.
Age.
At 55.
At 60.
At 65.
20
21
£ s. d.
85 14 3
83 0
8300
£
8.
d.
£ S. d.
£ 8. d.
100 0
0
109 1 9
36
42 18
22
80 7
1
96 13
93 6 8
4
104 10 11
37
40 7 6
446
£ s. d.
54
ལ
£ s.
0 5
63 3
23
d.
51 9 10
60 19 11
100
0
38
37 16 8
48 19 7
58 16 7
23
77 13 6
90 O
96 7 6
39
35 5 10
46 13
3
56 13 3
24 75
0
86 13
4
92 16 0
40
32 15
6
44 6 11
54 9 11
25
72
0
9
83 6
8
89 4 6
41
42 0
52 6 7
27
28 63
26 69
66
1 2 3
6
80 0
85 14 3
42
39 14 3
50 3 3 3
3
77 6 8
83 9 1
43
37 7 11
47 19 11
3
3
74 13 4
81 3 11
44
35 1 7
45 17
29
60 12
9
71 19
8
78 18 9
45
32 15
6
43 14
30 58 2 3
69 6 O
76 13 7
46
31
55 11 9
66 13
4
74 8
5
47
32
53 1
3
64 2 9
72 3 3
48
41 11
39 8
37 5
33
50 10
61 12 2
69 18
49
34 48 0 O
35 45 9
59 1 7
67 12
9
50
35
2
33
0 0
1 2 3 456 0
2
56 11
0
65 7 6
V.
Assurances on Two Joint Lives.
Showing the Sum which One Shilling per Week, or Four Shillings per
Calendar Month, will Assure on the Failure of the First of two Lives.

Ages.
Sum.
Ages.
Sum.
Ages.
Sum.
Ages.
Sum.
20
£ 8. d.
10 96 13
96 13 4
15 90
83 6 8
25 77 6 8
O
15
£ S. d.
5044 3 9
55 37 5 5
6028 6 8
£ S. d.
£ 8.
d.
25
5042 0 7
55 35 1 7
40 46 13 3
4543 14
6027 100 40
3071 19
8
20 75 0 0
30 63
63 3
3 3
5039 8
5532 15
6026
232 46 O
10
35 64 2
9
40 58 2 3
45 | 51 9 10
25 69 1 6
3066 2 3
35 60 12
35 58
58 2 3
40 54 0 5
9
30
45 46 13 3
4539 10
5035 O O
0
5044
6 11
45
20 40 55 11
9
5537
6 8
45 48 19
7
5041 0 0
5534 15 0
60 28 11
LO
5
50 42 18 4
60 27 0 0
15
40
15 85 14 3
20 80 7
2575 0 0
30 69 18 0
3563 3 3
56 11 0
45 50 10
9
55 35 5 10
6028
2
0
1
25 69 18 O
3554 0
4050 3
45 45 17 1
LO CO
3
25
30 63
63 3 3
35 58 2
35
3
50 39 10 O
5534 5 6
5 50
0
5034 5 6
55 29 6 8
60 25 5 0
55 26 10 O
5531 0 0
6025 15
55
60
23
2 0
4054
45 48
0
5
6026 10 O
0
60
60 20 13
4
ASSURANCES FOR THE INDUSTRIAL CLASSES.
VI.
Assurances on Two Joint Lives.
Showing the Weekly and Monthly Premium for the Assurance of £100,
on the Failure of the First of Two Lives.

Ages. Weekly. Monthly.
Ages.
Weekly. Monthly.
Ages.
Weekly. Monthly.
S. d.
8. d.
8. d.
10 1
4 2
35
1
70
15
1 1금
​4
6
40
1
9/1/1
20
1
4 9
45
2 01/0
20
25
1
30
10
35
1 42
1 6/1/
40
1
8/12/20
45
50
886
55
60
2 2∞
1 11
3
88 4
8 21/10
3 4 13
HA HA HA HA
66 78 8♡
1
50
2 4
6
1
989985
55
29/1
60
3 51/1
1621
66 78 o
HA HA HA
42 9
S. d.
6 6
45
35
9
4558
50
55
60
∞ 222 M
8. d.
21/1
8.
d.
~~
2 6
8 9
9 11
11
13 9
40
6 9
45
8
25
1
8 11
30
1
10
9
35
1
567
5/1/20
18/12/20
566
5 10
40
50
3
55
3
9
60
3
470∞
2 2 2♡♡
3 7
1
2 11/1/ 11 9
14 4
Hla
01/10
8
5
9 3
10
12 1
4
8
14 7
4
40
1 10
17
4
25
45
2 1
--
8
3
45
15
1
20
25
1
30
1
35
1
15
40
1
45
1
50
55
WN3
2
2 3 1/2
9
4555O NN6
Ha
234579
8
50
2 42
9 6
50
45
4
6386
55 2 10
11 4
55
3 2
60
3 5/1/20
13 10
60
3
6 ON O
2 2~♡
10
0
9
10 11
12 7
9
15 0
6
94
30 1
10
40
35 1 9
1 10
9 1
30
45
2
11 O
50
2
LO
5
8 6
6 7789
6 6
50
2 11/1/
11 9
O
50
55
34/
13 5
9
60
20 1 4
5 3
20
25
1
5
30 1
3 4/1/20 13 7
55
2 10/1/ 1 1
60
3 61
14
4686 pot
60
3 11/
15 9
55
3 9
14 11
55
1
+36
556
378
60
88
60
4 4
17 3
60
4 10
19 4
35
1 10
7
4
35
40
2 0
8 0
VII.
Whole Life Assurances-Single Lives.
Showing the Sum which One Shilling per Week, or Four Shillings per
Calendar Month, will Assure on a Single Life.

Age.
Sum.
Age.
Sum.
Age.
Sum.
Age.
Sum.
£ S. d.
£ S.
14
133 6 8 27
98 1
15
130 O O
28
96 2
16
126 13 4
29
94 3
17
123 6
30
92 5
236 9 o
d.
£ S. d.
40
69 7 7 52
41
67 7
42 65 6 5
43 63 5 10
18
120
31
90 1 5
44
61
5 3
19
117 10
32
87 17 10
45
59 4 8
20
115
33
85 14 3
21
112 10
34
83 5
22
110 0 0
35
80 16
23
107 10
36
78 7
3210
46
57 4
47
55 4 5 59
48
53 4 10
49
51
4
4 3
24
105 0 0
37
75 17 11
50
25
102 10
O
38
73 8
9
51
49 47
4
47 5
38 -
*O*BODO...8*
LNOBO 3∞ o
53
£ s. d.
45 5 6
43 5 11
54
41 7 7
55
39 7 4
56
37 7 1
57
35
6 10
58
33 6
8
32
60
30 13
4
62
29 6
28
8
63
0 0
26 13
4
26
100 0 0 39
71 8
2
ASSURANCES FOR THE INDUSTRIAL CLASSES.
VIII.
Deferred Annuities.
Showing the Weekly or Monthly Payments for a Deferred Annuity (or
Pension) of £10, to commence One Year after the undermentioned Ages.

Payable at 50.
Payable at 55.
Payable at 60.
Payable at 65.
Present
Age.
Weekly. Monthly. Weekly. Monthly. Weekly. Monthly. Weekly. Monthly.
S.
d.
S.
d.
S.
d.
S.
15
16
17
18
66 7∞
O
8
2
081
2
79
0
8/1/20
2 10
O 9
3 0
LO LO LO LO
19
0 10
3 3
20
0 10/1/20
3 6
21
0 11
3 8
22
0 11 1
23
1
O
24
1
1
25
1
2
BIT HA HA HA
3 11
4
2
0
2
26
1
27
1
4
28
1
6
6
4 6
4 10
5 2
6
9
9/11
0 101
0 11
29
7/2/2
H
6 5
0 11/1/
30
1
9
7
1
31
1 10/
32
2
33
2
731
788
34
2
9 9
52
35
2
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
8 11
1
1
10
9
1
1 7/12
1 9
1 14
} 21
31/12
42/
1222222 ∞ ∞ ∞ ∞ ∞ 4 4 4 5 50 CO NN∞ -
2 46790250 02 592706-063
+
HA HA HA HIT HIGH CONT
2 346 79-and
HA HIT HIT HIT CONT
1 3
1 11
2 2
11
5
5/1/
61
1
1 9
1 10
1 11
1
8∞00-
d.
d.
S.
0 3
S.
d.
S.
d.
ས
1
O
1
0
31
1
32
1
3
5
6
NNN 2 2 2 co co co co co
3
3 5
3
4
1
5
1
6
4:
1
7
5
1
8
3
0
7
8
944
0 999
10 10/1/1/20
0 11/1/1/20
0
1 9
3
0 11/
3
54
1 11
3 1/2
1
3 5
6
2
0
3
1
1
3 8
061
2 1
1
3 10
69 19 2
3
1
07
5
4
1
4
5
7
44
1
4
9
8
9
1
9
3
44
1
124456
343434
62/200
5 7
0 91
0
1
8
0 101/1
1
9/12
6 6
0 101
0
54
1 11
7
1
0 113/2
3 11
0 61
2 01
7 9
1
4
2
O
2
6929/0
24
8
1
}
9 3
1
2
1
:::
1
1
1
378
Hla colt makt HA
2
4 6
0 74
2 44
4 11
0 7
2
61
5 3
0
8/1/20
2
89291090
5 10
9
2 1122
89 290
6 4
6 11
0 94
3 24
Ο
3 5/1
1 11
7 8
0 11
3 9
1
味
​4 1
1
4 6
1
1
1
2 45
21
4 10
5 4
•
5 5 11
1
1234 BO N∞
1 2 2 2
cott
S.
d.
7
0
H
H+ HQ HIN KIT
2 2 2 2 ∞ ∞
24
21
257
ASSURANCES FOR THE INDUSTRIAL CLASSES.
IX.
Survivorship Annuities.
Showing the Weekly or Monthly Payments for an Annuity (or Pension)
of £10, payable to the younger One Year after the Death of the elder of
two Lives.

Age of A. Age of B.
5 4
Weekly.
Monthly.
£ 8. d.
£
15
0 11
20
1
25
O
1
30
1
35
0
1
15
1945588
40
0
50
0
60
65
20
0
0
1
1 2 58051
2 2 2 457
334
284
d.
4 4
35
25/0
3
Age of A. Age of B.
Weekly.
Monthly.
L
21/
4 10
0
5 8
6 8
8 O
GAA NYA
65
0
70
157
d.
£ 8. d.
8
1
7 8
1 10
75
0 10 5
219
6779
20-
40
0
1 21/
0
4 10
45
O
1
61
0 6 2
50
0
9
9
55
0 12
4
40
1
0 16
4
1 1 4
1
1 8 4
25
1
30
0 1
35
0 1
445
9247
4 7
40
O
1 10/1/20
20
45
0 2 4
0 9 3
50
0 2 11
0 11
55
0
3 4
0 15
&UR VAO
60
0
5 1
1 O
65
0
6 11
1 7
70
0
9
9
1/1/12
1호
​1 16 5
07336 373 48 56
45
DACA NURS
60
2 2 ∞ LO
8 0
9
0 10 11
3
9
0 15
9
5
1 0 8
70
7
1
1
8 4
75
9
9
1
18 11
1 4
50
0
1
Q
5 3
6 10
0
2
9
0
3
0 13
65
4
70
O
6 4/1/
75
O 8
80
O 12
7492
O 18
1
1 15
21/10
2
LO LO CO
5
8
305245o a
9
50
0 1
5/1/
O
55
O
2
5 10
0 8 1
60
0 2 10
0 11 4
25
0 I 1
O
4 3
65
0
30
1 3
4 11
50
70
35
0
1
5/1/20
5 9
75
0
357
3 1 1 1/1/20
0 15 10
7
1 2 3
7
9
1 10 11
40
0
1
9
0
6 11
80
0 10 8/1/10
2 2 9
45
2
25
50
55
3
60
2
18/1/10
7/1/20
4 10
HA HA HA
0
0 10 10
0 14 5
8 6
85
0 14 7
2 18 5
55
0
1 8
0 19 4
60
0 2
30
45
35
60
OGGAAG LYROGGAAGC GLO
65
0 6 6
1
5 11
65
3
70
0 8 81
1 14 9
55
770
0
4
84 48
6
75
0 11
18/1/10
2
6 9
75
0 6
80
0
9
30
1
1 1/1/0
0
4
6
85
0 12
~
4/1/1
0 13
0 13 8
1 6
1 16
2 10
5
9
σL ∞ 5 40 10 96
8
35
1
4
0
5 3
40
1
7
O 6 4
60
0
1
11
0 7 8
45
0
1 11/1/
0 7 9
65
50
0
2 6
0
9 11
70
0
3 4
0 13
0 4
6
O 18
40
60
75
0
80
237
9
3 10/1/2
5 6
65
0
6 1
1 4
3
85
0 10
70
0 8 2 21
1 12 10
90
0 14
75
0 11 1
2
-fi
4
4
65
35
0
1 2
40
50
1 5
1 9
2 3
0
0 8 11
55
3
01/ O 12
4
2
0 16 7
780
4578 26
70
0
75
0
65
80
85
0 8 9
Ha Ha Ha Ha Ha Ha
2 346 ∞
81
5
27
Hla
215
∞
0 10 11
o 15
6
1 1 11
1 10 9
2 2 6
2 17
0
9
8 10
0 12 6
0 17 10
1 5 2
1 14 11
2
90
0 11 11
2
7 8
95
0 16
3
3 11
TABLE X.-Endowments for Children.
Showing the Yearly, Half-Yearly, and Quarterly Premiums for the Assurance of an
Endowment of £100, payable to Children on attaining the Ages of Fourteen and
Twenty-One Years.

Age.
At Fourteen Years.
Half-Yearly.
At Twenty-One Years.
Yearly.
Quarterly.
Yearly.
Half-Yearly.
Quarterly.
£ S. α.
£ s.
d.
£
s. d.
£ S. d.
£ s. d. £ s. d.
At Birth.
1
23 416 78
10
2
9
10
11
12
13
14
15
16
4 13
5 6
5 19 6
6 15
7 13
8 14 7
11 18 11
14 6 7
17 9 1 8 16 9
~ ~ ~ ~ 3 4 56 78
2O62675
2 7
2
1
3 11
2 12 4
1 6
6
0 13
5
2
13
8
1
7 2
2 17 10
1
9
3
0 14 11
3
6
1 10 8
3
3 1
1 12 0
3
8 5
1 14 8
3
8 11
1 14 11
0 16 3
0 17 8
3 17 9
1 19 5
3 15
2
1 18
1
0 19
4
4
8
8 5
2 4
9
4 2 1
2
1
7
1 1
1
2 10
2 12
1
4 9 11
2 5
7
1
1 0
3 1 3
4 19 3
2 10
4
7 5 2
3 13 6
5 8 2
2 14 9
1
357
1
6
9
496
6 1 10
3 1 8
1 11
6 16
7 13
76
8 14 9
3 17
4 8
39 3
8 7
1 15
10 1 5
5 2 0
11 15 11
5 19 6
1 2 2 ∞
SO 1 5
3
14 2 7
7 3 2
3 12
1 19 5
4 10
2 11 8
3 O 6
5
17 6 8
8 15 4
4 8 9
TABLE XI.-Endowments for Children.
Showing the Yearly, Half-Yearly, and Quarterly Premiums for the Assurance of an
Endowment of £100, payable to Children on attaining the Ages of Fourteen or
Twenty-one Years, Four-fifths of the Premiums being returnable in Case of previous
Death, with the Option also of Transferring the Endowment to another Child.

At Fourteen Years.
At Twenty-One Years.
Age.
Yearly.
Half-Yearly.
Quarterly.
Yearly.
Half-Yearly.
Quarterly.
£ s. d.
At Birth.
5 10 11
12345O ZOO
6
2 5
3
2
34
£ s. d. £ S. d.
2 16 3 1 8 6
£
8. d.
£
3
2
2
1 11 5
s. d. £
0 16
S.
d.
0
1 11
6
3
6 11
1 13 11
0 17
2
6 15 19
7 11 9
8 10 11
9 14 5
3 8 10
3 16 11
4 6
4 18
7
1 14 10
3 12
1 18 11
3 18
33
1 16 8
0 18
6
2
1 19 7
1
0 1
2
3 10 4 4 11
2
3 1
1
1 10
7
2
9 11
4 12
6
11 3 11
5 13
5
2 17 5
5
1 1
LO -
5
2
6 10
1
3 10
2 11
3
I 6 0
13 1 11 6 12 8
3 7 2
5 10 11
2 16 3
1
8 6
8
15 12 8 7 18
4
4 0 1 6 2 5
3 2 4
1 11 6
9
17 3 11 9 14
5
4
18
LO
5
6 15 10
3 8 10
1 14 10
10
7 11 9
3 16 11
1 18 11
11
8 10 11
12
13
11
14
15
16
9 14 5
3 11
13 1 11
15 12 8
19 3 11
4 6
4 18 7
7
2
3 10
2
9 11
5 13 5
2 17
5
6 12
8
3
7
2
7 18 4 4
0 1
9 14 5 4 18
5
In receiving proposals for Endowments for Children, it must be borne in mind, that the age of the
party must be taken from the last birth-day, and that the payments must commence as from such date,
and be so continued yearly, half-yearly, or quarterly, in advance, until the age at which the Endow-
ment is receivable shall be completed. In case any considerable interval has elapsed since the last
birthday, so as to make it inconvenient for the party to pay up the arrears of premium, the Endowment
should commence from the date of the proposal, and be receivable in a given number of complete years,
according to the age of the child, from such date.
TABLE XII.
Assurances of Capital Sums.
Showing the Annual Premium to Secure £100 absolutely at the End of
a given Number of Years.

Years. Without Profits.
With Profits.
Years.
Without Profits. With Profits.
678
9
10
11
12
£ S. d.
15 1
12 13 3
10 17
9 9
6 13
£ S. d.
8
6
7 8
13
6
0
7310742 4
15 5
12 17
252
£ S.
d.
£
S.
5
41
1 0
1
1
42
o 19
1
1
11 1 0
43
O 18 2
9 12 11
44
0 17
4
10
o 19
; 2 = 0 a
d.
7
1
1
7
9
8 10 6
45
0 16 7
o 18 11
7 12
3
46
0 15 9
o 18 2
6 17 0
47
0 15
2
0 17 4
6 4 2
48
0 14 5
0 16 8
14
5 9 4
5 13 2
49
O 13 9
0 15 11
15
4 19 11
5 3 8
50
0 13
2
0 15 4
16
4 11
8
17
4 4
18
3 18
19
3 9
20
3 7
21
3 2
22
2 18
23
2 14
24
2 11
25
2
8
26
2 5 2
27
2 2
28
2 0 1
∞ 50 1 2 75∞ 2 = NO-
4 15 5
51
0 12 6
4
8 1
52
0 12 0
4
1 8
53
0 11 5
0 14 8
0 14
1
0 13 6
3 15 11
54
0 10 11
0 13 O
3 10
9
55
0 10 6
0 12 5
3 6 1
56
0 10 0
0 11 11
3
1 11
57
9
8
8
2 18 1
58
9
2
2 14 7
59
8
9
0 11
6
0 11 0
0 10 7
1
2 11
4
60
8 5
0 10
2
2
8 5
61
0
8
1
0
9 10
6
2
5
9
62
7 9
O
9 5
2 3 3
63
0 7 5
O 9 1
29
1 17 9
2 0 11
64
0
1
0
8 9
30
1 15
8
1 18 9
65
0
6 10
0
8
5
31
1 13
9
1 16 9
66
0
6 6
0
8 1
32
1 12
1 14 11
67
6 3
0
7 10
Awwwwwww
33
1 10
3
1 13 2
68
0 6
O
0 7
6
34
1
8 8
1 11 6
69
5
1 7 3
1 10
0
70
0
36
1 5
9
1
8 7
71
0
5
96 4
0
7 3
0 6 11
4
0
6 8
37
1
4
6
1
7
3
72
0
5 1
0
6 5
38
1
3 4
1
6 0
73
0
4 10
0
6 3
39
1
2
2
1
4 9
74
4 8
0
6
40
1 1 1
1 3
8
75
0
4
6
0 5 9
After payment of five Annual Premiums, in case of a discontinuance
of the Policy, three-fourths of the amount paid to be refunded to the
Assured.
153
INDEX.
ACCOUNTS,
officer to be appointed to keep, 32.
rules must provide for keeping separate, as to, 47, 54.
rules as to, 58, 83, 89.
to be rendered by officers, 22.
how to be enforced, 22, 23, 24.
provisions as to, 54.
ACT (THE FRIENDLY SOCIETIES'), 13 & 14 Vict. c. 115.
chapter on, 7.
construction of, 113.
powers and privileges under, of societies constituted, 12.
as to certification and provisions of rules of a society under, 46.
ACTS (THE REPEALED), xxxvi. xxxvii. 45.
to be in force as to societies already established, 45.
ACTION,
to be brought in name of trustee for the time being, 26.
in action of indictment, effects of society to be stated to be the property of
trustee, 26.
not to abate by death or removal of trustee or treasurer, 26.
member of society a witness in, 35.
costs, &c. in, to be paid by society to trustee, 26, 42.
ACTUARY,
certified societies to have tables prepared by, xxviii. 8, 18.
also societies granting annuities, 18.
form of certificate, 114.
appointment of actuary to society, and his duties, 59, 86, 89.
AGENTS TO SOCIETY,
may be appointed, 72.
ALTERATION OF RULES,
the manner of, to be set forth in rules, 21, 47, 54.
alterations and amendments of rules of benevolent and charitable institutions
and societies to be registered, when seeking privileges of the Act 13 & 14
Vict. c. 115; xxxii. 17.
rule as to, 79.
provisions as to, 54.
ANNUITIES.-See also ACTUARY.
limit to amount of, to be assured, xxix. 9, 15.
member of more than one society or branch cannot receive in all more than
£30 per annum, 37.
APPEAL,
not allowed from decision made according to rules, 41, 42, 43.
nor from judgment of County Courts, 41.
nor from decision of arbitrators, 41.
nor from that of justices, 41, 52, 53.
nor from orders of Registrar, 20.
154
INDEX.
APPENDIX,
Act 13 & 14 Vict. c. 115, printed at length, 99.
Report of Select Committee on Investments for the Middle and Working
Classes, 117.
Extracts from evidence taken before such committee, 118.
Official Forms, 122.
Life Assurance and Annuity Tables, 143.
ARBITRATORS,
appointment of, 41, 42, 97.
ARBITRATION,
if rules direct disputes to be settled by, they must declare the number of
arbitrators, 41.
their mode of election, and their manner of proceeding, 41.
their decision final, and may be enforced by justices, 40, 41, 42.
may order member to be re-instated, 35, 43.
if no award made, or arbitrators appointed, justices to decide, 42.
if they decline to act, others to be appointed, 41.
rule as to, 97.
provisions as to, 52, 53.
ASSURANCE FUNDS,
fire assurance, 85; reserve, 85.
life assurance, 86; reserve, 87.
investment assurance, 89; reserve, 89.
provision as to appropriation of, 45.
ATTORNEY-GENERAL,
in England, or Ireland, when purposes of society are certified by to be
legal, Registrar may certify rules, 15.
AUDITORS,
to attest annual return, 33.
rules as to appointment and duties of, 59, 67, 68, 69.
qualification of, 67.
compensation to, 70.
provisions as to, 34.
AWARD.-See ARBITRATION.
BANK OF ENGLAND,
when money stands in books of, trustee if absent, bankrupt, or removed,
Registrar may order funds to be transferred to persons appointed by
society, 19.
transfers and payments declared valid, 19.
who shall be named in order of court for making transfers at, 19.
indemnified on making transfers, &c., 19.
BANKERS TO SOCIETY,
appointment of, 65, 66, 97.
BANKRUPT,
assignees of, if officer, to pay debts due to society, 23.
BENEFIT BUILDING SOCIETIES,
definition of, xii. 3; statistics of, 3.
original plan of, xii. xiv. ; temporary in duration, xii.
union of with Life Assurance and Provident Associations, xvii.
made permanent, xii.; and to adopt fixed tables of payments, xv.
Guarantee Annuity, Policy for, xviii.
Temporary Assurance, Policy for,
certain provisions of repealed Acts apply to, 3, 10.
established under the Act 6 & 7 Will. 4, c. 32; 3.
BENEVOLENT FUNDS,
for life assured, 87.
for fire assured, 86.
for investment shareholders, 89.
INDEX.
155
BOND,
to be given by treasurer, 21.
also by manager or other officer, clerk, &c., 92.
form of, and free from stamp duty, 44, 115.
to whom to be given, and mode of proceeding in, 22.
BRANCH SOCIETY,
may be formed, xxx. 8, 14.
rule as to formation of branches, 72.
BURIAL,
the expenses of, only, to be assured on death of child under ten, 16.
CERTIFICATE,
to be given by Registrar of two kinds, and forms of, 17, 18, 114, 115.
to be given by actuary, and form of, 17, 48, 114.
of death, to be given by surgeon or coroner, and form of, 16, 115.
of surgeon and coroner apply to all societies, 16.
rule as to, 57.
CERTIFIED FRIENDLY SOCIETIES,
may grant certain annuities, immediate or deferred, 18.
may invest with National Debt Commissioners, and rate of interest, 30.
may pay money under £50 without administration, 32, 111.
CHAIRMAN AND DEPUTY CHAIRMAN OF DIRECTORS,
appointment of, 60.
CHAIRMAN OF GENERAL MEETINGS.-See MEETINGS.
CHARITABLE INSTITUTIONS,
by being registered, may vest funds in trustees for time being, xxxii. 17.
may sue and be sued in their names, xxxii. 17.
have funds protected, and enforce rendering of accounts, xxxii. 17.
and treasurer must give security, xxxii. 17.
CHILDREN,
limit of amount payable on death of, and to undertaker, 16.
on certificate only of surgeon or coroner, 16.
CLAIMS,
payment of, 76; postponement of payment of, 77.
interest on deferred payments, 77.
COMMISSION, 73.
COMMITTEE OF MANAGEMENT,
may be appointed, 21.
rules must set forth duties and powers of, 33.
what powers may be delegated to, 33.
rules as to, 59 to 61; 66 to 71.
CONDITIONS,
of all benefits assured to be set forth in rules, 49, 50.
provisions as to, 49, 50.
CONTRIBUTIONS,
when to be kept separate, 54.
CORONER,
certificate of, on death, and form of, 16, 115.
CORRESPONDING SOCIETIES' ACTS,
do not apply to Friendly Societies, except in what cases, 38.
COUNTY COURT,
questions of equity may be settled by judge of, 40.
who may proceed ex parte on notice to other party, 40.
may require production of books, and displace trustee, 41.
or make such award as he thinks fit, which is final, 41.
DEATH, ASSURANCES ON,
to be paid only on certificate of surgeon, &c., applies to all societies, 16.
or to undertaker, if child under ten, 61.
not to nominee, if assurance granted after passing of this Act, 32.
156
INDEX.
DEATH, ASSURANCES ON-continued.
but may to widow, &c. of members, 32.
and to guardians, administrators, and assigns of members, 32.
DECLARATIONS,
to be made by member of more than one society or branch, 37.
by treasurer on investing with National Debt Commissioners, 31.
by trustees, 31; penalty, if false, 31.
DIRECTORS,
Board of, and how to be formed, 59, 66.
qualification of, 67; compensation to, 71.
chairman and deputy chairman of, 60.
attendances of, to be recorded, 70; meetings of, 60.
powers and duties of, rules as to, 71 to 78; 81 to 83.
retirement, resignation, removal, and re-appointment of, 67, 68.
trustees and treasurer to be members of Board ex officio, 63, 65.
provisions as to, 50.
DISPUTES,
rules must provide for settlement of, 52; the decision final, 40.
County Courts to decide certain, 40.
if to be settled by arbitration, names, &c., of arbitrators to be set forth, 53.
if no award made, &c., justices to decide, 42.
and also where rules appoint justices to settle, 42.
provisions as to, 40 to 43.
DISSOLUTION OF SOCIETY,
not to take place without votes of all the members, 44.
proportion of votes required, and how to be ascertained, 45.
intended appropriation or division of funds to be previously stated, 45,
stock not divisible but for general purposes of society, 45.
penalty for illegal distribution or division of funds, 38, 45.
rule as to, 80.
DIVISION OF PROFITS,
in life department, rules as to, 86 to 88.
fire department, 85; investment department, 89.
DONATIONS, may be received by society, 14.
EMIGRATION, statistics of, xx.
EMIGRATION SOCIETIES, nomineeship allowed in, 15.
may be formed, 15.
one of the trustees of, must be a justice of the peace, 15.
introduction of, xviii.
application of assurance to, xxiii.
provisions as to, 65.
EVIDENCE, rules, &c., receivable in, if signed by Registrar, 43.
EXECUTORS,
of deceased officers to pay money due to society before other debts, 23.
to deliver over, within forty days, all things belonging to society, 22.
assurance may be made payable to, 32.
FEES TO REGISTRAR,
for certificate of rules, for alterations, 20.
on reference, to be fixed by Secretary of State, 20.
by whom to be paid, against whom to be recovered, 20.
FINES,
may be enforced on members offending, 21.
rules as to, for neglect of regulations, 91.
FIRE ASSURANCE DEPARTMENT,
objects comprised in, 56.
rules as to division of profit, benevolent funds, &c., 85.
FIRE ASSURANCE, AND GROUND RENT, 90.
FIRE ASSURANCE DUTY, 142.
INDEX.
157
FREEHOLD ASSURANCE,
definition of, and application to Tenancy and Colonization, xi.
FREEHOLD LIFE ASSURANCE COMPANY, xxi.
FREEHOLD LAND SOCIETIES, xii. 3.
FRIENDLY SOCIETIES,
institution and progress of, 1.
for what purposes to be established, 14.
branches may be established, 14.
amount of sum to be assured by, xxix. 15.
may be certified or registered, 17, 18.
privileges given to certified, 28, 30.
assuring annuities must have certified tables, 18.
premises may be taken for use of, 21.
Corresponding Societies' Acts do not apply to, 38.
repealed Acts apply to, already established, 45.
already established may invest with National Debt Commissioners, 31.
but only for assurances made before passing of Act 13 & 14 Vict. c. 115; 31.
rate of interest (£3. Os. 10d. per cent.) allowed to, xxxii.
already established cannot invest more than £300 in a savings' bank,
established under repealed Acts entitled to what privileges, 32.
how they may make alterations in rules, 32.
certified, may invest with National Debt Commissioners, 30.
and at interest at the rate of two-pence per centum per diem, 30.
different, may unite, 45.
FUNDS,
application and mode of investment of, must be stated in rules, 47.
may be invested with consent of society in savings' banks, public funds,
Bank, or East-India Stock, 29.
or on mortgage of freehold, leasehold, and copyhold estates, 29.
on security of heritable property, borough, or county rates, 29.
in chartered or joint-stock banks in Scotland, 29.
or on loans to members, on security of their life policy, 30.
or with National Debt Commissioners, if tables certified, 30.
or by existing societies on account of assurance made before the Act, 31.
but not re-deposited without consent of commissioners, 31.
in the names of trustees for the time being, 29.
may be transferred, &c., 22.
may be applied in leasing, &c. premises, to be vested in trustees, 21.
and deemed their property in any action, 30.
rules as to investment of, 64.
statement of, to be sent with annual return, 9, 18.
dividends of, to be applied to use of society, 65.
provisions as to, 52.
GENERAL MEETINGS OF MEMBERS,
annual, and business of, 61; extraordinary, and business of, 62.
business, and close of, 60; votes of members at, 63.
business of adjourned, 61.
IDIOT,
mode of proceeding if trustee becomes, 69.
IMPOSITION,
justices may punish in cases of, and summon party, 38.
penalty in case of, 36.
money awarded may be levied by distress with costs, 39.
if no distress, by imprisonment, 39.
proceedings by indictment may be taken in cases of, 39.
INDICTMENT.-See ACTION.
as to proceedings for imposition, see above, 40.
member of society good witness on, 43.
158
INDEX.
INSOLVENT,
if officer become, society entitled to priority of payment, 23.
INTEREST.-See also FUNDS and Friendly SOCIETIES.
no fractional part less than one penny paid as, 31.
INTESTACY,
payment of sums under £50 in cases of, may be made by certified Friendly
Societies, 28.
if no will, or letters of administration taken out, 28.
and divided equally if no will, 28.
all payments valid as against funds, 29.
but not in case of societies already established, and amount exceeds £50, 32.
INVESTMENT ASSURANCE DEPARTMENT,
objects comprised in, 56.
rules as to division of profit, and benevolent funds, 89.
INVESTMENT OF FUNDS.-See Funds.
JUSTICES,
may require information as to society's proceedings, 38.
may enforce awards, and decide if no award made, 41.
or arbitrators appointed, or if rules so direct, 41.
may punish in cases of fraud, 38.
may order member to be reinstated, 43.
mode of proceeding for recovery of money awarded by, 42.
order of, final, 40.
LIFE ASSURANCE AND ANNUITY TABLES.-See TABLES.
LIFE ASSURANCE DEPARTMENT,
objects comprised in, 55.
rules as to division of profit, benevolent funds, &c., 86 to 88.
LIMITATION,
of duration of Act, 12.
amount to be assured by any member, 15.
of amount to be invested in a savings' bank.-See FRIENDLY Societies.
of responsibility of treasurer, trustee, &c., 22.
LOAN DEPARTMENT,
objects comprised in, 57.
rules as to, 56.
LORD ADVOCATE,
in Scotland, when purposes of society are certified by to be legal, Registrar
may certify rules, 15.
LUNATIC,
mode of proceeding if trustee become, 69.
MANAGER,
appointment, duties of, 59, 78.
to give security, 92.
provisions as to, 50.
MANAGEMENT OF SOCIETY,
by board of directors, subject to Act, and rules, 59, 71.
provisions as to, 59, 71.
MEDICAL OFFICERS,
appointment of, 59.
MEETINGS OF DIRECTORS,
ordinary and extraordinary, 60.
chairman and deputy-chairman of, 60.
votes at, 63; quorum, 60.
MEETING,
place of, to be set forth in rules, 47.
MEMBERS,
limit of benefits to be assured to, of more than one society, 15.
INDEX.
159
MEMBERS-continued.
funds may be lent to, on mortgage, 29.
or on security of their life policy, 30.
certified rules, &c., binding on, 48.
entitled to copy of annual return, 35.
unjustly expelled, may be reinstated by justices, &c., 35.
or sum of money ordered to be paid to him, 35.
may be witnesses on any trial, 35.
minors may be, 36.
disputes between society and, how settled, 52.
definition of, and entitled to attend all general meeetings, 59.
when qualified for auditors, 67.
MINORS,
for directors, 67.
may be members, but must not hold any office, 36.
may execute all instruments, and give necessary acquittances, 36.
MINUTE BOOK, 78.
MONEY,
payments of, rule as to, 66.
as to custody, and receipt of rule, 65, 66.
MORTALITY.-See RETURN.
return of rate of sickness, &c., when to be sent, 34.
from what period, form of, 38.
law of mortality assured on premiums and rates of assurance must be adhered
to in periodical valuations, 86.
MORTGAGE.-See FUNds.
NATIONAL DEBT,
societies established under repealed Acts may conditionally invest in, 30.
at usual rate of interest for past assurances, if already investors, xxxii.
and also certified societies, and rate of interest, 30.
declaration to be made on investing with, 31.
penalties, if not true, 31, 37.
sums not to be re-deposited without consent of commissioners, 32.
NEXT OF KIN,
payment to persons appearing to be, when valid, 28.
by certified societies only, 28.
not by those already established, and amount more than £50, 32.
remedy of, against party receiving money, 29.
when money to be divided amongst, 28.
NOMINEES,
not allowed, except in Emigration Societies, xxix. 15.
societies already established may not grant assurances whereby sum is pay-
able to, 32.
except as to assurances made before this Act, 32.
OBJECTS,
for which societies may be established, 14.
to be set forth in rules,-rules as to, 47; 55 to 57.
when to be certified as legal by Attorney-General, 15.
OFFICERS,
society to appoint, to keep books and accounts, 32.
rules to set forth manner of appointment, and his duties, 32.
of society to render accounts, 22.
to pay over monies, to deliver up securities, 23.
Registrar may proceed against, declining, &c., 23.
liability of executors, &c., 23.
priority of debts due from, 23.
OFFICIAL FORMS,
1. Proposal for Fire Assurance, 122.
160
INDEX.
OFFICIAL FORMS-continued.
2. Proposal for Life Assurance, 123.
3.
4.
5.
6.
Endowment, 124.
Deferred Annuity, 125.
Immediate Annuity, or an Annuity Assurance,
Survivorship Annuity, 127.
7. Life Policy Register, 128.
8. Fire Assurance Proposal Book, 129.
9. Fire Assurance Description Book, 129.
10. Fire Assurance Policy and Conditions, 130.
11. Policy of Life Assurance-whole term, and Conditions, 133.
12. Endowment Assurance Policy, 136.
13. Policy on Two Joint Lives, 137.
14. Policy on the Survivor of Two Lives, 137.
126.
15. Policy for an Endowment, with Returnable Premiums, and Conditions,
138.
16. Policy for an Endowment, with Non-returnable Premiums, 140.
17. Deferred Annuity Policy, 140.
18. Policy for Survivorship Annuity, 141.
ORDER,
of justices to be final, 40.
also of Registrar, both free from stamp duty, 44.
PARLIAMENT,
what returns to be laid before, 19.
PAYMENT,
priority of, if officers die, &c., 23.
to members, on death, in existing societies, 32.
for several purposes to be kept distinct, 54.
on assurances to children, and on death of members, 16.
non-allowance of, to nominees, 16, 32.
PENALTY,
for paying money on death without certificate, and how recoverable, 36.
for making false declaration on investing, 37.
not making returns to Registrar, 36.
for making fraudulent return, 36.
for imposition, 36.
for false declaration on receipt of any benefit, 37.
for disobeying order of Registrar, 38.
for misappropriation of funds, 38.
for giving false evidence before Registrar, 37.
PERIODICAL DIVISION OF PROFIT.-See DIVISION OF PRofit.
POLICIES OF ASSURANCE, rules as to, 74 to 78.
PREMISES, may be purchased or hired, sold or let, 21.
PRIORITY of payment of debts due officially from officers, 23.
PRODUCTION of books, &c., may be enforced by Registrar, 19.
PROFIT.-See DIVISION OF PROFIT.
PROPERTY-TAX, exemption from, 86.
RATES,
funds may be invested on security of borough or county, 29.
RATES AND TABLES OF ASSURANCE,
in societies granting annuities, must be certified by actuary, 18.
terms of, 74.
REGISTRAR OF FRIENDLY SOCIETIES,
by whom appointed, to be paid by salary, 13.
to give certificate of rules, and keep one copy thereof, 18.
fee payable to, for certificate, for order by, 20.
to lay returns before Parliament, 19.
may order stock to be transferred, 19.
INDEX.
161
REGISTRAR OF FRIENDLY SOCIETIES-continued.
may enforce production of accounts, &c., 19.
may inspect books and administer oath, 19.
order of, final, and free from stamp duty, 19.
form of certificate by, 113, 114.
returns to be sent to, 34.
REGISTRARS IN ENGLAND, IRELAND, AND SCOTLAND, 13.
REINSTATEMENT.-See MEMBERS.
REMOVAL OF TRUSTEES.-See TRUSTEES.
rule as to, 92.
REPEAL OF ACTS,
does not apply to certain societies, 45.
RESPONSIBILITY OF TREASURER AND TRUSTEE,
limit of, and for all monies actually received, 22.
RETURN,
of the funds and effects to be sent yearly to Registrars, 34.
in what form, and to be attested by two trustees and auditors, 34, 116.
and countersigned by officer or manager, 34.
every member entitled to a copy of, 34.
penalty for not making, 36.
of rate of sickness and mortality to be made to Registrar within three months
from December, 1845, 34.
similar return to be made at expiration of every further five years, 34.
copy of
any, to be laid before Parliament, 19.
RULES,
may be made by society, and may impose fines, 19.
may be altered or repealed, 47.
must set forth name of society, 47.
place of business and objects of society, 47.
the purposes for which the funds are applicable, 47.
the conditions entitling a member to the benefits, 47.
the manner of altering, &c. rules, 47.
and appointing trustees, &c., and duties and powers of each, 47.
the mode of investing the funds, 47.
how disputes are to be settled, 47.
and if by arbitration, the number of arbitrators, 47.
their mode of election and manner of proceeding, 47.
provide for keeping separate accounts, 47.
be in conformity to law, and one not repugnant to the other, 48.
not valid until certified; how to be certified, 48.
fee payable on, 20.
when certified, one copy to be kept by Registrar, and one returned to the
society, 18.
copy of, receivable in evidence, under the hand of Registrar, 43.
of certified society, may provide for payment of monies in cases of intestacy,
28.
of society already established, may provide for payments to executors, admi-
nistrators, or assigns of members, 32.
provisions as to, and certification of, chapter on, 46.
SAVINGS' BANK,
societies under the Act may invest in, 30.
limit of amount to be invested in, by societies under repealed Acts, £300.
funds, invested in, free from property tax, 86.
SCHEDULE TO RULES, 98.
SEAL (COMMON) OF SOCIETY, 72.
SECURITY.-See Bond.
SICKNESS.-See MORTALITY.
SOLICITOR TO SOCIETY,
appointment of, 59.
M
162
INDEX.
SPECIAL COMMITTEE OF DIRECTORS, 74.
STAMP DUTIES,
exemption from, in copy of rules, 44.
power, warrant, or letter of attorney, granted by trustee for,
transfer of share in public funds, 44.
but not on account of other investments, 91.
receipt for money deposited in the funds of society,
44.
44.
or received therefrom by a member, 44.
bond given on account of society, 44.
or by treasurer, trustee, or other officer, 44.
draft or order, or form of policy, 44.
appointment of agent, or certificate or instrument for revocation of ap-
pointment, 44, 142.
other documents required or authorized by Act, 44.
society, when not exempted from, 44.
STATEMENTS.-See RETURNS.
STATUTES REPEALED,
except as regards societies established under any of them, and enumeration
of, 45.
SURETIES,
bond by treasurer to be given with, 21.
SURGEON.-See CERTIFICATE.
SURVEY OF PROPERTY, 90.
SURVEYOR TO SOCIETY,
appointment of, 59.
SURVIVORSHIP, no benefit of, 89.
TABLES OF LIFE ASSURANCE AND ANNUITIES, 143 to 151.
Yearly, Half-Yearly, and Quarterly Premiums for the Assurance of
£100 on a Single Life.
I.
II.
Weekly and Monthly Premiums for the Assurance of £25, £50, and
£100, on a Single Life.
III. Endowment Assurance of £100, by Weekly and Monthly Premiums.
IV. Endowment Assurance,--showing what sum One Shilling per Week,
or Four Shillings per Month, will secure.
V.
Assurance on Two Joint Lives,—showing the sum which One Shilling
per Week, or Four Shillings per Month will secure.
VI. Assurance on Two Joint Lives for £100, by Weekly and Monthly
Premiums.
VII. Single Life Assurance, Whole Term,-showing what sum One Shilling
per Week, or Four Shillings per Month, will secure.
VIII. Deferred Annuities of £10, by Weekly and Monthly Premiums.
IX. Survivorship Annuities of £10, by Weekly and Monthly Premiums.
X. Endowments for Children of £100, with returnable Premiums.
XI.
Endowments for Children of £100, with non-returnable Premiums.
XII. Assurance of Capital Sums, Annual Premiums to secure £100
absolutely at the end of a given number of years.
TREASURER,
of Friendly Society, and registered Benevolent Society, to give bond, xxxii. 17.
to invest funds, 22.
manner of appointing, to be set forth in rules, 47.
limitation of responsibility, 22.
to render accounts and to pay over money, 22.
procuring of payment of debts due from, 23.
declaration to be made by, on investing, 31.
rule as to, 65.
TRUSTEES.-See ACTION and RESPONSIBILITY,
may take premises for use of society, 25.
resolution appointing, to be sent to Registrar, 25.
INDEX.
163
TRUSTEES-continued.
to make annual and quinquennial returns to Registrar, 34, 35.
penalty for not so doing, 36.
manner of appointment must be set forth in rules, 47.
and their duties and powers, 47.
real and personal estate vested in, 30.
may sue and be sued, 26.
if absent, Registrar may transfer stock into names of new, 19.
to give information to justices as to proceedings of society, 38.
to render accounts and pay over money, 22 & 23.
may pay sums under £50 without administration, 28.
such payment valid, 28.
priority of debts due from, 23.
UNION OF SOCIETY, OR BRANCH, 80.
VALUATION,
of life, investment, and fire departments, 85 to 89.
rules as to, 85 to 89.
VALUATION OF PROPERTY MORTGAGED, 90.
WITNESS,
member of society may be, 43.
and no objection on account of his interests, 43.
PRINTED BY COX (BROTHers) and wyMAN, GREAT QUEEN STREET.
ADVERTISEMENTS.
ALL POLICIES INDISPUTABLE.
ENGLISH & CAMBRIAN
ASSURANCE SOCIETY,
For Life, Annuities, and Loans, and for Perpetuating Leasehold
and Copyhold Property.
CHIEF OFFICE,
9, NEW BRIDGE-STREET, BLACKFRIARS, LONDON.
NATHANIEL BLAND, Esq.
JOHN BOYD, Esq.
E. B. BRADLEY, Esq.
JAMES FENNINGS, Esq.
Directors.
ISAAC HALSE, Esq.
GEORGE M. MURRAY, Esq.
CHARLES STEWART, Esq.
DANIEL WANE, M.D.
WILLAM WHITELOCK, Esq.
Auditors.
G. H. HODGES, Esq.
R. L. MIDDLEMIST, Esq.
B. WILLIAMS, Esq.
Physician.
DANIEL WANE, M.D.
Surgeon,
HENRY CHARLES JOHNSON, Esq., F.R.C.S., Surgeon to St. George's Hospital.
Standing Counsel.
Sir A. J. E. COCKBURN, Her Majesty's Attorney-General.
Solicitor.
HENRY WICKENS, Esq., Carlton Chambers.
Bankers.
Messrs. ROGErs, Olding, SHARPE, and Co., Clement's-lane.
THE ROYAL BRITISH BANK, Tokenhouse-yard.
Secretary.
GEORGE ANGUS, Esq.
Consulting Actuary.
W. S. B. WOOLHOUSE, Esq., F.R.A.S., F.A.S.
ADVANTAGES OF THIS SOCIETY.
"DECLINED" lives taken at equitable rates.
Life policies
66 INDISPUTABLE," and not liable to forfeiture.
Policies of five years' standing NOT VOID in cases of SUICIDE.
Policies granted from £20 to £5,000.
Special tables to suit the Working Classes, to whom the advantages of Life
Assurance are at present almost wholly unknown.
Medical men remunerated in all cases.
Immediate, Survivorship, and deferred Annuities, and Endowments granted
on the most advantageous terms; and every other description of risk contingent
on human life.
LOANS granted, on undoubted security of every description, upon more
advantageous terms to the borrower than in any other office, and at one-half of
the customary charges, where the sureties are resident in or near London.
Claims payable three months after satisfactory proof of death.
Prospectuses, and any further information, may be obtained from the Manager,
or from the Agents.
C. W. BEVAN, Resident Manager and Actuary.
ADVERTISEMENTS.
NATIONAL GUARDIAN
ASSURANCE SOCIETY,
FOR
LIVES, FIRE, ASSURANCE, BANKING, ANNUITIES, &c.
INCORPORATED BY ACT OF PARLIAMENT.
19, MOORGATE-STREET (near the Bank of England), LONDON.
Capital £100,000, in 20,000 Shares of £5 each; with power to
increase to £500,000.
Trustees.
Sir WILLIAM B. JOHNSTON, Bart., Regent-street; and Hilton, Aberdeenshire.
Admiral Sir Edwd. C. STRODE, K.C.B. and K.G.H., Southill-house, Somerset.
GEORGE BORLASE CHILDS, Esq., F.R.C.S., Surgeon, Finsbury-place South.
Directors.
J. O. CLARKE, Esq., 121, Fleet-street; and 8, Canonbury Villas.
FREDERICK G. FELLOWE, Esq., 16, Camden-road Villas, Camden-town.
J. C. HARDY, Esq., F.I.A., 19, Moorgate-street, City.
Sir WILLIAM B. JOHNSTON, Bart., Regent-street; and Hilton, Aberdeenshire.
J. G. LACEY, Esq., Great St. Helen's, City.
GEORGE MALLALUE, Esq., Wigmore-street, Cavendish-square.
J. R. PETTY, Esq., M.R.C.S. Eng., L.S.A., 100, Camden-road Villas, Camden-town.
WILLIAM J. ROFFE, Esq., Park-terrace, Upper Holloway.
EDWARD C. C. STRODE, Esq., Southill-house, Somersetshire.
SAMUEL P. WARD, Esq., 8, Ledbury-terrace, Westbourne-grove, Bayswater.
C. WILLIAMS, Esq., 5, Allsop-terrace, Regent's-park.
Bankers.
THE LONDON AND COUNTY JOINT STOCK BANK, 21, Lombard-street.
Managing Director and Secretary.
J. C. HARDY, Esq., F.I.A.
PECULIAR ADVANTAGES OF THIS SOCIETY.
Non-forfeiture of Policies.—Where Policies are discontinued, the whole amount of the
Premiums which have been paid will be returned, after deducting one year's Premium, the
Stamp Duty, and Medical Fee.
POLICIES, WHEN GRANTED, ARE NEVER DISPUTED.
Eight-tenths of the Profits equitably divided among the holders of Policies who insure on
the participating scale, thus securing all the real advantage arising from a MUTUAL COMPANY,
without incurring any legal or pecuniary liability whatever.
Policies adapted in amount to all classes. Monthly payments accepted.
DISEASED LIVES, or Lives which may have been "declined" by other offices, assured on
moderate terms.
Holders of whole-term Policies, on Single Lives, and of Endowment Assurances, allowed to
substitute another life for the one originally assured.
BANKING and LIFE ASSURANCE.-A plan of Assurance entirely new in England, by which
Depositors can secure to their families, after death, about twice the amount of any balance
which would have resulted from the investment of the same sum in a banking establishment.
Advances on Freehold, Copyhold, and Leasehold Property, or, with approved personal
security, on Life Assurances.
The Assurance, under special Tables, of the Lives of Members of Building Societies, to secure
in case of death a sum equal to the payment of any amount then due on the mortgage.
A correct register kept of all Transfers of Assignments of Policies for gratuitous inspection.
NO STAMP DUTY CHARGED, nor MEDICAL FEES.
FIRE DEPARTMENT.
The NATIONAL GUARDIAN offers rates of premium below those usually charged; the rates
having been prepared, so as to combine judicious economy with undoubted security.
Persons taking out Septennial Policies have very great advantages.
No charge made for Endorsements, or for Policies transferred from other offices.
A liberal and prompt settlement of losses.
The Directors meet every Wednesday; but Policies may be effected daily, between the hours
of Nine and Five o'clock, at the Office.
N.B.-Parties of unquestionable respectability may be appointed Agents, and a liberal com-
mission allowed.
JAMES CHARLES HARDY,
Managing Director and Secretary.
ADVERTISEMENTS.
LIFE POLICIES INDISPUTABLE, AND FREE OF STAMP DUTY.
TRAFALGAR
LIFE ASSURANCE ASSOCIATION,
Embracing Original and Important Principles.
INCORPORATED BY ACT OF PARLIAMENT, 7 & 8 VICT. c. 110.
AND UNDER DEED OF SETTLEMENT CONTAINING A ROLL OF UPWARDS OF
EIGHT HUNDRED PROPRIETORS.
CHIEF OFFICES,
40, PALL-MALL, LONDON.
Directors.
Chairman.-The Rev. J. HARVEY ASHWORTH, 10, South Audley-street, Grosvenor-square,
and East Woodhay, Hants.
GEORGE BERMINGHAM, Esq., Moreton Villas, Kentish Town.
ISAAC BOYD, Esq., 20, Spital-square.
EDWARD GOULD BRADLEY, Esq., 13, Berners-street, Oxford-street.
J. BERNARD BURKE, Esq., Churchyard-court, Temple, and Brompton.
EDWARD TAYLOE, Esq., Clapham-common.
Auditors.
R. P. NICHOLLS, Esq., London and County Bank, Lombard-street.
A. C. TATHAM, Esq., 11, Staples-Inn, and Holles Terrace, Highgate.
Consulting Actuary.
EDWARD BAYLIS, Esq., 76, Cheapside.
Medical Officers.
EDWARD MERYON, Esq., M.D., 14, Clarges-street, Piccadilly.
EDWARD LLOYD, Esq., M.D., 12, Charterhouse-square.
Solicitor.
THOMAS TAYLOE, Esq., 25, Bucklersbury.
Bankers.
LONDON AND COUNTY BANK, Lombard-street.
Stockbroker.
CHARLES D. CROSLEY, Esq., 1, Sun-court, Cornhill.
PECULIAR APPROPRIATION OF PROFITS.
The Directors are empowered and duly bound by the Deed of Settlement of the Association,
at each and every division, to devote two-tenths of the entire profits for the following purposes,
namely:-
1st.-One-tenth for the formation of a permanent Annuity Fund, for the maintenance of
aged or reduced shareholders, their widows and orphans; added to which 5 per cent.
per annum on the amount of subscribed capital at any time invested by them in the
capital stock of the Association. Policy-holders who have paid five years' premiums
on whole-life scale, their widows and children, also participate in this fund.
2nd.—One-tenth for the formation of a permanent Educational, Apprenticeship Fee, or
Endowment Fund, thereby securing the means of advancing in life the children of
those of the assured and shareholders, whose circumstances may at any time require
such valuable assistance.
By these means advantages are given to policy-holders and shareholders not offered by any
other society.
THOS. H. BAYLIS, Resident Manager and Secretary.
Loans granted on personal and other securities in connection with
Life Assurance.
ADVERTISEMENTS.
INDISPUTABLE
LIFE ASSURANCE.
AT a Meeting of the Members of the LONDON INDISPUTABLE LIFE POLICY COMPANY,
held at the London Tavern, the 13th of June, the following Report was read and unanimously
approved
În submitting their Third Annual Report to your consideration, the Directors have much
satisfaction in requesting your attention to the past progress, present state, and future pro-
spects of the Company.
At the date of your last Annual Meeting, the Company had issued 631 Policies, assuring the
sum of £193,573. 16s., and yielding a revenue of £7,439. 12s. 2d.,—and in the course of the
last twelve months, there have been received 439 proposals for the assurance of £148,955. 6s.
Of these proposals, 384 have been accepted and completed, assuring 110,205. 4s., and yielding
in Annnal Premiums £4,043. 8s. 7d., making the number of Policies issued, within three years
from the establishment of the Company, 1,015,-assuring £303,779, and yielding a revenue of
£11,483. Os. 9d.
At your last Annual Meeting, your Directors were enabled to congratulate you on the fact of
the number of deaths having been considerably less than the one-half of the calculated expec-
tancy. In the course of the last year, the proportion of deaths has been even less, and the
claims in the course of that period have amounted to only £1,099.
The Balance Sheet to 31st December last, and a Statement of the Assets and Liabilities of
the Company, prepared, certified, and audited in terms of the Statute under which the Com-
pany is incorporated, is presented to the Meeting; from which it appears that, after providing
for the payment of the sums assured, and outstanding debts, including the whole preliminary
expenses attending the formation of the Company, there was at that period a balance of
£17,683. 6s. 6d., exclusively the property of and divisible amongst the Members of the Com-
pany, as directed by the Deed of Constitution.
These facts will enable the Members to draw their own conclusions as to the prospects of the
Company; but it may be proper to remind them that, although almost unexampled success,
as proved by the issue of upwards of 1,000 Policies, and the accumulation of a revenue of
£11,480 within three years from the commencement of business, has arisen neither from the
aid of Loan or Annuity transactions, but is the result of the practice of pure Life Assurance,
the future business of the Company can be very much increased by their own exertions: and
seeing that the whole profits belong exclusively to the Assured-and that the Policies of this
Company are, from their date, unquestionable documents of security-the Assured have it in
their power greatly to extend the business, and thereby promote the welfare of the community
at large, and benefit themselves.
London, 72, Lombard Street,
13th June, 1851.
John Campbell Renton, Esq., M.P.
Richard Malins, Esq., Q.C.
Trustees.
Richard Spooner, Esq., M.P.
James Fuller Madox, Esq.
William Wilberforce, Esq.
Directors.
William Adams, Esq., New Broad-street.
John Atkins, Esq., White-hart-court, Lom-
bard-street.
Henry A. Bevan, Esq., John-st. America-sq.
J. T. Bramwell, Esq., Laurence Pountney-la.
John Dangerfield, Esq., Craven-st., Strand.
Robert Henry Forman, Esq., Ordnance,
Pall-mall.
John Hamilton, Esq., Alfred-pl., Thurlow-sq.
John Matthews, Esq., Arthur-st. West, City.
C. O. Parnell, Esq., Norfolk-st. Park-lane.
Wm. Williams, Esq., Rood-la., Fenchurch-st.
Auditors.
Jas. Turner, Esq., Great George-street, West- | Wm. D. Starling, Esq., Change-alley, City.
David Henry Stone, Esq., Poultry, City.
minster.
George Cumming, Esq., Westbourne-grove.
Medical Adviser.-Benjamin Phillips, Esq., F.R.S., Wimpole-street.
Bankers.-The London and County Bank.
Solicitors.-Messrs. Atkins and Andrew, White-hart-court, Lombard-street.
Secretary.-David Alison, Esq., Alfred-place, Bedford-square.
PADDINGTON LOCAL BOARD,
24, CONNAUGHT TERRACE, EDGWARE ROAD.
The Rev. James Shergold Boone, A.M., Stanhope-street, Hyde-park.
Captain Creed, Norfolk-crescent, Oxford-square.
Roger Gadsden, Esq., Maida-hill West, and Bedford-row.
Charles Pemberton, Esq., Eastbourne-terrace, Hyde-park, and Lincoln's-inn-fields.
Thomas Jervis Amos, Esq., York-street, Portman-square.
George Y. Robson, Esq., Eastbourne-terrace, Hyde-park, and New-square, Lincoln's-inn.
Medical Adviser.-J. B. Brown, Esq., Oxford-square. Secretary.-Charles Houghton, Esq.
Manager.—Alexander Robertson, Esq.
ADVERTISEMENTS.
PROFESSIONAL
LIFE ASSURANCE COMPANY,
ADMITTING, ON EQUAL TERMS, PERSONS OF EVERY CLASS AND DEGREE, TO ALL
ITS BENEFITS AND ADVANTAGES.
Capital £250,000, with upwards of Fourteen Hundred Shareholders.
INCORPORATED.
CHIEF OFFICES, 76, CHEAPSIDE, LONDON.
Directors.
Chairman.-Major HENRY STONES, LL.B.
Deputy Chairman.—-JAMES ANDREW DURHAM, Esq.
WILLIAM HESELTINE, Esq.
JACOB MONTEFIORE, Esq.
Capt. E. NASH NORCOTT, R.N.
THOMAS GEORGE WILLIAMS, Esq.
E. GAMALIEL WINTHROP, Esq.
WILLIAM WELLINGTON COOPER, Esq.
ANDREW DURHAM, Esq., of Bath and Belfast
Rev. J. W. GLEADALL, M.A.
Rev. HENRY HAMILTON, De Vesci Terrace,
Kingstown, near Dublin
HENRY HARt, Esq.
Auditors.
GEORGE BAIN, Esq., 18, Parliament-street CHARLES M. ELDERTON, Esq., Lincoln's-inn
FREDERICK WOOLLATT, Esq., Crown-court E. W. G. EVANS, Esq., 15, Basinghall-street.
Resident Manager and Actuary.
EDWARD BAYLIS, Esq.
Physicians.
ANDREW SMITH, M.D., Deputy Inspector-General of Hospitals, Army Medical Department
Office, 13, St. James's-place, St. James's.
THOMAS ALFRED Barker, M.D., 71, Lower Grosvenor-street.
WILLIAM W. GULL, M.D., Guy's Hospital.
Surgeon.
W. WHITE COOPER, Esq., F.R.C.S., 19, Berkeley-square.
Bankers.
THE COMMERCIAL BANK OF LONDON.
Solicitor.
EDWARD M. ELDERTON, Esq., 3, Lothbury.
BIRMINGHAM LOCAL BOARD OF MANAGEMENT.
Mr. JOHN WELCH
Mr. JAMES CORNS
Mr. THOMAS BROWN
Mr. JAMES KIRBY
Directors.
Chairman.-LANGSTON PARKER, Esq.
Mr. HENRY Moss
T. JAMES, Esq. (Walsall)
Rev. R. T. SAUNDERS, A.B.
G. H. WHYMPER, Esq.
Medical Referees.
L. PARKER, Esq., F.R.C.S.
Mr. W. HANDS
Mr. THOMAS STANTON
Mr. W. F. CHAPMAN
Mr. JOHN GREATWOOD
J. G. DEVIS, Esq., M.R.C.S.E.
Solicitor.-WILLIAM M. NICHOLLS, Esq.
Manager and Secretary.—Mr. E. P. DEVIS.
MANCHESTER LOCAL BOARD OF MANAGEMENT.
Directors.
Mr. JOHN PICKERSGILL
Mr. W. S. WALKER
Mr. G. P. BROCKBANK
Mr. WILLIAM PEGG
Mr. T. MYERSCOUGH
Mr. D. MACDOUGAL
Mr. JOHN WHITTAKER
W. GOLLAND, Esq. F.R.C.S.
Mr. JOHN WALKER
Medical Referees.
Mr. WILLIAM HANSON
Mr. RICHARD HARWOOD
Mr. WILLIAM SADLER
E. PHILLIPS, Esq., M.R.C.S.
Solicitor.-JOHN HEWITT, Esq.
Agents.-Mr. W. S. WALKER; Mr. JAMES HULME, Jun.
Manager and Secretary.-Mr. JAMES HULME, Jun.
By the Deed of Settlement the Directors have power to appropriate one-tenth of the entire
profits of the Company--
1st. For the relief of aged and distressed parties assured for life, who have paid five years'
premiums, their widows and orphans:
2nd. For the relief of aged and distressed proprietors, assured or not, their widows and orphans,
together with five per cent. per annum on the capital originally invested by them :
Thereby securing advantages to the living not to be found in any former existing company.
ASSURANCES against Paralysis, Blindness, Insanity, Accidents, and other
bodily and mental afflictions.
ADVERTISEMENTS.
ATHENÆUM
LIFE ASSURANCE SOCIETY,
30, SACKVILLE STREET, PICCADILLY.
ESTABLISHED FOR THE ASSURANCE OF THE LIVES OF AUTHORS, PAINTERS, SCULPTORS,
MUSICIANS, PERSONS CONNECTED WITH EVERY ART AND SCIENCE, AND THE PUBLIC
GENERALLY.
Incorporated by Act of Parliament.
Capital £100,000, in Shares of £1 each, to be paid up in full.
Directors.
Mr. SERJEANT ALLEN, Serjeant's Inn.
Rev. J. BARTLETT, M.A., Hatcham, Surrey.
Sir GEORGE BERESFORD, Bart., Beaumont-street, Portland-place.
JOHN B. BUCKSTONE, Esq., Brompton-square.
EDWARD CURTEIS, Esq., Ealing, Middlesex.
HENRY HARRISS, Esq., Howland-street.
W. JOHNSTOUN NEALE, Esq., Temple.
HENRY CHAS. SIRR, Esq., A.M., Upper Hamilton-terrace, St. John's Wood.
W. C. URQUHART, Esq., Gray's Inn.
BENJAMIN WEBSTER, Esq., Old Brompton.
Auditors.
F. PATEY CHAPPELL, Esq., Golden-square.
G. PEARCE Pocock, Esq., Norfolk-street, Strand.
EDWARD MOSELY, Esq., Coleman-street.
Physician.
JOHN HASTINGS, Esq., M.D., Albemarle-street.
Surgeons.
JOHN SYER BRISTOWE, Esq., Camberwell.
WILLIAM HOWARD, Esq., Fulham.
Surveyor.
HENRY JAMES CASTLE, Esq., King's College.
Solicitors.
Messrs. TUCKER and SONS, Sun chambers, Threadneedle-street.
Manager.
HENRY SUTTON, Esq.
Actuary.
F. G. P. NEISON, Esq., F.L.S.
Bankers.
Messrs. HOPKINSON and Co., Regent-street.
ADVANTAGES OF THIS SOCIETY.
Policies issued by this Society are indisputable in the strictest sense of the term, not merely
with regard to the declaration, as in other offices, but to any act of the Assured whatsoever.
Claims paid immediately, on satisfactory proof of death, and the exhibition of such docu-
ments as are required by law.
Premiums, after they have become due, may be renewed within the term of three months, on
proof of health, without fine and without interest.
Seventy per cent. of the profits divided among those assured on the participating scale, thus
securing all the real advantages arising from a Mutual Association, without incurring any legal
or pecuniary liability whatever.
The first division of profits will take place at the end of seven years, and thenceforward every
five years, and may he applied as a Bonus, to be added to the sum assured, in reduction of
future premiums, or in cash.
Diseased lives assured on equitable terms, the extra premiums being discontinued on
restoration of the Assured to permanent health.
Members of consumptive families assured at equitable rates.
Assurances may be effected from £50 to £10,000.
Endowment Assurances granted, payable to the Assured, should he live to a given age, or to
his representatives, should he die before.
Immediate and deferred annuities on very favourable terms.
No entrance-fee charged.
Assignments of policies registered free of charge.
The extra premiums for residence in foreign climates are lower than in other offices, and are
founded on authorized data.
Assurances may be effected in one day, the medical officers and a committee being in
attendance.
Interest at the rate of 5 per cent. allowed on the paid-up capital.
A liberal commission allowed to all who introduce business.
H. SUTTON, Manager.
ADVERTISEMENTS.
BRITISH EMPIRE
MUTUAL LIFE AND FIRE ASSURANCE OFFICES,
37, NEW Bridge strEET, BLACKFRIARS.
LIFE.
DIRECTORS.
Bennett, Charles, Jun. Esq., Royal Exchange
Bunnell, Peter, Esq., Edmonton.
Burton, John Robert, Esq., Dover Road.
Cartwright, Richard, Esq., Chancery Lane.
Cuthbertson, Francis, Esq., Aldersgate St.
Gardiner, B. Webb, Esq., Princes Street,
Cavendish Square.
Gover, William, Esq., Greenwich.
Gover, J., Esq., Cole St. North, Gt. Dover Rd.
Groser, Wm., Esq., Red Lion St. Clerkenwell
Lewis, George Cyrus, Esq., Lowndes Terrace,
Knightsbridge.
Millar, R. J., Esq., Holland Grove, N. Brixton
Sanders, J., Esq., Sutherland Sq., Walworth.
AUDITORS.
Burge, George W., Esq., Gt. Cambridge St.,
Hackney Road.
Porter, Joseph Long, Esq., Sloane Street.
BANKERS.
London and Westminster Bank, Lothbury.
SURGEON.
John Mann, Esq., Charter House Square,
SOLICITORS.
Messrs. Watson & Sons, Bouverie St., Fleet St.
SURVEYOR.
Thomas Turner, Esq., Bucklersbury.
SECRETARY AND ACTUARY.
William Sutton Gover, Esq., F.I.A.
FIRE.
DIRECTORS.
Blyth, John, Esq., Aldersgate Street.
Cartwright, Richard, Esq., Chancery Lane.
Cuff, J. Harcombe, Esq., St. John's Wood.
Cuthbertson, Francis, Esq., Aldersgate St.
Freeman, G. S., Esq., Camberwell.
Gould, George, Esq., Loughton, Essex.
Low, James, Esq., Gracechurch Street.
Miers, Thomas, Esq., Upper Clapton.
Olney, Thomas, Esq., Borough.
Wilmshurst, Joseph, Esq., Addison Terrace,
Kensington.
AUDITORS.
Latter, Robert, Esq., Fenchurch Street.
Pewtress, Joseph W., Esq., Gracechurch St.
BANKERS.
Messrs. Barclay, Bevan, Tritton, and Co.,
Lombard Street.
SOLICITORS.
Messrs. Watson and Sons, Bouverie Street,
Fleet Street.
SECRETARY.
William Sutton Gover, Esq., F.I.A.
PRINCIPLES.
1. These Societies are entirely distinct in their funds and management.
2. They adjust equitably the payments and the profits of each Member.
3. And return each Member the entire surplus, above the cost price to the Offices of his
insurance.
4. And lend the amount assured to the Member, should he require it, on security, to be
repaid by certain instalments, the Member receiving the amount net, without any
deduction for legal expenses.
5. The justice of their principles, and their suitability to the wants of the public, have
obtained the approbation and recommendation of numerous and influential public
journals, and an amount of business very far beyond the most sanguine expectations
of their founders.
6. In the LIFE COMPANY there is a Saved Capital of £20,000; in the FIRE SOCIETY a
subscribed Guarantee Fund of £15,000.
7. In the LIFE COMPANY about 6 per cent., and in the FIRE SOCIETY one-third of the
premiums have covered all losses.
8. The LIFE COMPANY transacts all kinds of assurance business, involving loss by life
contingencies, including the important branch of invalid lives.
9. Both offices have introduced some novel and useful improvements in assurance business.
10. A return of 12 per cent. will be made on all premiums received on Policies three years in
force at Midsummer, 1851.
POLICIES ISSUED,

INVESTMENT
FIRE
LIFE
TOTAL
ASSURANCES. ASSURANCES. ASSURANCES. ASSURANCES.
ANNUITIES.
YEAR.
No.
Amount
Assured.
No.
Amount
Assured.
No.
Amount
Assured.
No.
Amount
Assured.
No.
Yearly
Payment.
1847 257 49,998 193 £13,605
of 1851
450
1848 311 48,039 515 30,043 617 £258,235 1,443
1849 708 107,630 460 26,955 1,505 619,978 2,673 754,563 13
1850 809 136,365 410
656,425 2,899 820,805
1stdyr. 362 69,202 120
322,642 1,300 400,694 5
£63,603
9
£155
336,317 7
270
280
28,015 1,680
8,850 818
14
203
175
Total 2,447 411,234 1,698 107,468 4,620 1,857,280 8,765 2,375,982 48
£1,083
ADVERTISEMENTS.
UNITED MUTUAL
LIFE ASSURANCE SOCIETY,
54, CHARING-CROSS, LONDON.
(Incorporated under the 7 & 8 Vict. cap. 110.)
Directors.
SIR ROBERT PRICE, Bart., M.P.
The Hon. W. E. FITZMAURICE.
The Rt. Hon. the EARL OF Orkney,
FREDERICK BRYANT, Esq.
THOMAS W. KENNARD, Esq.
ANDREW LAURIE, Esq.
CHARLES LIDDLE, Esq.
WILLIAM ROGERS, Esq.
W. E. SNOW, Esq.
Resident Director.-THOMAS PRITCHARD, Esq.
Consulting Actuary.-W. S. B. WOOLHOUSE, Esq.
Physicians.—Dr. SOUTHWOOD SMITH; Dr. J. HENRY BEnnet.
Surgeons.-R. D. GRAINGER, Esq.; M. F. WAGSTAFFE, Esq.
All the profits divided amongst the members.
All Policies Indefeasible and Indisputable, and by the Deed of Settlement it is not competent
for the Society to question any statement or communication made previously to the granting of
any Policy, or in consequence thereof to delay payment of the sum assured.
Invalid Lives assured at equitable rates.
Special Tables for Members of Building Societies.
Half-credit rates of premium for the first five years.
Policies commuted to others of smaller amount should the Assured be unable to keep up the
payments.
Immediate and Deferred Annuities and Endowments granted on liberal terms.
Loans granted to Assurers, and Policies purchased from persons wishing to discontinue their
Assurances.
Prospectuses and full particulars, with copies of the Report of the Meeting, may be obtained
on application to the Resident Director, or any of the Agents.
THOMAS PRITCHARD, Resident Director.
PALLADIUM
LIFE ASSURANCE SOCIETY,
ESTABLISHED 1824.
Capt. C. J. BOSANQUET, R.N.
ROBERT CHEERE, Esq.
Directors.
WILLIAM A. GUY, M.D.
HENRY HARVEY, Esq., F.R.S.
JAMES Murray, Esq.
PATRICK COLQUHOUN, Esq., LL.D.
SIR JAMES B. EAST, Bart., M.P.
CHARLES ELLIOTT, Esq., F.R.S.
JOSEPH ESDAILE, Esq.
PHILIP ROSE, Esq.
SAMUEL SKINNER, Esq.
WILLIAM T. THORNTON, Esq.
Physician.-SETH THOMPSON, M.D.
NEW RATE OF PREMIUMS.-The Directors of this Society, with a view of meeting the
wishes of a large class of persons who prefer the present advantages of reduced premiums to a
prospective bonus, have constructed a new scale, based on the safest and most approved data.
EXAMPLE TO INSURE £100.

Age.
For One Year.
For Seven Years.
For Whole Life.
20
0 15 11
0 16 6
30
0 18 5
1 13 1
2 2.10
40
1
2 8
2 18 7
Other ages at proportionate rates.
0 19 6
1 4 10
The Society now offers the following advantages:
Undoubted security, guaranteed by a large capital.
Facility in the settlement of claims.
Liberty to travel in any part of Europe without extra premium.
Loans equivalent to the value of the policies.
To those who desire to secure the advantages of a bonus, by a small additional outlay, the
deed of settlement assigns four-fifths of the profits.
Bonuses may be commuted for equivalent reductions of premium at the option of the assured,
by which the amount originally assured may be kept up at a continually decreasing cost.
Insurances are granted to meet any specified contingency.
Premiums may be paid in one sum, or in any other equitable manner, to meet the convenience
of the public.
The age of the life assured is admitted on the policy at the time of effecting the assurance, or
at any other time, on production of satisfactory proof.
Every information will be given, either at the offices, No. 7, Waterloo-place, London; or by
the Society's agents, established in all principal towns.
J. LODGE, Actuary and Secretary.
ADVERTISEMENTS.
ENGLISH WIDOWS' FUND
AND
GENERAL LIFE ASSURANCE ASSOCIATION.
Capital £200,000.
CHIEF OFFICE, No. 67, FLEET STREET, LONDON.
President.-His Royal Highness the DUKE OF CAMBRIDGE.
Vice-President.-The Rt. Hon. the EARL OF CARLISLE.
The Baron Knesebeck.
Directors.
Chairman.-Edward Esdaile, Esq.
Augustus F. Bayford, Esq., LL.D.
James Layton, Esq.
Robert Smith, Esq.
Henry Birchfield Swabey, Esq.
Abiathar Brown Wall, Esq.
Richard Westbrook, Esq.
Thomas Neufville Crosse, Esq.
Frederick William Green, Esq.
William Hamilton, Esq.
George Henderson, Esq.
Trustees.
Edward Esdaile, Esq.
William Newton, Esq.
Richard Westbrook, Esq.
Septimus Read, Esq.
Auditors.
Thomas Robinson, Esq., Resident Director.
Henry Birchfield Swabey, Esq.
R. Austwick Westbrook, Esq.
Henry White, Esq.
Bankers.—Messrs. Puget, Bainbridges, & Co., 12, St. Paul's Church-yard.
Joint Solicitors.
G. Kennet Pollock, Esq., 19, Essex-street. John Robinson, Esq. 30, Bloomsbury-square.
Consulting Physician.-Edwin Lankester, M.D., F.R.S., F. L.S., 22, Old Burlington-street.
Surgeon.-Reginald Read, Esq., 1, Guildford-place, Russell-square.
Actuary and Secretary.-Thomas Walker, B.A.
MANCHESTER BOARD.
OFFICE, 30, BROWN STREET.
Daniel Grant, Esq.,
Sir Elkanah Armitage.
William Fairbairn, Esq.
Henry Houldsworth, Esq.
Henry Beecroft Jackson, Esq.
Consulting Surgeon.-Thomas Dorrington, Esq.
Chairman.
William Nicholson, Esq.
James Aspinal Turner, Esq.
William Benjamin Watkins, Esq.
Joseph Whitworth, Esq.
William Nicholson, Secretary.
ADVANTAGES OFFERED BY THIS SOCIETY.
Four-fifths of the Profits are divided amongst the Assured on the participating scale.
Rates of Premium lower than any other office where a similar division of profits is made to
the policy-holders.
Payment of Premiums taken annually, or by half-yearly, quarterly, monthly, or weekly
instalments, at the option of the Assured.
Claims upon Policies of £100 and under, paid within one month after proof of death.
Medical men remunerated in all cases for their reports. The usual commission allowed to
Solicitors and Agents.
Prospectuses, forms of proposal, and every requisite information, may be obtained on appli-
cation at the office, or will be forwarded by post. THOMAS ROBINSON, Resident Director.
MITRE
LIFE ASSURANCE ASSOCIATION,
23, PALL MALL, LONDON.
TO EMIGRANTS and COLONISTS of the Middle and Industrious Classes the Association
presents peculiar benefits, as the rates of extra Premium for residence abroad are calculated at
a much reduced scale, determined from the most recent and complete experience of the laws of
mortality affecting the Colonies.
Branch Benefit Emigration Societies are new in course of formation in various parts of the
Kingdom, under the superintendence of a Central Committee, comprising Directors of the
MITRE Association, in conjunction with other friends of reproductive colonization, to be con-
ducted on the system of the well-regulated Benefit Building Societies, and embracing a new
application of the Life Assurance principle. The rules will be certified as safe and equitable
by Arthur Scratchley, M.A., author of the well-known Treatise on Benefit Building Societies
and Emigration.
The Directors of the MITRE are ready to afford advice, encouragement, and the necessary
information to the promoters of such Associations.
W. BRIDGES, Actuary and Secretary.
ADVERTISEMENTS.
EXPERIENCE
BENEFIT
BUILDING
SOCIETY.
Enrolled pursuant to Act of Parliament, 6 & 7 Wm. IV. cap. 32.
The
Established in the year 1847, upon the Permanent Principle, with Fixed Tables for Advances,
doing away with the uncertainty and injustice of the Bidding and Rotation Systems, with Law
Charges on Mortgage Deeds defined, admitting Members without paying up arrears.
payments of each Member to terminate in 13 years from the commencement.
ORIGINAL SHARES, 100 EACH. SUBSCRIPTIONS, 28. PER WEEK PER SHARE, PAYABLE
MONTHLY. ENTRANCE FEE, 1S. PER SHARE. NO REDEMPTION FEE.
No Extra Charges to Borrowers, as in most other Societies.
Trustees.
STEPHEN OLDING, jun., Esq., Clement's-lane, Lombard-street.
WILLIAM MASON, Esq., Brighton-terrace, Brixton.
R. F. BLACKMORE, Esq., 10, Cork-street, Bond-street, and Mitcham, Surrey.
Directors.
Messrs. CHARLES ASPREY, 166, New Bond-street.
W. C. MASON, Serle's-place, Lincoln's-inn.
C. T. PRATT, jun., Vineyard-walk, Clerkenwell.
J. NICKOLS, Matilda-street, Caledonian-road, Islington.
J. L. ABLETT, 234, Regent-street.
JAMES ROWLAND, 30, Albion-street, Hyde-park.
D. Cox, 94, Leather-lane, Holborn.
HENRY TRUEFITT, Andover House, Fulham.
R. LAWRENCE, 27, Tottenham-street, Fitzroy-square.
W. LAWRENCE, 27, Tottenham-street, Fitzroy-square.
Solicitor.-EDWARD ALLAN, Esq., 14, Clement's-inn, Strand.
Surveyor.-JOHN BARRNETT, Esq., 3, Verulam-buildings, Gray's-inn.
Bankers.-Messrs. ROGERS, OLDING, and Co., Clement's-lane, Lombard-street.
Secretary.-Mr. J. M. LACEY, 11, Robinson's-row, Kingsland.
The Meetings of the Society are held at the Mitre Tavern, Fleet-street, on the First Wed-
nesday in every month, from 7 till 9 o'clock, to receive subscriptions, and explain the principles
of the Society.
OBJECTS OF THE SOCIETY.
To enable all classes of society, who for want of capital are compelled to pay heavy rents, to
purchase the house they live in, or other property, by little more than the amount of their
rent, or in some cases even less, depending on the circumstances of the purchase, or to erect
one or more dwelling-house or dwelling-houses.
To assist members to pay off incumbrances on their property by easy monthly subscriptions,
avoiding the possibility of being called upon for payment in one sum, of the amount borrowed,
so long as the subscriptions are paid, according to the rules.
To assist members buying at auctions by paying the deposit, under arrangements as specified
in the rules.
To afford facilities for making provision for after-life, and in case of death, for widows, or
children, without the heavy payments, as in an assurance of life, so often beyond the means of
the assured to continue; and instead of paying away money in old age for premiums (never
during life receiving any benefit), to have full possession of the property free from all payments
or control, after the expiration of the society.
The rules and tables are so calculated that the borrower and invester have equal advantages,
with power to prevent any undue monopoly of the funds, and to enable borrowers to pay off
their mortgages at any time, with interest on the sums paid in advance, and to members not
having borrowed, to withdraw at any time after the first year their subscriptions, with interest
thereon, subject to the rules referring thereto, and at about double the rate allowed by Savings'
Banks.
To persons borrowing to purchase property, or to pay off existing mortgages, this society
offers great advantages.
The following is an illustration of the mode in which this society is beneficial to borrowers:—
A shareholder paying an annual rent of £35 wishes to purchase his house, say a leasehold of
40 years unexpired, the purchase-money required is £350; value of shares in the first year
£50 each, therefore requiring 7 shares to produce £350, and at 2s. per week per share is equal
to £5. 4s. per year.
7 shares at £5. 48. per share, £36. Ss. per year, or for 13 years..........
Deduct rent saved, 13 years, at £35
£473 4
455 0
£18 4
Being only £1. 8s. per year above the rent, or in 13 years, a Total of......
Shareholders may pay in advance, and a discount will be allowed on such payments.
Prospectuses gratis, or rules, price 1s. may be had of any of the officers, or at the office, or
on receipt of eighteen postage stamps, they will be forwarded to any part of the country on
application to the Secretary.
ADVERTISEMENTS.
GREAT AND IMPORTANT BENEFITS.
NOTICE.-Persons can be members of the LAND and BUILDING SOCIETY, or of the
BENEFIT SOCIETY, or of both Societies, as they think proper.
BRITISH EMPIRE FREEHOLD LAND AND BUILDING SOCIETY,
AND THE
UNITED PATRIOTS' NATIONAL BENEFIT SOCIETY.
UNITED IN ACTION.
Enrolled and Empowered by Act of Parliament to extend over the United Kingdom.
AGENTS REQUIRED TO FORM LOCALITIES IN ALL PARTS OF GREAT BRITAIN.
Bankers.-The Commercial Bank of London (Branch) 6, Henrietta-street, Covent Garden.
Society's Office.-No. 13, Tottenham-court New-road, St. Pancras, London.
DANIEL WILLIAM RUFFY, Founder, Manager, and Secretary.
Mr. JOHN SMITH, Treasurer, Honeyballs Brewery, Stamford Hill, Stoke Newington.
ADVANTAGES IN LAND AND BUILDING SOCIETY.
First. To enable Members to build dwelling-houses.
Second. To afford the means of purchasing both Freehold and Leasehold Houses or Land.
Third.—To advance mortgages on property held by Members.
Fourth. To enable mortgagees, being Members, to redeem their property.
Fifth. To give to Members a higher interest than is yielded by ordinary investments.
Sixth. To enable parents to make endowments for their children, or husbands for their
wives, or for marriage settlements.
Seventh. To purchase a piece of freehold land of sufficient value to give a legal title to a
County Vote for Members of Parliament.
Repayments for a Loan of £100 with interest. Surveyor for examination of Property, and
Expenses of Solicitor for executing Deed of Mortgage, paid by the Society.

Term of Years.
Monthly.
Quarterly.
£. s. d.
£. s. d.
5 Years.
2 4 2
10
1 4 8
""
13
1
""
16
0 8
0 18
2002
6 12 4
3 13 10
3 0 11
2 14 4
Value of Shares, and Payments for Investors.
Full Share
Half Share
Quarter Share.
·
Payment.
£120
£ 60
£ 30
Per Week.
2s. 8d.
1s. 2 d.
Os. 7 d.
Per Month.
10s. 6d.
58. 3d.
2s. 8¿d.
Entrance Fee, including Certificate, Rules, &c., 4s. per share, and 28. 6d. for any part of
share. No arrears to pay. Persons can enter on the first Wednesday in each month.
BENEFITS ASSURED IN THIS SOCIETY.
The Member being Free to Half the Benefits in Six Months from his date of entering.
In Sickness per Week
Death of Member
1st Div. 2nd Div. 3rd Div.
4th Div. 5th Div. 6th Div.
£. s.
£. s.
£. s.
£. s.
£. s.
£. 8.
0 18
0 15
0 11
0 9
0 7
0 7
20
0
16 0
12 0
10 0
6 0
2.10
10
0
8 0
•
From £5 to 20 0 £5 to 20 0 £5 to 15
0 6
0 6
6 0
05 to 10
0 4
5
0
3
0
05 to 10
0
5 0
0
4
0 4
Death of Member's Wife or
Nominee
Loss by Fire
Superannuation, per Week
For Medicine, Gift, Widow and Orphan, Benefits, &c., see and read the rules.
The Entrance Money (which can be paid by instalments) is from 3s. to £1. 1s. 6d., according
to Age, and the Division entered by the candidates.
PAYMENTS FOR SICKNESS AND MANAGEMEMT PER MONTH.
1st Div. 2nd Div. 3rd Div. 4th Div.
If under 30 years of age.. 28. 7d.
..
28. 1d.
28. 3 d.
5th Div. 6th Div.
18. 1d.
18. Od.
1s. 24d.
18. 3 d.
..
..
..
1s. 7d.
18. 8 d.
..
1s. 4d.
1s. 5 d.
··
··
If under 40 years of age.. 2s. 93d.
If under 45 years of age.. 38. Oąd. 28. 54d. 1s. 10 d. ls. 7d.
If under 20 years of age, no Levies in the Sixth Division.
Levies according to the demands on the Divisions per Quarter.
The Benefit Society has already paid to its Members benefits in sickness, superannuation,
loss by fire, and deaths, 11,331. 7s. 11d.; and has now a capital of from £3,000 to £4,000.
The surplus capital of the Benefit Section is invested in the Land and Building Section.
Blank forms and information for the admission of Country Members, for appointing
agents, &c., can be obtained by letter, prepaid, enclosing three postage stamps; copy of Rules
of either Society twelve postage stamps, to
D. W. RUFFY, General Secretary, 13, Tottenham Court New Road, St. Pancras, London.
Number of present Members, 2,500.
ADVERTISEMENTS.
OFFICE ESTABLISHED FOR THE INSURANCE OF ALL KINDS OF PROPERTY
IN TOWN AND COUNTRY,
ROYAL
FARMERS'
&
& GENERAL
FIRE AND LIFE INSURANCE, LOAN AND
ANNUITY COMPANY.
Established 1840. Empowered by Special Act of Parliament.
Capital £500,000, subscribed by 1,800 Shareholders.
PRIVATE HOUSES and their contents insured at 1s. 6d. per cent.
FIRE INSURANCE of every description effected at moderate Premiums.
LIFE INSURANCE.-FOUR-FIFTHS, or EIGHTY PER CENT. of the PROFITS of
LIFE ASSURANCE divided amongst the participating Policy-holders.
No Charge for Policy-Stamp.
Policies indisputable, thereby rendering them a perfect security.
Medical attendants remunerated for their reports in all cases.
The guarantee of an ample Capital.
The Bonus added (March, 1848) averaged 26 per cent. on the Premiums paid.
Liberal Commissions allowed.
Every species of LIFE INSURANCE effected.
Loans granted.
Agents are appointed in all the principal Towns in the Kingdom, of whom Prospectuses and
every information may be obtained, or at the Office, Strand, London.
WM. SHAW, Managing Director.
LICENSED VICTUALLERS'
AND GENERAL
PERMANENT BUILDING AND INVESTMENT SOCIETY.
Trustees.
CHARLES BLEADEN, Esq., King's Head, Poultry.
STEPHEN OLDING, jun., Esq., Clement's-lane, Lombard-street.
ISAAC WILLS, Esq., Grosvenor-place West.
Chairman.
BENJAMIN BINGLEY, Esq., Shoreditch.
Solicitors.
Messrs. WIRE and CHILD, St. Swithin's-lane.
M. Lewis, Esq., Wilmington-square.
Surveyors.
Mr. HENRY HAINES and Mr. W. F. HUTCHINS.
Shares, £50. Fixed Entrance Fee, 3s. Subscription on Investment Shares, 10s. per month
for five years only. Advances will be granted for any period-the subscription for which, upon
each share of £50, will be as follows:-

Monthly. Quarterly. Half-yearly. Annually.
Term of Advance.
L. s. d.
£.
Five years
Seven years.
1 0 6
Ten years.
Twelve years
Fifteen years
0 15 7
0 12 0
0 10 7
09 3
£.s. d.
3 1 6
2 6 9
1 16 0
1 11 9
1 7 9
£. s. d.
6 2 6
4 13
3 11
3 3
2 15 2
62722
2
£. s. d.
12 3 11
9 5 7
7
7 2 5
6
5 11
5 9 10
No Redemption Fee. No Back Payments on Shares, or increased Entrance Fee. The full
amount advanced upon each share. This society being formed upon the PERMANENT Prin-
ciple, Shareholders may join at any period, and their subscriptions commence from that date.
OFFICES, 4, OLD JEWRY, CITY,
Where Prospectuses may be obtained, and Shares taken daily from 11 to 4 o'clock, or by letter
addressed to
HENRY BROOKS,
G. F. HAWKINS,} Managers.
ADVERTISEMENTS.
LONDON
AND
METROPOLITAN
PERMANENT
COUNTIES
BENEFIT BUILDING SOCIETY.
Offices:-8, CHARING CROSS, LONDON.
Trustees.
THOMAS SOMERS COCKS, Esq., M.P., Charing-cross.
HENRY COE COAPE, Esq., Winchester-house, Putney.
EDMUND LUCAS, Esq., Millbank-street, Westminster, and Wandsworth.
Solicitors.
Messrs. LETHBRIDGE and MACKRELL, 25, Abingdon-street, Westminster.
Bankers.
The LONDON and COUNTY BANK, Lombard-street.
Treasurer.
Mr. WILLIAM DEANE, 5, Ponsonby-street, Crescent-road, Millbank.
Manager and Secretary.
Mr. JAMES BREWER, Upper Fountain-street, City-road.
The Investing Shares are 100, £50, and £25 each. Entrance Fees, 2s. 6d. 1s. 6d. and 1s.
per share. Monthly Subscriptions, 13s., 6s. 6d., or 3s. 2d. per share, for thirteen years, to
commence at any time. Advances are made to Members for terms of five, seven, ten, twelve,
or fourteen years, repayable by fixed monthly subscriptions.
Members may withdraw at any time, after the first twelve months.
Applications for Shares and Agencies to be made by letter (post-paid) to the Manager,
Upper Fountain-street, City-road.
MAGNA CHARTA
PERMANENT
BUILDING AND INVESTMENT SOCIETY.
Mr. ALFRED T. BowSER.
Trustees.
J. C. HARDY, Esq.
RICHARD WILLIAMS, Esq.
Directors.
Mr. WILLIAM BRASS, Jun.
Mr. EDWArd Brooks.
Mr. FREDERICK Bryan.
Mr. GEORGE Dean.
Mr. HENRY AUGUSTUS DEANE.
Mr. GEORGE HOOPER.
Mr. ALEXANDER ROBERTSON.
Mr. THOMAS ROBINSON.
Mr. THOMAS WILSON.
Mr. WILLIAM W. WILSON.
Treasurer.
Mr. GEORGE HOOPER, 51, St. Mary Axe, and Sion College Garden.
Bankers.
Messrs. Rogers, Olding, & Co., Clement's-lane, Lombard-street.
Auditors.
Mr. THOMAS WALKER, B.A.
Mr. EDWARD M'KEone.
Solicitors.
Mr. J. L. FoOSTER, 4, Dowgate-hill, and Hertford.
Mr. WALTER UPWARD, 3, Copthall-court, London.
Surveyor.
Mr. HENRY GARDINER, 4, Bank-chambers, Lothbury.
Secretary.
Mr. GEORGE EDWARD COWLEY, 5, Denbigh-terrace, Battersea; and Garraway's Coffee
House, Change Alley, Cornhill.
The shares of the Society will be of the ultimate value of £100 each. Entrance Fee, 2s. 6d.
Monthly Subscriptions, 128. 8d. per share for Ten Years only, to date from the 15th day of the
month and year in which the member is admitted.
Investing Members retiring before the expiration of ten years will receive back their
subscriptions, with 6 per cent. Compound Interest.
Advances of money, not exceeding £800 to one person, are made to members, by ballot, for
periods of five, seven, ten, twelve, or fifteen years, repayable by monthly or quarterly
subscriptions during either of those periods, as may be agreed upon.
Respectable Influential Parties desirous of being appointed Agents in London and the
Country, may apply personally or by letter to the Secretary for particulars.
N
ADVERTISEMENTS.
THE PEOPLE'S
(PERMANENT)
BENEFIT BUILDING SOCIETY.
CITY DISTRICT.
Established May, 1847, pursuant to Act of Parliament, 6 & 7 Wm. 4, cap. 3.
Trustees.
WILLIAM HENRY BRUCE, Esq., 1, Trump-street, Cheapside.
SAMUEL READ, Esq., London-wall.
Bankers.-London and County Bank, Lombard-street.
Solicitor.-John Richards, Esq., Charterhouse-square.
Surveyors.-Mr. J. B. Shepherd, 14, Bucklersbury; Mr. John Young, 35, King-st., Cheapside.
Manager.-Mr. Ferdinand M. Ball, 44, Regent-street, Piccadilly.
Shares, £25, to be realized by Monthly Subscriptions of 10s. per share, commencing at the
member's admission. Entrance Fee, 2s. 6d. per share.
The Subscription Meetings are held at RADLEY'S HOTEL, 10, New Bridge-street, Blackfriars,
on the First Monday in every month, commencing at Half-past Seven, P.M.
THE
PROFESSIONAL AND COMMERCIAL
BENEFIT BUILDING SOCIETY.
Trustees.
SAMUEL DRIVER, Esq., Whitehall.
JAMES WILLIAM FARRER, Esq., John-street, Berkeley square.
Rev. JOHN JENNINGS, St. John's Rectory, Westminster.
Bankers.-The Commercial Bank of London, Henrietta-street, Covent-garden.
Solicitor.—W. W. Fisher, Esq., 3, King-street, Cheapside.
Surveyor.-R. R. Arntz, Esq., 18, Smith-square, Westminster.
Secretary. Mr. Ferdinand M. Ball, 17, Garway-road, Westbourne-grove.
-
The Funds of the Society are raised by shares of £25 each, to be realized by the monthly or
quarterly subscriptions of its members. New Shares can be taken up at any time, without
arrears.
The Society consists of Two Classes of Members, viz. Depositors and Investers. The
Depositing Members will be required to pay an Entrance Fee of 2s. 6d. per share, and a
monthly subscription of 10s. until the full value of £25 per share shall be thereby realized. The
Anticipating or Borrowing Members will be required to pay an Entrance Fee of 5s. on each
share anticipated, and a monthly subscription in proportion to the term of years, which they
may select as most convenient to themselves for repaying the shares advanced.
OFFICE:-44, REGENT-STREET, PICCADILLY.
Attendance daily, from Four to Six o'clock, P.M.
The Society's Meetings are held on the Second Thursday in every month, commencing at
Seven o'clock, P.M.
THE LONDON PERMANENT BENEFIT BUILDING SOCIETY
AND
SAVINGS' INVESTMENT FUND.
Enrolled October, 1848, pursuant to Act of Parliament, 6 & 7 William IV. cap. 32.
Trustees.
WILLIAM LLOYD BIRKBECK, Esq.
WILLIAM HENRY BRUCE, Esq.
GEORGE STOKES, Esq.
Secretary.-Mr. Ferdinand M. Ball, Office of the Grand Junction Water Works Company; and
17, Garway-road, Westbourne-Grove.
The Shares are £25 each, to be paid by monthly or quarterly subscriptions, and can be
taken up at any time.
Depositing or Investing Members subscribe for Deposit or Investing Shares; and Antici-
pating or Borrowing Members subscribe for Shares anticipated or advanced. The Depositing
Members will be required to pay an Entrance Fee of 2s. 6d. per Share, and a monthly subscrip-
tion of 10s. until the full value of £25 per Share shall be thereby realized. The Anticipating
or Borrowing Members will be required to pay an Entrance Fee of 5s. on each Share antici-
pated, and a monthly subscription in proportion to the term of years, which they may select as
most convenient to themselves for repaying the Shares advanced.
OFFICE-44, REGENT STREET, PICCADILLY.
Daily, from Four to Six o'clock, p.m.
The Society's Meetings are held at No. 32, Sackville-street, Piccadilly, on the First Thursday
in every month, commencing at Seven o'clock, P.M.
ADVERTISEMENTS.
METROPOLITAN INSTITUTE,
FOR THE
PROTECTION OF TRADE,
Established (May, 1849) on a Popular Principle, by which every Member is
entitled to have a vote in the management of the Society.
OFFICES,
4, OLD JEWRY, CHEAPSIDE.
TRADE
PROTECTION
SOCIETIES,
Founded on sound principles, are capable of conferring inestimable benefits upon
the Trading Community, and that chiefly by the activity and zeal of their con-
ductors, and the meritorious purposes to which their objects are directed. To
THE MERCHANT, THE TRADESMAN,
ASSURANCE, LOAN, BUILDING, AND GUARANTEE SOCIETIES,
LANDLORDS OF HOUSES,
And others, a really efficient Trade Protection Society is of incalculable utility.
The benefits to be derived by subscribing to the METROPOLITAN INSTITUTE
are-
1st. The prevention of fraud being practised upon any of the Members. The
making all requisite inquiries concerning the would-be-customer-his references,
and his sureties, for the members, previously to their giving credit.
2nd. The assistance rendered to Members when they have been swindled or
defrauded, by prosecuting at the expense of the Association, at the discretion of
the Committee.
3rd. The safe, efficient, and practicable agency which it presents for the col-
lection of the debts of the members at a very small per-centage.
LIFE, LOAN, BUILDING, AND GUARANTEE SOCIETIES,
Landlords of Houses, and others, will find that the inspection of the Registers of
the Institute is of great utility in preventing fraud being practised upon them,
and that by becoming Subscribers every information concerning borrowers or
tenants, and inquiry into their characters and position by the Society can be
relied on.
Besides Registers of Bankrupts, Insolvents, &c. &c., the Institute has Registers
of Fraudulent Borrowers from the above societies, Defaulting and Bad Tenants,
Fictitious References, &c. &c.
Monthly "Private Journals" are issued to the Members (gratis), containing
the names of the more notorious, and with whom care should be taken in trans-
acting business.
Inquiries are made for Members in any part of the United Kingdom, the
Continent, and America.
The Institute numbers amongst its Members some of the most respectable
Trading Firms, and Life, Building, and other societies in the metropolis and
provinces.
Member's Annual Subscription, One Guinea.
(By order) JAMES HENRY DIXON, Manager.
GEORGE ANDERSON, Secretary.
Prospectuses and further information may be had at the Office, or by forward-
ing a postage-stamp to the Manager or Secretary.
"Through the means of his Trade Protection Society, when a person wants credit, the seller
is enabled to discover who and what his customer is, and whether he may safely trust him or
We may mention among the most active institutions of the kind, the name of the
METROPOLITAN INSTITUTE."-Sunday Times.
not.
Every Tradesman, for his own sake, should join a Trade Protection Society, and we
heartily recommend the METROPOLITAN INSTITUTE to his notice."-Globe, Sept. 11, 1849.
"Trade Protection Circulars are being established all over the Kingdom, and are doing an
immense deal of good."-Times, Sept. 19, 1849.
ADVERTISEMENTS.
TO SOLICITORS AND OTHERS.
In Preparation, and very shortly will be published,
INSTRUCTIONS FOR THE FORMATION
OF
BENEFIT ASSURANCE AND INVESTMENT
SOCIETIES,
[In the various Towns of this Kingdom and the Colonies.]
TO COMBINE THE LEADING ADVANTAGES OF THE NEW ACT FOR
FRIENDLY SOCIETIES AND BENEFIT BUILDING SOCIETIES,
(Pursuant to 13 & 14 Vict. cap. 115, and 6 & 7 Will. IV. cap. 32,)
WITH
RULES, TABLES, FORMS FOR THEIR MANAGEMENT,
AND
AMENDMENTS FOR THE BETTER WORKING OF EXISTING
FRIENDLY SOCIETIES.
BY
ARTHUR SCRATCHLEY, M.A.,
One of the Actuaries authorized, according to Act of Parliament, to certify
Friendly Societies,
AUTHOR OF A TREATISE ON INDUSTRIAL INVESTMENT AND EMIGRATION.
TO ALL INTERESTED IN HOUSE PROPERTY.
THIRD EDITION, MUCH ENLARGED AND IMPROVED,
Foolscap 8vo., price 2s. 6d., or post free, 3s.,
Dedicated by Special Permission to the Rt. Hon. the EARL of Carlisle,
HINTS TO ALL ABOUT TO RENT, BUY, OR
BUILD HOUSE PROPERTY.
BY FRANCIS CROSS, Esq.
ARCHITECT.
The Public are particularly cautioned to copy the title of the above Work, as from its
extensive sale, a spurious imitation is now being published.
66
Every man, or nearly so, is about to rent, buy, or build a house, and in whichever case he
finds himself, Mr. Cross's Hints will be useful to him."-Athenæum.
"It is well written, and of vast use both to landlords and tenants."-Weekly Dispatch.
To be had of T. NELSON, Paternoster-row; SIMPKIN, MARSHALL, & Co., Stationers'-hall-
court; J. K. STARLING, Upper-street, Islington; or direct from the Author, 23, Moorgate-
street, City.
*** Mr. CROSs may be consulted daily between 11 and 4.
ADVERTISEMENTS.
C. W. BLACK,
ADVERTISING AND GENERAL AGENT,
AND
2
AGENT TO THE PROVINCIAL PRESS,
24, ST. SWITHIN'S LANE, CITY,
Respectfully invites the attention of the Promoters and Directors of Assurance Companies,
Authors and Publishers, to the facilities which, by the extensive connection he has formed with
the Provincial Public Press, he peculiarly possesses for DISSEMINATING the PRO-
SPECTUSES and PRINCIPLES of ASSURANCE COMPANIES, and the NOTICES of
all NEW PUBLICATIONS.
THE
REPORTER
WEEKLY LONDON NEWSPAPER,
EDITED BY
JAMES IRVING SCOTT.
PUBLISHING OFFICE-No. 10, BOLT COURT, FLEET STREET, LONDON.
THE REPORTER Weekly London Newspaper, which has for several years received a large
measure of public support, is the only journal which fully reports and offers opinions upon the
proceedings, and promulgates the plans, policy, and status of
All Joint Stock Companies, Provident Institutions, and Benevolent
BANKS,
RAILWAYS,
LIFE AND FIRE ASSURANCE
COMPANIES AND SOCIETIES,
Societies:-namely,
MINES,
Docks,
CANALS,
NAVIGATION,
SHIPPING,
SAVINGS' Banks,
BUILDING Societies,
FREEHOLD LAND SOCIETIES;
Thus affording to the capitalist, the speculator, and the careful invester, seeking a fair profit
for his thrifty accumulations, a safe guide and expositor, and at all times an honest and
straightforward adviser, in consequence of the attention of the Editor and the various con-
tributors being constantly devoted to the operations of all the above-named Companies and
Societies, and from the many peculiar and exclusive sources of information which are open to
them. Ample and original Reports of the Meetings of all the above-named Companies,
prepared by experienced hands, regularly appear in the columns of the REPORTER. Critical
articles on the nature and prospects of all new Public Companies appear in almost every
number. The REPORTER may therefore be said to be
The only Joint Stock Company's and Provident and Benevolent
Societies' Newspaper,
not devoting its attention to a Particular Class of Joint Stock Companies, but to All.
The REPORTER will be found a first-class FAMILY NEWSPAPER. Until the issue of this
Journal, the above great interests, which have to deal with an enormous amount of the wealth
of the country, had no newspaper devoted to their interests, while every religious or political
clique have more than their needful requirement of newspaper organs. Though the editor at
all times puts forth his opinions on the stirring political topics of the day, yet the leading
purpose of the REPORTER, in addition to the above purposes, is to support every plan or
movement which tends to elevate the mass of the people in the social scale, by inculcating
habits of providence and forecast.
ADVERTISEMENTS are inserted at the following rates:-Eight lines, 5s.; every additional
line, 4d. A considerable reduction is made if a series be inserted, or upon lengthy announce-
ments. Advertisers will find the REPORTER an excellent channel for giving the desired
publicity to their announcements, on account of the wealthy and widely spread classes among
whom it circulates.
ASSURANCE COMPANIES, BANKS, RAILWAYS, PROVIDENT SOCIETIES, will find the
columns of the REPORTER of the most valuable nature, from its large circulation amongst
those wealthy and respectable classes who possess the means as well as the inclination to
promote the objects of such institutions.
The Proprietors of the REPORTER confidently assert that all classes of Advertisers will
find its columns of the most valuable nature, from its large, influential, and respectable
circulation.
The REPORTER is issued every Saturday morning, price 6d. ; per Quarter, 6s. 6d.—or 21s. a
year if paid in advance. Post-office Orders to be made payable to the Publisher.
ADVERTISEMENTS.
ASSURANCE WORKS
PUBLISHED BY
W. S. D. PA TEM
PATE MA N,
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LONDON.
INSURANCE OFFICE ACCOUNTS,
Price 3s. 6d.
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On July 1st will be published, price 18. Life Assurance Accounts up to June 30, 1851.
THE POST MAGAZINE,
PUBLISHED EVERY SATURDAY-PRICE ONE PENNY.
For several years past Reports of the Proceedings at General and Special Meetings of Life
Assurance Societies, Inquiry into the principles, and Discussions bearing upon the objects of
these Institutions, have formed a prominent feature in the POST MAGAZINE, which is the only
steady representative and ACCREDITED ORGAN of the ASSURANCE INTEREST.
POST MAGAZINE, VOL. IX., for 1850, handsomely bound, price 6s. 6d. is now ready.
POST MAGAZINE ALMANACK FOR 1851.
COURT AND PARLIAMENTARY REGISTER;
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PROJECTED ASSURANCE ASSOCIATIONS.
The POST MAGAZINE ALMANACK contains the names of the Promoters, and statement of
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date of foundation, day and hour of Board meetings, and principal Officers of every Insurance
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The POST MAGAZINE ALMANACK for 1852 will be published early in December.
Price 10s. 6d.,
ASSURANCE PREMIUMS,
SINGLE AND ANNUAL,
For every value of Annuity on Single or Joint Lives or Survivors, adapted to any Table of
Mortality, at 21, 3, 34, 4, 44, 5, 6, and 7 per cent.
Also, a Table for the formation of Half-yearly and Quarterly Assurance Premiums.
BY WILLIAM ORCHARD, A.I.A.
£. s. d.
THOUGHTS ON LIFE ASSURANCE, by S. Brown, Esq...
ASSURANCE PREMIUMS, by William Orchard
ASSURANCE AND ANNUITY TABLES, Carlisle, 3 per cent.
LIFE ASSURANCE ACCOUNTS
0 10 6
0 10 6
•
0 10 6
0 3 6
RATCLIFF ON MORTALITY OF THE ODD FELLOWS
FIRE AND LIFE ASSURANCE, by Hillman
ON THE LIFE ASSURANCE OFFICES, by George Isobell Soper
POST MAGAZINE ALMANACK
POST MAGAZINE
A DASH INTO SPAIN, by Peregrinus
KENNEDY ON ANNUITIES
STURROCK on MutuAL ASSURANCE
HUTCHINSON ON LIFE ASSURANCE
BAYLIS ON THE ARITHMETIC OF ANNUITIES
NEISON ON VITAL STATISTICS
..
THE LAW OF LIFE AND FIRE INSURANCES, by G. M. Dowdeswell, Esq.
THE LAW OF Fire and LIFE INSURANCE, by G. D. P. Beaumont, Esq.
OBSERVATIONS ON THE QUESTIONS RELATING TO THE ORDER OF ODD FEL-
Lows, by F. G. R. Neison, Esq., F.L.S.
..
0
5 6
5 6
0
0 6
0 1 0
0
0 1
•
OTHER PUBLICATIONS.
PUBLIC
0
3 0
0 10 6
0 1 6
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0 7 6
1 1 0
0 6 6
0 5 6
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TABLES AND FORMULE FOR THE COMPUTATION OF LIFE CONTINGENCIES, by
Peter Gray, Esq., F.R.A.S.
0 16 6
Any of the above Publications will be sent Post-free, on receipt of a Post-office order
payable to
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A FEW THOUGHTS ON COMMISSION, DIVISIONS OF PROFIT,
SELECTION OF LIVES, MORTALITY IN INDIA,
AND OTHER SUBJECTS RELATING TO
LIFE ASSURANCE,
BY SAMUEL BROWN, F.I.A.
NOTE BY THE Publisher.-A detailed statement of the contents of this important work
was given in last year's PosT MAGAZINE ALMANACK; to which was appended a list of the
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LONDON: PUBLISHED BY W. S. D. PATEMAN,
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NOW READY (SECOND EDITION), PRICE 2s. 6d.
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AND
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ILLUSTRATIVE OF THEIR
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Amongst the principal writers who contributed to the POLITICAL INSTRUCTOR, may be
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FIFTH YEAR OF PUBLICATION.
WILSONS'
UTILITARIAN SERIES OF
DIARIES,
ADAPTED TO ASSURANCE AND OTHER COMPANIES, PUBLIC
OFFICES, MERCANTILE FIRMS, AND FOR PRIVATE USE,
WITH
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Are now in course of Printing, on Improved Plans, in a variety of sizes, adapted
for all classes.
Prices from Sixpence to Fifteen Shillings each.
Assurance Companies and others wishing to Advertise in the Diaries, in order
to secure insertion, are requested to make immediate application to
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*** The Diaries and Almanacks for 1852 will be ready early in December.
TO ASSURANCE COMPANIES, BANKERS, MERCHANTS, BUILDING SOCIETIES,
CHARITABLE AND SCIENTIFIC INSTITUTIONS, AND THE
PUBLIC GENERALLY.
THOMAS WILSON & SONS
Draw attention to their LARGE STOCK OF ACCOUNT BOOKS, manu-
factured upon Improved Principles, in EVERY VARIETY OF SIZES,
BINDINGS, RULING, &c.
They also keep a very extensive and well-selected STOCK OF WRITING
AND PRINTING PAPERS, wholesale and retail.
Their PRINTING ESTABLISHMENT, worked by STEAM POWER,
enables them to execute orders of the largest magnitude in every department of
the business, with great punctuality, and at the lowest price.
THOMAS WILSON & SONS,
WHOLESALE STATIONERS,
ACCOUNT BOOK MANUFACTURERS,
PRINTERS, AND
BOOKBINDERS,
103 & 104, Cheapside.
ADVERTISEMENTS.
TO PUBLIC COMPANIES, PRIVATE PURCHASERS, AND FOR EXPORTATION.
No. 23, MOORGATE-STREET, BANK.
JOHN B. CROSS,
(LATE OF 41, CHARTER-HOUSE SQUARE, and 70, cORNHILL),
CHRONOMETER, WATCH, AND CLOCK MANUFACTURER,
AND
IMPORTER OF CLOCKS AND WATCHES FROM PARIS AND GENEVA,
Respectfully invites attention to his Stock of the above Articles, which will be found to
combine Superior Quality and Elegance of Design with most moderate prices.
Every Article is Warranted, and all English Goods Manufactured on the Premises.
Silver Watches, in Strong Double Back and Engine-turned-Cases, at £3 3 0
Ditto, Improved Patent Levers
Horizontal Watches in Silver Cases
Ditto, in Gold Cases
Ditto, in Gold Cases
•
4 14 6
""
10 10 0
""
3 3 0
""
8 8 0
""
First Class Watches with Compensating Power, adapted for the East and West Indies and the
Colonies, upon the same moderate scale of prices, and kept ready for use.
OFFICE CLOCKS.
Eight Day Dials for Public Offices
Board-room Clocks, with Brackets, complete
MARINE CHRONOMETERS
from 6 6 0
10 10 0
Of the most New and Perfect Construction, with every intrinsic excellence, considerably below
the prices usually charged, some of which are kept ready for sea.
SILVER GOODS IN EVERY BRANCH,
AND
The Best Sheffield Plated Ware & Cutlery supplied for the Home & Foreign Trade.
ALSO EVERY ARTICLE IN JEWELLERY OF THE BEST LONDON MANUFActure.
REPAIRS done on the Premises by competent workmen in every department enumerated above.
CONTRACTS for Winding and Regulating Clocks, and keeping in
Repair by the year.
Old Gold, Silver, Diamonds, and other precious stones, Purchased or taken in Exchange.
No. 23, MOORGATE-STREET,
NEAR THE BANK OF ENGLAND.
TO ASSURANCE AND OTHER PUBLIC COMPANIES, PERSONS BUILDING THEIR
OWN RESIDENCES, AND THE PUBLIC GENERALLY.
J. SYMONDS,
FURNISHING IRONMONGER, GAS-FITTER, BELL-HANGER,
AND STOVE-GRATE MANUFACTURER,
The "Padlock,"
82, GOSWELL-ROAD, NEAR THE ANGEL, ISLINGTON,
Respectfully invites the attention of the Directors of Fire and Life Assurance and other Com-
panies, and the Public generally, to his large and well-selected stock of Ironmongery, including
Stoves of every description, Gas-fittings, Office, Board-room, and Table Lamps, and every
Article connected with Building, on the most advantageous terms.
ESTIMATES FOR THE
Entire Fittings of Companies' Offices, Private Houses,
Trade Premises, &c.
82, GOSWELL-ROAD, LONDON.
ADVERTISEMENTS.
JOHN TEULON,
LETTER-PRESS AND LITHOGRAPHIC PRINTER,
STEEL AND COPPER-PLATE ENGRAVER, &c.
57, CHEAPSIDE, LONDON,
Respectfully invites the Directors of Assurance and other Companies to the
facilities which his establishment affords, under his own personal superintendence,
for the prompt and perfect execution of all Plain and Ornamental Printing and
Engraving necessary to the business of Public Offices, which, by his extensive
connection with various Companies, he is able to do upon moderate terms.
PRINTING OFFICE, 57, CHEAPSIDE.
Policy and other Official Forms kept standing.
TO PROMOTERS AND DIRECTORS OF ASSURANCE AND
OTHER COMPANIES.
JOHN CLARKE,
BUILDER, HOUSE DECORATOR, AND PLUMBER,
156, HIGH HOLBORN, LONDON,
Respectfully tenders his acknowledgments to the public for the patronage already
conferred upon him, and invites the attention of the Promoters and Directors of
Public Companies to the fact of his being enabled to undertake, upon moderate
terms, by contract or otherwise, the REPAIRS, ALTERATIONS, DECORATIONS,
and COMPLETE INTERIOR FITTINGS of Offices, Business Premises, and Private
Residences.
WATER-CLOSETS, FORCE-PUMPS, and GAS-FITTINGS, upon the most
approved principles.
W. P. METCHIM,
LAW AND GENERAL STATIONER,
ACCOUNT BOOK MANUFACTURER, AND LITHOGRAPHER,
20, PARLIAMENT STREET, WESTMINSTER, LONDON.
Engraving, Copper-plate and Letter-press Printing.
Engraved and Lithographic Share Certificates and other Forms for Assurance
Companies.
BOOKBINDING ON THE PREMISES,

ANCHOR ASSURANCE SINE
ET
COMPANY
TUTO
METU.
& ANNUITIES,
LIFE, FIRE
67, CHEAPSIDE,
LONDON.
INCORPORATED BY ACT OF PARLIAMENT.
CAPITAL, ONE MILLION.
DIRECTORS.
HENRY TINDAL ATKINSON, Esq., Chigwell, Essex.
JAMES BREMRIDGE, Esq., Westbourne Street, Hyde Park Gardens.
THOMAS MORTIMER CLEOBUREY, Esq., Askew Villa, Shepherd's Bush,
NATHANIEL CUMBERLEGE, Esq., York Terrace, Regent's Park.
WILLIAM C. CURTEIS, Esq., LL. D., Montague Street, Russell Square.
JOHN ROBERT DALBY, Esq., Camden Road Villas, Regent's Park.
REV. HENRY TURTON, A.M., Betley, Staffordshire.
JOHN WERTHEIMER, Esq., Guilford Street, Russell Square.
THOMAS WILSON, Esq., York Terrace, Queen's Road, Peckham, Surrey,
REV. J. WRIGHT, A.M., F.R.S., Great Malvern, Worcestershire.
Auditors.
PETER EDWARD, Esq.
WALTER HILL, Esq.
Secretary and Actuary.
THOMAS BELL, Esq., F. I. A.
Professional Accountant.
W. GOODCHAP, Esq.
Physician.
HENRY OLDHAM, Esq., M.D.
Bankers.
MESSRS. CHARLES HOPKINSON, & Co.
MANCHESTER.
Board of Management.
WILLIAM GIBB, Esq. (Director of the Bonded Warehouse Company.)
JOHN HUNTER, Esq. (Messrs. BINYONS and HUNTER.)
JAMES NICHOLSON, Esq. (Messrs. THOS. HOLDSWORTH and Co.)
LIGHTLY SIMPSON, Esq., Flixton, near Manchester.
SOLICITOR, MR. EDWARD BENNETT, Princess Street.
Branch Office.— Ducie Place.
AGENTS.-MR. S. RILEY, Ducie Place, AND MR. CHARLES MEREDITH, King St.
HULL.
Board of Management.
J. S. THOMSON, Esq., Merchant.
P. TIGAR, Esq., Mayor of Beverley.
W. CLIFFORD, Esq.
B. A. TAPP, Esq.
SOLICITOR.-C. S. TODD, Esq.,
Branch Office.-Exchange Buildings.
AGENTS.— MR. E. L. FERRABY, AND MR. W. LAWTON.

LIFE DEPARTMENT.
THE Business of this Office embraces every mode of Life Assurance,
and the Rates of Premium will be found essentially moderate.
LIVES DISEASED, or having a tendency to disease, may be assured
with this Office on payment of a proportionate extra Premium,
which the Office will reduce or cancel on the restoration of the party
to health.
Policies effected or assigned in security for CASH ADVANCES, are
not necessarily voided should the Life Assured incur a FOREIGN
CLIMATE RISK without the knowledge of the Policy Holder, or a
special licence from the Board of Directors.
ONE-HALF ONLY OF THE ANNUAL PREMIUM may be paid during the
first five years of Whole Life Policies, the other moiety of the pre-
mium remaining a debt on the Assurance.
To Policies effected in the Mutual Assurance Branch, a Bonus of
THIRTY-TWO PER CENT. on the Premiums which had then been paid
was declared on 30th September, 1849, for the seven years preceding;
and similar additions will be subsequently apportioned to all Policies
effected with a right to participation in profits. A Policy becoming
a claim betwixt two periods of division is entitled to share in profits
according to the preceding participation, and the number of years
since then elapsed.
MUTUAL ASSURANCE BRANCH.
Examples of Bonus Additions to Sums Assured, at the first Septennial Division of
Profits in 1849.
Age at
Entry.
Existence of Sum
Policy. Insured.
Bonus
Addition.
Age at
Entry.
Existence of Sum
Policy. Insured.
Bonus
Addition.
£
£ s. d.
£
£ s. d.
24
7 Years.
1000
61 8 9
35
7 Years.
1000
58 14 4
26
1000
50 17 7
45
1000
101 8 9
""
29
28
1000
53 2 4
45
1000
པ
79 0 9
""
""
30
1000
55 13 7
48
1000
92 16 0
""
""
31
1000
56 19 2
51
1000
""
138 1 7
33
1000
79 0 9
56
1000
133 8 9
""
ANNUITIES, IMMEDIATE AND DEFERRED,
ARE GRANTED BY THIS COMPANY ON TERMS EXCEEDINGLY FAVORABLE
TO THE ASSURED.
FIRE DEPARTMENT.
This Company insures almost every description of property. All
risks to which more than usual hazard attaches, are rated at the
lowest Premium which the nature or position of the property to be
insured will justify.
The usual Commission is allowed to Solicitors.
Prospectuses and all relative information may be obtained at the
London Offices, or from any of the Agents of the Company in the
principal Towns of the Kingdom.
T. BELL, SECRETARY & ACTUARY.

MUTUAL ASSURANCE BRANCH.
Premiums for the Assurance of £100 with additions from Profits.
Age.
Whole of
Life.
Age.
Whole of
Life.
Age.
Whole of
Life.
Age.
Whole of
Life.
Age.
Whole of
Life.
£ s. d.
£ s. d.
£ s. d.
£ s. d.
£ s. d.
16
1 13 8
25
2 2 3
34
2 13 9
43
3 10 9
52
4 18 7
17
1 14 7
26
2 3 3
35
2 15 5
44
3 12 4
53
5 3 2
18
1 15 5
27
2 4 11
36
2 17 5
45
3 15 2
54
5 8 8 0
19
1 16 10
28
2 5 11
37
2 18 10
46
3 18 10
55
5 13 5
20
1 17 2
29
2 7 4
38
3 0 10
47
4 0 4
56
5 18 11
21
1 18 1
30
2 8 11
39
3 2 10
48
4 3 5
57
6 5 2
22
1 19 0
31
2 10 5
40
3 4 11
49
4 6
7
58
6 11
7
23
2 0 1
32
2 11 1
41
368
50
4 10 6
59
618
6 18 1
24
2 1 1
33
2 12 5
42
3 8 3
51
4 14 4
60
7 4 4

ASSURANCE OF SPECIFIC SUMS.
Premiums for the Assurance of £100 without additions from Profits.
Age.
Whole of
Life.
One
Year.
Seven
Years.
Age.
Whole of One
Life.
Year.
Seven
Years.
Age.
Whole of
Life.
One
Year.
Seven
Years.
£ s. d.
£ s. d.
£ s. d.
£ s. d.
£ s. d.
£ s. d.
£ s. d.
£ s. d.
£ s. d.
16 1 9 8
17 1 10 6
18 1 11 2
19 1 11 11
20 1 12 8
0 14
3
0 16
0
31
2 4 0
1
1 11
1 4 4
46
3 9
5
1 13
9
1 19 1
0 14
7
0 16 3
32
2
2 5
0
1
3 0
1
5 0
4 7 3 10
9
1 14
0
1 19 11
0 15 4
0 16 8
33
2 6
2
1
3 11
1
5 10
48 3 13
5
1 14
6
2 0
09
0 15 7
0 17 1
34
2 7 7
5
1
4 10
1
6 9
49
3 16
3
1 15
1
2 1 3
0 16 1
0 17 6
35
2 8 8
9
1
5 6
1
7 9
50
3 19
8
1 15 9
2
2 3
~ 2
21 1 13
7
0 16
7
0 17 11
36
2 10 9
1
6 3
1
8 11
51
4 3 1
1 16 7
2
3 7
22 1 14
5
0 17
0
0 18 3
37
2 11
2 11
9
Ι
1
6 11
1 10
0
52
4 6 10
1 18
1
2 4
4 9
23 1 15 4
0 17
7
0 18
8
38
2 13
7
I
7 10
1 11 4
53
4 10 10
20 5
2 7 3
24 1 16
25 1 17 3
26 1 18 2
3
0 18 1
0 19 1
39
2 15
4
1
8 7
1 12 7
0 18 6
0 19
7
40 2 17 2
1 9
9
5
1 13 11
54 4 15
55
2
2 2 11
2 13 0
4 19 10
2
4 7
2 19 9
0 18
9
1 0 1
41 2 18
8
1 10 3
1 15 1
56 5 4
4
8
2 7 4
3 6 11
27 1 19
1 19 7
0 19
1
1
1 8
42 3 0
6
1 11
Сл
5
1 16 0
57 5 10
2
2 12 6
3 13 10
28 2 2 0 5
0 19 6
1
2 3
43 3 2 3
1 12 4
1 16 10
58 5 15 10
2 19 11
4 0 8
29 2 1 9
30 2 2 11 1 1 1
1 0
2
1
2 11
44 3 3 9
1 3 8
45 3 6 2
1 13 0
1 13 6
1 17 7
1 18 2
59 6 1
60 6 7
7
3610
4
8 10
1
3 15 0 4 12

IMMEDIATE ANNUITIES.
Annuity granted for every £100 deposited.
Age last
Birthday
Yearly
Annuity.
Age last
Birthday
Yearly
Annuity.
Annuity.
Age last
Birthday
Birthday
Yearly
Annuity.
Age last
Birthday
Yearly
Annuity.
Age last Yearly
Birthd. Annuity.
£ S.
d.
£ s. d.
£ s. d.
£ s. d.
£ s. d.
31
5 14 4
41
6 8 0
51
7 12 1
61
10 3 6
32
5 15 5
42
699
52
7 16 2
62
10 9 11
22
71
14 19 8
72 15 15 7
33
5 16 6
43
6 11 6
53
8 0 3
63
10 16 4
73
16 11 6
34
5 17 7
44
6 13 3
54
8 4 4
64
11 2 9
74
17 7 5
35
5 18 8
45
6 15 0
55
8 8 6
65
11 9 2
75
18 3 5
36
6 0 0 2
46
6 17 7
56
8 14 2
66
12 0 1
76
18 19 5
37
6 1 8
47
7 0.2
57
8 19 10
67
12 11
0
77
19 16 6
38
6 3 2
48
7 2 9
58
9 5 7
68
13 1 11
78 20 12 7
39
6 4 9
49
7 5 4
59
9 11 4
69
13 12 10
79
40
6 6 4
50
7 8 0
60
9 17 1
70
14 3 9
888
21
80
8 8
22 4 9
The Rates of Annuity in this Table are those usually adhered to, but it will be proper that intending
Purchasers make special enquiry at the Chief Office, or through the Agency.

GRESHAM LIFE ASSURANCE FOR
་་
SOCIETY
Ordinary and
Declined Lives.
Incorporated pursuant to
Stat. 7 & 8 Vict., Cap. 110.
DIRECTORS.
WILLIAM TABOR, Esq., CHAIRMAN.
JOHN BEADNELL, JUN., ESQ., DEPUTY CHAIRMAN.
JOHN BRITTEN, Esq.
FREDERICK A. DAVISS, Esq.
JAMES LYNE HANCOCK, Esq.
ALFRED SMEE, F.R.S.
EDWARD SOLLY, F.R.S.
WILLIAM H. THORNTHWAITE, Esq.
GEORGE TYLER, Esq.
JOSEPH WILLIAMS, Esq.
TRUSTEES.
MATTHEW MARSHALL, Esq., Bank of England.
STEPHEN OLDING, Esq., Lombard Street.
WILLIAM SMEE, ESQ., Bank of England.
AUDITORS.
PROFESSOR DAVIES, F.R.S.
GEORGE H. LADBURY, Esq.
GEORGE LOWE, F.R.S.
THOMAS PERRY, Esq.
BANKERS.
MESSRS. ROGERS, OLDING, SHARPE & CO., Clement's Lane, Lombard Street.
STANDING COUNSEL.
S. MARTIN, Esq., Q.C., M.P.
1
W. C. FOOKS, Esq.
MEDICAL REFEREE.
ALFRED SMEE, F.R.S., Surgeon to the Bank of England, Lecturer on Surgery.
SOLICITOR.
T. H. DEVONSHIRE, Esq., 29, Austin Friars.
SECRETARY.
T. A. POTT, Esq.
OFFICES.
No. 37, OLD JEWRY, LONDON.

2
GRESHAM LIFE ASSURANCE SOCIETY.
The GRESHAM will be found a peculiarly eligible Office for
every description of Life Assurance, both on account of the
extensive range of business undertaken, and the advantages
offered to those Assuring with the Society.
Upwards of Two Thousand Proposals for Assurance were received
in the two years ending July, 1850, amounting in the aggregate
to nearly a Million Sterling;
And the Directors were enabled to carry upwards of Ten
Thousand Pounds to the Society's Rest during the Second Year
alone, chiefly from the Premiums taken during that year.
VIDE THE FIRST ANNUAL REPORT, AT PAGE 12.
AND THE SECOND ANNUAL REPORT, AT PAGE 22.
GENERAL SUMMARY OF BUSINESS UNDERTAKEN.
THIS SOCIETY UNDERTAKES, IN ADDITION TO ALL THE ORDINARY BRANCHES
OF LIFE ASSURANCE:-
The Assurance of Lives, which although not “diseased," nor having a strong
tendency thereto, have been declined by other Offices.
The granting of Endowments; also Annuities, Immediate, Deferred, and
Survivorship.
Advances by way of Loan on Policies effected for the whole period of life,
when such Policies shall have acquired a value.
The advance of Loans upon Freehold, Copyhold, and Leasehold Property.
The advance of Loans on liberal terms upon approved Personal Security, in
connection with Life Assurances effected with the Society.
ADVANTAGES.
Perfect Security is guaranteed by an ample Paid-up Capital subscribed by
persons of the highest character and respectability.
The Policies are Indisputable, unless procured by fraud; and claims are
promptly and liberally settled.
The most liberal accommodation in the mode of effecting Assurances, in the
payment of premiums, in reviving lapsed policies, and in registering the transfer
of Policies.
#
Assurances may be effected without loss of time, the Directors, together with
the Medical Officer, being in attendance at the Office every day, at Eleven
o'Clock.
The Lowest Rates of Premium consistent with security to the Society and the
Assured.
Great facilities to parties wishing to reside in, or proceed to Foreign
Countries.
The Funds of the Society are invested in the most advantageous manner, so
as to promote security, and to afford the largest possible Bonus to the Assured
at the periodical divisions.
The Management of the Society is conducted in the most economical manner,
as is shewn by the Annual Reports.

GRESHAM LIFE ASSURANCE SOCIETY.
3
PROSPECTUS,
It is considered unnecessary at the present day, to enlarge upon the practical utility
and importance of Life Assurance, as the value of the system is daily becoming well
understood and appreciated, especially by a large class of persons whose incomes
cease with their lives; and who, by effecting a Policy to an adequate amount, may
secure for their dependent families that provision which the most untiring industry
coupled with the most rigid frugality could not otherwise accomplish. There is,
however, a very numerous class of individuals who are not only convinced of the
advantages to be derived from Life Assurance, but who have actually made
endeavours to participate in those advantages, and have failed to attain their object
by reason of their having been rejected or "DECLINED" by the Office to which they
have applied. It is well known in the Assurance World, and must be keenly felt by
many so rejected, that their lives are by no means uninsurable, although possibly not
quite equal to the average of the class intended to be assured at the ordinary rates,
while at the same time they are not so much below that average as to render them
fairly chargeable with rates adapted to lives positively diseased or having a strong
apparent tendency to disease. Although the principal portion of this Society's
Policies are upon first class lives; its peculiar feature consists in the assurance, at
equitable rates, of the lives of individuals of regular and temperate habits, whose Pro-
posals for Assurance have been declined by other Offices. The necessity for an Office
undertaking assurances of this kind is manifest. The experience of the best informed
and most intelligent Actuaries, establishes, that a considerable proportion of the
lives thus declined are not unsound, but are rejected very frequently because they
are supposed to be a trifle below the average. In such cases, the party proposing
to be assured becomes one of the "Declined" Lives; and if he still seeks the benefit
of Life Assurance, is generally compelled to resort to Offices which insure diseased
lives at rates of premium not at all adapted to his particular case.
It will be observed, that this Society does not undertake to insure the lives of
persons of intemperate and irregular habits, or of confirmed invalids, or diseased
persons, or those having a strong tendency to disease; the Society will consequently
accept such only of them, as the Board of Directors, aided by their Medical Officer,
shall consider as coming within a class the risk upon which would be covered by a
moderate extra rate of premium.
In order, however, that such extra rate may not be a permanent charge, lives so
assured, may, from time to time, at intervals of not less than one year, require a
re-examination by the Medical Officer of the Society, with a view to ascertain
whether the causes which originally justified the charge of an increased Premium,
be still existing, or have become removed; in which latter case, the Directors upon
being satisfied of the fact, will thenceforth reduce the premium to the tabular
charge.
A separate account is kept of this class of Assurances, and an allowance, or Bonus
equal to Eighty per cent of the divisible profits arising from this branch of the business,
will be appropriated amongst the assured by way of reduction of future Premiums.
To illustrate a few of the instances in which Life Assurance may
be rendered beneficial, the following examples are given:-
A person aged (say) 30, may secure £500, to be paid to his surviving family (or
to any nominee whom he so wishes to benefit) in the event of his death, by
the payment of £2 16s. 3d. per quarter; £5 10s. half-yearly; £10 14s. 7d.
per annum.

4
GRESHAM LIFE ASSURANCE SOCIETY.
A
person of the same age (30) may secure £1000 in like manner, by the payment
(on the half-credit system), for the first seven years, of £12 1s. 3d. per annum.
Persons, by a quarterly, half-yearly, or annual payment, at an equally moderate
rate, may secure a sum of money (in proportion to the premium) in either of
the following cases, namely;-
In the earlier period of life, parties may secure a sum of money payable to them
selves at a more advanced age (say 50, 55, or 60) so as to enable them to retire
from active life, at a period when such retirement must be most desirable.
A party entitled to a sum of money, or other reversionary property, provided he
survive another, may, by effecting a Policy of Assurance, secure his family
against the loss which would otherwise ensue should his death occur before
that of the party then in possession.
Occupiers of property held under Leases determinable either by effluxion of time,
or on death, but renewable on payment of a fine; may, by effecting a Policy to
an equivalent amount, receivable at the same period as the fine would become
due, secure to themselves or their families the means of paying such fine.
A person possessing only an Annuity ceasing at his death, may, by setting apart
a small portion of his income, secure to his surviving relatives or dependents,
a future provision.
Partners, through the medium of Life Assurance, may secure the firm against
financial embarrassment, consequent on a sudden withdrawal by the Executors
of a deceased partner, of such portion of the capital as may have been con-
tributed by him.
Various pecuniary arrangements in connection with Marriage Settlements, may be
safely and advantageously carried out by means of Life Assurance; where it
would be competent for the Trustees to allow the husband the use of some
portion of the Trust funds for business capital, or otherwise, during his
life, without prejudicing or endangering the interests of his children who
might be entitled to the funds after his decease.
A Creditor may secure eventual payment from his Debtor.
A Debtor may
secure eventual payment to his Creditor. A young man desirous of com-
mencing business, may, in connection with a Policy of Assurance, obtain the
means of doing so. Many Mercantile and other transactions may be facilitated
by means of Assurances effected for short periods, adapted to the peculiar
nature of such cases.
The Constitution of this Society is that which experience has shown to be the
most conducive to the interests of all parties; for whilst it offers to the Assured
every possible advantage in respect to Rates of Premium, Bonus, Transfers, etc., it
secures them also from liability. This Society is founded upon the mixed Mutual
and Proprietary principle, with a very liberal Bonus to those who elect to assure
on the participating scale; such Bonus (except as to declined lives) to be applied
either as a payment in cash, or in reduction of future premiums, or as an addition
to the sum assured. This system has also the advantage of giving to the Society the
Command of Capital, which is so invested as materially to promote the interests of
Policy Holders.
Holders of Whole Life Policies for £100 and upwards on the participating scale, are
entitled to attend the Annual General Meetings and vote in the election of Auditors.

GRESHAM LIFE ASSURANCE SOCIETY.
5
The Rates of Premium have been calculated expressly for this Society, from data
afforded by the experience of established Offices, and will be found as liberal as is
consistent with perfect safety to the Society and the Assured.
Claims upon Policies will be paid three months after satisfactory proof of death.
The Society undertakes every kind of Assurance dependent on
the practical contingencies of Human Life, and all other business
usually connected therewith, including the Granting and Purchase
of Annuities, Reversions, etc. etc.
The following will exhibit some of the various modes in which
Assurances may be effected with this Corporation.
1st. Assurances on Single, Joint, and Survivorship Lives, from £50 to £5000,
for the whole of Life and for short periods.
2nd. Whole Life Assurances (of £300 and upwards) on the participating scales,
may be effected by the payment of half-premiums only, for the first seven
years, simple interest being paid on the remainder, which may be allowed
to accumulate and be paid off at the end of that period, or continue as a
charge upon the sum assured and be deducted therefrom on the Policy
becoming a claim. Of this mode of effecting an Assurance the following
example will afford an illustration. A person aged (say) 30, assures for
£1000 (with Bonus) to be paid at his decease, the full premium for which is
£24 2s. 6d. on this system, however, he only pays half that premium,
or £12 1s. 3d. per annum for the first seven years, which sum is about the
premium he would have to pay on an ordinary Assurance for £500; con-
sequently, if he die within the seven years, his survivors will be entitled to
very nearly double the amount, or £1000 instead of £500.
3rd. Endowment Assurances may be effected, by which any fixed amount may be
secured, to be paid to the Assured on his attaining a specified age, or to his
representatives in the event of his death occurring before he shall attain that
age. Thus, a Person aged 30, wishes to assure the sum of £500 to be paid him
on his attaining the age of 60; if he survive that age he has the whole benefit
of the Assurance himself; if he die before attaining such age, it will be paid
to his representatives. By this mode of Assurance therefore (the most valuable
in the whole scheme of Life Assurance) A DOUBLE OBJECT IS SECURED, AND
A DOUBLE CONTINGENCY PROVIDED AGAINST; viz., if the Assured live, he
receives the reward of his prudence and foresight; and if he dies, his repre-
sentatives are benefited to the same extent, and this with but a trifling increase
of premium.
Assurances may also be effected with this Society by persons of both sexes and
of all ages, professions and classes, either by a single payment, by a stipulated number
of payments, or during life, by annual, half-yearly, or quarterly premiums, and in
every variety and mode, to suit the convenience of all parties, cases and conditions.
Considerable care is taken to learn all the facts before an Assurance is granted, so
that by having exact information the Medical Examiner is frequently enabled to
advise the acceptance of lives at the ordinary rates, which would in many other
For the "Declined"
Societies be declined altogether, or charged a very high rate.
Lives' branch the Society possesses important and exclusive information to guide the
Directors in a judicious decision.

6
GRESHAM LIFE ASSURANCE SOCIETY.
Whole Life Policies of £100 and upwards, may be effected on the Participating
scale, by which the holder thereof will be entitled periodically to a Bonus, equivalent
to eighty per cent. of the net profits arising from assurances on that scale; or
Assurances may be taken out at a lower rate of premium, for a fixed sum only.
The primary division of profits will be made at the end of the first seven
years, and thereafter every five years, when a proportionate bonus will be appro-
priated to all Policies entitled to participate therein.
Thirty days are allowed for payment of Premiums, when such are made Annually;
Fourteen days for Half-yearly, and Seven days for Quarterly Premiums.
Lapsed Policies may be revived within six months after the time fixed for
renewal thereof, on payment of a fee of ten shillings per cent. on the sum assured,
and interest on the Premium in default; provided the Directors be satisfied of the
then state of health of the Assured.
Policies of twelve months' standing, on the lives of persons committing Suicide,
or dying by the hands of Justice or by Duelling, will not become void, if
previously transferred to a third party for a valuable consideration, provided due
notice of such transfer shall have been given to the Office; in which case the
claim of the transferee will be admitted to the extent of his interest in the amount
assured, on the same being satisfactorily proved to the Directors; and where Policies
remain in the possession of the Assured Party, the Directors will allow for the benefit
of his family such sum of money as they may think reasonable, not exceeding the
amount the Society would have paid for the purchase of his interest in such Assu-
rance on the day previous to his death.
The Society will keep a Register of notices of Assignments and Transfers of
Policies, which Register will be open free of expense to all parties interested.
Every facility will be afforded to those Assured in this Office, who may wish to
reside in or proceed to Foreign Countries.
The Society will grant Loans upon the Security of Policies effected with it,
according to the value at the time of the Loan; also on freehold, copyhold, or lease-
hold Property (in connection with Assurances to be effected with the Society), on
Life Interests, Reversions, and every other available Security.
Advances are made on Personal Security, conditionally on two or more respectable
and responsible persons becoming security for the borrower; repayments are required
to be made in one, two, or three years, by quarterly instalments; and conditionally,
also, where the Borrower or other persons effect Assurances with the Society to an
agreed amount. A preference, however, will be given where a portion of the amount
required to be assured is effected on the life or lives of one or more of the Sureties.
The Board of Directors meets every Thursday at half-past Twelve
o'clock.
Prospectuses, Annual Reports, Forms of Proposal, and every in-
formation, may be obtained of the Secretary, at the Society's Offices,
No. 37, OLD JEWRY, LONDON; or of any of the Society's Agents
throughout the United Kingdom.
THOMAS ALFRED POTT, SECRETARY.
N.B. Active and influential persons will be appointed as Agents in
Districts where the Society is not already represented, to whom a liberal
Commission will be allowed.

EXAMPLES OF THE TABLES OF RATES,
CALCULATED EXPRESSLY FOR THIS OFFice.
TABLE A. WHOLE LIFE.
3
WITHOUT PROFITS.
Premiums for the Assurance of £100.
Age
next
Age
Annual
Birth- Premium.
Half-
Yearly
Premium.
Quarterly next
Premium.
day.
Annual
Birth- Premium.
day.
Half-
Yearly
Premium.
Quarterly
Premium.
£ S. d.
S.
14
1
10 0
0
15 5
or a
d. £
S.
d.
£
0 7 11
43
44
43 ∞ ∞
S.
d.
£
S.
d.
£ S.
d.
3
3 11
1
12 9
0
16 9
3
6 3
1
13 11
0
17
LO
5
15
1 10 7
0
15 8 0
8 0
16
1
11 3
0
16 0
0
17
1
11 10
0
16 4 0
18
1
12 6
0
16 8 0
∞ ∞ ∞
8 2
45
8
4
46
8 6 47
co co co
3 8 9
1
15 3
0
18 0
3
11 4
1
16 7
0
18 9
3
14 1
1
18 0
0
19 6
19
1
13
13 2
0
17
0
0
8 9
48
3 17 0
1
19
6
1
0 3
49
4
0 2
2
1 3
1
1 0.
20
1
13 10
0
17 4
0
8 11
21
1
14 7
0
17 9
0
9 1
50
4
2 5
2
2 91
1 11
22
1
15 4
0 18 1
0 9
3
51
4
6 11
2
4 6
1
2 10
23
1 16
20 18
609
6
52
4
10 7
2
6
5
1
3 10
24
1 17 0
0
19 0 0 9 9
53
4 14 6
2
8 5
1
4 10
54
4 18 8
2 10 7
1
5 11
25
1 17 11
0
19 3
0
9 11
26
1 18 10
0
19 11 0
10 2
55
27
1
19 7
1
0
4
0
10 5 56
40 40
5 3 0
5
7 8
N N
2
12 10
1
7 0
2
15 2
1
8 3
88888
28
29
2 2
0 10 I
0 11 0
10 9
57
5
12 8
2 17
17 9
1
97
1 10
1 I 5 0
11
0
58
5
17 11 3
0 5
1
10 11
59
6 3 6
3 3 3
1
12 5
= 2
2 2 2 2 N
2 2 2 N N
2
30
31
32
33
2 2 11
4 1 1
5 3
2 6 7
2
34
35
36
37
7 11
9 4
2 10 10
2
38
39
1
2 2
2 0
0 11 3
7 0 11
7
60
6
9
LO
5
1
3 3
0 11 11
61
6
15 10
∞ co
3
6 4 1 14 0
3 9 7
1
15 8
1
3 11 0 12 3
62
7
2
7
3
13 1 1 17 5
1
4 7
10 12
7
63
7
9
9
3
16 9
1
19
4
64
7 17 5 4
0 82
1 4
1
5 3 0 12 11
1
6 0
0
13
4
65
8
5 7
4
4 10
2
12 4
1
6 10
0 13
9
66
8
4
14 3
14
0
1
7 4 0 14
2
67
9
3 6
4
9 4
14 0
2
COLO
3
6
5 9
2 8 2
15 9
1 8 7
0
14
8
68
9
13 4
19
4
1
2
10 9
69
10
3 10
5
4 6
2 13
13 6
40
41
IN NO
2 17 7 1
9 6 0 15
1
2
19 7
1
10 6 0 15
8
70
10 15
15 0
5
10 2
2 16 5
42 3 1 8
1
11 7 0 16
2

TABLE B. WHOLE LIFE.
WITH PROFITS.
Premiums for the Assurance
the Assurance of £100.
Age
next
Birth- Premium.
Annual
Half-
Yearly
Premium.
Quarterly
Premium.
day.
Age
next Annual
Birth- Premium.
day.
Half-
Yearly
Premium.
Quarterly
Premium.
£ s.
d.
£ s. d.
£
s. d.
£ s.
d.
£ s. d.
£ s. d.
14
16
17
18
19
20
21
23
24
25
27
28
29
30
31
32
* BOERA 222** ***** *** 2008 GER
1 14 8
0 17
9
0
9
9 1
43
44
1 15 3
0 18
1 15 11
0 18
1 16 6
0 18
1 17 3
0 19
1 17 11
0 19
1 18 8
0 19 10
1 19 5
1 0 2
2 0 3
1 0
2 1 1
1 1
2
2 0
1 1
2 2 11
1
2
20
2 3 11
1 2
2 4 11
2 6 0
1 3
1 3
2 7 1
1 4
2
8
8
2
9
2 10
2 12 0
34
2 13 5
CO LO ∞ OL
3
1 4 9
5
1 5 4
8
1 6
1 6
1 7 5
2 14 11
1 8
8
36
2 16 6
1 9
37
2 18 2
1 9 10
38
2 19 11
1 10 9
39
3 1 9
1 11
40
3 3 8
1 12
3 5
5 9
1 13
42
3
7 11
1 14 10
HOLD ON∞NO OOO7-
DHOOD 20.∞∞∞∞.
1
0 9
5
09
9
0 9 77
1
0 9
5
0 10 0
0619 0
3
5
45
46
47
48
49
0 10 2
0 10
4
50
8
0 10 7
1
0 10 10
6
0 11 0
0 11 3
6
0 11 6
0
0 11 10
0 12 1
1
0 12 4
0 12
8
0 13 0
0 13
4
8
0 13 8
0 14
0
2
0 14 5
0 14 10
0 15 3
0 15 9
8
0 16 3
8
0 16 9
8
0 17 3
* ***** ***20 J**** ***JO AALAR 25
3 10 3
1 16
0
0 18 5
3 12 9
1 17 3
0 19 1
3.15 4
1 18 8
0 19 10
3 18
1
2 0
0
1
1 0 6
4 1 1
2 1
7
1 1 3
4 4 2
2 3
1
1
2 1
4 7 5
2
4 9
1
2 11
4 10 11
2 6
7
1
3 11
51
4 14 6
2 8
5
1
4 10
52
4 18 5
2 10
6
1
5 11
53
5 2 6
2 12
7
1
6 11
54
5 6 10
2 14
9
1
8 0
55
5 11 5
2 17 1
1 9 3
56
5 16 4
2 19 8
1 10 7
57
6 1
7
3 2
4
1 11 11
58
6 7
1
3 5
2
1 13 4
59
6 13 0
3 8 2
1 14 11
60
6 19 3
3 11 4
1 16 7
61
7 5 11
3 14 10
1 18 4
62
7 13 1
3 18 5
2 0 2
63
8 0 8
4 2 4
2 2 2
64
889
4 6 6
2 4 3
8 17 3
4 10 11
2
6 6
66
9 6
5
4 15 7
2 8 11
67
9 16 2
5 0 6
2 11 6
68
10 6 6
5 5 10
2 14 2
10 17 7
5 11 6
2 17 1
70
11 9 4
5 17 7
3 0 3
0 17 10
TABLE C.
SHORT PERIODS.
WITHOUT PROFITS.
Premiums for the Assurance of £100.
Age.
One Year.
Seven Years.
Age.
One Year.
Seven Years.
£
15
0
16
16
0
16
457
d.
£ S. d.
£ S. d.
0 18 1
38
1 5
0 18
4
39
1
6
17
0 16
9
0 18
7
40
1
7
18
0 16 11
0 18 11
41
1
8 5
19
0 17
2:0
0 17
21
0 17
1209
0 19 3
42
1
9
6
0 19
6
43
1 11
~64OLO OD OD
£
1
1
3
1
1 10 5
9
1 11
3
1 13
~64 COLO OJ KA
3789
d.
3
9
3
0 19 9
44
1
12
12 11
1 14
14 11
22
0 18
0
1 0 0
45
1
14
14 10
1
16 10
23
0 18
4
1
0 4
46
1
16
16 11
24
0 18
8
1 0
8
47
1
19 2
25
0 19
0
1
1
26
0 19
27
0 19 9
28
1
0
29
1 0
30
1 1 0
31
1 1 6
32
1 1 11
HQ27OOT
1
1
1
1
1 2
1
1
3
1
33
1
34
1
35
1
36
1
37
1 4
22344
5
1 4
2 11
1 4 11
6
1 5
1
1 6
9
1
6
0492706
1223ð að að THE STILO CO CO
48
2
1 8
49
2 4
4
50
2 7
3
51
2 10 5
52
2 13 10
53
2 17 7
2 19
54
3 1 8
3 3
360259
1222~~~~~
18 11
1
2
8
4
3
12
5
2 15 10
7
8
3 11
55
3 6 2
3
8 2
5
56
3
10
10
11
3 12
11
57
3 16 2
3 18 2
6
58
4 1 11
4 3
11
1
59
4
8
3
4 10 3
9
60
4 15
3
4 17
3

TABLE D. WITH PROFITS.
15
16
17
18
19
20
21
2
11 10
2
13
2222
23
24
25
26
27
3 19 7
4 3 1
28
4 6 11
29
4 11
0
30
4 15 8
31
5 0 9
4
1
32
5 6
5
4
33
5 12 9
4
- ∞
4
8
34
5 19 10
4 12
Annual Premium for the Assurance of £100, to be received at 50, 55, 60,
and 65 years of age, or earlier in case of Death.
Age next
Birth-day
14
50
d.
7
0
16
7
S.
2 13
2 15
2
2 18 2
2 19 11
3 1 10
3 3 10
3 6 0
co co co co co co co N N N NNH
£
2
2
55
S.
8
4
9 5
2 10 7
2 14
2 16
0
2 17 7
2 19 3
48 N N N N N N N N N m
1 3 10 7 O
∞ ∞ ∞ co co c++
3 8
4
3 10
10 10
3
3 13
6
3 16
5
1
1
0
5
0
7
3
9
7
3
3
3 12 1
3 14 11
3 17 10
1
2
2
∞ ∞ ∞ ∞ ∞ ∞ ∞ ∞ N N N N N N N N N N N N N &
4 A 3
60
65
d.
£
S.
d.
£
S.
d.
4
7
2
2
0
5
6
2
2
9
27
2 8
67∞
5
2
3
6
10 10
5
2
4
4
5
2
5
2
2 9
6
2
6
1
2 10
8
2
7
0
2 11
11
2
8
0
2
13
2
2
9
1
2 14
7
2 10
2
16
0
2 11
2
17
6
2
12 7
247
2
19
2
2
13 10
3
0
11
2
15
3
2
9
2
16
8
3
4
9
2
18
2 ∞ 2
2
3 6
10
2
19
10
35
6
7 11
4 17
17.
36
6 17 3
5
2
37
7 8 0
5 8
38
8 0
5
5 14
175 ∞ +27
3 9
1
3
1
6
3
11
11
6
3
3
4
5
3
14
2
3
5
4
8
3
17
0
3
17
4
4
0
0
3 9
40 00
5
8
5
4 3 4
3
12
0
4 7
0
3 14
7
4 10
11
3 17
4
39
8 15
3
6 1 10
4 15
3
4
0
4
40
9
13
0
6
10
10
0
5 0
1
4
3
7
41
6 19 5
5
5
4
4
7
1
42
43
* * * * * * O
7 10
3
5
11
11
3
4 11
0
8 2 11
5 17
11
4 15
2
44
8 17 11
6
5
4
4 19 10
45
46
47
48
49
50
9 15 10
6 13
9
5
4 10
7 3
5
5
10
10 6
51
52
53
54
55
:
:
:
•
: : :
:
:
:
:
:
:
:
:
7
14 6
5
16
8
8 7 4
6
3
7
9
2 6
6 11 3
10
0
8
778
7 0 0
9 10
1 2
8 14 3
9 9 9
10
8
1

TABLE E.
WITHOUT PROFITS.
Annual Premiums for the Assurance of £100 on two Joint Lives, payable
on the failure of the first life.
Age of Age of
A.
B.
Annual
Premium.
Age of Age of
A.
B.
Annual
Premium.
Age of Age of
B.
A.
Annual
Premium.
15
20
2223
15
25
30
35
40
45
50
4 2 2 2 2 ∞ ∞ LO
£
8.
d.
£
S.
d.
£
7
10
25
25
2 18 10
35
55
6
2 10 5
30
2 13
11
35
2
18
7
40
3
4 10
45
3 13 3
50
4 4 11
55
∞ OD ODLO CO
3
3
3 16
4
5
6
5
0
7
60
7
12
∞ ∞ ∞ ∞ ∞ —
3
0
60
7 16
3000
d.
8
7
5
7
40
40
4
10
0
6
45
4 19
8
7
9
50
3
1
55
3
10
60
LO CO ∞O
5 13
4
55
6 1
9
45
45
30
30
60
7 10
4
35
∞ ad
3
6
8
3 11
10
40
3
19
20
20
25
30
35
40
45
50
er A co ∞ ∞ ∞ N
2
12
8
45
4
10
2 15
11
50
5
5
10 2 MO
5
3
50
3
0
4
55
6
5
10
3 6
5
60
7 14
0
3 14
:** :& o
50
55
60
∞ ~ → a
7
6 13 0
8 0 3
5 8 6
6 1 8
7 0 4
∞ ∞ TH
8
6 11
50
6 14
0
55
7
11
9
60
8
17
4
7
4 6 1
Cop
35
35
3 16
5
1
7
40
4
3
~ 7
8
55
55
8
8
4
7
60
9 12 10
55
60
6 2
8
45
4 13 11
7 11
2
50
5 8 6
60
60
10 15 10
TABLE F. LAST SURVIVOR OF TWO LIVES.
Annual Premiums for the Assurance of £100, payable on the failure of the
last of two lives.
Age of Age of
A.
B.
Annuai
Premium.
A.
Age of Age of
B.
Anuual
Premium.
Age of Age of
B.
A.
Annual
Premium.
£
S.
d.
£
S.
d.
15
15
0 18
11
25
30
1.
7
7
40
40
20
1
0
4
35
1
9
7
45
25
1
1
8
40
1 11
7
50
30
1
3
1
45
1 13
35
1
4
6
50
1 15
40
1 5 10
55
1 16 9
45
1
7
1
60
1 18
5 20 2
55
60
4 N N N N N
£
2
327
d.
2 11
2
2 10
2 14
0
11
4
2 17
6
45
45
2 12
3
50
2 17
7
50
1
8 3
30
30
1 10
1
55
1 9 4
35
4
1 12 7
60
1 10
4
40
1 15
20
20
25
30
238
1 1 10
45
1 17
1 3 6
50
1 5 2
55
35
1
6 10
60
12 2
8
1 19
1
3
HD - CO ∞ ∞ +
55
3
2 6
60
3 6
10
1
6
50
50
3 4
7
55
3 11 5
8
60
3 17 10
4
40
1 8 5
35
35
1 15
9
55
45
1 10 ·0
40
1 18 11
39
55
4
0 10
60
4 10
0
50
1 11 5
45
2 2 1
55
1 12 8
50
2
4 10
60
60
LO
5
2
8
60
1 13 10
55
2 7 6
25
25
1 5 6
60
2 9 8

TABLE G.
CONTINGENT ASSURANCES.
Age of Age of
A.
B
Annual
Premium.
Annual Premiums required during the Joint Lives of two persons, A and B, for an
Assurance of £100, payable at the death of A, provided B be then living.
Age of Age of
A.
B.
B.
Annual
Premium.
Age of Age of
Annual
Premium.
d.
£
15
15
1
3. 11
30
20
1
2
10
25
1
1
10
30
1
0
9
35
0 19
8
40
0 18
11
20
25
30
4850 42RG
0 18
1
0
17
5
35
55
0 17
1
60
0 16
7
15
1 7
20
1 6
1 5
1 3
35
2
25
UNNE OGCABI
1 1
45
1 0
50
0 19
0 18
@ 17 8
7419D LO CD ON 26∞
5
3
2
40
1 12
1
10 10
==
1
30
35
40
1
9
5
1
8
0
35
1 6
40
1
4
45
1
3
30
20
25
1850 424
55
1 1
1 0
60
0 19 7
G6 – 967
50
3
55
60
0
45
15
20
699858 4288399890 4228444858 92
35
40
1
45
50
55
60
15
1
1
1
3197532
d.
1 11 4
45
4
2
4
7
50
4
25
222
5
4
2
2 0
2046
35
1 18
4
1 15
11
45
1 13
3
50
✰ 10
1
8
60
1
6
∞ ∞
8
4
55
3
15
2
14
4
20
2 13
4
2 12
0
2 10
1
2 7
8
2
5
0
55
2
2
0
60
1
18
10
1 15
6
60
1
12 6
20
25
15
1 17 10
30
1 16 7
35
1 15 0
40
30
1 13 4
45
on on an OD CO O Q
3 6 10
30
3
5 11
35
3 4 9
40
3
3 0
3
0
8
217
8
2 '14 3
60
850 424A394858 4228394050 42K5594848
55
60
42NN
£
d.
2.10
3
6
2.*
2
15
4 3
2
20
4
2
5
4
1
4
30
3 19 11
3 17 10
40
50
3 14 9
3 11 5
37
55
2
60
2 17
012
15
10 10 10
5
4 8
5
5
4
5
2
5
0
∞24∞n an
3
3
4 17
6
4 14
4
4 9
8
4
4
2
C
3 18
1
15
6 13
6 14
6 12 9
9 66
6 11
8
6 10
2
6 7
9
6 4
9
50
6
0 2
5 14 9
5 7
11
Age
next
Birth-
day.
TABLE H.
DEFERRED ANNUITIES.
Annual Premiums to assure an Annuity of £10 per annum, on attaining the
ages of 50, 55, 60, and 65.
50 55 60 65
50 55 60 65
Age
next
Birth-
day.
£ s. d. £ s.
d. £ s. d. £
S.
d.
£ s. d. £ s.
15
1 15 7 1 3
0 0 14 3 0
8
2
31
16
1 17
6 1
4
2 0 14 11 0
8
32
4 13 102 15
5 1 22 19
d. £ s.
81 12
d. £
17
1 19
61
61 5 5
50 15 80
9
0
33
18 2 1
81 6
90 16
50 9 5
34
5 9 6 3 3
5 18 11 3 8
60 18 0
0
5 1 14 5 0 19
71 16 71
11 18 111
0
1 3
19
2 4
01 8
10 17
30
9 10
35
6 9 93 13
2 2
1
22 1 61
2 7
20 2 6
61 9
70 18
10 10 4
36
3 18 10 2 4
31
3 11
21 2 9
21 11
20 19
20 10 10
37
4 5
4.5
12 7
12 7
41
41
5 5
22
2 12
11 12 11 1
0
0 0 11 4
38
4.12
3 2 10
8 1
7 0
23
2 15
31 14
91 1
0 0 11 11
39
5 0
3 2 14
51
8 10
24
2 18
81 16
81 2
10 12
6
40
5 9
9
52 18
61 10 10
25 3 2
5 1 18
91 3
30 13
2
41
3 3
21 12 11
26 3 6
62 0
11 4 7 0 13 10
42
3 8
41 15 3
27
3 10 11 2 3
3
61
6 1 5 110 14
7
43
3 14
11 17 10
28 3 15 10 2 6
21
7 50 15
4
44
4 0 9 2 0 9
29 4 1 22 9 01
8110 16 2
45
4 8 32
3 11
30 4 7 21 12 2 1 10 80 17 0
Any rates of Premium not specified in this Prospectus may be known on application
to the Office, or to any of the Society's Agents throughout the country.

12
GRESHAM LIFE ASSURANCE SOCIETY.
THE first annual meeting of the proprietors and policy-holders of
this Society was held on Thursday, 11th October, at one o'clock, at
the offices, in the Old Jewry. WILLIAM TABOR, Esq., Chairman of
the Society, was in the chair. The attendance of proprietors and
policy-holders was numerous and influential, and all appeared to take
great interest in the proceedings; especially in the reading of that
portion of the report in which the large amount of business trans-
acted, and its rate of increase are so clearly exhibited.
The Chairman called upon the Secretary to read the Report, and
in doing so expressed the pleasure which he and his brother directors
experienced at beholding so large an attendance of shareholders and
policy-holders.
Mr. T. A. POTT (the Secretary) then read the following report of
the proceedings of the Society to the 31st July, 1849.
FIRST ANNUAL REPORT
OF THE
DIRECTORS
TO THE
SHAREHOLDERS AND POLICY-HOLDERS,
11TH OCTOBER, 1849.
In accordance with the provisions of the Deed of Settlement, you
have been invited here to-day to receive the Report of your Directors
on the business transacted during the year ending 31st July last,
together with the account of receipts and disbursements for the same
period; which having been certified by the Auditors, will, it is con-
fidently anticipated, receive your entire approval.
Pursuant to the terms of the Deed of Settlement, the following
Directors retire by lot:-JOHN BEADNELL, Jun., ALFRED SMEE, and
GEORGE TYLER, Esqrs.; who are all eligible and candidates for the
Direction; and the Board of Management recommend them to the
Proprietors for re-election.
The Auditors-Messrs. DAVIES, LADBURY, LOWE, and PERRY-
also retire from office by the provisions of the Society's Deed, but
are eligible and are candidates for re-election.

GRESHAM LIFE ASSURANCE SOCIETY.
13
As the Deed of Settlement requires that an account of the
attendances of the Directors at Board meetings should be submitted
to you; your attention is solicited to the statement thereof now fur-
nished.
Your Directors also think it right to state that, in addition
to the board attendances, one or more of their number have attended
daily at the Office, and that this arrangement has materially enhanced
the interests of the Society.
Your Directors have much pleasure to report, that no claim has
arisen by death during this the first year of the Society's existence;
a fact which, considering the number assured (419), must prove as
satisfactory to the Members as it is gratifying to your Directors, and
which, it is hoped, may be taken as an evidence of the care with
which this branch of the business has been conducted by your
Directors assisted by their Medical Officers.
Having disposed of those matters which are provided for by the Deed of Settle-
ment, your Directors pass with lively satisfaction to other topics of great interest to
the Share-holders, the Policy-holders, and the Public; disclosing as they do the
superior advantages offered by this society to all classes of assurers; advantages
which they conscientiously believe are not surpassed by those of any Assurance Office
in the kingdom.
In setting forth these advantages, and the consequent claims of the Gresham Life
Assurance Society to public confidence and support, it may in truth be said that this
Society originated in the more general appreciation of Life Assurance as a provision
for survivors; inasmuch as out of the number of those persons who have sought
to avail themselves of its advantages, many thousands were annually precluded by
the general practice of admitting none but such as are pronounced-upon certain
medical principles-first-class lives. This practice was found to operate so much to
the prejudice of a considerable number of persons (to whom their supposed physical
disqualifications became a source of additional anxiety after the rejection of their
proposals for assurance) that the projector of this Society was induced to turn his
attention to the establishment of an Office which, whilst it should be open for the
transaction of all the usual branches of assurance upon first class lives, SHOULD ALSO
EMBRACE THE NOVEL AND DESIRABLE PROJECT OF ASSURING "LIVES WHICH, NOT
BEING POSITIVELY DISEASED NOR HAVING ANY STRONG TENDENCY THERETO," might
nevertheless be found, by the ordinary medical standard, a little below the average
of sound and robust constitutions. It was felt to be a matter of pressing necessity
that some Office should be established on principles at once sound, liberal, and com-
prehensive; and it was to meet this necessity that the "Gresham" Society, embracing
especially, but not exclusively, this particular class of business, was projected and esta-
blished, with very flattering prospects.
flattering prospects. It was supported by the opinions and
authority of some of the leading Actuaries in the profession; who did not hesitate to
express their conviction that an Office based on such principles would, if properly
conducted, not only effect an immense amount of good, but also transact a safe, large,
and profitable business. It is, therefore, with peculiar pleasure that your Directors
refer, under such circumstances, to the statement of business transacted; and to this
they have now to call your particular attention.

14
GRESHAM LIFE ASSURANCE SOCIETY.
TOTAL AMOUNT OF BUSINESS TRANSACTED OR
SUBMITTED DURING THE YEAR.
Proposals made to the Society for assurances
(amounting in the aggregate to £339,724.)
Proposals incomplete and under consideration
(amounting to £91,452.)
932
229
Proposals declined (amounting in the aggregate to
£99,112.) ..
284
Proposals accepted, and upon which the premiums
have been paid, each Policy averaging £356.
419
£149,160 0 0
оо
£5,615, 11 8
Gross Sum Assured by 419 Policies, being the
number issued to July 31st...
Producing an annual Income of…………….
It will no doubt be interesting to the Share-holders and Policy-
holders to be informed of the number of first class lives assured,
relatively to those upon which an increased premium is payable.
Your Directors therefore furnish the following statement of each,
viz :-
Policies issued at ordinary rates; the assurances
being on first-class lives
237
Policies issued at increased rates; the assurances
being on lives supposed to be somewhat below
the average
182
FROM THIS STATEMENT IT WILL BE SEEN THAT, HAD THE SOCIETY'S BUSINESS
BEEN LIMITED TO WHAT, IN ASSURANCE LANGUAGE, IS TERMED FIRST-CLASS LIVES,
ITS SUCCESS, FROM THE CONFIDENCE PLACED IN IT BY THE PUBLIC, WOULD STILL
HAVE BEEN VERY GREAT.
Your Directors are, no doubt, supported by the Members in the opinion that they
have been fully justified in any remarks they have ventured to offer on the position
and prospects of this Society; and that in its establishment and practical working
they have had
sanguine could have predicted, or the most prudent could have desired. The fact
of between 900 and 1000 proposals for assurance having been made to the Society
in the first year of its existence, is one which if not altogether unparalleled, is a proof
- 01 very decided success, since only one or two instances can be found-and those not
of recent date-which at all approach to such success. It may be well to remark
that many of those who have sought to become assured with the "Gresham” are
persons who not only hold a good position in society, but are familiar with old and
wealthy Corporations, and are fully competent to judge of the importance of selecting
a responsible society for such a purpose. The only circumstance connected with the
Cole good fortune to realize all the advantages which the most
Gall

GRESHAM LIFE ASSURANCE SOCIETY,
15
business of the Society apparently to be regretted seems to be, that of those who
have proposed for Policies, the Directors have been compelled, after an anxious
consideration, to decline the assurance of so large a number. But it must be borne
in mind that the Society does not undertake the assurance of lives in a state of posi-
tive disease or even of those in which a strong indication is given of a tendency thereto;
but it seeks the assurance of those lives which appear, after searching examination, to
have been declined upon insufficient grounds.
Your Directors would now call attention to one very important feature-and one to
which they have given much cautious deliberation-the constitution of this Society.
It will be borne in mind, that a Company on the purely mutual principle might have
been established with equal facility, and perhaps might have shown superior advan-
tages to the casual observer, yet after the most careful enquiries and deliberation
your Directors could only come to the conclusion that the "mixed mutual and pro-
prietary" was the only system with which they could prudently commence a Society
possessing the peculiar features which distinguish the "Gresham.”
The advantages derivable from this system to the assured, are undeniably very
great, in whatever light the subject may be viewed. In the first place, the Policy-
holders have the benefit of a Capital Fund which, if not too large to be profitably
employed, is a source of security, and must therefore be of great benefit to the Policy-
holder. This view of the question has been frequently confirmed by Members of
"Mutual" Societies, who purposed making proposals for assurance to the "Gresham,"
and who, previously to effecting a Policy, have enquired the amount of subscribed
and paid-up Capital, and the position of those parties who hold shares, and as satis-
factory answers were given, such Assurances were in due course completed.
The Capital of the Society is essentially a working Capital, and is so invested as to
become a very productive source of Life-Assurance Business. This will be apparent
when it is stated, that the Capital is invested in a manner combining both safety and
profit, by loans to individuals effecting Policies. In no case is an advance made
without unexceptionable security, and then only on the condition that a Policy or
Policies of Assurance are effected in connection therewith. As the expenses of Manage-
ment are borne rateably by all the Assurers, it follows that the greater the number of
Assurances which are effected, the better will it be for the Policy-holders. The
Capital of this Society is sufficient for the security of the Policy-holders beyond the
shadow of a doubt: at the same time it is not so large as to make it difficult to find
profitable investments.
Acting therefore upon these impressions, and with the advice of the best autho-
rities, your Directors have made the nominal Capital of the Society £100,000 which
they have divided into 5,000 shares of £20 each: of these, 2,548 shares have been
allotted, and £6,158 10s. paid: which shows an average of £2 8s. 6d. per share. This
but your
is more than is customary for Assurance offices to receive on each share;
· Directors feel convinced that a moderate Capital is not only desirable but essential:-
at least during the earlier years of a society of this nature.
In connection with this branch of the subject, there remains to be noticed one im-
portant reservation in the Society's Deed of Settlement; and that is, the power therein
contained of converting the Society into one on the purely mutual principle whenever
such a step shall be, in the opinion of the Members, a wise and prudent measure.
Your Directors have next to invite your attention in detail to the Statement of the
Society's Receipts and Disbursements for the year ending 31st July last, already
furnished to you.
As might have been expected, the services required, and the charges in respect of

16
GRESHAM LIFE ASSURANCE SOCIETY,
many items in the account of the first year's expenditure, are comparatively heavy;
but the necessity for them was imperative. The preparation of the Deed of Settle-
ment, the heavy fees payable on Registration, the charges for Fittings and Furniture
of Offices, Stationery, Printing, Advertisements, etc., are examples of this kind. In
this Society the first year's receipts for premiums alone have been more than sufficient to
pay the whole of the expenses of formation and charges of management, besides leaving a
considerable surplus, so that the Capital is preserved intact. A still more favorable
view remains; for as by the provisions of the Deed of Settlement the preliminary ex-
penditure may be distributed over a period of seven years, no less a sum than £2,291
13s. 6d., from premiums received; would remain to meet any claims which may
arise after having charged the first year's premiums with its proportion. During the
past year, about two hundred Agencies have been established throughout the kingdom,
together with the usual means and appliances necessary for conducting the business
of such an Institution Your Directors have, nevertheless, studiously avoided all ex-
penditure of a speculative character, and confined the expenses to actual matters of
business; and it will be seen, by a careful examination of the Balance Sheet, that the
expenses have been entirely due to the large amount of business transacted.
It must be conceded that it is of the utmost importance to the Society, as well as
the Policy-holders, that on every life assured, a sufficient premium should be charged
to cover the risk incurred; and therefore, some of the assurances effected in this
Society have been and must be, subjected to an increase of premium proportionate to
the risk, and of course dependent upon the peculiar circumstances of the case. But
this extra rate is not necessarily a continuous charge; -on the contrary, the privilege
of a re-consideration of such case is conceded at intervals of not less than one year,
when, if the improved condition of the life assured be such as to justify the Directors
in making a reduction, they invariably reduce the charge. It gives your Directors
much pleasure to state that in some instances this reduction HAS ALREADY BEEN
MADE, after a careful re-examination had satisfactorily shown its practicability con-
sistently with the safety of the Office. But besides this advantage (which is peculiar
to this Society), your Directors cannot forbear to remind you that in the event of such
extra charge being found excessive, the proportion of such excess is certain to return
in an improved ratio to the holder of the Policy in the shape of a bonus at every di-
vision of profits-four-fifths or 80 per cent. of such profits being set apart for this
especial purpose, and a separate account is expressly kept of this branch of the business
as fully set forth in the prospectus. The Members of this Society will therefore
readily approve of the determination of the Board of Directors not to accept any
assurance without a rate of premium which is fairly equivalent to the risk.
Your attention is now called to the facilities offered by this Society for the prompt
transaction of all business presented at the Head Offices in the Old Jewry; as in
consequence of these it frequently happens that a proposal is sent from the country,
and a final answer returned in a few hours. To those engaged as Life Assurance
AGENTS these facilities are of great importance; and many Agents, who have
had proposals declined by their own Societies, have retained the cases until they
have received a reply from this Office, and frequently, instead of having to com-
municate to their clients the unwelcome intelligence that the proposal is altogether
"declined," have had the more pleasing and satisfactory task of reporting its
acceptance by this Society. It is almost unnecessary to add, that the Agents, as
well as the Assured have spoken in terms of satisfaction of this course; the advantage
of which they could not fail to appreciate.
Your Directors have also great pleasure in stating, that a large majority of the
most respectable Assurance Offices are so fully aware of the advantages of this system
to themselves, that they have afforded their cordial support to this Society; which,

GRESHAM LIFE ASSURANCE SOCIETY.
17
by extending the practice of Life Assurance, becomes of interest in a National point
of view.
In conclusion, your Directors beg to state, that it will be their study to conduct
the Society's affairs in such a manner that the Policy-holders may derive all the
advantages which the system is capable of affording; and as the success of such
an Institution must greatly depend upon the assistance afforded by both Share and
Policy-holders, your Directors beg to urge upon all the members the great importance
of using their utmost efforts to obtain an accession to their numbers amongst their
friends and connexions, and, within their sphere, to make known the objects of
the Society. The Gresham Life Assurance Society already numbers nearly six
hundred members, it therefore follows that if each one would add one friend or
acquaintance to the number, such an accession of strength would result to this
Society as would place it in the first rank amongst the Insurance Offices of Great
Britain. Your Directors believe that there are but few amongst you to whom
this effort would be either unpleasant or unprofitable; as doubtless each of you have
some relative, friend, or acquaintance who has, up to the present time, overlooked
or neglected to make this NECESSARY PROVISION for those depending upon him;
for it is a well known fact that the majority of those assurances which are at present
annually effected, are not assurances effected for this laudable purpose; but are
generally in connexion with some financial transaction. From Statistical Returns
it appears that not more than one in fifty of the entire adult population have
hitherto availed themselves of the advantages of life assurance! which shows the
ample field which is still open for your exertions. Your Directors need hardly
remind you that, should your endeavours be crowned with success but in a solitary
instance, you will have the satisfaction of knowing that you have induced one, at
least, of your fellow men to turn his attention to a subject which will prove a source
of comfort to himself during life, and of independence to his family after his decease.
By order of the Board of Directors,
THOMAS ALFRED POTT, SECRETARY.
The Chairman in moving the adoption of the report, after referring to the pros-
perous state of the Society, as exhibited in the report, remarked that at the close, he
believed of the session of 1844, an act was passed, providing that all joint-stock
companies, established from that time, should be registered, and that they should
furnish from time to time balance-sheets, exhibiting their condition. Since that
period, a number of life assurance societies, which came within the meaning of the
act, had sprung into existence, some of them offering various inducements to the
public to join them. Some claimed support from the well-known character of the
gentlemen constituting their boards of direction, on which were to be found men
of the first standing, connected both with the political and mercantile community;
and on the other hand, courting support on account of being enabled to guarantee a
large amount of paid-up capital for the security of those who might assure their
lives in connexion with them; or offering some great and peculiar advantages. Now,
the "Gresham," not to speak too boldly of it, offered every advantage which an
assurance company could consistently be expected to afford; but in addition, it pre-
sented one or two advantages which were altogether peculiar to it. The preliminary

18
GRESHAM LIFE ASSURANCE SOCIETY.
and working expenses of the company amounted to £4,541 14s. 8d., whilst the
premiums realised during the first year amount to £4,837 4s. 7d, showing the
entire amount of these expenses to be £300 less than the premiums received during
the first year. This, indeed, he believed, was a circumstance upon which they might
congratulate themselves; but in order to show the advantageous and encouraging
position in which they stood, it would be no unprofitable task to contrast their
preliminary expenditure and the entire expenditure of the first year with that of
other offices. He held in his hand a return, printed by order of the House of Com-
mons last session, which contained the balance-sheets of the companies established
since the passing of the act to which he had referred. In dealing with any thing
that had appeared in that return, he did not feel that he was called upon to exercise
any particular delicacy in any references he might make, since the return was,
strictly speaking, public property. From one return, it appeared, from the balance-
sheet of a Life Assurance Society, that during the first nine months of its existence
it had received £571 9s. 2d. as premiums, and expended during the same period
no less a sum than £4,800. It appeared, therefore, that the expenditure was seven
times greater than the receipts from premiums. He wished the Shareholders and
Policy-holders to understand that the instances quoted were not singled out for
any invidious purpose, but were taken indiscriminately in order to shew the position
of the "Gresham" as contrasted with other societies. The hon. gentleman then cited
the receipts of one or two new assurance companies, on account of premiums, and the
amount disbursed in management, to show in how much better a position the
"Gresham" stood than any of them. He had looked for the best accounts that he
could find, and the result was that it appeared another company had during eighteen
months received £3671 19s. in premiums, and had expended £3,405 5s. leaving a
small surplus of £200 of premiums over the expenditure. But the last office referred
to had a paid-up capital of £35,292, which of course, being supplied by a large
number of individuals, had better facilities of obtaining policies. It was unnecessary
for him to go further, because the members must be convinced that their operations
had been most successful (loud cheers).
A Share-holder said no balance-sheet appeared to have been registered by this
Company.
The Chairman replied that the Parliamentary return was made up to the 2nd of April
last. The "Gresham" was at that time in an infantine state, and had not completed
its first financial year. If the Shareholders and Policy-holders, who had been invited
to attend the meeting, would refer to a printed statement of the gradual advance the
society had made since its establishment, they would perceive the great progress it
had made in public estimation. In the first quarter they issued sixty-three policies,
in the second, ninety-five, showing an advance of 50 per cent; in the third 114,
shewing great progress, and in the fourth 147. Having stated that he should feel
happy to reply to any question, the Chairman concluded by moving the adoption of
the report and balance-sheet.
Mr. MATTHEW MARSHALL (chief cashier to the Bank of England) a Trustee,
seconded the motion, congratulating the share-holders on the eminent success which
had attended the institution during the short time it had been in existence.
Mr. WHITELOCK (a share-holder) wished to know if the board would entertain any
further applications for shares, and if so, whether they would be allotted at par, or a
premium. To which-
The Chairman replied, that the Board felt justified in allotting shares only as
opportunities should present themselves for advantageous investments. The past

GRESHAM LIFE ASSURANCE SOCIETY.
19
year's experience had shewn that a limited amount of further capital might be so
employed, and the Directors were therefore willing to entertain applications for
shares to a moderate extent; and in preference to offering them at a premium, they
thought it better to require that a proposal for assurance should accompany each
application for shares from and after the present date. Of the present value of the
Society's shares the Directors were not aware; but from the numerous applications
which had been made for them by persons fully acquainted with the working of
similar institutions, they entertained no doubt of their having increased in value
even at the present date, and that they would still rise in public estimation, and,
therefore, in market value.
Another Shareholder enquired the amount invested, when the Chairman stated
that the sum invested up to the 11th October instant, was £15,051 8s. of which
£2,629 16s. had been repaid; and, consequently, there was available for claims
under policies the sum of £12,421 12s., besides the premiums on new assurances
effected, which, as a matter of course were accumulating daily.
Some discussion and explanation then took place with respect to one or two items
in the balance-sheet, with which the meeting appeared perfectly satisfied, and in the
course of which the small amount of the expenses of the Society was much praised,
the motion was adopted unanimously with great applause.
MR. ALFRED SMEE, after developing his views of the importance of duly audited
accounts, and highly eulogising the gentlemen who discharged that duty for the
Company, remarked that the value of the names of these gentlemen could not fail
to have much influence with the public, and he had therefore great pleasure in
moving that a vote of thanks and thirty guineas be presented to their four auditors,
PROFESSOR DAVIES, F.R.S., MR. G. H. LADBURY, MR. GEORGE LOWE, F.R.S., and
MR. THOMAS PERRY, for their great care in examining the various accounts.
The motion was seconded by MR. HILL, and carried with applause.
MR. BRITTEN said, the following Directors, according to the Deed of Settlement,
retired by lot:-JOHN BEADNELL, JUN., ESQ., ALFRED SMEE, ESQ., and GEORGE
TYLER, ESQ.; who had shewn themselves most efficient in the discharge of their
duties, and whom he was sure they would unanimously regret to lose. He believed
the Share-holders would consult the interests of the Society by re-electing them.
The motion was seconded by MR. PATERSON, and carried unanimously.
MR. TYLER expressed his acknowledgments on behalf of himself and colleagues.
They could only say, that during the forthcoming year their exertions would be
devoted to increase the business of the office, and he confidently hoped, that on the
next occasion they met the proprietors and policy-holders, they might be enabled
to say that the business had been greatly extended.
The REV. MR. TYLER proposed that PROFESSOR DAVIES, F.R.S., and G. H. LAD-
BURY, ESQ., be elected auditors on behalf of the Shareholders, which was seconded
by MR. SOWELL, and carried unanimously.
On the motion of Mr. BURR (of Rochester), GEORGE LOWE, Esq., F.R.S., and
THOMAS PERRY, ESQ., were elected auditors on behalf of the Policy-holders.
MR. BURR said he had been an insurance agent for fifteen years, and in that time he
had received five hundred proposals, the premiums upon which would amount to,
from £4,000 to £5,000 a year, which was equivalent to the revenue of some offices
which had been years in existence. How many did they think out of that number

20
GRESHAM LIFE ASSURANCE SOCIETY.
had been declined? Forty-four: who had proposed to assure themselves for an
aggregate sum of £21,000. Until the "Gresham" was instituted, he was obliged to
tell forty out of these forty-four persons, that they could not have their lives assured,
however willing they might be to pay an increased rate. His friend opposite could
tell a similar story.
MR. GOSBELL remarked, that he had had five times that number declined.
MR. BURR said, to shew the advantage of the "Gresham," he would cite a case
which had occurred within his agency. A lady, aged sixty-one, wished to assure her
life for £4,000. She had been declined by another office, and he urged upon her to
allow him to propose her to the "Gresham," and at the present time this lady was
assured at the office.
MR. GOSBELL seconded the motion. Whilst he had been instrumental in obtaining
assurances to the amount of a quarter of a million, he had had assurances to the
amount of £100,000 declined. He had brought this office policies to the amount of
£10,000 during its first year, and he held three policies in it himself.
MR. WILLIAM SMEE (accountant in chief to the Bank of England), a trustee, said
he rose with great pleasure to propose a vote of thanks to the Board of Directors.
For himself he must say he should not have consented to become a trustee of the
society, had he not entertained the highest opinion of those who were to be entrusted
with its management-not only of their enterprise and ability, but, above all, of the
integrity of the Board of Directors of the "Gresham."
MR. HILL seconded the proposition. When they looked at the high position
which the office occupied, and bore in mind the great energy and labour that must
have been exercised to carry it to that high position, the members would agree with
him that the Directors were entitled to their best thanks.
The motion was carried unanimously amidst much applause.
MR. THORNTHWAITE returned thanks. He could assure them it should always
be their endeavour to labor to the satisfaction of all the members. He hoped that
they should so conduct their business that their elder brethren connected with life
assurance would continue that cordial understanding which at present subsisted
between the "Gresham" and the chief offices. When they became Directors of the
society, they had no idea that the business would consume so much time: but this
arose from its great extent. They had nearly 1,000 proposals made to them during
the year. Now, though a number of these were declined, and no notice taken of them
in the books, beyond the mere fact of their receipt and rejection, yet as much time
was devoted to these cases by the medical officers and the directors as if they appeared
on the books as accepted policies. Indeed, he must say that the declined cases occu-
pied more time than the others, the directors having considered no trouble too great;
and they hoped next year to double or treble the business.
MR. WILLIAMS proposed a vote of thanks to MR. ALFRED SMEE, whose zeal and
industry in promoting the success of the society had been unwearied. The office of
surgeon to a life assurance society was at all times very difficult to fill; but in their
society, where they had to deal with lives declined by other offices, which required
the most careful investigation, the duties of such an officer were paramount. MR.
SMEE possessed all the qualities in an eminent degree, and the results of his skill the
directors had had the pleasure that day to lay before the Shareholders. But, in
addition to his duties as their medical officer, he had devoted his personal exertions
to the promotion of the business.

GRESHAM LIFE ASSURANCE SOCIETY.
21
MR. THORNTHWAITE seconded the motion. MR. SMEE was a gentleman well known
in the scientific world for his great attainments and skill in the medical profession,
besides being connected with the largest establishment in the world, the Bank of
England, as well as several other establishments. When they considered that not
one death had occurred during the past year, they must be satisfied that the lives had
been carefully selected.
MR. ALFRED SMEE acknowledged the compliment paid to him in forcible terms;
referring with much feeling to the devastating epidemic that had recently passed over
the metropolis, and pointing out the importance of the medical officers of Life Assu-
rance Institutions making themselves intimately acquainted with those laws by which
such calamitous visitations were governed. Maps were prepared of the localities
which the cholera would most affect, and medical men, before the scourge came, were
say
enabled to mark out the places where the disease would be most rife. He could
truly, and without reserve, that he had used the greatest amount of skill at his com-
mand, and that he had done his best to promote the welfare of the society.
MR. TYLER proposed a vote of thanks to MR. T. H. DEVONSHIRE, the Solicitor,
which was seconded by MR. WEST, who complimented the society upon the small
amount they had incurred for the legal expenses incidental to the commencement
of the office.
The motion was carried unanimously, with cheers, and MR. DEVONSHIRE returned
thanks.
It was then moved by J. LYNE HANCOCK, Esq., seconded by F. A. DAVISS, ESQ.,
and carried uuanimously with much applause,—
"That the best thanks of the meeting be presented to MR. T. A. POTT, the founder
of the "Gresham Life Assurance Society" and its present secretary, for the great
zeal and ability displayed by him in the formation of the corporation and in the
subsequent conduct of its affairs."
MR. T. A. POTT, briefly expressed his acknowledgments for the mark of appro-
bation and confidence which they had so kindly expressed. He should always
continue to devote his time and attention to the interests of the society.
A vote of thanks was next passed to the CHAIRMAN, who returned thanks and the
meeting separated.

22
GRESHAM LIFE ASSURANCE SOCIETY.
SECOND ANNUAL REPORT
OF THE
DIRECTORS
TO THE
SHAREHOLDERS AND POLICY-HOLDERS,
READ AT THE ORDINARY GENERAL MEETING,
ON THE 10TH OCTOBER, 1850.
TOGETHER
WITH AN ACCOUNT OF THE PROCEEDINGS GENERALLY ON
THE OCCASION.
WILLIAM TABOR, ESQ., CHAIRMAN OF THE SOCIETY, having
taken the Chair, called upon MR. T. A. POTT, the SECRETARY, 0
read the following REPORT.
Ir is required by the Deed of Settlement of this Society, that within a certain period
after the close of each financial year, the Board of Management should furnish a
Report of the business transacted during the past year, together with an account of
the Society's receipts and disbursements for the same period, to be submitted for your
information and approval.
Your Directors have much pleasure in meeting you this day, and beg to submit to
you, in accordance with the above-mentioned requirements, their financial statement,
which has been minutely examined by the Auditors, and certified to be correct.
By the constitution of the Society, three of the Directors retire annually.-On the
present occasion, it has fallen to the lot of MESSRS, SOLLY, WILLIAMS, and DAVISS, to
retire accordingly: all of whom being eligible and candidates for the office, your
Directors recommend them to the Shareholders for re-election.
The Auditors, both on the part of the Shareholders and Policy-holders, retire
annually; but considering the great importance of an audit by gentlemen ex-
perienced in Public Companies' accounts, your Directors, in the event of no change
being desired, again recommend the nomination of PROFESSOR DAVIES, and G. H.
LADBURY, ESQ. to the Shareholders, and GEORGE LOWE, and THOMAS PERRY, ESQRs.
to the Policy-holders.
The Attendance-book of the Directors is submitted for your inspection; and
you may observe that, upon an average, four Directors have attended at the Office
every day.

GRESHAM LIFE ASSURANCE SOCIETY.
23
Your Directors now proceed with the highest satisfaction to congratulate their
fellow Shareholders and Policy-holders upon the progressive success of the Society,
and beg their attention to the following Statement, which they trust will speak
with sufficient clearness for itself.
During the First Year of the Society's operations, NINE HUN-
DRED AND THIRTY TWO PROPOSALS were made to the Office
for Assurances, amounting in the aggregate to £339,724 of these
Four Hundred and Nineteen Policies were completed within that
period, assuring the gross sum of £149,160, and producing an
Annual income from Premiums of £5,615 11s. 8d.
Of the re-
mainder, the greater portion were not deemed suitable lives for this
Society, and therefore declined; whilst some stood over for further
investigation.
During the Second Year, expiring on the 31st July last, the num-
ber of proposals made to the Office was, ONE THOUSAND AND SIX,
for Assurances amounting in the aggregate to £491,435 10s. Od.
Of these Five Hundred and One Policies have been accepted and
completed within that period, assuring in the gross the sum of
£219,040 11s. Od., and producing an Annual income from Premiums
of £8,281 2s. 1d.
With regard to the remaining five hundred and five proposals, the
same remarks will apply as to those not completed at the end of the
first year.
The number of Assurances in force at the end of July last, after
allowing for lapsed and other discontinued Policies, is, EIGHT
HUNDRED AND FORTY FIVE, Assuring £342,490 7s. Od., and
producing an Annual Income of £13,058 13s. 11d.
Of these, your Directors think right to report that the majority are upon first-
class lives, and are consequently assured at the tabular rates.
The remaining portion pay extra rates, in consequence of the lives having been
considered by your Directors to be somewhat below the average standard of health.
From the above statement, it will be manifest that the progress of this Society
has, from its first establishment, been signally rapid and encouraging.
Perhaps, however, the highly prosperous state of the "Gresham," and the mag-
nitude of its operations, will be better appreciated by comparing the proceedings of
this year with those of other Offices, and your Directors rejoice to observe that the
business transacted equals, and in many cases even exceeds, that effected by many of
those of long standing and great wealth, and which consequently justly enjoy a large
share of public confidence and support.
Your Directors have rigidly adhered to their resolution of confining the expenditure
within the limits of a judicious economy, with a proper regard to the spirit of enter-
prise, which is absolutely essential to success: and with the due liberality requisite

24
GRESHAM LIFE ASSURANCE SOCIETY.
for securing a large business, they have to the best of their judgment, avoided every
outlay of a merely speculative character.
Having regard, therefore, to the large amount of business transacted, your
Directors confidently assert that few establishments of the kind have ever been more
economically conducted during the first years of their exisience, than the one over
which they have the honor to preside.
A Life-Assurance authority, in one of his most valuable works, in speaking of the
outlay absolutely required in the establishment and management of these Institutions
during the first years of their existence, justly remarks, that "it would not be
surprising to find the whole of the premiums received during the first years, absorbed
by their expenses;-such as Rent, Salaries, Advertisements, etc., etc."
Your Directors consider, therefore, that they may congratulate themselves and
their fellow Share and Policy-holders on the monetary position of this Society;-the
first year's premiums having alone not only produced a sufficient fund to meet all demands,
including the invariably heavy expenses of formation, but have been sufficient to carry a
surplus to the Society's Funds.
Prosperous as were the operations of the first year, those of the second have not
been less so-as your Directors have been enabled to add, from premiums alone, near
£6,000 to the Society's rest—they think it right further to remark that the entire
subscribed capital remains intact, and, together with sums received for annuities, has
been so invested as to enhance the general interests of the Society.
The Investments of the Society at the close of the first year amounted to the sum
of £7,454 15s. Od., and at the expiration of this second year, to £18,172 17s. 2d.,
showing an increase of no less a sum than £10,718 2s. 2d., which is the more satis-
factory when it is remembered that the increase in the Society's capital has arisen
chiefly from the premiums received during the first two years of the Society's existence.
With respect to the Society's shares, your Directors have granted during the past
year allotments to several persons of unquestionable respectability, who have required
them as a bona fide investment, and whose co-operation it appeared desirable to
secure.
Your Directors believe that the interests of the Society still require that they
should not restrict the issue of Shares, and they assure the early friends and sup-
porters of the Institution, that they are fully sensible of their interests, and that they
are determined to use great discrimination in the allotment of shares to new members,
now that the state of the Society makes them a desirable investment.
Your Directors being fully justified in their belief that the "Gresham" will not
only sustain its present position, but so increase in extent and importance, as speedily
to become one of the most important Institutions in the kingdom, have given much
time and anxious deliberation to the framing of rules and regulations for the govern-
ment of the Office, not only commensurate with the extent of the current business,
but applicable to its more extended requirements in future.
With respect to the comparatively small sum shown in the Balance Sheet to have
been required for claims during the two years, under the nine hundred and twenty
Policies issued up to July last, with a further small amount which was not due at
the end of the year, your Directors feel that such a result shows a rate of Mortality
not only considerably below that which they are entitled to expect, according to the
generally received law of Mortality, but also much below that provided for by the
premiums received.

GRESHAM LIFE ASSURANCE SOCIETY.
25
Your Directors, however, cannot expect a continuance of any such deviation from
the law of Mortality, and now having such a number of assured lives as to constitute
a fair average, they are fully prepared annually to expect claims proportionate to
the number of assurances, and the rates of premium charged.
Your Directors, in closing this statement, confidently rely upon your approbation
of their general management of the Society's affairs, and solicit your cordial co-
operation in extending the business of the Office: they assure you that their best
efforts will continue to be exerted towards securing the interests of every member of
the Institution; and, in return, they hope that both Share and Policy-holders will
continue their confidence and support.
By order of the Board of Directors,
THOMAS ALFRED POTT, SECRETARY.
The CHAIRMAN then rose, and stated he should simply move the adoption of the
Report, not deeming it necessary, on account of the elaborate details furnished in the
document they had just heard read, to add anything to it; there was nothing that
he was aware of which required any special mention. He should feel very happy to
afford any information which either the proprietors or policy-holders might require
at his hands.
MR. MATTHEW MARSHALL (chief cashier of the Bank of England), seconded the
motion. He said, bearing in mind the extent of the business and connections of the
office, he looked upon the small number of gentlemen present, as compared with the
number who attended their first annual meeting, as a token that both Shareholders
and Policy-holders were perfectly satisfied in leaving their affairs in the hands
of the gentlemen who filled the office of directors, firmly believing, as they must,
that the past confidence which they had reposed in them had not been misplaced, and
that they would go on steadily and wisely as they had heretofore done, promoting
and maintaining the success of the institution (cheers). He thought it unnecessary,
on that occasion, to make any remarks on the Report: it was so full, so simple, and
so clear, that he considered he would not be warranted in occupying their time.
He begged, therefore, to congratulate the Shareholders (he was not a Policy-holder
himself, for various reasons, which he had explained on more than one occasion)
upon the success which had attended the labours of the office, to express his entire
confidence in its stability, and his belief that the concluding part of the Report would
be fully realised before many years had passed over their heads (cheers)-namely,
that the "Gresham" would become one of the largest and most influential institutions
in that great city, where there were so many of the kind. He begged most cordially
to second the motion (Loud cheers).
The CHAIRMAN rose and said they would be glad to hear the contents of a letter
which he had received from MR. WILLIAM SMEE, accountant-general of the Bank of
England, one of the Trustees of the society.
Brighton, 9th October, 1850.
MY DEAR SIR,-I beg to return my thanks for your courtesy in allowing me to
peruse the Report to be presented to the general meeting to-morrow.
Not being in London I regret that I shall not be able to attend, but I cannot
refrain from congratulating the directors on the proud position to which their activity
and enterprise have already raised the society. Considering the large amount of

26
GRESHAM LIFE ASSURANCE SOCIETY.
business, the expenses appear extremely moderate; and I am glad to find that the
directors have avoided excessive advertising, and other expenses of a purely spe-
culative character.
On the favourable Report of this year, it is reasonable to expect that the society's
shares will form a profitable investment, and I shall be glad to add to my present
allowance, if the directors can spare me a few more.
Hoping every year will produce increased prosperity.
I remain, my dear Sir,
Very faithfully yours,
WILLIAM SMEE.
WILLIAM TABOR, ESQ.,
Chairman of the Gresham Life Assurance Society.
The Report was unanimously adopted, amidst loud and general cheering.
:
MR. BRITTEN (a director) then moved a vote of thanks to the auditors:-
PROFESSOR DAVIES, F.R.S.; GEORGE H. LADBURY, ESQ.; GEORGE LOWE, ESQ.,
F.R.S.; THOMAS PERRY, ESQ. He said they had devoted much time to an ex-
amination of the monetary affairs of the office. They had minutely scrutinized the
books, and had proved every calculation, taking, very properly, nothing for granted.
Whilst in the hands of such gentlemen they might rest satisfied that their business
and their expenditure would be carefully examined and tested (hear). He would
not simply award them a vote of thanks, but move in addition that forty pounds be
given to them for their labours.
MR. JENKIN JONES (Actuary of the "National Mercantile"), cordially seconded the
motion as one of the policy-holders.
The motion was carried unanimously.
MR. THORNTHWAITE said, according to the constitution of the society, three
of the directors-MESSRS. DAVISS, WILLIAMS, and SOLLY,-retired by rotation.
Now, the pleasing duty devolved upon him of moving the re-election of those
gentlemen, for which they were all eligible. Should they be pleased to re-elect
them, they would find in the future, as during the past, that they were gentlemen
of great capacity and influence. They had done their duty thoroughly, and their
heart and soul, he might say, were in the institution. If re-elected he was sure no
exertions would be wanting on their parts to promote the increased success of the
office (hear).
DR. AITKEN Seconded the motion, and it was carried unanimously.
MR. WILLIAMS said: Gentlemen, for my brother directors and myself I beg to
offer our best thanks to you for re-electing us this day to our former position. I
trust we have deserved this mark of your confidence, and I assure you that our best
efforts will continue to be exerted towards the promotion of the increased success of
the office; and by the nature of that success we shall be content on a future occasion
to be judged. The directors are all most anxious to adopt every practical sug-
gestion which can, by possibility, tend to the advantage of the office (Loud cheers).
On the motion of MR. SOWELL (of the Bank of England) seconded by MR. WHITE-
LOCK - PROFESSOR DAVIES, F. R.S., and G. H. LADBURY, ESQ., were re-elected
auditors on the part of the Shareholders; and on the motion of MR. HILLMAN
(Actuary of the "STAR" Life and Fire Assurance Office), seconded by a Policy-holder
G. LowE, FR.S., and T. PERRY, ESQ., were re-elected auditors on behalf of the
Policy-holders.
&

GRESHAM LIFE ASSURANCE SOCIETY.
27
MR. LADBURY expressed his acknowledgments. He assured them that they
had not glossed over the accounts, but had checked and re-checked every item; and
every casting had been re-made, being anxious to show to the Shareholders and the
Policy-holders, that the accounts were kept properly and correctly. They had de-
voted sixteen hours to a minute examination of the accounts, so they could report
confidently that they were the bona fide and true accounts of the concern. The
books, he should mention, had been re-cast and proved upon a plan which had been
partly adopted by them for the 'occasion; and next year he would promise that the
accounts would be placed before them in a way which would obviate the asking of
unnecessary questions on the balance-sheet.
DR. AITKEN moved, and MR. KING seconded, a cordial vote of thanks to the
Directors for their exertions during the past year.
MR. SOLLY said:-I have great pleasure in acknowledging on the part of the
Directors the vote of thanks which you have done us the honour of awarding. We
have now the two-fold satisfaction of knowing that we have done our duty, and that
it is acknowledged and appreciated by you. We shall, I assure you, not fail in our
endeavours, nor lose any opportunity to further the great objects of this society; and
I confidently trust that those exertions will realise the visions of our most sanguine
friends and supporters (Loud cheers).
MR. DAVISS next moved a vote of thanks to the medical referees and legal officers.
No one who looked over the Annual Report could fail to be struck with the few
deaths that, bearing in mind the nature of the business transacted by the office, and
the number of lives assured, had occurred during the two years which the office had
been in existence (cheers). The medical officers had displayed great judgment and
discrimination in extracting the good lives from the bad. In an office based on the
principle of the "Gresham," of assuring the lives of persons rejected by other offices
because they were not in the full state of health, the functions of the medical ad-
visers were most important. It was, therefore, pleasing to know that they had the
most efficient services in this respect. He was very happy to find that as yet they
had but little occasion to make use of the advice of the legal officers (laughter),
but he had no doubt, whenever it were required, it would be found altogether
efficient (hear).
The motion was carried by acclamation.
MR. ALFRED SMEE, F.R.S. (the principal medical officer of the society) said:
Gentlemen, on behalf of myself and the numerous body of referees connected with
this office in different parts of the country, I beg to thank you for the honour
you have conferred upon us in agreeing to the vote of thanks which has just been
carried. No doubt you expect me, in acknowledging the compliment, to say some-
thing with respect to the lives assured in this office. I have great pleasure in
stating that, out of the large number assured, I can give a very excellent account
(hear, hear). I am delighted to find that the majority of the policies are upon good
lives, and of that majority a considerable portion are in life assurance language
known as "first class" lives (cheers). With regard to the persons assured in the
Gresham," I may say that we have persons of all classes and in all positions of
society. We have members of the Legislature; and we may begin with the duke,
and go down to the country squire and small tradesman (hear, hear). We have also
the bishop and a number of gentlemen connected in various capacities with the
numerous religious sects. We have also members of the legal profession; for we
have the judge, barristers, solicitors, and others connected with every department
of the law. We have merchants also; and, indeed, as I have said, persons in every
class of life. Indeed, our risks are distributed among every grade of society. Not

GRESHAM LIFE ASSURANCE SOCIETY.
only have we policies amongst all classes of society, but they are distributed, not in
London alone, but in all parts of Great Britain; and I am glad to tell you that we
have but few policies in Ireland (Loud cheers, and laughter). Of the lives assured,
I may briefly state that the majority are of the first class-that the whole of the
lives are exceedingly good-and that those in the "declined" branch are as good as
we have any reason to expect for lives of that character (Loud cheers.) A feeling is
very prevalent among the intelligent body of gentlemen known as actuaries, that
declined" lives are, on the whole, as good as average lives. Now, I have no
hesitation in pledging my reputation that the mortality among "declined" lives
will exceed the mortality among healthy lives. Perhaps you may think the
directors too cautious in only accepting assurances to the amount of about £400,000,
out of proposals for the assurance of nearly a million; they have, however, done so
in the firm belief that your interests would not have been served had they adopted
a contrary course. I can only record my opinion that the lives the directors have
thought fit to exclude, it would not have been safe for them to have accepted, and I
am glad to find that the "declined" lives that have been accepted are but a little
below the average. On behalf of myself and my colleagues, I beg to again return
The legal officers
you our sincere thanks for the honour you have done us.
interested in the latter part of the motion must return thanks for themselves
(cheers.)
On the motion of MR. LADBURY, seconded by MR. WILLIAMS, a vote of thanks
was awarded to MR. JENKIN JONES, the actuary consulted by the society.
MR. JENKIN JONES, in returning thanks, said that for his part he must express
himself to be disappointed, inasmuch as he had expected that the greater part of the
business transacted would have been on declined lives, whereas it would appear that
the directors decline all but the best of the declined lives, and accept in the majority
of cases first class lives only.
MR. TYLER (a director), proposed a vote of thanks to MR. T. A. POTT, their
excellent secretary, for the very able manner in which he had conducted the
business of the office (cheers). He need hardly remind them how much labour and
anxiety the increased business must have caused MR. POTT; but he was perfectly
heedless of the quantity of labour required of him, so long as he thereby promoted
the welfare of the institution, in which he was ably seconded by the other efficient
officers of the society (hear.) The vast amount of business they had transacted
showed clearly that he was possessed of great zeal and activity, and had left nothing
undone which could promote the increased success of the "Gresham" Life Assurance
Society (hear, hear).
The motion was seconded by MR. JOHN KING, and carried by acclamation.
MR. POTT thanked them very sincerely for the kind compliment they had been
pleased to pay to him and the other executive officers of the society. During the past
year he had used his best exertions to further the success of the office, and he assured
them that this additional mark of their confidence and approval would stimulate
him to renewed exertions in the future (cheers).
A vote of thanks was then passed to the Chairman, who briefly expressed his
acknowledgments, and the meeting separated.

WESTERN LIFE ASSURANCE SOCIETY,
.
SIR,
3, Parliament Street, London,
1851.
:
The many important purposes and principles of Life Assurance.
are now so well understood, that I- presume it is unnecessary to enter into any
details of its merits, but simply to beg the favour of your perusal of the
Prospectus of THE WESTERN LIFE ASSURANCE SOCIETY, and to direct your
attention to the many excellent plans, which it offers for granting ASSURANCES,
ENDOWMENTS, and ANNUITIES, and the very favourable terms, as to the mode of
payment of Premiums, upon which they can be effected. Being guaranteed by
a most respectable Proprietary, no Office can hold out greater advantages.
I shall be happy to give you any further information you may
desire, and should you wish to effect an Assurance upon your own life, or that of
another, or to make a proposal under any of the Tables, you will be furnished
with the necessary Forms (gratis) on application either to the Office or any
of our Agents.
I beg to call your attention to the Bonus recently declared and awarded
to Policies effected on the participating scale; and I have much pleasure in
adding, that we have most satisfactory evidence that the success of the past
years of this Society is still continuing, and that it seems likely to increase.
I remain, SIR,
Your obedient Servant,
ARTHUR SCRATCHLEY, M.A.,
Actuary and Secretary.
WESTERN LIFE ASSURANCE AND ANNUITY SOCIETY,
3, PARLIAMENT STREET, LONDON.
INSTITUTED A.D. 1842.
DIRECTORS.

WESTERN
ASSURANCE & ANNUITY SOC
LIFE
康
​DISI
SOCIETY
PARLIAMENT STREET · LONDON
FOR THE
ASSURANCE OF LIVES
IN EVERY STATION
HENRY E. BICKNELL, Esq.,
WILLIAM CABELL, Esq.,
28, Upper Bedford Place.
Newington-place, Surrey.
THOS. SOMERS COCKS, Jun. Esq., M.P. Charing Cross.
-
GEORGE HENRY DREW, Esq.,
WILLIAM EVANS, Esq.,
WILLIAM FREEMAN, Esq.,
FRANCIS FULLER, Esq.,
JOSEPH HENRY GOODHART, Esq.,
THOMAS GRISSELL, Esq., Palace-yard,
JAMES HUNT, Esq.,
- 28, Parliament-st., Westminster
Chesham-street, Belgrave-square
Millbank-street.
29, Abingdon-street.
Upper Tooting.
Westmr. & Norbury Park, Surrey.
31, Parliament-street.
JOHN ARSCOTT LETHBRIDGE, Esq., Greenwich Hospital:
EDMUND LUCAS, Esq.,
JAMES LYS SEAGER, Esq.,
JOHN B. WHITE; Esq.,
JOSEPH CARTER WOOD, Esq.,
-
Millbank-street.
· Millbank.
Millbank-st., and Swanscombe
- Artillery-place, Westminster.
TRUSTEES.
WILLIAM WHATELEY, Esq., Q.C.
L. C. HUMFREY, Esq., Q.C.,
GEORGE DREW, Esq.,
ORMUS BIDDULPH, Esq.,
JOHN FREEMAN, Esq.,
-
·
Great George-st., Westminster.
Great Queen-st., Westminster.
Guildford.
AUDITORS.
Charing-cross:
Millbank.
OF LIFE.
PHYSICIAN.
JOHN BAZLEY WHITE, Jun., Esq., Tulse Hill.
CONSULTING COUNSEL.
SIR WILLIAM PAGE WOOD, M.P., SOLICITOR GENERAL,
8, Stone-buildings, Lincoln's Inn.
CONVEYANCING
SAMUEL JAY, Esq.,
WILLIAM R. BASHAM, M.D., 17, Chester-street,
Grosvenor-place.
SURGEONS.
ALFRED LEGGATT, Esq., Ebury-st., Eaton-square.
GEORGE D. POLLOCK, Esq., Grosvenor-street,
Grosvenor-square.
COUNSEL.
- 10, Old Square, Lincoln's Inn.
BANKER S.
Messrs. COCKS, BIDDULPH, and Co., Charing Cross.
SOLICITOR.
J. C. LETHBRIDGE, Esq., 25, Abingdon-street,
Westminster.
ACTUARY AND SECRETARY.
ARTHUR SCRATCHLEY, Esq., F. R. A S., F.C.P.S.
A Board of Directors meets every TUESDAY at Two o'clock, but Assurances may be effected
on any other day, by application to the Actuary.
All necessary Forms, with every information as to the mode of effecting Assurances, may
be obtained, either by letter, or personal application to the ACTUARY, No. 3, Parliament
STREET, LONDON, or from any of the Society's Agents in the Country.
WESTERN LIFE ASSURANCE AND ANNUITY SOCIETY.
BONUS
DECLARED AT THE FIRST DIVISION OF PROFITS,
31st December, 1849.
A VALUATION of the Society's Assets and Liabilities was made at the close of its
first financial period, on the 31st December, 1849; and, after setting aside an ample
reserve fund, a Bonus was allotted to the Assured out of their share in three-fourths
of the net profits. The result is highly satisfactory; and, when the moderate rates of
premium charged by this society are compared with the very high payments usually
required for the same amount of Policy, the Bonus here allotted will be found to be
very advantageous.
The following Specimens will serve as illustrations of this point:-
Original Amount
Annual Premiums.
Assured.
Bonus.
Amount now
Assured.
£.
£.
S. d.
£.
S.
d.
£.
S.
જેં
d.
A. B. 1842, age 23
2,000
39
15
0
137
3 8
2137
3 8
C. D. 1842, age 34
1,000
26
15 0
75 15
6
1075 15 6
E. F. 1843, age 26
3,000
64
14
6
185
2 0
3185
2 0
&c.
&c.
&c.
&c.
&c.
A second Division of Profits will take place at the close of the year 1854, and the
attention of the Public is invited to the Tables and peculiar advantages offered to
Assurers by this Society.
[See Pages 4, 5, 6, 7, Prospectus.]
SPECIMEN
OF
RATES OF PREMIUM FOR ASSURING £100,
(WITH A SHARE IN THREE-FOURTHS OF THE PROFITS).
Age.
£.
d.
Age.
17
1 14 4
32
~
£. S. d.
2 10 8
22
1 18 8
37
૭
2
18 6
27
2 4 5
42
3 8 2
&c.
&c.
VALUABLE PRIVILEGE.
Policies effected in this Office do not become void, through temporary difficulty in
paying a Premium, as permission is given, on application, to suspend the payment at
interest, according to the conditions detailed in the Prospectus.
Now ready, Price 10s. 6d., a Second Edition, with material additions.
INDUSTRIAL INVESTMENT & EMIGRATION.
BEING A
TREATISE ON BENEFIT BUILDING SOCIETIES,
AND ON
THE GENERAL PRINCIPLES OF LAND INVESTMENT
EXEMPLIFIED
IN THE CASES OF FREEHOLD LAND SOCIETIES, BUILDING COMPANIES, &c.,
TO WHICH ARE ADDED
REMARKS ON THE APPLICATION OF LIFE ASSURANCE AND THE TONTINE PRINCIPLE, WITH THE
FIDELITY AND OTHER GUARANTEE SYSTEMS TO THE PURCHASE OF FREEHOLD PROPERTY AT HOME,
BENEFIT
OR IN THE FORMATION OF
EMIGRATION AND COLONIZATION SOCIETIES,
WITH
AN APPENDIX ON THE DOCTRINE OF COMPOUND INTEREST.
BY
ARTHUR SCRATCHLEY, M. A.,
Actuary to the Western Life Assurance Society.
ANALYSIS OF THE CONTENTS.
Preliminary Remarks to Second Edition.
CHAPTER 1. Introductory Remarks.
PART I.
2. On the Nature of the Operations of Compound Interest.
3. On Benefit Building Societies as at present constituted.
4. On Permanent Building Societies.
5. The Practical Management of a Building Society.
6. The Balance Sheets of a Building Society.
7. Rules for a Permanent Building and Investment Society.
8. On Life or Fidelity Assurance applied to Building Societies.
9. The Act for the regulation of Benefit Building Societies.
with observations and legal decisions.
PART II.
CHAPTER 1. Freehold Land Societies.
2. Building Companies and Suburban Villages-Remarks on the Rural Districts.
3. Tontine Associations.
4. Freehold Life Assurance-Application to the extension of Emigration.
5. Benefit Emigration Societies-Draft Rules for the same.
6. Appendix on the Doctrine of Compound Interest, Tontines, Savings' Banks, Deposit Life
Assurance, &c.
7. Practical Tables for Benefit Building Societies and other Industrial Associations.
In preparation, by the same Author,
A SHORT TREATISE ON THE FORMATION OF FRIENDLY SOCIETIES,
Under the New Act of Parliament (1850) relating thereto; and Observations upon the
Amendments necessary for the better working of existing Societies; with Rules, Tables, and
an Appendix on Life and General Assurance.
LONDON: JOHN W. PARKER, 445, WEST STRAND.
K.-21. 6. 51.

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A guide to the for-
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Title A guide to the formation and management of friendly societies for assurance, investment,
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