AN ADDRESS 
 
 EROM 
 
 THE PRESIDENT AND DIRECTORS 
 
 THE PENNSYLVANIA COMPANY 
 
 FDR INSURANCES ON LIVES AND GRANTING ANNUITIES*, 
 
 TO THE 
 
 INHABITANTS OF THE UNITED STATES, 
 
 UPON T1IE SUBJECT OF 
 
 THE BENEFICIAL OBJECTS OF THAT INSTITUTION 
 
 PHILADELPHIA: 
 
 PRINTED JiY i. MAXWELL, FOR THE COMPANY. 
 
 US14< 
 
36%,3 
 
ADDRESS, &c* 
 
 Fellow Citizens, 
 
 Among the various modes of alleviating the mis¬ 
 fortunes and calamities of life, which have been adopt¬ 
 ed by the inhabitants of Europe, none has more deser¬ 
 vedly engaged the attention of the enlightened and 
 benevolent, than the establishment of institutions for in- 
 surances on lives and granting annuities . In Great 
 Britain especially has this subject been amply studied 
 and pursued, and there have the benefits resulting from 
 the most laudable exertions, been most extensively dis¬ 
 played. Innumerable are the instances wherein families 
 and individuals enjoy the comforts or the affluence of 
 life, who, without the aid of such establishments, would 
 have been reduced to want. In America too, instances 
 are within our knowledge, in which widows and children 
 have derived a respectable subsistence from the same 
 source, owing to the wise and prudent precautions of 
 their husbands or fathers, and have thus been rescued 
 from poverty and distress. But in these cases resort 
 has been had to the institutions of England, because, 
 in our own country, no such associations existed. 
 
 The want of a company in the United States, for in¬ 
 surances on lives and granting annuities, has been long 
 experienced, and it is therefore with no small degree of 
 satisfaction, that the existence of such an institution i$ 
 now announced. 
 
4 
 
 The object of this address is to disseminate through¬ 
 out the Union, in as concise a manner as the subject 
 will admit, some explanation of the objects and views 
 of this institution, in order that that portion of our fel¬ 
 low citizens, whose opportunities or acquirements have 
 not enabled them to become acquainted with the nature 
 of life insurances and annuities, may have some know¬ 
 ledge of their beneficial effects. We do not wish to 
 appear as attempting to instruct those who are already 
 acquainted with these subjects, but we most respectful¬ 
 ly invite all such to assist us in the circulation amongst 
 their less informed neighbours, of that kind of intelli¬ 
 gence, which may lead to the permanent benefit of them ¬ 
 selves and of the institution. 
 
 “ The Pennsylvania Company for insurances on 
 lives and granting annuities”* was incorporated with a 
 capital of half a million of dollars , by an act of the legis¬ 
 lature of Pennsylvania, passed on the 10th day of 
 March, 1812. At that period some untoward circum¬ 
 stances, amongst which was the expectation of a war, 
 depressed, for the moment, the disposition of capitalists 
 to embark in new enterprizes; and the subsequent de¬ 
 claration of hostilities against Great Britain, rendered it 
 advisable to withhold, for a time, any extraordinary 
 exertions. In the spring however of 1813, the subject 
 was resumed; the general sentiment was in favour of 
 the institution, and the whole capital stock was in a few 
 days subscribed. It was not however deemed advisable 
 to call in the whole capital, inasmuch as few modes for 
 the productive employment of large sums of money 
 presented themselves, and inasmuch as such a measure 
 
 * For the charter of incorporation, Which is perpetual, see appendix: 
 
5 
 
 could not be requisite until the company had entered 
 into engagements which would call for additional secu¬ 
 rity. Twenty per cent. was considered as amply suffi¬ 
 cient to meet any extent of responsibilities which would 
 probably be incurred within the first two or three years, 
 and the sum of one hundred thousand dollars , was con¬ 
 sequently collected. As the business of the company 
 progresses in extent, the remaining instalments of the 
 capital stock will be called for, and thus will additional 
 security be afforded as fast as it is required. This 
 measure, whilst it is doing justice to the stockholders, 
 the directors are persuaded will prove equally satisfac¬ 
 tory to those who may transact business with the com 
 pany; particularly when it is recollected that the asso¬ 
 ciations for similar objects in England, many of which 
 were established without capitals , upon the principle of 
 mutual assurance , have been generally prosperous. 
 
 Having thus shown, as we suppose, that the insti¬ 
 tution is founded upon a solid and responsible basis, 
 possessing a capital adequate to meet all the engage¬ 
 ments for the performance of which it may at any time 
 hereafter be pledged, it may now be proper to specify 
 the particular species of contracts, into which the com¬ 
 pany is now prepared to enter, accompanied by an ex¬ 
 planation of the nature of each, for the information of 
 those who are unacquainted therewith. 
 
 First, The company will make insurances on lives. 
 
 Seconly, Grant annuities; and, 
 
 Thirdly, Contract for reversionary payments; in 
 which tatter will be included endowments for children. 
 

 OF LIFE INSURANCES. 
 
 An insurance on a life is a contract whereby an in¬ 
 dividual or company, in consideration of a certain pre¬ 
 mium, undertakes to pay a stipulated sum of money, 
 in case the person whose life is insured, should die with¬ 
 in the time expressed in the policy. Now an insurance 
 may be made for one or two or any other determinate 
 number of years , or for the whole continuance of life y 
 as the parties may agree; and the premium charged will 
 bear a proper proportion to the risk. The premium may 
 be made payable in annual instalments, or it may be paid 
 in one gross sum, at the time of making the insurance. 
 The sum insured too, instead of being paid in one gross 
 sum at the death of the person, whose life is insured, 
 may be made payable in animal portions during the life 
 of the person for whose benefit the insurance is made. 
 
 The circumstances which have given rise to life in¬ 
 surances, are those accidents and misfortunes to which 
 human nature is so generally exposed, and they have 
 been instituted for the purpose of rescuing from the 
 afflicting severities of poverty, families and individuals 
 who depend for support upon some relative or friend, 
 of whose protection they may by death be depriveci 
 But perhaps the benefit of this kind of contract may 
 best be illustrated by a few familiar examples. 
 
 1st. A. is a person, who in the pursuit of his busi¬ 
 ness is obliged to leave home upon a distant journey or 
 voyage. He has a family dependent upon his exertions 
 for support, who, should he die before his return, would 
 be without the means of subsistence. 
 
7 
 
 2d. B. is a merchant, a mechanic, or farmer, who 
 maintains his family by the annual or daily produce of 
 his industry. His expenses are numerous, and he is not 
 able, with all his endeavours, to provide the means for 
 the comfortable subsistence of his family in case of his 
 early death. But he sees a reasonable prospect of being 
 able, should his life be spared for three, five, seven or 
 more years, to amass an estate that will render their 
 situation comfortable after his decease. 
 
 3d. C. is a public officer or clerk in some perma¬ 
 nent employment, who receives a salary sufficient for 
 his support, but has no resources or expectation for his 
 family after his death. 
 
 All these men perhaps are so circumstanced that by 
 prudence or economy, they can save from their annual 
 revenues, without feeling the privation, a sufficient sum 
 to pay such a premium as would entitle their families to 
 receive after their death, an amount sufficient, or an 
 annuity adequate, to maintain them with comfort and 
 perhaps independence, and all such men should em 
 brace without hesitation the opportunity now offered 
 them. Again, 
 
 4th. D. is a man who enjoys a liberal or competent 
 income from the estate of his wife, and he is aware that 
 at her death he will be deprived of his usual, perhaps 
 only means of support. Prudence will dictate to this 
 man to effect an insurance on the life of his wife, so 
 that after her death he will have another resource from 
 which he may derive his subsistence. 
 
 5th. E. is a man who enjoys an income from an es ¬ 
 tate during his life , and is desirous of borrowing money 
 for some speculation or other purpose, but can find no 
 
8 
 
 one who is willing to lend it upon the security of his. 
 estate, on account of the uncertainty of the continuation 
 of his life. But he can accomplish his design by caus¬ 
 ing an insurance to be made upon his life, which will 
 entitle the lender to recover from the insurers the 
 amount of his debt, in case it shall not have been repaid 
 before the death of the borrower. 
 
 Instances may sometimes occur wherein the con¬ 
 tinuance of a person’s life is of serious importance to 
 another, who is not, as in the case of a family, depend¬ 
 ent on him for support. A copartner in trade is fre¬ 
 quently interested to a large amount in the duration of 
 his associate’s life; and we recollect one instance in 
 which a merchant had 30,000 dollars dependent upon 
 the safe return of another from a distant voyage, whose 
 life was in consequence thereof insured. But there are 
 cases in which this species of contract will be likely to 
 prove highly advantageous to our fellow citizens in the 
 humble walks of life. Insurances may be made for 
 small sums, even though they be only sufficient to de¬ 
 fray the funeral expenses of a person who may perhaps 
 die in such a state of poverty and distress, as not to 
 leave a sufficiency for that necessary duty, or for the 
 temporary relief of their families under an unexpected 
 bereavement. 
 
 It must be evident that life insurances , like all other 
 contracts of a similar nature, are founded upon calcula¬ 
 tions of chances; and that the premiums charged there¬ 
 on, must depend upon the age, state of health, occupa¬ 
 tion and residence of the person insured. The life of 
 a young man will be insured for less than that of an old 
 inan: a healthy person, for less than a sickly one: a man 
 
9 
 
 pursuing a profession of a safe kind, for less than one 
 exposed to dangers; and a person resident in a healthy 
 country, for less ihan one who lives in a sickly climate 
 or situation. 
 
 A long and studied attention to the bills of mortali¬ 
 ty in England, and elsewhere, have enabled writers and 
 calculators upon the subject of life insurance, to form 
 tables by which the chances of living to any certain pe¬ 
 riod amongst a certain number of healthy persons of the 
 same age, are so well ascertained, that any one may see 
 at once, what premium would be considered as equiva¬ 
 lent to the risk sustained by a company, who would in¬ 
 sure his life for any given number of years. Some of 
 these tables are to be found in the appendix to this 
 pamphlet, to which we beg the serious attention of the 
 reader, with a request, that should he not be able to com¬ 
 prehend them, he will inquire for an explanation from 
 some of his neighbours who are better informed. 
 
 OF ANNUITIES. 
 
 An annuity is an allowance payable annually, half 
 yearly or quarterly, as the case may be, by an individual 
 or company during the lifetime of a person , in con¬ 
 sideration of having received some gross sum from that 
 person or some other. An annuity may be either im¬ 
 mediate or deferred. An immediate annuity is where 
 the payment commences immediately after the contract. 
 A deferred annuity is where the payment does not com¬ 
 mence until after a specified length of time, as 3, 5, or 
 7 years; or until after the occurrence of some particular 
 event, as, for instance, the death of some other person. 
 Annuities may be also contracted for, payable during the 
 
 B 
 
10 
 
 continuance of two or more joint lives, as to a man, his 
 wife and children, and to the survivors of them. 
 
 The object for which annuities were instituted, was 
 to enable persons not having a sufficient income to 
 maintain themselves, or not being able to pursue their 
 usual occupations for support, to provide against the 
 infirmities of old age, inability to labour, or some other 
 mischance which might reduce them to want. But the 
 utility thereof can, possibly, be best exemplified, as in 
 the former case of life insurance, by stating a few of 
 the instances which most frequently come within our 
 notice. 
 
 1st. A. is a single man, who from age or infirmity 
 is no longer capable of procuring a maintenance, but is 
 possessed of some property, the income of which is not 
 adequate to his support. Every year he consumes a 
 portion of his principal, and he evidently perceives that 
 should his life be prolonged for a number of years he 
 will expend all his substance, and thus be reduced to 
 absolute want. This man, by appropriating in time 
 what he possesses to the purchase of an annuity, may 
 perhaps find that his income may be increased to such 
 an amount as will render his future days comfortable, 
 and free him from all those anxieties to which, in his 
 prior situation, he was exposed. Again, 
 
 2d. B. is a man who possesses a revenue sufficient 
 to support him with economy, but as he has no relatives 
 to provide for, is disposed to employ the whole of his 
 estate in an annuity, in order that he may enjoy the su¬ 
 perfluities of life, or devote a larger share of his income 
 to purposes of charity. A reference to the tables an¬ 
 nexed will show that this man may considerably in- 
 
ii 
 
 crease, perhaps do more than double his resources, and 
 at the same time remove all his anxiety respecting th.e 
 employment of his capital. 
 
 3d. C. and D. are a man and his wife in the decline 
 of life, without children to whom they can look for as- 
 sistance in their latter days, situated we will suppose in 
 point of circumstances, like either of those described 
 in the two former cases. By employing their property 
 in the purchase of an annuity payable during the lives 
 of both, and after the death of one, during the life of 
 the surviver, they can perhaps render their situation in¬ 
 dependent or affluent. 
 
 4th. E. is a person having dependent upon him 
 some relative or friend, who, from infirmity, old age, or 
 intemperate habits, is incapable of supporting himself, 
 and who after the death of his patron will be reduced to 
 the most abject poverty. He is desirous of devoting a 
 portion of his wealth to provide for the permanent sub¬ 
 sistence of the object of his benevolence, and finds that 
 he can effectually accomplish his design by procuring 
 an annuity for him. All the preceding cases, it will be 
 observed, are immediate annuities . We shall now ex¬ 
 emplify a few that are deferred . 
 
 5th. F. is a man in the present possession of proper¬ 
 ty, who sees .before him a reasonable prospect, by his 
 exertions and industry, of maintaining himself and 
 family for some years to come: but he is desirous to 
 guard against misfortunes or inability which might 
 thereafter assail him, and deems the best mode of attain¬ 
 ing his object to be, to purchase an annuity on his own 
 life, or the lives of himself and wife, and the surviver, 
 to commence at the distant day which he contemplated: 
 or, he is persuaded that as long as he lives he can main- 
 
12 
 
 tain his family, but is desirous of providing for his wife 
 after his death, which he is completely enabled to do by 
 the purchase of an annuity to be paid to his wife during 
 her life and to commence at his death, whenever that 
 should occur. 
 
 These are amongst the principal instances in which 
 the purchase of annuities may be beneficial to individuals 
 and families; and we doubt not that many will take ad¬ 
 vantage of the opportunity now afforded them by the 
 establishment of the Pennsylvania Company. It need 
 scarcely be remarked that from the nature of this con* 
 tract it is one which, like insurances, depends on calcu¬ 
 lations of chances. A certain number of annuitants will 
 die before they have lived to the period of life upon 
 which the calculation is founded, which affords to the 
 company an average profit adequate to meet the losses 
 which they will sustain by others living beyond the 
 time contemplated. 
 
 We shall now proceed to an explanation of the third 
 branch of business to which the institution extends its 
 views. 
 
 OF REVERSIONS. 
 
 A reversionary payment is that sum which a person 
 in consideration of a certain amount paid by him, or 
 some other, to an individual or company, will be entitled 
 to receive at a future day, provided he should live so long . 
 This species of contract rests upon the principle of a 
 deferred annuity , but differs from it in the circumstance 
 ot its being payable in a gross sum instead of periodical 
 instalments. It is evident, therefore, that the same in¬ 
 stances which were enumerated in speaking of deferred 
 
annuities will apply to reversions, if, instead of annual 
 payments, a gross sum, equivalent thereto, should be 
 stipulated. But we will quote a few examples of what 
 are called endowments . 
 
 A. is a man of moderate fortune, who has a number 
 of young children, neither of whom, after his death, will 
 have a sufficiency for support. He is, therefore, anxious 
 to provide respectable marriage portions for his daugh¬ 
 ters, and capitals for his sons wherewith they may enter 
 into business. If he be a merchant, he may unexpect¬ 
 edly, by the casualties of trade, be reduced to indigence; 
 but he can, without inconvenience to his accustomed 
 mode of living, annually devote a portion of his wealth 
 to the purpose of securing to one or more of his chil¬ 
 dren, should they live to the age of eighteen or twenty- 
 one, a liberal establishment. This is to be effected by 
 the purchase of a reversion dependant on their lives; 
 and although he would be a loser should the children 
 die before the age specified, yet it is a loss which he 
 could reasonably afford, inasmuch as he would no longer 
 have to incur the expenses of their education and sup¬ 
 port. 
 
 B. is a mechanic, a farmer, or other person, who 
 maintains a numerous family of children by his indus¬ 
 try, but who sees no prospect of assisting them in 
 life when they arrive at full age. He. would like to give 
 his sons small stocks to enable them to begin their 
 trades, and to his daughters a sufficiency to purchase 
 furniture towards house-keeping. He can spare a small 
 sum from his annual earnings, whilst his children are 
 young, and by appropriating it to the purchase of a re¬ 
 version on the life of each, completely effects his object. 
 
14 
 
 Prudent wives too, who have prodigal and dissipated 
 husbands, might, from the wreck of their property, by 
 careful management, provide in this manner for their 
 own and their children’s future comfort. 
 
 Having now in a plain and concise manner, adapted, 
 as we suppose, to the comprehension of most readers, 
 explained the nature of life insurances, annuities and re¬ 
 versions, and the extensive advantages which may re¬ 
 sult from the establishment of this institution, it remains 
 for us to say something concerning the rates which will 
 be charged by the company upon the transaction of their 
 business. 
 
 OF THE RATES. 
 
 As it is of the utmost importance to the permanent 
 stability of the institution, as it respects the interest of 
 the present and future stockholders, as well as that of 
 present and future annuitants and persons assured, that 
 those who now have the direction of its affairs should 
 act with proper foresight and prudence in determining 
 the rates to be demanded for premiums and annuities, 
 it may be useful to hear what has been said in other 
 countries on the subject by wise and experienced men, 
 and especially to attend to the counsel which was given 
 many years ago, by the Reverend Dr. Richard Price, on 
 a similar occasion, to the society for equitable assuran, 
 ces on lives and surviverships in London, where he ex¬ 
 presses himself as follows: viz. 
 
 First. They should consider what distress would 
 arise from the failure of such a scheme in any future 
 time, and what dangers there are which ought to be 
 carefully guarded against in order to secure success. I 
 
15 
 
 have alreadv more than once observed that those per¬ 
 sons will be most for flying to these establishments for 
 insurances who have feeble constitutions, or are sub¬ 
 ject to distempers which they know render their lives 
 particularly precarious; and it is to be feared that no 
 caution will be sufficient to prevent all danger from 
 hence.” 
 
 Again: “ In matters of chance, it is impossible to 
 say that an unfavourable run of events will not come*, 
 which may hurt the best contrived scheme. The cal¬ 
 culations only determine probabilities , and agreeably to 
 these it may be depended on, that events will happen 
 on the whole . But at particular periods and in particular 
 instances, great deviations will often happen, and those 
 deviations, at the commencement of a scheme, must 
 prove either very favourable or very unfavourable. 
 
 “ But further. The calculations suppose that al! 
 the monies received are put out immediately to accumu¬ 
 late at compound interest. They make no allowance 
 for losses or for any of the expenses attending manage¬ 
 ment. On these accounts the payments to a society of 
 this kind ought to be more than the calculations will war¬ 
 rant, and the interest money ought to be reckoned low. 
 Mr. Dodson, I find, has paid due attention to all this by 
 reckoning interest in his calculations for this society at 
 three per cent, and taking the lowest of all the known 
 probabilities of life, or those deduced from the London 
 bills of mortality. 
 
 “ Certainly a society that means to be a permanent 
 advantange to the public, ought always to take higher 
 rather than lower values, for the sake of rendering itself 
 
16 
 
 more secure, and gaining some profits to balance losses 
 and expenses.” Price, vol. ii. sec. 7. 
 
 Before Dr. Price’s time of writing these advices, 
 several associations of this kind in London, by trans¬ 
 acting business at too low rates, had involved themselves 
 “ embarrassments, so as to be obliged to discontinue 
 their business; but the society above named, to whom 
 they were addressed, by attending thereto, have pro¬ 
 gressed from that time to the present in uninterrupted 
 prosperity. 
 
 Their business has been so extensive that in 33 
 years, from January 1768, to January 1801, they made 
 83,201 insurances on single lives alone, which is more 
 upon an average than 2500 per annum. 
 
 The present Directors of “ The Pennsylvania Com- 
 pamf have duly considered this wise and prudent 
 counsel, advanced by a man eminently qualified there¬ 
 for, and especially as a due regard for his equitable and 
 cautious system has proved, by an experience of more 
 
 than forty years, so highly beneficial to a similar insti-. 
 tution. 
 
 Before the rates proper to be demanded can be 
 determinately fixed, it is necessary to ascertain the rate 
 of compound interest at which the Company will be 
 able permanently to improve their monies for a course 
 of fifty years to come, clear of all losses, by sums lying 
 at intervals unproductive for a week, a month or more 
 at a time, and also clear of all losses which might possi¬ 
 bly occur from insufficient securities taken from mort¬ 
 gagers or others. By the nature of such an institu¬ 
 tion, its contracts made at the present day, extend their 
 consequences and effects to distant times and to future 
 
17 
 
 generations. An annuity now purchased for a child of 
 tea years of age, might continue to be payable for 
 seventy or eighty years to come, and it is therefore of 
 the utmost importance, and to the interest of all con¬ 
 cerned, that the strictest caution should be observed 
 from the commencement, in order that annuitants and 
 persons assured should ever be impressed with a firm 
 conviction of the solid foundation of the institution, and 
 of its entire capacity to comply with all its engagements. 
 
 Impressed with these and other similar considera¬ 
 tions, the Directors are firmly of opinion that although 
 the legal interest of Pennsylvania is six per cent, they 
 will not be able to employ their capital and the money 
 received by them, permanently during states of peace 
 and war, as they may occur, at a higher rate than jive and 
 an half per cent . compound interest. Upon this datum 
 then, are their calculations founded; and they doubt not 
 that the reasonableness of their position will appear 
 manifest to all, who are in any wise conversant with the 
 employment of large sums of money. 
 
 With these remarks the Directors conclude their 
 address, respectfully soliciting the attention of all persons 
 into whose hands it may hill, and requesting them to 
 make its contents known to those of their friends and 
 neighbours, who are in a situation to be benefited by 
 the opportunities hereby afforded them. 
 
 c 
 
APPENDIX. 
 
 RULES OF THE COMPANY. 
 
 Every person desirous to make assurance with tlie 
 Company must sign a declaration by himself or agent, 
 setting forth the age, state of health, profession, occupa¬ 
 tion, residence, and other circumstances of the persons 
 whose lives are proposed to be assured: and also, in 
 case such assurance is made upon the life of another 
 person, that the interest which he has in such life is equal 
 to the sum assured. This declaration is the basis of 
 the contract between the Company and the person de¬ 
 sirous to make such assurance; and if any artful, false, 
 or fraudulent representation shall be used therein, all 
 claim on account of any policy so obtained, shall cease, 
 determine, and be void; and the monies which shall have 
 been paid upon account of such assurance shall be for¬ 
 feited to the use of the Company. 
 
 In like manner a declaration will be required from 
 all persons who apply for the purchase of an annuity or 
 reversion. No policy takes effect until the first pre¬ 
 mium be paid, and if any subsequent premium remains 
 unpaid after the time stipulated in the policy, such 
 policy becomes void; but if the defaulter shall, within 
 two calendar months after the time so stipulated (the 
 person on whose life the assurance was made being 
 then alive and in good health) pay the said premium, 
 together with the additional sum of ten per cent, upon 
 
20 
 
 such premium, then such policy is revived and con¬ 
 tinues in force. 
 
 AH claimants upon the decease of any person whose 
 life shall have been assured by the Company, must 
 make proof thereof by affidavit or certificate, and give 
 such further information respecting the same as the 
 board of directors shall think satisfactory. 
 
 The time for payment of claims occuring by death, 
 is within sixty days after proof of the death shall have 
 been made as aforesaid. 
 
 In case the more immediate purpose of an assurance 
 shall have ceased, and the owner of the policy shall be 
 minded to dispose of the same; or any person assured 
 by the Company, shall himself stand in need of that 
 assistance which was intended for his family, the Com¬ 
 pany will, upon application, become the purchasers of 
 such an interest at a fair price. 
 
 The policies of persons assured on their own lives 
 become void, if the assured die by their own hands, by 
 the consequences of a duel, or by the hands of justice. 
 
 The Company reserves to itself the right of making 
 any alterations which the particular circumstances of 
 applicants may in their opinion render expedient. 
 
 A charge of one dollar will be made for each policy 
 of assurance or bond for annuity, besides the premium 
 or computed purchase money. 
 
 The office of the Company is open daily between 
 the hours of 9 and 3 o’clock, at No. 72, South Second- 
 street, in the City of Philadelphia, where a committee 
 of the directors sit three times a week to consider and 
 decide upon the proposals which may be made to them. 
 
21 
 
 Letters directed to the President, post-paid, will be 
 speedily attended to, and answers given to any inquiries 
 which may be made, respecting the terms and rates upon 
 which the Company will transact business. 
 
 THE PRESENT DIRECTORS ARE, 
 
 President— 
 John Bohlen , 
 
 Joseph Peace , 
 
 John Claxton , 
 
 Jacob Sperry , 
 Cadwalader Evans , 
 
 Samuel Yorker 
 
 Joshua Longstreth , 
 Condy Raguet , 
 Charles N. Rancher , 
 John Welsh , 
 
 James Hemphill\ 
 
 Jeremiah Warder, jun, William Schlatter , 
 Actuary— Shoemaker, 
 
Sh 
 
 « 
 
 bn 
 
 < 
 
 1 
 
 2 
 
 ■3 
 
 4 
 
 5 
 
 6 
 
 7 
 
 8 
 
 9 
 
 10 
 
 11 
 
 12 
 
 13 
 
 H 
 
 15 
 
 16 
 
 17 
 
 18 
 
 19 
 
 20 
 
 21 
 
 22 
 
 23 
 
 24 
 
 25 
 
 26 
 
 27 
 
 28 
 
 29 
 
 30 
 
 31 
 
 32 
 
 33 
 
 34 
 
 35 
 
 36 
 
 22 
 
 TABLE, No. 1. 
 
 wing the expectation of life in several places . 
 
 Northampton, in 
 England. 
 
 Breslaw, in Silesia. 
 
 | Philadelphia, by the 
 Episcopal Church. 
 
 32.74 
 
 33.43 
 
 30.91 
 
 37.79 
 
 38.02 
 
 34.43 
 
 39.55 
 
 39.70 
 
 35.74 
 
 40.58 
 
 40.66 
 
 37.30 
 
 40.84 
 
 41.19 
 
 37.91 
 
 41.07 
 
 41.46 
 
 38.60 
 
 41.03 
 
 41.52 
 
 38.24 
 
 40.79 
 
 41.25 
 
 37.'88 
 
 40.36 
 
 40.86 
 
 37.50 
 
 39.78 
 
 40.40 
 
 37.12 
 
 39.14 
 
 39.S9 
 
 36.74 
 
 38.49 
 
 39.32 
 
 36.09 
 
 37.83 
 
 38.68 
 
 35.43 
 
 37.17 
 
 38.05 
 
 34.77 
 
 36.51 
 
 37.40 
 
 34.10 
 
 35.85 
 
 36 76 
 
 33.43 
 
 35.20 
 
 36.1 1 
 
 32.73 
 
 34.58 
 
 35.46 
 
 32.02 
 
 33.99 
 
 34.81 
 
 31.31 
 
 33.43 
 
 34.16 
 
 30.60 
 
 32.90 
 
 33.50 
 
 29 88 
 
 32.39 
 
 32.83 
 
 29.40 
 
 31.88 
 
 32.23 
 
 28.93 
 
 31.36 
 
 31.56 
 
 28.46 
 
 30.85 
 
 30.89 
 
 27 99 
 
 30.33 
 
 30.27 
 
 27.50 
 
 29.82 
 
 29.64 
 
 27.00 
 
 29.30 
 
 29.02 
 
 26.50 
 
 28.79 
 
 28.39 
 
 25.99 
 
 28.27 
 
 27.81 
 
 25.50 
 
 27.76 
 
 27.22 
 
 24.99 
 
 27.24 
 
 26.64 
 
 24.59 
 
 26.72 
 
 26.05 
 
 24.19 
 
 26.20 
 
 25.46 
 
 23.80 
 
 25.68 
 
 24.92 
 
 23.40 
 
 25.16 
 
 24.38 
 
 23.01 
 
 Philadelphia, by th< 
 Board of Health. 
 
 i 
 
 London, according 
 to Simpson. 
 
 London, according 
 ! to Price. 
 
 25.96 
 
 27.26 
 
 25.10 
 
 32.92 
 
 32.77 
 
 30.01 
 
 36.80 
 
 35.07 
 
 32.37 
 
 36.85 
 
 36.08 
 
 34.10 
 
 36.94 
 
 36.31 
 
 35.28 
 
 37.02 
 
 36.33 
 
 35.57 
 
 36.42 
 
 36.17 
 
 35.73 
 
 35.83 
 
 35.83 
 
 35.57 
 
 35.23 
 
 35.45 
 
 35.30 
 
 34.59 
 
 34.96 
 
 34.91 
 
 33.95 
 
 34.43 
 
 34.46 
 
 33.20 
 
 33.90 
 
 34.02 
 
 32.44 
 
 33.30 
 
 33.52 
 
 31.68 
 
 32.70 
 
 32.95 
 
 30.92 
 
 32.08 
 
 32.32 
 
 30.16 
 
 31.47 
 
 31.69 
 
 29.38 
 
 30.S6 
 
 31.11 
 
 28.60 
 
 30.24 
 
 30.53 
 
 27.82 
 
 29.62 
 
 29.95 
 
 27.04 
 
 29.00 
 
 29.37 
 
 26.25 
 
 28.44 
 
 28.78 
 
 24.57 
 
 27.88 
 
 28.26 
 
 25.19 
 
 27.30 
 
 27.73 
 
 24.67 
 
 26.74 
 
 27.20 
 
 24.14 
 
 26.24 
 
 26.67 
 
 23.61 
 
 25.73 
 
 26.14 
 
 23.08 
 
 25.22 
 
 25.60 
 
 22.55 
 
 24.71 
 
 25.07 
 
 22.01 
 
 24.21 
 
 24.60 
 
 21.48 
 
 23.76 
 
 24.12 
 
 20.93 
 
 23.32 
 
 23.65 
 
 20.65 
 
 22.87 
 
 23 17 
 
 20.40 
 
 22.44 
 
 22.70 
 
 20.16 
 
 22.00 
 
 22 23 
 
 19.95 
 
 21.57 
 
 21.76 
 
 19.76 
 
 21.15 
 
 21.30 
 
TABLE, No. I. —continued. 
 Showing the expectation of life in several places• 
 
 
 c 
 
 .aj 
 
 <u . 
 
 ■fj xi 
 
 2 
 
 X G 
 
 by the 
 
 alth. 
 
 to 
 
 .5 
 
 % A 
 
 to 
 
 .5 
 
 r 2 • 
 
 Age. 
 
 fl? 
 
 •5 M 
 
 00 
 
 c 
 
 i 
 
 .2 5 
 
 Jl 
 
 J-r'o 
 
 -ST2 
 
 o © 
 
 2f 
 
 C 
 
 O - 
 
 on, acco 
 
 to Price 
 
 
 o 
 
 a> 
 
 « 
 
 •3 2. 
 
 rt aS 
 
 ra © 
 
 rC n 
 
 pH 
 
 V ° 
 
 -a. 
 
 G 
 
 3 
 
 37 
 
 24.64 
 
 23.83 
 
 22.64 
 
 19.57 
 
 20.72 
 
 20.83 
 
 38 
 
 24.12 
 
 23.29 
 
 22.23 
 
 19.40 
 
 20.30 
 
 20.34 
 
 39 
 
 23.60 
 
 22.74 
 
 21.83 
 
 19.25 
 
 19.89 
 
 19.91 
 
 40 
 
 23.08 
 
 22.19 
 
 2 1.44 
 
 19.15 
 
 19.55 
 
 19 50 
 
 41 
 
 22.56 
 
 21.64 
 
 21.05 
 
 19.09 
 
 19.22 
 
 19.12 
 
 42 
 
 22.04 
 
 21.08 
 
 20.80 
 
 18.77 
 
 18.90 
 
 18.78 
 
 43 
 
 21.54 
 
 20.57 
 
 20.22 
 
 18.54 
 
 18 60 
 
 18.36 
 
 44 
 
 21.03 
 
 20.07 
 
 19.82 
 
 18.18 
 
 18.24 
 
 17.99 
 
 45 
 
 20.52 
 
 19.56 
 
 19.42 
 
 17.91 
 
 17.89 
 
 17.64 
 
 46 
 
 20.02 
 
 19.05 
 
 18.99 
 
 17.64 
 
 17.55 
 
 17.29 
 
 47 
 
 19.51 
 
 18.55 
 
 18.55 
 
 17.44 
 
 17.22 
 
 16.96 
 
 48 
 
 19.00 
 
 18.04 
 
 18.14 
 
 17.24 
 
 16.83 
 
 16.65 
 
 49 
 
 18.49 
 
 17.53 
 
 17.73 
 
 17.02 
 
 16.45 
 
 16 26 
 
 50 
 
 17.99 
 
 17.07 
 
 17.32 
 
 16.82 
 
 16.08 
 
 15.90 
 
 51 
 
 17.50 
 
 16.61 
 
 16.92 
 
 16.66 
 
 15.71 
 
 15.50 
 
 52 
 
 17.02 
 
 .16.16 
 
 16.52 
 
 16.31 
 
 15.36 
 
 15.20 
 
 53 
 
 16.54 
 
 15.71 
 
 16.13 
 
 15.97 
 
 15.00 
 
 14.79 
 
 54 
 
 16.06 
 
 15.26 
 
 15.75 
 
 15.64 
 
 14.70 
 
 14.39 
 
 55 
 
 15.58 
 
 14.77 
 
 15.40 
 
 15.33 
 
 14.30 
 
 13.92 
 
 56 
 
 15.10 
 
 14.28 
 
 15.04 
 
 14.97 
 
 13.9 1 
 
 13.46 
 
 57 
 
 14.63 
 
 13.78 
 
 14.68 
 
 14.62 
 
 13.53 
 
 13.00 
 
 58 
 
 14.15 
 
 13.29 
 
 14.35 
 
 14.31 
 
 13.16 
 
 12.53 
 
 59 
 
 1.3.68 
 
 12 80 
 
 14.04 
 
 14.00 
 
 12.81 
 
 12.08 
 
 60 
 
 13.21 
 
 12.31 
 
 13.75 
 
 13.71 
 
 12.48 
 
 11.71 
 
 61 
 
 12.75 
 
 1 1.81 
 
 13.48 
 
 13.44 
 
 12.16 
 
 11.35 
 
 62 
 
 12.28 
 
 11.32 
 
 13 04 
 
 13.06 
 
 1 1.75 
 
 10.93 
 
 63 
 
 11.81 
 
 10.83 
 
 12.60 
 
 12.68 
 
 1 1.36 
 
 10.51 
 
 64 
 
 1 1.35 
 
 10.35 
 
 12.17 
 
 12.25 
 
 10.98 
 
 10.10 
 
 65 
 
 10.88 
 
 9.86 
 
 11.70 
 
 11.82 
 
 10.62 
 
 9.71 
 
 66 
 
 10.42 
 
 9.37 
 
 1 1.23 
 
 11.41 
 
 10.27 
 
 9.33 
 
 67 
 
 9.96 
 
 8.89 
 
 10.76 
 
 1 1.00 
 
 9.95 
 
 8.97 
 
 68 
 
 9.50 
 
 8.41 
 
 10.30 
 
 10.60 
 
 9.65 
 
 8.63 
 
 69 
 
 9.05 
 
 7.93 
 
 9.83 
 
 10.21 
 
 9.3S 
 
 8.32 
 
 70 
 
 8.60 
 
 7.45 
 
 9.37 
 
 9.83 
 
 9.15 
 
 8.04 
 
 71 
 
 8.17 
 
 7.03 
 
 8.92 
 
 9.48 
 
 8.83 
 
 7.68 
 
 72 
 
 7.74 
 
 6.63 
 
 8.54 
 
 9.15 
 
 8.53 
 
 7.36 * 
 
24 
 
 TABLE, No. I. -CONTINUED. 
 
 Shouting the expectation of life in severed places. 
 
 
 g 
 
 at 
 
 v . 
 
 % 
 
 to 
 
 c 
 
 to 
 
 .S 
 
 
 
 jB 
 
 >» j- 
 -C 3 
 
 -Q ’e< 
 
 'H (3 
 
 
 Age. 
 
 hampto: 
 
 ingland 
 
 C» 
 
 G 
 
 g 
 
 Philadelphia, 
 Episcopal Ch 
 
 4 = 
 
 U'o 
 
 o o 
 
 8 a 
 
 84 £ 
 cin 
 
 >n, accoi 
 to Price 
 
 
 o 
 
 £ 
 
 "m 
 
 5 
 
 S 
 
 ”3 ° 
 
 '-3 « 
 pH 
 
 'S 2 
 
 o 
 
 J 
 
 a 
 
 s 
 
 73 
 
 7.33 
 
 6.25 
 
 8.16 
 
 8.84 
 
 8.28 
 
 7.07 
 
 74 
 
 6.92 
 
 5.90 
 
 7.75 
 
 8.47 
 
 8.07 
 
 6.69 
 
 75 
 
 6.54 
 
 5.51 
 
 7.43 
 
 8.23 
 
 7.74 
 
 6.3S 
 
 - 76 
 
 6.18 
 
 5.15 
 
 7.06 
 
 7.78 
 
 7.45 
 
 6.01 
 
 77 
 
 5.83 
 
 4.84 
 
 6.72 
 
 7.50 
 
 7.00 
 
 5.7 3 
 
 78 
 
 5.48 
 
 4.59 
 
 6.40 
 
 7.25 
 
 6.56 : 
 
 5.53 
 
 79 
 
 5.11 
 
 4.34 
 
 6.15 
 
 7.07 
 
 6.12 
 
 5.22 
 
 80 
 
 4.75 
 
 4.09 
 
 5.95 
 
 6.97 
 
 5.70 
 
 4.98 
 
 81 
 
 4.41 
 
 3.82 
 
 5.86 
 
 7.00 
 
 5.30 
 
 4.59 
 
 82 
 
 4.09 
 
 3.56 
 
 5.40 
 
 6.65 
 
 4.93 
 
 4.23 
 
 83 
 
 3.80 
 
 3.19 
 
 4.94 
 
 6.33 
 
 4.60 
 
 3.94 
 
 84 
 
 3.58 
 
 2.76 
 
 4.50 
 
 6.00 
 
 4.S2 
 
 3.73 
 
 85 
 
 3.37 
 
 2.37 
 
 4.07 
 
 5.85 
 
 4.14 
 
 3.32 
 
 86 
 
 3.19 
 
 2.05 
 
 3.66 
 
 5.50 
 
 3.75 
 
 2.94 
 
 87 
 
 3.01 
 
 1.63 
 
 3.30 
 
 5.17 
 
 3.40 
 
 2.64 
 
 88 
 
 2.86 
 
 1.30 
 
 3.00 
 
 4.92 
 
 3.12 
 
 2.50 
 
 89 
 
 2.66 
 
 84 
 
 2.83 
 
 4.75 
 
 3.00 
 
 2.00 
 
 90 
 
 2,41 
 
 50 
 
 
 4.73 
 
 2.50 
 
 1.50 
 
25 
 
 TABLE, No. II. 
 
 Showing the premium of insurance on a single life, for one 
 and seven years, and for the ivhole duration of life, to se¬ 
 cure to the nominee, or to the lawful representative of the 
 assured, the sum of one hundred dollars, upon the demise 
 of the life insured. 
 
 
 
 S 
 
 =5 
 
 3 
 
 
 
 | 
 
 6 
 
 'g 
 
 
 <L> 
 
 bo 
 
 < 
 
 s 
 
 aj 
 
 f-c 
 
 c, 
 
 Sh 
 
 a • 
 
 «s g 
 
 X 
 
 c3 £ 
 
 £ <L> 
 
 11 
 ri 
 
 fc/3 
 
 ■< 
 
 s 
 
 g 
 
 cx 
 
 u 
 
 1 £ 2 
 
 S £ 
 
 I S 
 §'§ 
 
 
 
 One ye; 
 
 OJ 
 
 > 
 
 <D 
 
 CO 
 
 'o & 
 
 1 
 
 
 s 
 
 <u 
 
 a 
 
 O 
 
 cl 
 
 > 
 
 4J 
 
 CO 
 
 1 ^ 
 
 £ 
 
 8 a 
 
 14 
 
 98 
 
 1.18 
 
 2.06 
 
 41 
 
 2.31 
 
 2.50 
 
 3.82 
 
 
 15 
 
 99 
 
 1.25 
 
 2.12 
 
 42 
 
 2.39 
 
 2.56 
 
 3.93 
 
 
 16 
 
 1.06 
 
 1.35 
 
 2.18 
 
 43 
 
 2.45 
 
 2.63 
 
 4.04 
 
 
 17 
 
 1.16 
 
 1.43 
 
 2*24 
 
 44 
 
 2.50 
 
 2.71 
 
 4.16 
 
 
 18 
 
 1.27 
 
 1.51 
 
 2.29 
 
 45 
 
 2.56 
 
 2.79 
 
 4.29 
 
 
 19 
 
 1.37 
 
 1.56 
 
 2.35 
 
 46 
 
 2.62 
 
 2.89 
 
 4.41 
 
 
 20 
 
 1.50 
 
 1.62 
 
 2.39 
 
 47 
 
 2.69 
 
 2.99 
 
 4.54 
 
 
 21 
 
 1.59 
 
 1.66 
 
 2.45 
 
 48 
 
 2.76 
 
 3.10 
 
 4.68 
 
 
 22 
 
 161 
 
 1.68 
 
 2.49 
 
 49 
 
 2.87 
 
 3 21 
 
 4.82 
 
 
 23 
 
 1.63 
 
 1.70 
 
 2.54 
 
 50 
 
 3.03 , 
 
 3.34 
 
 4.99 
 
 
 24 
 
 1.65 
 
 1.73 
 
 2.59 
 
 51 
 
 3.15 
 
 3*45 
 
 5.14 
 
 
 25 
 
 1.68 
 
 1.77 
 
 2.65 
 
 52 
 
 3.24 
 
 3,56 
 
 5 30 
 
 
 26 
 
 1.71 
 
 1.79 
 
 2.70 
 
 53 
 
 3.35 
 
 3.68 
 
 5.47 
 
 
 27 
 
 1.73 
 
 1.83 
 
 2.76 
 
 54 
 
 3.46 
 
 3,82 
 
 5.65 
 
 
 28 
 
 1.77 
 
 1.86 
 
 2.81 
 
 55 
 
 3.57 
 
 3.96 
 
 5.85 
 
 
 29 
 
 1.80 
 
 1.89 
 
 2.87 
 
 56 
 
 3.69 
 
 4.1 1 
 
 6.16 
 
 
 30 
 
 1.82 
 
 1.92 
 
 2-93 
 
 57 
 
 3.83 
 
 4.26 
 
 6,27 
 
 
 31 
 
 1.85 
 
 1.96 
 
 3.0,0 
 
 58 
 
 3-97 
 
 4.43 
 
 6.50 
 
 
 32 
 
 1.89 
 
 1 99 
 
 3.06 
 
 59 
 
 4.13 
 
 4.62 
 
 6.75 
 
 
 33 
 
 1.92 
 
 2.02 
 
 3.14 
 
 60 
 
 4.29 
 
 4.80 
 
 7.00 
 
 
 34 
 
 1.95 
 
 2-07 
 
 3.21 
 
 61 
 
 4.47 
 
 4.99 
 
 7.28 
 
 
 35 
 
 2.00 
 
 213 
 
 3.28 
 
 62 
 
 4.60 
 
 5.22 
 
 7.57 
 
 
 36 
 
 2.03 
 
 2-18 
 
 3.37 
 
 63 
 
 4.81 
 
 5.49 
 
 7.89 
 
 
 37 
 
 2.07 
 
 2.24 
 
 3.45 
 
 64 
 
 4.99 
 
 5.76 
 
 8.23 
 
 
 38 
 
 2.12 
 
 2.30 
 
 ; 3.54 
 
 65 
 
 5.23 
 
 6.09 
 
 8 62 
 
 
 39 
 
 2.15 
 
 2.35 
 
 3.64 
 
 66 
 
 5.50 
 
 6.47 
 
 9.03 
 
 
 40 
 
 2.23 
 
 2.43 
 
 3.72 
 
 67 
 
 5.80 
 
 6.89 
 
 9.47 
 
26 
 
 TABLE, No. Ill: 
 
 Showing the annuity which may be purchased for one hun¬ 
 dred dollars , on a single life , from birth to the age of 
 ninety-jive* 
 
 
 U 
 
 a 
 
 o 
 
 
 
 o 
 
 
 CO 
 
 c 
 
 6 
 
 bo 
 
 < 
 
 ai 
 
 °I 
 
 u o 
 
 <L> 
 
 .0 3 
 
 C to 
 
 s i . 
 1 % 
 
 Age. 
 
 <D . 
 
 ^ <D 
 
 Si 
 
 O 6. 
 
 C/3 
 
 11 
 
 5s 2 
 
 So 
 
 <3 
 
 5 . 
 
 <V GJ 
 
 J1 
 
 c ” 
 
 d c 
 
 o es 
 ci .t: 
 o s 
 
 c. c 
 
 
 | 0. 
 
 li 
 
 
 e «=- 
 
 P. p 
 
 
 1 a 
 
 5 rt 
 
 
 to 
 
 « 
 
 
 fc 
 
 
 
 a 
 
 & 
 
 cS 
 
 P3 
 
 Birth 
 
 9.306 
 
 10.74 
 
 32 
 
 13.496 
 
 7.40 
 
 64 
 
 7.889 
 
 ,12.67 
 
 6 mo. 
 
 11.837 
 
 8.44 
 
 33 
 
 13,377 
 
 7.47 
 
 65 
 
 7.639 
 
 13.07 
 
 1 year 
 
 12.141 
 
 8.23 
 
 34 
 
 13.254 
 
 7.54 
 
 66 
 
 7.385 
 
 13.54 
 
 3 
 
 14.091 
 
 7.09 
 
 35 
 
 13.127 
 
 7 61 
 
 67 
 
 7.126 
 
 14.03. 
 
 3 
 
 14.841 
 
 6.73 
 
 36 
 
 12.995 
 
 7.69 
 
 68 
 
 6.862 
 
 14.57 
 
 4 
 
 15.343 
 
 6.5 1 
 
 37 
 
 12.861 
 
 7 77 
 
 69 
 
 6.595 
 
 15.15 
 
 5 
 
 15.568 
 
 6.42 
 
 38 
 
 12.721 
 
 7.86 
 
 70 
 
 6,324 
 
 15.81 
 
 6 
 
 15.793 
 
 6 33 
 
 39 
 
 12.577 
 
 7.95 
 
 71 
 
 6.052 
 
 16.52 
 
 7 
 
 15.924 
 
 6.27 
 
 1 40 
 
 12.428 
 
 8.04 
 
 72 
 
 5.779 
 
 17.30 
 
 8 
 
 15 987 
 
 6 25 
 
 41 
 
 12.279 
 
 8.14 
 
 73 
 
 5.507 
 
 18.16 
 
 9 
 
 15.970 
 
 6.26 
 
 - 42 
 
 12.128 
 
 8.24 
 
 74 
 
 5.239 
 
 19.08 
 
 10 
 
 15,895 
 
 6.29 
 
 43 
 
 11.977 
 
 8.34 
 
 75 
 
 4.981 
 
 20.07 
 
 11 
 
 15-795 
 
 6.33 
 
 44 
 
 1 1.820 
 
 8.46 
 
 76 
 
 4.736 
 
 21.11 
 
 12 
 
 15.683 
 
 6.37 
 
 45 
 
 1 1.660 
 
 8.57 
 
 77 
 
 4.490 
 
 22.27 
 
 13 
 
 15.567 
 
 6.42 
 
 46 
 
 1 1.494 
 
 8.70 
 
 78 
 
 4-236 
 
 23.60 
 
 14 
 
 15.445 
 
 6.47 
 
 47 
 
 11.323 
 
 8.83 
 
 79 
 
 3.964 
 
 25.22 
 
 15 
 
 15.317 
 
 6.52 
 
 48 
 
 11.146 
 
 8.97 
 
 80 
 
 3.690 
 
 27.10 
 
 16 
 
 15 183 
 
 6.58 
 
 49 
 
 10.965 
 
 9.12 
 
 81 
 
 3.426 
 
 29.18 
 
 17 
 
 15.050 
 
 6.64 
 
 50 
 
 10.782 
 
 9.27 
 
 82 
 
 3.171 
 
 31.53 
 
 18 
 
 14.927 
 
 6 70 
 
 51 
 
 10.602 
 
 9.43 
 
 83 
 
 2.937 
 
 34.04 
 
 19 
 
 14.815 
 
 6.75 
 
 52 
 
 10.421 
 
 9.59 
 
 84 
 
 2.759 
 
 36.24 
 
 20 
 
 14.707 
 
 6.79 
 
 53 
 
 10.235 
 
 9.77 
 
 85 
 
 2.595 
 
 38.53 
 
 21 
 
 14.612 
 
 6.84 
 
 54 
 
 10.045 
 
 9.95 
 
 86 
 
 2.444 
 
 40.91 
 
 22 
 
 14.524 
 
 6.87 
 
 55 
 
 9.851 
 
 10.15 
 
 87 
 
 2.303 
 
 43.42 
 
 23 
 
 14.433 
 
 6.92 
 
 56 
 
 9.652 
 
 10.36 
 
 88 
 
 2.184 
 
 45.78 
 
 24 
 
 14.340 
 
 6.97 
 
 57 
 
 9.448 
 
 10.58 
 
 89 
 
 2.021 
 
 49.48 
 
 25 
 
 14.245 
 
 7.02 
 
 58 
 
 9.241 
 
 10.82 
 
 90 
 
 1.810 
 
 55.24 
 
 26 
 
 14.146 
 
 7.06 
 
 59 
 
 9.028 
 
 11.18 
 
 91 
 
 1.520 
 
 65.78 
 
 27 
 
 L4.045 
 
 7.12 
 
 60 
 
 8.8 i 1 
 
 1 1.35 
 
 92 
 
 1.211 
 
 82.56 
 
 28 
 
 15.941 
 
 7.17 
 
 61 
 
 8.590 
 
 11.64 
 
 93 
 
 0.857 
 
 1 16.68 
 
 29 
 
 13.835 
 
 7.22 
 
 62 
 
 8.364 
 
 1 1.95 
 
 94 
 
 0.551 
 
 18 1.48 
 
 30 
 
 13.725 
 
 7.28 
 
 63 
 
 8.129 
 
 12.30 
 
 95 
 
 0.250 
 
 400.00 
 
 31 
 
 13.613 
 
 7.34 
 
 1 
 
 
 
 
 
 
27 
 
 TABLE, No. IV, 
 
 Showing Hie stun required in a gross payment, or in annual 
 instalments , during the joint lives of two persons, whose 
 difference of age is five years, for an annuity of one hun¬ 
 dred dollars, to he enjoyed by the youngest life, aftet 
 the death of the eldest . 
 
 Ages. 
 
 Gross 
 
 Annual 
 
 payment. 
 
 instalment. 
 
 25 and 20 
 
 316.80 
 
 26.42 
 
 30 and 25 
 
 322.10 
 
 28.01 
 
 35 and 30 
 
 327.40 
 
 29.89 
 
 40 and 35 
 
 332.90 
 
 32.12 
 
 45 and 40 
 
 335.30 
 
 34.77 
 
 50 and 45 
 
 337.40 
 
 37.94 
 
 55 and 50 
 
 332.90 
 
 41.19 
 
 60 and 55 
 
 326.50 
 
 44.89 
 
 65 and 60 
 
 317.10 
 
 49-76 
 
 70 and 65 
 
 306.30 
 
 56.96. 
 
 75 and 70 
 
 280.90 
 
 64.62 
 
 80 and 75 
 
 248.10 
 
 73.38 
 
 85 and 80 
 
 203.90 
 
 79.25 
 
 90 and 85 
 
 150.40 
 
 73.80 
 
 95 and 90 
 
 162.50 
 
 138.2,9 
 
 TABLE, No. V. 
 
 Showing the value of an annuity of one hundred dollars, 
 at the several ages mentioned , deferred for the space of 
 ten years . 
 
 Age. 
 
 Sum. 
 
 Rate per cent. 
 
 40 
 
 520.26 
 
 19.22 
 
 45 
 
 455.80 
 
 21.94 
 
 50 
 
 385.87 
 
 25.91 
 
 55 
 
 312.67 
 
 31.98 
 
 60 
 
 234.69 
 
 42.61 
 
 65 
 
 155.89 
 
 64.14 
 
28 
 
 TABLE, No. VI. 
 
 Showing the sum which may he received at the several age# 
 of twenty-one, forty-jive, and fifty five, for one hundred 
 dollars, paid at the respective ages below, and also the 
 equivalent annuity; or 
 
 A table of Endowments for Children, 
 
 AND DEFERRED ANNUITIES. 
 
 
 21. 
 
 45. 
 
 55. 
 
 Ages. 
 
 1 Sum re¬ 
 ceivable, or 
 { endowment. 
 
 J Equivalent. 
 
 | annuity. 
 
 Sum re¬ 
 ceivable, or 
 endowment. 
 
 1 
 
 Equivalent 
 annuity. 1 
 
 Sum re¬ 
 
 ceivable; or 
 endowment. 
 
 Equivalent 
 
 annuity. 
 
 Birth 
 
 641.43 
 
 43.87 
 
 3,222.45 
 
 276.16 
 
 6,965.07 
 
 706.95 
 
 3 mo. 
 
 560.89 
 
 38.36 
 
 2,818.12 
 
 241.51 
 
 6,090.56 
 
 618.19 
 
 6 mo. 
 
 524.36 
 
 35.86 
 
 2,634.56 
 
 225.78 
 
 5,693.85 
 
 577.92 
 
 9 mo. 
 
 488.60 
 
 33.42 
 
 2,454.92 
 
 210.38 
 
 5,305.60 
 
 538.51 
 
 1 year 
 
 453.57 
 
 31.02 
 
 2,278.92 
 
 195.30 
 
 4,925.23 
 
 499.91 
 
 2 
 
 363.71 
 
 24.87 
 
 1,827.40 
 
 156.61 
 
 3,949.40 
 
 400.86 
 
 3 
 
 322.51 
 
 22.05 
 
 1,620.42 
 
 188.86 
 
 3,502.07 
 
 3 55.46 
 
 4 
 
 291.98 
 
 19.97 
 
 1,467.01 
 
 125.72 
 
 3,170.53 
 
 321.80 
 
 5 
 
 269.58 
 
 18.43 
 
 1,354.46 
 
 116.07 
 
 2,927.27 
 
 297.1 f 
 
 6 
 
 249.18 
 
 17.04 
 
 1,251.98 
 
 107.29 
 
 2,705.80 
 
 274.63 
 
 7 
 
 231.84 
 
 15.85 
 
 1,164.83 
 
 99 82 
 
 2,517.46 
 
 255.52 
 
 8 
 
 216.70 
 
 14.82 
 
 1,088.74 
 
 93.30 
 
 2.353.07 
 
 238.83 
 
 9 
 
 
 
 1,022.66 
 
 87.64 
 
 2,210.19 
 
 224.33 
 
 10 
 
 
 
 963.77 
 
 82.5-9 
 
 2,082.92 
 
 21 1.41 
 
 1 1 
 
 
 
 909.47 
 
 77.94 
 
 1,965.56 
 
 1 99.50 
 
 12 
 
 
 
 858.46 
 
 73.57 
 
 1,855.31 
 
 188.31 
 
 13 
 
 
 
 810.24 
 
 69.43 
 
 1,751.11 
 
 177.73 
 
 14 
 
 
 
 764.67 
 
 65.53 
 
 1,652.62 
 
 167.74 
 
 15 
 
 
 
 721.61 
 
 61.84 
 
 1,559.55 
 
 158.29 
 
 16 
 
 
 
 680.91 
 
 58.35 
 
 1,471.61 
 
 149.36 
 
 17 
 
 
 
 642.09 
 
 55.02 
 
 1,387.69 
 
 140.85 
 
 18 
 
 
 
 604.84 
 
 51.83 
 
 1,307.20 
 
 132.68 
 
 19 
 
 
 
 569.14 
 
 48.77 
 
 1,230.05 
 
 124.85 
 
 20 
 
 
 
 535*06 
 
 45.85 
 
 1,156.38 
 
 117.37 
 
 21 
 
 
 
 502.43 
 
 43.05 
 
 1,085.86 
 
 1 10.21 
 
 22 
 
 
 
 471.41 
 
 40.39 
 
 1,018.84 
 
 103.41 
 
 23 
 
 
 
 442.27 
 
 37.90 
 
 955.71 
 
 97.00 
 
 24 
 
 
 
 414.72 
 
 35.53 
 
 896.29 
 
 90.97 
 
 35 
 
 
 
 388.84 . 
 
 33.32 
 
 840.37 
 
 85.2'9 
 
29 
 
 TABLE, No. VI. —continued. 
 
 
 45. 
 
 55. 
 
 Age. 
 
 U .J 
 
 ° G 
 
 « a 
 
 £ 'u 
 
 quivalent 
 
 annuity. 1 
 
 um re- I 
 
 eivable, or 
 
 ndowment. j 
 
 quivalent 
 
 annuity. 
 
 
 O) o S 
 
 a 
 
 c n o v 
 
 
 26 
 
 364.49 
 
 31.20 
 
 787.74 
 
 79.95 
 
 27 
 
 341.58 
 
 29.27 
 
 738.23 
 
 74.93 
 
 28 
 
 320.02 
 
 27.42 
 
 691.63 
 
 70.20 
 
 29 
 
 299.74 
 
 25.68 
 
 647.80 
 
 65.75 
 
 30 
 
 280.67 
 
 24.05 
 
 606.58 
 
 61.56 
 
 31 
 
 262.73 
 
 22.51 
 
 567.81 
 
 57.63 
 
 32 
 
 245.86 
 
 . 21.07 
 
 531.36 
 
 53.93 
 
 33 
 
 230.01 
 
 19.71 
 
 497.10 
 
 50.45 
 
 34 
 
 215.10 
 
 18.42 
 
 464.89 
 
 47.17 
 
 SS 
 
 201.10 
 
 17.23 
 
 434.62 
 
 44.1 ! 
 
30 
 
 EXPLANATION OF THE TABLES. 
 
 No. I, 
 
 Shows the expectation of life at the different places 
 therein named* that is, the average time to which persons 
 of the several ages expressed, have an equal chance of 
 living. 
 
 No. II, 
 
 Shows the premium demanded by the Company at 
 the several ages described, for the different periods of 
 one year, seven years, and for the whole duration of 
 life; that is, until the life insured shall decease. 
 
 Both these tables are carried to the age of 6 7 years, 
 after which it is supposed that few insurances will be 
 applied for, as the premiums must increase more 
 rapidly; yet the company are ready to insure at any age 
 on the same principles. 
 
 No. Ill, 
 
 Shows the annuity that the Company will grant at 
 any age, and is carried as far as the age of 80. The 
 first column shows the age, the second the number of 
 years purchase demanded, the third the rate per cent, 
 the annuitant will receive for his money. 
 
 No. IV, 
 
 Shows the sum demanded for an annuity of one 
 hundred dollars during the life of a wife after the death 
 of her husband, supposing the age of the husband to 
 exceed that of the wife, five years. Where the differ¬ 
 ence is less, the sum demanded will be decreased in 
 proportion. Thefirst column shows the respective ages. 
 
31 
 
 the second the payment in a gross sum to be paid down 
 at the time of making the contract, the third the annnal 
 payment that will be received during the continuance 
 of the joint lives in li,eu of such gross sum. This table 
 commences with 25 and 20 and is continued by inter¬ 
 vals of 5 years to 95 and 90; but the Company will con¬ 
 tract for any other ages. 
 
 No. V 
 
 Shows the sum demanded for an annuity of one hun¬ 
 dred dollars deferred for ten years.. Six ages only are 
 taken here merely to show the nature and advantage of 
 such contracts; but the principle is further exemplified in 
 
 No. VI, 
 
 Which exhibits an easy mode of providing for 
 children, by a reversionary sum or endowment, to be 
 received at a future given period. This table is calcu¬ 
 lated upon its being receivable at 21, at 45, and 55 years, 
 and, as in some cases an equivalent annuity would be 
 preferred, a column containing the rates of such an¬ 
 nuities is adjoined to the sums in each term. In the 
 first term, the table is carried no higher than 8 years, 
 as it is not probable that endowments payable within 
 13 years, will be wanted. For the other periods the 
 table is carried as high as 35 years, and may be con¬ 
 sidered as a sequel to No. 'V, the table of deferred an¬ 
 nuities. 
 
 USE OF THE TABLES. 
 
 1st. Suppose it were desirable to know the probable 
 term to which a given life might extend, say of a person 
 aged 40, 
 
32 
 
 Look in the table of expectations No. I. in the first 
 column for the number 40, opposite it in the other 
 columns will be found 23.08—22.19, &c. that is, such 
 a person has an equal chance of living 23 years and 8 
 hundredth parts of a year at Northampton, 22 years and 
 19 hundredth parts of a year, &c. as in the respective co¬ 
 lumns, calculated for different places. 
 
 2d. Suppose it is required to know the premium 
 demanded for the insurance of 8100 on the life of a 
 person aged 40. Find in the column of ages (table 
 No. II.) the age 40. In the next column opposite is 
 §2.23; in the third column 82.43, and in the fourth 
 column 83.72, which is the answer; or, in other words, 
 that 82.23 is the premium for a single year, 82.43 
 per annum on a policy for 7 years; and 83.72 per 
 annum on a policy for the whole duration of life, to 
 secure to the heir or nominee a payment of 8100 at his 
 decease. 
 
 3rd. Suppose an annuity of §200 was wanted for 
 a person aged 60 years, to commence immediately. To 
 find the sum demanded for it, look in table III, find in 
 the column of ages the number 60, opposite to it in the 
 next column is 8.811, or the number of years purchase. 
 Multiply this sum by 8200 the annuity, and the product 
 81762 is the answer, which is at the rate of 811.35 per 
 cent, agreeably to the next column. 
 
 4th. Suppose a man aged 30, whose wife’s age is 25, 
 wishes to provide an annuity of 8500 for her tp com¬ 
 mence at his decease, and desires to know what pay¬ 
 ment will be required therefor. Find in table IV, in the 
 Column of ages, the number 30 and 25, and opposite in 
 the next column will be seen 322.10, which is the sum 
 
demanded for an annuity of $100. Multiply this by 5, 
 and the product ($1610.50) is the answer. The sum 
 (28.01) in the next column, multiplied in like manner, 
 and amounting to $140.05, is the annual payment re¬ 
 quired during the joint lives, in lieu of the gross sum. 
 
 5th. A man aged 50, thinking he shall be able for 
 ten years longer to maintain himself by his labour, is 
 desirous out of the property he is now possessed of, to 
 provide an annuity of $500, after he shall have arrived 
 at that period, and wants to know what he must pay for 
 it in present money. By looking at table No. V, opposite 
 50 in the first column, he will find 385.87 as the value 
 of an annuity of $100, which, multiplied by 5, gives 
 $1929.35, the sum required. The last column shows 
 the rate per cent, per annum, viz. 25 dollars 91 cents, 
 that he would receive on the sum paid into the office. 
 
 6. Suppose it were inquired what sum a child just 
 born might receive at a future day, for $500 paid imme- 
 iiately to the company. Opposite birth in the column 
 of ages in table VI, and under the number 21, will be 
 found in the first column 641.43, which being the sum 
 illowed to children of that age, on their attaining the age 
 of 21 for $100 paid in, if multiplied by 5 gives $3207.15 
 md 43.87 in the second column, multiplied in the same 
 manner, gives $219.35, the annuity equivalent. In the 
 ike manner, by multiplying the sums in the columns 
 mder the numbers 45 and 55, will be found the sums 
 •espectively payable to such a child on its arrival at the 
 ige of 45 or 55, for the $500 paid in at the time of its 
 firth. 
 
 F 
 
34 
 
 Form of an application for an annuity to commence im¬ 
 mediately. 
 of 
 
 on behalf of 
 
 desires to purchase an annuity of dollars for 
 
 the life of to be paid 
 
 half yearly on the day of and the day of 
 annually, the first payment to be made on the day or] 
 the said having been born at , 
 
 on the day of 
 
 This declaration to be the basis of the agreement; and il 
 any thing false or fraudulent is contained therein, all 
 monies paid or which shall be paid, in consequence! 
 thereof shall be forfeited. 
 
 Date, 
 
 Natural marks 
 
 Form of an application for a deferred annuity. 
 of 
 
 on behalf of 
 
 desires to purchase an annuity of dollars foi 
 
 the life of 
 
 to commence on attaining the age of 
 to be paid half yearly on the day of and the 
 day of annually, the first payment to be made on the 
 day of the said having been born a 
 
 on the day of 
 
 This declaration to be the basis of the agreement; and i 
 any thing false or fraudulent is contained therein, ai 
 monies paid or which shall be paid, in consequence 
 thereof shall be forfeited. 
 
 Date, 
 
 Natural marks 
 
35 
 
 Form of an application for a reversionary payment or 
 Endowment . 
 of 
 
 on behalf of 
 
 desires to purchase an endowment of dollars to 
 
 be paid to 
 
 on attaining the age of the said 
 
 having been born at on the day of 
 
 This declaration to be the basis of the agreement; and if 
 any thing false or fraudulent is contained therein, all 
 monies paid, or which shall be paid, in consequence 
 thereof shall be forfeited. 
 
 Date, 
 
 Natural marks 
 
 THE SUBSTANCE OF A DECLARATION 
 required to be made and signed by or on behalf of a 
 person who proposes to make an insurance on his or her 
 own life . 
 
 born in 
 
 but now of 
 
 intending to make an insurance 
 with the Pennsylvania Company for insurances on 
 lives, and granting annuities” in the sum of 
 
 upon my own life for 
 do hereby declare that my age 
 does not exceed ; that I have 
 
 had the small-pox or been vaccinated, and that 
 I am not afflicted with any disorder which tends to the 
 shortening of life; and I do hereby agree that this decla¬ 
 ration be the basis of the contract between the said 
 Company and me, and that if any untrue averment is 
 
56 
 
 contained in this declaration, all monies which shall have 
 been paid to the Company upon account of the in¬ 
 surance, made or to be made, in consequence thereof 
 shall be forfeited. Dated the day 
 
 of in the year of our Lord one thou¬ 
 
 sand eight hundred and 
 
 THE SUBSTANCE OF A DECLARATION 
 
 required to be made and signed by or on behalf of a 
 person who proposes to make an insurance on the life of 
 another . 
 
 I of 
 
 intending to make insurance with “ the Pennsylvania 
 Company for insurances on lives, and granting annuities” 
 in the sum of 
 
 upon the life of born at 
 
 in 
 
 do hereby declare that the said 
 
 has not any disorder which tends to the shortening oi 
 life: that has had the small-pox or been vacci¬ 
 nated; and that the age of the said does not 
 
 exceed years; and that I have an 
 
 interest in the life of the said to the full 
 
 amount of the said sum of 
 
 and I do hereby agree that this declaration be the basis 
 of the contract between the said Company and me; and 
 that if any untrue averment is contained in this declara¬ 
 tion, all monies which shall have been paid to the Com¬ 
 pany upon account of the insurance made or to be made 
 in consequence thereof, shall be forfeited. Dated 
 
 t ] ie day of in the year of our 
 
 Lord, one thousand eight hundred and 
 
AN ACT 
 
 To incorporate the Pennsylvania Company for insurance on 
 lives, granting annuities, and other purposes, passed 
 March 10 , 1812 , 
 
 Sect. 1. Be it enacted by the Senate and House of 
 Representatives of the Commonwealth of Pennsylvania 
 in General Assembly met , and it is hereby enacted by the 
 authority of the same: —That John Welsh, John War¬ 
 der, and Jacob Shoemaker, or any two of them, shall be, 
 and they are hereby constituted and appointed commis¬ 
 sioners, whose duty it shall be within thirty days after 
 the passing of this act, first having given ten days no¬ 
 tice in two or more of the daily newspapers published 
 in the city of Philadelphia, to open a book at some pub¬ 
 lic and convenient place in said city, and therein to 
 transcribe and insert the names of all persons being citi¬ 
 zens or residents of this Commonwealth, who have in 
 writing associated under the name and style of “ The 
 Pennsylvania Company for assurances on lives , and 
 granting annuities and reversions and also shall receive 
 and take in the said book the subscriptions of all such 
 other persons, being citizens or residents as aforesaid, 
 as shall offer to subscribe and join in the said associa¬ 
 tion, together with the number of shares by such per¬ 
 sons respectively taken and subscribed for; and the said 
 book shall be kept and remain open for three successive 
 days, from ten o’clock in the forenoon until three o’clock 
 in the afternoon of each of the said days, for receiving 
 
 Commis¬ 
 sioners ap¬ 
 pointed. 
 
 Their du- jj 
 ties deft- jj 
 ned. \ 
 
 Who may i! 
 subscribe.' 
 
 Books to • 3 
 
 be open 
 
 three dayVj 
 
38 
 
 ■Subscrip¬ 
 tion limit¬ 
 ed. 
 
 Subscrip¬ 
 tion to be 
 '■reduced 
 pro rata if 
 more shall 
 be subscri¬ 
 bed than 
 the law al¬ 
 lows. 
 
 Limitation 
 of indivi¬ 
 dual sub¬ 
 scription. 
 
 The sub¬ 
 scribers in- 
 corpora- 
 ;ted. 
 
 [Style and 
 '[title of the 
 ' corpora¬ 
 tion. 
 
 I 
 
 the subscriptions aforesaid, after which time, if the 
 whole number of shares shall amount to five thousand, 
 no additional subscriptions shall be permitted or allowed 
 by the said commissioners; but if the whole number of 
 shares then so taken and subscribed for, shall exceed 
 five thousand, all subscriptions above five shares shall 
 be reduced pro rata to the number of five thousand; and 
 if the whole number of shares then taken and subscribed 
 for shall not amount to five thousand, the said commis¬ 
 sioners may continue the said book open from day to 
 day, until the whole number of five thousand shares are 
 taken and subscribed for; Provided , That no person 
 shall within the first three days the books are open, 
 either in his own name or by agency, subscribe for a 
 greater number than ten shares. 
 
 Sect. 2. And be it further enacted by the authority 
 aforesaid ,—That the persons whose names shall be so 
 inserted in the said book, their successors and assigns, 
 shall be, and they are hereby created and constituted a 
 body politic and corporate, and by the name, style, and 
 title of “ The Pennsylvania Company for insurances on 
 lives , and granting annuities ,” and they and their suc¬ 
 cessors are hereby ordained, constituted and declared to 
 be a body politic and corporate in fact and in law, by 
 the name aforesaid; and they and their successors, shall 
 and may have continual succession, and be capable of 
 suing and being sued, pleading and being impleaded, 
 answered and being answered unto, defending and being 
 defended, in all courts and places whatsoever, in all 
 manner of actions, suits, complaints, matters and causes, 
 whatever; and they and their successors may have and 
 use a common seal, make and change and alter the 
 
39 
 
 same at their pleasure, and also they and their succes¬ 
 sors by the same name and style, shall be in law, capa¬ 
 ble of purchasing, holding, cultivating, improving, and 
 conveying, any estate, real or personal, for the use of 
 the said corporation; Provided , That the real estate 
 shall be only such as shall be necessary to accommo¬ 
 date the said corporation in the transaction of the bu¬ 
 siness thereof, or shall be taken and held in security for 
 the payment of debts due to the said corporation; and 
 the said corporation shall have power to ordain and es¬ 
 tablish and put in execution such by-laws, ordinances, 
 and regulations, as shall be necessary for the govern¬ 
 ment thereof, not being contrary to the constitution of 
 this state or of the United States; and for making where¬ 
 of the stockholders shall be convened on the third Mon¬ 
 day of January, annually. And such other general meet¬ 
 ings of the stockholders, shall and may from time to 
 time, for the purpose aforesaid, be called by the direct¬ 
 ors, or by any number of the stockholders holding one 
 thousand shares, as they shall respectively deem neces¬ 
 sary, and the said corporation shall have power generally 
 to do and execute all matters and things which a corpo¬ 
 ration or body politic may or can lawfully do and exe¬ 
 cute, subject to all rules and regulations, restrictions, 
 limitations, and provisions, hereinafter described and de¬ 
 clared: Provided , That the clear yearly income of the 
 said corporation upon the real estate which they are 
 hereby authorised to hold, shall not exceed ten thou¬ 
 sand dollars. 
 
 Sect. 3. And be it further enacted by the authority 
 aforesaid ;—That the said capital stock of the said cor¬ 
 poration shall be five hundred thousand dollars, divided 
 
 May hold 
 real anti 
 personal 
 estates. 
 
 Real estate 
 limited. 
 
 Corpora¬ 
 tion may 
 make by¬ 
 laws for 
 the go¬ 
 vernment 
 thereof, 
 which 
 shall be 
 approved 
 by the 
 stockhold¬ 
 ers annu¬ 
 ally. 
 
 How gene¬ 
 ral meet¬ 
 ings may 
 be called. 
 
 Yearly in¬ 
 come iimi- 
 ted. 
 
 Amount of 
 the capital 
 stock, and 
 the shares. 
 
40 
 
 Manner of 
 payment, 
 and notice 
 to be given 
 
 Proceed¬ 
 ings to be 
 had if sub¬ 
 scribers do 
 not make 
 payment. 
 
 into five thousand shares of one hundred dollars each, 
 and to be raised, constituted, and composed of the sub¬ 
 scriptions heretofore made, or hereafter to be made by 
 virtue of the provisions contained in the first section of 
 this act, and the same shall be paid for and satisfied in 
 manner following: That is to say, each and every sub¬ 
 scriber shall within ten days after public notice given 
 by the president and directors hereinafter named, in any 
 two of the daily papers printed in the city of Philadel¬ 
 phia, pay, or cause to be paid, to the said president and 
 directors for the use of the said corporation, the sum of 
 twenty dollars, in part of each share so subscribed for, 
 and the residue of the money payable on each and every 
 share, shall be paid to the president and directors of the 
 said corporation in such sum or sums, and at such time 
 or times as they, by public notice in two of the daily 
 papers printed in the said city, for at least thirty days, 
 shall in their discretion direct and appoint. And if any 
 subscriber shall refuse or neglect to make the first pay¬ 
 ment as aforesaid, he or she, shall cease to be deemed 
 a subscriber or member of the said corporation, and his 
 or her subscription shall be opened and new subscrip¬ 
 tions received for the number of shares so forfeited. 
 And if any subscriber, his or her assignee or transferee, 
 shall refuse or neglect to make any subsequent payment, 
 called for and demanded by the president and directors 
 as aforesaid, such subscriber, his or her assignee or 
 transferee, shall pay an interest on the amount of such 
 instalment, at the rate of five per centum per month for 
 the time the payment of the said instalment shall be de¬ 
 ferred or delayed after the time the same shall have been 
 directed to be paid as aforesaid, and if the said irrstah 
 
41 
 
 went, together with interest thereon, at the rate afore¬ 
 said, shall not be paid within six months from the time 
 it shall have been so called for, and directed to be paid, 
 each and every share or shares, on which such default 
 shall have been made, together with the sum or sums 
 previously paid thereon, shall be forfeited, and new sub¬ 
 scriptions may be opened and received, for the share 
 or shares so forfeited, at the discretion of the stock¬ 
 holders of the said corporation. 
 
 Sect. 4. And be it further enacted by the authority 
 aforesaid ;—That for the well-ordering of the affairs of Thirteen 
 the said corporation, there shall be thirteen directors, fetors 
 who shall be citizens of this commonwealth, and stock- sen. 
 holders of the said corporation, holding at least two The5r 
 shares each in their own right, elected annually by the quaMca- 
 stockholders at their general meeting for that purpose 
 assembled; and the directors at their first meeting after Their 
 
 ... i # ° election to 
 
 -acn election shall choose one of their number as presi- be annual, 
 ient; but in case it should so happen at any time that an their first 
 election of directors should not be made upon any day, theyshaii 
 •vhen pursuant to this act it ought to have been made, *!dent pre ' 
 he said corporation shall not for that cause be deemed 
 :o be dissolved, and it shall be lawful on any day, with- “tuThe 
 n ninety days thereafter, to hold an election of directors ™ d . if t J' e 
 n such mariner as shall have been regulated by the laws not held 
 md ordinances of the said corporation, until which appointed^ 
 Section the president and directors chosen and appoint- other day 
 d at the next preceding election shall continue in office, pointed^" 
 n case of any director’s death or resignation, his place old direct- 
 hall be filled up for the remainder of the year, in such tSue°inof 
 nanner as the ordinances of the said corporation shall ficet ‘ 11 
 
 , i , .. _ 1 new ones 
 
 or that purpose direct; Provided , That the first direct;- an elected 
 
 F 
 
4 2 
 
 Names of 
 the first 
 directors. 
 
 Time they 
 shall con¬ 
 tinue in of¬ 
 fice. 
 
 Votes of 
 the elect¬ 
 ors to be 
 by ballot. 
 
 Ratio of 
 votes. 
 
 Whole 
 number of 
 votes 
 
 which any 
 subscriber 
 may give. 
 
 Proxy 
 voting al¬ 
 lowed and 
 regulated. 
 
 ors shall be Joseph Ball, John Claxton, Lewis D. Car- 
 pentier, Jacob Sperry, Joseph Peace, Patrick Gernon, 
 Henry Lentz, Thomas P. Cope, Mahlon Hutchinson, 
 John Bohlen, Andrew Pettit, John K. Helmuth, and 
 Samuel Yorke, who shall hold their offices until the 
 third Monday of January, in the year of our Lord, one 
 thousand eight hundred and thirteen, and until new di¬ 
 rectors shall be first chosen; and the said directors 
 shall, within ten days after the passing of this act, meet 
 and appoint their president. 
 
 Sect. 5. And be it further enacted by the authority 
 aforesaid ;—That the votes of the stockholders for di¬ 
 rectors shall be by ballot, and the election of directors 
 and for deciding all questions in a general meeting of 
 the stockholders, the ratio of the votes shall be as fol¬ 
 lows, to wit: A stockholder having five shares or less 
 shall have one vote for each share so held; having fifty 
 shares or less, shall have one vote for every five shares 
 he shall so hold above five shares; having one hun¬ 
 dred shares or less shall have one vote, for every ten 
 shares he shall so hold above fifty shares; having above 
 one hundred shares, he shall have one vote, for every 
 twenty shares he shall so hold above one hundred shares; 
 but no stockholder shall be entitled in his own right, or 
 as a proxy, to a greater number than thirty votes; nor 
 shall any stockholder vote at any election for directors 
 unless the share or shares upon which he or she may claim 
 to vote, shall have been standing in his or her name in the 
 books of the said corporation, for at least three months 
 previous to such election, and such stockholder may 
 vote by proxy: Provided , That no vote shall be received 
 on any proxy more than nine months after the date of 
 said proxy, and further, that no transfer of proxy shall 
 
43 
 
 be allowed, and that no person shall be allowed to vote 
 as the proxy of more than one stockholder. 
 
 Sect. 6. And be it further enacted by the authority 
 aforesaid; —That the directors of the said corporation, 
 for the time being, four of whom with the president, or 
 in case of his absence, seven shall be a quorum, shall 
 have power to appoint such officers, clerks, agents, and 
 other persons, as shall be necessary for conducting and 
 executing the business of the said corporation, as well 
 in the said city of Philadelphia, as elsewhere, and to al¬ 
 low the said persons so appointed, such compensation 
 for their services respectively, as they shall deem rea¬ 
 sonable, and generally to exercise all other powers and 
 authorities for well-governing and ordering the affairs 
 and funds of the said corporation, as this act confers and 
 allows. 
 
 Sect. 7. And be it further enacted by the authority 
 aforesaid; —That it may be lawful for the said corpora¬ 
 tion to invest the capital stock thereof, and all monies 
 received for premiums of insurance, and for the grant 
 and sale of annuities and other purposes, in any stock 
 of the United States, or of this state, or of any chartered 
 or incorporated bank, or in the purchase of ground- 
 1 rents, or mortgages, or to lend the same on good and 
 sufficient security, and also to sell and dispose of and 
 transfer all or any of the said stock and securities, and 
 to invest the proceeds thereof in like and other such 
 stock or securities, whenever the safety or immediate 
 exigencies of the said corporation shall render the same 
 .necessary; Provided , That no deposit, loan of money 
 'upon interest (except in such cases as may be autho¬ 
 rised by this section) or promissory note shall be al¬ 
 lowed, made or issued in the manner of a banking in- 
 
 Powers of 
 the direct¬ 
 ors, in the 
 appoint¬ 
 ment of 
 officers, 
 
 And al¬ 
 lowing 
 them a 
 compensa¬ 
 tion. 
 
 And theit* 
 
 general 
 
 powers. 
 
 How the 
 capital 
 stock may 
 be invest¬ 
 ed. 
 
 Corpora¬ 
 tion not to 
 issue pro r 
 missorv 
 notes. 
 
44 
 
 Nor buy 
 or trade in 
 stock for 
 the pur¬ 
 pose of 
 making 1 a 
 profit. 
 
 President 
 and Di¬ 
 rectors 
 may make 
 insurances 
 on lives, 
 contract 
 for annui¬ 
 ties, &c. 
 
 All their 
 contracts 
 to be in 
 writing or 
 printed, 
 and signed 
 by the pro¬ 
 per offi¬ 
 cers. 
 
 President 
 and Di¬ 
 rectors 
 shall make 
 half yearly 
 dividends 
 of the pro¬ 
 fits of the 
 corpora¬ 
 tion, and 
 pay them 
 to the 
 .stockhold¬ 
 ers.. 
 
 stitution;— And provided also , That nothing in this act 
 contained, shall be construed to authorize the said cor¬ 
 poration to buy or trade in any stock whatsoever, for 
 the purpose of making a profit by such buying and 
 trading. 
 
 Sect. 8 . And be it further enacted by the authority 
 aforesaid; —That the president and directors shall have 
 full power on behalf of the said corporation to make in¬ 
 surances on lives by sea and on shore, and to contract 
 for, grant and sell annuities, and reversionary payments, 
 and generally to make all kinds of contracts, in which 
 the casualties of life and interest of money are princi¬ 
 pally involved, except as before excepted, and to make, 
 execute, and perfect, such and so many contracts, bar¬ 
 gains, agreements, policies, and other instruments, as 
 shall or may be necessary, and as the nature of the case 
 shall or may require; and every such contract, bargain, 
 agreement, and policy, to be made by the said corpora¬ 
 tion, shall be in writing or in print, and shall be under 
 the seal of the said corporation, signed by the president, 
 and attested by the actuary or other officer who may be 
 appointed by the president and directors for that pur¬ 
 pose. 
 
 Sec t. 9. And be it further enacted by the authority 
 aforesaid; —That the president and directors shall, on 
 the first Monday of January, in the year of our Lord, 
 one thousand eight hundred and thirteen, and on the 
 first Monday of July and of January in every year there¬ 
 after, declare and divide so much of the profits of the 
 said corporation, as to them shall appear safe and ad¬ 
 visable, and the dividend so declared shall be paid to 
 the respective stockholders, agreeably to such rules as 
 
45 
 
 the president and directors shall make for that pur- 
 pose. 
 
 Sec t 6 10. And be it further enacted by the authority 
 aforesaid; —That the shares of the stock of the said cor¬ 
 poration shall be assignable and transferable, according 
 to such rules and regulations as the president and di¬ 
 rectors shall for that purpose ordain and establish, and 
 not otherwise; Provided , That no person or persons 
 shall hold or be owners of any share or shares of the 
 stock of this corporation, who are not citizens of, or 
 resident in the United States. 
 
 Sect. 11 . And be it further enacted by the authority 
 aforesaid; That if at any time it shall appear to the 
 legislature, that the charter privileges hereby granted 
 are injurious to the public welfare, the power thereof to 
 repeal this act, shall not on any conditions be denied or 
 impaired; but such repeal shall not affect any engage¬ 
 ments to which said Company may have become a party 
 previously thereto, and that the said Company shall 
 have a reasonable time to bring their accounts to a final 
 settlement and termination. 
 
 JOHN TOD, Speaker of the 
 
 House of Representatives . 
 
 P. C. LANE, Speaker of the Senate . 
 
 Approved— the tenth day of March, in the year 
 T our Lord, one. thousand eight hundred and twelve. 
 
 SIMON SNYDER. 
 
 Shares 
 may be 
 transfer¬ 
 red. 
 
 None but 
 citizens, 
 or resi¬ 
 dents of 
 the United 
 States may 
 hold stock 
 
 Reserva¬ 
 tion as to 
 the pow¬ 
 ers grant¬ 
 ed.