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LIGHT VERSUS DARKNESS.

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"SHAKESPEARE, the Greatest Genius who has ever yet lived," taught the Divineness of For. giveness, of Perpetual Mercy, of Constant Patience, of Endless Peace, of Perpetual Gentleness. If you can show me one who knew things better than this man, show him !! I know him not!! If he had appeared as a Divine, they would have Burned Him; as a Politician, they would have Beheaded Him; but God made him a Player.

"He taught that kindness is Nobler than Revenge!!”—The Rev. GEORGE DAWSON, M.A.
“ Earthly power doth then show likest God's And that same prayer doth teach us all to render
When mercy seasons justice,

The Deeds of Mercy."

SHAKESPEARE.
What higher aim can man attain

Than conquest over human pain ?
JEOPARDY OF LIFE, THE GREAT DANGER OF DELAY,

You can change the trickling stream, but not the Raging Torrent.
WHAT EVERYBODY SHOULD READ. - How important it is to every individual to have at hand

some simple, effective, and palatable remedy such as Eno's FRUIT SALT, to check disease at the
onset!!! For this is the time. With very little trouble you can change the course of the trickling mountain
stream but not the rolling river. I feel I cannot sufficiently impress this important information upon every.
body :--Let Eno's “ FRUIT SALT" be your companion. When out of sorts, yet unable to say why, it is a
real necessity to have a simple remedy at hand. The Pilot can so steer and direct as to bring the ship into
safety, but he cannot quell the raging storm. The common idea when not feeling well is: " I will wait and
see ; perhaps I shall be better to-morrow ;" whereas had a supply of Eno's "Fruit SALT" been at hand,
and use made of it at the onset, all calamitous results might have been avoided. What dashes to the earth
so many hopes, breaks so many sweet alliances, blasts so many auspicious enterprises, as untimely Death?
“I used my ‘FRUIT SALT' in my last severe attack of fever and I have every reason to say

I believe it saved my life."-J. C. ENO.
CAUTION.--Examine each bottle, and see that the Cabsule is marked ENO'S “FRUIT SALT,"

Without it you have been imposed on by a worthless imitation. Sold by all Chemists.

Prepared only at ENO'S “FRUIT SALT" WORKS, LONDON, S.E., by J. C. ENO'S PATENT.

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PRUDENTIAL ASSURANCE COMPANY, LTD.,

HOLBORN BARS, LONDON.

Extracts from the FORTIETH ANNUAL REPORT for the Year ending 31st Dec., 1888.

ORDINARY BRANCH The number of Policies issued during the year was 42,475, assuring the sum of £4,399,769, and producing a New Annual Premium Income of £235,487.

The Premiums received during the year were £718,848, being an increase of £183,717 over the year 1837.
The Claims of the year amounted to £210,056.
The number of Policies in force was 146,966.

INDUSTRIAL BRANCH.
The Premiums received during the year were £3,256,346, being an increase of £197,845.
The Claims of the year amounted to £1,231,186. The number of Deaths was 142,751.
The expenses are one-and-a-quarter per cent. lower than those of the previous year.

It is a source of much satisfaction to the Directors to be able to state that their efforts to promote the stability of Industrial Policies continue to be most successful, for, notwithstanding the enormous increase in this Branch during the past two years, the average duration of the 8,063,293 policies in force on 31st December last is now no less than six years.

Upwards of 40,000 Free Policies have been granted during the year to those policy-holders of five years' standing who nave desired to discontinue their payments. The total Assets of the Company have been raised during the year from :£7,867,103 to 23,302,007, being an increase of £1,434,903.

THOS. C. DEWEY, WILLIAM HUGHES, Managers, 1 W. J. LANCASTER, Secretary.

The last Reports can be obtained upon application to the Secretary.

Pump Court

Vol. VIII.

LONDON, WEDNESDAY, MARCH 20, 1889,

No. 126.

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personal affairs of the lawyer. Not a hundred miles from PUMP COURT.

this office is a lawyer who can, in his own person, verify the

truth of this, and was punished for the same by the loss of The Temple Newspaper and Review.

between three and four thousand pounds, until he thought it was high time for him to begin to look a little after his own affairs, instead of leaving them entirely to other people. There would seem to be some intrinsic weakness in the mental machinery of a man which prevents it performing the same duties for him that it is called upon to perform for others. So time out of mind we have heard that carpenters

live in the worst-built houses, and shoemakers' wives are 07191

the worst shod. Lawyers' own wills are the most frequent sources of litigation, as examples of which we may cite the case of Lord St. Leonards, admittedly the most eminent and able real property lawyer we have ever had, and the recent litigation in connection with the will of Edward James, Q.C. "I do not examine," said Sir Charles Russell, “ cheques or bills, when returned in my pass-book, to see that the indorsement is right. I am generally content to see that I

have a balance at my bank." Lord Justice Cotton, howCURRENTE CALAMO. ever, is one in a hundred, for he says, “I always examine

my cheques when they come back in my pass-book.” D: Loge; de Onnibus Rebus et Quibus lanı Aliis.

The Land Registry Office has been very properly denounced. Two lawyers, one à barrister and the other a

solicitor, spoke with no uncertain sound in the House of From time to time, we have indicated, from the records

Commons on the vote for an increase for this office, and of the Probate Office, the enormous fortunes amassed by they but expressed the general feeling of the public who lawyers of both branches of the profession. Anyone that

have ever heard of this office. Mr. Haldane said, takes the trouble could make a very interesting collection.

experience of it has not been such as to place any high Here is a hint for Rare Bits. In this connection, we may

value on its work. In one case it had, owing to its system mention that the probate of the will of the late Richard of red tape, charged 6,600 for the transfer of an estate worth Bradshaw, of Stanhope Street, Hyde Park, and of Cornhill, but £3,000.” Mr. Fowler said: “The amount asked for solicitor, who died on January 22, aged 57, discloses the might be small, but it involved the question of one of the personality sworn for the purposes of the stamp duty, as

most useless and worthless offices in the whole range of being £156,747.

our administrative system ; only about eight titles a year were registered, and the office already cost £2,796 a year.”

And so say all of us. A few weeks ago, MERCATOR, in our Financial columns, expressed the opinion that if the law be powerless to prevent the formation of "rings” in food supplies, it is high time We understand that the paymaster of the Supreme Court the law were ashamed of itself. For the benefit of MER- has been officially notified that the account for payment of CATOR and his readers, we quote the obiter dictum of the commission claims by the Bank of England, under the Master of the Rolls and the remarks of Sir Henry James, Conversion Act of 1888, will be closed on the 31st. instant. in the course of the argument on appeal of The Mogul Any outstanding claims in connection with the conversion Steamship Company v. McGregor, Gow and Co. “It does of funds under the control of the Supreme Court should be not strike me as clear, if there is a combination to buy all rendered to the Pay Office by next Tuesday. the salt in the kingdom for the purpose of raising the price 70 per cent. beyond what it would be, I say I do not feel at all clear that that is not an illegal combination " (per

The result of the Prize shooting for 1888, in the Inns of Lord Esher, Master of the Rolls).

Court Rifles has been announced. The Battalion Challenge “According to the common law of America, and our Cup was won by Lieutenant Gibbons, with a score of 180 common law, it is illegal. All I can say is, if these syn

points. The Benchers' Challenge Cup, by Lieutenant dicates carried on their business in America, they would Sankey, with a score of 84 points. The Brewster Challenge have very sharp justice shown to them there" (Sir Henry Cup, awarded to Lieutenant A. Glen for making the highest James loquitur).

score in the winning Company (142). The St. Leonard's Cup, by Lieutenant Sankey, with a score of 73 points. The

James Cup, Lieutenant Simonds, 89 points. The Cotton “ARE not lawyers proverbially careless?” suggested the Cup, Lieutenant Timms. The Monthly Cup, Private Master of the Rolls during the argument on appeal of Pixley, 87. The Wimbledon Challenge Cup, decided by Vagliano v. The Bank of England. The learned judge was the scores made at Wimbledon in the Queen's Prize,' was prudent enough, however, to make a saving clause, and won by that most popular officer, Captain Drinkwater, of added, “until they become judges.” None of us on the F Company. Major Deane's Challenge Badge, by Private attached staff of Pump Court being yet on the Bench, we Browell, with a score of 188 points. The Aggregate Cross, are unable to say how far the qualification is true; but we

by Lieutenant Sankey. Lieutenant-General Sargent's Chalcan thoroughly endorse the main proposition, understanding lenge Cup for recruits, won by Corporal Dennis. Captain it, as undoubtedly his lordship intended it, to refer to the Edmund James Challenge Cup for A Company, won by

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Private Browell, with a score of 183. The Tomlinson Cup conveyance. The point involved in the present case was, for B Company, won by Private Percival, with a total score however, a novel one. The voluntary grantor was also ad. of 516. The Ford Salver for C Company, Colour-Sergeant ministrator; as administrator by Victorian Law, it was his Spencer. The Company Brewster Challenge Cup for D duty to sell, and distribute the proceeds if he sold; in disCompany, by Private Streeten. The Liverpool Challenge charge of his duty as administrator, he would have (there Cup for competition in signalling, won by Corporal Lee. then being an alienee for value, claiming through the volunAggregate Prizes, Lieutenant Gibbons, Lieutenant A. Glen, tary grantee) put an end to his power of defeating, as Private Browell. Winners of Company Third Class Handi- voluntary grantor, the voluntary conveyance. On the cap Pewters, Private Carey, Sergeant Pollock, Private other hand he was administrator, as such bound to sell, Roper, Sergeant Macmorran, Private Martin, Lance-Cor- and as the Court held, if the second conveyance to Tangye poral Antrobus. The programme and general conditions were bona fide and for value, guilty of a breach of trust in of the prize shooting may be obtained by members at the selling. Headquarters in Lincoln's Inn.

Yet another decision on the question of the enjoyment

of light, this time by the Court of Appeal, on an appeal The law of betting has received further elucidation in the case of Cohen v. Kittell (of which we give a short note

from a judgment of Mr. Justice North. The case was that

of Presland v. Bingham, which was an action brought by elsewhere in this number). As the law stands, where a commission agent makes bets on instructions from a prin- Presland to restrain the defendant Bingham from building cipal, and such bets are won and paid to him, the principal and for damages. The defendant did not deny that the

so as to obstruct the access of light to the plaintiff's skylight, may

maintain action against the agent for the amounts so paid, as for money had and received to his use. Where

plaintiff's light was an ancient light, but the defendant ihe bets made are lost and paid by the agent, such agent alleged that he had not had uninterrupted enjoyment for can recover the amount paid by him from the principal. twenty years; and the defendant relied on the fact that he

had been in the habit of piling up in his yard where he was It is at this point (in its practical importance at least) that Cohen v. Kittell comes in. What if the agent, though in

now building, packing-cases which were from time to time structed to make certain bets, neither refuses to accept the

removed, but which sufficiently interrupted the light to commission nor makes the bets? It is clear that neither

prevent the plaintiff from acquiring a right to light. The

evidence showed that the packing-cases were sometimes agent nor principal could maintain an action to recover the

twelve or fourteen feet above the then existing wall, but amount of any bet made and won, against the bookmaker.

there was no distinct evidence as to the time during Accordingly, the Court decided that no action would lie

which they remained there before they were taken away. for not making contracts on which, if made, no action could be maintained. In practice, save with a discriminat

When the case came before Mr. Justice North, that learned ing jury, the two doctrines, (1) that for bets lost and paid judge held that the packing-cases caused an interruption the agent is entitled to indemnity from the principal ; (2)

within Section 4 of the Prescription Act (2 and 3 W. 4, c. that if , in disregard of instructions, the agent does not make

71) and dismissed the action. As might be expected, this the bets, which if made would have been won, no action

decision hardly appeared very satisfactory to the plaintiff,

and he accordingly appealed. will lie against him, will afford an opportunity to unscrupulous commission agents of "standing on velvet” by treating paid lost bets as made for their clients, and won bets as In the Court of Appeal, the case came before Cotton, for themselves. No doubt, however, commission agents Lindley, and Lopes (L.JJ.), and they took a different view will be too wise to risk loss of custom by unreasonable

of the matter. The learned judges of the Appeal Court neglect or refusal to make bets, or by setting up such a held that the fluctuating interruption caused by the packingdefence.

cases was not such an interruption as was contemplated in

the 4th section of the Prescription Act. They therefore An important point was decided by the Judicial Com- held that the plaintiff was entitled to succeed in his action, mittee of the Privy Council (on appeal from the Supreme and granted an inquiry as to damages. This seems to be Court for Victoria) in Harding v. Howell

. By two inden- clearly a much sounder view of the law; as, if any intertures the appellant had conveyed certain freehold estates ruption such as placing packing-cases were allowed to in Victoria to the respondent and his heirs, to hold to the deprive a man of his right to light, there can be little doubt use of M. L. Harding and her heirs. The deeds stated that great inconvenience would arise, and that it would be pecuniary considerations, but one in fact, as was admitted, necessary to watch much more closely than at present the voluntary conveyances. M. L. Harding died in 1882,

proceedings of one's neighbours which at all interfere with intestate, leaving her husband (the appellant) surviving, and any rights to light. two brothers, the respondent and Howell, next-of-kin. An interesting point recently came before Mr. Justice There was considerable delay in taking out administration, North, in the case of Re Bowes, Earl of Strathmore v. Vane. which was caused by the appellant, but at length in (By-the-by, we suppose this is the celebrated Bowes who October, 1883, he obtained administration to his deceased fought the duel, and is the hero of that celebrated case of wife. This was under the Victorian Administration Act of Strath more v. Bowes). The action was an administration 1872, whereby the administrator took the intestate's real action. The testator had some assets in France, in which estate from the day of the deceased's death in the fullest country his widow was residing.

She claimed to prove possible manner, with statutory powers and duties, whereby under the administration judgment, as a credit or of the he was to realise, inter alia, the real property, and after pay- testator in respect of two sums of £2,400 and £10,0co. ment of debts and liabilities, distribute the surplus amongst In respect of both these debts, she had obtained security in the next-of-kin. Up to the date of obtaining the grant of France, by means of an attachment or sequestration under administration there had been no bonâ fide sale for value French law upon the testator's French assets. The Court made by the appellant of the property, voluntarily conveyed held that the claim as regarded the £2,400 was barred in by him to M. L. Harding. He had, however, made a England by the Statute of Limitations, but admitted the conveyance purporting to be bonâ fide and for value to one claim for the £10,000. It was then contended on behalf Tangye, but on an issue directed and tried in 1885, the of the executor that the widow must bring into hotchpot the jury found that this conveyance to Tangye was not bona fide proceeds of her security as regarded the £2,400, before she or for value. The appellant then swore that he had, since could be admitted to receive any dividend in the English the issue tried, granted bonâ fide and for value to Tangye administration in respect of the £ 10,000. Counsel for the the lands in question. Now by the construction which has executor relied on dicta of Mr. Justice Pearson in Re Klæbe been put on 27 Eliz., C. 4, a voluntary conveyance is treated (28 Ch.D., 177), in support of their contention. Mr. Justice as fraudulent and void against a subsequent bonâ fide pur- North, however, held that the ciaimant was entitled to the chaser for value from the grantor of the lands conveyed. benefit of whatever she received from her security in France If, however, prior 10 sale for value by the grantor, the in respect of the £ 2,400, and that she was under no obligavoluntary grantee has aliened for value, the alienee for value tion to bring those proceeds into hotchpot as regarded the of such voluntary grantee has a title which the voluntary £10,000. His lordship ruled that the dicta of Pearson (J.) grantor cannot defeat by a subsequent bonâ fide sale and in the above case did not apply to the case under discussion.

Star Life

be the subject of a copyright), so that if Mr. Peters had COPYRIGHT IN LAW REPORTS.

violated that right, Mr. Wheaton was entitled to redress." This seems to us to be a proper view of the decision in

Wheaton v. Peters, and that decision is an application where JUDGMENT OF BLATCHFORD (J.).

a reporter receives a compensation for salary from the CALLAGHAN v. Myers. UNITED STATES SUPREME Court.

Government as where he does not, in the absence of any

restriction against his obtaining a copyright. The general (Continued from p. 210.)

proposition that the reporter of a volume of law reports can The Court remanded the case to the Circuit Court obtain copyright for it as an author, and that such copyright for a trial by a jury as to whether there had been a will cover the parts of the book of which he is an author, compliance with the above-named requisites of the Act although he has no exclusive right in the judicial opinions of Congress. In a note by Mr. Peters, at page 618 of published, is supported by authority: (Curt. Copyr., 131, the report of the case, he states that he has been informed 132; Butterworth v. Robinson, 5 Ves., 709; Cary v. that the Court did not consider the point whether reports Congman, 1 East, 358 and note, 362; Mawman v. Tegg, of the decisions of the Court, published by a reporter ap

2 Russ., 385, 398, 399; Hodges v. Welch, 2 Ir. Eq., 266, 287; pointed under the authority of an Act of Congress, were Lewis v. Fullarton, 2 Beav., 6; Saunders v. Smith, 3 Myl. within the provisions of the law for the protection of copy.

and C., 711 ; Sweet v. Benning, 16 C. B., 491; Jarrold v. rights. When the suit was brought, Mr. Wheaton had Houlston, 3 Kay and J., 708, 719, 720). published the twelve volumes of his copyrighted reports. The allegation of the bill was that the volume complained of, published by Mr. Peters, contained all the reports of

INSURANCE. cases found in the first volume of Wheaton's Reports. It appears from the report of the case, and the record in it, that Mr. Wheaton had published his first volume in 1816, and

The Star is in the ascendant. At its 45th his twelfth volume in 1827. From March 3, 1817, for three

annual meeting, which was held at the

Assurance years, the reporter had a salary of 1,000 dollars a year, and

Cannon Street Hotel, on Wednesday last,

Society. the same salary from the May 15, 1820 to March 3, 1826,

the 13th inst., the directors' report, and the and for three years from February 22, 1827. The decree result of the 9th quinquennial valuation, were presented to of this Court, providing for a trial by a jury (p. 698), covered the share and policy-holders, who have every reason to feel the entire twelve volumes of Wheaton's Reports. If this satisfied at the information therein contained, and to conCourt had been of opinion that there could not have been gratulate themselves upon their connection with this Office. a lawful copyright in the volumes of Wheaton's Reports, it The Star has been steadily progressive since its inception. would have been useless to send the case back to the Each succeeding quinquennium has shown substantial Circuit Court for an inquiry whether the conditions pre- increase in all prominent details, over its predecessor; and cedent to the obtaining of a lawful copyright,'under the Act it can be safely forecasted, that if, in the next ensuing five of Congress, had been complied with, especially in view of years, the amount of new business that has been secured in the fact that the opinion of the Court concludes (p. 668) the past can be sustained upon the same increasing ratio, with this statement: “ It may be proper to remark that this Office will be a leader in the front rank of the Home the Court are unanimously of opinion that no reporter has Companies. As it is, it is equal to any in benefits to policyor can have any copyright in the written opinions delivered holders; and its ever growing size attests that it is fully by this Court, and that the judges thereof cannot confer appreciated by the assuring public. In these days of keen on any reporter any such right.” Therefore the only matter competition, success is the best indicator of the desirability in Wheaton's Reports which could have been the subject of a Life Office. The success that has attended this one, of the copyrights in regard to which the jury trial was di- has been marked and increasing. rected was the matter not embracing the written opinions

The gross amount of new business secured of the Court, namely, the title-page, table of cases, head

New Business in 1888, was £1,294,655, covering 3,526

in 1888. notes, statement of facts, arguments of counsel, and index.

proposals for assurance. Of these, however, Such work of the reporter, which may be a lawful subject 611 were either declined or not carried out at the close of of copyright, comprehends also the order of arrangement the year, and 2,915 policies were issued for the assurance of the cases, the division of the reports into volumes, the of £894,330, the premium income on which amounted numbering and paging of the volumes, the table of the cases to £ 30,790. During the four preceding years of the cited in the opinions (where such table is made), and the quinquennium, commencing, with 1884, the new business subdivision of the index into appropriate, condensed titles, secured in each was respectively, £633,475-£719,015– involving the distribution of the subjects of the various £729,870, and £763,675 ;-thus showing a firm and steady head-notes, and cross-references, where such exist. A growth. The total new business secured in the first five years publication of the mere opinions of the Court, in a volume, of the Company's history was £ 690,277. Each succeeding without more, would be comparatively valueless to anyone. similar period has shown steadily increasing membership, The case of Wheaton v. Peters was decided at January both in number of policies and amount, and for the last Term, 1834. In Gray v. Russell (1 Story, 11), in 1839, quinquennial period the aggregate was £ 3,740,365. The Mr. Justice Story, in speaking of the question as to how total amount of assurance now in force being £9,973,637. far a person was at liberty to extract the substance of The mortality and claims during the past year have been copyrighted law reports, says (p. 20): "In the case of favourable, and within the average expected and provided Wheaton v. Peters (8 Pet., 591) the same subject was consi- for in the Society's Tables. Over £3,046,000 have been dered very much at large. It was not doubted by the Court paid in claims since its establishment. that Mr. Peters' Condensed Reports would have been an

The actuarial valuation of assets and

Valuation, infringement of Mr. Wheaton's copyright, supposing that

liabilities was carried out, as upon the two copyright properly secured under the Act, if the opinions previous occasions, by Mr. A. H. Bailey, Actuary of the of the Court had been or could be the proper subject of the London Assurance Corporation, and formerly President of private copyright by Mr. Wheaton. But it was held that the Institute of Actuaries. The summary of the transactions the opinions of the Court, being published under the for the five years showed the difference between income authority of Congress, were not the proper subject of private and expenditure to have increased the funds £633,038. copyright. But it was as little doubted by the Court The surplus existing over the estimated liability was that Mr. Wheaton had a copyright in his own marginal £408,918.

£408,918. As the basis upon which the liability was notes, and in the arguments of counsel as prepared and computed assumed the Hm Table of Mortality to represent arranged in his work. The cause went back to the Circuit the mortality of the Company, and the rate of interest Court for the purpose of further inquiries as to the fact assumed to be earned being 31 per cent.; this surplus, in whether the requisites of the Act of Congress had been the light of the stringency of the test, is extremely satiscomplied with or not by Mr. Wheaton. This would have factory. Of this amount £22,702 was recommended to be been wholly useless and nugatory unless Mr. Wheaton's retained, and £386,216 divided ;-£38,622 to the pro. marginal notes and abstracts of arguments could have been prietors, and £ 347,594 to the assured : thus giving nine the subject of a copyright (for that was the work which could tenths of the profits to the policy.holders. Mr. Bailey

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called attention to the following interesting items, which rejected." How comes it that this private citizen, as by his show that progression is the order of the day. During the signature he would have believe he is, is constantly solicitfive years the assurance fund had increased nearly 295 per ing business for another insurance office, and is constantly cent., the number of policies in force nearly 23 per cent., rejected ;” and why does he, a single individual, profess to and the premium income more than 22 per cent. Instead speak in the name of the whole people? We have seen of the expense account showing a concomitant increase, as editors appropriately enough head their correspondence is usually the case and expected, it is pleasing to note that column Vox populi, to indicate that the column is for the it had diminished, being 15-7 per cent. upon the premiums general public, and not for the writings of the staff; but on during the five years, against 16'5 per. cent. during the what principle a writer, setting forth his views, should sign preceding five. We should also mention that the bonuses himself Vox populi, it passeth all our efforts to determine. I am to policy-holders showed an increase of 25. 6d. per cent. constantly rejected." Are we to say hinc illa lachrymæ ? over that declared in 1884.

Does this furnish the true reason for the spiteful letter ? A report of this nature is calculated to boom the affairs Another circumstance perplexes us. Why was the letter of the Society along at an increasing speed, and on a con- placed as the first article in the paper? It is not usual stantly ascending scale. We are, therefore, well grounded to place the letter of a single writer from the outside in our expectations to see the magnitude of this bright public before all the articles in a journal. Can any of our particular Star grow greater, and its brilliancy become more readers tell us of any other journal in which this is done? manifold.

Vox populi speaks “of the various articles that have from time to time appeared in your paper, as well as several

other insurance journals.” Since when, we should like to Whittington Life Our notice of the annual meeting of this

know, have the "populus" taken to reading insurance Assurance office, which was held on Monday, 11th inst., know, have the “populus Company. was unavoidably held over last week. The

literature so assiduousiy. Oh, Vox Populi! Vox populi ! thirty-fourth Annual Report which was presented to the

thy hand may be the hand of Esau, but thy voice betrays shareholders at that time is of a satisfactory nature, and

thee, it is the voice of the scheming Jacob. Next time you shows that progress is being made in the different items of

would have us believe that you are one of the disinterested importance to the Company. The funds at the commence

general public, and wish to sign Vox populi, you must ment of the year were £,183,157, and were increased £9,299

learn first the highest of all arts, the ars celare artem, and during that period, being the sum of £192,456, Dec. 31,

then you must leave the British Equitable in peace for a 1888. This is an increase of over 5 per cent.

Death

season, and wing your shafts meantime for some other claims were within the average expectation of mortality

game. and amounted to £ 26,375; whilst the claims arising from

Did any one mention the name of Mr. Toots? Well, for the maturing of Endowment Assurances were £4,161.

the benefit of those misguided ones who are not readers of The premium income for the year was £ 53,054 ; and that

Dickens, we may inform them that Mr. Toots was a gentlefrom interest was £7,238.

man who was constantly writing letters to himself; but what The directors have been gradually developing a system

has become of Mr. Toots this deponent saith not. of Monthly Insurance Premiums, to suit the convenience of many who find annual payments, or even those made at

National The fifty-third annual meeting of the the ordinary subdivisions of the year, too onerous when

Provident called for in that way, but who can more easily spare,

members of this Institution was duly held at

Institution, out of limited incomes, the payments necessary to keep a

the Cannon Street Hotel, on the 26th ult., policy in force, when called for monthly. This is a great

when the report for the twelve months ending November 20, boon to a large class, and it is pleasing to note the directors

1888, was presented. This, on the whole, is satisfactory, have every reason to be well satisfied with the results so far.

though exception might be taken to the fact that the Mr. Carvell Williams, who presided, in his remarks to

amounts expended in commissions and expenses of manage

ment have steadily increased, year by year, for the past six the shareholders, stated that the revival in business of last year was being perceptibly felt.' The two months of

years, being, in 1883, £ 28,640, and last year amounting to the present year showing a marked increase in the new £40,784. Although the new business has shown a yearly business received, and the future (owing to the improved increase, it has not corresponded to this outlay. In point

of fact, the valuation of 1887 showed the sums assured and state of trade in general, and the continual advances being made by the working classes in an educational way, thereby showed these same items to be £10,119,109. This means

bonuses to be £11,050,656. In 1872, the valuation made making them more thrifty) gave promise of a material increase in the new business for the coming year.

that the Society had, in the first thirty-seven years of its It was urged that the monthly insurance business might only made a net increase of £931,547 during the sub

existence, attained to over £10,000,000 assured, and had be developed in another direction, in addition to that among the industrial classes, and that was amongst the

sequent fifteen years. There is no reason that this state of

things should exist, as is attested by the history of the numerous clerks in London, as well as throughout the

great American offices. The increase of the amount at risk, country. There is certainly a large field for this particular class of

after making all deductions, of one of these alone last year business. Many men who will not entertain the idea of

was equal to over £14,000,000. Competition has cerweekly payments, and who are deterred from taking on the

tainly a checking effect upon large volumes of new business, ordinary assurance on account of the payment down being favourably with that adopted by the Offices of the great

and the system of agencies at home does not compare more than can be managed in connection

with the ordinary Republic. Again, there are too many of the small-fry necessary expenses, will welcome this form of providing Offices that intercept and forestall a certain quantity of for their families; and we venture to predict, that when

business that would reap greater advantages to the assured once it has been properly introduced, the Whittington will

if accepted by such Offices as this one. not only bring great benefit to many who are now without

During the past year 1,602 policies were issued, assuring it, but will also materially benefit itself.

£534,200, the premium income on which was £21,584.

In the course of the year 424 members had paid the The Post Magazine opens its paper with a letter pro- inevitable debt to nature, on whose lives 556 policies had fessing to come from a member of the general public who been effected. Claims, with bonus additions, on this signs himself, Vox populi. Abundant intrinsic evidence is account amounted to £ 291,072. Endowment claims to afforded throughout the letter itself that the signature is the amount of £22,202 also matured during the year and what might be termed a literary fraud-that is to say, instead were paid. The amount of funds on November 20, 1887, of being the voice of the public it is the voice of an was £ 4,321,176. On the same date, 1888, they were insurance man. If the testimony afforded by the contents £64,337,259. The small increase is explained by the fact of the letter is to be relied on, we should say it was an that £115,000 had been distributed in bonus. It is a agent or canvasser for an insurance office. Vox populi says, true indication, nevertheless, that the Institution is not prothat the position of the British Equitable acts as a check gressing at a rapid rate.

As it is Mutual and has every upon the progress of the principle of insurance, and as a inducement to attract proposers, there must be some hidden result, “I have constantly found insurance is entirely cause that retards its progress.

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