Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
Analecta.
Liabilities . —To proprietors for 23 , 704 shares , unclaimed dividends , bonus , Protector 7 , 464 shares , bonus and interest , rent , and balance , 054 , 242 / . 0 s . 9 . d . Assets . —Alortgages , & c , being sums lent by the company , Three per Cent . Consols , Ditto Reduced , Three-and-a-Quarter , Consolidated Long Annuities , cash and bills on hand , stamps on hand , & c , houses in Old Jewry ancl Blackfriarsand agents' balances 654242 / . 0 * 2 d .
, , , . The Directors' report went on to say that the gentlemen present , formerly proprietors of the Protector Office , would observe that their income , stated in the last report at about 42 , 000 / ., was nearly 118 , 000 / . ; that instead of an annual surplus varying from 10 , 000 / . to 15 , 000 / ., they had 46 , 905 / . 14 s . Id . to add to their accumulations ; and that , in lieu of a property of about ] 60 , 000 / ., they possessed a fund of 651 , 242 / . And the gentlemen who had been accustomed to attend as proprietors
of the Eagle Company , would find their income half as much again as it was before , and their surplus nearly three times as much as it was tbe last year ; that in one year their property had been raised from 492 , 418 / . to 654 , 000 / ., and that these advantages had been attended with no greater increase in their permanent expenditure than about 1000 / . per annum . The general arrangements consequent upon the amalgamation of the
two companies , ancl the transfer of the business of another small Assurance Company , had been completed without a single adverse circumstance ; ancl nothing had arisen to diminish the satisfaction the Directors experienced in being enabled so materially to improve the position of all concerned . Amongst other sources of satisfaction , one arose to your Directors from their having in their power to deal with the bonus declared in
1847 in a manner more accordant with their own wishes , ancl with the spirit of the regulations . Instead of limiting participation in that division to the interest merely of the sum allotted of the ascertained surplus , they proposed to divide amongst the proprietors the allotted sum or bonus itself .
In the following years , and until the next division of profits , the bonus being paid off , the proprietors would receive interest at the rate of 51 . per cent , upon the amount of invested capital only . The Protector proprietors would no doubt have heard of the much to be lamented death of their late deputy chairman , Mr . Cripps , whose merits were so widely known and so thoroughly appreciated , that it would be a needless tribute to his memory to dwell upon them . The void which his loss has created will he long and deeply felt by all who knpw him .
The Directors had also to announce the sudden but not unlookedfor death of one of the Auditors , Mr . Campbell , a gentleman not less distinguished for the urbanity of his manners and the kindness of his disposition than for tbe diligence with which he discharged the duties for so many years entrusted to him . This event had occurred so recently , that it had not been practicable to take any steps to supply the vacancy . The Directors concluded by offering their sincere thanks for the
great confidence reposed in them , and expressing their determination to spare no exertion to merit a continuance of it . The following resolutions were afterwards passed : — 1 . That the report of the Directors he approved and confirmed , and
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
Analecta.
Liabilities . —To proprietors for 23 , 704 shares , unclaimed dividends , bonus , Protector 7 , 464 shares , bonus and interest , rent , and balance , 054 , 242 / . 0 s . 9 . d . Assets . —Alortgages , & c , being sums lent by the company , Three per Cent . Consols , Ditto Reduced , Three-and-a-Quarter , Consolidated Long Annuities , cash and bills on hand , stamps on hand , & c , houses in Old Jewry ancl Blackfriarsand agents' balances 654242 / . 0 * 2 d .
, , , . The Directors' report went on to say that the gentlemen present , formerly proprietors of the Protector Office , would observe that their income , stated in the last report at about 42 , 000 / ., was nearly 118 , 000 / . ; that instead of an annual surplus varying from 10 , 000 / . to 15 , 000 / ., they had 46 , 905 / . 14 s . Id . to add to their accumulations ; and that , in lieu of a property of about ] 60 , 000 / ., they possessed a fund of 651 , 242 / . And the gentlemen who had been accustomed to attend as proprietors
of the Eagle Company , would find their income half as much again as it was before , and their surplus nearly three times as much as it was tbe last year ; that in one year their property had been raised from 492 , 418 / . to 654 , 000 / ., and that these advantages had been attended with no greater increase in their permanent expenditure than about 1000 / . per annum . The general arrangements consequent upon the amalgamation of the
two companies , ancl the transfer of the business of another small Assurance Company , had been completed without a single adverse circumstance ; ancl nothing had arisen to diminish the satisfaction the Directors experienced in being enabled so materially to improve the position of all concerned . Amongst other sources of satisfaction , one arose to your Directors from their having in their power to deal with the bonus declared in
1847 in a manner more accordant with their own wishes , ancl with the spirit of the regulations . Instead of limiting participation in that division to the interest merely of the sum allotted of the ascertained surplus , they proposed to divide amongst the proprietors the allotted sum or bonus itself .
In the following years , and until the next division of profits , the bonus being paid off , the proprietors would receive interest at the rate of 51 . per cent , upon the amount of invested capital only . The Protector proprietors would no doubt have heard of the much to be lamented death of their late deputy chairman , Mr . Cripps , whose merits were so widely known and so thoroughly appreciated , that it would be a needless tribute to his memory to dwell upon them . The void which his loss has created will he long and deeply felt by all who knpw him .
The Directors had also to announce the sudden but not unlookedfor death of one of the Auditors , Mr . Campbell , a gentleman not less distinguished for the urbanity of his manners and the kindness of his disposition than for tbe diligence with which he discharged the duties for so many years entrusted to him . This event had occurred so recently , that it had not been practicable to take any steps to supply the vacancy . The Directors concluded by offering their sincere thanks for the
great confidence reposed in them , and expressing their determination to spare no exertion to merit a continuance of it . The following resolutions were afterwards passed : — 1 . That the report of the Directors he approved and confirmed , and