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I LOCAL & DISTRICT NEWS

$OF A, CATHOLIC PRIEST /—…

THE PRUDENTIAL ASSURANCE COMPANY.

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THE PRUDENTIAL ASSURANCE COMPANY. A magnificent treatment appears in the Com mrrrinl World of the first instant of the highly prosperous affairs of the Prudential Assurance Co., the Annnal Statement of which appears in our advertising columns this week. There is no standing still, it is pointed out, in the affairs of this perfectly organised institution. In good seasons and in bad, the company equally prospers, and its ever-active representatives annually gather in a harvest which places it further and further in advance of all other British life offices. \The management of the Prudential i goes on adding to the financial strength of the company, and thereby ensures its permanence and stability for all time. The Ordinary branch continues to exhibit extraordinary growth. In the past year, 54,558 policies were issued, assuring the sum £ 5.627.065, and producing a new annual income of £ 304,928. It will seen, therefore, that that the Prudential is increasing its Ordinary policyholders at the rate of more than l.ODO each week. The enduring character of the business may be gathered from the next item in the report which sets out that the premiums received in the Ordinary branch during the year were £ 1,854.370, being an ipcrease of £ 188,759 over the* year 1^92. No better testimony than this could be adduced as to the high quality of the business on the books. Interest and rents brought £231,713 into the account, and with £ 72,668 consideration for aunuities granted, raised the total income of the branch to £ 2,158.751. This last figure is particularly important. It means that, resarded purely as an Ordinary office, the Prudential now possesses an income almost double that of any other British life office. Claims aris- ing by the deaths of 3,397 policyholders, and 154 endowments matured, absorbed £ 478,564 the amount paid to policyholders being further inereas- el by £52,990 cash bonuses. Surrenders were granted to the amount of £53.177, and annuitants took £59,566. After providing for expenses of management and commission at the extremely moderate rate of 10 per cent., and writing £ 1,000 off the cost of buildings, the funds of the Ordinary branch were increased by £1,301,018 to £8,001,707. It may be noted here as an interesting fact that the funds of this branch have been more than doubled in five years. In 1893, the premium collections of the Induslrial branch were barely short of four millions sterling. The exact figures were £ 3.971,863, this amount showing an increase of £ 122.700 over the premiums of the preceding year. The premiums in this branch during the past year averaged more than £ 76.000 per week while on the policies actually in force at the present time, numbering 10,476.393, the premiums receivable are £ 80,094 per week. Truly may the com- panyclaim to bea^V«f ional institution. Theaverage duration of each industrial policy now in force is seven-and-a-quarter years, this most satisfactory condition of affairs showing that the undoubted advantages offered by the company are becoming increasingly appreciated by its immense con- stituency. That generous feature of the company's operations, whereby policyholders of five years' standing, who so desire, can discontinue paying their premiums, and are granted a free policy, has again been largely availed of, no less than 55,764 such policies having been granted during the year. There are now 338,272 of these policies in force. The claims of the year amounted to £ 1.662.768, by 185.103 deaths and 1.276 endowments matured. During each and every working day of the year 1893 this one company received on the average nearly 600 death-notices, and settled the claims made upon it with regard thereto. It is a great work, and one that deserves the cordial support of every thinking man in the kingdom. The exceptional rate at which this great company has added to its financial resources during the past ten years may be gathered from the fact that while at the end of 1883 the total funds, exclusive of shareholders' capital, were £ 3,626.649, at the end of 1893, the total funds, again exoluding capital, amounted to £ 17,900,540, no less than £2,125,588 having been added in the last twelve months. This is a striking example of the axiom, NOTHING SUCCEEDS LIKE SUCEESS."

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