fBarrfage. On the 24th ultimo, at the Parish Church of Broadwater, Mr. James Osborne, jun., of Worthing, to Harriet Ann, third daughter of Mr. John Kettle, of Brecon. >
I STANDARD LIFE ASSURANCE COMPANY. t DIVISION OF PROFITS. EXTRACTS FROM THE REPORT BY THE DIRECTORS UPON THE INVESTIGATION OF THE COMPANY'S AFFAIRS, AND » DIVISION OF PROFITS, AS AT 15TH NOVEMBER 1865, SUBMITTED TO A SPECIAL GENERAL MEETING OF THE COMPANY, HELD 22nd MAY 1866. PROGRESS OF THE BUSINESS. period from 15th November 1860 to 15th November 1865, to which this Report bears reference, has been marked by very C great success in the progress T)f the Company's business; and the Directors have much pleasure in submitting to the Pecial Meeting now assembled an account of its operations during that period, with the result of the investigation into its Monetary position at the date of the Quinquennial Balance. The Reports submitted from year to year have no doubt to a great extent prepared the Proprietors for a favourable report "B this occasion, but before communicating the results of the Investigation, it will be well to recapitulate the results commu- nicated to the Annual General Meetings during the period under review :■— In the year 1861 the New Assurances effected amounted to £ 503,854 18 0 In the year 1862 the New Assurances.effected amounted to. 506,120 0 0 In the year 1863 the New Assurances effected amounted to 643,960 0 0 In the year 1864 the New Assurances effected amounted to 805,980 6 6 In the year 1865 the New Assurances effected amounted to • 1,374,450 X 0 (Inclusive of New Assurances effected by the Colonial Company during 1865 for behoof of the Standard Company, amounting to E400,255 19s.) In all £ 3,834,365 5 6 !gain, if a comparison be instituted between each Quinquennial Period during the last 20 years, the result stands as follows From 15th Nov. 1845 to 15th Nov. 1850, New Assurances £ 2,146,641 12 0 From 15th Nov. 1850 to 15th Nov. 1855, New Assurances £ 2,492,988 6 7 From 15th Nov. 1855 to 15th Nov. 1860, New Assurances £ 2,815,455 3 0 From 15th Nov. 1860 to 15th Nov. 1865, New Assurances (inclusive of £400,285 19s., the business transacted by the Colonial Company in the year 1865 for behoof of the Standard) £ 3,834,365 5 6 This comparison evinces most distinctly, and in a marked degree, the steady satisfactory progress of the Company; and 4 these amounts do not include any assurances derived from other than purely home sources, with the exception above mentioned in 1865, the business may be regarded as the results entirely of the Company's ordinary operations, and be taken as It correct test of its progress and development as one of the great provident Institutions of the country. Large as these sums "re, they could have been greatly increased had the Company entertained second-class investments in connection with which Assurances are frequently offered as an inducement; but the Directors have not entered on that kind of business, and they are therefore entitled to designate their transactions as first-class, purely and entirely. But the Directors have secured large accessions to the Company's business during the Quinquennial Period from other QAN ordinary sources. IN 1864 the MINERVA Life Assurance Company, an office of high respectability and good position in London, feeling that X their endeavours to extend their business were not attended with so much success as they anticipated, resolved to transfer their business to an Office whose position, influence, and standing would ensure for their Policyholders a reliable Prospect of continued advantages for the future from a prosperous and increasing business and an overture was made to the to undertake the responsibility. The negotiation for a transfer of the business, was conducted with the utmost CAUtion, an agreement was carried out, and the results which have hitherto developed themselves in the course of the business *° acquired have been most satisfactory. The details have already been communicated to the Proprietors. IN 1865 another Office of about the same standing as the MINERVA Company in point of business and resources, the X VICTORIA Life Assurance Company of London, resolved, for similar reasons, to transfer its Policyholders to an older ndmore advancing Institution, and the STANDARD was again selected as affording the requisite qualification for the important trust. This important acquisition was also reported to the Proprietors on a former occasion. "DOTH Institutions have brought valuable connections to the Company throughout the kingdom more esDeciallv in England, and m that respect also a great advantage has been gained by these important acquisition™ P 7 Commnv with the SMJ ^TT WN PEN°D HAS YET T0 BE MENTIONED> VIZ.—The junction of the Colonial Life Assurance company with the SJIANDAHD. It IS quite unnecessary again to enter on the reasons which led to that important step thev FN.PR statements circulated among the parties interested, and were fully reported at the late nnual Geneial Meeting of the Company; but the Directors may be allowed once again to congratulate the Proprietors on this TH ♦ 011 successful completion of that desirable and important amalgamation. Every day shows how essential it was >AT these two Companies, so intimately connected from first to last, should not have been allowed to separate and become FISTIC. At home and abroad, Agents, Local Boards, and in manv instances the public press, have congratulated the J, lipany on the junction, and not one word of complaint from Policyholders or Shareholders in either Company has marred final completion of the union now harmoniously carried out. THESE, then, are the total results of the period, and the Directors can assure their Co-Proprietors that the transfer negotiations, which have been successfully carried out, as now reported, have cost them no small amount of trouble SEcure their safe, thorough, and satisfactory completion. FRNNTRTF *:RVA AND VICTORIA Offices having been dissolved, the chief advantage which the STANDARD Company will derive ai-PINDEPENDENTLY of their existing business, will be from the acquisition of new connections; and the Directors In THP RA TE THAT THEJT ARE NOW receiving the support, and reaping the benefit, of these connections in a marked degree. "WHILE IAL Company, on the other hand, a large and profitable field of new business has been opened up to the STANDARD COT a has teen secured through them which is influential not only abroad but at home, the supporters of the XONIAI. Company in the Colonies having come forward in the most acceptable and ready manner to interest their friends and respondents in this country in the STANDARD Company. The Revenue of the STANDARD Company was in 1845 zCI03,371 3 5 ». 1850 £ 169,15116 4 « » 1855 £237,480 1 9 »» » ,,1860 £ 304,161 13 7 » » 1865 £661,195 0 0 The FUNDS at the date of the Valuation amounted to 93,651,683. THE INVESTIGATION. TW1!? IN"?ES%ATION has been made at this time into the affairs of the VICTORIA Company and of the COLONIAT, Company, as SUBJECTED to special investigations for the Division of Profits within short periods before the transfers were RINJIS ITHE VLCTONA Company at 31st December 1863, and the Colonial Companv ai 25th May 1864) and it was thought a A IV? M°RF CITABLE arrangement that the Policyholders in these Offices shouid merely receive on the present occasion PROPORTION of the previous Bonus for the periods between their last dates of Division of Profits and 15th November 1865 DIVJT MVESTI £ ation now to be reported, therefore, has reference solely to the STANDARD and MINERVA Companies, and the DIRECTORS request particular attention to the explanations and results now to communicated. PRINCIPLES OF VALUATION. EARY^o^ertShlnosft^0 £ e Actuary of the Company, has, with his assistants been engaged with the calculations neces- results are now laid 0nS?H Company's affairs for more than twelve months, and the volumes containing the detailed been most carefully information of those who may wish to inspect them. These Valuations, which have the Directors are SASRT ?W D' HA7E B,EEN SUBMITTED to the Board M a most distinct manner, and fully explained, and The tables and data H EVERY CARE ^AS 1)6011 taken to secure the most complete accuracy. adopted by the Company thh-?^'6 same a5 werc employed in 1860, and at the four previous investigations. They were gratified to find tnat the largest ag0'- after much Tc^eful study anTd investigation; and the Directors are pleased and acknowledged the soundness of thp r„mosi ProsPer°us. Life Assurance Institutions in the country have, one .after another, The safety of the mode of vro V°mPany's conclusions by adopting the same basis. rate in excess of the mortality among ^R??,I.NVESTI^ATION ARISF .FROM employing a Table of Mortality which gives a death- interest, such as the Company can CONFISTLLV.ES> Pf°per care being used M selection and from the adoption of a low rate of Profit Carlisle 3 ner cent tables, WHICB F^J^1!1?16 ON realising at all periods, with the prospect of a margin for safety and have been as already remarked, FOT T £ RTV^,TLLE^H EF BASIS OF THE Company's calculations, answer all these requirements, and their safe and reliable guide. Of equal importance is the question of what is assurpd nt death Out of this loading comes th £ entaf?e added to the premiums above the rate necessary to secure the capital Wments and'the selSon of liveSg This »» fu,»d for exPenses and Pro6t> bein* in add"ion 1° the P">ilt arising on dSaS^ont?s intent vdeDendCTeatlyttte an^18^ Point of 8reat importance, not less so than the question of basis or reserw madV^ ftirtun^elv Mt an arbitran^amonnt r(Juffh investigation of the affairs of an Assurance Company. The S3SH;,IFFLR,S='S™SI^S7R,S SS; ASYWASS Further, if the Company are to reahs a of only 1 per cent on their investments, which is now exceeded, the annual sum derived from that sourc of will raIse the, tQtal annual reserve to B126,000 per annum; this, too, exclusive of the profits arising from the selectIOn of lives and of the mterest Oil future accumulations of capital. INVESTIGATION COMMITTEE AND COMMITTEE ON INVESTMENTS. •« "»a One was designated the Investigation committee, and the other the committee on Investments These committees performed the duties entrusted to them with much labour and patient inquiry. the MH8 committee kept full ^H-CVERE REP°rted to teBoard in detail along with INE Manager's statements, so that every member of tfte ijoara was lully advised as to every Dart of the nrocepdina-s and mh\CTmltH th°n InVe'VmCv,ntS mfde a searcb'edeffAcco^ But C°mpany'8 Securities each deed was exhibited marked, and the amounts shown to agree with the Ledger Accounts. But the best evidence of thp carp hpstowed on the i&quiry is afforded by the Keport of the committee itself, which is as follows esl eviacnce of the care bestowed on tne T? EPORT by THOMAS GRAHAM MURRAY, Writer to the Signet; HARRY MAXWELL INGLIS Princinal Clerk of Session • nfrppw 'IfRfhIL^Writer t0Tthe Signet; and JrAn™yPtEo'Si^net-a'committee appointed by the Directors of the STANDARD LIFE ASSURANCE COMPANY to Examine and Report on the Securities held by the Com- pany as at 15th November 1865. 0 Examinations similar in principle to that now made by your committee have been made at the two M-pvinus INVPSHO-NKNN* in 1855 and 1860. The committee have followed put in practice the same rules then adopted. With the assistance of the Manager and Law Agent they proceeded to examine the whole Bonds MORT!?AP-P=! IND NTHPR Deeds and Documents constituting-or certifying the Securities held by the Company, and the Title-deeds of the Landed and other Heritable Properties belonging to the Company. These they examined separately and in detail, with the execution of a few English Securities, which, for sake of convenience, are at present retained M London, and which, bv direction of FLIP COM mittee, were examined there by the Law Agent, Mr. Russell, and by him certified in writing to the committee The'committee thus satisfied themselves that the Bonds, Mortgages, and Title-deeds in the possession of the Company represented and vonrhed the Invested Funds of the Company as stated in the certified Balance-Sheet of the Company, of date 15th November 1865 and they now report accordingly. I>uvxmoer iauo, ANA The committee have much pleasure in reporting that the Funds thus represented are invested in the most satisfactory way. As stated in former reports, the Investments consist of Land and other Heritable Property, Loans upon the security of Land constituted by bonds and dispositions in security, Redeemable Annuities heritably secured, Bonds of Annual Rent and Mort- gages, Government Securities, Loans upon Policies with the Company to an amount within the surrender value, and other investments. The committee have also much pleasure in adding, in repetition of the statement in the last Report, that they found the ^HOLE papers of the Securities in excelleut order, and easily accessible for examination—A matter of no slight importance when dealing with securities representing so large an amount T. G. MURRAY. H. MAXWELL INGLIS. ANTHONY TRAIL. JAMES HOPE JVN. EDZNSVSGH, 25th April 1860. ■'t (See next Column.) • •■■■ ■ '( .1 ■ i:!> A THE DECLARATION of the BONUS followed, and the ADDITIONS to the POLICIES of the STANDARD COMPANY are exhibited in the following TABLE :— TABLE SHOWING THE BONUS ADDITIONS TO POLICIES Declared from the Profits of the Company realised during the Five Years ended 15th November 1865. BONUS ADDITIONS DECLARED. Date of Sum Total Sum in Policy, Policy prior in Policy. Bonus Additions. with to 15th Nov. Previously to 1865. In 1865. Bonus Additions. 1825 £1000 214400 0 £ 287 0 0 JE1727 0 0 E2727 0 0 lif !6 1000 1375 0 0 280 0 0 1655 0 0 2655 0 0 1827 1000 1310 0 0 273 0 0 1583 0 0 2583 0 0 1828 1000 1245 0 0 266 0 0 1511 0 0 2511 0 0 1829 1000 1180 0 0 259 0 0 1439 0 0 2439 0 0 1830 1000 1115 0 0 252 0 0 1367 0 0 2367 0 0 1831 1000 1050 0 0 245 0 0 1295 0 0 2295 0 0 1832 1000 .985 0 0 238 0 0 1233 0 0 2223 0 0 1833 1000 920 0 0 231 0 0 1151 0 0 2151 0 3 1834 1000 855 0 0 224 0 0 1079 0 0 2079 0 0 1835 1000 790 0 0 217 0 0 1007 0 0 2007 0 0 1836 1000 725 0 0 210 0 0 935 0 0 1935 0 0 1837 1000 672 10 0 203 0 0 875 10 0 1875 10 0 1838 1000 620 0 0 196 0 0 816 0 0 1816 0 0 1839 1000 567 10 0 189 0 0 756 10 0 1756 10 0 1840 1000 515 0 0 182 0 0 697 0 0 1697 0 0 1841 1000 462 10 0 175 0 0 637 10 0 1637 10 0 1842 1000 422 10 0 168 0 0 590 10 0 1590 10 0 1843 1000 382 10 0 161 0 0 543 10 0 1543 10 0 1844 1000 342 10 0 154 0 0 496 10 0 1496 10 0 1845 1000 302 10 0 147 0 0 449 10 0 1449 10 0 1846 1000 2(i2 10 0 140 "0 0 402 10 0 1402 10 0 1847 1000 235 0 0 133 0 0 3GS 0 0 1368 0 0 1848 1000 207 10 0 126 0 0 333 10 0 1333 10 0 1849 1000 180 0 0 119 0 0 299 0 0 1299 0 0 1850 1000 152 10 0 112 0 0 261 10 0 1264 10 0 1851 1000 125 0 0 105 0 0 230 0 0 1230 0 0 1852 1000 108 0 0 98 0 0 206 0 0 1206 0 0 1853 1000 91 0 0 91 0 0 182 0 0 1182 0 0 1854 1000 74 0 0 84 0 0 158 0 0 1158 0 0 1855 1000 57 0 0 77 0 0 134 0 0 1134 0 0 1856 1000 40 0 0 70 0 0 110 0 0 1110 0 0 1857 iooo 32 0 0 63 0 0 95 0 0 1095 0 0 1858 iooo 24 0 0 56 0 0 80 0 0 1080 0 0 1859 1000 16 0 0 49 0 0 65 0 0 1065 0 0 1860 iooo 800 42 00 50 00 1050 0 0 1861 1000 35 0 0 35 0 0 1035 0 0 1862 1000 28 0 0 28 0 0 1028 0 0 1863 1000 21 0 0 21 0 0 1021 0 0 1864 1000 14 0 0 14 0 0 1014 0 0 186a iooo 7 0 0 7 0 0 1007 0 0 Bonus additions do not vest until the Policies have been in existence for five, years from the date of the risk commencing. A Bonus was also declared in connection with the Policies 6f the Minerva Life A ssurance Company. WILL. THOS. THOMSON, Manager. H. JONEfS WILLIAMS, General Secretary for England. DUBLIN. EDINBURGH LONDON. 66 UPPER SACKVILLE ST. 82 KING WILLIAM ST EC 3 and 5 GEORGE STREET t>i'' JkU GLASGOW. (HEAD OFFICE) West End Office: 106 &68 ST. VINCENT STREET 1 j 3 PALL MALL EAST. Agent for Brecon-JOHN EYANS, Post Office. W. AND H. M. GOULDING, MANURE MANUFACTURERS, 108, PATRICK-STREET, 13, WESTMORELAND-STREET, CORK, CORK DUBLIN, GUARANTEE all their Manures equal to their Published Analyses. W. and H. M. G. manufacture three kinds of Manures- lst-GOULDINGIS SPECIAL MASTTRE, Composed of Dissolved Bones, Blood, Potash, &c. For Wheat, Oats, Barley, Potatoes, Grass, &c. 2lid-GOTJLI)INGIS BONE MANURE. This Manure is specially adapted for the growth of Green Crops,and will be found invaluable for Turnips. 3rd-GOTTIBINGIS SUPERPHOSPHATE OF LIME. This Manure contains 26 to 28 per cent. of Soluble Phosphate. It is suitable to mix with Peruvian Guano, and will, in conjunction with it, grow a crop at half the usual cost. Prices and Analyses, giving the Composition of each Manure, with our Pamphlet and Testimo- nials for this year, can be had of the Undersigned, or any of our Authorised Agents. 0 W. and H. M. G. invite applications for their agency in districts not yet represented. AGENTS The South Wales Coal Company-Hereford and District. AG RIOULTURAL SEED AND MANURE: DEPOT, WATTON, BRECON. W. M. BRIEN EGS to inform his Agricultural Friends and Patrons, that he has succeeded in procuring a I choice Selection of genuine CLOVER and GRASS SEEDS for this Season, which are now ready for inspection. Agent to the Western Counties Manure Company's SUPERPHOSPHATE OF LIME.—This article has won for itself a high reputation, and has given universal satisfaction during the past eight years. Price— £ 7 per ton. AMMONIACAL OR BLOOD MANURE, specially adapted for Potatoes, Mangold, Corn, and Grass. Price-X7 10s. per ton. A liberal Discount for Cash. BRISTOL I PACKET IL COMPANY. JOHN PROTHERO Respectfully informs the inhabitants of the Town of Brecon and neighbourhood, that he has just taken to the old established and well conducted Carrying Business of the late Mr. W. Thomas, and that all goods intended for conveyance by his Boats, which will arrive in Brecon from Newport every other day, will receive his prompt attention. All goods to be conveyed by Prothero's Boats, from London, per Great Western & South Wales 'Railway" Newport, from Liverpool, Manchester Birmingham, and from the North of England, per "London and North Western" to Newport, thence per PROTHERO'S BOATS, and all goods from Bristol, per "Burton's Bristol Packet." Goods carried and delivered with care and at moderate charges. No more complaints of delay in delivering goods.—Prothero's Boats will wait the arrival of the Packets at Newport, and be despatched with promptness to Brecon three times a week. Brecon, Ist Oct., 1863. [A CARD.] m KING-, COACH MAKER, Lion Street, and Saint Michael Street, Brecon.. Repairs neatly executed at moderate charges. PERAMBULATORS, REPAIRED AND MADE TO ORDER. (It, • WHITTINGTON LIFE ASSURANCE COMPANY. CAPITAL 100,000, With power to increase to One Million. (Established 1855.) ALL kinds of Life Assurances effected. Immediate and deferred Annuities, Term Assurances. Invalid lives assured on equitable terms; Free policies to those who cannot continue their payments after 5 years. Low rates and liberal Bonuses. For particulars and prospectuses apply to the Agents. AGENT AT BRECON Mr. Williams, chemist, High Street. LLANGYNIDER Rev. F. Evans.: Manager for South Wales—J. Bailey, Stuart Hall, Cardiff. COMMITTEE OF REFERENCE FOR SOUTH WALES. David Joseph, Esq., Ely Rise, Chairman. Rev. T. Price, M.A., Ph.D., Aberdare. Rev. r. Rees, D'D., Swansea. Rev. C. Short, M.A., Swansea. John Carr, Esq., Cardiff. Richard Cory, Jun., Esq., Cardiff. W. AND G. PINDER'S GREAT INTERNATIONAL CIRCUS AND HIPPODRAMATIC ARENA, FROM the Crystal Palace, London, unequalled for talent and magnitude, will visit BRECON, WEDNESDAY, JUNE 20th, at the CATTLE MARKET, for one. day only. Most powerful array of attraction Special notice First provincial tour of the great ADA MENKIEN, (late pf Astley's Royal Amphitheatre, London,) who is engaged, regardless of expense, for a limited period: The above Great Artiste will appear in her arduous and thrilling impersonation of MAZEPPA or,-the Wild Horse of Tartary, as performed by her three hundred consecutive nights. The Pifss and the Thousands who have already wdttfess&d this gorgeous and magnificent production, pronounce it the ne plus ultra of all Circus enter- ^inmento, and will be found to eclipse all other establishments now travelling for novel, gorgeous, costly, .jmu diversified amusements. Notice.—So that the public may goyar4 against the impositions practised by minor establishments preceeding this monster exhibition in its tour through the country, it will be known by the Grand and Gorgeous Procession, which will start from the Circus at one o'clock, (weather permitting) headed by the Splendid Brass Band. The Public will please to take notice, that in order to avoid the crowds attending Evening Per- formances, and with a view of accommodating those who prefer going to the Circus in day time, and Families residing at a distance, a MORNING PERFORMANCE will be given at Two o'clock, the Prices of Admission being the same, and the Entertainment equal in every respect tb that given in the Evening. Schools liberally treated with. First Class Seats, 2s.; Second Class Seats, Is. A rena, 6d. Morning performance at Two o'Clock, Evening at Seven, to commence at half-past. Children un- der Ten years of age, Half-price to first and second class seats only. PROPRIETORS.Messrs. PINDER. TUESDAY, JUNE 19TH, IS THE LAST DAY FOR TICKETS. 1866.—Thirteenth Season.—1666. ART UNION OF GREAT BRITAIN. ONE SHILLING PER SHARE. 1 222,320 Tickets have been sold in the twelve -M previous drawings, and 13,802 PRIZES dis- tributed, including 3,439 Paintings, in amounts varying from 200 guineas downwards, being ONE PRIZE in each 88 Tickets. The DRAWING for PRIZES will take place ON SATURDAY, JUNE 30TH, 1866, and will consist of upwards of TWELVE HUNDRED PRIZES. "THE OUTLAW'S WooTNG"(lst Prize) Thos. Heaphey £ 150. "THE FISHERMAN'S RETURN "(2nd Prize) E. Holntes XIOO. "NEAR CAPEL CURIG, N. Wales.(3rd Prize) Mrs. J. W. Brown. £ 84. "MAKING FOR PORT' .(4th Prize) W. H. Williamson. £ 7 3 10s. In the Exhibition of Works of British Artists, Manchester, and about 250 other Paintings, from £70 down. [Particulars in Prize Lists.] Tickets, ONE SHILLING each, entitling the holder to one chance in the drawing, may be had from the undermentioned Agent; or will be for- warded direct by the Secretary on receipt of enve- lope, (stamped and directed) together with postage stamps or post-office order for the number of Tickets required. JAMES G. LAW, Secretary, 39, Oxford-street, Manchester. LOCAL AGENT: MR. D. WILLIAMS, "REPORTER" OFFICE. BBEOON. TO BE LET, an old-established and respectable WINE AND SPIRIT BUSINESS, in the most central part of the town. The Business is one of the oldest, and Irom the position in which it is situated, cannot help retaining its usual cus- tom. An excellent opportunity is offered to any parties who would wish to accept the offer of a comfortable business. The Stock is not heavy, nor the fixtures over expensive.—Application to be made to MRS. PARRY, Bunch of Grapes, oppo- site the Old Bank, Brecon. rpO BE LET, and entered upon the 29th of September next, the INN, called and known by the name of the ROSE AND CROWN, with convenient Outbuildings, consisting of Stables, Piggery, &c., also a good productive Garden.—For particulars apply to MRS. JONES, Greenfield Cot- tage, Brecon. ry,O BE EET, with immediate an l old-established GROCERY AND CONFEC- old-established GROCERY AND CONFEC. TIONERY BUSINESS, situate in Ship Street, Brecon.—For particulars apply at the Office of this Paper.