Towns > Glasgow > 1828-1912 - Post-Office annual Glasgow directory > 1847-1848

Advertisements, 130
SCOTTISH WIDOWS ' FUND LIFE AS SUBANCE SOCIETY.
At the Thirty-Third Annual General Codrt of the Society, held on the 2nd
March, 1847.
The HON. LORD COCKBURN in the Chair,
The Manager read various statements, showing, inter alia,
That the AMOUNT of INSURANCES effected during the year ending 31st
December, 1846, was £44*7,200, — and the number of Policies 617, — being on
an average of about £730 for each Policy.
That the AVERAGE AMOUNT of INSURANCES effected ANNUALLY
during the last ten years had been upwards of HALF a MILLION.
That the CAPITAL arising from the accumulation of the Annual Premiums
was at the same date, £1,805,860 Os. 9d., having increased during the year
to the extent of upwards of £121,000.
That the ANNUAL REVENUE was at the same date £266,364 13s. 7d.,
having increased during the year to the extent of upwards of £17,400.
Lord Cockburn — after special reference to the results shown in the above State-
ments — thus concluded his Address to the Court: — "Now, these are facts to which
we are entitled to look forward, not merely with hope, for nothing is more delusive
than hope, but with hope which is not confident but rational. (Heai", hear.)
I have only to add, that enormous as these sums are, and dealing, though we have
been, with hundreds and thousands of interested individuals, we have never since we
began, had occasion to enter a court of justice. (Applause.) We have not had a
single litigation since the Society began its labours. We have invested sums, the
very mention of which staggers our concejitions, and this in periods of great public
. trouble, when great shocks were given to the stability of almost every kind of secu-
rity; and yet, we have not lost by a single bad investment. I can say nothing that
can add to the force of these facts. Words would be perfectly idle. It seems to
me to be impossible that any intelligent or reflective mind can avoid contrasting the
quiet and steady progressiveness of this Society with other modes of laying out
money, in which there is often no gain at all, or in which the gain of one man is the
loss of another. (Heai*, hear.) That cannot happen here. These are waters upon
which every man who casts the bread of his prudence is certain to have it returned
at the time at which those who are dearest to him stand in the greatest need of it,
(Applause.) I daresay you have often observed that the best part, even of the best
discourse, always consists in the practical improvement. (Laughter.) I now come
to my practical improvement, which is just this: — I suppose all of you have a taste
for these Bonuses. 1 am mean enough to confess that I have. (Laughter.) Well,
how do you intend or expect that they are to continue to be paid? Why, solely by
increasing our business. The Directors cannot go on adding 2 per cent, to our poli-
cies every year, unless we enable them to do so by additions to our business. And
liow are we to increase our business ? These gentlemen perform their duty by mak-
ing the Society flourish. We have individually a duty to perform also. Can all of
you say that during the last year you have endeavoured to bring insurers to this
Society? I am afraid that there are many hundreds, if not thousands, to whom no
such reflection has ever occurred. I am therefore particularly anxious to take this
opportunity of impressing upon you, as you value your own interests, to say nothing
of the interests of those to whom you may address yourselves, the expediency of
suggesting to others the advantages and even the duty of Life Insurance. I do not
presume to ask you to act as solicitors for this Society. But I do presume to
recommend you to urge all your uninsured friends to leave a position generally so
full of risk. You may recommend them further to take the best ofiice they can
iind ; and, if they find a better than this, I can only say that they must be miracu-
lously fortunate. (The Honourable Chairman sat down amidst much applause.)
Glasgow Board of Management.
James Ellis, Esq., Chairman. ] William Hamilton, Esq.
Robert Napier, Esq. of Shandon. | Laurence Robertson, Esq.
Robert Cogan, Esq. Mungo Campbell, jun., Esq.
William Brown, Esq. | John Anderson, Esq.
Harry Rainy, M.D., Conmlting Surgeon.
orrics— 30 rovaz. fsici-iasntge sQv.asts.
W. Bruce and J. P. BKviiuiDGE, .4p'«n<*,