Towns > Glasgow > 1828-1912 - Post-Office annual Glasgow directory > 1898-1899

ADVERTISEMENTS.
209
PRUDENTIAL ASSURANCE CO., LIM.
Chief Office HOLBORN BARS, LONDON, E.G.
Summary of the Report presented at the Forty-ninth Annual Meeting held on 3rd March, 1898.
ORDINARY BRANCH. — The number of Policies issued during the Year was 65,893, assuring the sum
of £6,698,755, and producing a New Annual Premium Income of £365,996.
The Premiums received during the Year were £2,774,264, being an increase of £231,002 over the year 1896.
The Claims of the year amounted to £707,643. The number of Deaths was 5038, and 656 Endowment
Assurances matured. The number of Policies in force at the end of the year was 497,327.
INDUSTRIAL BRANCH. — The Premiums received during the year were £4,793,591, being an increase
of £214,798. The Claims of the year amounted to £1,823,338. The number of Deaths was 192,359, and
1876 Endowment Assurances matured.
The number of Free Policies granted during the year to those Policyholders of five years' standing who
desired to discontinue their payments, was 60,848, the number in force being 549,889. The number of Free
Policies which became^Claims during the year was 10,716.
The total number of Policies in force at the end of the year was 12,546,132 ; their average duration
exceeds eight and a quarter years.
The Assets of the Company, in both branches, as shown in the Balance Sheet, are £30,438,337, being an
increase of £3,379,226 over those of 1896. A supplement showing in detail the various investments is
published with this Report.
Having regard to the growth of the Company, and also with a view to afford relief to the Managers and
Secretary, the Directors have made certain re-anangements and alterations in the Chief Office Staff.
Messrs. Dewey, Hughes, and Fisher will in future be Joint General Managers, and certain duties of
administration have been entrusted to a number of senior officials, whose long and intimate acquaintance
with the management has qualified them for promotion. The Directors believe that the traditions of
management which have produced such successful results in the past will thus be continued in the future.
General Balance Sheet of the Company on the 31st December, 1897,
LIABILITIES.
Shareholders' Capital,
Ordinary Branch Funds, ...
Industrial Branch Fund,
Reserve Fund,
Claims under Life Policies admitted,
ASSETS.
British Government Securities (£3,000,000 Consols), ...
Indian and Colonial Government Securities,
Railway and other Debentures and Debenture Stocks,
Loans on County Council, Municipal, and other Rates,
Freehold Ground Rents and Scotch Feu Duties,
Freehold and Leasehold Property,
Railway, Gas, and Water Stocks,
Suez Canal Shares,
Telegraph and other Shares,
Metropolitan Consolidated Stock and City of London Bonds,
Bank of England Stock,
Foreign Government Securities,
Reversions and Life Interests, ...
Loans on the Company's Policies,
Rent Charges, ..
Outstanding Premiums, ...
Cash in hands of Superintendents, and Agents' Balances,
Outstanding Interest, and Rents,
Cash— On deposit, on current accounts, and in hand, ...
£1,000,000


15,134,804
10
3
13,568,033
14
10
600,000


135,499
4
7
£30,438,337
9
8
£2,982,232
16
11
2,814,523
18
3
2,159,273
7
5
5,992,665
1
li)
2,628,268
9
6
1,882,662
5
6
3,155,015
1
3
4,963,189
13
5
168,489
5
8
26,025
U
7
363,420
13
6
200,559
18
6
692,757
9
2
473,705
9
5
578,520
8
3
153,077
17
4
402,094
18
1
49,911
6
5
231.677
18
7
520,265
19
1
£30,438,337
9
8
Edgar Horne, Chairman. Henry Harben, Robert Barnes, Directors.
T. C. Dewey, W. Hughes, F. Fisher, Joint General Managers. W. J. Lancaster, Secretary.
We have examined the Cash transactions, Receipts and Payments, affecting the accounts of the Assets
and Investments for the year ended December 31st, 1897, and we find the same in good order and properly
vouched. We have also examined the Deeds and Securities, Certificates, &c, representing the Assets and
Investments set out in the above Account, and we certify that they were in possession and safe custody as
on December 31st, 1897.
lbth February, 1898. DELOITTE, DEVER, GRIFFITHS & CO.
Glasgow Office— 71 RENFIELD STREET.
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