THE INSURANCE CLERKS' ORPHANAGE. REPORT OF THE GENERAL COMMITTEE TO THE FIFTH ANNUAL GENERAL MEETING OF MEMBERS, TO BE HELD AT THE REGISTERED OFFICE OF THE INSTITUTION, 65 WATLING STREET, E.C., ON TUESDAY, 15TH DAY OF OCTOBER, 1907, AT 4.45 O'CLOCK P.M. THE General Committee have much pleasure in submitting their Fifth Annual Report to the members of the Orphanage, together with Account and Balance Sheet made up to the 30th March, 1907. The total amount received during the year was £2311 3s. 4d., being an increase of £365 7s. 2d. on the figures of the previous year. In accordance with the Articles of Association, the Life Membership Subscriptions and all Donations of £20 and upwards, amounting together to £937 16s., have been carried to the Capital Account, increasing that account to £8082 16s. 7d. The other receipts, consisting of Annual Membership Subscriptions, Donations of under £20 each, and Interest, amounted to £1373 7s. 4d., as against £1246 10s. 2d. in the previous year, and represent revenue. The balance of Income and Expenditure for the year is £4159 18s., as compared with £3412 4s. in the previous year. 途 Life Membership Subscriptions of £75 12s. were received from 16 new Life Members and from 4 Annual Members who had decided to commute their payments. Annual Members contributed £746 6s., of which £50 9s. represents the subscriptions of 175 new members, the balance being renewed subscriptions. During the year 191 new members were admitted, and the total membership stands at 2626. Entertainments and other social functions resulted again in substantial assistance being rendered, while they further served the useful purpose of helping to sustain interest in the Orphanage. The General Committee desire in particular to acknowledge, with thanks, contributions from the following sources :— Birmingham Insurance Smoking Concert - £20 North British and Mercantile Insurance Com pany, Staff Smoking Concert Phoenix Fire Office, Staff Smoking Concert 4 0 5 8 0 4 9 0 14 12 0 - 3 7 6 During the year the Alliance Assurance Company, the Ocean Accident & Guarantee Corporation, and the Royal Exchange Assurance contributed £100 each, and the Warsaw Fire Office £50. Since the institution of the Orphanage 22 Companies have contributed the following Donations: In addition to the foregoing, the General Committee thankfully acknowledge personal contributions from directors of various offices. The total expenditure amounted to £625 13s. 4d., of which £528 10s. was for grants on account of orphans, the balance of the expenditure, £97 3s. 4d., representing working expenses. The sum of £1714 15s. 2d. was invested during the year, making the total cost of investments of the Orphanage £11,895 11s. 10d., as against a market value, on 30th March, 1907, of £11,334 13s. 2d. In the course of the year 10 children were admitted to the benefits of the Orphanage and at 30th March last 24 children in all were receiving such benefits. A short summary of the cases is appended. The General Committee, while they record with satisfaction the steady progress of the Institution, feel that its increasing usefulness should have commended its objects and support more strongly than it has to those in whose interests the Orphanage was originated. In the course of the year applications for assistance were regretfully refused by the General Committee in pursuance of the policy of reserving the benefits of the Institution strictly for the children of Members. The General Committee tender their thanks to the members of the respective Local Committees and to the Collectors in the various offices, to whose energy the present position of the Institution is largely due. The General Committee also tender their acknowledgments to the Honorary Auditors for their services, to the Committee of the London Salvage Corps for the free use of their premises, and to the Insurance Press for gratuitous advertisements and publication of information respecting the Orphanage. The following members of the General Committee retire in accordance with the Articles of Association, and, being eligible, offer themselves for re-election, viz. :-Messrs. G. W. Mannering, C. E. Noverre, E. Roger Owen, J. Powell, A. J. Relton and H. L. Riseley. The retiring Auditors, Messrs. Price, Waterhouse, & Co., being eligible, offer themselves for re-election. SAML. J. PIPKIN, Chairman. 26th September, 1907. с PARTICULARS OF CASES RECEIVING THE BENEFITS OF THE INSURANCE CLERKS' ORPHANAGE ON 31ST MARCH, 1907. Admitted. Sex. Born. Father. Clerk, Sun, Head Office. Clerk, Westminster Fire, Head Office. Inspector, Provident Life & County Fire, Head Office. Inspector, Provident Life & County Fire, Head Office. Clerk, Phoenix, Head Office. Local Secretary, Gresham Life, Liverpool. |