History of Life Assurance in the United Kingdom (Continued)

The second life assurance project in 1710 to be noticed is the following.2. This day (16th December 1710) are published from the Office, at the Wheat Sheaf, over against Tom's Coffee-House in Russell Street, Covent Garden, proposals for the benefit of the Clergy and Widows of Clergymen, by a Joint Contribution, whereby a Clergyman by a Contribution of 10s. (as in the proposals is at large expressed) may be entitled to the sum of £750 on his being instituted and inducted into a Rectory or Vicarage in England or Ireland, or sent as a Missionary by the Corporation of the Society for Propagating the Gospel in Foreign parts; or by a Contribution of 5s. may be entitled to the sum of £375, or by a Contribution of 2s. 6d. to the sum of £187.10s., in the cases aforesaid, with other advantages for the Widows and Children of the Contributors.

On the Graduation of Mortality Tables

It has been suggested that a formula given at page 17 of the present volume should be demonstrated, and its use in graduation more clearly explained.A series of numbers increasing by third differences is summed continuously p at a time, the results are summed q at a time, these results again r at a time, and so on, until all is collected into one term, S.

The Rates of Mortality among the Natives of India as deduced from the recent Census Returns

Having had occasion, in connection with the recent Indian Census, to investigate the question of native mortality as prevailing in the various Indian Provinces, a short statement of the methods employed and the results obtained may perhaps be of interest to the members of the Institute of Actuaries. The problem presented and methods employed belong distinctly to the work of the Actuary, although the results may, perhaps, have more interest for the Statistician.

History of Life Assurance in the United Kingdom (Continued)

Amicable Society.—We now arrive at the period of the formation of the Fourth Mutual Contribution Life Office established in London. This was designated the Amicable Society for a Perpetual Assurance; and it was destined, if not to be perpetual, to live long enough to become famous. It differed in some material respects from its predecessors, the chief distinction being that the contribution to its funds was fixed at £6. 4s. per annum. The first 2,000 members to pay, in addition, 5s. to the registrar and 5s. to the joint stock of the office; and all subsequent members were to pay 10s. to the joint stock. The founder and the registrar of the society was John Hartley; and he was to receive, permanently, 1s. per quarter out of each contribution.