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The earnings of the Company for the year ending 30th April,

1894, have been

Against which there has to be debited—

Losses by Sea Risks

Working expenses

Leaving a balance of

£2,804 19 5

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THE JAMAICA MUTUAL LIFE ASSURANCE SOCIETY.

It was at the close of the year 1843, over forty-nine years ago, that seven gentlemen, all now deceased, met for the purpose of forming a Life Assurance Society in Jamaica. Those gentlemen were Alexander Barclay, Edward Jordon, James Davidson, John Samuel Brown, W. W. Anderson, Henry Franklin, and John V. Purrier, Esquires. Having arranged the necessary preliminaries a public meeting was held at the Kingston Court House on the 26th January, 1844, when it was agreed that "the Jamaica Mutual Life Assurance Society be now formed." Application was then made to the House of Assembly for the necessary Law of Incorporation and the draft Bill was referred to a Committee of the House. In the Committee it was proposed to receive the Society's moneys at 5 per cent. Mr. John S. Brown, one of the founders of the Institution, and for twenty-two years its valued and highly esteemed Secretary, did good service in his place as a member of that Committee by proposing and carrying an amendment for 6 per cent. instead of 5, on the ground that 6 per cent. was the usual interest of the island, and that the project was in the nature of a Friendly Society. Mr. Darling (afterwards Governor of the Colony) then a member of Assembly, seconded and ably supported Mr. Brown's amendment and it was carried. On the passing of the law a Board of Directors consisting of the gentlemen first named, with Mr. Alexander Barclay as Chairman, was appointed, and the first policy was issued on the 1st May, 1844. To the end of that year 53 policies were issued, assuring £31,450.

The success of the Society during the past forty-nine years has indeed been remarkable; it has experienced uninterrupted prosperity, and this is strikingly demonstrated by the fact that in no instance have the Directors found it necessary to disturb the investments in order to meet any claims made on the Society. The early subscribers and subsequent upholders can with pleasurable pride refer not only to the prosperity that has attended the Society, but to the substantial benefit conferred on the families of deceased Assurers; and it is with no little gratification that the Directors have been able to announce that the operations of the Society have now reached over a half of a million.

Fifteen bonuses have been paid

Claims by death and endowment paid
Capital Stock

:::

£138,265 6 2

265,484 15 10 141,889 7 7

£545,639 9 7

The number of policies issued is 2,915 and the income of the Society exceeds £23,800 per annum. One thousand three hundred and forty-seven policies are in existence, amounting with additions to £442,673 2s. 7d., and the total assets are £144,443 2s. 4d.

The whole of the profits are divided among the Assurers and it is believed they

exceed those of any other similar Society in the island. For example, a policy for £300 taken out in 1850 has been increased, by bonus additions, to £920 118. 6d., while a policy for £1,000 taken out in 1854 now stands at £2,676 17s. 11d. with bonus additions.

The three last bonuses issued by the Society were taken as under :—

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The stability of the Society may be described by the following extracts from reports of the Actuary, Alexander Glen Finlaison, Esq., of the National Debt Office, London. In 1873 he wrote: "It is a matter of the greatest satisfaction to find that the condition of the Society's engagements may be announced with perfect confidence to be at this moment in a state of prosperity such as cannot be questioned by the most rigorous judgment." In 1876 he said: "The financial condition of the Society is, on the present occasion, in a relatively stronger position than it was three years ago; this is a state of affairs which will form a subject of congratulation." In 1879 he stated: "The position of the Society is superior from a financial point of view to that which was the case on the 4th January, 1876." In 1882 he said: "The Society is now on a level of stability with the highest class of Assurance Societies in England." In 1885, when recommending a bonus at the rate of 35 per cent. of the values of the policies, Mr. Finlaison reported that "the amount of the funds of the Society confers a very high rank upon the financial position in relation to its engagements to its members and upon this score places it on an equality with the highest class of Assurance Societies in Great Britain." In 1888 Mr. T. B. Sprague, M.A., a member of the Council of the Institute of Actuaries of Great Britain and Ireland wrote as follows to the Secretary in connection with the valuation for the 1888 bonus: "I cannot refrain from adding a few words to congratulate both the Directors and yourself upon the satisfactory result of the valuation I have made by an unusually stringent method. It surprises me that your Society having so large an amount of undivided surplus in which new entrants are permitted to share upon equal terms does not secure almost all the life assurance in the island."

One of the main causes of the success of the Society is the extreme vigilance in the selection of lives, which has led to the death-rate being always below the average. The Directors have also given great care and attention to the investments. At present there are £7,806 12s. 7d. invested in mortgage, £88,742 12s. Od. in Government securities and £4,915 16s. 3d. in loans on Jamaica Debentures. Loans to members exist to the extent of £27,581 16s. 9d.; on these loans 5 per cent. is paid and the policies of the borrowers are held as securities at their surrender value.

One of the many advantages of the Jamaica Mutual is that it now pays all its claims immediately on proof of death and title and in this particular the Society has a great advantage over the other Life Assurance Institutions doing business in the island.

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LIFE ASSURANCE OFFICES.

THERE are ten Life Assurance Offices represented in Jamaica. The Jamaica Mutual Society is purely local. The following is a list of the Assurance Offices doing business in the island:

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A. W Farquharson 3 8 9
Scottish Amicable Harvey & Bourke
London Assurance O. Marescaux

s. d. £ 8. d.£ s. d.£ s. d. £ s. d.£ s. d. £ s. d. £ s. d. 3 3 1 1 12 5 3 9 9 1 15 10 4 0 10 2 1 7 4 9 2 2 5 11 2 11 10 1 7 0 2 19 2 1 10 9 3 8 9 1 15 9 4 172 25

£

A. H. Jones, Sec.
G. J. DeCordova

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Chas. Levy & Co.

W. Malabre & Co. 3 8 0

3 2 10 1 12 3 3 8 8 1 16 3 3 15 10 1 18 11 4 4 10 2 3 0 4 15 6

3 15 4

4 6 0

Anderson & Watson 3 9 4 1 15 5 3 14 2 1 17 11 4 0 5 2 1 1 4 8 6 2 54

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Royal
Standard
A. W. Farquharson 5 14 11
Scottish Amicable Harvey & Bourke

Anderson & Watson 5 1 11 2 12 3 6 0 0 3 1 8 7 2 7 3 13 6 8 13 8 4 9 10

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PART XVI.

CLUBS, SOCIETIES, &c.

FREEMASONRY.

THERE are at present in Jamaica three Grand Lodges, namely, the District Grand Lodge of Jamaica; the Provincial Grand Lodge of Scotland; and the Provincial Grand Mark Masters' Lodge of England.

Under the District Grand Lodge of Jamaica are the Royal, Friendly, Sussex, Collegium Fabrorum; the Phoenix in Port Royal; and the Hamilton in Spanish Town. The Friendly Lodge in Montego Bay holds direct communication with the Grand Lodge in England. Mark Masters' Lodges are attached to the Royal, Sussex, Kingston, and Friendly Lodges; to this latter the title of "Clifton Mount" has been given in compliment to the Right Worshipful Robert Hamilton, M.D., the late District Grand Master, this being the name of one of his properties in the island. The Phoenix Lodge at Port Royal holds a warrant also for a Mark Masters' Lodge. Royal Arch Chapters are attached to the Royal, Friendly, Sussex and Phoenix Lodges on the southside and to the Friendly Lodge on the northside of the island.

There are five Craft Lodges working under the Scottish Constitution. The Glenlyon and St. John are in Kingston, the Athole Union in Falmouth, the Seville in St. Ann's Bay and the Caledonian in Port Maria. A Mark Masters' Lodge is connected with each of these Lodges and a Royal Arch Chapter is attached to the Glenlyon.

There are two Rose Croix Chapters in Kingston, No. 49 called the “Jamaica" and No. 80 called the "Kingston," under the Supreme Council of England.

The following schedules give the Brethren who now hold office in the several Grand Lodges and the Masters of the Subordinate Lodges and Chapters in the island:

DISTRICT GRAND LODGE OF JAMAICA.

Right Wor. Bro. J. C. Macglashan, District Grand Master
Wor. Bro. R. S. Haughton, Deputy District Grand Master
C. L. Campbell, District Senior Grand Warden
Henry Priest, District Junior Grand Warden
Rev. G. C. Linton, District Grand Chaplain
Rev. R. Harding, District Grand Chaplain
W. A. Feurtado, District Grand Treasurer
W. B. Gray, District Grand Registrar

John E. Lyons, District Grand Pres. Bd. Genl. Purposes
Wm. Duff, District Grand Secretary

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Chas. A. Salmon, District Senior Grand Deacon

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Thos. Briscoe, District Junior Grand Deacon

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Isaac S. Brandon, District Grand Supt. of Works

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T. J. Curphey, District Grand Sword Bearer

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George H. Pearce, District Grand Director of Ceremonies

Hiram Barned, District Assistant Grand Director of Ceremonies

H. D. Bogle, District Grand Standard Bearer

A. Hart, District Grand Organist

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F. G. Sale, District Assistant Grand Secretary
A. C. McMillan, District Grand Pursuivant

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H. W. Smith, District Assistant Grand Pursuivant

P. Ferguson

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W. R. Ryder

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J. C. Bryant

>District Grand Stewards

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A. M. Hoyes

George Magnus, District Grand Tyler.

490

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Vacant

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Sergt.-Major Clarke

Tyler.

MARK MASTER PROVINCIAL GRAND LODGE OF JAMAICA.

Right Wor. J. C. Macglashan

Wor. Bro. J. W. Whitbourne

Wor. Bro. O. Delgado

Very

99

District Grand Master

Deputy District Grand Mark Master

Senior Warden

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T. N. Aguilar

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G. A. Campbell

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E. X. Leon

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Treasurer

Registrar of Marks
Secretary

Inspector of Works

Director of Ceremonies

Sword Bearer

Standard Bearer

Inner Guard

99

J. M. Simpson

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Brother

A. P. Alberga

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Vacant

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UNDER ENGLISH CONSTITUTION.

CRAFT LODGES.

No. 207 Wor. Bro. Isaiah Cox

Master

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239

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C O. Magnan

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393

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914

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F. Hollar

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Collegium Fabrorum, Kingston

1836

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Kingston

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W. DeB. Hodge

Moore-Keys

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Royal

HOLY ROYAL ARCH CHAPTERS.

Most Excell. Compn. G. E. Burke, Principal 2.

Jamaica

Friendly
Sussex
Phoenix

Kingston

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J. DeCordova
R. A. W. Holwell
L. C. Hollar

99
99

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Excell. Bro. A. H. Jones, Most Wise Sovereign
R. S. Haughton, Prelate

Charles Plummer, Most Wise Sovereign
Rev. W.C.McCalla, Prelate.

PRECEPTORY OF KNIGHTS TEMPLARS.

Sir Knight W. L. Mudon, Eminent Preceptor.

Glenlyon Lodge, Kingston
Seville, St. Ann's Bay
Caledonian, Port Maria
St. John, Kingston
Athole Union, Falmouth

Sir Knight A. H. Jones, Constable.

UNDER SCOTCH CONSTITUTION.

CRAFT LODGES.

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Rt. Wor. Bro. J. Griffiths
"Adam Roxburgh

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No. 346
530
55400
623

11

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J. W. Kerr

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Master

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