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150 Assurance Transactions 150 ASSURANCE TRANSACTIONS. The following losses by Fire, since the formation {)f the Company in October 1844. have been sustained and dis­ charged. namely:- Policy, No. 101, J. T. Pocock & Co" Cape Town,_ £2 4 0 . " ,,763, G. C. Greffrath, do.___ 5 0 0 " ,225, J. Golding, do.___ 20 0 0 " 845, Parker & Smithers, do,,___ 44 0 0 " 100, J. T. Pocock & Co., do.___ 13 6 6 " 6'26, James Barnes, Caledon, ____ 4 0 0 ,. 632, Thos. Loxton, Wynberg, ____ 75 0 0 " 444, John Barry, do.______ 3 0 0 " 967, J. W. Meyer, do._______ 3 10 0 " 997, F. Stanley, Port Elizabeth, ___ 222 14 0 Total,____ £392 14 6 In the Trost Branch the Directors beg to impress on the Shareholders the necessity of their using their influence to a greater extent, and of their giving more general support to the Offioe in the administration and management of Estates, as Executors, Tutors, Guardians, Curators, Administrators, Trus­ tees, Assignees, or Agents. The working of the Insolvent Ordinance is opposed to the interests of the concurrent Creditors, by throwing nearly every Estate into the bands of a few prefermt Creditors, whose claims on the Estate are secured, thus taking all power out of the hands of the former. The Shareholders wiH bear in mind, that" Union is strength," and without which it cannot be expected that any pl'ofitable business can be conducted by the Office. The various items in the Accounts now before you, will show that the ordinary expenses of management for the past year amount to Three Hundred and Forty-six Pounds and Eightpence (3461. O. 8.), which does not exceed that of former years, notwithstanding the increase of business. The 37th Section of the Trost Deed provides, that no Dividend shall be declared and paid, until the paid-up Capital and Profits shall amount to Ten Thousand Pounds (£10,000), and that the Dividends to be declared and paid at any time, shall not exceed Three-fourths (1) of the Profits realised, so long as the paid-up Capital and Profits shall not amount to Twenty Thousand Pounds (£20,000). The paid-up Capital and Profits now amount to Ten Thou­ sand, Three Hundred and Eighty-two Pounds and Sixpence (£10,382. O. 6.) In the present state of the Company's Funds, the Directors have deemed it inexpedient to declare a Dividend at present i but tbey entertain a hope of being enabled to do so at their half-yearly Meeting in January next. In terms of the 32nd Clause of the Deed of Agreement, the Direotors would recommend that the sum of One Hundred and Five Pounds be awarded to them and the Auditors as a re­ muneration for their services during the past year. According to the 25th Section of the Trust Deed, tlle follow­ ing Gentlemen, namely, the Hon'ble J. B. EBDEN, Esq., HE!'IIRT s. A. PRIVATE 'VIDOWS' FUND. 151 SHERMAN, Esq., JACOB LETTERSTEDT, Esq., retire by rotation, all of whom are eligible for re-election. It will therefore devolve on the Meeting to elect tbree Di­ rectors and two Auditors for the ensuing year. J. B. EBDEN, Chairman. South AfrIcan Private Widows' :E'und. Sixteenth A nnual Report of the Sou th African Private Widows' Fund, established in Cape Town in the month of March 1831, - read at a General Meeting of tlte Members of the Society, in the Town Hall, on Satur­ day the 27th March 1847. Pursuant to the existing rules of the Society, your Commit­ tee of Management have the honor to submit to the members tbereof the 16th annual report of their proceedings, and espe­ cially (notwithstanding the slight increase of members during the past year) of the progress and present state of the Insti­ tution, which they beg to recommend to the attention of their fellow members. The number of members was augmented by only four during the past year; they can however state with satisfaction that no death has occurred, and that, notwithstanding this slight in­ crease, and the large number of widows who draw prnsions, the most of whom are already entitled to the full sum of Rds. 600, tIle funds have materially increased. It will appear from the Treasurer's Account, made up from the Society's Books, and audited by two members not belonging to the committee, that Rds. 7917 2 2 have been added to the funds, and that the capital, at tbe expiration of the year, amounted to Rds. 156,154 0 5, and consists of: properly se­ cured bonds, Rds. 150,199 7 3 j entrance money unpaid and not due, Rds 516 [) 2; contributions of two members, Rds.72. One ofthese, baving paid the usual fine, is still entitled to his membership, but the other has forfeited his tjtle to a pension for his wife, according to article 4 of the fundamental regula­ tions, not having paid for two years at the time the accounts were closed, as will appear from the same. To cash, Rds. 4618 6 4; and arrears of interest, Rds. 746 5 2. Huwever much your committee desired to aUude to an Or­ phan Fund, proposed by the Treasurer in one of their usual monthJy meetings, and in some repects deserving of attention, they were debarred from 80 doing by the resolution adopted at the eleventh annual meeting on the 2d April, 1842, 'Viz.: "That no alteration shall be made in the payment "of pensions or otherwise, during a period of 20 years, "reckoned from tbe year 1831, except as pro'Vidcd by the "fundamental reguJations." The Treasurer has however submitted an outline of his scheme, which may be inspected by the members present. Your commjttee further beg to state, that the number of con­ tributing members now amounts to 173, and that pensions are at present paid to 22 widows. R. C. HOETS, Chairman. 152 S. A. PRIVATE WIDOWS' FUND. General Statement of the S. A. Private Widows' Fund, from 1st of March 1846, to ultimo February 1847. Dr. Rds. I. s. 1847, l"ebruary 28th, to Expenses, 1267 6 4 " " " Pensions, 9937 4 0 BALANCE TO CLOSE. To Bonds, _ _ __ _ Rds. 150199 7 :) To Entrance Money not paid and not due, _ _ _ _ __ ,_ --. 516 I) 2 To Contribution of one Member fined. D. Brink, Cs _ _ _ _ _ 36 0 0 To. Do. C. M. Korsten, 2 years not paid, and forfeited 36 0 0 To Cash _ _ , ... _ __ _ __ 4618 6 4 165407 3 3 To Arears of Interest 746 6 2 ----156154 0 5 Total Rds. ...- _ _ 167359 3 3 This Account compared with the Items in the Ledger, and found correct. (Signed) J. A. DE WET, H. T. BAM. Cape Town, 24th March 1847. Cr. 1846 Rds. I. I. March 1st. By Balance __ -.. Rd.s. 148236 6 3 ---- 148236 6 3 1847 February 28th, By Entrance Money __ __ _ 1650 0 0 " Contributions __ _. __ 6219 0 0 " Interest __ __ __ 10506 7 4 "Arrears of Interest, 5 items, two of which have since beeD paid _ 746 5 2 Total Rds. _ _ _ 167359 3 3 (Signed) J. C. GIE, Ms. Treasurer. Cape Town, 28th February 1847. Exchanges, Monies, Weights, and Measures. COURSE OF EXCHANGE. Prior to the 6th June 1825, the Exchange between this Colony and Great Britain was ehiefly regulated by the average rate at which tbe Commissariat Department disposed of its Bills (by public tender) on the Lords Commissioners of the British Treasury. On the R bove-mentioned date the value of the Rix-dollar 'Was, in accordance with the directions of the Home Government, and by the Ordinance of tbe Governor and Council, No.2. Jegally fixed at Is. 6d. (one shilling and sixpence) sterling, and the course of Exchange became thereby, in a manner, settled at that rate, with slight variations, depending upon the demand for Bills. By the Instructions then given to the Commissariat, Bills drawn by that Department were issued at £101 10, for every £100, being at the rate of one and a half per cent., against the Colony or remitter; and that in some measure regUlated the premium on private bills. The latter, however, were mostly sold at a discount, although some were occasionally sold at par, i. e. a bill of £100 for the same amount in specie; but tbat depended upon the credit attached to the parties whose bills or endorsements were in the market, as also upon the number to be disposed of at anyone time, and upon the amount which it may have been necessary to remit. By the Treasury Instructions recently issued to the Commis­ sariat, Bills upon the British Treasury are again disposed of by public Tender. AMOUNT OF GOVERNMENT PAPER MONEY IN CIRCULATION. The former rixdollar paper money having been, in a great measure, superseded by the issue of British Sterling Promissory Notes, was in 1835 deprived of its value as a circulating medium, and made payable or exchangeable at the Treasury only, by oeder of Government. As only very small portions oC it continued to be presented, it was notified by proclamation in 1840, that no rixdollar notes would be paid or e lchanged after the 31st March 1841, when the accounts of that particular car­ rency would be closed. The conclusion of ttlis account shows the exact amount to which tlle Colonial Government and the Public have suffered from the fJ'auda or forgeriu committed on the rixdollar papcr, the particulars of which, in as far as they could be ascertained, were from time to time reported to the Home Govt!l'nment: and it is deemed desirable here to record the results of the various increases in that paper, from the sur­ render of the Colony in 1800, to the conclusion of the account in May 1841.
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