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The amount subscribed for Stock may be paid either in one sum, or in twenty instalments, as most convenient to the Subscriber. provisional Jiuttors. P>. W. SMITH, Esq.., Sheriff County of Simcoe. S. BREGA, Esq., Registrar County of Peel. R. A. PARKER, Esq. J. STOITGHTON DENNIS, Esq. R. G. BARRETT, Esq. W. II. SMITH, Esq. With six others to be selected from the Stockholders, Directois elected by and from amonprst the Shareholders. Stock Saleable or Transferable. Interest payable half-yearly. m m\ (^3 JSk PROVIDENT 4»»» It luust be remoiiibered that this is not the English "Provident Life Office/' but a Canadian Institution. The Stock owned and Invested in Canada ; under the control of the members (the Directors being elected by the Shareholders), and intended to do business in the British North Ame- rican Provinces, but more particularly in Canada. It is believed that the Stock of this Company will pay a rate of interest not exceeded by that of any coinpany or institution in or out of the Province ; there being as yet but one nativ<' office doing business within the limits of British America, — and, notwithstanding the rapid progress that Life Assurance has made in the civilized world within t;he last fifty yeari. the practice may even yet be said to be in its infancy. The uniform success that has invariably attended all Life Assurance Companies yet started, renders it unnecessary to enter into detail in showing the advantages of this Company as a medium for In- vestment. To all who are seeking a permanent, or i even a tcmpuiary iuveHtiucnt tlu; ('()m|muy oft'cvH the two-told advantage of liaudsonie interest and _i>ood security. Ft must also be borne in mind by those havinii nione^^ to invest, that the stock of a Life Assurance Company is perfectly safe, and that the profits are not liable to the same fluctuation and imcertaintv a« the profits of Fire or 3Iarine Insurance. An English writer on Life Assurance, (i^ven as far baek as 1887, ) says : " That tlu; business of Life Assurance has greatly increased, is undoubted, so much so ap to attach to these institutions the character of vast national importance." During the last few years, since the benefits of Life Assurance have been better understood than they were formerly, strenuous efforts have been making by a few English Offtces to extend their business connections into these Provinces, but as, in the first place, all sums realized by these offices in the shape of profits are sent out of the Pro- vinces, — and, secondly, as from the low rate of interest obtained on investnients in England, these English Companies cannot mfcli/ charge as low premiums as a Canadian Office investing its means in Canada, it is manifestly to the advantage of Canada and Canadians to transact their own Life Assurance business. The general business of the Company will com- prise Assurance of Life, the granting and purchase of Annuities, lleversions, Endowments, Life In- terests, &c., &c. From the great and rapidly in- creasing held for operations of this nature in the Provinces, this branch of the (Company's opera- tions cannot fail of being highly remunerative. Persons taking 8tock will pay a deposit of One Pound per Share at the time of subscribing ; or, they may pay as many more Instalments as they think proper. Two months' notice will be given of each call, and not more than One Pound per Share will be called in at any one time. Keceipts will be given by the Agents for all cums received by them, and duplicate receipts will be sent from the Office as soon as the remit- tances arrive there. Any further information required may be ob- tained at the temporary Office of the Company, 54 KINCI STREET EAST, TORONTO, C.W. KAST OF THK " COLONIST " OFFICE. A 1 li r """11 PROVIDENT LIFE ASSURANCE AND INVESTMENT COMPANY. A little Information respecting Life Assurance and its olDJects. "The institution of Life Assuiance Societies" says Mr. Jenkin .Jones *' is generally admitted to be one of the most important and benevolent features in modern civilization ; and it must be «;ratifyin«i- to all who take an interest in the welfare of society and in the happiness of their species, to observe the great increase which has taken place in the number of these institutions so far as that fact may be taken as an indication of the increase in ^he numbers who have availed themselves of their advantages. '* " The origin of the practice of Life- Assurance" says Mr. F. Blayney " cannot (it should seem) be traced to any precise period. It, however, appears that the first public institution established for that purpose was the Aminible Society^ previously to which Life Assurance was very rare, and confined to a few individual underwriters. " So long ago as the reign of Queen Anne, the Bishop of Oxford, Sir Thomas Alleu, and several !! i. c i)ihvv inilividuals, soiisiblt* of the bcneiit arising from Life AHsuraiicis obtaiiuid a charter by which th(^ corporation (mlUnl th(; Atnlaihle tSociefj/, for a perpetual asMurancti office, was established. The object of this society, in its original forniation, was simph' to (snable persons, without regard to age, to subscribe annually some portion of their income, in m'der that the representatives of each subscriber might, upon the decease of tiie party, receive such a sum of monry as the funds of the corporation would enable them to ])iiy, according U) the number of deaths which might have hap- pened in each year ; so that, in e.very ease, what- ever might be the age of the party, or the period for which the assurance was eifected, the same premium was charged. It may, however, be re- marked, that this society was incorporated at a time when the principle of Life Assurance was very imperfectly understood ; but many useful regulations were afterwards introduced into its system, and, finally, the premiums were graduated according to the age and circumstances of the par- ties assured ; but this important regulation did not take place until the year 1807, (about 100 years ;".-i I 8 after the society wlus cstablif-slicd), for although the company . obtained a sccoikI charter in the year 1781, and a third charter in 1790, yet from its uniform success, no material alteration was deemed necessary to be made in the constitution of the so- ciety ; but the limit of its assurance was extended to a greater number of persons than that fixed by the first charter. However, by their fourth charter, granted in 1807, the premiums became regulated according to the age and ci)'(nimstances of the par- ties assured. The fifth charter obtained by this society limits the number of members to sixteen thousand, but which, by anothei* charter recently granted, may be increased to double that number. The Amicable Society being, liowever, by its first charter limited to a small number of sub- scribers, and those only for small sums^ three other assurance companies were shortly afterwards established upon plans more extensive, but dissi- * milar to the system adopted by th(; above society ; namely, the in ion ^ Jjtmilon J.svsv^/v/^a, and Rot/al Exchange, the two latter of which obtained their charters from King George the First, and opened assurances as proprietary establishments. The II iy rcls f/((i civ The pecuniary wants of (loveininent, at thi.s time, induced them to impose on each of these compa- nies the payment ot,^800,000, as a consideration for the grant t)f their charters, half of which was paid, but the other half was subset juently remitted. The only object at tirst contemplated by assu- rance offices, was that of effectinu' assurance on lives, as appears by one of their chaiters, which recites *^ that it has been found by experience to be of benefit and advantage for persons having offices, employments, estates, or other incomes determina- ble on the life or lives of themselves or others, to make assurances on the life or lives upon which such offices, employmeiits, estates, or incomes arc determinable.'' The business of these institu- tions is not, liQwever, now confined to assurance on lives, but extends to the granting and purchasing annuities, creating endowments for children, &c. " By an act passed in the 39th of his late 31ajesty George III. c. 83, for incorporating the Globe Insurance Company, it empowers them (amongst other things) to make insurance on the life or lives of any person or persons whomsoever, and to grant, purchase, and sell annuities for 10 lives, or on survivorship, and to j^ra-nt sums of money, payable at future periods within the King- dom of Great Britain and Ireland, and anv other parts abroad ; to reeeive deposits of funds ; Ton- tine Societies, and other institutions, and make provisions for the widows and (children of the clergy, and receive deposits from or on account of members of the industrious classes of societv, and make provisions for the same, by allowing interest on such deposits as may be agreed upon between the said corporation and the persons and societies treating with such corporation." *^ The business of life assurance, as now carried on, may be classed under the following general heads : namely, assurance for I Iff. or yearH ; contingent assurance, or the assurance of one life against another ; and, survivorship assurancr, or the assurance of the payment of a certain sum on the death of one of the two parties assured." i /..,..-.-. IL c it y^ nd l; ed i ral •> » ■ i, ifc i; or |! 1 ! um 1 1 " d- ,1 i! i! 11 ♦ TONTINES. We learn tVoiii the (lentleinaii's Magazine of the year 1701, that the term Tontine was derived from an Italian 'named Lawrence Tonti, a depen- dant or employee of Cardinal Mazarin, who in the year 1058 tirst projiosed a seheme of annuitiet;! with ^survivorship.* The plan, however, was not brought into operation till the year 1089, *' when/' as we learn from the samt^ authority, '' Tiouis XIV was distressed by the leagues of Augsburg, and granted money beyond what th(^ revenues of the kingdom would furnish, for supplying his enor- mous expenses, he had recourse to the plans of Tonti, which, though long laid aside, were not forgotten; and by an edict in 1089, crej^ted a Tontine Roi/alr of 1,400,000 //rres annual rent divided into fourteen classes. The actions (or * By *■ SuiTivorship" it is meant tliat the longest liver of the annuitants becomes ultimately the holder and proprietor of the whole stock. Each annuitant receives interest during life, and at the death of each, this cease.s, the heirKof no annuitant but the survivor of allhavine; any claim on the concern. Hence, when Tontine schemes are established, the subscribers usually .settle the annuities on their younge.st and healthiest children, to give the better chance of sur- vivorship. Inns and public buildings of different kinds are still sometimes built on the Tontine plan.— Chambers' Emx. .Tourn. I • :. ■ J 1.1 , :!r 12 shares) were 300 livrem a-piece, and the proprie- tors were to receive 10 per cent., with benefit of survivorship in every class. The scheme was executed but very imperfectly ; for none of the classes rose to above 20,000 livresj instead of 100,000, according to the original institution, though the annuities were very regularly paid. A few years after, the people seeming in better humour for projects of this kind, another Tontine was erected upon nearly the same terms. — They both subsisted in the year 172(3, when the French King united the 13th class of the first Tontine with the 14th of the second ; all the actionx of which were possessed by Charlotte Bonnemay, widow of Louis Barbier, a surgeon of Paris, who died at the age of ninety-six. This Gentlewoman had ventured 300 livtrs in each Tontine ; and in the last year of her life she had for her annuity 73,000 h'nr.^, or about £3000 a -year, for about £30. riTT STEAM PEES8, VONOE STREET. TORONTO. .tftiHassa^A- ■ i'^;Sfeltt«iSii»'»i'i%^4Vi'i ^(""•Ffliij^l^KiljHH 1 I H i Hr a Kossululion of tlu« Board of Dijcctirrs. earh Stockholder in the Oompauv will ho filIo>v(Ml td Assin> liiv^ own life. <>r]|tho lifo of one other persioii noTninalfMl by him. nf. iv rorliircx] rntf* of proniitnn. nXX ^IT.AM rKW$ &i TONfJR gTRKKT IOIH:»NW. ! ]k