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The deaths in 1867 were: Males, 16,965: Females, 15,352. Of the M., 14,725 died under 5; 122 between 5 and 10; 42 between 10 and 15; 26 between 15 and 20; 27 between 20 and 25; 59 between 25 and 35; 61 between 35 and 45; 158 between 45 and 55; 698 between 55 and 65; 1030 between 65 and 75; and 17 between 75 and 85. Of the F., 12,423 died under 5; 142 between 5 and 10; 51 between 10 and 15; 43 between 15 and 20; 30 between 20 and 25; 80 between 25 and 35; 135 between 35 and 45; 272 between 45 and 55; 846 between 55 and 65; 1310 between 65 and 75; 15 between 75 and 85; 4 between 85 and 95; and I over 95. [DEBILITY.] ATTACHMENT.-The act of attaching money held by one person on account of another pending the result of an action. According to the custom, or mercantile usage, of the City of Lond., a writ of attachment may be issued by the Lord Mayor's Court against the money accruing or accrued of a debtor, in the hands of third parties, as a Bank, Ins. Office, etc. The order served is called a Garnishee Order; and the duty of the person served will be fully explained under GARNISHMENT. In Scotland a similar process prevails, called ARRESTMENT. ATTENUATION (Lat. attenuo, to make thin).-The lessening of weight, or consistency; ATTESTATION.-Testimony, evidence, justification; the execution of a deed or will in the presence of witnesses. Attestation clause: the sentence subs. to a written instrument, signed by the witnesses to its execution, stating that they have witnessed it. Attesting witness: a person who has seen a party execute a deed or sign a written agreement. He then subscribes his signature, for the purpose of identification and proof at any future period. ATTFIELD, DR. JOHN, Director of the Laboratory of the Pharmaceutical Society of Great Britain, was examined before the Parl. Com. on Fire Protection, 1867, as to the explosive properties of petroleum, and other mineral oils. He said during the preceding six months he had procured 65 specimens of oils, purchased in shops, and some obtained from the Docks, in the neighbourhood of London; and he submitted a table showing the temperature at which those oils gave off inflammable vapours. The results will be found under CHEMICAL PRODUCTS, and Petroleum.


ATTORNEY (Fr. substituted).-One who is appointed by another to do something in his absence, and who has his authority to act in the place and turn of him by whom he is delegated. He is of two kinds :-1. Attorney-at-Law. 2. Attorney in fact. This latter includes all agents employed in any bus., or to do any act for another; also a person acting under a special agency, whose authority must be expressed by deed, commonly called a power of attorney.

AUCTIONEERS' FIRE, LIFE, AND FIDELITY Co.-An office under this title was projected in 1849, but it did not proceed to complete regis.

AUDIT.-An examining of accounts. Some years since a good deal of discussion took place as to the desirability or otherwise of a Gov. audit of the accounts of ins. asso., as a means of lessening the many abuses practised. The idea seemed feasible; and we for a time gave it our support in a variety of ways. More mature consideration brought an alteration in our views. An audit is after all only a process of reviewing expenditure already incurred. It cannot question the policy of any given expenditure: it simply certifies that the expenditure has been made. To go further is to assume the function of management: an office in no way pertaining to an auditor. The publication of accountsby which means all who are interested may criticize and censure is a more effective remedy. We must briefly glance at what has been proposed, and what has been done in the matter of auditing.

Mr. W. T. Thomson, in his pamphlet, On the Present Position of the L. Assu. Interests of Gt. Brit., pub. 1852-an able production-discussing remedial measures for the state of matters then existing, proposed (inter alia)—

(4). That a thoroughly practical and judicious professional act., unconnected with any assu. office, be appointed as auditor in conjunction with the Registrar [of Joint-Stock Cos.], with power to send for persons and documents; and who shall be in close connexion with the B. of Trade. (5). That the B. of Trade, after a report from the registrar and auditor, and such further procedure as may be thought necessary, be empowered to suspend the operations of any so. whose management is disrespectable or tending to insolvency.

This pamphlet was in the form of a letter, addressed to Mr. Henley, the then President of the Board of Trade.

In the same year Mr. Thomson pub. Further Suggestions with Reference to the Amendment of the Joint-Stock Regis. Act, as regards L. Assu. Inst. This was in the form of a letter addressed to Mr. Francis Whitmarsh, the then Registrar of Joint-Stock Cos. ; in which the preceding views were reiterated, and further developed and explained.

Dr. Farr was one of the early champions for a "public audit" of the accounts of L. offices. In his able Letter, which appeared in the 12th Report of Registrar-General (1853), he says:

A settled system of actual ann. audit will prob. ere long be instituted, and such returns be made in a statistical form, as will enable all the sound offices to estab, beyond any doubt their ability to fulfil their engagements, and to return a large surplus to the persons who insure.

He enters upon some illustrative reasoning; and again proceeds:

If a public audit is called for in ordinary cos., and would be useful in banks, from which the depositor can withdraw his deposits in a day, something of the kind is required in L. offices, which engage to pay their depositors at the end of 20, 30, 40, 50, or 60 years! In the keen competition for present prems., is there not some danger that, without such a check, the expenditure, and the promises of benefit at that distant day-the end of the depositor's life-may be too liberal?

The finance of a L. office, it has been shown, differs essentially from that of any other co. While it is advancing to insolvency, its income may exceed its outgo for many years; or it may have a large surplus of misappropriated capital, while its annual expenditure largely exceeds its income. An ordinary balance-sheet is no test to its financial condition; and by using bad Tables, assuming different rates of int., operating on different principles, the results of valuations, as they are called, may be made to differ to the extent of many thousands-hundreds of thousands of pounds.

He clearly, however, is not advocating a system of Gov. audit, for that he speaks of on the same page as "neither desirable nor practicable." Uniform accounts arranged in a scientific manner appears to be the scheme in his mind.

Numerous suggestions regarding audit and arrangement of accounts were made to the Select Committee on Assu. Asso. which sat that same year (1853); but the Committee in its report made no special recommendations on the subject of audit. [LIFE INS., HIST. OF.]

In the Joint-Stock Cos. Act, 1862, there are powers for the Board of Trade to appoint competent inspectors to examine into the affairs of any co. regis. thereunder, and to report to the Board. This power will be fully set forth under title BOARD OF TRADE.

The Economist newspaper suggested in 1869 the following scheme for a voluntary Gov. audit of Joint-Stock Cos. generally :—Any office so desiring to have the option of calling in a Board of Trade auditor, and obtaining and pub. his certificate, the Co. to pay the expense, against which, if it came through all right, it would have the advantage of announcing that its accounts were 'certified." Of course the investments must, for this purpose, be all in such shape, and of such a character, as to render their cash value easily discoverable-Consols, terminable annu., mortgages.

In the L. Assu. Cos. Act, 1870, there are no provisions regarding audit of accounts. In the U.S. there is no compulsory audit of the accounts of ins. asso. The investigation by the ins. superintendents in some of the States, no doubt, amounts to an audit, and a very stringent one. [ACCOUNTS.] [ACTUARIAL REPORTS.] [ANN. LIST OF MEMBERS.] [BALANCE SHEETS.] [BOARD OF TRADE.]

AUDITOR.-One who examines and verifies the accounts of officers and others entrusted with money; as also the accounts of asso. and public cos. The term is derived from the Latin audio, I hear, probably from the ancient practice of delivering accounts viva voce. AUDLEY THE USURER.-This man was a great speculator in annu. on lives in the 16th century, and by his sagacity rose from being a solicitor's clerk to become a great capitalist; and to attain all the ill-fame and all the wealth of a usurer. Francis, in his Annals, etc., gives a most amusing account of him, and probably not much overdrawn. [ANNU. ON LIVES.]

AULD, JOHN G., was Sec. in Lond. for Colonial Life from 1849 to 1854, shortly after which date he died.

AUSCULTATION (ausculto, to listen).-Auricular exploration. The act of listening by the application of the ear, in the examination of disease. It is termed immediate, when practised by the unassisted ear; mediate, when performed by means of the stethoscope.— Hoblyn. AUSTRALIA. The population of our Australian colonies is growing rapidly. In 1830 it was 40,000; in 1860, 1,500,000. The excess of males over females at that date was 176,696. This operates against the adoption of L. ins.

Ins. in its various branches has, however, taken root in Australia, as it does in all Anglo-Saxon communities. The British offices at a very early period estab. agencies in all the principal towns. Local offices are now springing up, fire, life, and marine. An accident ins. office was tried there a few years since (1865), but after a year and a half's experience it was abandoned (1867), on the ground, "that sufficient risks were not obtainable.' Volunteer fire brigades have found much favour, and have been of essential service. Sydney several years since had a steam fire-engine; probably some of the other cities now have them.

Among the local life offices that are best known here is the Australian Mut. Prov., of which Mr. Morrice A. Black is now the Act. We have not a complete list either of the life or other Australian cos. at hand, but hope to furnish one in our supplement. It will be observed that a large number of offices have been founded, or at least projected, on this side for the special benefit of these colonies. We suspect the colonists have been reasonably sagacious in their selection. The Anglo-Australian L. presented some features which we have already noted. Several others follow to be investigated.

The climate of Australia is found to be well suited to persons of consumptive tendency. We shall speak of this more fully under LOCALITY,

AUSTRALIAN, COLONIAL, AND GENERAL LIFE ASSU. AND ANNU. Co., founded in 1839 with an authorized cap. of £200,000, in 2000 shares of £100.

This Co. (said the prosp.) has not been constituted before the directors and promoters

have entirely satisfied themselves of the soundness of its principles, and the reasonableness of their expectation that such a so. is now required. The document then sets forth: Life assu. is better appreciated and more generally resorted to than formerly. It is acknowledged by a large majority of those who have assu. their own lives, that the prems. so applied are so much clear saving of that which would otherwise have been spent; whilst to creditors and the possessors of every description of property dependent upon lives, it affords security and certainty which they could not otherwise obtain. Some persons (overlooking, in the ascertained and definite operation of the law of mort. upon large numbers, the proverbial and awful uncertainty of individual life) have indeed objected that they can employ their money themselves at a higher rate of profit than assu. sos. incumbered, as many of them are, with heavy expenses of management, can employ it for them. This objection, however, does not apply generally to this so.-as the directors will be enabled, by investing a part of their funds in perfectly good security at a high rate of int. in the Australian Colonies, in modes and under circumstances safer and more beneficial than are obtainable by individuals, to secure an average return much exceeding any which can be safely made by public or private investment in England, and which, with great economy in management, affords good reason to expect considerable profit to the assured.

Mortgages of the first class in Australia are as secure as those upon English lands, with this great advantage, that the latter have prob. attained their maximum of value, and may be much depreciated by alterations in the Corn or other laws; whilst in these colonies the money so borrowed is usually laid out in extended and improved cultivation, whereby the security is increased year by year; to which may be added that a public registry of all mortgages affords both facility and security to this mode of employing cap.

This so. will doubtless receive the support of those more particularly connected with the Australian Colonies; as by its permanent investments therein, and by the security it will afford to monetary transactions, it must accelerate the development of their resources, and contribute much to their advancement.

No extra prem. was to be charged to persons ins. for the whole of life "for voyage as cabin or intermediate passengers in approved vessels to, or for residence in the Australian colonies in approved situations." Distance from medical advice, occupation in whale fishery, or distant voyaging, would be covered by equitable prems; "but parties may proceed from port to port throughout the Australian colonies in decked vessels of 100 tons and upwards." Prems. on pol., wherever effected, might be paid in any settlement in Australia, "where there is a bank," but always at the same, unless permission to change should have been given. Pol. might be made payable in either country by indorsement.

So much for the peculiar features of the office in relation to Australia. Now we have to glance at its other special features. Participation in profits and low rates of prem. were especially dwelt upon in the prosp.

In add. to the advantage of the low rate of prem. required by this so., one-half of the profits will be divided among the assured and annuitants; but in the first instance one-fifth of the whole will be retained to form an extra precautionary fund.

The profits were to be divided quinquenially; and there was this special feature, that for each bonus declared, a separate pol. was to be issued, payable at death, quite irrespective of keeping up the original pol.; and as the prosp. put it, "increasing, without cost, in value every year." The annuitants were to participate in the profits of the life fund; and these profits were to be distributed quinquennially, by means of an add. annuity. But then there came this clause, based upon the "limitation scheme" of the Equitable:

The benefited members of the Co. will consist of the first 1000 pol.-holders for the time being, for the whole of life for £500 or upwards in one or more pol.; and the first 1000 annuitants for the time being, who have paid £500 or upwards for their annu. Every vacancy in the 1000 benefited pol.-holders to be filled up by the next oldest pol. of assu, on the plan of the Equitable So. of Lond.; and in like manner every vacancy in the 1000 benefited annuitants, by the next oldest deed of annu. The assu. and annuitants, however, will only succeed to the vacancies in their respective class. There were descending and ascending scales of prem. Onethird credit pol. were issued. The annexed was the ordinary parti. scale for whole of life:

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But subject to this proviso, that the rate would be revised ann. with reference to the rate of int. to be securely obtained, and other circumstances; "but no alteration will be made in existing contracts. The prosp. further said, "T. of prems. for assu. on the lives of officers engaged in civil and military service in the East Indies have been calculated, and may be seen at the office of the Co." The prosp. was signed by Christopher Cousins, Accountant. Mr. Edward Ryley was the Act. and Sec. of the Co.



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In 1852 the bus. of the Co., which we believe had never been extensive, was trans. to the Liverpool and Lond. AUSTRALIAN AND GENERAL CONSIGNMENT AND UNDERWRITING ASSO.-This Co. was projected in 1853 by a well-known hand-Mr. J. Newnham Burnand, then described as a stock-broker. Its regis. objects were Marine and Commission bus. We do not find that it ever reached the stage of complete regis. AUSTRALIAN LLOYD'S.-An asso. under this title, for the regis. of the shipping of the Colony, has been estab. in Melbourne.

AUSTRALIAN MERCANTILE MARINE.-This Co. was projected in 1853, and among its promoters was Mr. W. Blanchard Jerrold. The scheme did not go forward.

AUSTRALIAN AND ORIENTAL MARINE.-This Co. was projected in 1853, and shared the fate which befel most of the other projects with Australian titles put forward during that year-fell through and came to nothing.

AUSTRIA.-This Empire does not figure at all conspicuously in the early hist. of ins. Indeed it is only since Trieste was declared a free port, in 1719, that Marine Ins. has been cultivated; and unquestionably it has since then absorbed a considerable portion of the very large bus. of this class formerly carried on in Venice. With the bus. flowed also the incidents and customs by which the bus. had been regulated, or, as Mr. Reddie very well puts it, "if they did not borrow the Venetian jurisprudence, they must have been guided very much by the maritime usages of the Adriatic, and by the Consolato del Mare." In 1774, the Empress Maria Theresa promulgated an Edict, which forms a tolerably extensive maritime code; and in 1816 there was pub. at Venice, Editto Politico di Navigazione Mercantile Austriaca. Neither of these documents presents any features requiring special comment here. They were simply a reflex of the maritime customs of the Mediterranean States, of which we shall speak at large under CONSOLATO DEL MARE. We propose briefly to survey the progress of ins. in the Austrian empire; noting also the leading features in its pop. and vital statistics. The growth of L. ins. has been slow The native offices are few-but we shall notice them in some detail, because they embody a few special features. Foreign cos. have found many difficulties placed in the way of carrying on a bus. of any magnitude there. There is some expectation of a general law for regulating such matters. It will be a great blessing, and if the measure be a liberal one, a wide field of enterprise will be opened up.

The first ins. co. founded in the Austrian empire appears to have been the Azienda Assicuratrice, estab. in Trieste, in 1822, for fire, transport, marine; and life ins. was added in 1850. Of that Co. we give a brief history under its alphabetical title, as it is transacting bus. in England, and therefore demands a special notice from us.


In 1823 there was estab. in Vienna, the General Annuity Fund for Widows and Orphans. Its object is to ins. annu. to the widows and children of the subscribing members who happen to die at least three years after their admission into the so. The widows are pensioned until their death; the children until the age of 20. pensions are divided into three classes; the amount of each pension is dependent on the amount of capital possessed by the so. The maximum pensions, being £60 for 1st class; £30 for 2nd class; and 15 for 3rd class. The subs. can be paid (1) by a single payment at the time of admission, the amount of which is regulated according to the age of the subs., that of his wife, and to the class to which he wishes to belong, in accordance with a scale annexed to the statutes. (2) By an ann. payment, fixed at £3 45. for the 1st class; 1 125. for the 2nd class; and 16s. for the 3rd class. In 1850 the number of subscribers was 1989; the annual pensions granted, 618. The so. had then a capital of £135,506. It had paid in pensions up to that date, £194,562. The amount of pensions for 1851 was fixed at £40, £20, and £10, according to class. The expenses of management were only about £300 p.a.

In 1824 the General Provident Fund of Vienna was founded by the board of management of the Savings Bank of Vienna, by whom it was afterwards conducted, It had for its object the promotion and management of the Mut. Asso. for Life Annu. with partial alienation of the capital, according to a plan set forth in its statutes. The transactions of the asso. down to 1847 were considerable. At that date an exposé of the affairs of the management took place, and changes were instituted. At the close of 1850 a report was pub., which showed that conjointly with the Savings Bank, the total subs had been for the classes for the years 1825-47, £948,457; and for the years 1848-50, £36,465: total, £984,922.

In 1830, General Assu. Co. was founded in Trieste-orig. called Assicurazioni Generali Austro-Italiche.-The Co. effects ins. of fixed sums guaranteed by the shareholders against risks by fire, maritime and inland navigation, transfer of merchandize by land; against hail, and also ins. of life. The cap. of the Co. is £200,000, of which 10 p.c. was paid down in cash. Half the said cap. is specially pledged to the L. department. About 1850 various modifications were introduced into the L. branch. (1). Persons under 51 might participate in 75 pc of the profits of that branch. (2). The insured having reached 80 years of age are exempted from the payment of all further prems. ; and receive the sum ins, if they live till 85. (3). Half credit of prems. -4 p.c. int. being charged on half not paid. These arrears to be deducted from sum ins. The Co. has undertaken the management of Mut. Ins. Classes (Tontine), guaranteeing int. at 4 p.c. p.a., charging a commission of 5 p.c. on amount of subs. for management. At the close of 1850, the figures of the L. department stood as follows: Sums ins. payable at death (or age 85?) £469,927; L. annu. to be paid to a nominee after the death of another nominee, £9240.; ann. prem. income, £24,855; ins. fund, £51,423; profit reserve fund, 10, 564; ins. of deferred sums, £96,062; prems. receivable, 1932: prems. accumulated, £35,512; profits in reserve, £776. L. annu. (ordinary) payable, £16,962; reserve for the same, L131,542; profits reserved, £5986. On the 31st Dec, 1851, the Co. held subs. for the Tontine classes, £13,872. Regarding the annu. payable, it has been remarked that L. annu. payable were very large in relation to the

sum accumulated to meet them-showing the average rate of annu. to be nearly 12 p.c. p.a. a rate which would lead to the supposition that the average age of the annuitants was about 70 years; or to another supposition, viz., that the rate of annu. allowed was very large.

In 1839 there was founded in Vienna the Mut. Assu. Co. for Life and Annu. Its bus. consisted of 6 classes: (1). Ins. of sums in case of survivorship. (2). Ditto payable on death. (3). L. annu. immediate or deferred. (4). Ditto payable after death of nominee. (5). Endow. in favour of minors; or L. annu. payable after the death of a nominee until another nominee has attained his 24th year. (6). L. annu. increasing by accumulation of int. with partial alienation of cap. A remarkable feature of this so. was that the sums ins. were only payable in the event of death occurring after 1 year from date of ins. At the close of 1850 the sum ins. in each of the preceding classes was as follows: (1). £5208, (2). 143,984. (3). £1044. (4). £1005; while the prem. fund for each class was: (1.) £2322. (2). £17,521. (3). £8256. (4). £3836. (5). £12,775; which, with reserve funds of £5510, made a total of 49,220. It is believed that the "one year" limitation above mentioned, combined with great strictness in the selection of lives, constitute the chief reasons for the small bus. of the Co.

Regarding Fire Ins.—there were in 1850 5 proprietary offices and 5 mut. ones. The proprietary offices were-(1). The Azienda of Trieste, founded 1822. (2). The First Austrian Ins. Co., founded in Vienna in 1824. (3). The Milan Ins. Co. founded 1826— and not now belonging to Austria, but included here to explain the F. ins. statistics hereafter given. (4). The General Ins. Co. of Trieste, founded 1830. (5). The Riunione Adriatica di Sicurtà, founded in Trieste in 1838. The mutual offices were-(1). The Mut. Fire Ins. Co. of Vienna-for Austria proper and Hungary, founded 1825. (2). Mut. Fire Ins. Co. in Gratz, for the provinces of Styria, Carinthia, and Carniole, founded 1829. (3). Mut. Fire Ins. Co. in Prague, for Bohemia. (4). Mut. Fire Ins. Co. in Inspruck, for the Tyrol, Voralberg, and the principality of Lichtenstein. (5). Mut. Ins. Co. against Fire at Brunn, for the provinces of Moravia and Silesia.

These mut. offices ins. buildings only; and appear to resemble in many respects the Fire Casse of the North German Towns. They are worked upon this plan-each of the members of the so. contributes proportionably to the sum for which he is ins., to the losses and expenses of management, the computation of which is made at the end of each year. In a few the contributions are limited to a certain maximum, which cannot be exceeded. If this maximum be not sufficient to pay the losses and the expenses, the surplus is taken from the reserved fund; or in default thereof, the Board of Management have recourse to a loan repayable in the course of a certain number of years. The reserved fund is formed by means of an admission fee from each member of the so., and by a proportion of the profits set apart in the successful years. These inst. are under high patronage, and are much favoured by the local authorities. The expenses of their management are very small, but their statutes generally are very imperfect, independent of the defects inherent to the mut. system in F. ins. Conditions are enforced which show but little practical knowledge of ins. ; and especially there is a very incomplete classification of risks. The consequence is, or has been, that the proprietors of the worst class of buildings are favoured, at the expense of those who possess better.

Besides the principal F. cos. above described, there exist in some provinces, and especially in Bohemia, a number of mut. asso., the operations of which only extend to a few districts, and the members of which undertake to assist one another, either in money or materials in case of fire; but their organization is too incomplete, or too little known, to be able to speak with proper knowledge of them.

The proprietary offices have subs. capitals varying from £300,000 down to £100,000; but several of them undertake other classes of bus., as Marine Ins., and Transit or Transport Ins. They also ins. merchandize, and other personal property against fire.

We have some account of the aggregate operations of these Fire Ins. offices in 1850. The risks undertaken by the proprietary offices in that year amounted to £71,570,352; by the mut. offices, £21,504,802-together £93,075,150. For losses, repairs, and compensations, the proprietary cos. paid in the year £103,417, being equal to 144 p. c. on sum insured; and the mut. cos. £70,441, being equal to 327 p.c, on sum ins. Together they paid £173,858, equal to 187 p.c. We have not the returns of the prems. received by either class of co.; but we have some returns of the per-centage of contributions paid to the mut. offices in various districts. Thus the contributions amounted, in lower Austria, to 366 p.c.; in Upper Austria, '15 p.c.; in Steirmark, Carinthia, and Krain, 25 p.c.; in Tyrol, 3 p.c.; in Bohemia, Moravia, and Silesia, 48 p.c.

In 1850 there were 30 Marine Ins. Cos. carrying on bus. in the Austrian Empire, chiefly at Trieste; but a few of them in Vienna. Their aggregate cap. was £505,500the largest being £60,000; the smallest, £10,000; the others intermediate. Trieste is the only town in Austria where marine ins. can be carried out on a large scale. Some of these cos. have agencies in Venice. The marine cos. which carry on that bus. solely do not make the state of their affairs public.

There is an Accident Ins. Co.-the Conservator of Vienna. Also a Plate-Glass Ins. -the First Vienna Plate-Glass Ins. Co.; various CATTLE Ins, Cos.; a Mortgage Ins.

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