JOURNAL

OF THE

INSTITUTE OF ACTUARIES

AND

ASSURANCE MAGAZINE.

“I hold every man a debtor to his profession, from the which as men of course do seek to
receive countenance and profit, so ought they of duty to endeavour themselves by way of
amends to be a help and ornament thereunto."-BACON.

VOL. XVIII.

BODLY

LONDON:

CHARLES & EDWIN LAYTON, 150 FLEET STREET.

NEW YORK: J. H. & C. M. GOODSELL, 156 BROADWAY; AND 156 & 157
WASHINGTON STREET, CHICAGO.

PARIS: ARMAND ANGER, LIBRAIRIE DES ASSURANCES, 48 RUE LAFFITTE.
HAMBURG: W. MAUKE SÖHNE. LA HAGUE: MARTINUS NIJHOFF.

1875.

ENTERED AT STATIONERS' HALL.]

LONDON:

PRINTED BY CHARLES AND EDWIN LAYTON,

FLEET STREET.