And the future payments will be £2 annually, or ten shillings quarterly.

The MESSRS. MORGANS, joint-actuaries of the equitable assurance society, and JOHN TIDD PRATT, Esq. barrister at law, appointed by government to examine all institutions formed under this Act, have approved of the equity and safety of the principle.

The plan of this association is similar in its principle to that of the royal naval annuitant society, composed of admirals, captains, and commissioned officers only, amounting in number to about two thousand, whose capital, in little more than seven years, amounts to nearly £60,000; but as the payments to this association considerably exceed those of the royal naval annuitant society, and its members being exempt from the risk of war and unhealthy climates, greater benefits must result to the nominees of its members.

There is a separate fund for officers of the army and navy on full pay, and persons of this class whose lives are exposed to more than ordinary risk, from which fund their annuitants will be paid.

The directors hold a board every Thursday, from 12 to 2 o'clock, for the admission of members, at which the medical officers of the association attend. Every information may be obtained at the office from 10

till 3 daily.

The following is the "Disparity" table.

DISPARITY TABLE, shewing the Sum required, for the Difference of Age between the Subscriber and Nominee, payable at the time of Nomination only.

The following plan for granting annuities, to commence after the age of 55, has been adopted, in order to secure an equitable division of the benefits arising from survivorship amongst the subscribers.

Although the table of rates for deferred annuities is computed by CHARLES ANSELL, Esq. actuary of the atlas life assurance company, to secure annuities of £25 for each annual premium, it is provided by the rules that, at the expiration of ten years from the establishment of this branch, an estimate shall be made of its assets and liabilities, and the annuities apportioned accordingly; and similar estimates to be made every subsequent three years, and the surplus, if any, equitably divided. No member will be permitted to subscribe for more than Two HUNDRED POUNDS PER ANNUM, on his own life or that of his nominee.

Table of annual premiums payable until ages 55, 60, or 65, by persons now of the undermentioned ages next birthdays, to entitle them to annuities not exceeding £25, payable half yearly during life, after attaining the above ages. And also the single present payments in lieu of such annual premiums.

Annuities not exceeding £12. 10s., or £6. 5s., may be effected in like manner by payment of one-half or one-fourth of the following sums.

Entrance fee, 10s. for each annuity. Book of rules, 2s. 6d.

UNIVERSITY ADVANTAGES,

Confined to, or Preference to be given to CLERGYMEN, or the SONS of Clergymen of the Church of England.

Exhibitions.

1. JOSEPH COOKE, of Spaxton, in the county of Somerset, clerk, by his will dated 19th July, 1708, gave unto Nathaniel Palmer, and others therein named, all his lands of inheritance, and all and singular his messuages, and several pieces of land, which he held and enjoyed, either in his own possession, or in the possession of any other person or persons to his use; to hold to them and their successors, to be chosen according to his said will, for 1000 years, at a pepper-corn rent, in trust, (among other things), that his said trustees should elect two hopeful young scholars, born and inhabiting within the deanery of Bridgwater, such as were fitted for the university, and to pay to each of them an annuity of £5 a year, for the term of seven years after their election, provided they constantly resided in the university of Oxford, and diligently applied themselves to the study of good learning in some college or hall in the said university, they bringing every year a certificate from the governors of the said college or hall of their civility and study; and then directed the said feoffees, in the election, to make choice of the sons of poor ministers, in the said deanery, before others, if they should be equally qualified.

There are usually two exhibitions at Oxford, appointed by the trustees, receiving the benefit of this charity.

2. The Rev. LEWIS STEPHENS, D. D., archdeacon of Chester, and rector of Droxford, in the county of Southampton, by his will bearing date 14th November, 1745, directed that £3000, after the decease of certain annuitants, were to be employed for ever in the assisting six exhibitioners at either of the universities of Oxford or Cambridge; two for sons of freemen, and natives of the city of Exeter; two for natives of the county of Devon; and two for natives of the county of Cornwall, all bred three years at least in the free school of Exeter, and chosen to the universities by the mayor and chamber of Exeter, and to continue exhibitioners seven years and no longer. And by his will he excludes all sons, grandsons, nephews, and first cousins of all bishops of Exeter, deans of Exeter, dignitaries and canons of the cathedral church there, from enjoying the said exhibitions, intending the benefit of them for the laborious part of the parochial clergy, the sons of country gentlemen of small fortunes, and for the advantage of the city; and he desired that no preference should be had to his relations, but that every exhibitioner should be chosen by merit only. And he desired the mayor and chamber to take to them two learned clergymen, or more, of the said city or the county of Devon, to examine the candidates publicly in the free school, that any persons might hear the examinations, or judge of the merit of the boys. If any exhibitioner should enter into holy orders, and accept a curacy, he should enjoy the exhibition one year longer, and no

more; the exhibition of that last year should be delivered in divinity books, and not in money, to such exhibitioner becoming curate of a parish, such books to be bought by order of the mayor and chamber, upon their request to some clergyman, to direct them what the books should be. And he also directed, that any exhibitioners having kept four years' residence, and taken the degree of B. A. in one of the universities, and desiring to employ the remaining years in the study of the law in the inns of court, in London, or the study of physic in the hospitals there, or the study of civil law, divinity, or physic, in any foreign university, might receive their exhibitions to the full end of seven years, on sending a certificate once a year to the mayor and chamber, signed by the chiefs where they shall reside, setting forth where they were reading and what they were studying. And he allowed the mayor and chamber to choose one of the exhibitioners for the city of Exeter, to travel abroad for the benefit of trade, to spend four years in trading towns in foreign nations, and the other three years in trade at home. These exhibitions vary from £28 to £36 each.

3. Two exhibitions of £35 per annum each, by Dr. Thomas, bishop of Rochester, for the sons of clergymen of the diocese of Carlisle, educated at St. Bees and Carlisle, are founded in Queen's College, Oxford.

4. Rev. Thomas Lovett, of Nottingham, by will founded in Sidney Sussex college, Cambridge, two exhibitions of the annual value of £45 each; and he directed that no scholar or person whatever shall be entitled to such exhibition, except the son of a clergyman of the established Church of England, and whose father, if living, shall then be, or, if dead, shall have been in priest's orders, and duly qualified for such orders by having taken a regular degree in the university of Oxford or Cambridge; and unless such scholar or person shall be intended to go into holy orders, and shall by himself or friends previously promise and engage that he will enter into deacon's orders, at or before such time as he shall attain to the age of twenty-three years. Preference given to persons educated, taught, and instructed in the free grammar school of Grantham, or that failing, in the free grammar school of Oakham. Tenable for seven years.

5. Two exhibitions, founded in Sidney Sussex college, Cambridge, of £12 per annum each, for sons of clergymen of the Church of England, by Mr. Bearcroft.

6. In Jesus College, Cambridge, eleven scholarships and exhibitions were endowed by Tobias Rustat, Esq. in 1698, the value of which is from £40 to £50 per annum each, for orphans of clergymen of the established Church.

7. See "Corporation of the sons of the clergy," below, p. 280.

Scholarships.

1. Richard Parry, bishop of St. Asaph, in 1622, left a rent charge of £6 per annum, to Jesus College, in Oxford, for the support of one scholar of the diocese of St. Asaph; preference to be given, in the first instance, to his own kindred, then to the son of a clergyman;—and in failure, to boys educated in Ruthin free grammar school;—and that failing, to any one from the diocese of St. Asaph.