EQUITABLE, 1107 
puted, and that the surplus stock amounted to nearly £30,000, the 
premiums were reduced one-tenth; and in 1780, Dr. Price having 
1s formed a great number of tables deduced from the probabilities of life 
| at Sweden, Chester, Northampton, and other places, recommended the 
; adoption of either the Chester or the Northampton to the Society in lieu 
h of the tables then in use. This recommendation was agreed to; but 
on calculating the premiums by the Northampton Tables, they were 
- found so far below those which were then in use, that an addition of 
15 per cent was made to prevent too sudden a reduction in the annual 
Raf tho income of the Society ; and to compensate the members for having con- 
me tributed to the success of the Society by the payment of higher pre- 
miums than were necessary, an addition was made to each £100 
fens assured by them of 30s. for every payment which had been made prior 
to the 1st January, 1782. Another investigation of the state of the 
es Society was finished in 1785, the result of which was a determination 
ny. not only to take off the charge of 15 per cent made on the premiums 
he ble deduced from the Northampton Tables, but to make a further addition 
of £1 to each £100 for every payment made prior to the 1st J anuary, 
; 1786 ; so that every person assured before 1772 had 30 per cent added 
to the sum originally assured. From 1786 to 1791, the proportion of] 
claims to the premiums in each year appeared so favourable, that it was 
thought a further addition of £1 per cent might be made to the sums 
assured, without previous investigation ; but in consequence of a ma- 
jority of the general court considering that this measure would afford 
a dangerous precedent, it was resolved, before any further measures 
affecting the finances of the Society should be adopted, that an investi- 
gation should be made of the real state of its affairs to the 31st Dec. 
1792; the result of which was a further addition of 2 per cent, which, 
with the former additions, doubled every £100 assured prior to 1771 ; 
and in the course of two years another addition of £1 per cent was made 
on all assurances of an earlier date than 1795. In consequence of some 
of the members displaying an eagerness on the subject of additions to 
their policies, which Mr. Morgan considered injurious to the real inte- 
rests of the society, a bye-law was made, by which it was ordained * that 
no resolution should be binding which shall be made for increasing an 
mw of allowance to claimants, or for any mode of distributing any part of the 
3 pay! funds or property of the Society, unless four-fifths of the members 
encen# having votes in the general court who shall be present at the court 
ited from whereat such resolution shall be made or approved, shall be consenting 
m for 20 thereto.” In 1799, when the finances of the society had been suffered 
40), when to improve without interruption during the seven preceding years, an 
ms Were investigation of affairs was commenced, and on the 24th of April, 1800, 
rv rate of the work being completed, an addition of 2 per cent for every payment 
Log been prior to January, 1800, was agreed to. At this period three bye-laws 
 hioher were made : the first, that a careful investigation of the value of each 
Soro Cll: policy be repeated once in 10 vears ; the second, that no distribution 
4 92