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. XVII.

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.

1873.

CONTENTS OF VOL. XVII.

On the Valuation of Claims upon current Policies in the Liquidation of a Life

Office, with reference to the Decisions in Bell's and Lancaster's Cases. By

C. J. Bunyon, M.A., Barrister-at-Law, a Vice-President of the Institute

of Actuaries

Abstract of the Discussion on the preceding

Observations on the Rate of Mortality in Infancy and Childhood. By Wilfred

Arthur Bowser, Actuary and Secretary of the London and County Provi-

Ident Institution..

.........

On the Philosophy of Statistics. By W. S. B. Woolhouse, F.R.A.S.

On the Law of the Ages at which Life Insurances are effected. By S. C.

Chandler, Jr., Actuary of the Continental Life Insurance Company, of

New York

Extract from Lord Neaves's Opening Address as President of Section F

(Economic Science and Statistics), at the Meeting of the British Associ-

ation at Edinburgh, 1871...

On "Extra Premium." By James R. Macfadyen, of the Legal and General

Life Assurance Society, Fellow of the Faculty of Actuaries (Scotland) ... 77

The Influence of Occupation upon Health, as shown by the Mortality ex-

perienced. By Francis G. P. Neison, F.S.S..

On the Means of dispensing with Extra Premiums for Deteriorated Health.

By W. M. Makeham, Fellow of the Institute of Actuaries

95

153

On the Construction of a Graduated Table of Mortality from a Limited

Experience. By S. C. Chandler, Jr., Actuary of the Continental Life

Insurance Company, of New York.

Reduction of Formula for Annuities and Assurances investigated by Mr.

Sprague on the common hypothesis of equal decrements in each year of

life. By W. S. B. Woolhouse, F.R.A.S., F.S.S., &c.

161

171

On Mathematical Statistics and its application to Political Economy and

Insurance. By Dr. Theodor Wittstein, Actuary of the Hanover Life

Insurance Company. Translated by T. B. Sprague, M.A. 178, 355, 417

The Law of Life Insurance in France as affected by a recent decision of the

Supreme Court of Judicature. By M. Leon de Montluc, A.I.A., Avocat

à la Cour de Paris.......

189

Note on Mr. Woolhouse's Paper "On the Philosophy of Statistics"

Correction of an Error in Milne's Treatise on Annuities and Assurances (H.

Hoskins)

191

192

On Reversionary Life Interests as Securities for Loans. By T. B. Sprague, M.A.,

Vice-President of the Institute of Actuaries

229

Abstract of the Discussion on the preceding.

241

On the Arithmometer of M. Thomas (de Colmar), and its application to the
Construction of Life Contingency Tables. By Peter Gray, F.R.A.S.,
F.R.M.S., Honorary Member of the Institute of Actuaries

Note on a Method of finding the Value of an Annuity on the Last Surviver of
Three Lives

On the Integral of Gompertz's Function for expressing the Values of Sums

depending upon the contingency of life. By W. M. Makeham, Fellow

of the Institute of Actuaries

Notes on the Observations of the Rev. John Hodgson, M.A., on the Mortality

of the Clergy of England and Wales, with Remarks on the Tables deduced

therefrom by Mr. Samuel Brown. By Wilfred Arthur Bowser, Actuary

and Secretary of the London and County Provident Institution...

Letter from Mr. Samuel Brown on the preceding..

PAGE

249

266

305

328

339

On the application of the Binomial Law to Statistical Enquiries, illustrated
by the Law of the growth of Man at different ages. By Samuel
Brown, F.S.S.

On Errors in Tables of Logarithms of Numbers. By J. W. L. Glaisher, B.A.,
Fellow of Trinity College, Cambridge

On a general Formula for the value of present or future Benefits, whether
free or burdened with charges; and on the application of the Formula to
determining the Surrender Values of Life Policies. By James R. Mac-
fadyen, of the Legal and General Life Assurance Society

Abstract of the Discussion on the preceding..

340

352

381

409