The subject of this paper has on two previous occasions been brought before the Institute; namely, by Mr. Jellicoe on 26 November 1855, and by Mr. Baden on 27 March 1871. The former of these gentlemen stated that, at the time his paper was written, a great diversity of opinion existed among actuaries, as to the proper method to be adopted in advising upon the proportions in which a settld fund should be divided by mutual consent between the life tenant and the reversioner; and so far as can be judged from the discussion that followd the reading of the latter paper, a similar diversity still existed then. One point, however, was clearly establisht by the discussion, namely, that Mr. Baden was quite mistaken in supposing that, because Mr. Jellicoe's conclusions had not been publicly calld in question, therefore they wer generally accepted by members of the profession.