The points to be considered in these notes arose in connection with the first valuation of two new Widows' and Orphans' Funds both of which were investigated practically concurrently. In view of the recent establishment of the Funds, it was impossible to obtain any satisfactory experience as regards rates of marriage, mortality, &c., and therefore it was realized at the outset that the valuations would have to be made, at least mainly, upon the basis of data derived from other sources. At the same time, bearing in mind the fact that if the Collective Method of valuation were employed, it would be possible to obtain from the data representing the existing membership certain information that might be of service, it was resolved to approach the problem from that point of view rather than merely to fall back upon the use of extraneous tables. As the work progressed, a number of matters arose that appeared to be of general interest rather than of purely immediate importance, and these notes have been prepared in order to describe and to discuss the chief points that called for consideration.