The plan and system of the General Insurance-Office

The plan and system of the General Insurance-Office, instituted the 13th of August, 1787

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.THE
p LAN AND s 1′ s TE r.l
0F THE
GENERAL INSURANCE-OFFICE.

THE
pLAN AND sysTEM
OF THE
GeneralInforance-Office,
INSTITUTED THE
13th of A T,JGUST, 1787,
for infuring his Majefty’s Subjects from Lofs of Property by Burglaries, and all forcible ~ntries, whether by Day or Night, in their Houfes, Ont-houfes, Warehoufes, Shops, and other Premifes~ and from Rqbb~ries on the King’s High- way and ptiblic Streets, and other Spe- (:iesof Felony, and from all Expence of Profecution t4at ma:ybe;incqrn,d tqer<_.). py. I,ONDON; fRINTED llY ]• W. QALJ\BIN, INGRA~~ <::OURT, FENCHURl!H-STREET. l'(l:,J:,?CC.LXXX:VI{, TO THE G 'S , MOST EXCELLENT KIN M A J E S TY. A Y it pleafe your Majelly M moll: gracioufl y to permit us to lay at your Majefly's feet the Plan and Syftem of the General Infurance,Oflice, for infuring your Majefly's fubjed:s from lofs of pro- perty by burglaries, and footpad robberies, ( vi ) robberies, and other fpeties of felo.. ny, and from all expence of profe_~ c'ution incurred - thereby ; which your Majefty, on our petition for your royal charter, was pleafed, by Lord Sydney, oneofyour·Majefly's principal fecretaries of fiate, to re.. fer to your Majefly's attorneyand folicitor general ; and moft humbly. to hope, that we lha.11be thought to have inveI)ted and inflituted an cfrabli!hment, that will be found to conduce, in no fmall degree, to the good of your Majefiy's people, and to ( vii ) to benot altogether undeferving the dillinguithedhonourof your Majefty's royal approbation ; equaUy tending (as it moft undoubtedly will) to fe- cure the property of the fubject, to aid the police of the country, and to increafe the revenue thereof. With every fentiment of loyalty and affection, we beg leave moft hum- bly to fubfcribeourfelves Your MAJESTY's Mofl:devoted fervartts, (i) ~ropcrtpfceurcb. GENERAL INSURANCE-OFFICE, N' 102, Bank-Buildings,RoyalExchang1, InJlituted th~ 13th of AucusT, 1787, For infuring his MajeJly's Subjecls from Lofs of Property by Burglaries, and all forcible Entries, whether by Day or Night, in their Houfes; Out-houfes, Wai-ehoufes, Shops, and Other Premifes, and from Robberies on the Kiag's Highway and public Streets, and other Species of Felo, •Y,andfromallExpenceofProfeculionthatmaybein- curred thereby, by a Company, and Fund, eJlaMifhed for the fame, A General Infurance-Office, for the above purpofes, feems, upon the firft blufh of it, fo immediately calculated' for the general good, that it need only be mentioned, perhaps, to obtain the favour- ableopinionof thepublic. B The Cz) The infuring houfes and goods from fire! has long been thought extremely ufefu!, a~d affociations have been formed for ap- prehending offenders of a particular defcrip- tion, but nothing has ever yet been at- tempted that has gon~, in any degree, to- wards infuring the property of individuals from any fpecies of robbery. The effecting this great and moft defira• ble object appears to have been referved for the General Infurance-Office; and the cam~ pany flatter themfelves that the prefent rera will not be altogether undiftinguiihed by an efl:abliihment that goes to make the mindsof perfons eafy as to any lofs of property by ·burglaries on their dwelling-houfes, &c.and robberies on the king's highway and public ftreets, and other fpecies of felony, and all expence of profecution in cafe thereof, and that even at a lefs premium than is paid in: many neighbourhoods merely for appre• hending thieves and robbers. Nor have the company been at all preci- pitate in offering themfelves to the confide- ration (3) rationofthepublic. Vainastheymayhave been of the nature and tendency of their plan, they have not ventured to bring it forward undigefted or un~onfidered. Per- fons in every line of life, and no lefs diftin- guilhed for the refp~cl-abi!ityof their fitua- tions than for the foundnefs of their under- .ftandingand ~heextent of their knowledge, have been pleafed to pay ~t the warmeft en- fOmiums, and to think it not only ratiqnal jn itfelf, but likely to prove extremely be- neficial, and, confequently, highly accep- · table to the commu11ityin general. Flattering ~s this approbation is, it is trufted that it willnot be thought altogether unfounded, fince the General Infurance-:- Officenot only infures the prQperty,but alfo goes to the fecurity of the perfan,of his ma- jefty's fubjefrs, fince,in cafe of attack, {hould ~heybe infured at th,e office, they will have no motive for refifting or withholding the property they may have about them, which isgenera.Ily,if not always, the occafiono,f the1~reing ill ufed, and frequently of pro- . 2. ber,s · · · ·
Note, .l\ny perfon infured, upon being robbed, and giving information of th~ fame at the office, may have immediate af- fiftance, th~re being a number of able men
G qp4
( IO )
;1ndhorfesconftantlykeptfor apprC!hending thievesand robber$,
TQ
( Jl )
To allPerfons to whom thefe Prefents iliall come, we,whofeNames and Sealsare hereunto fubfcribed and affixed,fendgreeting.
W HEREAS; upon mature con!ideration, it appeareth, that cliepublic may derive great benefit and advantage from the eftablilh- ment of a Company for a General lnfurance from lo!s by burglaries, larcenies, and rol?beries, in conlideration of a premium to be paid by the
infured, proportionate co the chahce of the lofs, the value of the property infured, and the time for which the infurance may be made: And whereas, we have propofed and agreed to advance and raife among ciurfelvesa fum of 10,0001. co be divided into 200 equal fhares, and each mem• her to receive a dividend of the profits in pro- portion to his.ftock. The above fum of I o,oool. co be appropriated and fee apart as a fund to an- fwer and pay the feveral claims and demands which th~ inforcd may be intitled to make upon
C2 tbe
( I,r)
the faid company, and as a fecurity to the infured’, foi-the p~yment and fatisfaction of fuch. claims and demands: Now know ye, that we, whofe names anfollows: _(that is to fay,)
Two-pence in the pound up to 201.
From 20I. to rnol. one halfpenny in the pound. From 1001. to 200!. half-a- -crown per hundred. From 2001. to 3001. IS. 6d. ditto.
And for every additional 1001, IS, ditto,
And,
( 13 j
And, when watches are included in fuch infill-‘ tances of houfekeepers and lodgers, the infured: 1hall,in refpeel:thereof,
Pay a premium of three-pence in the pound Clpto 51.
And, from 51. to 101. a premium of two-pence ‘ ,in the pound,
And, for every additional pound, a premium of one pen’ny.
And, when bank-notes, and bank-bills, and plate, are included in filch infurances of houfe- keepers and lodgers, the infured fuall, in refpeel: thereof, pay a premium of three-pence in the ‘ pound up to 501.from 501. to ,2001.two-pence in the pound, and for every additional pound one penny; and, when calh is,included therein, the in-
fured lhall, in refpe& thereof, pay a premium of thrce-pei;icein the pound. And, that all fhop- keepersandwarehoufemenof the following de-, ,f’cription, namely, pawnbrokers, goldfmiths, fil- verfmiths,jewellers, lacemen, watch-makers, and others, that may be deemed doubly hazardous, infuring, by the year, from lofs of their flock in trade by burglaries and larceny, (where there ii. an actual breaking ,and entering, and not other-
wife,) and from all expences of profecution iw cafc:;
G 1,i. >
cafe thereof, !hall pay as follows : (that is to fay,j
tliree·pence in the pound up to rooJ.and fi-oin 100!. to 200!. a premium of two-pence in the -pound, and from 2001. to 3001. a premium of dhe penny irt the pound; and fot every additional 1001. a premium of 2s. and for every infurance of 5001.and not lefs, a premium of 2I. ros. and for every 1001. above 5001. a·premium of 2s; and that all lhopkeepers and watehoufemen of any other defcription than thofe above mentioned, jnfur:ing by the year, from lofs of their frock in trade by burglaries and larceny, (where there is an aclual breaking and entering, and not otherwifc,) and from all expences of profecution in refpecl: thereof !hall pay as follows: (that is to fay,)
two-pence in the pound up to 2·01. from 20I. to 1001, a premium of one penny in the pound; from 1001. to 2001. a premium of 2s. 6d. per hundred ; from 2001. to 300I. a premium of 1s. 6d. per hundred; and for every additional 100!. a premium of 1s. per hundred. And that all perfons, infuring for one year from lofs by high- way and ftreet robberies, and all expences of profecution in refpeel:thereof, !hall pay as follows: (that is to fay,) when the infurance is from lofs of money, the premium !hall be four-pence in the pound up to 501.from 50!. co 100!, or upwards,
Iii
( 15 )
a premium of two-pence in the poundi and, when
the infurance is from lofs of watches, the premi11q1 !hall be four-pence in the pound up to 51. and from 51.to 10I. a premium of three-pence in the pound, and for every additional pound a pre- mium of two-pence in the pound. And, that all perfons ipforing by the year from lofs by ~aviqg their horfes ftolen, wl,ether at grafs or ftable, and from aU expences of profecution in refpeel: thereof, !ball pay as follows: (that is to fay,) half-a-crown for any horfe not worth more than rol. and from 10!. to 20!. a premium of 2s. for every rol. and for every additional ~ol. a premium of xs. 6d. for eve~y 10!. and that all perfons infuring by the year from all expences of profecuti9ns · <:>ntheir own ac.count, for lofs of any property, whether by burglaries,
·highway or (treet r9bberies, horfe-ftealing, ilieep ftealing, fwindling, forgeries, petty thefts, and all other offences of a felonious na- fure, fhall pay f1premium of 5s:for the year.
~nd we, whofe names and feals are hereunto fubfcribed and affixed, do hereby, ~ach·of u~, covenant, promife, and agree, to and with the others of us, to advance and pay the fum of money, hereunto by us refpecl:ivelyfubfcribed, 11nd fet againft our ·refpecl:ive names, making
together
( 16 .,
-t:<>gethetrhe fum of 10,coo!. which !hall bepaid into the bank of England in the 11amesof
as truftces for, and who ihali ftand and be pof- felred of the fame ‘in truft for, the faid company, And that fuch of us, as have hereunto fubfcribeda fum not lefs than 5001.lhall be at liberty eichertq pay the whole of the fum fo fubfcribed imme- diately, or on the execution of thefe prefems, or in the manner and by the inftalments follow- ing; that is to fay, one fourth pi!,rtthereofal the time of Cllecuting thefe prefents, one other fourth part thereof at the end of three months from the fame time, another fo1Jrthpart there- of at the end of fix months, and the remaining fourth part thereof at the end of nine months from the fame time.
And, ihould any perfon or perfons fobfcribe the fum of 5001. or more, and not make good his o_r her payments, l.lS afore(3id, by the regular
i,oftalments,
( ·~)
in!l:alments, fuch perfon or perfons ihall forfeir;
to the faid company, fuch fum or fums of money as they may have depofited or fubfcribed.
And, lhould any perfon become a member, or fubfcribe any fum lefs than five hundred pounds; he or !he !hall pay one half of his or her fubfcrip~ tion on being admitted a member of the aforefaid company, and the remainder within one month from the time of his or her admittance into the faid company, or forfeit the fum depofited or fubfcribed.
And1 we db hereby farther mutually agree with ~ach other in manner following ; that is to fay, that each of us !hall, for every 50!. which he or !he lhall fo pay into the bank of England, have delivered unto him or her; by the calhier of the faid company, a warrant, or certificate, figned by fuch calhier, fpecifying the payment of the fame; and which warrants, or certificates, each of us lhall be at liberty to fell, transfer, or affign, at his or her free will and pleafure. That a book or books lhall be provided and kept for the faid company, for the purpofe of entering and regiftering therein fuch transfers ; and that,
from and after the time the fame lhall be duly entered and regiftcred, tl;ieperfon, to whom fuch D · transfer
( 18 )
transfer lhall have been made, lhall become anci 1hall be deemed and confidered as a member of
the faid company, and be entitled to participate of the benefits· and advantages which may ac. crue to fuch company, provided that the perfon co whom fuch transfer is madt>, does, at the fame. time, fubfcribe a memorandum, ot declaration, in the fame book, fignifying his confent and agreement to become a member of the faid com- pany and to obferve and conform to the feveral rules, orders, regulations, and agreements, herein
contained, or which lhall be made by, for, ot’ concerning, the faid company.
That every perfon, who lhall become a mem- ber of the faid company and a holder of oneor more of the aforefaid warrants, or certificates, Jhall be at liberty to fell, affign, or transfer, the fame in like manner, and the feveral and fucceffive aflignee or aflignees thereof fhall in like man-
ner be deemed and confidered as a member 01 members of the faid company, and be entitled to participate of the benefits and advantages which 1nay accrue to fuch company, provided that fuclt feveral and refpecl:ive transfers be regiftered as aforefaid, and that fuch feveral and fucceffive affignee or aflignees do fubfcribe fuch memo- randum, or declaration, as aforefaid,
And
( 19 )
And faither, that every member of the faid
company !hall, for every Of\eof fuch warrants, °’° 1=ertificatesa,s aforefaid, of which he or lhe may be
the holder, be entitled to one lhare of the ftock 1
or fund, ‘ belo!]g’tng to the faid company, and qf ti\e pro~ts to arife from the aforefaid In- furances by the receipt of the faid premiums, or ptherwife; but that no one uiem.ber of the faid company !hall, at any one time, be the holder of or intitled to any more than twenty lhares of foch ftock or fund and profits; fave and except William Weller, Efq. her~afcer mentioned, who jball be at liberty, at l\11timt;s, to hold arn;l po!fefsfifty lhares, and not more.
And moreover, that, upon the death of any \)f fuch members, their refpecl:ive perfonal repre- fentatives ll,iall be at liberty to fell, transfer, or affign, the warrants, or certificates, of which fuch deceafedmm1bers/hall, ~tthei; refpecl:ivedeaths, be poJfe!fed, in like manner as fuch deceafed ~embers might have done if living; but foch perfonal reprefentatives /hall not, as fuch, be con- fidered as members of the rai company, though
·they !hall, until the making of fuch transfer,- be entitled to receive a fhare or Jhares of the faid profits according to the number of the fai_\l w11rrantso,r certificates, in·their·poff’effion. ·
• p ; That ~
( 20 )
That, for the more orderly and elfecluaJ management of the affairs of the faid ·company, there !hall, during the continuance of the faicl company, t,e, of the members of the faid com. pany, five perfons who !hall be called direcl:ors of the faid company ; and, of the five direcl:ors, one !hall be governor, or !hall exercife the office of governor, and one !hall be deputy-governor or fhall exercife the office of deputy.governor, of the faid company ; which faid direcl:or~ and officers, or perfons exerci!ing the faid offices, :!hall be fever.dly and refpectively chofen, ancl fuall exercife their faid feveral and refpective offices in manner herein after mentioned.
That any three or more of the faid directors, whereof the governor or the deputy-governor :!hall always be one, being alfembled together (in the place which fhall be appropriated for that purpofe) in confeq11encepf a fummons from the governor, or perfon exerci!ing the officeof governor of the faid \)ompany, or, in his ab· fence, from the deputy-governor, or perfon ex- erci!ing the faid office of d eputy – governor, or, in the abfence of the deputy-governor, f,om any one of the directors of the faid company, (which fummoqs fhall be left at the dwel!ing-houfe or
ufual
( 21 )
ufual place of habitation of every director of the faid company for the time being, who 1hall be refident within the bills of mortality of the city of London, at lealt three days before the day appointed for fuch alfembling,) 1hall be called a court of directors of the faid company.
That fuch court of directors, being fo affem- bled, /hall have power to order and direct the ;itfairs of the faid company according to the rules, directions, ordinances, and regulations, jlerein particularly mentioned, or according ·to · fuch bye-laws, regulations, or ordinances, as Jhall at any time or times hereafter be made by a general court or meeting of the faid company; and, before fuch court of directors, fhall proof be made, by all thofe who fhall be claimants upon the faid company, of thdofs fuftained by fuch claimant, and of every particular refpecting the fame, and the value thereof, and, after proof fo made, fuch court of directors fhall have power to pay or order the payment of any fum or fums of money which fhall or may be daimed, and fhall be due by reafon of the agreement granted by, or entered into by, the faid company,
or which fhall or may otherwife become due jnCilpayable from the faid company.
That
( zz )
That the faid (:Oμrt of direcl:ors lhall, by l’)’lajorityof votes, from time to time, nominate and choofe two perfons, who /hall be and acl as truftees for the faid company, and in whofe names the aforefaid capital, or frock, of 10,000/. !hall be placed, which faid truftees !hall be continued only during the pleafure of the court of directors_ Gf the faid company ,
.,A.n,dthe f;iid court of directors fhall have power to remove the faid truftees, or either of ihem, from their faid trufts. And, in cafe the faid truftees, or either of them, !hall be fo re. moved, they or he, who !hall be fo removed, Shall, upon the refol1.1tionof the faid court ro; his or their removal being notified to them or him in writing, fi!);nedby the fecretary of the
faid company, furrender up and affign all theiror his eftate and intereft in any of the fecurities or moneys belonging to the faid company, and then being in his or their names, and in the faid truft, in fuch manner, and to fuch perfons or perfon, as the faid court of direcl:ors !hall direcl: and appoint_. And when, and fo often as, the faid trufte~s, or either of them, !hall die or be removed, then new truftees or a new truftee fhall be chofen, i~
manner before-mentioned, in the room, or ftead, qf
( 23 )
ef thofe or of the one fo deceafed or removed. And, as often as a new i:ruftee or truftees lhall be chofen, the former trufiee or truftees lhall affign all his or their eftate and intereO: to fuch new trufiee or truftees fo chofen, at the appointment of the faid directors, and at the proper cofts ot the faid company; and all or every fuGh per-
fon or perfons as fhall be chofen truO:eeor truftees; in manner aforefaid, Jhall, previouOy to his or their acting in fuch trufts, enter into fuch fe- curities, and give and execute fuch ‘covenants and declarations of truft, for the difcharge thereat, as !hall be good, valid, and effectual, in the law, for that purpofe.
That all contracts and agreements, entered into by the faid company, Jhall be entered into, or given by, and in, the names of two or more of the directors, for the time b~ing, of the faid company. And all contracts and agreements, touching or concerning the faid company, fhall be ligned by them and in their names.
That all directors and truftees, for the timo. being, of the faid company, !hall be indeq:rnified and faved harmlefs, by the faid company, from
and again(!:all charges, damages, and expences, whichthey!hallormaybeputunto,orfuOa:in, by
( 2.4 )
byreafon, or means, of acring in their refpec1:ive trufts, or the clue execution thereof; and that none of them fhall be chargeable for any of the acts or defaults of each other, but each for their own acls or defaults only.
That all the lawful acts, covenants, contra&, and orders, of the faid directors and truftees, lhall charge and bind all and every perfon or perfons who !hall by any ways or means become a member or members of the faid company, as their own proper act or acls.
That, inafmuch as no evil may enfue for want of notice of a meeting, when the time and place of bufinefs of that meeting /hall be previ- ouily known, to avoid the inconvenience and im- pediment which may arife from unnecelfary no- tices in the tranfaction of fuch bufinefs of the faid company as /hall be frequent and invariable, there !hall be, befides thofe courts of diretcors of the faid company which are to be held in
confequence of a fummons, from time to time, in manner before-mentioned, an attendance from ten till two o’clock, every day, of two or more of the directors, (the governor and deputy-go- vernor being confidered as directors,) without any fommons, at the houfe or office of the faid
company,
( 25 )
company, for the purpofe of granting or 3’1low- ing agreements, and tranfalting any other necef- fary or occafional bufinefs relll,ting to the faid company, office-holidays excepted.
And, in order to make fome compenfatio~ to the direltors of the faid company for the trouble and pains whj~h they mull: neceffarily take, and the lofs Qf time they mull: nece.(farily fufta,in, by attending upon the affairs and bufi- ,iefs of the faid company, there !hall be paid a certain allow;mce of fiii:p~nceon every agreement pf infurance, figned by the direltors ,!S aforefaid, to be equally fuared apd divided among them for their own feparat~ ufe and benefit.
That there fuall be, during the continuance of the faid company, one perfon who fhaJI be calleq the fecretary of th~ faid company ; and the faid fecretary, or perfon who !hall executt the office of fecretary of the faid company, !hall giv~ attendance every day, (office-holidays ex- cepted,) from the hours of ten till three, at Jhe houfe, or office, of the faid company, · in qrder t.o do and execute fuch bufinefs of the faid co111• pany as !hall appertain to the faid office.
That William Weller, Efq. (who is the firfi: ~rfcn whofe n~me and feal is here~nto fubfcri-
8e4
( :i6
bed and affixed,) -and thofe four ·perfons whore names and feals are hereunto fubfcribed and affixed next after the faid William Weller, and who !hall refpectively fubfcribe any fum not lefs than 300!. !hall be the firft and prefent di. 1rectors of the faid company, and fhall continue in their feveral and refpective offices until other fit and prop,:r pe.rfons fhall be duly chofen in
their feveral and refpettive rooms, at the times ;1nd in mani!er hereinaftei:, in that behalf, parti, cularly directed and appointed,
That, of the faid firft and prefent directors of the faid company, the faid William Weller !hall be the firfl: and prefent governor of the faid company; and that the perfon, whofename, ;md feal, is hereunto fubfcribed, and affixed, nqt ~fcer the name of the faid William Weller, who l11allhave fobfcribed any fum not lefsthan 300!. fhall be th~ firft and prefent deputy• governor of the faid company. And, forafmuch as it is reafonably imagined that the bufinefs of the faid company will, with advantage, be carried on under the. more immediate infpec· tion of the faid William Weller, to w/iofegreat pains and attention is 9wing the efl:ablilhment
pf th~ faid COl!lP~l\f, the f~id William Wejb l;f
( ’17 )
ier {hall be and continue a director ancl. alfd governor of the faid company for and during the term of five years, (unlefs he lb.all, before the expiration of fuch term, voluntarily relign, or relinquilh, fuch office;) at the expiration of which, the faid William Weller, /hall be re-elected, or a new governor appointecl, a1 may be thought fit by the majority of the
faid company at a general meeting.
And as an acknowledgement to the faid Wil-
liam Weller, for the part which he hath borne in Inventing, forming, fixing, and dhblifhing, the faid company, (with John Dent, hereafter men- tioned,) and in fome rheafure to recompenfe h’im for the trouble which he hath already undergone, ind may undergo hereafter, in the affairs thereof j the faid William Weller !hall be entitled toi and be paid during his life, eight-pence in the pound out of the profits, ariling from the in furances by the faid premiums, that is, the difference betwee11 lnoney received for infurances and lo!fes made good; to be paid to him qliarterly, before any
divilion is made of fuch profits amongft the mem- bers of the faid company; and the faid William Weller /hall likewife have the nomination aria appointment of the banker or bankers for the keeping th~ cafh belonging to the faid company.
E That
( 2s )
That John Dent, of New Bridge-Street, iii ihe parifh of Lambed,, in the county of Surrey, Gene. lhall be the firft and prefent fecr’etary of the faid company. And the faid John Dent, for and in the name of his faid office of fecretary of the faid <'ompany, and alfo as an acknowledgement for the pare which he hach borne with the aforefaid William Weller, Efq. in inventing, forming, fixing, and eftablilhing, the laid company, and in fome meafure to recompenfe him for the trou- ble which he hath undergone with the afor~faid VVilliam Weller, Efq. and may undergo here- after in the affairs thereof, fhall receive of thl!. faid company, during the time he fhall continue fecretary as aforefaid, the fum of 200!. the firft year, and 300I. every year afterwards, and !hall hold and be continued in fuch office of fecretary during his life, or until he fhall voluntarily refigri or relinquifh the fame, and !hall not be removed, or removable cherefrom, unlefs he /hall be guilty of any neglect of duty, or breach of tmft, in or relating to fuch his office. And, as a farther recompence to the faid John Dent, he !hall be rncitled to during his life,and lhall be paid, thefum of four-pence in the pound, out of the profits, in like manner as aforementioned to the afore- faid C 29, j faid William Weller, Efq.to be paid td hirrt quarterly, before any divilion is made af fuch profits among the members of the faid company. · That, in confideration of their joint--,and fepa~ rate fervices in inventing and forming the eftabfifu- ment, and the more effecrually to attach the fard Vvm. Weller and John Dent to the intereft of the faid company, there fhall, upon the death of the faid Wm. Weller, in cafe he fhall leave a widow, be paid to fuch his widow, during her life, a penfion, or yearly funr, of 1501.by the faid company. And, in cafe he fhall leave no widow, or leaving one, then after her death, the fame pen- lion, or yearly fum, to be allowed and paid to Ca- therine Elizabeth Well er, the daughter of the faid William Weller, dur ing her life, and for her own· fole and feparate ufe and benefit in cafe of marriage. And that, upon the death of the faid John Dent, in cafe he fhall leave a widow; there /hall be paid to fuch his widow, during her life, a pen/ion, or yearly fum, of 80!. by the faid company; and, in cafe the faid John Dent fha:11 leave no widow, or leaving one, then after her death, the fame penfion or yearly fum to be al- lowed or paid to fuch children or child of the fuidJohn Dent as !hall be then living, equally to be tjO ' he divided between them, if more than tine, of; if but one, then wholly to jj.ichone during his or her lives or life, the aforefaid penfions to bo paid quarterly, on the four ufual fea!l:-days. That Jeffintour Rozea, of Paddington-11:reet, Marylebone, in the county of Middlefex, Efq. lhall be the firft and prefent calhier and account- ant, and fuperintendant of the accounts of the faiq company, for and during the term of his natural life, unlefs the directors fhould find good and fuf. ficient caufe to remove him from the faid office, And th~ faid ·J effintour Rozea, for and in the name of his faid office, !hall receive, of and from the faid compa ny, a yearly falary of And the faid J effinrour Rozea !hall, if thereunto required by the governor and a majority of rhe directors of the faid company, enter into, and give a bond, with fuf!icient fureties, to the go• -vernor and directors of the faid company for the time being, duly to account for, and pay, all foch fum and fums of money, as ihall or may come to his hands, for or Of! account of the faid company. And, that Edward Weller be ap- pointed deputy cdhier and accomptanr, ar a fa• lary of the firft year, and every year after. That ( Jl That Thomas Harris, who has rendered fer- vices to the aforefaid William Weller, Efq, and John Dent, fuall deliver, at the rcfpeo- tive habitatiqns of the infured, the agreements o(perfonsw!iomay have iqfure~, .:ind!hall upon qeliveringt/ie fame receive the money or balance due, or to be paid thereon, and fuall have a fa- lary of£ the firft year, and £ everyyear after ; and fuall alfo have, out of all IJ1!Jnenfo re~eived, either by himfelf, or any perfonor perfons the company may think necef- faryto have employed under him for the above purpofes, for his own ufe, the fom of one.· penny in the pound, to be deducted by the faid ThomasHarristherefrom; andthat hisn·owwifr. )MaryHarris, fhall at his death, prnvided fh~ forviveshim, receive from the company, to be paid in quarterly payments, an annuity of 401. for her natural life.' That William Baldwin and Ifaac Johnfon. Efqrs. barrifters at law, fhall, during their lives. be retained and employed, by the faid compa- ny, as their counfel in all cafes where the af- fiftanceofcoupfel fh!lllbe wanting or thought rrq1Ji4t,~ ( 32 ) · That SamuelCooper, Efq , iball be the flril: and prefent folicitor and attorney for the faiq company, in all acl:ions, fuits, and pro- fecutions. And the faid Samuel Cooper, for and in the name of his faid office, Qiall receive, of ancl frgm ihe faid company, a- yearly fum of pver and be/ides his bills of cofts, charges, and expenc~s, which 1hall or may be incurred by, for, or on ;1,q:ouptof, the bulinefs of the faid i::ompany. That there iball be an affiftant-attorney, or. fQ.llicitor, for criminal profecutions, who lhall receive, of and fromthe faid cq111pany, reijr)yfalary of - . Tqat fuch f'everal ofl'i.cesor ai;ipointmentsof 1::a1Qier~eputy-ql}l.iera report~r, folicitor, anc\· 1 _ depuJy• ( 33 ) deputy-folicitor, &c. of the faid company, /hall continue during the refpecl:ive lives of the faid feveral perfons hereby appointed thereto as afore- faid, they refpecl:ively continuing their fidelity to the faid company; and not being guilty of any wilful·mifcondticl:in their refpecl:iveoffices; the judges and determiners of which /hall be the majority of the directors for the time being, and approved of at a general court, That the faid Cevera]falarie,, or yearly fums; {hall be refpecl:ively paid and retained by the faid' cafhier and accountant, out of the calh of the faid company, or fo much as lhall be fuffici-- ent to difcharge the fame by four quarterly pay- mehts, on the four maft ufual feafts, or days of payment, in the year ; the firft payments thereof refpecl:ivelyto be made on the firft of the faid days which lhall happen next afrer the date of thefe prefents, That John Stockdale<,of Piccadilly, in the county ofMiddlefex, bookfeller, /hall be the fir!l: and prefent bookfeller and ftationer, to fupply and furnifh the faid company with fuch books and ftationary wares as fhall or may be required for the ufe of the faid company at their office, No, 10,., Bank-buildings, during his natura:I F life, ( ~4 ' life, he not being guilty of rriifconauci or niil, behaviour to the faid company, to be adjudged .-.ild determined by a; ma}orityof the directors. That there lhall be,,upon the laft Th-orfdayirl the month of March, in the year of our Lord, 17-88, or within the firft forty days next after, and upon the !aft Thorfday in every foe;. cceding month of March, or within:forty day, next after, one general court, or meeting, of the' faid company, for the election of directors of tht faid company ; of the time and place of which court, or meeting, at leaft days notice !hall be given in tlie London Ga.. zette, or in fome or one other o( the public papers, by the fecretary, or perfon executing tht' office of fecretary, of the faid company ; and' whereas all the members of the faid company, or as many of them as lhalI think proper, lhall be prefenr, (at which general court, or meeting,, whereof the governor, deputy-governor, or one of the perfons executing the faid feveral offices, or one of the directors of the faid company, fhall always be one,) fhall eletl: and choofe, from among the members of the faid company then prefent, five proper perfons to be directors of the faid company for the year enftt• ing, ! ,JS ) ~ng, ( except, that during the time for which the faid William We}ler ~s tQ ,r,er;naina director and gQvernor as aforefa/d, only four RCFfonslhall ,be fo elected and che~n 🙂 4n~ ~hl}t the per.Cons, fo elected an_d cji.ofen? fual/ n_oi;ninate and make choiceof two of their number to be governo.a :ind deputy-governor~ (,excep~ during the time for which the faid William Well er is to re- main a directpr ami gov~rnor aforefaid, only deputy-governor fuall b;e fo nqminat¥ and .chofen:) .,,_ndtl)atfuchperfoos,fqe);,cledand ~hofen as af~refaid, fhall be and cont)nHe direc- tors of the faid company fqr the ye_ar i:rf.l/ing, and until other fit and proper pcrfoqs fh~ll iu like mani,er be d),llf elected 11ndchofen in thejr i-oom, and which faid elect ion' and · cl~ice of ,perfons, to be directors of the faid company, fq~)l ~e made by t~ majority of the meQ'lb,ersp~efe~t :1tfuch meetings; provid,d, peverthelefs, th~t qo member of the faid cqmpany {hall be elcB:~d, oz: 1 Fhofen, a direcl:or, that lh~U not ~t fhe ~im~ of foch electipn be, and that {h~!l nqt hl!;vebee~ forthree mon.ths previotls thereto,pqlfelfedo~ 11n~/n~itledto, in his own name, and in ~is ow~ ;ight, fix fuares, at the leafr, of the aforefaicf, H pit~l, or joint flock, of 10,0001 . And, in cafe ''f ~f ( 36 ) cl the death 8r relignation of any perfon foelecl:~q and chofen a direcl:or as aforefaid, before the expiration of the time for which he was fo chofeq a a'irecl:or; then, :\nd in every fuch cafe, another fit and proper perfon, qualified as aforefaid, Iha!! in like manner, within · , cjays, lie elell:ed !!nd ~hofen in the room anq ftead of the perfon fo dying or reμgning. That all elecl:ionsof direcl:ors, <>rof any per~ fons who are tq exercjfe the office of direcl:ors,iq the faid company, :ind al! matters apd things to l;,etranfacl:ed or qpne in all general courts or meeting~ of the f:iid i;ompa!ly,!hall be made, done
1 :\nd d,termined, by a rpajwity of votes of thofe
members of the faid company who {μall he pre- fent at fuch court or meeting; and po qne mem- ber of the f:\id company Jhall, in any matter Of thing, haye or givi: any more than qne vote, ex~ 1=epthat in cafe upon ;iny que!1:ionput in any court_,or meeting, of the faid company, there Jhall be an equal nμmber of voices, or votes, on or for each fide of the que(l:ion, ~nd then the perfon, ,who!according to the rules and reg~lations of th!
faid company !hall prefide at fuch court,or meet• jng! lh~ll have ~hecaftin,vgoice, or vote:
( 37 )
That there lhall be in every year four general courts, or meetings, of the whole company, to be. holden quarterly, upon the fir(l Thurfday of the feveralmonths of March, June, September, and December, and as many more general cour!s,_or meetings, of the whole company, as the governor, deputy-governor, or either of the perfons refpec- tively exercifing the faid offices, or any three of the directors of the faid company fuall think ne- cdfary. And that at lea!l ten days notice of the time when, and the place where fuch general court is to be holden, fuall be given in the Lon- dimGazette, or in fome or one of the public papers, by the fecretary, or perfon executing the
oJl’iceof fecretary, of the faid company.
That the faid general courts,being fo affembled, fuallhave power to make ftatutes and bye-laws, rules, orders, and ordinances, . for the good order of the faid company, and the fame at their plea- fure to annul and alter, and to d~termine and
direcr the form and manner to be obferved in making the proper and neceffary advance or al- ttration of t/le pr~miums of inforance herein-he~ forementioned, and to determine upon any other matters relating to, and for the benefit and ad- :pntage of,the fail cpmpapy; but no fuch ftatutes
or
( 38 )
–,irbye-laws, rules, orders, or ordinances, lh~IIbe binding, until the fame fhall have received the approbation of two fucceffive~eneral courts, or
meetings, of the faid company; and no rewal of ;my ftatutf, bye-law, rule, ordei;, or ordinance, :{hallbe binding, until the fame fuall have recei- ved the appropatiop of two foc~ffive g~neny rou,ts, ormeetip!5s1of$e fajdcompany.
That a}Jcontra& a.ni!agreements, to al- J.owed, fig11ed,and executed, iIJ manner hereill hefore-mentioned /hall be mad!: out in fucb
1
manner and form as !hall be deter~ined upoq
and fettled, from ti~ f{?tim,e, byfhe ~irector~ pf th<;faidcomp.any: · · That, at ,each and e11eryof the aforefaidgene~ ral courts, o1 m_eetings, of the faid company, tq be held quarterly, as herein before mentioned, true ftate of the affairsof the fai.4 cqmpany fhal! be laid before the members ~en prefer,t fqr their jnfpecl:ion, fa as that it may t),erefrom clearly appear what fums haye been receivcd apd paitl (or or on the account of tlir, faid company, an~ Yvhtt(11mof money or balance is then in the ' ba.nds pf Fhe bankers of the faid FOmpany, and which ftater.i,e11tpf affairs and accounts fual~ hm bee~ p~~~4m~4gned j:>y ll!Jljorityof the
• c;liect~ 1
( 39 )
dire~ots prefent at the then lafr preceding court of direttors of the faid company; and In cafe, after deducl:ing and allowing for all expences of everyfort and kind, which fhatl have been in- curred by, for, or on ~ccount of, the faid com:.. pany; and after deducl:ing and allowing all fums of money, which the faid company Jhall on any accountwhateveFbe liable to pay, and alfo after deducting and paying the feveral !hares of pro- fits, which it is herein before agreed, the faid WilllamWeller and John Dent, Jhall be refpec- tively intit!ed to for their lives, as aforefaid; iftherelhall’appear to be a’.clear balance’; or fur-
plus of calh belonging to the faid company,· amounting to not lefs than 51. per cent. upon the aforefaidcapital, or joint frock, of 10,000!. then, and in every fuch cafe, ftrch clear furplus; or balance, !hall be divided into fuch a numbet ‘ of /haresas fhall be equal to the number of certifi~ cares, or warrants, which !hall have been ilfued and given to the perfons fubfcribing to thefe pre- ients, in manner herein before mentioned. And each and every member of the faid company, or his or her attorney, or agent, properly au- thorized, lhall receive and be paid fo many of fuch lhares of the faid ~!ear furplus, or balance
of
l 4d )
~tcaib, as !hall be equal to the number (}f the faid warrants, or tickets, of which.fuch
member !hall appear to be the holder,
That all the expe11ces,which the faid William
Weller and John Dent fhall refpectively havebeen put to, in or on account of the forming and efta- bliihing the faid company, or General Infurance- Office, fhall be confidered as part of the expences incurred, for, or on account of, the faid eompany; and fuall be paid and fatisfied to them in the fame man11eras the expences incurred by, for, or ori account of, the faid company, are to be defrayed and fatisfied: that is to fay, out of the cafh, or moneys, belonging to the faid compa11y.
That every perfon, applying to the faid infu< ranee-office to make infurance, !hall exprefs iri writing the nature and particulars of the infurance propofed to be made, fetting forth the feveral articles thereof feparately and diO:inctly, with the amount to which the infurance is propofed to be made: that is to fay, if for burglaries and larceny', it !hall be fet forth, whether the infurance is for furniture, flock in trade, plate_, money, or what dfe; and to what amount each is to be infured: and, if from-highway and ftreet robberies, whe- ther the in(urance is for money or watches, Ot what ( 41 ' :what elfe, and to what amount eaG:his to be in- fored : and, if the infurance is to be for a horfe or horfes, the age, mark, and .colour, or age, marks, and colours, with the -value of the fame, i,s to b.e pa_rticularly defcribed, and the whole of the premium paic) at the time the agreement fhall be made out and li,gned, as herein before ex- preffed; or, if ca~tle, fheep, or any other live flock, their value per head, as near as can be af- _certained, !hail be alfo given. That, in cafe any perfon to whom any ~gree- ment for infurance fhall be granted, as aforefa~d, fhall happen to die before the expiration of the time for which it is given, the faid agreeme11t,with every benefit an.d advantage thereof, fha!I go and belong to his or her perfonal reprefentatives, and shall be fo transferred by an i11dorfementmade for that purpofe by the fecretary of the faid company. And, in ,cafe any perfon infured, as aforefaid, from burglaries, larce_nies, ~r highway robberies, or otherwife, fhall change his or her place of refi- 4ence, or remove the property infured, the agree- ment, as to fuch perfon, /hall neverthelefs remain in force, provided an indorfement be made, refpecl:ingthefame,bythefecretaryof thefaidcom- pan y ; ;nd ~10 foch a_greement1hall be of any fo,i;;e '' G Of ( 4$ ) or eff'eel:until fuch indorfement !hall have bec11 made by fuch fecretary, who Jliall, for every fuch indorfement, receive and pe pald one !billing, for the ufe of the f,1idfecretary, That, in cafe any difpute 1hall arife, between the faid company and any perfon infured asafore- faid, a qfe, ftating the fame, fha!I be fairly drawn up by the comp,1ny'sfolicitor, and laid be- fore his m"jefty's fojicitor-general for the time be- ing, and alfo, before William Baldwin, Efq, counfellor at law; and, lhould their opinions dif- fer, the opinion., of the attorney-general for the time being lhall be obferved and conformed to by the parties; and the whole expence attending the fame !hall be paid by the party againi1:whom fuch opinions {hall be gi'l(en, That every perfon, making infurance with the faid company, lhall, in cafe of robbery, give im- mediate, or the moll:fpeedy, intelligence thereof, ~nperfon, or by letter if it can be more fpeedily ~onveyc:d~o the fecretary pf the faid company; and, in cafe it fhall be a burglary or a theft in a~y houfe, ihop, room, or warehoufe, or other place, the perfon l'Obbed !hall make oath thereo~ with afullaccount of the time when, and whert, apd h