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Article GENERAL MEETINGS. ← Page 4 of 14 →
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General Meetings.
Mr . SAWTELL moved the warmest thanks of the meeting to the medical officers , the provincial medical referees , agents , and local committees , - Wm . Ratray , Esq ., consulting actuary ; and Messrs . Lawford , the honorary solicitors , for their valuable services . ALFRED SMEE , Esq ., F . R . S ., returned thanks . Mr . RATRAY briefly returned thanks . Mr . ISELIN moved a vote of thanks to the Chairman and Deputy
Chairman . Mr . Coleman seconded the motion . The CHAIRMAN returned thanks , saying it was to him the greatest satisfaction to see that his exertions met with the approbation of the members of the institution . It mi ght not be inopportune to state that they had completed in this year ten policies for 2 , 800 / ., and one deferred annuity . The meeting was then dissolved , and another was held for the
purpose of taking into consideration the alteration of the thirty-second rule , which provided that no person should participate in the profits unless he had been a subscriber for five years . The CHAIRMAN said that at their last meeting , suggestions had been made for the alteration of the thirty-second rule , and it was stated that tiie Board would give the suggestion their best attention . He had now to propose that the words in rule thirty-second , " as have been assured
five years , " be altered to , " as have been assured three years . " Mr . W . S . D . PATEMAN supported the motion . The resolution was put and carried , and the meeting then broke up . GENERAL HAIL STORM INSURANCE SOCIETY . —The fifth annual meeting was held on the 16 th of January at the office , Bethel-street , Norwich ; Samuel Bignold , Esq ., in the chair . The report represented the affairs of the society to be in a very satisfactory state . Attention had been
drawn to the practicability of adopting a lower scale of premiums , but notwithstanding that the price of corn must be the guide , and there was a prospect of low prices , the Directors did not consider that they could adopt a lower rate than the present ( a farthing a bushel ) with safety . About three thousand persons , occupying a quarter of a million of acres of land , had at various times insured , and the numerous claims had been settled without litigation .
NORWICH UNION FIRE INSURANCE OFFICE . —The annual general meeting of proprietors , was held at the office , Surrey-street , Norwich , on the 17 th January . Anthony Hudson , Esq ., President , congratulated tiie proprietors on a most favourable report . The President went into details , showing that while the annual premiums stood at 93 , 000 / ., the actual loss for the year had been under 37 , 000 / ., and the directors had felt justified in appropriating 28 , 000 / . between the proprietors and insurers , in the proportion of two-fifths , to the former , and
three-fifths to the latter . One half of the proprietors' share would be added to the reserved fund , and the other half was applicable to dividend , and this , with the interest on the proprietors' capital , would give 3 / . 15 s . per share , or 121 10 s . per cent . SAMUEL BIGNOLD , the Secretary , said the state of the society ' s affairs would bear the test of the most rigid investigation . First he would allude to the capital account of the proprietors . There was a sum ori ginally raised by 2300 shares , viz ., 66 , 000 / . —and this , in twenty-seven years , had fructified to 151 , 155 / ., and an average interest of about 71 . per cent , had been paid to the proprietors .
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
General Meetings.
Mr . SAWTELL moved the warmest thanks of the meeting to the medical officers , the provincial medical referees , agents , and local committees , - Wm . Ratray , Esq ., consulting actuary ; and Messrs . Lawford , the honorary solicitors , for their valuable services . ALFRED SMEE , Esq ., F . R . S ., returned thanks . Mr . RATRAY briefly returned thanks . Mr . ISELIN moved a vote of thanks to the Chairman and Deputy
Chairman . Mr . Coleman seconded the motion . The CHAIRMAN returned thanks , saying it was to him the greatest satisfaction to see that his exertions met with the approbation of the members of the institution . It mi ght not be inopportune to state that they had completed in this year ten policies for 2 , 800 / ., and one deferred annuity . The meeting was then dissolved , and another was held for the
purpose of taking into consideration the alteration of the thirty-second rule , which provided that no person should participate in the profits unless he had been a subscriber for five years . The CHAIRMAN said that at their last meeting , suggestions had been made for the alteration of the thirty-second rule , and it was stated that tiie Board would give the suggestion their best attention . He had now to propose that the words in rule thirty-second , " as have been assured
five years , " be altered to , " as have been assured three years . " Mr . W . S . D . PATEMAN supported the motion . The resolution was put and carried , and the meeting then broke up . GENERAL HAIL STORM INSURANCE SOCIETY . —The fifth annual meeting was held on the 16 th of January at the office , Bethel-street , Norwich ; Samuel Bignold , Esq ., in the chair . The report represented the affairs of the society to be in a very satisfactory state . Attention had been
drawn to the practicability of adopting a lower scale of premiums , but notwithstanding that the price of corn must be the guide , and there was a prospect of low prices , the Directors did not consider that they could adopt a lower rate than the present ( a farthing a bushel ) with safety . About three thousand persons , occupying a quarter of a million of acres of land , had at various times insured , and the numerous claims had been settled without litigation .
NORWICH UNION FIRE INSURANCE OFFICE . —The annual general meeting of proprietors , was held at the office , Surrey-street , Norwich , on the 17 th January . Anthony Hudson , Esq ., President , congratulated tiie proprietors on a most favourable report . The President went into details , showing that while the annual premiums stood at 93 , 000 / ., the actual loss for the year had been under 37 , 000 / ., and the directors had felt justified in appropriating 28 , 000 / . between the proprietors and insurers , in the proportion of two-fifths , to the former , and
three-fifths to the latter . One half of the proprietors' share would be added to the reserved fund , and the other half was applicable to dividend , and this , with the interest on the proprietors' capital , would give 3 / . 15 s . per share , or 121 10 s . per cent . SAMUEL BIGNOLD , the Secretary , said the state of the society ' s affairs would bear the test of the most rigid investigation . First he would allude to the capital account of the proprietors . There was a sum ori ginally raised by 2300 shares , viz ., 66 , 000 / . —and this , in twenty-seven years , had fructified to 151 , 155 / ., and an average interest of about 71 . per cent , had been paid to the proprietors .