The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1875-05-08 00:00:00

"IN RE THE FRIENDLY UNION
TRUSTS."

The above suit has been heard in the Vice-Chancellor's
Court, and was a petition for the settlement of a scheme
for the management of the remaining funds of the Friendly
Union, and the circumstances of the case were somewhat
curious.

It appeared that in the year 1811 there were in ex-
isterce two societies consisting of chief and second
officers in the late Honourable East India Com-
pany's Maritime Service, one society constituted
in 1790, and called "The Friendly Union Society,"
and the other society constituted in 1802, and
called "The Sociable Society." In 1811 these
two societies united and formed themselves into
one society, under the name of the Friendly Union,
and they subscribed certain rules for the manage-
ment ot their affairs. The objects of the new
society appeared to be to combine benevolence with
conviviality, as the preamble of their general rues
stated that the members, "actuated with a mutual de-
sire of establishing a bond of union in the service, of
the ties of brotherly love, harmony, and social enjoy-
ment, have, in addition to these, the benevolent object
of establishing a fund wherewith to relieve the dis-
tressed relatives of deceased members, the late Friendly
Union agreeing to bring into the United Society their
funds and each member of the Sociable Society, to
subscribe agreeably to the rules of the new society."
The general rules provided that the new society should
consist of the existing members of the awalgamating
societies, and that captains and chief" or second
mates of the regular or extra ships of the East India
Company might be admitted on payment of five
guineas, and should also pay five guineas after three
successive voyages, and that members at home should
subscribe one guinea annually—half to be appropriated
to the fund, and the other half to the convival meet-
ing, and after a number of rules, from which it appeared
that it was in the contemplation of the members that
some portion of the funds should be applied in the
relief of the families of deceased members by the grant
of annuities or otherwise, without giving any very
intelligible rules for the purpose, and after providing
for the election of a committee, the general rules con-
cluded by enacting "no business to be agitated at or
after dinner." There were also a set of "rules for the
convival meetings," providing that the society should
hold its first meeting "the Tuesday prior to the first
ship's coming aflcat, and continue to meet every fort-
night until the end of March. Dinner to be ordered
for twelve persons, to be on the table at half-past four,
the bill to be called at half-past six; fruit and biscuit
not to exceed 6d. each; the collection to be 7's. 6d.
each, and the deficiency to be taken from the fund.'
It appeared that the funds of the society had increased,
and that considerable sums had from time to time
been expended in objects of benevolence by the grant
of annuities and gratuities to various distressed re-
latives of deceased members. In 1833 the ,charter
under which the East India Company possessed the
exclusive right of trading to India and China expired,
and the maritime trading service of the Company came
to an end, at once limiting the number of the members
of the Society without the probability of increase.
Various alterations were then made in the rules, fur-
ther annuities and gratuities were granted, and, as the
members gradually began to die out, great difficulty-
was experienced in holding meetings, and it was re-
solved that annuities should be purchased for the then
annuitants. Accordingly, in 1870, a sum of £4,000 Con-
sols was sold out and invested in the purchase of annui-
ties, and a further sum of £l,OOO Consols was sold to
return to the then present members the amounts they
had actually subscribed. The then present members
were 17 in number, and after these payments, and
after the purchase of a further annuity, there still
remained a surplus in the hands of the trustees of the
Society amounting to £2,214 Os. 4d.; and doubts being
entertained as to whether this remaining fund should
be distributed among the surviving members of the
Society, or whether it was properly applicable to
charitable purposes only, the trustees paid the money
into Court, and the present petition was presented.
Mr. J. Pearson, Q.C., and Mr. Stock appeared for
the petitioners, the trustees; Mr. Glasse, Q.C., and
Mr. Bury, Mr. Karslake, Q.C., and Mr. E. Beaumont
and Mr. Woodroffe for present members and annui-
tants ; Mr, Hemming for the Attorney-General.
The Vice-Chancellor, after commenting upon the
difficulties attending the case, made an order referring
it to Chambers, to consider in what manner the fund
ought to be applied.