The British Press; or, Morning Literary Advertiser.
London, England, 1826-08-26 00:00:00

ROCK LIFE ASSURANCE COMPANY.

Yesterday a Meeting of the Proprietors of the above Company
was held at the London Coffee-Mouse, for the purpose of confirm-
ing the bonus declared at a Meeting held on 'Wednesday last, in
pursuance of the regulations of their deed of settlement.
A few minutes before twelve o'clock, the following paper was
circulated amongst the Shareholders:—
" To the Chairman and Directors of the Rock Life Assurance
Company.
" Take Notice, that I do hereby protest against the proceedings
of the Meeting of the Proprietors of the Rork Life Assurance
Company, holden at the London Coffee-house, Ltolgate.hill, on
Wednesday last, the 211 instant, convened by public nottee, dated
27th of July lass, and do hereby protest against the bonus de-
clared at the said Meeting, inasmuch as the same was declared im-
properly and illegally, and contrary to the spirit of and declarations
and provisions contained in the deed of settlement of the said Com-
pany, and that I make this protest on tbs following grounds
•"I'lte deed of settlement of the said Company provides, ' that
at the periods therein mentioned, two successive Extraordinary
General Courts, or the Annual General Court, with one Extraor-
dinary General Court, specially called for that purpose, shall have
full power, after a careful investigation of the value of all the ex.
isting policies and other outstanding claims on the Company, to
declare a bonus to such person asaured by the Company, as therein
mentioned. out of such of the funds or property of the Company as
are therein distinguished by the name of the Assurance Fund.'
" Now as every Proprietor has the undoubted right of inspecting
the books and accounts of the Company, and that as no books or
accounts were produced to, or any balance sheet or general state.
meat of the affairs of the Company laid before, the Proprietors at
the said Meeting, but inspection of the same altogether denied to
the Pmprietors (who are the only parties to declare any bonus), a
careful investigation of the value of all the existing policies and
other outstanding claims on the Company,' preparatory to declaring
any bonus, as directed by the sad deed of aettlement. could not be
made. And take further notice, that I do hereby further protest
against any person oa persons deriving any benefit under the resolu-
tion passed at the soil Meeting, until the same shall have been de-
clared legal by his Majesty's Attorney and Solicitor General, and
one of the King's Counsel, practising in one of the Courts of West•
niinster, upon a cam to he laid before each of them, containing all
the facts and matters relative to the said Meeting and Resolutions,
as directed by the last clause in the said deed of settlement, in the
event • of any question, ‘tispute, or difference arising between the
Propretors of the said Company, concerning or relating to the ma-
nagement or concerns of the Company,' and that I do hereby, un-
der and by virtue of the said clause, demand a care upon the
legality of the proceedings of the said Meeting and Resolution
thereby made, and upon the several points contained in this notice,
to be laid before each of them the King's said Attorney and Soli-
citor General, and one of the King's Counsel, practising in one of
the Courts at Westminster.

" %Vitae** my hand, thi, 25th day of August, 1826.
"JOHN ALLNUTT,

" A Proprietor of the said Company."
At twelve o'clock, J. BROODEN, Esq. M.P. took the chair,
and having stated the object of the Meeting.
Mr. 31axwurt., the sub•actuary, read the minutes of the pro-
ceedings of the 3leviog, at which it appeared that a bonus to the
amount of 307,423 i. 16%. 9J. had been declared.
Alf. YOUNG said the Propricors had then a serious dtry to per-
Coml. that of examining the state of the accounts, which they were
imperiously bound to do by the deed of aettlemem. It was not
in their power to declare a bonus until that examination had taken
place, and the Proprietot a had no right to delegate that examination
to others. lie hoped, thereftne, that the Directors were prepared
with 3n abstract of the accounts, in order to be submitted to the

Proptietoni.
Mr. BROGnEw said that the Report which had been read at the
lent Meeting was. in tact, the abstract witch the Honourable :Mem-
ber required. „11e !Scone,: 12 q•Lnu olti•tottoo ohm,, rt., to My alt
the books Wore the Proprietors if it was their wish that such a
proceeding should take'place; but it' they had confidence in the Di.
rectors, they would he comentei, as formerly, with the production of
a balance sheet. for the Report which had been presented might be
so termed. It wait not, however, in the power of the Directors to
permit individual Proprietors to call at the office and inspect the ac-
count's. Many of the Proprietors were largely interested in rival coot-
pan ies,and it could not, titer fore, be so the interest oldie Company to
permit such individual Inspection. (Hear, bear.) If the Proprie-
tors were not satisfied, they might appoint a Committee to examine
the accounts, which was -a step the Directors had not the slightest
objection to.
Mr. Maivatax said that nt the last Meeting Mr. Brogden gated
that no information would he Oven.
Mr. Itarninc st denied that he had saitl any thing of the sort.
Mr. Al AW MAW repented the assertion, and complained that every
thing was kept from the Proprietors. From what he had heard
there hail been a difference amoninit the Director,' as to the man:ter
in which the per ventage was calculated ; and although a refusal of
the accounts bad taken place to the Proprietors, when the Directors
were going to be Proprietors of another office, the books were re.
moved from the office to another place.
Mr. BROGDEN witted the Honourable Member that he was
incorrect.
Mr. Mawstax said that he was not usually in the habit of Mat-
ing things that were incorrect, and he was certain that he was right
in the present instance. The mode of election also was injurious
to the Company, for it was seen that fathers were anxious to being
their sons into the Directory the very moment they were of age.
(Symptoms of disapproltation.)
Mr. Yo uso said that he had no want of confidence in the Di•
rectors; but by the deed of settlement the Proprietors were impe-
riously bound to examine for themselves, and not surrender their
judgment to the Directors.
Mr. ISM/GI/EN again denied that the books had been removed,
or at all events that he war not himself aware that they had been.
The sub-actuary was present, who had them tinder his care, and he
should call upon him to state whether such was the case.
Mr. Maimst.t. said that no books whatever had been taken
from the office except a fiat of proprietors, a copy of which was
never refused to any proprietor.
Mr. Maw 31 AN—A y—except—My statement is then correct.
Mr. Ilitooncs—Surely the giving a list of proprietors does not
sanction the charge you have been making. No books of accounts
were ever taken from the office.
Mr. Bonttanarti: said that within the last twenty-four hours
he knew of one gentleman who bad called at the office, and who
surreptitiously obtained information bout one nt the officers of the
establishment. That officer haul been reprimanded, and in his opinion
nothing could be inure disgraceful than seeking information by
such means. If there was any difference of opinion amongst the
Directors, it was not relative to the calculations, and they had finally
resolved, if they erred, to err on the right side. If the Court appointed
any set of Gentlemen to investiffate, the Directors would be happy
to lay every thing before them ; but they protested against indivi-
duals taking the officers of the Establishment in their carriage, for
the purpose of pumping out of them.
Mr. You NG said that lie had never taken any of the clerks in
his carriage, nor sought to pump them neither.
Mr. MAW MAN also SAW that lie had never even called at the
office for any accounts.
Mr BORRADAILE said that lie did not allude to either of those'
gentlemen. He alluded to Mr. Allnutt, who hail taken the head
clerk, Mr. Hubert, with him in his carriage to Camberwell, and
pumped out of him that there was a difference of opinion amongst
the Directors.
Some further desultory conversation ensued, after which
Mr. l'onsto movei, that the Court should adjourn until the
outstanding claims and policies are so examined as directed by the
deed.
Mr. MAW 3t A N seconded the motion, and in doing so said that
hr knew not what Mr. Allntitt intended to do, never having been in
his carriage (a laugh);
but they had before them a protest against
the pi oceedings,
as illegal. ll' might apply to the Court of King's
Bench, and involve them in difficulties; and the best way therefore
would be, if the inconvenience W,V4 not too great, to consent to the
examination which the deed required.
The motion teas then put and negatived, only four hands being
hebl up in support of it.
The minutes of the former meeting were then confirmed. A vote
of thanks. seconded by Mr. Young, to the Chairman and Directors,
Was - and the Meeting adjourned.

agreril to,

Within the last tiiieeOifour days we have had a good
deal of rain, which has fallen in frequent but gentle
showers, and being accompanied by much heat, it will, we
trust, produce a great improvement both on the glass lands
and the potatoes.—Seotsmon.
The passage between Leith and London is now made by
the steam-boats, in calm weather, in forty-seven hours.
This scarcely exceeds the time occupied in the land journey
of the mail, though the distance by sea is about 100 miles
greater than by land. The distance by sea is 495 miles, and
of course the rate of sailing is about 10), miles per hour, and
amidst variable ti:les and winds. This is two miles an hour
more than the mail's rate of travelling. When the first
steam-boats were creeping along at two miles an hour,
tif-
teen years ago, who would have dreamt of such a velocity
Laing attained ?—Scolainan.

KNIGHT AND LACEY'S BANKRUPTCY.

The creditors to this estate suet yesterday . at the Conmi.sionent'
Court, Basinghall-street, to audit the accounts, as prepared by the
Anlgnees...

On the Balance-sheet being presented,
Mr. AMOY (one of the Assignee.) observed, that there *as now
a balance of elude in hand to the amount of about MM. anti them
were bills coming due to upwards of 6.1 W. There was every pro-
spat of a material improvement being made of the property M a
short tinle from tile system of reenotny that had been adopted.
Mr. Commissioneri LAW Es—ls the business of the house going
on now

il`Cov—Yes, Sir, it is ; and under the superintendence of
the Banknipts themselves.
The enstutssioxEa—Do they receive a salary for their ser-
vices ?

Mr. 31•Coir—Merely a maintenance.
The CoMMlSa!oarkst—la the original establishment of clerks
and assistants still kept Up .e
Mr. 31•Cov—Sii it has been considerably reduced.
Several of the clerks, some of whom have acted under the As-
signees. put in claims for parries remaining due, to the amount of
shout 2001. submitting that they had a right to proves' for servants
Wages.
The Com seism) x tt observed, that all demands of this descrip-
tion, which were antecedent to the bankruptcy, would of course tie
allowed : those which were subsequent must be submitted to the
decision of the creditors; they might be settled between the credi-
tors and the assignees; howeve, at present they could not be re.
ceived, this being merely the lambi day ; and, in point of fact, there
were not sufficient funds in hand to discharge them, if the claims
Were allowed. .

One of the claimants, a Mr. HARDING, said that the want of
funds was entirely owing to the negligence of the Assignees he
was well aware that there were debts on the bankrupt's ledger to
the amount of 2,0061. and upwards, whiili might have been got in
long agn, If they had been applied for; but the fact was, that the
assignees had not applied themselves to the recovery of debts owing
to the estate either in town nr etiontry.
Mr. Ill'fjoy and Mr. Sydney both denied the truth of Vas
assertion ; 'viers had been at nt to almost every person Indebted to
the estate; but in the present state of things, theAssignegs felt that
it would nit be prudent to resort to harsh measures. The book-
selling trade had never before experienced such a depreciation as at
the present period. of which it was enough to mention one single
instance. In order to see what could be done towards a speedy
realization of the stock on hand, they (the Assignees) with the coo-
tent of some of the creditors, had sent about 450/. worth of goods
to be disposed of by public auction, and though the property con-
, suited of what is called fair marketable articles, it produced only
731., and it was determined, of course, to abandon this plan, and
trust to the ordinary mode of sale. There were debts coming due,
however, which were expected very shortly to put into their hands
about 11;,0001. for the benefit of the creditors.

Mheommirsiontr. LAW Es, on retching to the accouni observed

that though they were substantially correct as to sums, yet they
were in such a confused and unbusinessdike shape, that he could not
think of patting his signature to them.
The Assigneeas declared it had been their wish to place them in
as clear a light as possible.
The COMMI93IO,IER—Then your accountant appears not to
have met your wishes, fur I find payments and receipts jumbled
together in the same page, in such confusion that it is utterly lin.
possible any one can tell what they mean—let them be altered.
Altered they were three times over, but not amended, and the
Commissioner said, at last, that they should stand over to a future
day, and the 9th of September was eventually fixed for the next
meeting.

SPORTING INTELLIGENCE.

CANTERBURY RACES.
WEDNESDAY.
His Majesty's Plate of ltiOirs. Heats, four miles.
lord Egremont's b. c. by Warrior, 4 yrs - -
Ur. T. Jones's ch. E Partial, 4 yrs . -
Mr. Colman's Nigel, 4 yr% - - -
Mr. Swath's Jack Dunce, 4 yrs -
Both heats well contested.

I 1
2 2
3 dr
4 3

A Gold Cup, for 100aors., given by the Noblemen and Gentle-
men of the County. Heats, two miles and a distance.
Mr. Honer/owl's ch. e. Truth, by Cation . I 2 1
Lord Clifton's Linguist, 4 yra . . 2 3 2
Mr. F. Martin's Maid of Kent .... . - 3 1 3

The l'ounty Members' Plate of 50 soya.
Mr. Colman's b. f. Honeysuckle, 3 yrs -
51ajor Badcock's br. b. Bagatelle - -
Mr. Palmer's b. f. by Wrangler, 4 yrs - -
Dlr. Hawkins's b. r.. Young Halmos -

1 1
2 2
3 dr
4 3

INTELLIGENCE EXTRA.
YORK SPRING lIIEETING—IM.
Produce Stakes of :AI t.ov. each for 2-yr olds. T.Y.C.
D. of Leeds's f. by Wanton—l.stly of the Vale.
3lr. %Vatts's b. c. by Blacklock—Washerwoman, 31b.
Mr. Crompton's u. c. by Whisker—Marton, 31b.
Mr Petro% b. e by ( earval.(..._jubamt.
Lord Kennedy's b. c. by Wnlaker--.Swiss's dam.
Lord Milton's b. t'. by Tramp—Reposada,
Mr. llolycike's br. 1. by 'Wanton, dam by Shuttle, 31b.
Mr. Daraell's b. c. by Octacian—Sir Anthony's dam.

YORK AUGUST M EETING —1829.
Produce Stakes ef IW NM.. each, fir 3-yr olds.
Mr. T. 0. Powleu's hl. f. by Jack Spigot—Miss 31b.
br. I•. by Jack Spigot, out of b. m. by Ebor,

31b. -
Mr. llouldsworth's b. c. by Pilha—Palatine's dam.
b. c. by Ftlho—Amiable 31b.
Duke of Leeds's c. by -t. Patrick—Modal:ant:ha.
Mr. Lanibton'a 1. by Blacklock—Leapoldine.
Mr. Latobton's e. by Muter Henry—Ban:hie.
Mr. Latubton's ch- f. by Whisker—Fortuna.
Mr. Cromptores b. e. by Whisker—Marion.
31r. Watt's b. c. by Blacklock—Washerwoman, 31b.
Mr. Watt's b. f. by Whisker—Miss Randeld-
Mr. Watt's b. f. by Whisker—Manuella.
Mr. 11ascoigne's br. f. by Smolensko—Louisa.
Mr. harnbton's ch. c. by Tramp—Cora.
Lord Kennuly's b. c. by Whisker—Swiss's dam.
Mr. Ridstialr's br. f. by Tramp—Nova.
Mr. Ridadale's b. f. by Tramp—Bella.
Mr. Darnell's b. e. by Tramp—Woodbine, 31S.
Mr. Harnell's b. c. by Octavian, dam by Sir Paul.
Lord Milton's b. f. by Whisker—Maritornes.
Lord Milton's b. f. by Tramp—Reposada, Mb.
Lord Fitzwilliam's b. f. by Whisker—Clinkerina.
31r. Jaques, having failed to declare, will have to pay the forfeit.

YORK AUGUST .MEETING-10.10.
FIRST DAV.
Produce Stakes of 100 rota. each, for 4 yr. olds. 4 Miles.
Mr. llouldsworth's b. c. by Fillto—Palatine's dent.
Duke of Leeds's e. by St. Patrick—Rodacantha.
Mr. Watt's b. f. by Whisker—Manuella.
Mr. Crompton's b. c. by Whisker—Marion.
Mr. Gonave's be. f. by Sniolensko—Louisri.
hoed Milton's b. f. by NWhisker—Maritornes.
Lord Milton's b. f. by Tramp—Reposada.
Lord Fitzwillitun's b. f. by Catton—Deademona.
Egham Races commence on Tuesday next, under the Steward-
ship of the Duke of Richmond and Karl Mountcharles. Great sport
is expected.