The Sun.
London, England, 1849-04-07 00:00:00

151iiVa VVittou

RAIL WAY. PASSENGERS' AS-
SURANCE COMPANY.—(THIS DAY.)
A. general meeting of the proprietors of this con•
pang, in accordance wits the Act of Parliament, for
the confirmation or otherwise of their Bill, was held
to-day at twelve o'clock at the London Tavern, Mr.
J. D. Paul in the chair.
Mr. HOLT (of the firm of Messrs. Holt and Aubin,
Bucklersbury) read the following report :
" The directors have much pleasure in reporting to
the general meeting of the shareholders the progress cf
the company in connexion with their proceedings up to
the present time.
" On the 15th of December, 1848, the company was
provisionally registered in conformity with the 7th and
Bth Victoria, cap. 110, with a capital of 1,000,0001.
divided into 20,000 shares of 50/. each.
" The necessity for establishing such a system of
assurance, and the confidence reposed in the peculiar
mode adopted by the directors for its practical applica-
tion has caused upwards of 10,500 shares to be taken,
without recourse being had to any of the usual public
modes of procuring shareholders.
" Under the provisions of the said Act, a deed of set-
tlement has been prepared, and duly executed, and the
Company became incorporated on
,the 221 March, 1849,
on which day. the official certificate of complete registra-
tion was obtained.
" The directors appointed by the said deed of settle-
ment are :—John Dean Paul, Esq., 217, Strand, chair-
man; George Berkeley Harrison, E ,q., 24, Great Tower-
street, deputy chairman; George Clive, Esq., Sandersted,
Croydon- Samuel Whitfield Daukes, Esq., 14, Whitehall-
place; Hawie Morton Farquhar, Esq., 16, St. James's-
street; Alexander Greig, Esq., 10, Lowndes-street,
Eel-
grave-square ; the Hon. Arthur Kinnaird, Pall-mall
East; with power to add five more to their namter.
"In order to obtain the additional legislative powers
requisite for effectually carrying on the business of the
company, the directors introduced a Bill into Parliament
under the charge of the Marquis of Granby, W. P.
Wood, Esq., and Robert Perfect, Esq., which Bill has
passed through the Parliamentary stages of a first and
second reading, and the directors have much pleasure in
stating that in a Committee of the whole House resolu-
tions were unanimously passed exempting this company
from the operation of the stamp duty on their assurances,
and the Bill having been referred to the Select Committee,
has passed the same and since been reported to the House.
The directors have, therefore, every reason to, expect
that, in the usual course of Parliamentary business,
the Bill will be read a third time, pass the House of
Commons, and be introduced into the House of Lords
in the course of the present month.
" In compliance with the regulation of the House of
Lords, and thereby to afford the shareholders an oppor-
tunity of expressing their opinions on the Bill, this
meeting has been convened.
" The directors feel assured that the shareholders
generally will participate in the gratification they
feel at the rapid and successful progress that has
been made in establishing the Company, as well
as:that negotiations of a satisfactory nature, by
which the co-operation of the principal railway
companies will be secured, are in a state of great for-
wardness, and warrant the belief that the business of
this company will be commenced on a large scale, imme-
diately after the Royal assent shall have been given to
the Bill.'
The CHAIRMAN drew attention to the great advan-
tage which this company would confer upon the
public, inasmuch as, for a few pence, persons travel-
ling by first, second, and third-class carriages might
assure the payment of a considerable sum of money
to their family or relatives in the event of accident
or death. Few, he considered, who travelled by rail-
ways, more especially commercial travellers, who
might be said 10 live upon the line, would hesitate to
avail themselves of the paramount advantages offered
by the company, the operations of which, he doubted
not, would yield a handsome remuneration to the
shareholders. Nothing should be left undone on his
part, or the part of the directors, to carry the company
to a successful issue.
The report was unanimously adopted, the draft of
the Bill approved of, and a vote of thanks hiving being
awarded to the Chairman and directors, the meeting
adjourned.