The Sun.
London, England, 1856-09-10 00:00:00

ENGINEERS, MASONIC, AND UNIVERSAL
M UT UA L LLITE ASSURANCE SOCIETY.

Yesterday (Tuesday) an extraordinary general meet-
ing of the members of this society was held at the
sostiety's offices, 345, Staand—Mr. W. F. Dobson,
Chairmen of the Board, in the chair—to confirm the fol-
lowing res•olution, which was passed at the last genera'
meeting :
"That the plan now submitted to the meeting for
raising a than: ca)ital, and enlarging the scope of the
Society's operMi,`,P, be hereby approved and adopted,
and that the direm,rs be authorised to make such alter-
ations in the deed) f settlement, and otherwise to take
such steps as they la, v be advised are necessary, or they
may deem expedieLt, . for carrying such plan into effect,
and that in so claitg ths 9y bo empowered to make such
alterations in the On now adopted as they may deem
expedient ; and b adopt the deed prepared by the
directors in pursuance of this resolution."
Mr. G. H. ROB:RTSON, the secretary, having read the
notice convening be meeting, •

The CHAntmANsaid that the reasons that had induced
the directors to recommend the society being converted
ntc a proprietars company were so fully sct forth in the
paper accompaning the notice of the meeting, that it
way mk-cely necessary for him to occupy their time by
enterios at length into them. Tbel interval of time
that had elapsed since the question was first
brought before 'he members of the society had arisen
not tfrom any alglect on the
,part of the directors,
but solely from desire on their part to comply
with the regulations' and instructions contained in the
Joint Stock Coupan;'s Act.. The proposal new su7r
mitted for the co)firmat:on of the meeting was brought

under the notice of the members before the inten-
tion of the Government was announced in February lasts
to alter the then existing act. The directors had
shown the greatest desire to comply with its
requisitions. They had made regular and faithful returns
under that act, and as they ssad done nothing wrong,
and had nothing to be ashamed of, they had nothing
to fear from a fair and propin statement of their
status and prospects. (Hear, hear.) The vice,
president of jthe Board of Trade, in the early part of
the last session of Parliament, brought in a bill relative
to joint-stock companies, in which he incluiled insurance
companies, but the Legislature thought fit to exclude
them, and the registrar of joint-stock companies had in
consequence declined to receive the returns hitherto
made to him. The directors had been compelled to pre-
pare their deed in such a way as that it might readily re•
ceive his sanction, if the lad'-officers of the Crown
advised him that his functions as to insurance compa-
nies were not at an eud, or in itself it was a per-
fect deed of settlement if his sanction be not required.
In the deed now submitted to the meeting the directors
had continued to the policy-holders all the privileges
and securities they enjoyed under the old deed
of incorporation, and they had carefully introduced
into it all those safeguards for shareholders which the
Legislature had provided for joint-stock companies
generally. With regard to the nature of the proposi-
tion, he considered the small number of inembers pre-
sent indicated their satisfaction and acquiescence in it,
and indeed the Board of Directors had received a num-
ber of letters in which the members approved of it, and
not one objection from any quarter. (hear.) This was not
a proposition for the creation of share capital with
which to pay their debts, or for the discharge of sol
extraordinary preliminary expenses, those having al.readl
been paid ; nor was it required for the purpose of crest-
ing a company with doubtful or probable success. This
society had new been many years in exigence, and weft
firmly established. It had always been ready to discharge,
and had faithfully discharged every liability and engage'
ment into which it had entered. With the increased capit..l
proposed to be raised by the terms of the new deed it As'
considered they might be able to extend the operations
of the society, and by an increased lucrative business row
tually benefit all. That was the history of this transee*
tion, and he called on the solicitor of the society to react
the clauses of the new deed, which had been pre'
pared so as to cancel the old deed. It contained ell
that was useful and necessary of the old deed, but at
the same time repealed all the clauses in it which were
inconsistent with the new proposition. After the deed
had been read he shoild be happy to give to the atel3l.
bers any information they might require in reference
to it.
Mr. PRICHARD, Solicitor to the society, then read
the various clauses of the deed, pointing out the new
clauses from the re-enacted clauses of the old deeds
and said that by it the rights of the policyholders
were protected the same as in the old deed.
The CHAIRMAN, before submitting the necessary resa•
lotions to the meeting, sail that the directors would
well consider the nature of the applications made to
them in extending their operations, and not rashly un-
dertake business which they could not successfully con-
duct, and to prevent risk in the early stages of their
new business they would adopt the system of counter
assurances, and the business of each department Wong
be kept separate.
In reply to Mr. HALL, who thought the present a bid
time to alter their position as proposed,
The CHAIRMAN said by the new deed the position
of existing policy-holders would not be altered.
After some further remark', the necessary and formal
resolutions for carrying out the objects of the meeting
were agreed to, and a vote of thanks having been unael"
mously accorded to the chairman, the meeting sePv
rated.

FRIGHTFUL COLLISION, AND RUNFV
DOWN OF A STEAMER IN THE RIVLR•

Shortly after seven o'clock yesterday morning a "7„
frightful steam-boat collision took place in the river 'l,"
Lower Hopo Reach, two or three miles below Gravesend,
by the running down of the Sydney Hall, screw-steamer'
lately employed in the transport service. She was an iron'
built ship of between 500 and 600 tons burthen, the Pr".
d
party of the Patent Fuel Company, and was cowman—A°
.
by Capt. Michel. Sbe was bound to Cronstadt, in balla"
and it appears that early on Monday evening she left 0
°1
Pool, and proceeded down the river, but in consequence
foggy weather she was brought up at Gravesend for CO
night. About an hour or so after daybreak yesterday
morning, the steamer was again got under weigh. frha
tide was two-thirds flocd. The usual course for mail,
bound steamers was pursued, but in consequence of
misty state of the morning her rate was much slackened'
which was further diminished by the tide, which was run;
ning against her. Captain Michel was on the lookli
platform, directing the navigation of his vessel, and igh°,•
near the turn of the river called East Hope Point, a Isrri,
vessel was observed coming towards the Sydney 11'.,,h
Seeing the course of the approaching steamer, which
proved to be the Dodo, Capt. Hanson, from Cork, belong
to the Cork Steam Navigation Company, and that she w,,:a
proceeding at but little reduced speed, Capt. Michel
her to put the helm a-starbcard, so as to avoid coming
into collision with them. From some unexplained cldo
cunasta.nce or other, however, those in charge of the DO ,
ported, the result of which was that she ran into the ots •
board quarter of the Sydney Hall, nearly abreast of dil.•
foremast, with tremendous force, cutting her down 113°A
than two feet below her water lino. As may be imegi?,ho
great consternation prevailed amongst the two crews I" '3
moment. Capt. Michel got hold of the Dodo's bowsPz4
believing at the instant that his own vessel was g°l`,;(
down, and was so taken off. One of the compartments
..:0
the Sydney Hall rapidly filled, and her foundering "-
momentarily expected. The mate, who had been thus un;
expectedly left chief in charo, with great presence of WWI'
ordered the engines to be reversed. The vessel Yel•
astern, and providentially just succeeded in reaching t'
bank of the north or Essex shore as she was going dov1;
The Dodo remained some time about the spot with a vi°,,
of rendering assistance, and having landed Capt. Mich%
she continued her voyage up the river to the Pool.
has sustained some damage in her stern. The Sydney 11,
lies in the same spot, and at high tide her hull is covered
with water. She is insured. None of the crew are missing'

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