The Sun.
London, England, 1856-09-12 00:00:00

UNITY GENERAL ASSURANCE

ASSOCIATION.

[A portion of the following appeared in our late
edition last night
An extraordinary general meeting of the Unity General
Assurance Associati on was held yesterday afternoon at the
London Tavern. 'fn consequence of the publication in
the daily papers o f several statements referring to the
particular transaction which had led to the resignation
of Mr. Baylis, Coe managing director, the greatest ex-
citement prevail ed. The following is a brief statement
of the case :—A. gentleman married a lady of some pro-
perty ; the husband had an income of his own of 80/, a
year ; the wife bad one of 5001. On the 17th of January
last an insurance on her life, for 2,0001., was effected
under her own name at the Glasgow office of the
Unity General Assurance Association. On the 2d of
April the original policy was changed, and converted to
one standing in the name of the husband. On the 30th
of June the wife died, the policy for the 2,0001.
still remaining in the bands of Mr. Wieland, the local
agent, who telegraphed for Dr. Lloyd to come down to
Glasgow. Dr. Lloyd is a director and consulting phy-
sician to the Unity Insurance Office. Suspicion was
aroused that the lady had been suffering from some
disease which had been concealed. Dr. Lloyd did
go down, and a compromise was effected with the hus-
band, who received 7501. This compromise Mr. Baylis
refused to sanction ; and in consequence he sent
in his resignation. The other circumstances of the case
:are now generally kirawn.
The chair was about to he taken by Sir W. 0. Pell,
but a gentleman in the body of the meeting suggested
an independent person should take the chair.
This course was ultimately adopted, and Dr. Davis
was chosen to preside over the meeting.
The CHAIR LAN, in opening the proceedings, besought
a patient hearing for all who might address them, and
said that pursuing this course they would conduct their
proceedings in such a manner as the importance of the
subject demandisd.
Mr. J'ACKSOk f, one of the board of directors, then rose,
and on the part of the directors, and amidst some im-
patience, proceeded to address the meeting. He coin-
menced by referring to the assurance which had led to
this meeting. (Cries of "Name.") He did not think it
was necessary to mention the name of the party, but if it
was the wish of the meeting he would do so. The
name of the party was Aitken, and he resided in
Glasgow. The speaker was proceeding to enter into

the details of the case, when be was met with cries of
" Statement," "Statement." He was sorry to detain
them with the observations he felt it his duty to make, but
he would at once proceed to state the circumstances con-
nected with the resignation of Mr. Baylis. The first
complaint against Mr. Baylis was gross inattention to
the duties of his office, and to all business connected
with the office. The speaker then referred to a corres-
pondence that had taken place between the
agents of the company in Toronto and the
managing director, which complained of not being
properly supplied with the necessary documents to fur-
ther the interests of the office. The members of the local
board could bear him out in his statements, and such
being the case the board complained to Mr. Baylis,
and told him that the business of the office could not be
successfully carried on if such a system was continued,
and that they thought he had too many schemes in con-
templation. (Cries of " Statement.") He would now
come to the particular circumstances which so greatly
interested them. Mr. Wieland, the agent at Glasgow,
was appointed by Mr. Baylis.
A SHAREHOLDER—Without the consent of the direc-
tors

Mr. JA.cEsox—Of course the directors consented to
the appointment, but they knew nothing of the gentle.
man. (Cries of " More shame for them.") The speaker
then went into the details of the assurance effected by
Mr. Wieland, and also the circumstances connected
with the refusal of Mx. Baylis to assent to the compro
mise. The compronaise having been made, Mr. Baylis
at once declared thfit unless the difference between the
sum originally ass•ared, 2,0001., and the sum of 7501.,
by which the claim had been compromised, namely,
1,2501., was transmitted to Mr. Aitken at Glasgow, he
would resign his seat at the board. This course was not
adopted, and the resignation followed. This circumstance
led to a correspondence which he would read to the meet-
ing. A number of letters were here read, referring to the
transaction, in which Mr. Baylis in one of his letters
stated that the statement that had been construed into
a sanction of the compromise was arrived at upon in-
sufficient grounds.
Mr. BAtLIS begged to correct the speaker in what he
had just read. He protested against the compromise on
the 17th of July, and not on the 24th.
A SHAREHOLDER asked if there had been any other
compromise entered into by the company!
Mr. Jecuorr—No. He had written to Mr. Aitken,
requesting him to be present at this meeting, but he bad
received a letter from him, in which he stated he did not
intend to mix himself up in the quarrels of the board.
The directors had, at their board meeting, yesterday,
received the notice of a claim for 1,2501. from Mr.
Aitken, through his solicitor, but the directors had re-
fused to entertain the claim as it was illegal. The soli-
citor then applied for a policy, which was given to him.
At the same time he was reminded that Mr. Aitken had
given a receipt in full for the whole of the sum assured ;
but Mr. Aitken had served the company with notice of
action, and to show that the board intended to act
fairly in the matter, a cheque for 1,2501. had been
signed at the board yesterday—(hear, hear)—and it was
at the disposal of the meeting. The whole of the cir-
cumstances was surrounded with doubt, and if it could
be legally given to Mr. Aitken, he should feel greatly
pleased ; but they could not give this money until a
claim had been made ; and whether that claim could be
legally made after a receipt in full had been given, re-
mained a question to be decided. It was the duty of
Mr. Baylis, as managing director, if he received a claim
upon which he had a doubt, to have summoned a spe-
cial meeting, and not to have taken upon himself to
close this case so precipitately as he had done. He
felt sure that the board of directors had but one feeling
in the matter, and that was the good and welfare of the

society.
Mr. TAuarTAN, another member of the board of di-
rectors, defended the course that had been pursued. He
considered it one of the most peasant sounds he ever
beard when Mr. Baylis gave in his resignation. Ho
was a dictator, and he had frequently regretted that
some of the board had so long submitted to be brow-
beaten by him. The fact was, Mr. Baylis was continu-
ally pursuing new schemes, which never realised the ex-
pectations raised. The banking department of the Unity
had occupied so much of his attention that he thought
the life department had suffered. The expenses of
fitting up their premises was enormous. He had been
over Wlndsor Palace, but he thought the fittings of
their offices would bear comparison with them. There
was not a panel or partition which was not Spanish
mahogany. (Cries of " Question.") [A SHARIIIIOLDSII,—
Why this was done by your own architect.] He felt
sure that the directors were animated with the best in-
tentions towards everybody connected with the institu-
tion. (Cries of " Baylis.") •
Mr. BAYLIS then rose and proceeded to say that in
the statement that he had to make to them he should
be very brief. (Hear.) He had no great or little fact
to conceal. All that he wished to have clearly settled
was whether the principles of this institution should or
should not be fully carried out. The charge of inatten-
tion to their duties he heard for the first time to-day. He
came there to-day not to enter into a defence of his atten-
tion to business. He felt that the proper course to have
been pursued by the directors, if his attention to their duties
was so very loose, was to have called a special meeting,
and to have had the whole thing fully discussed, and
settled in a proper manner. He believed their banking
business would be as successful as any of the share-
holders could desire. Mr. Baylis then entered
into the manner in which the business of the
different departments was conducted, and with
respect to their life policies be looked upon them as in-
disputable, except in cases of fraud. Now as to the
question which was at present under their attention.
The telegraph message from Glasgow was brought to
him while he was engaged in business, and be gave the
only answer that could be given, namely, to support
a gentleman who had conducted their business properly.
The answer he gave to the message respecting the
compromise was, "Yes, if you think it desirable."
(Cries of " Where is your great principle ?") With
respect to the compromise he had never heard
of the reason why it was commenced. His case
was completely put in the pamphlet he had
published. If the statements contained in that pam-
phlet were true, then ho was right. But it the di-
rectors could prove his statements to be untrue,
then of course he was in the wrong. With respect to
the charge of negligence that had been brought
against him, he felt he had done what was
right, and by that it would be for them to
judge. It was unfair to pass over the great
points in a man's life to find fault with the
small ones. He should like to know where they could
find a man with whom they could not find fault. If
hey continued their confidence in him, he should throw
his whole energies into the conduct of ;this business,
but it it was withdrawn from him he should deplore such
a circumstance, and a time would come when it would
be fowl that ha WM not 110 WrOg as had boon mail