The Sun.
London, England, 1845-11-27 00:00:00

THE SURETY SOCIE-T Y.
Temporary Offices, 1, Wardrobe-place Doctors'-commons.
(Registered provisionally, pursuant to 7th and Bth Vic., c. 110.)
Capital 200,0001., in 20,000 Shares of 101. each.
Call it. per Share, to be made on complete Registration.
TRUSTEES.
Wynn Ellis, Esq., M.P.
John Masterinan, Esq., M.P.
Peter Rolt, Esq.
DIRECTORS.
Thomas Sidney, Esq-, Alderman, Chairman.
George Coode, Esq., Deputy-Chairman.
George Brockelbanke, Esq., Greenwich
Robert Charles, Esq., Endsleigh-street, Tavistock-square
Richard Groucock, Esq., Bow Church-yard
Richard W. Jennings, Esq., Doctors' Commons
Joseph Todd, Esq., Mousley-park, Surrey
James Train, Esq., Mordin-hill, Blackheath
Matthew Wicking, Esq., Milton-street, Dorset-square
• Robert Wilcoxon, Esq.,•Monument-yard.
AUDITORS. - •
J. R. Cuffiey, Esq. ; James Walsh, Egg-
BANlEits—Messrs. Masferman, Peters,. Mildred, Masferman,

• and Co.
Errattnitia COUNSEL.
Thomas Platt,
Esq.;" Edward S. Creasy, Esq.
SoLicrroas—Messrs. Newbon and Evans.
In ahnost every office of trust in mercantile or professional avoca-
tions, security is required. The observation applies universally to
the several situations under Government, connected with the collec-
tion of the revenue. In addition, the numerous existing railway,
and other incorporated public companies, are imperatively required
by their acts of incorporation • to take security from their officers ;
and when it is considered what an increase there has been, and is
certain still to be In such companies, the amount of security con-
tinually, and from time to time required to be found by private par-
ties, by some means or other, to qualify them to hold situations of
trust, must be immense.

The insecurity of, and objection to, private suretyship arises from
the difficulty which must always exist of ascertaining with correct-
ness the real solvency of the proposed sureties at the time ; and
even when this fact can be satisfactorily shown then remains the
danger that the bondsmen may not continue-solvent. In how many
cases does It not happen that, on defalcation occurring, and on in-
quiries being made as to the sureties, they are found either to have
themselves become insolvent, or to have died in embarrassed circum-
stances, leaving but little, if any, chance to the principal of reaping
any benefit from his supposed • security ?
On the other hand, the evil is not less to the applicant for the
situation or the office. Many a man, otherwise well qualified, has
been obliged to forego an advantageous appointment, by not being
able to find security to the large amount required by the regulations
of the particular service or department ; and the very application to
friends is, to a well-constituted mind, painful, seeing that the appli-
cant thereby not only lays himself under personal obligations, but
subjects his friends to serious pecuniary liability, without any cor-
responding individual 'vantage.
The object of the Surety Society is to* 'obviate these evils by sub-
stituting the security of a responsible incorporated public company.
In consideration of the payment of a small annual • premium, regu-
lated by circumstances, the Society. will become responsible for the
fidelity of persons employed in OffigeS of. trust, to any extent which
may be agreed upon and stated in the policy, and will thus open to
parties not being perhaps in a situation to obtain private sureties to a
sufficient amount, but otherwise eligible, the Opportunity of accepting
valuable appointments of trust.' " • • • • •
The advantages to principals are the responsibility of a public
company, with an ample subscribed capital, .obviating the necessity
of personal inquiry into the individual responsibility of proposed sure-
ties, andrelieving principals from the possibility of loss by reason of
the:insolvency of the private Surety. "
. . .

The Directors will exercise all needful precautions in entering into
contracts. The ordinary minimum rate of premium will be fixed ;
but' special cases will be made the subject of a distinct contract, at an
agreed rate. At the end of three years the experience of the Society
will be examined, and, if found practicable, the premiums on all
existing policies of three years' standing will be reduced; so that
those assurers who have not' exposed the Society to loss may reap
the benefit of their established' character.

_
Parties, or their representatives, under personal liability, by bond or
otherwise, for the fidelity of relatives or fiends, may be indemnified.
or entirely relieved from . responsibility, by contract with this
Satiety.
The capital requisite to eligible *the SOcietk to avail itself of the
advantages of incorporation tinder the recent Joint-Stock Companies'
Act having been subscribed far, the Directors are proceeding with all
dispatch to complete the Registration of the Company, and will be
ready to receive proposals on the first of. January next.
The capital is required as satisfaction to the public, but, as in Life
Assurance, the assurers' premiums rapidly form a capital ; the
Directors, therefore, will at present 'enlfrequire the first call of 1/.
per Share, reserving, however; the • right of making further calls,
should they hereafter deem it desirable. Interest, at the rate of five
pounds per cent. will be paid on the capital; the profits will be as-
certained by the experience of the office at the expiration of every
three years.
The remaining shares will be allotted at the discretion of the
Directors, to parties in mercantile pursuits, or the public service, and
who are personally known to the Trustees or Directors, or whose ap-
plications are certified by a banker or broker. All applications to be
addressed to the Directors through the Solicitors, Messrs Newbon
and Evans, at the temporary Offices of the Society, 1, Wardrobe-
Awe, Doctors'-commons, London.'
ISAAC lIELLIER, Secretary pro tern.
F 01731 OE APPLICATION FOR MARES.
•
To the Directors of " The Surety Society."
Gentlemen,—l request you will allot me • . shares of 201. each
in this Society, and I hereby.agree.te accept such shares, or any less
number, which may be allotted to me,. and to pay the call of 11. per
share thereon on allotment, and also to execute the Deed of Settle-
nient of the Society when tendered to me for that purpose, and to
conform, in all respects, thereto.
Dated this day of • • 1841. •

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