The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1851-05-27 00:00:00

history of the Company will tear ample testimony to the libe-
ral character of its dealings is the settlement of claims.
" Your Committee are aware that some Institutions now
agree to grant unchallengeable Policies at once, but your Com-
mittee consider such an abandonment of all protection against
fraud to be impolitic and improper. For it must be, that an
Institution so committing themselves agree to pay, even when
they have accepted an assurance under false and fraudulent
statements, or they resolve to resist direct fraud practised ;
and if the latter, then the reservation qualifying the apparently
indisputable contract, renders it nearly the same as under
former regulations.
" In all the circumstance it appears to your Committee, that
five years is a sufficient probation to the Company against
fraudulent assurances, and they recommend the Board to adopt
a resolution accordingly.

FOREIGN ECE.
" Your Committee have received a E
suN ggestion from the Ma-
nager on this head, which they feel satisfied, on consideration
of the statements submitted, may be adopted with perfect
safety at a very trifling sacrifice. It is, that all persons whose
Policies have existed for five years, and whose pursuits hold
out no prospect of, their going abroad, having at the same time
no intention of leaving Europe, should have their Policies re-
lieved of the Clause as to forfeiture or payment of extra Pre-
miums, in the event of their goinr, abroad.
eThe statements referred to skewed the very trifling amount
of premiums received from persons so situated, as de-
duced from the Company's experience.)
" By this arrangement the Company will be able to relieve
their Policy-holders from an irksome clause, which, in loan
and other transactions, frequently creates a bar, and some-
times an insuperable difficulty. Your Committee do not think
that the sum abandoned will even amount to the small sum
shewn in the Manager's statements, for they do not propose to
admit assurances to the privilege of this class till a policy has
existed five years, while his calculation has been made for a
shorter period, and they will not admit, to its unreserved be-
nefit, those whose occupation is likely to lead them abroad.
" Your Committee propose that the admission should be by
application to and consent of the Board, end they have pre-
pared a form of questions, to be answered in connexion with
such application.

" If "the Directors adopt this recommendation of the Com
mitten, as well r.s that as to Unchallengeable Policies, the
Company's contracts will become, on admission to this Class,
a simple Promise to pay on the death of the assured, subject
to payment of the annual premium.
It is proposed to call these assurances 'Select Assurances.'
" Your Committee see many benefits which may arise from
these new regulations, but they will not now dwell upon them,
beyond calling attention to the inducement which will thus
subsist to the effecting of assurances in early life, not trusting
to the obtaining a policy in an emergency, as an Unclial-
lengeable' Policy will, of course, be always considered a better
ground of security than one not admitted to that class. Fur-
ther, there will be a strong inducement to parties to keep up
assurances once admitted to the class."

MEDICAL FEES.
The following resolution adopted by the Board was reported
to the Meeting:—
" That the practice of the Company in future shall be to
pay a fee to the Medical attendants of parties referred
to in connexion with proposals for assurance."

Tiff LIVERPSOL STANDARD.

A of third par- 1 at this moment, have been able to have shown an increased
the value of the policies, Particularly In the bands • by the I fund in expectation of more than .4'300,000, or above 20,000
ties. And, while Ido not mean to say that you hay., -, the 1 per annum, on which no value has been put. (Hear, hear.)
mere lapse of five years, the same security in reference v,..
latter as to the former of these privileges, I think we may firm, , That
we are scarcely entitled to keep up such a large reserve
." I That is a very remarkable circumstance, and some may say
say that this is a matter fit tc be judged of by the Directors at 7 1,-,
the time; because, as I understood, it is not intended to give fret] ) as front that source, to a considerable extent, the
• but the Directors, and I think wisely—have judged
an absolute right to parties to join this class, without the Di-
rectors- judging as to whether or not it will be for the benefit, profits of Me, -ry feature connected with the report is the
or consistent with the safety, of the Company, and satisfying other very acifia.!aes,. - which all our calculations of profit
" the assured, which ap-
themselves that the parties are in the position of being admit- tower rate of interesice- offices, the calculations are made
ted into this class. And looking to the gentlemen who have have been made. In soffit .. ` interest being capable of
hitherto directed the counsels of the Company, and looking to on the principle of four per ten,
the prosperous state of our affairs arising out of that direction, being maintained, during the liveg 0, • *,d prospects of the
lam prepared to give that discretion into their hands with pears to me, looking to the condition a,
..
perfect confidence that they will exercise it aright. I think money market, a very =sound basis. Now, r,...e. on the con-
retut n of
con-
that those from whom the Report emanates are entitled not teary, have been contented to assume a probable ,
od we
only to the thanks of the Company, but to the thanks of the three per cent. on the great mass of our transactions, a.
~
public, inasmuch as they have done much to give a new cha- see the benefit of it at the present moment; for notwithstan
meter and value to that species of property which now holds ing the rate of interest is now so low, we have been able to
such a prominent place in the commercial world. (Applause.) make all our investments at a rate considerably higher than
A. GIBBON, Esq., of Johnstone, moved the following, resolu- our calculations. I need hardly observe that when, through
tion :—" That this meeting, having heard with much gratifies- the disturbance of the money market, the rate of interest was
tion the Reports of the Quinquennial Investigation of the very high, as it was for some years, our profits—that is to say,
Company's affairs now laid before them, make offer of their the difference between the rate calculated upon and the sor 5i
most cordial acknowledgments and thanks to the Board of per cent. actually obtained—were correspondingly large. With
Directors for their judicious and unremitting attention to their regard to the state of our investments, I will say nothing,
duties, which have led to the result of placing tins Company in because nothing is required, in supplement of the statement
a position of so much prosperity.” There cannot, lie said, be made on that subject ny Mr. Robertson and Mr. Murray. In
two opinions entertained about this matter, for all of us, lam point of fact, during the last five years, not a farthing of loss
sure, feel most truly that we are under a deep debt of gratitude has been sustained in the investment of the Company. I at-
to the Directors. The Reports which have been submitted to tribute this to the circumstance that we have always made it a
us this day show with what zeal and energy they have attended strict rule to avoid speculative transactions. We have not
to the interests of the Company, if, therefore, I were to at- allowed ourselves to be tempted by a high rate of interest, but
tempt any eulogy of their conduct, lam certain that I would have been contented with the ordinary and legitimate modes of
fall far short of the obligations which all of you, in your own investment. There remains only one further observation for
minds, feel towards them, I will, consequently, rest contented me to make, and it is also of a gratifying kind—that, in all pro-
by simply proposing the motion.
bability, our expenses have pretty nearly reached their maxi-
JOHN ROBERT Ton, ESQ. W.S.—After the very cordial way mum. We have now, I may say, completed all the arrange-
in which this vote of thanks has been received by the Meeting, ments and machinery of Be: establishment, and we can not
I feel that it will not be necessary for me to say almost a single only carry on our present business with comfort and ease, but,
word in support of the motion I have now to lay before the with the same staff of officers, and with a very trifling addition
Meeting, which is simply an additional vote of thanks to the of•expenditure, we could carry on an amount of business of
Members of the London Board. (Applause.) We all know nearly double the extent. When our business increases, there-
that the Members of that Board have been most anxious to co- fore, while our expenses remain stationary, our profits will be
operate with us in every matter connected with the welfare anti materially increased. (Hear, hear.) As a wish has been
extension of the Company; and perhaps the best proof that expressed by some of our English friends that the approval of
could he given of the interest which they evince, is the cir- the Report should be formally put to the Meeting, I now beg
cumstance that the majority of that Boaid are now in this leave to submit a proposition to that effect.
room.
The proposition was received with applause, and the Report
was declared to be carried unanimously.
A. GILLESPIE, Esq., of London,—The pleasing duty now
devolves on me of moving the thanks of the meeting to the
Chairman. I have had the honour of meeting that gentleman
in London, and of seeing the great interest that he took in the
business of the Company, and, from the admirable manner in
which he has presided over us this day, I feel satisfied that you
will all join most cordially with me in tendering him a vote of
thanks. (Applause,)
The CHAIRMAN acknowledged the compliment, after whia
the meeting broke up.
WILL. THOS. THOMPSON, Manager.
PETER EWA RT, Resident Secretary,
London, 82, King William-street,
14th April, 1851.

LIVERPOOL OFFICE,—HARRINGTON CHAMBERS,
No. 26, NORTH JOHN-STREET.
Agent, WILLIAM WHITE

ftac• ets.

LIVERPOOL PRODUCE MARKET, MAY 23

' Sugar.-There was a fair demand for all descriptions in the
early part of the week; but during the last two days both gro-
cers and refiners have shown less disposition to purchase, and
in some instances rather lower prices have been accepted; the
sales comprise 400 hhds. 8.P., (chiefly Barbadoes), 3000 bags
Bengal, 2200 mats of Mauritius, and 1100 bags Madras.-Fo-
reign.-Refiners having been free buyers this week, the busi-
ness has been extensive, and includes 11,300 mats Manilla, (in
public sale,) at 375. to 375. 3d. for clayed, and 31s. Gd. to 335.
for Muscovado, 35 cases, 3GOO bags Pernam at 17s. to 18s. for
old, and I9s. to 19s. 3d. for good new brown, with 150 bls. at
19s. 6d. ; 25 bhds. Porto Rico and 200 brls. Venezuela have
also been sold, at 375. 6d. to 41s. 6d. per cwt.-Molasses con-
tinue in fair request, and the sales amount to 1050 puns.,
chiefly to arrive and from the quay, at 15s. 6d. to 16s. for
Cuba, 16s. 3d. for Barbadoes, 16s. 6d. fur Antigua, and 12. Gd.
per cwt. for old inferior Demerara.-Coffee.-The only sales
reported this week are 200 bags Laguayra at 485., and a few
bags Costa Rica at 50s. per cwt.-Rice.-Carolina has been
in better request this week, and 300 tees. have been disposed of
at rather higher rates, from 18s. to 19 s. 3d.; 4000 bags Bengal
have also changed hands, from Bs. 3d. for broken to 9s. 9d. per
cwt. for good white.- Rum remains without change, and the
sales are limited to 150 puns. of Demerara, 31 to 33 per cent.
0.P., at 2s. for ordinary to 2s. 4d. for good; 2s. 7d. has been
given for a very choice mark.