Equitable Assurance Socie...
The Times, 1824-12-03T00:00:00

Yesterday a Quarterly General Court of the Members of this Society was held, and crowded to excess, in conse- guinccl)f a notice of motion by a Mtember, to divide a boiuzs of, 25 per cent. uponri.he policies of assurance it. this 'bffice,in certain described eointingencies. At eleven o'clock the ReoannEa took the chair, and the; Actuary read the minutes of the last Court. 'Tlie REcoaRDa.then inforinertthemeeting,gEhat tlhe Di- rectors had prepared a report, whiah, with the permission of the Court, would be now read for the information of the members.~-* ,; .,-l- - Mr.-B6S}ii,NNrose omti;Joud. crie&s. of " Order;" anid having said thatit was upoll the point of order he meant to speak, silence was-obtainitd. He then explained, that as he intended t-withdraV the notict of motion whicl he had given, and which had, he believed; led to the assemr- lblage of suclh an unexampled. attendance of members, he submitted whetler there was any necessity of hearing the -r,port rcead as a preliminary part of their proceedings, when it w'as knowii that othler genflemeen meant to give no. tices of motion, calculated to bring the whole state of the So. ciety on a future occasion ttilder the consideration of the members;Heunwillingly withdrew thenoticeofmotion which he had himself givdt, because-he wasadvised that the object. of it could not, consistent with the by-laws of the So- ciety, be legally carried into effect. 'There were, they all. Knew, three classes of assurances effected -by the Society: one class insitred in fle year 1816, and alive in the viaar 1820, lhad becomxe entitled to a great. addition upbYi their policies ; a second class, who were insured subsequently, hadt certain contingent additions-; and there was a third class wlho insured after 1820, that might be involved in something likc a breach of faith, if the contemplated ar- rangement were, under existing circurastanceS, pressed upon them. Under the legal operation of- these circumstances, he begged leave to withdraw the motion of ve.ich he had given notice, and to leave the matter in other hands. M Fr. SWEET said, that he had a notice of motion to make wvhich he requested leave shortly to explain. His desire was, that the attention of the Court of Directors shouldl be called to certain specific points, for the purpose of the bettei elucidation of the affairs of the Company, in the event of any new arrangemetit being deemed eligible. He wished, in fact, to arm the Court of Directors with the additional weight of the authority of the members at large, for the purpose of giving niore effect to whatever considera- tion the formner wvere called upon to devote to any specific object. Tbe intention of his motion was simply this-that it should be refcrredI to the Court of Directors to consider and report, whether it would be advisable to cease to efect assuranoes upon the footing of their existing system; and whether it would be advisable to revise and open a new system for the new members who may be acquired, without prejudice to the present members, and having re- gard in their pecuIiiary arrangemnents to the existing price of the public funds. In giving notice of this motion, he shoul(d refrain from pronouncing any opinionr which was likely to lead to premature discussion, all he desired being to have the attention of the lDirectors brought to the spe-. cfic considerationi of a new arrangement. A very long discussion then arose upon the point of form, whletller this notice of motion should be inserted on the minutes, and published and advertised in the circulars sCint to members. Several gentlemen from the country ob- served, that being out of the limits of the twopenny olst, they were left without notice of the special meetings of the Society, in which they were so intercsted, and they desiredI that they should1 be furnished witlh letters, the postage of' which they woulrl themselves pay, apprising Lhem of spe- cial meetings. To this it was replied, that a great burden would be imposed upon the office, if t,000 additional let- ters, which would be' tie number required, were to be constantly sent to country members: it was, however, hinted, that any individuals who desired notice milght have it by leaving their names with the clerks. Mr. SWasET's notice of motion was then entered on the minutes, and an extraordinary general court was ordered to be summnoned for its consideration this day fortnight. It was then proposed that, for the purpose of securing the efficacy of the intended motion, by the requisite con- firmation of the business of one genieral court by another, there should be convencet another extraordinary general court on the 23d of December niext. This led to some discussion, and the notice for convening the court oni the 23d of December was abandonud, on the grountl that they could not, as at present advised, anticipate the decisiovn at the court to be held this day fortnight; and that wheni that was known, and not before, it would be time enough to call for the confirmation of another Court. These matters being dlisposed of, thc REcO(DERt said, that it was for the meeting to consider wlhethier the report prepared by the Directors should be then read. This led to much further diseussion, but the report was ultimately postponed until the next meeting, it being said, that as the report was founlded upon the inteintion of a inc-mber to make a motion, which he had afterwaids withdrawn, it Was pre- mature, as matters stood, to consider of' it. Mr. SLADE gave notice ot'a motion for the next court day, to render valid two policies of insurance assigned over by two individuals who had gone to America, without giving the requisite notice, UpOn the payment by the hold- ers of the additional premium, and satisfaction being given that they took inmediate steps for doing so upon being apprised of the departure of the parties. l'he Court adjourned at half past 12 o'clock. 'QUI TABLE ASSUI?ANCE SOCIETY. -