The Sun. — 1839-11-23 (London, England)

GODSON, M.P., said that the Report of the Committee was placed before the meeting for its sanction, under a threat from the Chairman that in case of its rejection a Chancery suit would be the inevitable result. Now what was that Report? Nothing less than a demand upon the meeting to declare the Society insolvent, a Society, the capital of which amounted to 1,500,0001. The fact was, that the difference between the amount of assets put forward by the Office, and that stated by the examiners, arose from their calculations being framed upon two different tables of mortality ; .and so far was he from doubting the solvency of the Office, as to be of opinion that shareholders were now in a better position than ever. If the Report were agreed to its immediate effect would be to dissolve the Society, and he, for one, would never sanction a document which was held out to them under such a threat as that of a Chancery suit in case it were rejected.— (Immense cheers followed the Hon. Gentleman's speech, which is very much condensed in this report.) Mr. R. LANGSTON said th'at the refusal to confirm the Report was justified principally by the assertion that the Society would be thereby declared insolvent. Well, if that were the fact, what harm would be done by this announcement,'seeing that it affected only the policy holders, and could produce no possible effect upon their credit, as they were not like a banking or a commercial firm, whose credit depended upon good or evil report ? The Report was a good and valid document, and as such he was ready to maintain and support it. Mr. ROGERS argued upon the fallacy of the charges brought against Mr. Bignold, the Secretary, and urged that the most serious case brought against that gentle. man was one of every day occurrence in matters of business, when the names of persons were introduced into deeds and securities as trustees, who never took any interest in the matter than as mere nominal agents. Mr. SABBEN, a deputy from the policy holders at Portsea, here asked a number of irrelevant questions, which had no bearing on the matter at issue. Mr. LEE, of Taunton, entirely agreed in the observations which fell from Mr. Godson, and observed, that the removal of the seat of business from Norwich would be act of felo de se. Mr. WELLS, the barrister, observed, that the threat of a suit in Chancery would alone induce him to withhold his support from the Committee. A suit to which 8,000 persons, the policy holders in the Norwich Union, were parties, would be endless. It was impossible to confirm the Report, for it contained the elements of ruin to the Society, and was, in fact, a virtual proposal to commit suicide. He wished, therefore, to frame and propose an amendment which would have the effect of reconciling the reports of the examiners and the Committee, and which would convince the.poliey holders who were about to attend at the general meeting summoned to be held at Norwich on the 26th inst., that it was'not the desire of the London branch of their Society to throw them themselves into Chancery. For this purpose he would propose that the following amendment be adopted in lieu of the original Report read by Mr. Pontifex, by which means the elements of an amicable arrangement would be prepared for the ensuing meeting .to profit by and carry into effect. Mr. Wells then proposed an amendment to the purport that the meeting feel thankful to the London Committee and the examiners for their exertions, but that they were of opinion that an amicable arrangement would be best calculated to avoid endless litigation, which would inevitably lead to the destruction of the Norwich Union Office, and the loss of the assured.  Mr. WOODROFFE (of the Insolvent Debtors' Court) observed, that the Norwich Union Office, like many other establishments, had indiscreet friends amongst its supporters, and he did not hesitate to pronounce Mr. Pontifex a friend of this description, for in the address with which he had preceded the delivery of the Report before the meeting, he had done nothing less than denounce the Society as a humbug, which held out delusive promises and hopes to all persons in order to induce them to insure in it. With respect to the threat of a suit in Chancery, he would be perfectly satisfied if Mr. Pontifex would give a pledge to the meeting that he never would consent to be the attorney who would file such a bill, and let him ask that gentleman whether he would give such a pledge. Mr.