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Maps, plates, charts, etc., may be filmed at different reduction ratios. Those too large to be entirely included in one exposure are filmed beginning in the upper left hand corner, left to right and top to bottom, as many frames as required. The following diagrams illustrate the method: Les cartes, planches, tab'eaux, etc., peuvent Atre fiimAs A des taux de rAduction diff Arents. Lorsque le document est trop grand pour Atre reprodult en un seul clichA, ii est f limA A partir de Tangle supArieur gauche, de gauche A droite, et de haut en bas, en prenant le nombre d'images nAcessaire. Les diagrammes suivents iilustrant la mAthode. 1 2 3 ,H:,., £;■■ 1 2 3 4 5 6 PROPOSALS INCOSPOBAT^:^ OV f SQCU^Y, TO, BB ESTABLISHED BY CHARTER OF PARLIAMENT, • , .: • : ■'. r •;.! ,i,-ri ' ! !i;.:.iJ- vl . j 'i - . ' .;; • ■"■ %•■:■■ •• , . AND .TO BE ENTITLED • iU.'hl-.'t :: •; \t; 11' }■ Why n Inatitqtion like the, preteut should be esUl^lished in tbis thriving Colony it to fully ex< phined in the Protpeetut, tbM h would be luperfluous to go over the sauie ground again here. Thin Paper is intended for the perusal of those only tcho, it is hoped, may be induced to made acquainted withjbefore he allows his name to be enrolled among the Proprietors ; but it is honed' fliut this, ti^ietber with the Proqtectus of the Institution, «vill give entire satisfaction in every point. In £iigl«nd, notwithstanding there are so many Fire and Life Institutions, every one is known to be *oing well, from the best possible evidence. Their stock is always quoted in the publie papers at considerably above par. Proprietors of such stock are seldom found willing to part with it, and it is a stock always sought after in tne market more eagerly than any other stock!}; Proprietary Companies havie realized most munificent returns, and the Snare Offices have one and all returned large bonuses, besfdet accumulating their, capital at an immense rate and to an enormous amount. (See Prospectus, page /X') An Assuraaee Institution once ertabiished was never known to be abandoned. As a mwle dr investing money it is highly advantageous, inasmuch as the profits are large and the security uoe^eiptipi^able,. it be^ng vested in the Proprietors themselves, who elect from out their own body, their p^rectorM, Tfusteea, kf., and 'to these alone u entrusted the power of granting assurances and paying claims. > How large a business is doing in Assurance must be evident from the following account of tho I paid far tN>Ueies duriM the jear 16dl, by a fttb only of the Offices. Extract from the Stamp Office. Amount continued, Essex and Suffolk, Suffiilk West, Suffitik £Mt, . Hertfprd, 6fe. Newcastle-upon-Tyne, Sahmtinder, Bristol, Yorksbiie, Essex ticonomy, Bath, . Salop, . • Hants, ... Berks, . . .,*' Bristol Union, . « Norwich Equitable, . iSbeffeld, . . Bristol Crown, ', i • BMh $un, •"_•„„ I'anadium, < ' T. -r- New Noiwich Equitable, Sheffield, Nortii and South, Reading, . . . ; PhttniX) ' Noiwirb Union, I F«>tector, Royal Exehmge, County, • Gnardliaii, . Impenit),, Globe,- . Ijr^tiof^ijgJM Atlas, Alliance, . -Manchester, Lirenooli , « . British, • :">'< Westminster, t Hand in Hand, IiftWfflWi . . . , • ■.-'•' Lwd.« and Yorkihlie, Birmiogham, £130,616 14 2 •s I- -78,875 14 2 ij^ii , "^ 72,88<' 18 :>.»! ri iv/, 68,858 18 10 ; ;!:,« It.. 66,801 18 O" . , 63,743 10 . . 44,l*:f2 H 6 37,08V IS 6 ■;,.,.,';„, f . 36,6ii id' 7 .-■"r'- 34!7ifel3 4 30,275 16 d 28,787 11 8 ^ i.«, . . : 96,303 13 7 ' ;.»»<.»• 2»,81» 16 8 I .,,.f.„-.v K u i„.^^7 j3 4 *%"'"'.• ' 15,714 11 Si 15,003 8 4 lilie, . 10,807 16 4 6,719 12 4 JE867,29S 9 7 X [See Not« ftt the foot of next page.] iE667,?98 9 7 8,407 14 10 8,389 13 4 6,491 7 » 6,429 8 7 6,093 18 6 5,937 7 4 5,806 1 2 4,936 3 6 ., 4,236 4 7 " 4,0C7 12 10 3,900 10 7 3,792 8 4 3,604 12 7 3,560 12 8 3,316 t 2 3,022 8 6 3,001 4 8 '^ 2,863 3 8 ' 2,497 14 2,094 6 7 9,000 8 6 761 6 4 il962,4C0 19 6 * (2) f If in England, where it ii notorious that every thing connected with commerce or commercial transactions, is in a very depressed state, and money exceedingly scarce, so mighty a business iti done in Asf urance, and that, too, in spite of the giant incubus that is here shown to rest upon it in the shape of tax, may not every reasonable success be anticipated from the establishment of such an institution a* the present in this rapidly rising Province, where no such duty obtains, where there is no such draw- back, and where every industrious and provident man (a class that would assure) is doing well f The wages of the Mechanic and day Labourer are high — while provisions are low and spirituous liquors cheap--'and if the object of this Institution were but to afford to this class of society an opportu- nity of providing for their widows and orphans, and were not (as it confessedly is) a highly honourable and lucrative commercial transaction, it would have strong claims on the patronage of every one hav- ing at heart the welfare of British America, and its establishment mif^ht sud would be bailed as a great public benefit. ^ • . j. .,.,.,?.> The following Proposals are submitted for consideration : ,' , , 1 — That a Charter shall be applied for early next Session, empoweing such an InstituU«n as has- been described. ^^ « g— That the Capital Stock shall amount to £W(IW©J (to be subscribed for, namely, ^000 share* 'VAMV- dollars each,J which, together with the Premiums of Assurance, the accumulated interest oa premiums, and the septennial additions, rdescribed in Article 8) will constitute an increasing fund,, and will be the security offered to the public by the British America Assurance Institution for the fulfilment of its engagements. , . 3 — That as soon as im^ 2000 shares shall have been taken up, there shall be a meeting called of the proprietors, who shall proceed forthwith to elect from among themselves, a Governor, a Deputy Go- vernor, twelve Directors, and a resident or managing Director, who shall act as Secretary and Mathe- matician to the Institution. Three of the Directors shall go out yearly, and three others shall be elected in their room, at the annual meeting of the Proprietors- [Described in Article 5 ] 4— That the Directors shall meeC every Tuesday at One o'clock, to receive proposals and grant ^ assurance to pay claims, examine into the afikirs of the Society, and to invest premiums paid for assurance. 5 — That there shall be an annual general court of the Proprietors on the day of August, and before them shall be exhibited, by their Beard of Directors, an unrepsrved statement of the afiairs of t^e Institution, and to the Proprietors so assembled it shall be competent to add to, alter, or diminish, the laws, rules, and orders of the Institution. 6 — That every Proprietor be required to make an Assurance, either on his own life or that of an approved Nominee, or by substitutes, in proportita ?o the number of shares staQding in bis name ; and if he transfers his shares, the party taking them shall be still bound by the same obligation to assure, so that the transfer of shares will lead to a perpetual renewal and accumulation of business. . . . . \ 7 — That each Proprietor have as many TOtes at the annual general courts as he has shares. 8-^That the profits shall be divided periodically at intervals of not less than seven years ; one half to be divided among assurers for the whole term of life to be added to the policies, one quarter to be appropriated to the Proprietors, the remaining quarter to be added to the subscription capital stock, on which a dividend is to be paid annually to the Proprietors. } " The ordtr, •diitm tnd report \% Cbineery befors lb« Chsocellor in tb* UMllw of (be New York Life AMUnnca Coo. ptny. — April, 1688," i* printed, Ibe folloirng it en cxiricl from ibe AlBdiTU of tbe l«>eoty.eiKbl •' Tcueiaet of the New Voik Life Aeturiuve Company, in complituce wiib Ibe ChMcellor'e order of lb« 19tb Nitveniber, 1831." Is is introduced here, beciuee it thowe ti once, ind cioii telitfac lorily, bow proepetously tbe biUincte of Astiuance is going on in Ibe United fillies, from ibe prcieot woitb of their respeciiTo Slocke. AmericMi Aieureace Company- Oeein AMUraoce Conptny — ~- Alltntic Asfurince ComptnyM. JcflTerton Aseuruca ComptDy* — Neptune Afturtace CompsDy— —64 per cent advance, -^0 per cent, sdvanes. -25 per cent, advance. - 6 per cent advance. -I8i pr.c«Bt. advaaca. '31 per f ei.t. advance. '24 per cebl. advance. Trader's Aaauranee Company ■ 6 per cent, advance. Mew York LtfsAsBWaDca Company 19 percent, advaacs. Howard Aasuranca Cempiny- JEiiia Aaauranee Comptay- »>" iSa