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 QUEBEC 
 
 ^im ASSURANCE 
 COMPANY. 
 
 EXTRACTS 
 
 P^m the Minutes of the Oo., • 
 'appointed .dMarcllSr"" 
 
 fROPsiEToas. 
 
 Quebec, 20tA ^„ ■< , 
 
 ' ™ ^/"-f/, 1816. 
 
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 RR 
 
 
 
 QUEBEC: 
 
 ™ntedbv.ohnnex.so^ 
 
 MOUNTAIN STREET, ' 
 
 1816. 
 
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 • • • • • . . 
 
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EXTRACTS 
 
 VAOM THX 
 
 COMMITTEE BOOK, &c. 
 
 QUEBEC, 21st MARCH, 13l6. 
 
 
 
 -i. J 
 
 AT a Meeting of the Committee held 
 by adjournment from 14th Instant, 
 at the House of John Macnider, Esq. 
 
 PRESENT : 
 
 John Macnider, Esq. in the Ghaii^ 
 
 Messrs. John Neilson, 
 
 Wm. Henderson, Junior 
 Jacques Le Blond, 
 Joseph Plante, 
 Charles Hunter, 
 Fran9ois Romain, 
 John Thompson. 
 
 A series of Motions were submitted to 
 the Committee by Mr. Henderson, con- 
 taining proposals as the basis of the Com- 
 pany's future Kules and Regulations, and 
 divided into ten distinct Resolutions — 
 when it was A S 
 
 
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 f !• 
 
4 
 
 Resolved, That the Proposals laid bc- 
 lore the Committee by Mr. Henderson 
 should be transUited into French; and 
 that a Meetuig of the Committee should 
 take place on the ^J8tli instant, to take the 
 same mto further consideration ; A ndtliat 
 this Committee, in virtue of the power vest- 
 ed in it, do nominate six new Members, to 
 aid them m preparing and laying before 
 the General Meeting of Piopiietors a 
 J^ian for the future operations of the Com- 
 pany. 
 
 The Honble. Jamea Irvine, F. Blan. 
 chet, G. Vanfelson, J. Pknt^, F. Du- 
 rette, and A. Berthelot, Esquires, were 
 appointed. 
 
 Vnion Botelt 5th Aprif, 1816. 
 
 PRESENT : 
 
 John Macnider, Esquire in the Chair. 
 Honourable James Irvine, 
 Messrs. Frs. Komain, 
 
 J. Thompson, 
 
 J. Plante; 
 
 J. Le Blond, 
 
 G. Vanfelson, 
 
 Charles Hunter, 
 
 C. Smith, 
 
 Frs. Durette, 
 
 J. White, 
 
 W. Henderson, Junr. 
 
Resolved, That the ten Motions sub- 
 mitted to the Committee by Mr. Hender- 
 son, be engrossed in French and English, 
 and tliat each Member of the Committee 
 shall be furnished with a Copy, in order 
 to take the same into consideration on 
 Monday the 15th Instant. 
 
 ^^%%^*%%% 
 
 Union Hotel, Monday, I5th April, 1816. 
 
 PRESENT : 
 
 John Macnider, Esquire, in the Chair. 
 
 Messrs. John Thompson, 
 
 W. Henderson, Junior, 
 J. Neil son, 
 .Fohn White, 
 ^Charles Hunter, 
 Charles Smith, 
 Frs. Durette, 
 J. Le Blond, 
 Frs. Romain, and 
 Doctor Blanchet. 
 
 After the Proceedings of the Commit- 
 tee of 5th Instant had been read, Mr. 
 Henderson proposed the ten following 
 Resolutions; which, after having been 
 read in English and French, the question 
 was put on each motion separately, when 
 
 A 3 
 
 \\ 
 
 ii 
 
 r 
 
 ■^.-■j^ 
 
the whole were unanimously agreed to 
 with amendments In the 2d and 10th Re- 
 solves. 
 
 Resolved unanimously, 1st — lliat the 
 Committee of Ten Members appointed 
 by the General Meeting of 2d of March 
 last, having permission then granted to 
 add six other Members to their Commit- 
 tee, are by the said General Meeting ful- 
 ly empowered to make and recommend 
 to the next General Meeting of the Pro- 
 prietors of the Quebec Fire Assurance 
 Company such Rules and Regulations, and 
 enter into such arrangements as they may 
 think expedient and conducive in bring, 
 ing the Company into active operation. 
 
 Resolved unanimously, 2d--That when 
 the Sum of ^100,000* is subscribed, 
 measures sliall be taken to commence 
 granting insurances against fire (iw t/ie 
 manner more particular!^/ described in the 
 in the 'Jth Resolution on this Minutei) un- 
 til the Company obtain a charter of incor- 
 poration. 
 
 Resolved unanimously, Sd— That in 
 pursuance of the 2d Motion a fund shall 
 be ibrnied at the immediate disposal of 
 the Officers of the Company, for the time " 
 being. 
 
 And that to form the said fund, Fifteen 
 
ir. 
 
 ptir cent on the amount of Subscriptions^ 
 shall 1>€ immediately demanded, and rais- 
 ed from the Proprietors in manner follow- 
 ing, viz. 
 
 Two and a half per cent in ca>ik iimnedu 
 atelyy which shall be deposited in the 
 hands of John Macnider, Ksquirc, until 
 a future Treasurer shall be regularly ap- 
 pointed. 
 
 And Twelve and a half per cent by 
 Promissory Notes, approvedly endorsed, 
 payable on demand to the President and 
 Directors of the Quebec Fire Assurance 
 Company — agreeable to the form here- 
 with marked C. X 
 
 Said deposit in Cash and Bills shall be 
 returned to the Proprietors as soon as it 
 appears that the profits saved by the 
 Company amounts to that sum; and what- 
 ever further profits may arise shall be de- 
 clared and divided seiai-annually on the 
 1st of May, and on the 1st November, 
 provided nevertheless, that the said a- 
 mount of fifteen § jjer cent on the capital 
 stock of the Company shall always re» 
 main deposited in the hands of the Com- 
 pany's officers, for the time being. 
 
 And any Subscriber or Proprietor refu- 
 sing, neglecting or delaying to make the 
 aforesaid deposit, and pay said notes when 
 
9 
 
 regularly demanded, or to pay such further 
 contribution or contributions, (to the full 
 amount of, or in proportion to the share or 
 shares he holds in this Company) as at 
 any time or times hereafter the necessi- 
 ties or misfortunes of the Company may 
 demand, shall, independent of making 
 good his or her full proportion of all los- 
 ses till that period sustained by the Com- 
 pany, further forfeit to the common stock 
 all and every his or her share or shares in 
 the Company, together with all former de- 
 posits he may have made, and all and eve- 
 ery other claim or claims he or she may 
 have on it. 
 
 Resolved unanimously, 4th — That to 
 superintend the usual affairs of the Com- 
 pany j^^eew Diirctors shall be chosen an- 
 nually on the first Monday in May as is 
 more particularly described in the fifth 
 and sixth Resolves on this Minute — and 
 as soon as the sum named in the 2d Re- 
 solve is subscribed into the capital stock 
 of this Company, the following notice 
 shall be published twice in the Quebec 
 Gazette in both languages, viz : 
 
 " Quebec Fire Assurance Company** 
 
 *' On Monday next 
 
 " ensuing, at One o'clock in the after- 
 •* noon precisely, ihe appointment oi^Jifi 
 j* teen Directors for the ensuing year will 
 M take place by ballot 
 
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 9 
 
 ** Prop..otors of Stock in this Compa- 
 ny are reciuested to Ibrward to the Se- 
 cretary's Olfice, No. 
 Street, sealed notes directed to 
 
 Esquire, Chairman of the Covu 
 mittee Quebec Fire Assurance Comp i^ 
 ny, II containing the name or names 
 of the person or persons tliey choose 
 to vote lor as Directors, and agreeable 
 to the regulations of the Company. — 
 At the hour above named said notes 
 will be opened in the presence of the 
 Committee, ami the names oi' the new 
 Directors declared. 
 
 " Quebec, 18 *• 
 
 Resolved unanimously, 5th— That no 
 person shall be qualified to hold the situ- 
 ation of Director who is not a Proprietor 
 of ten shares in the capital Stock of this 
 Company and a resident in Quebec. 
 
 The fifteen persons wlio agreeable ia 
 the 4tli Motion are chosen Directors, shall 
 out of then- own body choase a President, 
 Vice President and a Treasuier. 
 
 The President and Directors for the 
 time being, and this Committee, until 
 such President and Directors are elected, 
 shall be answerable to the Proprietors in 
 general and their successors in office in 
 particular, lor all mc >ies received by them 
 
 I J 
 
 I 
 
 c* 
 
10 
 
 or either of them collectively or individu- 
 ally on account of the Company, either as 
 J)eposits, Premiums oi otherwise. They 
 the Directors shall meet at the least once 
 every month, viz ; on the first Friday, for 
 the dispatch of business, at the Secreta- 
 ry's ofhce J the President, or in his ab- 
 sence the Vice President or Treasurer 
 and eight other Directors shall form a 
 quorum. 
 
 All public documents, advertisements, 
 &c. &c. shall emanate in the name and 
 under the firm and style of the President 
 and Directors of Quebec Fire Assurance 
 Company, 
 
 A new election of Directors shall an- 
 nually take place on the first Monday of 
 May, at one in the afternoon, after* due 
 notice given for the two w^eeks immedi- 
 ately prec<^ding, in the form and way pre- 
 scribed in the 4th Resolve ; and any per- 
 son so chosen as a Director, refusing to 
 act, shall forfeit to the common Stock 
 the sum of Twenty Jive Pounds, 
 
 Resolved unanimously, 6th — That all 
 motions, proposals, resolves or other mat- 
 ters submitted to the sense of general 
 meetings as well as the annual election of 
 Directors as before mentioned, shall be 
 decided by ballot, each share of 5^100 
 
"> 
 
 11 
 
 held in this Company shall confer one 
 vote ; holders of more than one share may 
 give their votes collectively or separately 
 as they may think proper. Absentees from 
 general meetings may send their ballots 
 to the Secretary. 
 
 All motions and resolutions, and in ge- 
 neral all matters of what kind soever ne- 
 cessary to be taken into consideration at 
 general meetings of Proprietors, can only 
 be submitted to them by the President and 
 Directors for the time being, and by no 
 other person or persons whatever. Should 
 any Proprietor, not a Director, wish 
 to offer his opinion on any subject to the 
 general meeting— such opinion shall be 
 committed to writing, signed by the per- 
 son so proposing, and sent to the Secreta- 
 ry's Office ; and it shall be the duty of 
 the President and Directors, for the time 
 being, to lay the same before the first 
 general meeting of Proprietors they may 
 call — And they the President and Direct- 
 ors shall call a general meeting of Propri- 
 etors, by public advertisement in the 
 Quebec Gazette, inserted in both lan- 
 guages, at any time, and as often as may 
 be required by any number of Proprietors 
 holding one hundred and fifty or more 
 shares in the capital stock of the Com- 
 pany. 
 
 ,i 
 
I! 
 
 12 
 
 Resolved unanimously, 7th — That pur- 
 suant to the i^nd Resolve on this Minute, 
 this Committee do recommend to the 
 next general meeting of Proprietors to 
 empower the President and Directors (for 
 the time being) with the right of transfer 
 (to their successors in office) by a legal 
 notarial Instrument or Deed ^ to grant in 
 the names of the Proprietors Assurances 
 against Fire, whereby each Proprietor 
 shall be bound one to the other and the 
 whole to the person or persons to be as- 
 sured, in virtue of said deed for all loss or 
 damage assured against according to the 
 tenor of their policies, said instrument or 
 deed to empower the President, Vice- 
 President or Treasurer and any other two 
 Directors to sign all policies of assurance 
 issued by the company. 
 
 The President and Directors for the 
 time being shall regulate the rate of their 
 premiums by the tariff laid down by this 
 Committee, they shall not grant any Insu- 
 rances against Pire in any one risk for any 
 sum exceeding Sia; Thousand Pounds cur- 
 rency ; and the form of the Policies of As- 
 surance granted by this company shall be 
 conformable to that marked A, and here- 
 with submitted. 
 
 Resolved unanimously, 8th — That to 
 perform the active duties hereafter devol- 
 
 \ 
 
 
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3 
 
 -Thatpur- 
 is Minute, 
 id to the 
 )rietors to 
 ectors (for 
 of transfer 
 by a legal 
 to grant in 
 issurances 
 Proprietor 
 r and the 
 to be as- 
 all loss or 
 ing to the 
 rument or 
 snt, Vice- 
 other two 
 assurance 
 
 rs for the 
 te of their 
 m by thiB 
 any Insu- 
 jk for any 
 mnds CUT- 
 )iesof As- 
 y^ shall be 
 and here- 
 
 -That to 
 er devol- 
 
 vmff on the President and Directors, as 
 well as those immediately incumbent on 
 this Committee, they shall be aided by a 
 Secretary to be by them chosen froni a- 
 mong the Proprietors resident in Quebec, 
 and holding ten shares in the capital stock 
 ot the Company— Said Secretary sliall re- 
 tain his situation until displaced from in- 
 caijacity or misconduct ; with permission 
 m the event of sickness or unavoidable 
 temporary absence to appoint a substitute 
 with the approbation of the President and 
 Directors. 
 
 The duty to be performed by the Sec- 
 retary shall be to attend all meetings of 
 Proprietors or Directors and register their 
 proccedings—to grant all Policies of As- 
 surance, renewal receipts or certificates 
 either in the French or English languao'es 
 and to get the same dulv sealed and s?ffn- 
 edby the Directors: To keep all regis- 
 ters, Ledgers or other Books required by 
 the Directors and generally to transact 
 all the business of the Company of what 
 nature soever, under the immediate con- 
 troul of tile President and Directors for 
 the time being. 
 
 The annual Salary of said Secretary 
 shall be 1 ICO Hundred Pounds currency 
 — -ind to enable him to furnish himself 
 
 B 
 
 S li- 
 
14^ 
 
 with such clerk or clerks as he may re- 
 quire, an office, fire and candles, together 
 with all stationary, &c. &cw excepting on- 
 ly the books and blank forms of the Com- 
 pany ; he shall further be allowed to de- 
 mand and receive from persons insuring 
 in this office, the following sums, viz. — 
 
 For sums under aflOOO For the Policy 3/9, renewal 
 
 receipts U 
 For sums of ^1 000 & under =C1 503 For do. 5t do. 
 
 do. 1^3 
 For every ^£100 exceeding =£1500 For do. 4</ do. 
 
 do. Id 
 
 And from Proprietors, 1*3 for each 
 share of ^100, on all stock transferred to 
 be paid by the purchaser or acquirer. 
 
 Resolved unanimously, 9th — No per- 
 son shall be considered as a Proprietor of 
 any stock in this Company until he shall 
 have procured his certificate of admission, 
 according to the form herewith submit- 
 ted marked B** — nor claim any return of 
 deposit, or share of dividends, nor vote at 
 any elv°ction, or in an any general meet- 
 ing of the Proprietors of this company, 
 until he or she shall produce said certifi- 
 cate. 
 
 And no person can demand such certi- 
 cate, until they shall have paid all their 
 full proportion of deposits, or other gene- 
 ral contributions required, and signed all 
 the rules and regulations of the Company, 
 
15 
 
 Resolved unanimously, 10th and lastly 
 ^— That in order to give force, effect and 
 duration to this institution, the various 
 resolutions of this Committee, or as ma- 
 ny of them as shall be approved by the 
 next general meeting of Proprietors, shall 
 be collected into one body, and inserted 
 into the Book of the Bye Laws of the So- 
 ciety ; when they shall be considered in 
 all time to come as the fundamental Laws, 
 Ilules and Regulations of the Quebec Fire 
 Assurance Com'pany^ and shall not in any 
 manner of way whatever be alteredf, 
 amended or augmented, excepting on the 
 proposition of the President and Directors 
 for the time being, to a general meeting 
 of Proprietors regularly called — when 
 such proposed alterations, amendments 
 or augmentations shall be approved of and 
 enacted by at least four fifths of the share- 
 holders, voting by ballot and according 
 to shares, agreeable to the sixth Resolve 
 on this minute. 
 
 On the motion of the mover of the pre- 
 ceding ten Resolutions, it was 
 
 Resolved, That Joseph Plante, George 
 Vanfebon and John Neilson, Esquires, 
 are appointed to make a draught of the 
 Notarial Instrument mentioned in the 7th 
 Eesolve of the preceding ten. 
 
 B 2 
 
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 f^^l^l^HfiSl^i^SiiMi?.' 
 
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 I 
 
 16 
 
 And on the motion of Mr. Hunter, 
 
 Resolved, That 200 Copies each, in 
 French and English, of the Resolutions 
 agreed to at this Meeting, shall be Print- 
 ed and distributed among the Proprietors. 
 
 ^ I i 
 
 IINIS. 
 
NOTES. 
 
 td Retolve — * This is part of the -^.150,000 fixed as the Capital 
 Stock of the Company ; it follows of rourse, that the Sub- 
 scription will remain open until the remaining ^.50,000 is 
 taken up. 
 f Tl>e words printed in italics and between parenthesis, were 
 substituted for, " on the system of a mutual As'^iranct 
 Compant/, which system sfiall be continued." 
 
 5d Resolve — f It lias been thought unnecessary to print this form, 
 •nor that marked A, referred to in the 7th Resolve : both are 
 to be seen by applying to the Chfiirman of the Committee. 
 Ko better security than thece endors^-a Notes could be devised, 
 without an unnecessary detViaiid of more cash from tlie pro- 
 prietors; indeed, if we reflect on the average anhual casualties 
 by 'ire in this city, the sum deposited in cash ajipears fully 
 adequate, exclusive of the bills, and of the premiums that 
 must be received before any loss can occur; and, by premi- 
 ums, that capital, in hard cash, must daily advance. Every 
 one is aware that premiums must naturally exceed the losses: 
 in a very few years, it is probable, the Coippany would be 
 enabled to return these Notes, and thereby divest tlie Propria* 
 tors of all probable responsibility. Security on landed property, 
 in this country, is very uncertain and continually fluctuating—- 
 a Sheriff's sale would be necessary at every step; and if 
 people were really willing to forego all the advantages of 
 realizing their fixed property when an advantageous opportu- 
 nity occurred, by binding it to this Company and its fortunes, 
 yet it is very doubtful if any real advantage or solid security 
 could be reaped therefrom by the Company itself. A note of 
 hand, payable on demand, and well endorsed, could much 
 easier be turned into money on an emergency, than a doubt- 
 ful mortgage, where parties were inclined to dispute either. 
 § This provides that =f. 22,50') shall at all times remain in the 
 actual possession of the Company's officers for the time be- 
 ing, as an immediate Fund in the event of great and unfore- 
 seen accidents, and thereby obviating all probability of any 
 future demand on proprietors. The interest received on this 
 sum will be thrown into the general mass of profits, and 
 divided semi-annually of course. 
 
 4th Resolve— \\ In future advertisements for the election of Direc- 
 tors, the names of the President and Directors will be sub- 
 stituted for the Chairman and Committee. 
 
 7th Resolve—^ This Deed will be framed so as to meet the laws of 
 the co<mtry, as it will virtually serve in lieu of a Charter 
 until that is obtained, when of course it wiil be vaid : it will 
 bind the whole Company ia one conip*ct b</dy, investing aj 
 
the ume time the DIreeten /or the time t>cin|; with their 
 executive jh. wer under sucii limitations as may fully insure 
 the Proprietors from any abuse the Directors can make of 
 that power ; in a woro, U will contain the essence of the Laws 
 
 ■•and Regulations of the Company framed in a legal manner, 
 so as equnlly to protect the Proprietor, Director, and persoa 
 insuring in this Company. 
 9th Resolve — ' ' Tliis Certificate is the Tiile Deed of every Pro- 
 prietor in this Company, and is so framed as to contain every 
 
 ' privilege or advantage he can possibly have as a Proprietor 
 in the Company, as well as to .point out to him the duties he 
 owes to it, and the conditions on which he holds his claims. 
 Ir virtuo of this Certificate he has it in his power to sell, be- 
 queath, assign, or in any other manner he pleases transfer 
 the whole or any part of the Shares he may hold, to any 
 person or persons the President and Directors think ,|»roper 
 not to object to. If he dies intestatCi it dciccnda to hi* hein 
 
 -^t law, iike any other proper^. 
 
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