Queen Company shares debated amid building investment note
The chairman and directors clash over issuing new shares at 20s or 25s with Mr Baruchson and Mr Wells arguing the price. Wells asserts new shares at £1 won’t devalue existing stock and cites Alliance Bank as example. The motion passes. a late discussion covers a £26,000 Queen Insurance Buildings purchase in Gracechurch Street, leased 99 years with 10 percent yield prospects and significant rent from floors.
MENTIONED IN THIS ARTICLE
Baruchson
Mr. Wells
Mr. Baruchson
Wells
Alliance Bank
Queen Company
Picton
London
Queen Insurance Buildings
Cowie
Accidental Death Insurance Company Meets To Review Growth
The tenth ordinary general meeting held at the Bank Buildings, with Mr Alfred Smee presiding, reviewed a year of expanding business from May 1863 to April 1864. premiums rose from 52500 to 141000 annually, with total yearly premiums collected at 81201 2s 10d. Directors upheld strict risk controls, settled claims weekly, and planned a reserve fund while paying 5 percent to shareholders.
MENTIONED IN THIS ARTICLE
Alfred Smee
Oram
Guy’s
St. Bartholomew's
Laurell
Integrity Life Assurance Society Sixth Annual Meeting Report
The sixth annual meeting of Integrity Life Assurance and Sick Benefit Society was held at the Whittington Club Arundel Street Strand with Mr J Nash in the chair. The secretary Mr W Travers read the yearly report and the actuary noted that rapid new membership has kept the society young overall averaging about eighteen months since start.
MENTIONED IN THIS ARTICLE
Integrity Life Assurance and Sick Benefit Society
Whittington Club
Arundel Street
Strand
J. Nash
Wm. Travers
Youthful society reports thriving with 18,716 members
The group notes six month average membership period, an age average near one year, and an annual income from premiums of £9,403 18s 7d. They state premiums adequately cover risks. The meeting re-elected retiring committee members, trustees, and auditors, praised the secretary, and dispersed after thanks to the chairman.
MENTIONED IN THIS ARTICLE
Travers
Directors Report on British Nation Life Assurance progress
The annual report shows 4,946 proposals for £1,141,235, with 151 declined and 38,959 policies completed, generating £994,520 in new premium income and a surplus of £35,250. A 6 percent dividend on paid-up capital is proposed. new business compares favorably with 1863. Also notes dividends and alterations at Marine Insurance and British and Foreign Marine Insurance Company.
Public water pressure concerns prompt fire safety letter
Frederick Hoppes of Lambeth fires station urges the public to demand better water supply and higher pressure from Lambeth and Southwark Vauxhall mains after a large fire at Oglebys. He cites provinces with higher pressures and warns of continued risk to the metropolis. The letter is dated June 1864. The second note announces the City Bank half year meeting on July 19 to authorize a £1,000,000 capital increase in new shares.
MENTIONED IN THIS ARTICLE
Chronicle and Register
Thames
Messrs
Ogleby
Lambeth Waterworks Company
Messrs. Ogleby’s
Birmingham
Leeds
Manchester
Liverpool
Newcastle
York, &c
Southwark and Vauxhall Company
Frederick
Hoppes
Hodges
Lambeth
City Bank
Also Mentioned on This Page
British Nation Life Assurance Association
Marine Insurance Company
British and Foreign Marine Insurance Company
South London
Ogleby's
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