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General Considerations.-It is a rule of law that the burthen of proof of the event insured against having happened rests with the insured, and not with the insurer. It is equally a rule that those who impute fraud must substantiate it, or abide by the consequences.
An action at Common Law may be brought in the name of the party or parties whose names are in the pol., or of one of them, where one is only interested. It is sufficient that the action be brought in the name of the party in the pol., though others are jointly interested, and though he be only agent. The action should not be brought against an agent, though he have subscribed the pol., but against the principal. In support of these positions see Marsh v. Robinson; Cosack v. Wells; Parker v. Beasley, and Hagedorn v. Oliverson.
In 1833-by 3 & 4 Wm. IV. c. 42, s. 29—it was provided that in certain actions, including those on ins. pol., a jury may "give damages in the nature of int. over and above the value of the goods."
There are numerous cases in the law-books wherein money actually paid in respect of claims has been recovered by the insurers. The principle of recovery by the insurers is not restricted to the case of fraudulent claims, as is sometimes supposed. If a claim be settled by the insurers paying the amount under circumstances of mistake-mistake of facts, not of the law-which mistake could only have been prevented by the disclosure, at the time of settling the claim, of facts which were not disclosed, whether by fraud or in ignorance on the part of the insured, or with any other persons with whom knowledge of the fact rested, from this state of circumstances will result a rule that the amount paid for such claim shall be recovered by the insurers.-Beaumont's Law of Fire and Life Ins. In support of this view see Forrester v. Pigou; Chatfield v. Paxton; and Lefevre v. Boyde. CLANCHY, D. T. L., was Sec. of Equitable F. from its commencement in 1850 down to 1852. CLARENCE LIFE ASSU. So., founded in 1854, with an authorized cap. of £100,000, in 20,000 shares of £5, and regis. under Joint-Stock Cos. Regis. Act. The orig. prosp. said:
The uniform success which has now for many years attended L. assu. sos. forms one of the most remarkable features in the monetary inst. of this country. It must strike every one as singular, that among the many enterprises of this kind begun during the last 50 years, scarcely an instance of failure has been known to occur; and it is equally remarkable that such of them as have been estab. for a period, to justify comparison, have proved themselves to be more remunerative than any other undertakings whatever.
It is therefore not to be wondered at, that so many assu. cos. should recently have become candidates for public favour and support; and that there is still a large field open for their operations is amply proved by the fact of the enormous increase of a su. effected within recent years. The skill and activity with which the younger cos. have made known their respective and peculiar recommendations have secured a degree of attention to the advantages and practice of L. assu. which were previously altogether unknown; and thousands of all classes now assure their lives, who, but a few years ago, were entirely ignorant of the benefits and blessings arising from such a system. We next arrive at the "special features" of the office :
One of the most effective means for extending the bus. of a L. assu. co. is the estab. of an extensively ramified system of agency; and the success of some of the most prosperous institutions has been mainly attributable to the care bestowed on this department. It is therefore proposed by the promoters of this So. to give its regularly-appointed agents a direct and beneficial interest in its prosperity, and the D. of Sett. contains an express provision securing to them a share of the profits. The extent to which each agent will participate will depend on his own efficiency, and the degree in which, by his individual exertions, he has contributed to the So.'s prosperity-so that he will receive that fair and legitimate reward which ought to be considered as undoubtedly due to his labours.
It was estimated that this "extraordinary commission" would augment the ordinary commission by about three-fourths. Two other features were put prominently forward : (1) "Opportunities to assure will be afforded by the Clarence L. Assu. So. to every class of persons, as well in Gt. Brit. and Ireland, as in Her Majesty's Plantations or Colonies, and in all places beyond the Queen's dominions." (2) "The promoters of the Clarence L. Assu. So. have resolved to develope the principle and system of granting loans in connexion with L. assu. beyond anything that has yet been offered for the accommodation and approbation of an important portion of the public". . The prosp. bore the signature of H. Lang, Sec.
We believe the Co. hardly got into full working before its bus. was trans. to United Homeopathic. This occurred in 1855.
CLARK, EBENEZER, JUN., Man. and Sec. of the Emperor L. and of the Emperor F. since 1856. Mr. Clark is an active worker in many movements in the direction of popular progress.
CLARK, GEORGE, Act. and Sec. of Argus L., which positions he has held for many years. He entered the office in 1840 as chief clerk. He entered upon the actuarial duties of the Co. in 1841. In 1862 he became Sec. of the Co. also. Some years since he wrote a work upon Life Contingencies, which, however, has not been pub. He was Consulting Act. of the Palladium. Mr. Clark has displayed much tact in the manner in which he has harmonized the discordant elements consequent upon one or two unsuccessful attempts to terminate the existence of his Co. by amalg.
CLARK, JOHN, F.A.S., Edinburgh, Land and Tithe Agent, pub. in Gloucester in 1806, An Inquiry into the Nature and Value of Leasehold Property, Reversionary Interest in Estates, and Life Annuities, with a variety of Tables, demonstrating the Ratio of Fines due on the
Renewal of Leases of Church, College, and other Estates; and for the Purchase or Sale of Leases of every Denomination. 2nd. ed., London, 1808. [ANNUITIES.] [LEASES.] CLARK, JOHN, for some years Man. Director of European (No. 1), and also of the Beacon F. In 1818 he pub., Obs. on the Nature of Annuities, Life Ins., Endowments for Children, and Investments of Money for Accumulation; with a General Outline of the Plan, Laws and Regulations of the European Life Ins. Co.; to which is annexed a Slight Sketch of the Difference between Income derived from Annu. and that obtained in Perpetuity from Legal Int. The tract was written and pub. with a view to improve the bus. interests of the European (No. 1), under which title we speak more at large of its contents. It was sold for 2s. 6d., which, however, was allowed to the purchaser on becoming a shareholder, annuitant, life insurer, etc., etc., in the said Co.
CLARK, SAMUEL, pub. in 1758, The Laws of Chance; or, a Mathematical Investigation of the Probability arising from any proposed Circumstance of Play, applied to the Solution of a great variety of Problems relating to Cards, Bowls, Dice, Lotteries, etc. [CHANCES, LAWS OF.]
CLARK, STEPHEN G., Counsellor-at-Law, editor of the 2nd ed. of Digest of F. Ins. Decisions in the Courts of Gt. Brit. and N. America, pub. 1868. The work is one of considerable merit and utility, and has received various improvements at Mr. Clark's hands. CLARK, T. ALLEN, Sec. of Home and Colonial Marine since 1867.
CLARK, THOMAS, was, between 1852-54, Provincial Man. of British Industry. CLARK, WILLIAM, was Act. and Sec. of National Assu. and Investment, at its commencement, and for several years afterwards. He next became Act. and Sec. of the Tontine Life and Annu., and remained from its commencement for several years. In 1849-50 he was Act. and Sec. of Consolidated.
CLARK, WILLIAM, for some years Act. of Dundee Marine.
CLARKE, HON. JULIUS L., Íns. Commissioner for the State of Massachusetts since 1870. Mr. Clarke paid a visit to Europe in 1872, and made the personal acquaintance of a number of ins. men in Great Brit., by whom he is pleasantly remembered.
CLARKE, HYDE, pub. in 1855 Statistics of Fire Ins. in 1853 and 1854, reprinted from the Land and Building News. No great knowledge of the subject is displayed in this compilation.
CLARKE, ROBERT, Surgeon, read before the Statistical Section of the Brit. Asso. at Glasgow, in 1855, a paper, Short Notes of the Prevailing Diseases in the Colony of Sierra Leone, with a Return of the Sick Africans sent to Hospital in 11 Years, and Classified Medical Returns for the Years 1853-4. Also Tables showing the Number of Lunatics admitted to Hospital in a Period of 13 Years, and the Number treated from 1st April, 1842, to 31st March, 1853. This paper will be spoken of under SIERRA LEONE. CLASS OFFICES.-These are offices especially intended to appeal to any one section or class of the community for their support. Many such offices have been founded in Great Britain; some in other countries, especially in the U.S. Among the earliest of such offices in this country were those appealing to the professional classes-especially to the Law. These are Law Life (founded 1823), Legal and General (1836), English and Scottish Law (1839), Equity and Law (1844), London and Provincial Law (1845), Law Fire (1845), Law Property (1850), Law Union (1855). The Solicitors and General (1845) has passed away. Then there are those connected with the Clergy, viz. Clerical, Medical, and General (1824), University (1825), Clergy Mutual (1829). As to the Medical profession, in add. to the Clerical, Medical (just named), there have been the Medical, Legal, and General (1846), and the New Equitable(1851). Coming to Denominational offices, we have the Friends Provident (1832), National Provident (1835)- each of these being mainly founded on Quaker influence and connexions. The General (1837) [orig. called Dissenters and General], appealing to the "Independents." The Church of England (1840), Wesleyan and Gen. (1841), Star (1843), supported by a powerful Wesleyan connexion. The Scottish National (1841) has or had much support from one section of the Church of Scotland; and the British Empire Mut. (1847) and the British Equitable (1854) have each been more or less associated with religious bodies. The Catholic, Law, and General (1846), the Protestant (1852), and the English and Irish Church (1853), have long since passed away. Looking in an opposite direction, there have been the Licensed Victuallers (1836) [afterwards name changed to Monarch], the Brewers and Distillers (1851), against which may be named, as a powerful set-off, the Temperance and General (1840). Turning to Fraternities, we have had the Freemasons and General (1838) [afterwards became the ill-fated Albert], and there is now the Masonic and General (1868). In the Agricultural interest there is the Royal Farmers (1840), and the Norfolk Farmers (1844). The Agriculturist (1845) has passed away. For Schoolmasters there has been the Mentor (1848), and the Church of England Schoolmasters (1850). The Governnesses Benevolent (1843) is an annu. asso. Then there is the Provident Clerks (1840). And finally the Industrial offices, with the Prudential (1848) at the head [this Co. also transacts general life bus.], followed by the Victoria (1860), Mutual Provident Alliance (1847), the National Industrial (1854), the Beehive Fire (1870), and the British Workman (1871).
It will be seen from this enumeration that the various class interests have been pretty well looked after. The list might have been enlarged, but we are content to name the
prominent of each class. There was at one time another class distinction set up-that of old" against new offices. It has happily died out. CLASSIFICATION OF LOSSES.-Ins. offices transacting several distinct branches of bus.— as F., L., Marine-necessarily make some classification of their losses, to the extent of keeping those from each branch distinct. But offices limiting their bus. to one class of ins. only, such, for instance, as F., have learned the wisdom of keeping classified records of their losses, as against their income, from each class: as ordin. ins.; hazardous ins.; doubly hazardous ins.; special risks-these latter being even again subdivided. In this manner the soundness of a bus. may be preserved--for one or two classes of unprofitable risks may be found to consume the profits of many good classes. It is in regard to the nature of the risks entered upon that some offices with a small income make more profit over a series of years than those with much larger incomes.
Even in Life offices many most instructive results may be obtained by a careful classification of losses; while in Accident ins. it is one of the secrets of the bus. In Fidelity ins., in Glass ins., and, indeed, in all classes of ins. wherein the element of moral hazard is strongly infused, it must necessarily be so.
In Marine ins. the losses arising from the perils enumerated in the pol. are classified as (1) TOTAL LOSS; (2) AVERAGE; (3) CHARGES. These are spoken of under those particular heads. But as all risks undertaken are subject to each of these incidents, they do not illustrate our present purpose. The practical classification in marine ins. lies essentially in the determination of whose, as well as what risks to accept. [SELECTION OF RISKS.]
CLASSIFICATION OF POLICIES.--This is a process to which the pol. of a L. office are generally subjected, prior to the periodical valuation of assets and liabilities. Where each pol. is valued separately, a classification is not necessary; but it is still most desirable, if only as a means of check. In the first vol. of the Assu. Mag. Mr. C. Jellicoe, in a paper, On the Determination and Division of Surplus, and on the Modes of Returning it to the Contributors, reviews the question thus:
Having, then, determined on the true rates to be adopted in our calculations, and being provided with the usual T. of ann. and single prems., annu., etc., answering to such rates, our next object will be to make a classification of all the assu. in accordance with the year in which the lives assu, may be severally born. We are aware that it is a very common practice to estimate the value of each assu. separately, in which case a classification is of course not needed. The only good reason for a separate estimate arises in the also common practice of dividing the surplus in proportion to the difference between the amount of prems. at compound int. and the value of each assu.; and this, it will be seen, renders the determination of the latter indispensable. We believe, however, that we have clearly demonstrated, on a former occasion, that such a mode of division is entirely erroneous, and therefore there is no longer any corresponding advantage to compensate the excessive labour attendant upon a valuation of each risk separately; on the contrary a very great disadvantage arises from the increased liability to error which such a proceeding necessarily involves. As regards any difference in the results of a separate and classed valuation, all experienced computers will at once admit that it is wholly insignificant. We believe we are quite within the mark in saying that the results will be identical even when the number of assu. in each class does not exceed 6 or 8. If the number in many of the classes be less than these, there is certainly nothing to be gained by a classification; but otherwise it is undeniably the preferable alternative.
He then proceeds to make some practical suggestions regarding the process of classification, which it may be useful to reproduce in a condensed form here:
In proceeding to make the required classification, it will be found most convenient to assume that all the lives were born on that day of the year at which the valuation is supposed to be made; and we would suggest also that the entries be regulated by the date of birth, and not by the office age. The lives in each class will thus, on the average, complete a given number of years in the day to which the accounts are made up. We are not ignorant that it is usual to adopt the office age, on the plea that the error, on the average, of half a year in each case, caused by this arrangement, is in favour of the office. It is better, however, if avoidable [attainable?], that there should be no error; that the truth should be rigorously adhered to throughout; and that any safeguards which may be required should be matter of distinct consideration.
As will appear hereafter, it is not necessary to make any distinction between parti. and non-parti. pol.; the two may be blended together, provided only that they are for the whole term of life, and at a uniform prem.: it may perhaps be desirable to affix some distinguishing mark against them. Of course any add. already made to the sums assu. will have to be included, and due notice will have to be taken of any reduction in the orig. prem.; and on this, as well as on other accounts, it is better to have fresh lists at each valuation, and not a species of debtor and creditor account in which the number of existing assu. is found after deducting the terminated ones. It is not necessary to take note of prems. being payable half-yearly or quarterly; the equivalent ann. prems. may be safely substituted in each case. To pursue a different course would render the classification of such assu. impracticable, whilst no advantage would accrue from the separate estimate of their value.
It may be well to mention here, too, that where an extra prem, has been made for any deterioration in health, the corresponding age should always be considered as the true one, and the life classed accordingly. Where the extra prem. is on account of residence abroad, or for sea risk, it must be discarded and treated separately. If the extra charge be one in accordance with T. specially made for any given climate, as is now generally the case with Indian risks, the assu. itself will come under a different class altogether, and must of course be omitted-to be valued eventually on the same principles as regards foreign mort. as those adopted in reference to the native.
The reader will understand that, high as the authority of this writer stands in matters of practice, the improvements in practice must be followed irrespective of all authority to the contrary. Mr. Jellicoe's views were in advance of the time he wrote; yet practice has outstripped them. It is now found possible, by the aid of properly constructed valuation registers-in which all the required details must be entered concurrently with the issue of the pol., and which must be kept revised with each change in any and every pol.-to complete valuations in as many hours as days, or even weeks, were occupied formerly.
Under such a system accuracy need not be sacrificed to speed. By these means, aided by valuation T., such as have been specially prepared in the U.S., a revolution has been in recent years accomplished. [SURPLUS.] [VALUATIONS.]
CLASSIFICATION OF RISKS.-In nearly every branch of ins. bus. some classification of the risks to be accepted by the office has to be made. Even Annuity offices have found to their cost that selections can be made against them. They meet the difficulty by limiting the age at which they will grant annu. on the ordin. scale. The Classification of Risks in Marine ins. is more complicated and fluctuating, depending (inter alia) upon (1) class or character of ship; (2) character of master and owners; (3) nature of cargo -its liability to destruction by salt water, or damage by delay, and its own inherent nature; (4) season of the year; (5) peace or war. The Classification of Fire risks is (1) ordinary; (2) hazardous; (3) doubly hazardous; (4) special --with many different degrees regarding the latter. In Accident ins. the classification depends almost entirely upon the relative risk from "occupation." In Fidelity ins. there is first personal character, next, occupation-as determining temptation and opportunity. In Glass ins. "occupation" is also an important element; but "location" is nearly as important an element; in some cases more so. In Carriage ins. "occupation" is necessarily an important element. In Hail ins. "location" is also very important. In Cattle ins. the classification (as we have seen) is primarily under broad distinctions; but the prevalence or otherwise of "Cattle Disease" must exercise an important influence.
Under CASUALTY INS. we have given an extract from De Foe's Essay on Projects (1697), which manifests much sagacity on the subject of Classification of Risks.
The preceding must be regarded as only a résumé of the main points to be borne in mind in relation to each branch of ins. bus. The subject is dealt with more at large in our chapters specially devoted to those branches, and under general heads-such as SELECTION, etc., etc.
CLAUSES, OCCASIONAL-These are clauses relating to marine ins. pol., and employed for the purpose of varying the contract according to the special agreement of the parties. Hence they are called "occasional." [OCCASIONAL CLAUSES.]
CLAVELL, ROGER, pub. about the middle of the 17th century, Tabula Faneratoriæ; or, Tables for the Forbearance and Discompt of Money. Likewise Tables for the Forbearance, Discompt, and Purchase of Annuities to 31 Years, at the Rate of £6 p.c. p.a., according to the Late Act of Parl., calculated by Roger Clavell, Gent., Student in the Mathematics. 2nd ed., 1669, with additions, by T. R. [ANNUITIES.] [INTEREST.] CLAYTON, F. S., Joint Sec. of Equitable Reversionary since 1855.
CLAYTON, JOHN, for many years Sec. of Equitable Reversionary; Joint Sec. since 1855. CLEANLINESS, ITS INFLUENCE ON HEALTH.-The influence of cleanliness upon health is now so generally admitted that we need not occupy space in attempting to prove it. We shall merely record a few practical instances. It is in relation to zymotic diseases that cleanliness has the most important bearing. We have already spoken of this in relation to CHOLERA. Poverty and uncleanliness usually go hand in hand; hence the cry, "Improve the social condition of the people, and you improve the health of the nation." There is an important truth involved in this cry-improve the condition of a section, and you advance the health of the whole community. It is in this light that cleanliness becomes a public question. We may gather encouragement from what has already been accomplished.
In Lond. in 1850 there were 1308 lodging-houses regis. under the then new Act [LODGING-HOUSES], and during the quarter ending 23rd Ŏct. there had not occurred a case of fever in any one of these houses; yet before they were under regulation 20 cases of fever have been received into the Lond. Fever Hospital from a single house in the course of a few weeks. During the cholera outbreak of 1848 and 1849 no case occurred in any one of these dwellings, though the pestilence raged in all the districts in which they are situated, and there were instances of two, and even four, deaths in single houses close to their very walls.-Pamp. on Sanitary Improvement, by W. Lee, one of the superintendent inspectors of the Board of Health.
There is another, almost equally remarkable, case on record. The Chairman of the Metropolitan Association for Improving the Dwellings of the Industrious Classes reported in May, 1850, that while fever and cholera had been devastating whole districts in Lond., not one of either of these diseases had occurred in their buildings. The conditions under which these buildings are regulated are: 1. Thorough subsoil drainage of the site. 2. Free admission of air and light to every inhabited room. 3. The abolition of the cesspool, and the substitution of the water-closet, involving complete house drainage. 4. An abundant supply of pure water. 5. Means for the immediate removal of all solid
Dr. Southwood Smith, in his pamp. on Sanitary Improvement, speaking of the dwellings of this Asso., said, "The deaths were at the rate of about 7 p. 1000, while the deaths in the whole of Lond, were 22 p. 1000; thus the dwellings of the so., though in Lond., were three times healthier than Lond. generally. With respect to children, the infant mort. had been little more than one-fifth of that in Lond. generally. There was also a comparative absence of sickness."
The following are the statistics of the same buildings up to July, 1855, by which it will be seen some slight sickness had been experienced: Out of a pop. of 693 in the Old Pancras-road Buildings, there had only been 4 cases of diarrhoea. In the Albert-street Buildings, Mile End New Town, there had only been 4 fatal cases of cholera—a mother and three children; while 59 families under the same roof had enjoyed perfect exemption from it. In the chambers for single men in the same street, out of a considerable pop., there had been 2 cases of cholera, one of which proved fatal,-the patient having eaten stale crab. In the Soho Chambers, inhabited by 88 young men nightly, there had been only 7 cases of diarrhoea, while in its immediate neighbourhood the people were daily in large numbers dying of cholera. The total number of deaths in the dwellings of the Asso. from all causes had been, out of a pop. of 2200 persons, only 20. Of these 7 were adults and 13 children.
We need not continue the examples. The state of facts continues much the same. Are not these important considerations for F. sos. and industrial ins. asso. ?
CLEAR DAYS.-If a certain number of clear days be given for the doing of any act, the time is to be reckoned exclusively as well of the first day as the last.-Wharton. CLEARANCE.-A certificate that a ship has been examined and cleared at the Custom House.
CLEARING A VESSEL.-To clear a ship at the Custom House is to exhibit the documents
required by law, give bonds, or perform other acts requisite, and procure a permission to sail, and such papers as the law requires. Called for brevity Clearance. CLEGG, BENJAMIN, one of the editors and proprietors of the Insurance Record; also agent in Lond. for the Insurance Monitor of New York.
CLEÏRAC, M. ETIENNE, pub. at Bordeaux in 1647, Us et Coutumes de la Mer, contenant les Jugements d'Oleron, Ordonnances de Wisburg, de la Hanse Teutonique, et autres Pièces. Another ed. in 1661 bearing the following altered title, Les Us et Coutumes de la Mer. Divisées en trois parties. I. De la Navigation. II. Du Commerce Naval et Contrats Maritimes. III. De la Jurisdiction de la Marine. Avec un Traité des Termes de Marine, etc. 4to., Bordeaux, 1661. The dedication of this volume to the Queen of France is signed by Estienne Cleirac, its author and compiler.-Hendriks.
In 1671 an ed. was pub. at Rouen. In 1709 the work was trans. and pub. in Lond. under the title, A General Treatise of the Dominion of the Sea, and the complete body of the Sea Laws. It was done into Dutch by Leclercq, and pub. in Amsterdam in 1757. An English trans. of these laws will also be found in Peter's Admiralty Decisions, pub. in Philadelphia in 1807. Pardessus has edited the same sea laws with great accuracy and ability. M. Cleirac's book is not merely a compilation; it is enriched with copious and learned notes, which entitle him to be placed in the very first rank of modern jurists. His writings are said to have been the source from which Lord Mansfield obtained many of the best principles of Common Law now prevailing in England.—Marvin. CLELAND, DR. JAMES, was appointed to superintend the Census of Glasgow in 1821, [GLASGOW.] In 1823 he pub. a third ed. of Statistical Tables relative to the City of Glasgow. [MORT. OBS.] And in 1831 he pub. in a folio volume: Enumeration of the Inhabitants of Glasgow and Lanarkshire. These works will be quoted under various heads in this work.
CLELAND, WILLIAM, was at one period Sec. of Edin. branch of North of Scotland. He afterwards " promoted" several ins. asso., amongst them the following: (1) General Industrial Life and Deposit-—(2) Industrial and General-(3) National Industrial and Economic Life. All put forward about 1849. In 1855 he became Sec. of Peoples Provi dent (in Lond.); and remained in that position down to 1864, during which period the name of the Co. became changed to European (No. 2). It was also during this period that many of the amalg. upon which the Co. entered were carried out. At the time Mr. Cleland retired from the management there was no immediate sign of collapse. The amalg. with the British Nation did not occur until 1865. Mr. Cleland aided in the recent estab. of the Positive.
CLEMENTS, J. T., was Act. of Licensed Victuallers from its commencement. In 1850 he became Man. also; and remained with the Co. down to the transfer of its bus. in 1857. CLENCH, EDMUND, Financial Agent and Promoter of Ins. Asso.-Mr. Clench was inducted to ins. bus. in the office of the Professional; he passed from thence to the Sea, Fire, Life. In 1850 he was one of the promoters of the Industrial Mut. Sick. In 1851 he became Sec. of National Provincial Life. In 1852, one of the promoters of the National Provincial Fire. In 1856 he was one of the founders of the Bank of Lond. Ins. Co.-a very powerful organization, of which we have already given some account. Since that period he has been concerned in a bus. sense with various trans. and amalg. of ins. offices; we are not aware that he has promoted any new ones. It was at one period the fashion of the ins. press to abuse Mr. Clench. He made one uniform reply-that as a financial agent it was his business to deal with ins. asso., as with other enterprises. He could not make any co. sell its bus.; he could not make any co. purchase the bus. of another. He was employed to negociate; he accomplished his work as speedily as possible, and took the stipulated commission. That class of bus. is, for the present, nearly exhausted.