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in 1841. Thus a total of 4,618 lives-or deducting discontinued policies, 4,083 liveswere under observation, and 1792 deaths, including a few which have been reckoned twice, probably from being in both series.
Table showing the probabilities and mean duration of Life, resulting from the total experience of Amicable So. from 5th April, 1808, to 5th April, 1841.
The following table shows the mean durations of life at every fifth year of age from 25 to 95, according to Amicable So.'s experience and other tables:
The Amicable thus indicated a less mortality than the Equitable from 25 to 40; and both agree in giving a more favourable view of the chances of life at those ages than even the Carlisle Table or the Government male annuitants. From 45 to 60, the chances of living over five years are less by the Amicable Table than the Equitable, but the difference is inconsiderable. Above 60, the mort. in the Amicable increases rapidly in comparison with that in the Equitable; and at 65 and all the higher ages it gives the chances of living over five years less than the Northampton Table.
With respect to the series of old members, the circumstances were considerably different, and the rate of mortality differed accordingly. Of the 1,088 lives of which the series is composed, more than half were above the age of 57 when the observation commenced in 1808; and as the limiting age of admission into the So. previous to that year was 46, it followed that more than half had lived in the So. upwards of 11 years, so that they could not be regarded as belonging to the class of selected lives. Besides, the members were not, as in the other series, continually recruited by fresh admissions, no new member having been added to the original list. A comparatively high rate of mort. was therefore to be anticipated from the exp. of this class alone: and such turned out to be the result. The mortality of the new series will be found to coincide very closely with the mean duration of male life in France, as shown by M. Demonferrand's Tables.
It may be stated generally that the principal feature of distinction between the Amicable and Equitable Tables is the greater_mort. indicated by the former at the higher ages, particularly between 65 and 80. In point of absolute value, the experience of the Amicable So. is undoubtedly much inferior to that of the Equitable.
of deaths in the Equitable Table is 5,144, while the number in the Amicable Combined Table is 1792.-Galloway.
Almost all the members of the Amicable were males, and the great majority appear to have been inhabitants of Lond. The ages of admissions of the members of the new series was as follows:
This review of its mort. exp. appropriately completes our hist. of the Amicable Corp. AMICABLE SO. FOR MARRIAGE, in Bell Court, Bow Churchyard, founded in 1710, for Birth, Marriage, and Service Ins. We give some details of this office under MARRIAGE INS. There appears to have been another Amicable So. for Marriages held at Mr. Gray's, Swan Yard.
AMICABLE So. kept at the Sun and Cross Keys, in Wich St., founded in 1709, as a branch of the Taylors Friendly So. for Ins. upon the Lives of Men, Women, and Children. We shall give further details concerning it in HIST. OF LIFE INS.
AMICABLE So. OF ANNUITANTS.-This So. was founded in Westminster in 1769, for the purpose of securing to its members an annuity of £26 on arriving at the age of 50. It was one of many sos. of a similar class, founded about the same period. The rate of contribution required from the members was generally inadequate to the benefits promised; and the sos. died out generally about the period when, if properly constituted, they would have been of service to the members. This particular So. continued in operation for some years. The following advertisement was issued by its managers in May, 1777, and has at least one remarkable feature :
Amicable So. of Annuitants for the Benefit of Age, estab. Christmas, 1769. The directors of this So. meet this day, and the first Monday in every month, at the Feathers Tavern, near St. Clement's Church, in the Strand, from 7 to 9 in the evening, for the admission of members of either sex being Protestants. Conditions: Any person may subscribe for one, two, three, or four shares, and when 50 years of age will be entitled to an annuity of £26, £52, £78, or £104 per ann. during life, or such sum as the fund of the So. will admit, except such as become members at upwards of 40 years of age, who must continue members for ten years before they are entitled to the said annuities. Also may be admitted without admission money, paying quarterly payments in proportion. Persons may be admitted from 50 to 54 inclusive to receive the said annuity at 9 years; from 55 to 59 inclusive, to receive it at 8 years; from 60 and upwards at 7 years. Abstracts may be had at the above tavern, and at the Bank Coffee. house. The Deed of Sett. of this So. is enrolled in the High Court of Chancery.
The ultimate fate of the Co. we cannot trace.
AMICABLE So. OF MASTER BAKERS.-This So. was founded under articles of agreement dated 25th June, 1798. Its object was to raise an annuity fund by means of annual sub. scriptions, etc. Every subscriber, who should have been a member seven years, and attained the age of 60 years, was to be entitled to a clear annuity of £60 for life, and the widow of every such annuitant to an annuity of £30, or in certain cases, £60 for her life, if she continued a widow. The So. afterwards became involved in litigation, and its affairs came before Lord Chancellor Eldon in the case of Pearce v. Piper.
As the hist. of this So. is but too illustrative of that of many other sos. of that period, we add the following details concerning it :
The articles provided for payment of ann. subs., etc., that a member who continued a year in arrear should forfeit the money paid; lose all claim on the fund; and cease to be a member of the So.: that no member should become entitled to any efficient benefit from the So. until he had been a member seven years; had completed his seven years subs.; and had attained the age of 60 years. The art. further provided for the appointment of a board of directors, with power to call extraordinary general meetings, as they should see occasion; providing further, that any twelve or more members should have power to convene an extraordinary general meeting in the manner specified.
The art. then, pointing out the mode in which the fund arising from the subs. and fines should accumulate during seven years, directed that at the end of seven years the clear cap. should be valued and ascertained; and the subsequent subs. and ann. produce thereof should be applied in discharge of the current expenses and annuities due or to become due; and that every subs. who should have been a member seven years, and should then have attained the age of 60 years, should be entitled to a clear annu. of £60 for life; and the widow of every such annuitant to an annuity of £30, or in certain cases of £60 for her life, if she continued a widow. In case of several annu. falling due about the same time, some might be deferred for a period not exceeding three months.
If at the end of seven years the funds and income therefrom were insufficient to meet annuities and other outgoings, subs. might be raised to members and annuitants (with exception in favour of any annuitants who had become blind).
On 31st July, 1806, a resolution was adopted by the directors on the report of a committee, to the effect that the So. could no longer exist, and recommending that it be dissolved, and every member be paid his principal and int. Some annuitants appealed, on the ground that if the funds and income were insufficient for the purposes of the So., the subs. must be raised and funds provided. The directors answered that the orig. tables of the So. were founded in error and could not support the promised annuities. Only 20 out of 122 members present at the meeting had objected to dissolution of So. The directors acted upon the opinion of Mr. W. Morgan and Mr. Fairman (author of a work on the Public Funds).
After a good deal of litigation, the Court of Chancery ultimately directed inquiries as follows: 1. To ascertain the state of the So., defect of plan, etc.; 2. To provide a remedy, viz., by add. subs. adequate to the objects; by paying the arrears, and providing for the present and future annuities.
It seems clear that the intention of the majority of the members was, at the end of the seven years, to dissolve the So. and obtain repayment of their money; and in that way to defeat the rights of those who had become entitled to their annu. This proceeding the Court properly frustrated.
AMICUS CURIE (Lat. friend to the Court), a stander by, who informs the Court when doubtful or mistaken of any fact or decided case.
AMITY LIFE. This Co. was projected in 1853 by two solicitors, who did not proceed with the enterprise in the spirit indicated in its title, and so the Co. came to grief. AMSTERDAM.-We propose to note briefly the ins. incidents connected with this, as with other continental cities. It must not be understood that we purpose to attempt a complete hist. of the progress of ins. in them. It may rather be considered that we mention (as a rule) such incidents as arise out of, elucidate, or tend to complete the hist. of ins. in our own country.
We shall pursue the chronological arrangement, mentioning any very special incidents under a separate heading. Thus an important Marine ordin. was promulgated from here in 1598. This will be spoken of in conjunction with later ordin. under AMSTERDAM, INS. ORDIN.; and much light will be thrown upon the various branches of the ins. practised in Northern Europe at an early date.
Several important improvements made in fire-engines have originated in this city. The two Dutchmen, Van der Heide, who were inspectors of the apparatus for extinguishing fires here, invented about the year 1672 hose for fire-engines, which up to that time had been unknown. They used leather for its manufacture. The introduction of hose led naturally to many improvements in fire-engines, in which these same men were prominent. They adapted their engines to the use of suction hose, which in many respects was even of more importance than the use of hose in the ejection of the water; although the last, by enabling the engines to be stood in positions of safety, was of very great practical advantage. [FIRE-ENGINES, HIST. OF.]
Beckmann (Hist. of Inventions) relates how at the fire of the Stadthouse, in 1652, the old engines then in use were of very little service. The city lost by ten conflagrations, while the old apparatus was in use, 1,024, 130 florins; but in the following five years, after the introduction of the new engines, the loss occasioned by forty fires was only 18,355 florins.
These new engines were made with the improvements of the Van der Heides, who had in 1677, five years after they had first tried experiments, obtained an exclusive privilege to make these engines for a period of 25 years. In 1682, their engines being sufficiently distributed throughout the city, the old ones were laid aside.
In 1695 there were 60 of these engines in the city, the nearest six of which were to attend each fire. In the course of a few years they were common in all the towns of the Netherlands.
The following is an authentic outline of the regulations in force in 1715, for the safety of the city in cases of fire. They were communicated for the information of residents in Lond., after a serious fire in the last-named city about that date.
1. The law positively forbids all crowding to the place; nobody that is not a neighbouring inhabitant dares enter the street where a fire is broke out, for he would immediately be clapt in jail.
2. A sufficient number of men are listed, who are obliged to serve at extinguishing fires (the porters,
for example); these are under the most exact regulation and discipline. They are disposed into classes, and each class is governed by a master, who is authorized by the magistrate. The masters are settled inhabitants at different parts of the city, and have each a list of the names and habitations of the men that are under him. The masters are bound to appear at the first notice of a fire, and the men upon the same notice are bound to attend upon their masters. Every man possesses a brass ticket, which he brings with him and delivers to his master, which is a token of his appearance, and entitles him to a reward of half-a-crown or more, according to the service he has performed. He that does not appear, or he that departs without leave of the master, is fined or otherwise punished; and disobedience or neglect is severely punished. And in short, the men are under the same discipline as soldiers, and like soldiers too are exercised, and taught how to work an engine, and to do all other the services that are necessary in suppressing fires. All these men wear painted hats; that is, thick felts painted all over with red, blue, green, yellow, etc., to distinguish the class they are of.
3. Engines are placed in all parts of the town locked up in little houses made for them; the keys whereof are kept by the master, who is obliged to take care to keep the engines in good order. The buckets are hung up in the citizens' houses in convenient number and at convenient distances, and at every such house the picture of a bucket is set upon the wall. And long poles with large hooks to them, ladders, and ropes, and other necessaries, are kept in the churches to be made use of as occasion offers.
4. To encourage alacrity, a reward of £10 is given to the men that bring in the first engine, £5 to the second, and half that sum to the third. And lastly, the magistrates afford all possible assistance in supporting the authority of the masters of the firemen. By these methods we are protected from the rage of fire; and why the same methods should not preserve you too, I cannot see. Thus much I am sure of, that by order and discipline the greatest works may be performed; but from confusion and irregularity no good effects can arise.-Amst. Jan. 31, 1715.
The mania for new projects, especially of Ins. Cos., which had been so prevalent in England during 1720, and for several years preceding, extended itself to Holland. We find from a cotemporary authority, under date Amsterdam, 26th July, 1720, the following: We are a little alarm'd at the daily multiplication of new projects among us. We are now beginning one here of a nature very particular, and its circumstances surprising. The subs. is to be extremely great; but as nothing is paid down at first but half a florin, it is not to be doubted but that the subs. will be quickly fill'd, tho' it be for no less than 100 millions. The contriver or undertaker of this is said to be an Englishman; the gentlemen of that nation being, it seems, at present more fam'd for projecting than any other. We do not, however, know what measures they intend to take for the carrying on a design of this magnitude till they make known their scheme; but it is to be call'd (as they all are) a Co. of Ins.
The bill of mort. for Amsterdam shows the deaths for the nine years 1728 to 1736, both inclusive, to have been as follows:
1728 1729 1730 1731 1732 1733 1734 1735 1736.
The number of burials in this city in 1740 was 10,056 persons, being 2,500 more than in the preceding year. The ships which came into Amsterdam in the same year were 1,645, being 168 fewer than in 1738. In 1742 there arrived 1,591 ships. In this same year (1742) Kerseboom pub. in this city a fol. vol. containing a mort. table deduced from the registers of annuitants in Holland and West Friesland. [KERSEBOOM'S TABLE OF MORT.] A So. was founded in Amsterdam about 1765 for granting annu. on survivorship. Thus, if a life aged 20 desired to secure an annu. provided it survived another person aged 60, this So. promised for the ann. payment of 110 florins the following benefits: If the oldest life failed in the first year after admission, an annu. of 100 florins; if in the 2nd year, 200; if in the 3rd year, 300; if in the 4th year, 400; if in the 5th, or any subsequent year, 500 florins. This So. opened an agency in Lond., and hence the attention of Dr. Price was drawn to it. In the first edition of his Obs, on Reversionary Payments (1771), after reviewing the scheme of this So., he says:
It is, therefore, evident that the scheme of this So. is in this instance grossly defective. There are other instances in which it is even more defective; and the whole of it, like the schemes of most of the Lond. Sos., appears to have been contrived by persons who had no principles to go upon. And yet it has been much encouraged. Many have entered themselves into it from different parts of Europe; and the printed plan acquaints us, that it is now in possession of an ann. income of 200,000 florins. What disappointment then must it in time produce? Mr. Cadell can procure from his correspondents in Holland any information for those who may want to know more of this So. But indeed I should be sorry to find it much enquired after in Lond.
In his 4th ed., 1783, Dr. Price says: "This So. was so wretched a deception that it was impossible it should long stand its ground; and I am told it now exists no more. Beawes, an English writer on M. Ins. matters in the middle of the last century, says: It is generally believed, and by many affirmed, that more ins. are made at Amsterdam than with us, or indeed in any other port in the world; their extensive commerce by sea, and the extraordinary number of vessels continually sailing from thence, naturally occasions many to follow the practice of ins.; but what has yet augmented this business and multiplied the policies of ins. almost to infinity, has been that honour and integrity with which their underwriters were formerly characterized, as their policies were then only subscribed by men of large fortunes.
It is certain that the heavy duties on M. Ins. inflicted in Gt. Brit. did for a time drive much of the business into Holland. [MARINE INS., HIST. OF.]
The pop. of this city has not shown the steady progress incident to many cities:
In 1622, on the authority of Struyck, it was
,, 1753, on the same authority after investigation 200,000.
1777, on the authority of Quetelet
1787, on the authority of Lobatto
,, 1830, on the authority of Quetelet
These are mostly estimates based upon calculations of the number of deaths at those periods. For half a century or more there appears to have been a steady decrease.Milne, Ency. Brit.
In 1830 Herr Lobatto pub. a work on Life Ins. containing a table of mort. for the city of Amsterdam. The deaths in the city in the earlier part of the present century were said to be I in 22 of the pop.
In every serious case of fire now, the police and military are in attendance, to act in conjunction with the chief fire-master.
AMSTERDAM, INS. ORDINANCES OF.-The first ordin. relating to affairs of Ins. in this city was promulgated in 1598. This was very soon after the city began to take a position of importance, and while the Netherlands were yet in subjugation to Spain. We refer to this fact to account for certain resemblances between this early ordin. and the Consolato del Mare. Subsequent ordinances were promulgated in 1673, 1744, 1756, and 1776, respectively. These ordin. are called by nearly all writers Marine Ordin.: no doubt because, in the main, they were designed for the regulation of Marine Ins; but this was not to the exclusion of other branches of ins.: hence we prefer to call this and the other similar ordinances we shall have to deal with in these pages-many of them of much earlier date than the present-"Ins. Ordinances." The parts of the ordin. of 1598 relating to other branches of ins. than marine will be noticed more in detail under their appropriate heads. The following is a brief summary of its provisions as to Marine Ins., which were very ample, and implied long familiarity with the practice :
Ins. to be 10 p.c. under value of goods shipped. If over 2000 livres, all beyond that may be covered, but one-tenth of the 2000 to be always at risk of insured. Ship's name, captain's name, name of loading port and destination, to be inserted in pol., etc. If in either port of destination or port from which vessel sailed no news be heard of ship or merchandize for one year and one day from date of ins.-if destined for places in Europe and Barbary-goods to be held for lost, and claims to be paid in three months. As to other places more remote, the time to be observed, two years. Ins. for Europe and Barbary made three months after ship sailed, and for more remote places, six months after, to be null and void, unless notice be properly given to insurer [of the date of sailing?]. Captain not to enter into any other port or change the voyage, only according to pol., on penalty of nullity, unless required by necessity. Then follow provisions as to detention of ships by rulers of foreign countries, and what is to be done in cases of undue detention and consequent damage of cargo, etc. Ins. on ship artillery or munitions of war not to exceed two-thirds value. No ins. whatever to be made on freight or equipage, nor on powder, bullets, victuals and the like which are consumed in any way. Captain or crew not to ins. wages or effects, except merchandize, in case they have any beyond what they receive for their wages. An action in average ought to be entered within 1 years, if the average occurred within limits of Europe or Barbary, and three years if beyond said limits, from the time the ships have been entirely unladen. In case of loss, claims arising in any other manner, actions to be entered within similar terms-time to commence from epoch when accident happened.
As to merchandize going or coming by land or rivers, it is to be regulated in the way the merchants find best in contracting. The proprietor himself, however, must run the risk of one-tenth of the value. Carriers not to do ins., nor to ins. their carriages and horses, except for half their value, and their wages not at all. Those who ins. on things liable to corruption, or on munitions of war, or silver, coined or not, to have the same mentioned in pol., otherwise ins. null.
The parties contracting ins, to pass them in presence of judges, notaries, or other public persons either by proper and particular pol. schedules, signatures, or obligations, signed by the persons bound, or by witnesses worthy of faith, in the way the parties think proper. All pols. to be made out conformable to this ordin. Ins. might be made upon "good or bad news,' etc. No ins. henceforward to be made on the life of persons, nor on any wager of voyage, and similar inventions. If made to be null. [LIFE INS., HIST. OF.]
The Ordin. of 1673 presented no new feature, and therefore we need not dwell upon it. We thus reach that of 1744, which is called, Ordin. of Ins. and Averages of the City of Amsterdam, for the year 1744, and which commences as follows:
Whereas the worshipful gentlemen of the judicature of the city of Amsterdam have experienced that since the pub. of the statutes or ordin. of ins. and averages, and the amplifications thereof, many alterations have from time to time happened in trade; whence sundry matters and articles require to be altered, explained, or amended: therefore the said gentlemen, after advice taken concerning trade, ins. and averages, and on the information of many eminent merchants and underwriters, have thought proper, by virtue of the privileges of this city, and of the letters of grant, approbation, and confirmation granted ex abundanti by their high mightinesses to the said city on the 17th July, 1612, to confirm, enlarge, and explain the aforesaid ordin, and the amplifications thereof; and further, to ordain, enact, and institute, as by these presents is ordained, enacted, and instituted, that in matters of ins. and averages henceforth shall be observed and regarded what here follows.
Then commences "Article the first," which reads:
It is ordered that all stipulations or conditions inserted in any pols. of assu. which are contrary to this ordin. shall be deemed void, and of no value, notwithstanding the contracting parties shall renounce all benefit from this ordinance.
As we cannot follow in detail, or in any useful form, the entire 61st sec. of this ordin., we must content ourselves with noticing a few of its main provisions; and as we propose to place before our readers the various forms of policies issued and used in conformity with this ordin., we think its scope and purport will be made clear without any waste of space.
The first remarkable provision is in Art. 8, which provides that underwriters upon the hull of a ship built of FIR-WOOD shall only be liable to pay half the loss, unless the fact of such wood being employed is named in the policy. We next reach the subject of TRANSPORT INS.-a branch of ins. bus. almost unknown in this little island of ours,