ASS 



ASS 



AssuRANOf, Royal Exchange, is a corporation or com- 

 pany eftabliflied by an adt 6 Geo. I. c. i8.; and, by their 

 charter, execjted June 22, 1720, cmp»wered to aflure Ihips 

 and goods at fea, or going to fea, and to lend money on 

 bottomry ; and to raile ior this piirpofe a capital of 

 1,500,000!.; on condition that, upon tHVee years' notice 

 being given by parliament, at any time within thirty-one 

 years from the date of the charter, and repayment of the 

 fum of 300,000!. whicli the company had agreed to pay to 

 govemmcnt, the corporation (liould ceafe. In the following 

 year they obtained anotiier charter, dated the 29th April 

 1721, by which they were authorifed to alTure lives, and 

 lilfo to affiire houfes and goods from fire, and were empow- 

 ered to raife a farther capital of 500,000!. maJciiig, with the 

 former fum, two millions. It wai alfo enacted, that, in 

 conlequeiice of the company hiiving paid into the exchequer 

 1 1 1,250!. and h.iving covenanted to pay the farther fum of 

 38,750!. within three months, they ftiould be relcafed from 

 payment of the remainder of the 300,000!. The whole 



capIt^l of z,ooo,oool. was fubfcribed, but !t wa§ thought 

 neccflary to call for the payment of only 500,000!.; whicl), 

 after paying the 150,000 to govcrnrtent, Iiad been found 

 fufficient for carrying on the extenfive concerns of the com- 

 pany. A new Ixanch was added to their bufintfs, by an 

 act, obtained in 1793, enabhng them to grant and purchafc 

 annuities on lives, either immediate or in reverfion ; and, in 

 iRoi, the company obtained an atl for afluring vcflTeli 

 and their cargoes on canals and inland navigations, in whicli 

 aft the I^ondon Aflurance company are hkewifc included. 



The dividend to the proprietors, which lias gradually in- 

 crealcd from 3 to 7! per cent, becomes due at Chrillmas and 

 Midfummer, and is ufuaily paid about the 15th January and 

 July. £At Midfummer 1802, an cccufional dividend wa» 

 made in ftock, being 10!. five per cents, 1797, for every 

 100!. of the company's ilock.J The transfer-days are 

 Tuefdays and Thurfdays, between the hours of eleven and 

 one. The dividends are paid on Mondays, Wedncfdays, 

 Fridays, and Saturdays, from ten to two. 



The TABLE of RATES of the ROYAL EXCHANGE ASSURANCE ANNUITY COMPANY. 



Scptemhcr 15th, 1802. 



N. B. The foregoing Annuities are receivable in Quarterly Payments. 



