Part 4 (2/2)

_February 13th._--Mr and Mrs Montefiore arrive in London, and on the 17th he again goes to the Stock Exchange, this being the first time for more than a year that he has done so.

_July 28th._--The deed of settlement of the Alliance Life a.s.surance Company is read to the general court. On August 4th he has the gratification of affixing his name to it. ”On the same day,” he says, evidently with much pleasure, ”I have received many applications for shares of the Imperial Continental Gas a.s.sociation.”

The diary introduces the subject of Insurance Companies by quoting the words of Suetonius.

”Suetonius conjectures,” Mr Montefiore writes on the first page of the book, ”that the Emperor Claudius was the original projector of insurances on s.h.i.+ps and merchandise.”

”The first instances of the practice recorded in modern history,” he observes, ”occur in 1560, in consequence of the extensive wool trade between England and the Netherlands; though it was probably in use before that period, and seems to have been introduced by the Jews in 1182.”

”It is treated of in the laws of Oleron, relating to sea affairs, as early as the year 1194.”

”About the period of the great fire in London, 1666, an office was established for insuring houses from fire.”

This information is probably no novelty to the reader, but my object in quoting it is to show how attentively Mr Montefiore studied every subject connected with his financial and other pursuits. We have in the College library a great variety of books bearing on insurance offices, all of which, it appears, he had at some time consulted for information.

Of both the above companies he was elected president, offices which he held to the last moment of his life. They are now numbered among the most prosperous companies in England.

His presence at the board was always a cause of the highest satisfaction, not only to the directors and shareholders, all of whom appreciated his sound judgment, cautious disposition and energy in the promotion and welfare of the company, but also to all the officers and employees of the respective offices.

In conversing with his friends on this subject, he used to say, ”When our companies prosper, I wish to see everyone employed by us, from the highest to the lowest, derive some benefit from them in proportion to the position he occupies in the office.” He also strongly advocated the promotion of harmony and friendliness among the officers of the companies, for which purpose, he used annually to give them an excellent dinner in one of the large hotels, inviting several of his personal friends to join them.

When travelling on the Continent, he invariably made a point of visiting every one of the branches of the Imperial Gas a.s.sociation, making strict enquiries on every subject connected with the operations, and inviting all the officers to his table.

I have frequently (after the year 1839) accompanied him on such occasions, and often wondered at his minute knowledge of every item entered in the books of the respective offices.

He often gave proof, in the last years of his life, of his special interest in the prosperity of these companies by the exertions he would make in signing every doc.u.ment sent down to him at Ramsgate for that purpose, even when he appeared to experience a difficulty in holding a pen.

He strongly objected to a system of giving high dividends to the shareholders. ”Let us be satisfied,” he used to say, ”with five per cent., so that we may always rest in the full enjoyment of undisturbed life on the firm rock of security,”--the emblem represented on the office seal of the Alliance.

On August the 15th of that year he received a letter from Genoa stating that his brother Abraham was getting worse, and on Sat.u.r.day, the 28th, he received the sad news of his death, which took place at Lyons whilst on his way back from Cannes.

”It was only in the month of January last,” Mr Montefiore says of his brother, ”that when his medical attendant recommended him to take a sea voyage, he agreed to go with me to Jerusalem, if I would hire a s.h.i.+p to take us there.” ”Seize, mortal,” Mr Montefiore continues, quoting the words of the poet:

”Seize the transient hour, Improve each moment as it flies; Life a short summer--man a flower; He dies, alas! how soon he dies.”

1825 (5855 A.M.).--The lessons he sets for himself this year are given in quotations from authors, the selections showing the reflex of the impressions made on his mind by current events.

The first is an Italian proverb: ”Chi parla semina, chi tace racolta,”

corresponding to the English, ”The talker sows, the silent reaps.”

Those which follow are from our own moralists:--

”A wise man will desire no more than what he may get justly, use soberly, distribute cheerfully, and live upon contentedly.”

”He that loveth a book will never want a faithful friend, a wholesome counsellor, a cheerful companion, or an effective comforter.”

”The studies afford nourishment to our youth, delight to our old age, adorn prosperity, supply a refuge in adversity, and are a constant source of pleasure at home; they are no impediment while abroad, and attend us in the night season, in our travels, and in our retirement.”

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