Other offices of insurance on goods either deduct at least 3 _per cent._ out of each claim for defraying charges, _&c._ or oblige the sufferers to agree to an average; which this office is so far from doing, that no person is put to any charge but that of an affidavit to prove his loss. And though it is objected against this office, that the members are liable to farther contributions, upon extraordinary losses, which is not the case in any other office that insures goods; yet this is certainly so far from being an objection against the Union Office, and a recommendation of those other offices, with such as reason justly, that this single confederation proves the excellency of the Union establishment, in making such provision for answering losses, as it is presumed, cannot be exceeded by any human contrivance. This office has paid since its first establishment in 1715 to the end of the year 1757, to sufferers by fire, the sum of 62,538_l._ 18_s._ 11_d._ ½ besides which, there have paid to porters and other necessary charges occasioned by fires upwards of 5600_l._
This office is under the management of twenty-four directors, elected by a majority of the members out of their own body, by balloting, at a general meeting in the month of September; at which time the oldest eight of the twenty-four go out, and eight others are elected in their stead in a way of constant rotation. These appoint all the other officers, and meet every Wednesday in the afternoon between the hours of three and seven, to dispatch business, and in March to ascertain the dividends and contributions for the preceding year. The directors annually chuse out of their own body by balloting, a treasurer, and two assistant treasurers; also six trustees, three of whom sign all policies; and five auditors, to examine and pass the accounts; but as this office is solely calculated for the public good, none of the directors have any advantage above the rest of the members.
There are porters and watermen, _&c._ provided by the office, who assist in removing of goods; these wearing the societies livery and badge, and having given security for their fidelity, may be trusted in case of danger. _Extracted from a copy_ _of the proposals, and an abstract of the deed of settlement received at the office in_ October 1758.