"Suetonius conjectures," Mr Montefiore writes on the first page of the book, "that the Emperor Claudius was the original projector of insurances on ships 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 Association, 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.