Auction Date:2012 Apr 21 @ 12:00 (UTC+01:00 : BST/CET)
Location:38 Molesworth Street, Dublin, Dublin, ., Ireland
Correspondence between The Hibernian Bank (now incorporated in the Bank of Ireland Group), Dublin, and Sun Life Assurance Society, London (now incorporated in Royal Sun Alliance Insurance Group). Pearse apparently gave his insurance policy as security for a loan of about £663 (approximately €100,000 in today's terms) from The Hibernian Bank. On 10 May, a week to the day of Pearse's execution the bank wrote to Sun Life to make a claim on the policy (this letter referred to but missing from the archive). A Sun Life actuary replied on 13 May -"inform me whether the Life Assured was identical with the PH Pearse recently shot after trial by Court Martial". On 31 May Sun Life claim "the circumstances under which [Pearse] met his death rendered...the policy void". However "desirous of dealing with the case in a liberal spirit" Sun Life offered an ex-gratia payment not exceeding the surrender value of the policy (£42.3s.0d). Hibernian Bank queried the condition under which the policy was void, and Sun Life replied there was no condition but under Common Law if the Assured is " killed in a duel, or feloniously destroys himself, or dies by the hand of the common hangman, or public executioner, the Policy is void".The bank took legal opinion from D. & T. Fitzgerald Solicitors of St. Andrew's Street - Charles Hoey and R.A. Andrews, partners - who rejected Sun Life's position. The solicitors, on 8 June 1916, suggest a compromise whereby Sun Alliance would pay out provided the money was only applied to the debt owed by Pearse. On 10 June the bank furnishes details of the debt. It is noted that the bank has the deeds of Cullenswood House (home of St. Enda's School, which Pearse founded and ran) - "The bank regard these premises as practically valueless as security. A sale was attempted some time ago but proved abortive. The alterations made by Mr Pearse, to adapt the premises for a school, render them quite unsuitable as a dwelling".Sun Life eventually - and possibly under pressure from the Bank, who would have been major brokers for the insurance company, or even exposure in the nationalist press for their niggardly behaviour over a patriot's death - to pay Hibernian Bank the "Sum Assured and Bonuses" but "not to allow any proceeds to benefit the Estate of the Life Assured". Thus Pearse's mother and family were not to receive a penny from Sun Life.After some to-ing and fro-ing in an exchange of several letters Hibernian Bank agreed, on 26 June, to repay any surplus, after recalling other securities and guarantees (including one from Pearse's mother), directly back to Sun Life. On 30 June the Bank received £329.16s.4d in settlement of the policy. Here the correspondence ends a squalid dispute between two financial institutions over the estate of the dead patriot, who, before his death, was a valued customer of both.
Auction Location:
38 Molesworth Street, Dublin, Dublin, ., Ireland
Previewing Details:
At our galleries
38 Molesworth Street
Dublin 2
Wednesday 18 April 10am to 6pm
Thursday 19 April 10am to 6pm
Friday 20 April 10am to 6pm
Saturday 21 April 9am to 11.30am
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| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
20% |
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38 Molesworth Street,
Dublin 2