One effect of the fire, which was estimated at the time to have destroyed houses of the rental value of £600,000 a-year,(1331) was seen in the lack of pageantry which usually marked the day when the newly elected mayor proceeded to the Exchequer to be sworn. When Bludworth’s successor—Sir William Bolton—went to take the oath on the 29th October, the meanness of the appearance of the civic fathers was remarked by the on-lookers, who reflected "with pity upon the poor city ... compared with what it heretofore was."(1332) (M677) Another result was that when the day for election of members of the Common Council was approaching, the Court of Aldermen, considering how difficult it would be, if not absolutely impossible, to hold the customary wardmotes, resolved to present a Bill to Parliament for permitting the sitting members to continue in their places for the year next ensuing without any election being held.(1333) (M678) Fourteen years after the fire (_i.e._, towards the close of the year 1680) the City projected a scheme for insurance against fire, and in 1681 a deed of conveyance of city lands of the estimated value of £100,000 was executed by the City to certain trustees as security to persons effecting insurances against fire.(1334) That the municipal body of the city should undertake a business of insurance and thus compete with private enterprise gave rise to no little discontent among the "gentlemen of the insurance office" carrying on business "on the backside of the Royal Exchange," who claimed to have originated the idea.(1335) CHAPTER XXIX. (M679)