Annual Statement

or the ye;ir ending December 31. A. D. 1891, of tbe FINANCIAL ('0ND1TI0N AND AFFAIRS -OF THE - WASHTENAW tal Fire Insurance Cosnu;, jocated at Ann Arbor. Michigan, Organized ouder the Laws of tlie State, Jan. lst. 1800, and doing business in the County of Washtenaw, oiiN F. SPAFAKD, President, Wm. K. Ciiilds, Sec'y and Treas., P. O. Ann Arbor, Mieh. MKMBBRSHIP. . Number of members Dec. iïl, 1890 g,9 Numberol' membcrs added in past year 148 Total down 2,567 Deduct inembcrs eancelled in past yeur 10" Numlifr of members nowbeloniingto Company 2,4W KJBK8. Amount o( property ut risk, Deo.81,189q H,"MAWI (10 . Ainuunt of risk added during pastyear 248,685 oo Total down $5,001,125 00 Deduct risk oancelled In past year 215,06! IH) Net iimount now ut risk $4,788,070 00 RBSOUROE8. . A-sp-sincnt of past year uncollected lli 2ö Caah balance on band 140 02 . Capital stock of the Coinpany . W.786.070 00 14,788,226 28 I.IABILITIKS. . For lossee adjusted and estlmated t 20 00 . l'"or stamped envelopes ordercd, printinir, etc. 30 00 Total. $ 50 00 INCOME. . From asseesment of 1891, ( Bate Í1.50 per l,i'00.00) 17,108 M . From asscssnient of 1890. 91 25 , From added and canceled Inaurauce 387 91 . From surplus from old company 682 16 . Krom liorrowed money, per company notes 3,900 00 C. From balance on baud, Jau. 1,1891 43 47 Total income Í12.21 1 :J3 EXPENDITÜBES. . Loases (37) actually paid during: the year oí which $2 OOoceurred in prior years) $6,335 3S . Salaries and i'ees paid to olficers and directora (Sehedule A) 1)47 90 . Fees retained for remitted toagsured) by agents or collectors. .. . Amount of premium or deposit uotes returned to members whose policies were discontinued or cancelled (carrled inside) _. None. . Assessment charged off as uncollectahle (carried inside). ..None. . All other expenditures 4,788 03 I. Total expenses actually paid durIngthoyear $13,071 31 SCHEDULE A. Name af OJUxr or Director tn WkomI'aUl. J W Witiar. auditor $ 4 80 'red B. Hiuiiii. auditor 4 00 í C. Heeve, auditor 4, ÍK) 3. I. Platt. director ]K 00 John Spiil'ard. director 70 40 A. '1'. Huglies, director SO 80 E K i-cía ikI, director 09 80 Mm. r Stuck Ing. director 100 00 Win. Cnrrvijell. director 15 20 Win. K. ( hilds, Sec'y & Treas., director. 500 Oo Total Sehedule A - $947 90 SCHJtDULE B. Items of "All Other Expenses." Paid notes borrowed money($600 for '90)$4,500 00 Paid interest on borrowed money 69 49 Paid incidental expense accou at 18 98 Paid postage account 29 8( Paid printing and stationary account. . 65 22 Paid collector's commiesion and exchange 48 54 Paid assessments refunded... 3 00 Paid office rent 53 00 Total Schedule n $4,788 Oi MISCELUANKOUS QÜE8TIONS. 1 How many assessments have boen made duiiDp: the year? Answer, One. 2. Whatis the amount of all the asses6ments made during the year? Í7.122.8U 8. w hat is the rate per cent of such assessments on the property insured? Answer, íl .5o per Í1.000. 4. What is the rate per cent of sueh assess ments on the premium or deposit notes? 5. What amount was re-assessed for assess ments tliat were not paid ! Answer, None. ti. Whatamountot losses are allowed to mcumúlate before an assessment is levied? Ans swer. One year. 7. Does the Company, in makliii? an assess ment. próvido theruin t'or any surplus f'und over the actual losses accrued! Answer, Yes Ií so, how much? Answer, Estimated expenses íor one year. 8. What is the aggreííate valnation of res property insured by thecompany? Answer Not looted separateíy. 9. What proportion of damaí?eor actual loss sustaíned on real properiy does the company pay? Answer, Insured amount. 10. What is the agjrregate valuation of personal property insured by the company? Answer, Not ïooted sepaately. 11. What proportion of damage or actual loss sustained on personal property does the company pay? Answer, Tn-o-thirds. State of Michigan, ) ■ -ss. Ctounty of Washtenaw. ) John P, Spafard, President, and Win. K. hilds,Si'croiary of said Company, do, and each for hmiself iloth depose and say, that they have read the forffroint; siatement, and know the contenta thereof, and that they have good reason to believe, and do believe, said statement to be true. John F. Spafard, President' Wm. K. ('hii.ds, Secretary. Sworn and ubscribed before me, at Ann Arbor 3ty. in said State and County, this :ilst day of December, A. D. 1891. Fbed ]t. Bkaun, J ustlee of the Peace, WaBhtenaw Co., Mlob.