Washtenaw Mutual

One bnndrarl aod fifty flvn metnhprs of the Washtenaw Mutual Fire Insurance Company attended the eighth aunual meeting held in the court room, Auu Arbor, Weduesday afternuon. The president, E. E. Leiand, presided over the meeting, which was a very satisfaotory oue. The election of directors for two years resulted in the choice of John P. Spafard, Manchester (re-elected), A. R. Graves, of Ypsilanti, to socceed William Campbell, and R. C. Reeves, of Dester, to succeed Edwin Ball. J. W. Wing, H. W. Bassett and A. W. Obapmaii were re-elected as the board of auditors. The board of direotors subsequently organized by re-eleoting E E. Leiand, of Northfield, president, and Win. K. Childs, of Ann Arbor, secretary and treasurer. The annual report' of tbe seoretary and treasurer of the reoeipts, disbursements, risks, memberships, etc, for the year ending Deo. 31, 1896, as submitted to the meeting, isasfollowe: MEMBERSHIPS. 1 Numbor of mcmbers Dec. 31, of previous year --- 2,994 3 Number of members added during-the present year 168 3 Total - 3,163 i Deduct mimber of members witlidniwn during tbe year, arfd policieK ctmceled by re!t8on of sale or otherwise.. 153 5 Number of membors now bcloaging to company 3,009 6 Net gain --- In RISKS. 1 Amount of propcrty at risk Dec. 81. of previous year ...$ 5,284,820 00 2 Amount o( risks added during present year 243,845 00 3 Total 5,528,465 00 4 Deduct risks eaneeled, withdrawn or term inated 295,820 00 5 Net aniount dow at risk by Company - 5,232.645 00 6 Net loss.... 51,975 00 RESOURCES. 1 Cash on haod $ 8 86 2 Assessments of past year unoollected 253 07 'S Nature and amount of all other resources, the capital stock of the company upon which assessments are made 5,232,615 00 4 Total available resources 5.232,906 92 IjIABILITIES. 1 For losses due and payable - 50 00 2 For losses not matüred (estimated) 2,200 00 3 Due or to become due for borrowed money . 2,425 00 4 Nature and amount of all other claims, printing, stamped envelopes, orders, etc 75 00 5 Total liabllities $ 4,7 0 00 RKCEIPTS. 1 Cash colleeted on assessments levied durin;.' the year $ 15,175 12 2 Cash colleeted on aesesments levied ín prior years 101 4Í) 3 Cash from borrowed money, COtnpany's notesV... 12,182 53 4 Cash trom increased or deoreased insurauce 486 78 6 Cash income from all other sourees-- 14 70 (i Total cash receipts 28,310 G2 7 Add cash balaoee at cJose preeeding year ._. 150 60 8 Total receipts .$ 28ii6l 22 I DISBURSEMENTS. 1 Losses actualiy paid rlurins: the year tof which $2,482.75 occurred in prior year) S 13,404 14 2 Salaries and fees paid officers and direetors (Schedule A.).. 1,112 20 3 All other disbursements, (Sehedulo B) including borrowed money and 13,746 03 4 Total expenses actualiy paid during the year $ 28,202 37 5 Cash on hand, Dec. 31, 1896 98 85 6 Balance down $ 28,361 22 SCBEDOLE A. Name of Offlceror Director to idliom paid: Amt. Wm K Childs. salary $ 500 00 E. B. Leiand, director...'. 138 40 Wm. Campbill, " 174 00 John F. Spafard, " 83 50 Edwin Rail, " 70 50 E. A. Nordman, " 98 00 Wm. E. Stockiua. " andwitness 35 80 J. V. Winjf. auditor,... 4 00 H. W. Bassett, " 4 00 A. VV. Chapman, " 4 00 Total Schedule A ... 1,112 20 SCEIEDULE B. Items of "All other Expenses." Amt. Paid 28 r'o. notes borrowed moneyS 12,912 58 " Interest on " " 453 68 " Office rent 52 00 " Postage account 114 8U ' Printing and statlonery acCuunt 38 ia " Incidental account 16 3 " Asseysmetits ï'elunded _ 52 " All other expenses 60 30 " Collectors1 commission and exchanííe 97 4o Total Schedule B $ 13 74( 0: The statement also showed that ing the past year the cumpauy has adjnsted 72 loses, aggregatiug aboat, $17,000, au asspssmeut of $3 per $1,000 being aecessary. . The assessment ueeded last year was f2.30 per $1,000. The present membersnip is 3,009, a net gain of 15. The uet ainouut of risks is $5, 232,645. This is a net loss of 151,975. The oompaoy is in a flunrishiug condition in spite of the tact that the losses of the past year were greater than for years