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Fire Insurance

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Parent Issue
Public Domain
OCR Text

Iheannual meeting of the Washtenaw Mutual Fire Insurance Company wasealled to order on Wednesday morning in the court house. Considerable dissatisfuction was ex.pressed because of the large assessmént, and many expressed the idea that more stringent measures should bc adopted relative to holding risks ; also as regards the dilatory manner in which assessments were paid in ; and it was the sense of the meeting that the by-lawa voiding a person's polio; for non-payment of' Msewmenta, as provided, bc ïnaintained. Itappearing that Merritt l'erry,who had allowod his policy to lapse b}T non payment ut' assossment within thirty days after it was made, and then caoie in and paid it and presented a claim of $13.84 against tlic oompany, which the directors under legal advice paid, efforts were made to pass a resolution condemning the board for tlicir action, hut this failed. The meeting then adjourned to meet in the court room at ono o'clock, P. M. AFTERNOON. In the afternoon a vory large nuuiber were in attendance. Upon calling the meeting to order, Mr. J. D. Baldwin presented resolutions which, as amended, were passed, as follows: Wiiemsas, The recent losses of this company having been $15,500, all of which have prooecded from fires occurring within the flrst eight months of 1879, and Wiikhkas, liy the statement of' our secretary threc-fourths of this loss can be traoed directly to unsafe chimneys and detective stove pipes in dweliing-houses ; ihi'icfbre Resolved, That this company request our boud of directors to make such additional liy Iíiwm H shall require all who are insurod in lliis fouipany (first to make eveiy part of their houses accessible, so that when an cxaminatiou is mode evcry room and garret which a cnimney or stove-pipe passes may be scen ; and isecond) tbal the insumí shall be required to i lean his (■hiinney thoroughly twice evert ye ir, once in the spring muí once in the fall, and remove all soot i'rom liis chimneys. The secretary thon reud the foDowing annual statement for the yc:ir ending December 31 st, 18711: MI'MHERSIIIP. Numbor of mcinbcrs of prcvlous yeftr !!'''" js'uniiicr tdded daring presen) j ear 181 Total 2,i)ü( Nuraber wlthdnuvn diiriiiK tin1 yeaf ï Number ol memben dow in oonipany., BISK8. ProDerty tnsmred previeras year KiNks uJdfd durm preseol }i;u 346,U10 Total Amouni ui risk-, oanceled Net amount now lusured by comp'y Í1.07U.710 RESOURCES. Cash premiums on hand (29 32 AssesmnontH Datatandlng. not cancelod i, Total resources ] LiAnn.n i Due Joseph Colllns- loss Dne Flrsl National lianl; Due iiiiii-i-i .- TotaHlabllltles f1481 10 INCOME. Cash premiums reoelyed -_' 86 AsM'ssinciits ii'vicd present year i Assussments levled prevlous year I Pollcy fees iju z Percentage on lnoreaaed ordeoreased Insurance Income from otliervouroes Balance December 81, 1S7S Total tSSfiU 11 BXPBNllTllKK8. Losses pald (180.3ö of previous y'rs) il I Halarles pald otllcers ; All otaer expeudltures Total expenses $10.515 70 Amouut of Interest paid darlngyear Amount of all aweumeuta made durlngyear j The rate per cent. of Énnfirnmnntn pald on properly Insuivd 0033 Estirnaied expenseja (r the enjtulng yc:ir per $i.'khi ,,i capital Btock n The company j.ayrs two -tliird-i of the actual loss sustained by the iolicy holdcrs. Total amount paid officer.". $1,098,54; al! other expenses, $928.08. OÏTrOERi. The followingdireotors were then el for the ensuing year: AUen rritienden, II. M. Mowry, E. A. Nordman, J. J. Robison, N. Sheldon.