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Insurance Meeting

Insurance Meeting image
Parent Issue
Public Domain
OCR Text

At the annual meeting of the YVashtenaw mutual insuraace company yesterday the secretary, S. Fairohild, presented the annual statement for the year ending December 81, 1881 : Number of members, 2,000; amoant of property at risk, $4,135,500; assessments on haud, $ 193.31; outstanding assessments, nol cancelled, $194.43; claims for resisted los-ss. $1,833,05. Premiums received diuiug the year, $403.39; ainount collected on assessmcnts levied the present year, $9,890.23; assessments lcvied in prior yenrs, $110.01; frofn membership or policy lees, $170.50; cash balance of previous year, $004.89; ten per cent penalty and cancelled f?es, $117.50; buraed money, $5,920; - total iucomefor the year, $17,234.28; total expendilures for the year, fl, 041.27. In the atlernoon Judge Joslio gave the court room lo "boae aad rioew of the county," as hetermed the farmers. The meeting was called lo order at half past one o'elock, llon. John .1. Hobison, of Sliaron, piesiding. After the reading of the minutes, JIr. EiobUon read a paper relative to the expense of conductiug the aflaira of theeompauy couipared wilh jirevious years. Kor the 3ve year preceeding 1870, 700 memtxsra were ftdded and for the same lime the number of uiembcrs cancelled was 793. Five years sinco 187(, number added: 752, number rf memberi cancelled 508, i guiu of 184. Five years preceding 1876 the assessintnts weru on an average $2.'J0 on each $1,000 of capital stock, per year. Five years since 1870 the assessments averaged $2.08 on each $1,000 of capital glock per year. PrevioUS to 1870 for fivc yoars 118 distinct loses were paid. For five yoars since 1876, 125 losses we. o liquidated. Five years preceding 1870 the salaries of oflïcerspaid were $8,34. 22; flve yeara since 1878 the company patd'in Balarles $1,00.3, - i 49, o an average since 1870 of $918.09 I per yen r while the average beforo 1870 ! was $1,388.04. 'l'ln; total amouut of cash expeoditaréd, iucluding assesstnenla for live yeara before 1870 was $70,049.93, wliile the total aniounl of cash expeuditttrw inclüding' ase.ssnieut for flve years smee 1876Í3 $48,11:3.0 makiug a differonce of $23,899.20, iu favor of live yeara since 1870. In the live years precediug 1870 there was $'J27,21ö lost to the capital of the coinpapy, wliilu sioce 187( there was & uet iuerease of $337,010. The followlng directora were elected: S. Fairchild, Anu Arbor;E. A. Nordman, Lima; T. B. Goodspeed, Superior: H 1). Platt, Pitlsfield; H. Bureli Manchester; auditing committee. I). M. Fiuley, 8cO;J. J, Rob ison, Sitaron; A. Campbell, Pittsfleld; committee on revising bylaw i(o 7 changiiig the liauilky of the company on personal property, E. W. Coddiugton, E. I). Lay, and ,1. J. RublgOD. The salary of the seeretary was tixcil al $000 lor the present ycar.


Old News
Ann Arbor Democrat