Annual Report of the Washtenaw Mutual Fire Insurance Company for the Year Ending Dec. 31., 1902
MEMBERSHIP
Number of Members Dec. 31. 1901-- 2,980
Number of Members added in 1902-- 205
Total-- 3,185
Less Members canceled in 1902-- 169
Total Membership Dec. 31. 1902-- 3,016
Net gain-- 36
CAPITAL STOCK
Amount at Risk Dec 31, 1901-- $4,630,370,00
Amount added in 1902-- 365,495.00
Total 4,995,865.00
Less cancelled in 1902-- 268,170.00
Total Capital Stock Dec. 31, 1902-- 4,727,695.00
Net gain-- 97, 325.00
RESOURCES
To Cash on hand Dec. 31, 1902-- 549.98
To Assessments of 1902 not paid-- 40.60
Capt. Stock liable to Assessment-- 4,727,695.00
Total Resources $4,728,285.58
Resources less Capt. Stock-- 590.58
LIABILITIES
Losses adjusted not paid--
Losses not adjusted estimated (two) 350.00
Borrowed Money Co. Notes--
All other claims estimated-- 75.00
Total Liabilities $425.00
Cash on hand less liabilities-- 124.98
Losses paid which have occurred since last Assessment was ordered 1,527.45
RECEIPTS FOR 1902
Cash on hand Jan. 1. 1902-- 396.64
Cash per Assessment of 1901-- 54.28
Cash per Assessment of 1902-- 7,992.52
Insurance fees collected-- 632.18
All other incomes-- 8.00
Borrowed Money Co. Notes-- 5,000.00
Total Receipts $14,083.62
DISBURSEMENTS 1902
By Cash paid Auditors-- 12.00
By Cash paid Wm. K. Childs, Secy-- 500.00
By Cash paid John F. Spaford, Director-- 41.00
By Cash paid A. R. Graves, Director-- 194.06
By Cash paid R. C. Reeve, Director-- 57.47
By Cash paid Fred B. Braun, Director-- 43.00
By Cash paid John H. Wade, Director-- 216.00
By Cash paid G. L. Hoyt, Director-- 65.00
By Cash paid E. E. Leland, Director-- 42.00
Total paid Officers-- $1,070.53
By Cash paid Office Rent-- 52.00
By Cash paid Postage acct-- 4.45
By Cash pd. Printing and Stationery-- 38.60
By Cash paid Collectors Com. and charges-- 48.82
By Cash paid Incidental acct-- 4.45
By Cash paid all other expenses, 29.90
Total $290.61
By Cash paid (88) fire losses-- 6,550.79
By Cash paid Co. Notes Borrowed Money-- 5,500.00
By Cash paid Interest on Borrowed Money-- 111.36
By Cash paid Refunded Insurees
By Cash paid Refunded Assessments-- 10.35
Total $12,172.50
Total Disbursements $13,533.64
Total Receipts down-- 14,083.62
Total Disbursements down-- 13,533.64
Bal. cash on hand Dec. 31, 1902 $549.98
[Signed]
WM. K. CHILDS, SEC.
Subscribed and sworn to before me a Notary Public this 5th day of January, 1903.
MILDRED M. SHERK,
NOTARY PUBLIC.
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Old News
Ann Arbor Argus-Democrat