Jenks's Portland gazette. [volume] (Portland [Me.]) 1799-1802, 1800-04-07
MaDaebgjstts Mutual Fire
M/urance Combauy.

II ~ AAiiueulioio dSiCise patronage
L \ from he public in proportion TO their uieful.
neis. The Manachuetts Mutual Fire Iniarance CON-
pany il eonidcrsd by many as coming under this de.
nomination II being incorporated for the benevolent
purpoe OF guarding Its aociatcs againf loes of build
ings 10y fire. whether the fame ihould happn by acc-
dent, lightning, civil eommoton, or foreign invalion
the Prefdent and Directors therefore, have thought
proper to lay before the public principles and gem
eral aa,e of i" funds, to induce all perions owning
houes or other buildings within the Commonwealth.
10 become Members OF the fame, and avail hemelves
Of ts advantages BY mutual infurance we bear one
.sothers buthens. The lofs fuained by one falls on
the company; whereas individuals heretofore were
Obliged IN cafe OF ol' BY fire, to apply to their particu
lar friends and to the benevolence of the public for
sitance but in the prefent cafe an opportunity pre-
tents OF having their property fecured upon the only
JUL prneplcs OF inursnce, by eating into the funds
oil the beety mite equal to the hazard only, and
more. Conhaeratons are generaymore aar ming and
far diilreiog mankind than loes fes and
tthe rcaon obvious. In the former cafe Little or no
provion has been made in this country for the pro.
eeton of property ia cafe of fire. whereas in the atser
~ 10 almoR unverfal Uoder this confederation, it is
Ito be hoped, that thoe fociscs. who have been eab.
hsd for The Purpofs of enlargne their uefuneis to.
wards mankind, well as thoe gentlemen, who have
been in the habit of iuing policies for the generou.
de6gn OF niuring buildings will 70 far extend their
candor towards this Company fuppofe that their
motives of pccunary confederation are not 70 much
attached the final gain in the difference of the pre-
MUM to add another initution and confer another
opportunity the citizens of this Commonwealth for
ecurity and happineis.
The rates OF premium are from az
to IS cents hundred dollars, governed by the
Judgment Of the Truitees which depends on the mate
rails OF which the houe is built the of occu-
lpyin2 it, and the relative ituatlon Of the fame a. to
other buildings.
| Although the Policies are inued for
feven years. operates for any LET'S time as provion
lis made, that when the pr operty injured fhll be
aienafed by death, ale, or by any other means, the
aiured may iurrender his policy the office, and re-
ceivs fun aot exceeding his depoit money.
The fees ariiing from the policies,
transfers, endorsements, forlets and nere accruna
thereon, WILL in the whole time lin all probability pay
the eIpence OF Office; in which cafe nothing can be
taken from the funds, but ablo!ute loIcs by fire. If
fortunately no los happens the property with nteret
reverts back to the perion who paid (excePt bis
proportion Of the reerved fuuds) as the whole fund.
of the company placed in the funded Rocks of he
United States; the ntcref Of which is received quar-.
terly, put into principal and accumuates much be-
yond compound ntcref
The calculations are made upon the
whole number Of buildings, confirmed by fire in BoGos
for the the term of forty years pa, taken from the
records of the Hiorcal Society," commencing in $50
and Of courfe il includes the great fire of i76o from
which, and ccniparilon with the inflitutons of the
fame nature in Eriand Virginia, Nsreywt, &c. it clearly
appears that the funds adequate ipport the LOFT
of more than hxteen houfes annually, Of 1000 dollar,
valuc each. But, in order make each individual Of
the company entirely fatsed Of his indemnity in cafe
of lofs by very great eonaagraon provihou is made
that each member fhail be aGefed fun lin proper
ltion) make good fuch lois but in any event
to exceed two doan for ono, paid premium and de-
lpoit.
1t is now thirteen months fincc the
rfques commenced, without any lois whatever. There
is gao COO collars injured in the Otice FIFTH
Of which is in the country. The funds arc already
reipccablc aud nersains rapidly
b. 0,d~ 81 fbs Pr9iffat and Dir~7sr,.
Andrew Cunningham, See'ry.
| Ms6sebgist, Mr'url Fp. kjarsscs 05Fa,
| No IS, Sfafsys,a, Bsqsr.
MSre5 J. t3m--oo)