Jenks's Portland gazette. [volume] (Portland [Me.]) 1799-1802, 1800-06-02
Asgaebgeas Mutual Fire E.jarGuss Company.

a IL inftitutions deferve patronage
4 n from the public in proportion TO their uiefaI-
neis The MalIachuletts Mutaal Fire Inlurance Com
Pany Is conildered by many coming under this de-
nomination il being incorporated for the benevolent
Purpoie OF guarding aocatcs again lofes of build
Ings ~ IRE, whether the fame hosd happen by acci
dent, lightning civil cOmmotion, foreign nvafon,
the PRECEDENT and Directors therefore, have thought
proper 10 lay before the public, its principles and gen
era rate q is funds, to induce all perlons owning
houies or other buildings within the Commonwealth
70 become Members Of the fame, and avail ;hemlelvcs
OF rs advantages. by mutual infurance we bear one
anothers burthcns The ol luRaned By one falls on
the company; whereas individuals, heretofore, were
Obliged, IN cafe Of lois by fire. apply their partcu-
lar friends, and 10 the benevoencc Of the public for
sihitance but in The Preient cafe opportunity pre-
tents OF having their property iecured upon the only
JuH priR pics OF inlurance by Gazing into the funds
Of the iooety mite equai to the hazard only and
more CONGREGATIONS arc generalymore alarming and
tar more diarclhng mankind than lodcs at ea and
the realon IS obvious In the former cafe little
ProVhou has been made in this country for the pro-
lection OF property R cafe Of fare whereas in the latter
Il IS almoR universal Under this confederation, it is
to be hoped, that thac focietes who have been eab
hlhed tor NE purpofr of charging their uefunefs
wards mankind, as well as thofc gentlemen, who have
bees in the habit Of fung policies for the generous
debgn Of iniuring buildings will 70 far extend their
candor towards this Company fuppofe that their
motives of pecuniary confederation are 70 much
attao ed to the FINAL gain the difference Of the pre-
MUM as 10 add another inGaon, aad confer another
opportunity the citizens Of this Commonwealth for
fecurity and Happiness.
The rates of premium are from IS
70 IS cents on hundred dollars, governed by the
judgment Of the TruRees. which depends on the mate
rals Of which the houfe is built the manner of occu-
plying it, and the relative ftuatlon of the fame
other Buildings
Although the Policies are idued for
even years, i operates for any lefs time provGon
IS made. that when tie property injured haH be
alIenaod by death, fale by any other means, the
ahnred may furrender his policy the Office, and re-
eeiVe fun not exceeding his depoGt money,
The fees arifing from the policies,
transfers. endorlemcnts forfeits and inereR accrung
hereon, will in the whole time (in all probability pay
the expence Of Office; in which cafe nothing can be
taken from the funds, but abloiute lo1es by FIRE If
fortunately no lOs happens the property with nteret
reverts back 70 rhe perior who paid il (excePt his
proportion OF the reerved funds) as the whole funds
OF The company, placed in the funded Cocks Of the
United States; the nteref Of which is received quar-
tery, put into principal, and accumulate much be-
yond compound ntereh.
The calculations arc made upon the
whole number Of buildings, confirmed by Gre in BQfa,
tor the the of forty years pah taken from the
and Of courfe il includes the great fire Of 100 from
which and companion with lhe naitutions Of the
fame nature in England Ygiais NtuorE &c It clearly
appears that the funds adequate vpport the lois
OF more than fifteen houles annually, Of 1909 dollars
value each But, in order to make each individual Of
the company, entirely atis6ed ofhis indemnity in cafe
OF o(s by very great>connagr provisn is made
that each member 1sal be aaefTed fun Gn proper
tion> to make good fuch lof, but not in any event
to exceed tive dollars for one paid premium and de-
oft.
1t is now thirteen months fnce the
rifqnes commenced. without any ofs whatever There
is $40 600 cellars injured in the CiTice one 6fh
Of which is in the country. The fund, are already
Respectable and increaGng rapidly.
~ order sf t5t P,1fisat and Diyaso,s,
Andrew Cunningham, Sec'ry.
zesy'.'rstts 11aual Fire TgJaraace 0Eec,
~. IS, Stats,Gyss. B3feu
Meret-. ftm-oa)
49,