Jenks's Portland gazette. [volume] (Portland [Me.]) 1799-1802, 1800-03-24
MaDaebglstts Mutual Fire
M/uraace COMPANY.

4 \ from tho public in proportion to their uiefui-
nes The Maiachulelts Mutual Fire insurance Com-
pany IS eonliderea by many coming under this dee
nsminson II beag Incorporated for the benevolent
pnrpoe OF suxrdag aociatcs againh oIcs of build
ings by fire. whether the lame hould happen by acci-
dent, lightning civil comniotion. foreign nva6on,
tho PreGdent and Directors, therefore. have thought
proper to lay before the public its principles, and gen.
eral rate OF its funds, To induce all perlons owning
houes or other buildings within the Commonwealth
to become Member, OF the fame, and avail .hemfcvcs
Of il, advantages by mutual inlurance bear one
anohers burthtns. The lois faitancd by Que fAs on
the company; whereas individuals, heretofore, were
obliged in cafe of LOT, by FIRE, apply their part,cu-
lar friends and to the bensvolencc of the public fox
aftance bnt in .hc prefcrt cafe opportunity pre-
tents OF having their property fecured upon the only
JUN principles of infursncc, by eating into the funds
OF the foeety mite equal to the hazard osly and
more. CONGREGATIONS generallymore alarming, and
far more diitreng to mankind than loes at Tea and
the rcaon is obvious. In the former cafe little or no
provihon has been made in this country for the pro-
lection Of property ia cafe OF fire. whereas the latter
it is amol unyerfaL Uoder this confederation it 10
to be hoped that thole ocetie, who have been eftah
hed for ,he purpofe of enarging their uefunefs to-
wards mankind, as well as shoie gentlemen. who have
been In the habit Of nng policies for the generous
defgn of inurng buildings, viii 70 far extend their
candor towards this Company as to fuppoe that their
motives of pccuniary consideration are not 70 much
attached to the fmatgain the difference of the pre-
MUM to add another inution, aad confer another
opportunity the citizens of this Commonwealth for
fecurity and happiness
The rates of premium are from IS
to IS cents one hundred dollars, governed by the
ndgmen, of the Trulces which depends on the maee-
riAs of which the hons built the manner OF occu
plying it, and the relative tut Of the fame as ID
other buildings.
Although the Policies are iliued for
fcven years, il operates for any le tine provfon
is made. that when the property injured haIl be
alienaed by death, fae, or by any othec means, the
anred may furrender hi, policy the office, aud re-
ceve FUN not exceeding his dcpoit money.
The fees ariiing from the policies,
transfers. endorsements, forfes and intere accruina
thereon, WILL in the whole time lin all probability pay
the erpencc of Office; in which cafe nothing AN be
taken from the funds, but abfoute lo1es by fire. II
fortunately no ois happens, the property with interea
rcverts back TO the perion who paid Il (except biz
proportion ct the reierved funds) the whole funds
Of the company, placed in the funded ocks of the
United States the interet or which is received quar-
terIy put into principal and accumulates much be.
yond compound ntrrea
The calculations are made upon the
whole number Of buildings, confirmed by FIRE in Beas
fer the the term of forty years pan, taken from the
records OF the HorcaI Society commencing in 60.
and ofeourfe it includes the great FIRE of 100 from
which, and compatlon with the ni6tutions sf the
faue in Eneanl Yryiua Nsrpy,k &c. it clearly
appears that the funds adequate pport the lo.
of than hrcca homes anr ally, of 1000 dollar
value each. But, in order make each individual os
the company, entirely facd of his indemnity in cafe
of lois by very great eonfagranon provion is made
that each member fhal be afefIed FUN Tin proper
tony to make good luch lois bu, not in any event
to exceed two dollars for paid premium and de-
po6t.
1t is now thirteen months fince the
rifues commenced without any lofs whatever. There
is $40 600 collars injured N the Office, fifth
Of which is in the country The funds ate sireadJ
refpeeiabe and ncrsafag rapidly.
BY s,de, Of bs Pysf's1i and Ba.ss,s,
Andrew Cunningham, See'ry.
1fesietrjehs Afr'roi Fire Tsjaesaos Ofss,
Ne 49, SSfffrsai Pssm.
Mlei 7. (sm--o9)