New-York tribune., 1841-12-16

FREDERICK SCHUCHARDT
STEPHEN CAMBKELING.
A. X. RODGERS, PrssG,nt.
D. c. TAYLOR. Secretary.
". Il. HARRISON. Counsel
JAMES WEBB Sur,yor
OTce of the Company, No - Merchants Exchange.
or the principal story OF William and Wallets
PROSPECTUS.
Tie Directors Of the HoUsEHoLDERs' Mutual lNsUa
ANcs CoMF,SY presenting this Prospectus The pub
lie deem proper explain the peculiar features oftp
Mutual system OF Insurance AT the distinctive character
Of ths Company tsose particulars in which differs
not only from joint stock sanes but frvm other lRn-
lpa associations.
This Com eany IS only based upon hs general plas
Of mutual indemnify secured by the alton OF
num1er OF iDdsyiduas agree to each other
n2fnles. from los, by fire. and that purpose
other tssn absolutely necessary expense-but II l.
peculiar This respect that II confines seli 10 the ~
-urlnce cling house. Uaiy and the property
ally cOn;AIHed therein
On the subject ofhe general plan of Mutual Insurance.
the comparison vi that plan With insurance by JOINT
stock comp aues. mucG IuIgnt be SAID.
That suraIce generally toes cost more than Absolutely
necessary erp-nses, evident from the fact that the
busiaess profitable. joint stock companies
certain established for the benefit the sOcknoa
efs, and carry business from which they expect Il
i, rive proht paying hesyy losses. Wea lls OBJ
Ject Is provided Tor. profit begins.
Althoalh the Of the capital studiousy land
before the public, fund indemnify ing he Injured
per least Of all the stockholders. have any
idea such appropriation OF IL The profits are ex
prctrd pay for losses and the excess, the real
vi the enterprise, aad the basis OF their liberal d'I
bends.
Nov If the insured take this business their
hands. they buck this excess IL the SIX pc oil re
turned prcmns that their Insurance is obtained al
cost aHd they realize the advantages Of both Insurers
and insured.
Thus the interests OF that generous and respectable
class which cannot afcid TO own stock ~ any incorpo
rated compIny when is shut out from share IN is
l.ansg aad which pays preniiums to swell the d'v
deIds OF others are peculiarly repesoIed IN Inc 'u
system Mere constitutes claim Hot
only unity for sharc in the profits, aud
voice The man -gene"t
Tnat these proit- ar great, when promiscuons
insurance made, the large dividends OF some VI our
JONI companies bear witness. Under the Mutual
systsm these pros either divided earned,
or bong suffered accumulate form fund hcn Is IN
ve.tcG and represented by scrip, ADD which furnishes
additional against loss, aud provides the preh
uus Tor insurance. b. the interest accruus from
ITS nvestmcrt
Bur IN. chief and prominent popularity OF this Com
p.nv and that which mainly relies for the conn
dence public and for ultimate success, u the re
OF It's business by the Charter to me Insurance
of Dneiry Houses property usually centGiHeG
No similar plan II lie oeleyed, has ever ye' been
before the puDlic.
IL l. we'll known nearly all thu losses which fall
upon Insurance companies the consequence OF The
burning Of valuable storehoues and tho cosby 1erchan
it,e tncy usually The concentration OF somuch
orourrty and comparatively unprotected state ID
bcn often left az the repeated us- ceS {"
accidental burning testify, IN cases too, IN which single
bucket OF water at rs me ut nave quencheu mat "hch
no mum effort iraly eXtireuish teaches u.s. ina
or safety aud thng loss III the event OF al accd' NJ
dwelling hJus-s constantly occupied, stdbd prc-enih
reference facts, and 10 the experience ~ ever
one wl Prove that accidents dwellings. are not only
very unusual but that whenever they do happen the IN
ury Is partia they always occupied at night ano
an Immediate gives timely notice OF the dunser,and
provides Tor It's inaedi-te eXtngulshmeht
Let the householder then, whether ne be the owner or
merely the OF his DWELLING separate ms FISK IRON
those which much more HAZARDOUS by the iAsuf-
a.ce OF ms o. OF has furniture, IN snSh manner
as hail pay for it. indemnify no more than It's Just
anu equitable quota OF expense.
The a,orisning results revival Of the Mutual
tenn of insurance. III everal counties OF this STATE IN
which II has adopted the established cnaracte II
la, for years enjoyed England, aud the general sue
bolh Indemnify AID prohts when nas Marked
lis application Maine and FIRE Insurance. III our
CIV say. nothing want ne anticipation Of success io
enterprise, containing as II does tie general oenehh
Of he huut! system with the peculiar ieaHNt'oH VI 'A
Another chnrsc;er,tic Of this Company will be better
understood Nv following extract iru Il the Charter
aheh large class Of parsons, wao, as 'S'n
acting representative caafacteI, cannot A'd'
selves IN behalf principals they represent Of the
privilege OF Mutual Insurance IN any other company
s3 Il shall aad may be lawful Tor corporatlcns trn'
tees guardians executors, administrator. feceHe'' VI
the Court Chancery and othe: Puhc oHicefs ot .I'
news IN fact agree aia Corporation Tor the
Insurance of the aas property aed by Them III
trust Of their wards nDd principals or uauef '.
cure and raanagemant IN like and with the Ike
effect respect 10 the property insured as tpey '
the absolute thereof! aud every note or o'he' "
vhlsh any sucn per-on N III MAKE anu give o
.uch inurauce snail charged again't and PAID ou OF
the estate ~ the person persons ior whose oene OF
protection the insurance effected; dAd shall NOT ne co!
Iectef from aor enforced against the party making s-
gyiag The azIe personally provided tnai l. sn' DC "e
.gnated upon Inc obls that ne "as thsfeih
actilg trustee or .uarcI'p, or IN fePrc7eHtH''e
caaracter or Is receiver or oti cer aforesaid
The Company Is prepared 10 receive App"caeiou.
TO. insurance al rates mach lower than those charged
upou .Inlar risks elsewhere, ard will receive proposals
for the insurance Of Dre ling Houses, Household arm
ture Plate Family Stores Libraries, PICTURES Ststuy
Cabinet Of Minerals and 9th objects Anatomical COL
lection, sni all Household Property ordinarily Kept In
DAe!liag Houses and actually so kept ~nl't Insured
agalrs loss o. damage BY ire" Ac OF Incorporation,
Sect. H.
IN. manner Of making the is described IN The
folio wing section OF the Charter
g. Every person Who shah become member oil salo
Corporation by eecng insurance therein, shall oeisre
5e receives ais Foley deposie his Promisofy note, tor
ues sum of money a. shall be determined by the d.
recor. part rot exceeding I'VE CENT OF SAID note
shall be Immediately PAID, and the remainder OF the sad
osIte note sna be payable part the whole, al
any time Directors shall deem the nfite
r the payment by fire. AID such incIiehal
sn. be necessary for nn-acting the business
Of said Company and the Piratioa Of the terri o.
insurance. ts part of the same as 'h
paid. after deiucting losses and eIpeh 60
curing during ss'd ierr shall be reaquished aHd S
ID 20 msker thereof . .be
The sGoant the opposite referred 70 neT
above graduated, with resPSe. .ent re-
centsee paid thereon, that the I'M CHARGED
ouired snail be less than the premiums ,o,ons
aop .i-nia, risks Printed copies OF the ISe~ o,,s
ri.ks ta.ar =i,h ii. premiums hSEeot otsce If tb,
,.f,ru.,ion d..red psay obtaneo d. '~e ~ ~ al
| Com0,.- No Is Merchants E1cnanSe' oo'A dts4t
and WilIaA-styeets.