The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1848-08-12
2L0O 90

'''N >o'''''''' ------------ YJDU.NO
By amt. paid to C. Brook
ings per order Of Executive
committee; his loss in full s275,oo
slo3G,a9
showing balance IN h's hand OF S99,07
| The balance due from Isaac Wilson of
Loan on Mortgage exclusive Of interest $4,000
! Tho amount Of In crest payable Of at
| TINS annual meeting Is over Ssil,15
Showing a total "frsvcnnes Of slsiose
Out Of which is 10 be paid tho loss by
the fro at Elk Landing amounting bv
the award OF the appraisers for Dwelling
& furniture consumed to sloo5,oo
Anticipated Balance Ia, the hands of
the Treasurer after payment oflosses, 1852
So that if the members are prompt in the paw
ment of their interest as they should be- and no
we have every reason to believe they will be, tn,
company will be nbnndantIy able to meet all its
liabilities. withonta resort to the dIsagrecabls al
trrnutiVe IF N asses nHnt npontre premium NOTE.
OF the members to pay the losses. This alternn.
tive, year managers desire to avoid so long as il
may be avoided, and relying upon the auticipa,ea
promptnass of the members to paw their r,'snac-
tive proportions without delay. should aaother
demand Tor loss be made upon us, they have de-
lcTillled thdt no ASSESSMENT should be made at
this meeting.
As some complaint has been made in ono sec-
ton of the county. that the fee of IS cts On each
policy allowed by by Laws to the Secretary
for receiving and entering the annual payment
Of interest. (beng the only compensation he re-
ceives as Treasurer operates uueQual!y upon tho
members, by requiring the man WHO has A smllI
amount insured. 10 pay much in this behalf
as he who has thousands, the managers respnct-
fully recommend that the BY Laws in thSrcspect
be considered and if the company deem il proper
to amend them so as to authorizes the Board :,
compensate the Secretary for hs services u.
| Treasurer, out OF III" fond created By the nav
men, OF interest. III which is respectfully sab
initltG
II. s. Sites, President.
=. a. ELLIS, Sec'y.
The report having been rea !, the ech;ert
OF increasing the MAXIMUM of insurance
upol asingle risk was considered, when on
motion Of S Fcard j, was
Resolved, That in the judgement Of this
meeting the Board nf managers mas here.
after in ,heir discretion extend the amount
Of insurance Oh a single risk from $1,000
10 5000
The question having been asked upon
WOODEN
mills Were CHASED among extraordinary risks
and excluded from insurance. after som. dis
cussIoa and examination q. the practice and
rates Of other companies, on motion Of VIM.
Togber II WAS
Resolved: That il the jud -incn' Of TIL.
meeting HE Board otnana4eG% or lh2ir TX
eCutiye Commiilec, may salcy assume mod
crate RISKS upon property ofthl, kind At such
special ra'e ot premium as they in their dis
scrs#on shall JUICE proper ~ each :ndjviI-
ual case.
Tue rate of premium upon Lumber Yards
WAS then considered, when after some dir
Gus, ion, it was
Resolved, That, the rate upon Lumber
Yards shall hereafter be six per cent.
On mo'ion. Resolved Thatthe meeting
now proceed to cIce! By ballot il Board of
uine manages to serve until the mex, auuu-
al meetlng-a and hat James Crawford, VIM
'eaoce an john A. Keith be appointed
Jud4es II the Election.
HE lia'laina lhen Proceeded, the close
Of winch tie judges reported uuher their
. nan Is and seas. as required by the act Of
Incorporation that the following gentlemen
were d1ty elected managers, for the ensuing
year.
William TorbeJ', Benedict Jones,
Saml. i. !'oard, JoIA Par ridge,
Henry S. Sites, Joseph Haine-,
Thomas Richards Henry Chamberlain,
Jacob Tome.
On fiction,
Re-olyeI Tha, the proceedings Of this
meeting AMI the annual report be publish.
cd in both the papers Of the county.
Whereupon the meeting adjourned.
II. S SITES President.
FA Ellis, See'ry.