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

act of Incorporation aud Of the notice there
IN required! the annual meeting Of the
members olihis company assembled at the
Court House in Elktcn on Saturday HE 5h
OF August, instant, being the first Saturday
of The month";
AT O'Clock P. ii. the meeting oreani-
zed and The Secretary read The following re
port.
ANNUAL REPORT OF THE MUTUAL
FIRE INSURANCE COMPANY OF CE
ClLCOUNTY
FOR 1913.
In obedience 10 the requirements ofthe
10Th section of The act OF Incorporation. the
President OIL behalf { he Board Of M.nauers.
usmits 10 the consideration olthe membcrs
;le following as their first ANIMAL report.
This Institution went into operation on
he 2dh day of April 1917 The period
affixed by the az. of incorporation Tor The
A"Hu'l Meeting aflhe company, to wit, the
FIST Saturday in Au.us, occurred. in the
yeh lF47 81 shortly after the comm eneene, I
Of operations hal it was deemed un1ec..-
-ary t. submit a report Al that meeting, he
published statements OF TIE S.rfpN r. having
onlshed all the desired IN formation M 10
nat lime.
IN submitting this as tIcir first annual
report the managers have great pleasure in
comgratu!a,ing the members generally upon
The success which they have met with IN
tier efforts 70 establish wilhm our own com
y a permanent aud well organized iRstim.
tor, Tor mu ual projection aoaius. losses by
tire. notwithstanding the .discomaging cir
cunstnnCeS under which these efforts were
commenced.
The fact hat large proportion Of the
valuable property Of the county
was previously Insured in other
institutions, the owners being general
ly unwilling to abandon the protection aft
ordcd them in old established com puie+ tor
the purpose oItakmg part IN what was deem
ed AT he time mere exp '!imeut, aud va
rlous other difficulties which usually attend
tue origin OF institutions of the kind, pa,ric.
ularIy where the principles upon which
they are founded are not thoroughly unde,-
stood, combined 20 render Their ahar4 in
tie outset for while dscouraoirg. but hy
dint OF perseverance, in what they consider.
ed a good cause, your managers feel IT, s'l-
fed IN expressing their opinions, 'hal lhev
have succeeded in es ab,isting pernuuevi.
sale, and well ur4HulZed COMPANY, uni.iun
every section Of tie county, and embracing
within is protection Il large part OF he yal-
liable property therein, 50 that many who
withheld ther aid in It's infancy, are. now
glad 10 avail themselves OF the protection
which It's maturity affords.
Ii Is source OF gIealIegret 10 Your Board
of managers 10 be obliged to ilGorr you.
that we have been so unfortunate within The
past year as 10 sustain the loss ol two dwell
lngs and part OF their contents, to wi; these
OF Alr. Chaii"s Bruokipgs in the upper pan
Of tie county, and the house ofWillam l!o
hngs" OtIl a, Ell Landing, the aggregate
loss amounting to near fifteen hundred
dollars. Il gives u pleasure however 10
assure you that )c credit and stability OF the
company SO far from being impaired there
by, have been absolutely enhanced BY ad
dl'ion al and iuc> eascd applications for mem
bersh!p and insurance..
The insured value of the property low
catered upon the books OF the company
amounts 10 lie aggregate sun Of S62N,G27
4
in the hands othe Secretary is $ll ,029, H..
These amounts would have been greatly
increased had tie Secretary been authorized
10 reeve all the property offered. hu' by
adhesion 10 the determination formed in the
GA set.o take no extraordinary risks, and to
insure no Single risk above $1,000, a large
amount OF property has been excluded,
which would otherwise have formed par;
OF the capnal, but might greatly have in
creased the liabilities d the company THe
managers respectfully urIe The proHric'y
OF ahaerlng to the policy OF assuming 80 *
naord.uary risks, such as ,Furlace-, Forces,
Cotton and Wooden Factories, Pap Mills
&c, al least for some time 10 conc tul the
eXpedIency Of increasing single risk
from $1,000, to $1,000 may in the Judge
ment of the Board be very properly con-
sldered and shoald be determined fol or
against al his annual meeting.
Although the act Of incorporation author
ICES the company to effect insurance upon
property in the counties Of Kent and lIay-
ford, and in the adjoining States of Pennsyl~
vania and Delaware, with the single eXcep
tier of one Brick dwelling in the town of
Ilavre-de- Grace, The whole Of the property
heretofore insured is located in Cecil couu-
~ and the managers would respectfully
recommend that great caution be used in
taking risks out of the county.
The account submit, ed by the Treasurer
exhibits the following abstract OF the pecu
mary affairs OF tire COMPANY
Er. F. A. Ellis Treasurer