The Daily spy. [volume] (Worcester [Mass.]) 1845-1850, 1849-12-31
Worcester Mutual Fire Insurance Co

Worcester Mutual Fire Insurance Co.
Fire Insurance Company held Dec 2 l849 the following
officers elected:
President did 1reasurer-FRED. WIN. PAINE.
Observation-Disclosures ToRREy, Fitchburgi
PAUL within, Northbridge;
JOHN w. LINCOLN, Worcester;
AMoRY HOLMAN, Bolton;
ALANsoN HAMILTON, West BroOkfeld;
JAMES S. WooDwoRTH Worcester;
WIN. I. MERR1FIELD Worcester;
DAVID Lee Barre
The following abstract of the Reports made the meet
ing ordered to be published:
The amount at risk, Dec lst 1919, 49, 1870, 379
The number of policies outstanding is 072S. The
Company sustained the past year. nine total, and eleven
partial losses amounting $l3 300 g. which have been
adjusted with the exception of one of twenty-five dollars
The dividends expired policies have ranged, during the
year, from n to S35 per cent The cash funds of the
Company, Dec. l. 1919, amounted to S123, ~,
which is invested in Bank Stock and Mortgages Real
Estate.
Were not for misrepresentation in regard this office,
the Directors would here close their annual report ndleave
to the public to judge from the foregoing statement of facts
III which Office insurance is safest and cheapes but justice
to themselves and to the public, cOmpes them correct
the false representations of Irresponsible tnerant PERSONS
who have no interest in this any office beyond the fees
paid for policies and in some instances per centage on
the premium money received.
There five mutual Offices in successful operation
in the County of Worcester ready to insure all kinds of
property on fair and equitable terms The Manufacturers
Office insures cotton and wooden factories and kindred risks
the Merchants and Farmers the Peoples and the Fitch
burg Offices insure stock in trade and most kinds of build
ngs including nearly all those which, after experience of
twenty-five years. declined by this Office, account of
the great of their risks of safe character
In all these offices pays than it actually
to protect his property and foreign office insure it
for any thing less The only inequality of insurance is in
the classification of the risks The hazardous kinds
of property should be insured with those which
the least so; that is farmers buildings should be in
sred in the class with factory; because
rate of premium be fixed that will operate equally
When property is udciously classified the ought
not to object to paying what insure it, While the
Directors upon the public the advantages of nsurng
every kind of property which the Company take in the
old Worcester Mutual Office, they discam all intention
interfering with the of other insurance companies
any farther than recommending to the inhabitants of the
County OF Worcester to patronage Offices located in their
midst in preference to those at a distance.
1t will be SEEM by the foregoing statement that the cash
funds OF the Company amount upwards of l23500 and
that the monthly dividends expired policies averag-
ed OVER the past year. The Directors
have decided to issue policies for any length of time from
| ONE to SEVEN YEARS; and conine their risks as
heretofore, to the County Of Worcester Notwithstanding
the tng efforts of travelling agents secure risks for
other Offices the of business done by this Company
the past year, is much than that of any preceding
year; evidence that the public satisfied it is safer
insure in an Office whose risks confined
borhood than in where they hazardous and
| are scattered over all the adjoining States
FRED. VIM. PAINE, President.
ANTHONY CHASE, Secretary.
Worcester, Dec 26, l649. DIV