The Daily spy. [volume] (Worcester [Mass.]) 1845-1850, 1849-12-29
Worcester Mutual Fire Insurance Co

AT the annual meeting of the Worcester Mutual
Fire Insurance Company held Dec H. ls49 the following
/ officers elected:
President Preside. and Treasurer-FRED. VIM PAINE
DTectorS-EBENEZER ToRREY, Ftchbnrg;
PAUL within, Northbridge
JOHN w. LINCOLN, Worcester;
AMoRY HOLMAN, Bolton;
ALANsoN HAMILTON, West Brookfeld;
JAMES S. WooDwoRTH, Worcester;
WIN. I. MERRIFIELD, Worcester;
DAVID LEE, Barre
The following abstract Of the Reports made to the meet
ing was ordered to be published:
The amount at risk, Dec LIST, 1919, $40, 1876, 1879.
Inc NUMBER OF policies now outstanding is 972S. The
company sustained the past year, nine total and eleven
partial losses, amounting to $l3309 g. which have been
adjusted with the exception Of of twenty-five dollars
The dividends on expired policies have ranged during the
year, from ~ to s34 per The net cash funds Of the
Company, Dec / ls4S, amounted to $123,544 ~,
which is invested in Bank Stock and Mortgages on Real
Estate
Were not for misrepresentation in regard to this Office
the Directors would here close their annual and leave
to the pnbc judge from the foregoing statement of facts
in which office insurance safest and cheapest but Justice
to themselves and to the public compes them 10 correct
the false of Irresponsible itinerant us
who have no interest in this any office beyond the fees
paid for policies and in instances per centaee ON
the premium money received.
There are five mutual offices in successful operation
in the County OF Worcester ready to insure all kinds of
property on fair and equitable The Manufacturers,
Office nsures cotton and wooden factories and kindred risks
the Merchants and Farmers the Peoples and the Fitch
burg Offices insure stock in trade and kinds Of build
ng including nearly all those which, after an experiences If
twenty-five years. declined by this Office on account of
dHlount OF risks OF
In all these Offices pays than actually costs
to protect his propery and no foreign office insure il
Tor any thing less The only inequality of insurance is in
the classification of the risks The hazardous kinds
property should be insured with those which are
the least SOL that is farmers buildings should mot be in
snred in the same class with cotton factory because
rate OF premium be fixed will operate equally
When property is udicousy classified the owner 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 can take in the
old Worcester Mutual Office they dsclaim all intention Of
interfering with the Of other insurance companies
any farther than recommending the inhabitants Of the
county OF worcester to patronage offices located in their
midst in preference to those at a distance
II will be seen by the foregoing statement the cash
funds OF the Company amount to upwards Of and
that the monthly dividends on expired policies averag
ed OVER EIGHTY PER CENT the past year. The Directors
have decided to issue policies for any length of time from
ONE to SEVEN YEARS; and to conflne their risks as
heretofore to the County Of Worcester Notwithstanding
the unng efforts of travelling agents secure risks
other Offices the of business done by this Company
the past year, much greater than that Of any preceding
year, an evidence that the public satisfied it safer
insure In an office whose risks confined to its neigh
borhood than in where they more hazardous and
are scattered over all the adjoining States.
sae FRED. VIM. PAINE, President.
ANTHONY CHASE, Secretary.
Worcester, Dec IS, l649 dw