The Daily spy. [volume] (Worcester [Mass.]) 1845-1850, 1850-01-10
Worcester Mutual Fire Insurance Co

AT the annual meeting of the Worcester Mutual
FIRE insurance Company 2 lS49 the following
officers We're elected:
President and TreGsmer-FRED. WIN. PAINE.
D"ecfofS-EBENEzER ToRREY, Fitchburg;
PAUL WITHIN, Nortlbridge
JOHN w. LINCOLN Worcester;
AhoRY HOLMAN Bolton;
ALANsoN HAMILTON, West Brookfieldi
JAMES 5. WooDw0RTH, Worcesterj
VIM I. MERRIFIELD, Worcester;
Inc following abstract Of the Reports made the
ing was ordered to be published:
Inc amount at risk, Dec list, l949 $40, 1876, 379.
me number of policies outstanding is 972s. The
company sustained the past year, nine total and eleven
partial losses, amounting to $lS309 a. which have been
adjusted with the exception of one of TWENTY-FIVE dollars
ne dividends on expired policies have ranged during
year, from III to $50 per cent The net cash funds of the
Company, Dec. l, 1849, amounted to sI23,544 ~.
which is invested in Bank Stock and Mortgages on Real
Estate.
the Directors would here close their
to the public to judge, from the foregoing facts
IN winch Office insurance is safest and cheapest but justice
to themselves and to the public compels to correct
the false representations of Irresponsible neran persons
who have no interest in this any office beyond fees
paid for policies and, in instances, per cenage on
the premium money received.
eShere are five mutual Offices successful operation
III the county OF Worcester, ready to insure ALI kinds of
property on fair and equitable The Manufacturers
Office nses 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
twenty-five years. are declined by this Office on account of
In all these offices one pays than it actually
to protect his property; and foreign Office insure
Tor any thing less The only inequality of insurance
the classification of the risks The hazardous kinds
OF property should never be insured with those which are
the least so that is, farmers buildings should not be in
sred IN the same class with cotton factory; because
rate ofprenium cannot be fixed that will operate equally
when property is judicousy classified, the ought
not to object to paying what insure it, While the
Directors upon the public the advantages of surng
every kind of property which the Company take in the
old forester Mutual Office, they discaim all intention of
interfering with the concerns 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 distance
1t VIII be SEEM by the foregoing statement that the cash
funds OF the Company amount to upwards of Sl235OO and
that the monthly dividends expired policies have averag
ed OVER EIGHTY FER CENT the past year. The Directors
have decided to issue policies for any length of time from
ONE to SEVEN YEARS; and to confne their risks as
heretofore, TO he County ofWorceSter Notwithstanding
the ntirng efforts of travelling agents to secure risks for
oher Offices the amount of business done by this Company
the past year. much greater than that of any preceding
years an evidence that the public satisfied it is safer TO
insure IN an Office whose risks confined its own neigh
borhood than in where they more hazardous and
are scattered over all the adjoining States
FRED VIM PAINE, President.
ANTHONY CHASE, Secretary
Worcester, Dec 26, l949. Ell dy