The Daily spy. [volume] (Worcester [Mass.]) 1845-1850, 1850-01-11
Worcester Mutual Fire Insurance Co.


AT the annual meeting of the Worcester Mutual
Fire Insurance Company held Dec r. 1s49 the following
officers were elected;
President and T'reasarer-FRED. WIN. PAINE.
D"ectofS-EBENEzE ToRREy, Fitchburg;
PAUL within, Northbridge;
JOHN w. LINCOLN Worcester;
AMoRY HOLMAN, Bolton;
ALANsoN HAMILTON, West Brookfeld;
JAMES ). WooDwoRTH, Worcester;
VIM L. MERRIFIELD, Worcester;
DAVID Lee Barre
The following abstract the Reports made to the meet
ing was ordered to be published:
me amount at risk Dec LIST, 1849, SO, 100, 379
ne NUMBER OF policies outstanding is 972S. The
Company sustained, the past year. nine total and eleven
partial losses, amounting $l33O9 Ca which have been
@ win he exception OF one OF twenty-five dollars
me dividends on expired policies have ranged during the
year. from ~ to 834 cent The net cash funds Of the
company, Dec. |, 1919, amounted to $I23, 544 IA,
which is invested in Bank Stock and Mortgages Real
Estate. 4
Were not for Misrepresentation in regard to this Office
the Directors would here close their report and leave
to the public to judge from the foregoing facts
in which office insurance safest and cheapes but Justice
to themselves, and the public compels to
he false representations of Irresponsible nerant persoGs
who have no interest in this, any office beyond fees
paid for policies, and, instances per centage on
the premium money received
There are five mutual offices in successful operation
Ill the County of Worcester ready insure ali kinds
property on fair and equitable The Manufacturers
ce sres 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
gs including nearly all those which, after experience of
twenty-five years. declined by this Office, of
the great amount of their risks of safe
In all these Offices pays than actually
to protect his property; and foreign office insure
Tor any thing less The only inequality of insurance is in
the classification of the risks. The hazardous kinds
OF property should never be insured with those which
the least sos that is farmers buildings should not be in
snred IN the same class with factory because
rate OF premium cannot be fixed that will operate equally
When property is judcously classified the ought
not TO OBJECT to paying what costs to insure it. While the
Directors urge upon the public the advantages of insuring
every KIND OF property which the Company take i'll the
Old w orcester Mutual Office, they dscam all intention of
interfering with the concerns of other companies
any farther than recommending the inhabitants of the
County OF worcester to patronze Offices located their
midst, in preference to those at a distance.
IL VIII be seen, by the foregoing statement that the cash
funds OF the Company amount upwards Of 500 and
that the monthly dividends expired policies have
ed OVER EIGHTY PER the past year. The Directors
have decided to issue policies for any length of time from
ONE to SEVEN YEARS. and TO confine their risks as
heretofore TO the County Of FORESTER Notwithstanding
the nnrng efforts of travelling agents to secure risks for
other Offices the amount of business done by this Company
the past year, is much greater than that of any preceding
year, an evidence that the public satisfied is safer to
insure in an Office whose risks confined to its own neigh
borhood than in where they hazardous and
are scattered over all the adjoining States
FRED. WIN. PAINE, President.
ANTHONY CHASE, Secretary.
| Worcester Dec 26 lS49 d,v