The Cecil Whig., 1850-11-23

some three or four hundred dollars for the
reasons hereafter given.
The Managers are constrained 10 be-
ti-vr that H. the origiral organization Of
the company many persons Were induced
to become members and 10 enter their pro-
petty upon the Books for insurance who
perhaps have never rightly considered the
subject, nor their individual int rests in
MAINTAINING their position as members.
The consequence has been tha, manv of
them from lack of interest in the mat
ter have failed 10 meet their premium in
tere>ts after the first PAYMENT. and not a
few indrPd have altogether ta!rd to make
even The first payment. and obtain their
policies although they have drpositrdth~
premium notes with the security. Hrnce
there is now in 'h, hands OF the Secretary
a number af policies issued upon somr OF
the earlier surveys whic have never been
delivered, call for or accepted by the
parties. The property however still re-
naming rs originally entered on the
Books Of the Company ard their premium
notes on file with the Secretary. Again
others !'avr disposed Of their propsrtv, or
have II, the county and have failed to
transfer their policies, or to surrender
them and Withdraw their premium notes.
be eons~q urnce is that as thu estn.str
OF the annual receipt OF n'rrrs' is based
upoa tho arnoHnt Of notes on fl., the ,s'i-
mate is rover realized: the actual receipts
falling shor, from $i00 10 $3.50 IN each
year. Another consequence is hat the
Secretary caNnot with any kind al accu-
rucy pToprv apporiion The annual ex-
pehses OF the company and credit IN. un-
arproPliA ed ,nterrs', rs the acl ot incor-
pora!;on requires. II IS desirable that
this stat. 81 things n ulh not longer COM
tinue, and the Manager~ would therefore
recommend that before ths next Annual
Nee ing special notice be sent to each of
the laid several parties, and that al! such
surveys as shall not by that meeting be
properly adjusted be stricken from the
Books OF ia" company and their premluln
notes cancelled
!, IS believed that maur Of shes- parties,
" hen h; matter is thus brought to lhei,
milIds will sr>' the ;roprlrty ol an imne-
dlae adjustment, and their tue in crest
therein. With such IS do n'h property
respond TO such noILe ii wuud in lie
ju igment Of the Managers be- altogether
tn, xp-dlent to enter INTO litigation. The
weltalr and success OF the institution de
ptnds mainly upon the interest which the
members themselves feel IN It's operations
when ltiIs fails legal cnrrcisn AN c If
but little valut. II is worthy OF rrlna.k
t'a' NEST OF the survryc retained To the
office within the lasl IL inonhs or ,ao
years have been made for persons who
properly apprrcia'' their in rres ~ this
matter, a Though 1t is much So be Icgr, tied
tha many tar too many OF h" n,-mbcrs
ncghct 10 pay their interest on 'h,' day
of III" annual meeting and thus SUI !hrir
pioirrty TO S and a their own llsk until
The Iuy'nrnt is trade which IN many
cas- IA no. until months after the snnn
al meeting. Should fire. occur under
hese circun sane : The Delinquent mrm
Der would be without tenn hv; and it
a,'' he ma, be- or how strongly his case
may pIeal to the svmpathrs OF the
Board aud OF his fellow members, II IS
manll's' loss cannot b. paid; II would
be III 81 to rNtiv other member of the
company, it would d-ssIo, all the useful
ness OF he insi'u ion, al i. n.usr no. b.
expected The only truc polio, /. TOR
every member 10 mre, his paymcn.
promptly on he day OF The annual NEE,
ing.
20 DB ccHT.HyED.l