The Daily spy. [volume] (Worcester [Mass.]) 1845-1850, 1850-01-12
Worcester Mutual Fire insurance Co

Al the annual meeting of the Worcester Mutual
Fire Insurance Company held Dec. la l8i9 the following
officers were elected:
President and Treasure--FRED WIN. PAINE.
DTectorS-EBENE EYER ToRREV, Fitchburg;
PAUL Within, Northbridge;
JOHN w. LINCOLN, Worcester;
AMoRY HOLMAN, Bolton;
ALANsoN HAMILTON, West Brookield
JAMES S. WooDwoRTH, Worcester;
VIM L. MERRIFIELD, Worcester;
The following abstract of the Reports made to the meet
ing was ordered to be published:
The amount at risk Dec lst 1872 was So 100, 379.
me number of policies outstanding is 972s. The
company sustained the past year, nine total and eleven
partial losses amounting to $3309 a. which been
win the exception of of twenty-five dollars
Inc dividends on expired policies have ranged during
an IRON q to sSt per cent The net cash funds of the
company, Dec !, l949, amounted to $I23, 544 IL,
Estate. va ''
Were not for Misrepresentation in regard to this office
e would here close their annual report andleave
10 tne public to judge from the foregoing statement of facts
III Wc once insurance is safest and cheapest but justice
70 themselves and to the public, compes to correct
he false representations of Irresponsible tnerant persons
VINO nave no interest in this any Office beyond the
palu Tor policies, and instances per cenaqe on
the premium money received
~ Ihere are five mutual offices successful operation
in the County of Worcester ready to insure all kinds If
property on fair and equitable terms The Manufacturers
once sres cotton and factories and kindred risks
the Merchants and Farmers the Peoples and the Fitch
burg Offices insure stock trade and most kinds of build
gs including nearly all those which, after an experience of
twenty-five years, declined by this Office account of
|
In all hese Offices one pays than actually costs
to protect his propery and foreign office insure it
Tor any thing less The only inequality of insurance is in
the classification of the risks The more hazardous kinds
property should never be insured with those which are
ne least that is, farmers buildings should not be in
s'ned IN the same class with cotton factory; because
Eate OF premium cannot be fixed that will operate equally
Nhen property is judicousy classified the owner ought
not to object to paying what it, While the
Directors upon the public advantages of nsung
every kind OF property which the Company take in the
old Worcester Mutual Office they dscam 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 a distance.
1t will be seen, by the foregoing statement that the cash
funds OF the Company amount to upwards Of 500 and
mat the monthly dividends on expired policies have ayerag
ed OVER EIGHTY PER CENT the past year The Directors
nave decided to issue policies for any length of time from
ONE to SEVEN YEARS; and to coniine their risks as
heretofore to the County of Worcester Notwithstanding
the unng efforts of travelling agents to secure risks for
oer oces the amount of business done by this Company
the past much greater than of any preceding
year, an evidence that the public satisfied it is safer to
insure IN an Office whose risks confined its own neigh
borood than in where they more hazardous and
| are scattered over all the adjoining States
| FRED. WIN. PAINE, President
| ANTHONY CHASE Secretary.
Worcester, Dec 26, 1S49. dw