The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1851-11-01
FORTH aNNT.4L REPORT, OF THE
MUTUAL FIRE INSURANCE. co,

y presenting 10 the consideration of the men,
L bers their 4,h Annual Report, the managers
have great pleasure in announcing a continual
ton OF that success which has attended the opc-
ralions ofthe company from its commencement.
The past year has been one Of more than ord-
nary prosperity. Since the last annual meeting,
we have added 10 the insured or taxable value
OF the property on our books the
sum OF Sl91,4i6.O0
And TO the premium notes on file
the sum Of 44l0.Oi
an increase greatly beyond either of the two
previous years.
These amounts if added to those re-
ported as remaining on the Books at the
date Of our last report, would however,
eXhibit an incorrect account of the pres
ent insured or taxable value, for the fol-
lowing reasons: 1t will be remembered
that in the last Annual Report, the at
tcntlon Of the members was called to the
fact. that upon number Of the original
surveys made about the time the COM
pany went into operation, no payment
had been made and no policy issued or
was accepted by the parties; and that as
these surveys and the premium notes
filed with them, remained upon the
books and entered into all The calcula-
tons and estimates of the Office, it was
desirable 10 get rid olthem. not only for
the purpose Of eXhihtinga correct state
ment OF the capital and resources of the
company; but also for the purpose of
facilitating the annual apportlonment of
unapproFrated interest. With this view
resolution was passed at the last An
nual Meeting, directing the Secretary
to give notice to all such PARTIES, that un-
less their policies We're taken oct before
this annual meeting, their surveys should
be stricken from the books. I his reso-
luton has been complied with, and the
regular notice given III every case.
1t Is also proper to State, that a num-
Der OF persons having policies with this
company upon their stocl. IN trade of
merchandise, and other personal proper
ty, have sold out or removed from the
county, without having surrendered
their policies or withdrawn their pre-
MUM notes. A PORTION Of these had
therefore been stricken oil, hut part
still remained, and it was desirable to
have the books entirely cleared OF ihrn.
For the purpose therefore Of furnish
ing correct exhibit of the affairs of the
company in this particular, the Secrr-
tary has with great care and at the cost
o! much labor to himself. taken up every
survey from No. to No. oO7. the last
one recorded; with the various additions
that have been made to different policies.
and has carefully examined al! the books
aud entries therein and from these data
has made full and correct statement Of
this branch of the business of the COM
pany from Its commencement, showing
lis exact condition at this time, which
statement is TO be recorded in o book
procured for the purpose and in which
quarterly statements are hereafter to be
recorded, subject to the inspection of
all persons interested therein.
From this statement the following alb
stract is taken.
/ Gross amount in value of the
property surveyed and recorded
/ from the commencement of the
! company up 10 this date. sl.Og2tcS1
Amount uirrcrnium notes thereon
! S2G,0i3.}3
Deduct for lnsolYrncee,
removals andaclu,l with
| drawalS S2lS56
Deduct for surveySo or which
30 policy has issued. 23,Sl7 sl5G73
/ Leaving the actual amount now On
the books subject 10 taxation. Sl.0iG7G;
ANA OF premium notes thereon 24SJl.OO
In addition 10 these amounts, there is
now filed with the Secretary, surveys
and notes for Insurance to commence
Immediately after the adjournment of
tins meeting, ufnn property the insu-
red or taxable value of which, is about
/ 100000.
ti7 gratifying TO be all" TO state that
nearly the entire amount ri the increase
for the past year is from our own county, |
thus furnishing a striking evidence of
the rapidly increasing Improvement Of
! property in the county, and an earnest
of the future prosperity and extended
usefulness Of this Institution
The statement submitted bv our 1rea-
surer, exhibits the following account off
the monetary affairs of the company.
| Debts
To Balance in hands Of Treasurer at
the date of last report. $4,000
Interest received on Mortgage Lean 5000
Interest received fom Members on
| their premium notes to this date. G.q5
$l,00.S5
Credits
By amt invested urcn judy
/ lnrnt by order Of Executive
committee $4,000
BY amt invested on note and
endorsement, by order ex
committee. 10000
BY B kruuss' bill paid. 2.75
BY T. X. \ p. &. c, llins' bill
/ for printing o15O