Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1856-07-23
CONCENTRATIONS
For the Standard.

lne DlreCtOfS Oh Tue INOTtu OuTUilLi6 MuSuoA ~'"~
Insurance Company have great pleasure in laying
before the members Of the Company the accompa.
nying statement as their seventh annual report oil
its business affairs for it will be that the Com
l,any was never in more sound or healthy condi-
ton. This the Directors persuade themselves, mas
been mainly owing to the diligence and hthiulness
with which they have supervised the interests com.
mitted to their care For example, in the sixth an.
nual report they stated in consequence of the I'M
usual and to them otherwise unaccountablt, amount
of losses on white policies, that the examinations
of the applicants for insarancs By our examining
Physicians are insufficient; that they suffer aac1
to escape their attention phich more thorough and
searching inrestigati0n scoulI receaL" According
", the Directors have insisted upon more rigid
compliance with their requirements in this particu.
lar from our examining Physicians, and the benefits
which have resulted from such course may be
learned from the facts and figures furnished by the
respective reports of the past and present years.
In the report for the annual meeting in July, 1856
it will be seen that the amount paid white poll
cies was $34 $780, whilst by the report for 1885, it
appears that We have paid only $4,000 of losses on
white policies This is very marked difference.
But to enable the members of the Company to fully
understand the benefits which have resulted from
proper diligence and care the part of our exam
lining Physicians, and, at the same time, to demon
strate the necessity of rigid observance of our
rules by them, far the welfare of the Company
is concerned it need only be stated that than
$12, 900 of the %, 900, which have been paid
count of white policies for this year, for liab
tiles incurred by deaths which had been allowed by
the Executive Committee previous to the meeting in
July, 1856, but which in fact had not been paid
the LIST Of June preceding, and, therefore, did not
enter into the report rendered for that year. By
rule of the Company all losses paid within nine
ty days from the time the loss is allowed by the Elk.
ecutive Committee and under the operation of this
rule, about half the losses paid on white policies
r. IL. Al r T... IL
for losses sustained before the annual meeting
in July, 1885, This would reduce our actual losses
on white policies, for the year ending the LIST of
June, 1856, to about $4,000. Since that time,
however, we have incurred loss on white policies
Of about $4,000; but tender of payment, before
the expiration of the ninety days, has already been
made to the holder of this policy, out of monies now
in the hands of the Treasurer, over and above the
cash assets set down in this report But, even if
this sum of $4,000 were added to the actual losses
for this year, making in all about $4,000, they
would then be less than one half of what they are
reported to be for last year; while, if we add the
$12 600 which have been paid thisyear upon account
Of losses occurring last year, actual losses on
white policies for this year will not be one third Of
what they were last year.
The Directors have been thus particular in order
to furnish practical evidence of the benefits result
ing from great care and diligence, and competency
on the part of our examining Physicians and Agents
in regard to the taking of white policies and at the
same time, for the purpose of expressing their
viction thai like benefits and advantages would fol-
low the employment of the same caution and ability
in the taking of applications for insurance on the
lives of slaves, which, must be apparent to
~ one, has become quite an important feature in
the transactions of this Company. Accordingly, the
Directors have determined for the future to ,poy
IN examining Physician in every instance where ap-
plcaton is made for the insurance Of slave life;
and it is now made the duty of Agents to call in the
services of Physician of standing and character
(but who is not to be the family Physician of the
party applying for insurance. with standing fee of
one dollar, whose duty it shall be to make thor
oush I'D searching investigation into the health Of
tn applicant and faithfully to report the result Of
his inquiries to this Board. And here the Directors
would deliberately repeat what they have SO EN-.
phaticay declared in their sixth annual report when
speaking of the insufficient examination of white
applicants, namely: that the number and the na-
ture Of tho ante'rogatories propounded to the PAys-
scians are such as to elicit all the Information need
ed, IT rightly understood and faithfully anscered."
Therefore, that there may be no msapprehension of
duty in the premises on the part of any one the Di-
rectors think it proper to make some explanatory
remarks upon the several questions they have pro-
pounded to the examining Physicians which vii! be
addressed to them at an early day in the form of
dividend OF ten per centum which, as heretofore,
has been carried to the credit of each member en-.
titled to it, and will be allowed the premium note
at the next annual renewal or, where the whole
premium has been paid in cash, the dividend will
be allowed IN cash in the next annual payment of
premium.
1hs FOLLOWING statement wiU shosc the operations and
co"d'tson q the Company for the year ending
No. of Policies in force as per last Peport. 2ass
issued tins year, 672
1890
mo. ol Cancelled and Expired this year, 652
Now in force, s,aos
RECEIPTS:
Amount on hand as per last report
June LIST 1855, s ss,754 81
OF Premium received this
year to June LIST, 1856, 6I,o2e IS
:. OF interest, 1886 90
o'erpaio Dy agents, 862 25
,a,o $l5e,sss Sc
Amount paid white losses as follows:
Ps'd William Charles, $3.50 90
Arthur 8. Aooring, 4,7O1 So
james hosseau, 1856 SO
rev. Cyrus johnson, 2,713 SO
Dr.. John R. Justice, 1900 90
A.red Wiley, 1903 SO
Deity, 2,lSO 56
Charles Fritz, 9S5 90
Henry Sedford for VIM.
Murphy. &C., 1900 90
William Thompson, $40 SO
OF premium notes allowed
on above, Oil 90
interest, l04 "A
Slars Policies:
Paid Miss Jane Williamson, 1000 M
'' Custiee & Rosette, 800 90
=" N. N. Martin & DOMAINS. 7ss m
Richd II. Battle, 1888 90
Rev. Jas. i. Munds, 1888 90