The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1858-05-05

TINE Board of Directors present to the Policy
l. Holders, and to the public, the following Re
port We feeI.grateluI for the extent OF it's ousi-
ness, and in return. we are pleased to be able to
announce to them the present prosperous coBdi-
tion of the Company. 1t might not be inappro
PIRATE to say al this time that at the organisation
OF the Ashland County Mutual Fire Insurance
Company, and previous to the commencement of
its business transactions, the Board of directors
adopted the following salutary rule Of action, viz:
..To eOnfae The risks to The suffer lind Of property
Ito take money enough upon issuing a Policy to
addition to the amount Of casa received, TO require
at the same time q small dep0site note 10 Pr0ctae for
any uRRsHaI e0Ifagratioa." This rule must be ap
parent TO every business man. Thatin order sue
c~essiully to conduct the business ofan insurance
Compsn ny and promptly pay-its losses, the funds
should be provided before the loss happens. Upon
menced The business Of the Company-so far it
has been proved to be a correct principle. and the
sanitary rule thus established at the organization
of the Company. remains unchanged to this day.
By adhering to this plan
aR1 883a332I MaaGG9ses&3}
for the payment OF losses. or for any other pur-
pose have ever been made upon the premium nores,
aud we trust. by care, prudence and strict econ
omy in tthe management OF the affairs OF the Com
pGuy, that no assessment WILDE necessary TO be
made unless it should happen to be a year otcx-
We deem itproper in presenting you our Report
of the financial condition of the Company to give
it from its organization in April, AID 1851. to the
9th of March, A. D., 1888. showing the gross
amount orexpenditures. with the averase per year.
in order to show you that no extravaganza, i'm
prudence. or prodigality in expenditures have been
sanctioned by US. aud that our object has been to
afford to the public an opportunity to procure safe
Insurance at moderate cost, and strictly upon the
Mutual principle. the average cost therefore has
been about one sixth f Que per cent. per annum
on the gross amount insured.
-EENANCTNL STATEMENTS.
Whole amount OF property insured to
March 9th. s., 4f' 81 900
Amount of Poloies expired and can
eeled i,uVo'o"s W
Amt now at risk. Marcho 1853. $ ,437, 7O7,O co
Cash Receipts OF OEFice.
For Cash S25, 5000
For balance Of 55724
Total cash receipts. 6,Il7.6I
Payments
For total amount OF profit and loss paid
For amount paid 10 agent tr commits
sions, being equal to about ten per
cent 2,5e3.6O
for Observation-Disclosures: 5.sz73s
For printing and advertising paid to
Times office for j years -..-.s....... $3.50
or an average of $3.50 per year.
For printing auI advertising to foreign
o or sH average I9G I as al s ias.II per year. .
For Books and stationery for the ohce
.or an 1 S eSeTage ofss0.ss per year.
For postage aud express cha ges for sew
or an average Of sca.ia yeryear.
For travelling Spensesinlocating agen- ,-
cies for seven yearS-.+.----..--.-- 534.F1
For or once n ssf hxtare s safe aGco aud desis.... 2a5.oe
For 1890
policies 5I1a5
For lin / bells, or signs. .........-.... s69.54
Available funds on hand and due frem
agents secured by bonds--------...- z 633-oO
Total amount SO, ll7.G7
Present CapiIaI to Meet Losses.
Premium notes subject TO assessment $9l ,59l.65
~7,6ss.5o
Cash premiums received since 9Th of
March, to 3Oth OF March .--..--.-... 392-O5
Premium notes do do l,6o+e9
r - ,a.+Iossas mi oa5 10
1t will be seen that we have-an amount equal TO
about seven er cent. on the amount insured, al
fording the amplest protection to the policy hold
ers.
Respectfully submitietby the Directors
p Riser, J-CralI, H. Luther,
Bob. Clark, TIC. BUSHNELL, Vim. Osborn.
j.O.JenniDgs, III prengle.
~oFFICERS.
P. Riser, President; J. Grail, Treasurer; L. JEFF.
Spreugie, SeeretGry.
Policies granted upon non-hazardous property
on the most favorable terms, from one TO five
years.
Apply for Insurance, to L. JEFF. s~prengle, Ash.
land. o.; Geo. w. Moore, Shelby, o.; l.. F~laitery,
Wooster, o.; J. Fl. Sanborne, Lcudonvil;e, o. u.
S. Stocking, Mansfield, o., and J S. Mason, Trav
cling Agent, aud to the Agents in all the principal
towns in Ohio. 9yl2n44