The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-02-23
SmsaranGe
STATEMENT OF THE GREAT WEST
~ ERN (MARINE) INSURANCE COMPANY, for the
fiscal ending 3lst necemher 1Sh7

u
fiscal year. ending 3ls December 1857 required by the
Charter.
Premiums on outstanding Risks
Dec 31st, 1856. ............... 1854 S34.S
Premiums from Jan. 1st to Dec.
3lst, 1857 ..................... 22l6, 767. 81
Total Marine Premiums. s2771, eo2 40
Premiums marked off earned
Tor the year. .................. 2,45l ,45l59
Interest received on Investments 43,O26O9
s2,49447 SO
Less Return Premiums, Discount
on Premiums, &c............. 359,694
Leaving net earnings of the Company So 1874 Its
Losses adjusted and paid. 81 1887 ,0SSSS
Reinsurance account paid. 059227
Expenses, including taxes on Cap
ital Stock. Observation-Disclosures. 4366OO5
- 1,471 sn 20
Leaving net profits for the year.. s668 Al So
DISTRIBUTED AS FOLLOWS.
Dividend of interest in July to
Stockholders ................ $35, 10000
Dividend of interest in January
to Stockholders. ............ 100000
Interest to Scripholders of per
cent. amount issued, to be
paid February 10. 19, $500
Reserved to cover estimated loss
es by Marine disasters and
pad DEBTS. 200,0U0.OO
Available for distribution as div
dend of net profits, say \ to
Stockholders and y to Poll
cy Holders, provided by
Charter of Company. S13, 90S.5
- 1868, AL So
THE COMPANY HAVE THE FOLLOWING ASSETS
City Bonds and Loans Bonds
and Mortgage on City prop.
erty.. ..-................. S24OOOooo
Loans on Call secured by State and
other stocks. ................ 351 ,296 Sc
Adjusted Reinsurance Claims
other Companies. ............. 5265442
Bills received, and accounts due
the Company, (auerdge maturity
2oth Aorchl .-......: 1850. 15lZ33o4
........................ 22s52e4
Cash in Banks .................. 976S976
~'' - -------- 27e s28 79
REPRESENT.
Cash Capital. ACKNOWLEDGEMENT 900 10000
Scrip of 1867. 1926, $4,000
1858, Ito be issued June
Interest ter, ao to be paid Stock and Scrip
Holders, jan list, and Feb. 10,
1903. ................,....... ,533Uo
Dividend to Stockholders to be
paid Feb. 10th, 1858. .......... 7S,477.A
Reserved to cover estimated losses
and bad debts ................ 260, 10000
Prem. on Risks not yet expired. 320'150.99
Undivided Stockholders Dividd
Fund of last year, &c.......... 2,6S6.25
--$2, 276, S2S. 7!
The amount set apart as Scrip Div
dend being %, the net profit is $685., 431.41
We recommend therefore Scrip
Dividend of Is per cent. on the
81 ,550,000, estimated as termi-
mated without loss, which will
amount to-. 232,5OOOO
Leaving an undivided balance of...... S2,931 4
There is to credit of the Stockhol
ders an undivided balance of
last years profits S1,S3413
To which carry 4 of the net
profit of this year. 7S,477l4 $S0,3ll2
We recommend, therefore, a cash dividend offs
per cent. to be paid out of this fund to Stock
holders, which will amount to....-....... SsOO0Oo
Leaving an undivided balance of s3112
To the President and Directors Of the Great Wester
(NdrineJ Insurance Company
The undersigned, Committee appointed by your bod
to examine the accounts and report upon the nancif
Company,
compared the books with the condensed statement abov
submitted and find them TO correspond accurately.
They have also examined the loans made bonds an
mortgages and on stock coaterals, and find them mo-
amply secured
made estimate of such suspended and report tn
$5S 1867, which have valued S31 $40,
| about 81 per cent. on the dollar.
We also think proper to call the attention of the Boar
of Bills Receivable, in which consid
consists the great strength of our Company they have
the average but sixty days rum the average matur
being the 10Th day of March.
We therefore recommend that the dividend on the stoc
and the the scrip, be paid according
statement submitted, and after the 10th day of Fe
ruary and that the new scrip be issued and after Jun
| LIST, to Policy holders.
All of which is respectfully submitted
JAMES Bernhard,
ADRIAN ISELIN, Committee.
II. F. SPAULDING,
On motion this report unanimously accepted, ar
i' ~ ~ % DOUGLAS ROBINSON,
Great Western Buildings, Jan. 20, 1858.
DIRE CTORS
W. C. PICKERSGILL, of W. C. Pickersgill & Co,
J. L. ASPINWALL, of Rowland Aspinwall.
| r. CALDWELL, of Robert Caldwell & Co.
JOHN ALLEN, of Hopkins Allen & Co.
VIM H. GUION, of Williams 4 Guion
| ADRIAN ISELIN, of A. Isen 4 Co.
| THOS. RICHARDSON, of I. Richardson & Co
JOHN T. BROWN, of Brown De Bossett
! JAMES W. PHILLIPS,
| A. LACHAISE, of Lachaise, Fauche & Co.
| CHAS. H. DABNEY, of Duncan Sherman & Co.
WIN LoESCHIGK, of Loeschigk, Wessendonk Co,
| GEO. GRISWOLD, JR., of y. L. X G. Griswold
| \. CHANDLER, of J. Munroe & Co. Paris.
| SAM'L d. BABC0CK, of Babcock, Bros. & Co.
! l.. H. BRIGHAM, of Brigham Il Parsons.
! CHAS. STRECKER, of Kunkemann s. Strecker.
! JAS. NJ. BROWN, of Brown Bros & Co.
| II. +. SPAULDING, of Spaulding, Vol & Fuller.
| WIN. G. LANE, of VIM. G. Lane Co.
| R0BT. SPEEDING of SPEEDING & Howe
| SAM'L BATES, of Stone x Co.
! J. B. JOHNSTON, of Boorman, Johnston & Co
| VIM. NJ EVARTS, of Butler, Evarts x Southmead
! +. LAHENS, of j. Lahens Co.
GEO BLISS of Phelps. Bliss x Co.
! JAS. I. SOUTTER, President Bank of the Republic
| G. G. SAMPSON, of Sampson K Baldwin.
| JAMES Bernhard, of Bernhard & Hutton
! FRED'K C. GERHARD, of Schuchardt x Gerhard
J. LEAYCRAFT, of Leaycraft & Co.
SAM'L. B. CALDWELL, of Brewer & Caldwell
! GEO W. JENNINGS, of Hennings, Muller & Gesling
f. L. TRENHOLM of Jno. Fraser Co., Charleston, S
| TH0S. B. CURTIS, Boston.
President.
RICHARD LATHERS.
Vice President.
JOHN A. PARKER.
I'd Vice President,
JAMES F. CON
Secretary,
DOUGLAS ROBINSON.
Great Western Buildings NosS and IS Pine street
COLIN MACKENZIE, ent in Baltimore,
Office,Cp Umercial Buildings,
f22 If Cornea ay and Lombard SITS