The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-02-22
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STATEMENT OF THE GREAT WEST
- ERN (MARTNEl INSURANCE COMPANY, for the
sca year, ending 3lst December 1857 required by
Charter.
Premiums outstanding Risks,
Dec 3lst, 1856. .............. 1854 81
Premiums from Jan. 1st to Dec.
Slst 1857. 2,2l6, 767 81
Total Marine Premiums s2,771, 6O2 40
Premiums marked off as earned
Tor the year NEUTRALITY-SUSPICIOUS.. 245l 45l 50
Interest received on Investments 43O2609
s2,4s4,477 50
Less Return Premiums, Discount
on Premiums, &c............ 359,6944
Leaving net earnings of the Company So 1874 $50 Is
Losses adjusted and paid. 81 ,337 ,OSS.SS
Reinsurance account paid....... 9O59227
Expenses, including taxes Cap
ital Stock .................... 4366OO5
- 1,471 ,s41 20
Leaving net profits for the year...... 1868 AL SO
DISTRIBUTED AS FOLLOWS
Dividend of interest in July to
- Stockholders. ............... S35,OOOO0
Dividend of interest in January
to Stockholders. ......... 35OOOOO
Interest to Scripholders of 6 per
cent on amount issued, to be
paid February 10. ...... l95330O
Reserved to cover estimated loss
es by Marine disasters and
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. SIS
-- $685., AL IS
THE COMPANY HAVE THE FOLLOWING ASSETS.
City Bonds and Loans on Bonds
and Mortgage on City prop
Loans on Call secured by State and 9-''''
other stocks ................. 351, 296 So
Adjusted Re Insurance Claims on
other Companies. ............. 52,65442
Bills received, and due
the Company, (dcerdge maturity
10th March .........: :........ 1,512,ss5
Uncollected Prem. and Interest
- &c... ..'.................. q, S52.64
Cash in Banks. NEUTRALITY-SUSPICIOUS.. 97,6S976
s. 276 70
Cash Capital. 81 900 10000
scrip OF 1907 ..,.....,.,........ 325 $4,000
1858, Ito be issued June
1st, 1858: ..:.............. 2s5, 43l4l
Interest to be paid Stock and Scrip
Holders, Jan. LIST, and Feb. 10,
Dividend to Stockholders to be '
paid Feb. 10TH 1855. 7S,47714
Reserved to cover estimated losses
and bad debts. ..........:..:.. 26O,OooOO
Prem. on Risks not yet expired. 32O'l5O 90
Undivided Stockholders Dvid'd
Fund of last year, &c.......... 2,6S6.25
The amount apart as Scrip Div
ldend being q, the net profit is 1926 43l Al
We recommend therefore Scrip
Dividend of Is per cent. on the
Sl,550,000 estimated termi-
mated without loss, which will
Observation-Disclosures. 232 10000
Leaving an undivided balance Off,. s298l4l
There is to credit of the Stockhol-
ders undivided balance of
last years profits. ............ 81 ,S34.13
To which we carry 4 OF the
proft of this year. 7s,47714 sso31l27
We recommend, therefore, cash dividend offs
per cent. to be paid out of this fund to Stock.
holders, which Will amount $50 900 90
Leaving undivided balance Off,. sall27
To the President and Directors of the Great Western
(NdrtneJ Insurance Company:
The undersigned, Committee appointed by your body
to examine the accounts, and report upon the financial
condition of your Company have to say that they have
compared the books with the condensed statement above
submitted, and find them to correspond accurately
They have also examined the loans made on bonds and
mortgages and on stock collaeras and find them
amply secured.
In regard to the Bills Receivable your Committee have
made estimate of such suspended report the
at $5S9667 which have valued at s31 7iO or at
about "a per cent the dollar.
We also think proper call attention of the Board
to the nature of our Bills Receivable in which consider
consists the great strength our Company they have on
the average but sixty days to the average maurtes
being the 10th day of March.
We therefore that the dividend on the stock
and the interest on the scrip, he paid according
statement submitted and after the 10th day Feb
ruary and that the scrip be issued after June
LIST, to Policy holders.
All of which is respectfully submitted.
JAMES Bernhard,
H. F. spATIDiNG, COMMITTEE
On motion this report was unanimously accepted, and
DOUGLAS ROBINSON,
Secretary
Great Western Buildings, Jan 90 1858
DIRECTORS
u
J. L. AsPINWALL, of Rowland 4 Aspinwal
K. CALDWELL, of Robert Caldwell Co.
JOHN ALLEN, of Hopkins, Allen & Co.
WM H. GUIoN, of Williams & Guion
ADRIAN lSELIN, of A. Iselin & Co.
THOS. RICHARDSON, of T. Richardson & Co
JOHN P. BROWN of Brown & De Bossett
JAMES W. PHILLIPS,
A. LACHAISE, of Lachase, Fauche & Co
CHAS. II. DABNEY, of Duncan, Sherman & Co
NM LOESCH1Gk, of Loeschigk, Wessendonk & Co.
GEO o. GR Rlf JE:, of n L. C. Griswold
n CHANDLER, of j. Munroe Co. Paris.
SAML ID. BABCOCK. of BabcOck Bros. & Co
l.. Ii. BRIGHAM, of Brigham Parsons
CHAS. STRECKER, of Kunkelmann & Strecker
JAS NJ BROWN, of Brown Bros. & Co.
WI G. LANE, of VIM. g. Lane x Co.
ROBT SPEEDING, of SPEEDING 4 Howe
SAAi'L BATES, of Stone K Co.
j. b. JOHNSTON, of Boorman, Johnston & Co.
WIN. NJ. EVARTS, of Butler, Evarts & Southmead
L. LAHENS, of j. Lahens & Co
GEO BLISS, of Phelps, Bliss & Co.
JAS. t. SOUTTER President Bank of the Republic
e. Il. SAMPSON of Sampson & Baldwin.
JAMES Bernhard, of Bernhard & Hutton.
FRED'K c. GEBHARD of Schuchardt & Gerhard
j. LEAYCRAFT of Leaycraft & Co.
SAM'L. B. CALDWELL, of Brewer & Caldwell
GEO W. JENNINGS, of Hennngs, Muller & Gesline
T. L. TRENHOLM, of Jno Fraser Co, Charleston :. C.
THoS. b, CURTIS, Boston
President
RICHARD LATHERS.
Vice President.
JOHN A. PARKER.
I'd Nice-President,
JAMES F. cox
Secretary,
DOUGLAS ROBINSON.
Great Western Buildings Nos SO and IS Pine street
COLIN MACKENZIE, Agent in Baltimore,
Office, Commercial Buildings,
IL tt Corner Gay and Lombard SITS
OFFICE OF THE SUN MUTUAL IN
" sURANCE COMPANY.