The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1858-04-20

= tAAC GOAACy 6AOAACAS = tAAO
P u B Lie.
VyHE Board of Directors present to the Policy
Holders, and to the public, the following Re
port: We feel grateful for the extent of its bust
ness, and in return. we are pleased tn be able to
announce to them the present prosperous condi-
ton of the Company. 1t might not be inappro
pirate to say at thistime that at the organization
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 o%faction, viz:
TO take money enough upOn issuing a Policy TO
pay any probable loss during its continuance, and in
at the same time a small depoSite note to pr0Uidefor
any unusual eoufagrdti0R." This rule must be ap-
parent to every business man. That in order sue
cessiully to conduct the business of an Insurance
Gompeny and promptly pay its losses, the funds
this principle of reasoning, the Directors COM
menced The business of the Company-so far it
has been proved to be u correct principle. and the
salutary rule thus established at the organization
Of the Company. remains unchanged TO this day.
By adhering to this plan
M3 3aSS III
for the payment of 1osses. or for any other pur-
and we trust, by care, prudence. and strict econ.
omy in the management of the affairs OF the Com
pauy, that no assessment WILDE necessary to be
made unless ii should happen to be a year OF ex
ira ordinary loss
We deem itproperi in presenting you our Report
of the financial conditiOnofthe Company. to give
it from its Organization in April, AL 1851. TO the
9Th of March, a. D., 1858, showing the gross
amount of expenditures. with the average per year.
in order to show you that no extravaganza, inn
prudence, or prodigality in expenditures have been
sanctioned by us. aud that our object has been to
afford to the public an Opportunityto procure safe
Insurance at moderate cost, and strictly upon the
Mutual principle. the average cost therefore has
been about one sixth fone per cent. per annum
on the gross amount insured.
FINANCIAL STATEMENT.
Whole amount OF property insured 10
March 9th; 1890
Amount of Policies expired and can
eeAed i,Voo'o.soo
Amt now at risk. March o. 1853. $ .4s7 .1o7.oO
Cash Receipts OF OFFICE.
For Cash Premiums. So, 80
For balance of Interest..."-..--.... 537. "a
Total cash receipts. S26 .II7 81.
For total amount Of profit and loss paid
For amount paid 10 Agent for 0ommis-
sions, being equal to about ten per
For salaries, Clerk hire, Directors fees,
d or eo 5sft TO- $50 81 per year. 'f"
For printing and advertising paid to
Times Office for 5 years ...-..--.--.. 1880
or an average of S65-50 per year.
For printing anil advertising to foreign
0 = &c . ,o1 Z Se az : iss IA ner yesr- 40
For Books and Stationery for the office "a 90
DOT or an s sSessse OF $40. "a per wear.
For postage and express charges for sew
or an average of S62.1e yer year.
For travelling expensesin locating asen-
cies for seven S54.14
For once fixtures, sale aud desks.... ee5.us
! For 1900
polieies 5l1e5
For tin l bells, or s69.54
agents eeureI by bonds.~..Ne-... 6ss.5O
Total amount ,ll7.67
Present Capital to Meet Losses.
Premium notes subject to assessment sol, 594.65
7.s3o.5o
Cash premiums received since 9th of
March, to 30th of March .-.......- 39s.05
| Premium notes do do 1,604S9
Total capital to meet osses..-.....S I0I .O25 90
1t will be seen that we have an amount equaf to
about seven Ter cent. on the amount insured, al
fording the amplest protection TO the Ioiey hold
ers-
Respectfully submitted by the Directors.