Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1860-06-07

O1A1E MUTUAL LIFE ASoUhANNE NObaN a
NY.-This corporation held its fifteenth annual
meeting, yesterday forenoon, the president
Hon. Isaac Davis, in the chair. The report OF
the board of directors, which was read and &C
cepted, shows the following statement The
number of policies in force June ], 1859, was
1914, on which the amount at risk was 81, $685.
sos. During the past year, 1872 policies, in
volving a risk of S3l5,300, have been issued,
and 139 policies, involving a risk of S2Ol, $50,
terminated, leaving now 1869 policies, with
total of 81, 8l2,95 at risk. Ofthe policies ter
minated, Is were by the death of II assured
members, on which S15,500 were at risk; As
by limitation of contract on which 500, 100
were at risk 10 by surrender, with $50, $50 at
risk ; and SO by forfeiture from non-payment
of premiums, involving S87 800 risk
The net assets of the company, June l
1859, were S437 $50 81, S54, $50 rs have
been received during the past year for
premiums aud 1880 So for interest. The
disbursements during the year were-Losses
by death of assured members, $4,000, includ-
ing $500 unpaid last year interest in guaran.
tee capital to June l, 1860, $1,000; salaries of
officers, rent, advertising, postage, and other
incidental expenses, S4240 q commissions to
agents, s2153 present Office value paid on the
surrender of 10 policies, $3.50 80; dividends
on expired policies, $1469 SO. Total disburse.
ments S35, 342 49, Net balance of assets,
June l, 1860 SAT- ,619 20. This shows an in.
crease of funds during the year of S40,039 20.
The funds of this company, including the
guarantee capital stock, are invested as fol-
lows =
Loans in mortgage of real estate, S146 $50 90
g with personal securities lI93oO Y
- to cities and towns, H,50O w
q with bank stock collateral, 20 500 %
Bank lStockS-92 shares Central Bank &c.
2OO 40 shares City Bank $4,000, 159 shares
Quinsigamond Bank $4,000, 20 shares North
boro' Bank $1,000, 40 shares Grafton Bank
$4,000, so shares Howard Bank of Boston
$4,000, so do. Webster Bank of Boston S5275,
so do Safety Fund Bank of Boston $4,000;
total, So, 275. Public Funds, U. S. treasury
notes. $4,000; deferred premiums, $2365 40 I;
balances in hands of agents, 1858 81 cash
deposited in Quinsigamond Bank, S24, 494 81.
Total funds, S477 ,619 20,
The eleven members deceased during the
year, were all insured for life, and two of them
had also policies tor seven years. The follow
ing Board of Directors was chosen for the en-
suing year:
StoctholderS-Isaac Davis, John Brooks,
Benz. f. Haywood, Joseph Sargent, Ichabod
Washburn, Joseph A. Denny, Edwin Conant,
Henry Chapin, VIM. d. Peck, Clarendon Har.
ris, A. H. Bullock, VIM. Dickinson.
Assured Membrs--Emory Washburn, John
NJ. Earle, Alexander Dewitt, Freeman Up
ham, II. N. Bigelow, Benz. f. Thomas Ed.
ward Dickinson, F. B. Stoddard, Edward II
Payson, Chas. L. Putnam, I. w. Hammond,
James ID. Kent.
AT a subsequent meeting of the directors,
Hon. Isaac Davis was reelected president
Clarendon Harris secretary, and VIM. Dckin.
son treasurer. After the passage of resolu'
ton, complimentary to the late Hon. Otis
Adams deceased director, the meeting adj
journed