The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1865-09-02
Making an argregate for the vear. in,

=
Making an aggregate for the year, including
last year. bat not adjusted at last annual meet
lug, l4,91o 90. OF this aggregate Of losses
$3.50 - have been adjusted and paid leaving
unpaid balance ot----. So, ass IL
In addition to the above sum of !oS,IS9 As of
the losses OF the year paid the Board have COM
promised one Of the contested cases during the
wear: that Of McssIs. j. +. G. d W. + Allen,
by paying these parties the SUM of 81 800,
making the entire amount OF losses paid of dur
ing the year. --.---------. $3.50 A.
The report Of the committee appointed 10 ey-
anime the Books and adjust the accounts of tie
Treasurer embodies the following exhibit of the
finances oil the company:
Balance on hand at date of last
report, 1851 81
Interest and tax received during the
year. ] 500 90
Interest on Investment receYed...-. 346 S5
Total -.-.......-..-.$l SIS ,0i2 Sc
Loss adj listed and paid -.--....-.-- 1852 SO
Expenses, as per Express account
and vouchers therefore. . 1883 46
$l1, 59l "a
Balance on hand at this date. $500 So ,45I ~
The estimated amount of premium
interest to be received this year is 500 Co
Making total of.----....-.-. $17,95l 81
From which we must deduct the
losses yet to be paid amounting to 6,4S6 l2
Leaving the sum of. ----....-...- $11 ,4G5 40
to meet tie losses and expenses of the current
year, commencing this day.
The claims of Mrs H. A. Constable and Mrs.
Catherine Davis still remain in litigation but
the Board have taken measures to have an early
determination in each case.
The Board have entire confidence in the cana
city of the new table of rates to sustain the
Company, without any further resort to taxes or
extra assessments; for Notwithstanding the ex-
traordinaly losses Of the year the entire amount
OF claims against us, including the old contested
claim OF the Mossrs. Allen, will be met without
encroaching upon the receipts of the present
year, or he year commencing this day.
The propriety Of embracing within our insur-
ances certain kinds of risks that have here
toore been excluded, 1t is thought may properly
claim the attention of the new Board. 1t is
commended by persons, members of the company
who desire such change in the policy of the
Board, that the classes of properly heretofore
excluded would by paying liberal premium
bring into the Treasury a large sum OF money
annually, while the history OF the county for the
Is years we have been in existence exhibits few,
if any, and comparatively small losses of pro-
pery within the excepted risks
The philosophy OF insurance is claimed to be
the taking of all kinds of property, provided the
premium be put at d figure sufficiently high to
cover the risk
The twenty years limited in the original Act
of Incorporation being about to expire, the
Board at its meeting IN the month of March last
applied to The Legislature at its last session for
q supplement, extending the privileges OF the
Charter, and also for certain other notifications
of the charter-authorzng the adoption of some
sinlpliiied form Of issuing permits for building
and for repairing properly already insnred-and
also authorizing the investing of the funds of
the company in general Government or State of
Maryland Bonds, which was by the original
charter strangely prohibited. 1t win be proper
at this annual meeting to take into consideration
the propriety of accepting these notifications Of
the charter. ..-...
All OF which is respectfully submitted.
VIM. ToRRERT, President.
Test: F. A. ELLIS, Secretary.
After the reading of the Report by the Secre-
tary, os motion of Jacob Tome, Esq, it was