Maryland free press., 1867-04-11
Mutual Insurance Company.

day for tho election Of delegates to State con-
vention.
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Mutual Insurance Company.
%S- We took occasion last wee k,,bre1y to.sllude
TO the eunwarrantable assault made upon the Mutu-
al Insurance Company by the Herald ard Torch
The editor of that paper qgan indulging his vi
Imperative propensity, this week sends forth an
other article full OF msrepresep ptationS of facts
and figures. We shall not follow his msreEre-
sentatiors in detail. We shall content ourself
with saying, and that upon authority, that it is
not true that the surplus earnings Of the compa-
ny, in reserve amounts TO $500 Under the
charter OF The Company, until the late amend
nent, which has not vet added to that surplus,
it could not exceed the sum of $4,000. And
OF the nett earnings for the current year, because
ot extraordinary losses, nearly the whole of them
were required to pay said losses. The Herald
is equally unfortunate, or rather we should say
reckless, in its statement of the amount of the
premium notes of the company, they do not reach
us the Herald assei is, the sum offs 90, 600. The
total OF premium notes, we learn, up to the time
OF the hire OF the 9th January last, amounted
IN round numbers to the sum Of SIG, 600. Nor
is 1t pretended by any member of the prcsen t
Board, as the Herald asserts, that the cash cap
ltal can never be reached. 1t is only contended,
under the charter, that is the last of the as
sets of the company which can be appropriated
to the payment of losses. 1nd we submit to ev-
cry candid and prudent business man, that this
construction is right upon policy as well as in
law. III IS On assurance to all insurers, that, in
case the fund expected to be realized from pre-
minm notes, should become exhausted by itiga-
ton or insolvencies, they have cash capital ul-
timatey to fall upon for indemnity against losses
But we do not propose to follow the Herald
through its long tissue Of misstatements, and dis
ingenious insinuations nor do we deem such la
acler> of the company from the asper.
IA tn in1i IN al,
sions OF the Herald. The mere naming Of he MEN
who fill the presidency and direction of the COM
pany, will be its sufficient vindcation.
George Fechtg is President, jfessrs. ]. B.
Thirston. W. 7. Hamilton DR.. H. II. Harvey
EN- Nealey, ~ Barrier, JoshuaIP. Crist, H. K
house, Fred Bryan, and David Brumbaugh are
its Directors. Ifs more intelligent, competent
honest, and responsible Board can be selected for
the management of the affairs of the company
from the body Of the county, we would like to
have the Ierald point them out.
But we must not overlook one other gross per-
version OF the truth on the part of the Xerad.
1t says:--"There is but one voice, and one opin =.
ion among the members upon this subject, and
that is unqualified condemnation" - = To give
tue lie to tins assertion, we have simply TO state
that we have learned upon inquiry at the office
OF the company, that its members are coming
forward generally and promptly and paying
their assessments.
Ia regard to the mode and principle upon
which the assessment is made, so much carped
at by the grumbler Of the herald, we have 10 say,
that after looking at the charter and making in
9uiry upon the subject, we are satisfied, that it
is as close to the letter of the charter as practi-
cable, and as fairsand equitable to the members
OF the company, as an assessment could be made
In word, though recent insurer, 80 well sat-
ished were we with it, that we paid our asscss-
nent, at once and would advise all others to 90
and do likewise, Notwithstanding the earning
and grumbling of the Herald
rs we intlmated in our last we greatly fear
that something other than supposed irregulari-
" OF the Board in making the areSsment, un-
deres the ostensible object of'the Herald in its
attacks. We are strongly inclined to suspect.
and we caution the members of the company ac-
cordlngly, that this is recusctation of an efcrt
made lew years ago. and signally defeated, and
which, we are informed, came from the same d-
rectlon, in view of the approaching annual elec-
uon TO raise aEe side issues to get up an excite
ment, tnrotgh which to odst The present Board,
ana gratliy, as well the pique as an itching de-
sire OF of some persons, to take their places. We
would hint: a word to the wise is sufficient
And: we earnestly admonish the members of the
company to keep their wits about them, and
watch well the "Greeks" whep they app proach
them rs friends.
Nothing certainly could be more detrimental
to allow it to be brought into the "prize
ring OF partznnism. This has been heretofore
attempted, but failed bee lus, of the good sense
Of its members, fully approaching the injury 10
the company of the consummaton of such a
purpose. Peter Negley suggests he would vote
for twelve democrats Ah Peter sweet Peter
wouldn't you like 10 get up a division amongst
democrats, even in corporation election
As to resisting the pay ment of the assessment,
suggested by tbe Herald, as we before remarked
we learn that the members have been paving un
well; and this we esteem o mrch wiser course,
than bringing the company igto litigation and
wasting its accumulated earnings in costs and
council fees, and thus weakening it by impairng
the confidence Of the community in its ability
and ready capacity TO pay losses. We must
not overlook the fact; that all its members be-
long to one household, and that their interests in
the company are identical and SO blended, that
what inures to the advantage of one member,
equally snures TO the advan'a &c of ano ther; and
that O loss to one falls with proportionate
weight upon another. In fine every ltigant
against the company, is itigant against him.
self and would occupy the agreeable pre-
dcament Of spending his own money on both
sides of the litigation. We repeat, aword to the
wise ought to be sufficient.
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