The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1870-11-05

: have desired an opportunity to become
members. To such an extent has this
feeling in favor of restricting the operation:
OF the Company, at times, prevailed, that
at the annual meetiag, in 1868, resolution
was introduced and passed instructing the
officers to take no further risks on property
beyond the limits of Cecil county.
Although this resolution was adopted by
a small majority of five out of but nineteen
members present and voting it was rigidly
adhered to for the entire year following
But the impolicy of that action became so
glazing, that at the next annual meeting,
1864, it was unanimously rescinded. The
mischief, however, had been done to some
extent.
A widespread interest in the subject OF
insurance which did not previously exist,
had been awakened in all the lower coun
ties of the Eastern Shore by the operations
of the Cecil Company, and a large field
was thus opened for an increase of it's bust
ness. But the people of those counties
finding themselves, by the action of the
annual meeting, in 1868, thus suddenly
deprived of the opportunity of obtaining
further insurance in company which they
evidently preferred above all others, were
necessitated to turn their attention to
other means of insuring; and it so hap
pened that new company organized at
Dover, Delaware, stood ready to enter the
I field, and a large number of applications
| took that direction; while the citizens of
/ Somerset and Worcester counties. suppos-
| ing the drohibition in Cecil would con-
tinue, took steps to form a company of
their own, and having commenced that ell
| terpise, prosecuted it with success. Since
the organization Of that company, some
residing in those two counties, influenced
by very natural desire to sustain their
own local enterprise, have withdrawn from
| the Cecil Company, surrendering policies
and cancelling premium notes, on which
the annual payments amounted to over
seven hundred dollars, while further extern
sion of the business of that Company was
more or less interfered with
! The popularity of the Cecil Company in
those counties, however, was such that a
large majority of the members remained,
| and within the last five years 1874 new
policies have been issued on property in
| those two counties, including those parts
which now form the new county of
Wicomico, the premium notes on which
amount to so, G3S.53, and the annual pre-
MUM paymen: to 81, 1880.
The reasons urged for the restrictive
action Of the lnual meeting of 1868, were
the amount of losses sustained outside of
Cecil county, exceeding at the time the
premium interest received from other
counties by several thousand dollars; and
the fact that the losses thus sustained, and
the extra assessments required to meet
them, had indeed members here in our
own county to withdraw.
These were plausible reasons and Sc
cured for the rrohibitory action of the an
nual meeting Of 1868, not a few advocates
for a short time. But patience, a little re-
Election and a more perfect understanding
of the philosophy of insurance, could not
fail to counterfeit them; and accordingly,
when a similar attempt to restrict the oper-
ations to Cecil county was made at the
annual meeting for 1866, it was promptly
rejected.
Co q ra
the causes which produce losses by fire,
that no locality can safely calculate on ex
emption, and no human foresight can de-
vine where the calamity will next fall
The controlling argument in favor Of the
restrictive resolution of 1868, as has already
been observed, was the fact that the losses
in other counties exceeded the receipts from
| them. \ change, to some extent, has
taken place in that respect. The receipts
from other counties since 1868 have
amounted to $50, 717.36, and the losses to
1924, GAG. 10; showingan excess of receipts
over the losses of $14, 1901. During the
same time the receipts from Cecil have
amounted to $40. 66001, and the losses to
$50, 624 %. showing an excess of receipts
over losses of but ST., 035S2, from which it
will be seen that the proportion of losses
since 1868 has been greater in Cecil than
in all the other counties: and when it is
remembered that of the expenses during
the same time amounting to little over
S13. 900, over and above the 81, 200 paid to
the General Government for Internal Reve-
nue. taxes, at least ninety five cents out Of
every dollar, has been disbursed in Cecil
county, operations of the Companybe-
yond the limits of Cecil county can scarcely
be regarded as disastrous to the interests
of the Cecil members, in whose hands the
whole management of the affairs of the
Company necessarily rests.
Experience has shown that all efforts de-
signed to localize the enterprise of insur-
ance companies, or to limit them to any
particular territory, are unwise.
In Mutual companies, where each men,
Der is himself an underwater to his fellow
member the concentration of operations
increases individual responsibility, which,
under different policy, would be diffused
over broader surface and be thereby pro-
portionately lessened. But little reflection
is needed to convince any one open to con-
vction, that when a local calamity falls on
us. there is wisdom in having secured the
aid of others, distant from, and unaffected
by the calamity, in repairing the damage.
While this is true, it is equally true and
worthy of remark, that any and all legisla-
ton calculated to prevent the introduction
of foreign underwriters, is founded in mis-
| taken policy. AS a matter of revenue
taxes, levied on agents of, and premiums
paid to such companies, may be found ne
cessary, and for that reason be tolerated. But
any prohibitory action, the effect of which
is to confine property holders to one or a
limited number of companies in their eff
forts to secure protection against loss by fire,
will, in the end, inevitably prove disastrous
to the company or companies designed to
be favored, and unjust TO property holders
who should be left to their individual right
| ! 4l,o;,