davidaulloa/AmericanStories huggingface dataset:
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24

Surplus loading over expenses;.:.. s2,Soa u
The death claims have been less than three
sevenths of the sum allowed. by the tables. :,
This result will surprise persons III all tamlli-
ar with the expenses attending the organlZa-
ton and first years business OF u life company,
at least in these latter days. pernaps the same
resnlts could not now be attained IN Inc Clty
of New York. The president OF a New YORK
COMPANY, one of the Oldest life insurance men
In that city, informed me that his once rent
the first wear was $4,000, and last year slo,Uuo,
our rent is $500. He did not inform me wnaI
his clerical force cost; ours cost less man Sloo.
Favorable as the result Is, It would nave oeen
much more favorable If certain difficulties had
not arisen in our path. -
The first and chief difficulty was the dilemma
In which we were placed at the very ouCset,
by the unlocked for prompt deposit require
ment of our charter. It has been Jersey qe-
scr;hed by one of yourselves thus: "UhaoleI 70
issde policies until we nave sso,ogU, anu u Paoue
to have $50, 600 until we issue policles., from
this dilemma the company was relieved IN part
bv YOUR personal pledges, on which poruon
of the money was raised, and TIE tlrsI NaIlonaa
Bank of Charleston completes the reiiel oy an
advance of sl3. 900 on the simple oongati0n oi
the company, without security OF any KIM
except the character OF the trustees. lnls was
o manifestation OF confidence as compN~~e
ary as it was rare. ,,-
Another difficulty in our path was tne lach
of Information among assurants, as to the real
sources OF security to the policy-holders OIL a
life company. Assurants are frequently oaz.
lied with an array OF figures in the table OF
assets OF an old company, without looking 70
the corresponding table of liabilities, ana sci
dom stop 10 reflect that a man who has 6 0,00o,
and owes only $500 0 is just az solvent as one
who has 81, 200, 900, and owes $l,ooo,oeo y
true sources of security are cash premiums,
economy of management, and carefulness IN
taking risks. - r,,vod
companies, viz: companies that have q Ger
tcin amount of subscribed capital and pay, 10
stockholders a certain portion OF their surplus
generally 20 per CENT and the balance 10
policy-holders, claim to possess aavahtages
over purely mutual companies, (vlz: CON-
panies that return all the surplus to policy.
holders,) but their only advantage, II II pc
one, is that during their youth they can speno
more money than the headings In their pre-
miums justify, drawing the excess from capi
tai, which, however, has to be restored 10
capital from the pockets Of the policy-hoidersLI
and e~xtravagant habits contracted In youth
are rarely relinQuished In age. On The sno-
|ect of the security stock capital gives to policy
holders, an English authority has well said:
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24
@6psrial Notices.

E- 500, 600 IN PRIZES READER,
"A FORTUNE MAY BE YOURS FOR FIVE Doll;
LARs.-Fair, Square and Honest. Aiken Pre-
MUM Land Sale. Ninety. -four Real Estate Prizes
from $500 to s25,oo each. Five hundred ana
twenty-five Cash Prizes from SIS to s1ooseach.
Only $4,000 Shares at IS each. A Premium En-,
craving worth s. wish each share. Twenty five
dollars will secure six engravings, with IN equal
chance to all the prizes. For shares and fun
particulars, address J. Q. DERBY, General Mana
ger. Augusta, Ga. .r5,s jun6
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24
LIFE INSURANCE.
THE PoLIcY-HOLDERS, LIFE AND
TORTINE ASSURANCE COM
PANY OF THE SOUTH.
The Presidents Report TO the Board of
Trustees.

Gentlemen-As the first meeting Of the pol
lcy.holders of the company will not take place
until March, 1872, and your meeting to-day
being the first stated meeting of the board
since the close of the first fiscal year, embrac-
ng the business of eleven months and five
days, I deem it proper to submit, IN place Of
my usual quarterly report, a copy of the state
ment of the company's affairs, filed in the
Office of the Comptroller-G General of the State,
In obedience to section four of the charter Of
the company, which is hereto annexed, mark
ed A. 49,
The statement marked B., also hereto an
nexed, is made in conformity with a require
ment Of section three Of the charter. IL brings
the transactions of the company down to a,
period twenty-six days later than Statement
A., and exhibits the results of the business Of
the company on the 18th OF January, 1871,
coverlAg a full year from the date Of organiza-
ton, Ind from which It will be seen that
the gross amount Of premiums for the year
Is. .$62, 39l 10
And of interest received ........... 1858 20
---
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24

Leaving a surplus. Of. .............s 9,265 OIL
At your first stated meeting, after the or
ganization OF the company, certain salaries
were proposed for the officers, which matter,
at my suggestion, was deferred until the expe-
rience of a year Would enable you TO deter
mine the sum that could, with safety to the as
surSd, be appropriated tor that purpose, Safety,
to be assured, requires that seven thousand
dollars ($7000) OF the above surplus should De
reserved to provide for the fluctuations in the
market value OF the State securities you were
required by charter to. depoelt, within sl4ty
days Of your organization, with the eomptrol-
Ter general of the State. The remaining s2265
may, with eafety, be appropriated for the pur-
pose Of paying the officers for services render
ed during the past fiscal year-(the secretary IS
also general agent, and .is compensated oy
commissions)-but / respectfully recommend
that even this sum be applied to the purchase
of reversionary additions to their policies, or
placed to their credit Tor the payment OF future
premiums on their policies, as they may
elect.
During the current year there will be a large
percentage Of the expenses OF The last year
saved, to wit: All the expenses OF organl-
zation; all of, the medical examination fees,
and two-thirds OF The commissions paid 10
agents. The savings alone, without touching
the income from the new business Of the cur
rent year, will justify you In liking, at an 10.
creased but yet moderate rate, the salaries Oh
the officers for this year. :
Hadithe State securities maintained the mar
ket value OF last year, you could be more no-
eral to your officers, and could also give some
s.return premium" to your = policy-hoiders.
Should the securities appreciate in value, the
distribution win only have been delayed, and
the retui ns will be the larger when made.
use the words s.retnr1 premium" IN pre-
ference 70 the word 'sdiyidends," because the
use of the latter word has contributed, in a
great measure, to the erroneous Impression
received by some persons that lite assurance
premiums, BY SOM sort Of jugglery, earn more
Interest annually than any other investment
of money, whereas the ."returns," or "dlVl.
dends," ,so-called, are not the result OF Interest
onlYf but also land which is much the larger
part) OF ssthe surplus contributions" OF the as
sured, above ''what Is found to be necessary
to meet the risk undertaken Hence econo-
my OF management, lower rates OF mortanty,
and higher rates Of interest than the table
rates, increase the ''returl" and cheaper In
surance.
The plan of the company required that rigid
economy should be observed IN the manage
ment of the business to keep the expenses
within the aggregate Of the loadings In the
premiums for that purpose. This we lave
done.
Aggregate loading for ex-
penses per tables ..... SlS,IU4 ID
Expenses disbursed 800. SIP, 662 66
Commissions on premi-
ums outstanding4...... 872 Sc
Officers s~ahries-propos-
- sl5,s 800 63
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24
TIE WEATHER THIS DAY.

WASHINGTON, June %.
It is probable that a severe storm will pass
from Western Iowa to Ohio, with a lesser
storm to the southwark. Extended threaten
ing weather is probable for Saturday from
Virginia, north and eastward.
Yesterdays Weather Reports Of the
signal Service, U. S. A..
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24

ter, a notary public for the said State and coun-
ty, VIM. McBurney, president of the "Policy.
holders Life and Tontine Assurance Company
of the South" who, being duly sworn, atfirms
that the foregoing statement is correct and
true.
(Signed) WM. McBuRNEY, President.
iSigned) WIN. H. Porter,
Notary public and eX-0f1cio magistrate.
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24
THE NEWS FROM EUROPE.
M,MAHON TAXES MEASURES TO IN
SURE QUIET IN PARIS.

Martial to Convene at Fontain-
b~leau-The New French Loan-Prince
Napoleon Declines CandIdature-Com.
mune Refugees at Ma1ta-The German
.CatholicS-Mcaahon Restricts the Sole
of Petroleum and of Firearms-The
italian Parliament.
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24
PARIS, June %.

PARIS, June rs.
Fifteen thousand troops have been cent 10
Fontainebleau, were two courts martial will
convene. The courts commence their slttings
on Wednesday next. A Free Trade League
has been established at Versailles.
President Leon says the French loan will be
issued at 50 and so payable in seventeen in
stalments. Prince Napoleon declines the As
sembly candidature. Gulzot has written a
letter in favor Of Thiers's policy, and desiring
a speedy solution of the moparchical ques77
ton. ts. t,-,ft
Gambetta is in Malta with many Communist
refugees.
LONDON, June %.
Prince Bismarck announces that the Pope
disapproyes the action Of Catholics in the
Reichstag, in opposition to German unity.
PARIS June %. ).
A.decree has been published recalling fur
Laughed treasurers, assessors and collectors to
receive subscriptions to the new loan,
Immense lists of the amounts received by
French ambassadors and consuls In foreign
countries, in aid of the. victims Of the war,
have been published.
Mcmahon has issued anrorder regulating the
sale of infammables, disobedience to which
will render the offenders liable to courtmar-
tial. Dealers in ammunition and firearms are
also instructed. 57s
The French mai. service to India and China
recommences July lst.
FLORENCE, June %.
The Chamber OF, Deputies have approved a
bill reorgsRiziug the army, and are now dis
So tho ,rh1to' 90 fotv -
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24
DISASTER TO TEE INDIA COTTON
= CROP.
BOMBAY, June 81.

~ ~. BOMBAY, June 81.
Ahurrlcane has destroyed the cotton crop
OF the country around the Town of Banda, In
the. district of surat: The loss is estimated at
half a million sterling. It win take years for
the planters to recover from the blow.
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24
NEWS O NEW YORK.

NEW YORK, June Is.
Edward Moen, for forgery of railroad tickets,
was sentenced 10 five years. imprisonment. :.
The Supreme, Court denied, with costs, the
mandamus to compel Carlton. to exhibit to
L .hahan the books OF the Methodist Book Con-
Germ.
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24
THE INCOME TAX CONSTITUTIONAL.

PHILADELPHIA, June %.
In the Federal Court, Judge Strong deliver.
ed an opinion sustaining the constitulionality
OF the Income tax.
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24
Chester.

The Chester Reporter tells the following
story about s.locai rates.: 1--WE received an
iron safe last week from Baltimore. 1t weighed
one thousand pounds. The freighttro ON Balti-
more to Charlotte was eight dollars and lily
cents. The freight from, Charlotte to Chester
IA distance of forty-fve miles) was three dol
lars. This Is what they cali local rates. We
would like to be informed whether the charge
was made by measurement or by weight! An
iron safe Is certainly more easily measured
than a-bale OF cotton:!, II Chester can survive
the local freight rates of the Charlotte, Column
.bla and Augusta Railroad, and the condition
of the highways leading here, and c~ontinue>to
be q place of business, her claim to pre-eni-
nent vitality can never be disputed"
The Governor has accepted the resignation:
of Alexander Kelsey, and has expressed fls
intention to order an election for coroner and
two county commissioners for Chester, at an
early day.
ColumbIa.
There came very near being a case OF acct
dental drowning in. Congaree wednesday.
The circumstances, as we learn them, are that
Thomas Cherry, Alexander MCPHERSON, and q
the river, and took the boy over on the Lex
ington side, and left him there temporarily,
and Mcpherson SWAN back to bring the boy
over. When about halfway across, the boy
became frightened, and grasped MCPHERSON
In such manner as to cause him to sink. Chez
~ then swan out TO their aid, when the
cramp took. him, but by this time the current
had carried them down so they reached the
shore. Mcpherson has been confped. to his
bed ever since, and ran a very narrow chance.
The Frankfort (Ky:,) Yeoman has the fol-
lowing Items: -
"Rev. William E. Martin, ofColumbia,. South
Carolina, who h'solictting funds for rebuild,
ing Washington street Methodist Episcopal
Church, burned In that CITY ait the time that
General Sherman was moving northward
with the sum- In February, 1865, preached a
most Interesting discourse at the Methodist
Church in Frankfort last Sunday, and, we
are pleased to learn, received about. SIS for
the sacred object of his mission. We trust
this amount will be doubled, If not trebled, be-
Mr.. Martin leaves Frankfort.
Last Tuesday evening, Brignoli, assisted by
Mrs. Brignoll, nee MeCulloch, OF Columbia,
Sig. Ronconi, baritone buffo, and Mr.. Bosco-
vitz, pianist, gave a concert In Toronto"
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24

@s- THREE MONTHS AFTER DATE
application will be made 20 the Planters and
Mechanics, Bank for RENEWAL OF SCRIP FOB
SEVENTEEN SHARES OF STOCK standing in
name Of w.RoACH, in trust H-sMISsROoH and
WIFE, the original haviAg been lost or destroyed.
April GOD, 1871. apr241amoSt
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24
Charleston, S. O., March /, 1871.

LEntract from the Minutes OF the Board.]
% motion of VIce-PresidenL Hutchinson, the
presidents report was received Dis nforma
lion, and so much OF it as relates to the sur
plus, referred to the committee on finance;
with authority TO act.
[Estract from Minutes of the Committee on FL
nance.
Resolved, That $1,000 Of the surplus be held
as Q contingent reserve, and the remainder be
credited in equitable amounts to the officers Of
the company 1.-THE secretary excepted) for ser
vices rendered during the fiscal year 1870, to
be applied as recommended by the president.
Resolved. That the report of the president be
printed for the information of the policy-hold-
ers of the company.
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24
Total.
.$66,074 80
DISBURSEMENTS

DISBURSEMENTS.
Expenses of organization
and management, lin
Guiding travelling ex-
penses to Columbia, 8.
c., Raleigh, N. c., and
Atlanta, Ca, to pro-
cure charters,) adver-
Using, printing and /.
stationery, medical ex-
%amlnations, commits
sions to agents, rent Of
Office, licenses, salary
Of clerk, and all other
expenses, except Off
GERS salaries. ....... 81, 662 &C
Death claim paid beiIre
January 26, f87l....... 1000 90.
Death claim adjusted and
subsequently paid. 1000 90
Commissions on pre-
miums deferred and In
course Of collection. s72 Sc
Interest paid. ........... 1884 70
1880 Al
Reserve required to safe
~ reinsure all out
standing risks. ......$37,46s 81
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24
STATEMENT A.

STATEMENT A.
PoLICY-HoLDERS' LIFE n ToNT1NE ASSURANCE
COMPANY OF THE SOUTH, ORGANIZED JANUARY
26TH, 1870. OFFICE, CHARLESTON, 8. c.
William McBurney, president; ]. F. Gilmer,
yice-prlsident, resident in Georgia; E. ?. Al
exander, vice-president and aotuary; %. n.
Hutchison. vice-president, resident in North
Carolina; George E. :Bogggs, secretary.
\ Stock capital none. Business on mutual
plan. Deposited with Comptroller-General IN
State securities, $50,0l7 so.
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24
STATEMENT B.
ASSETS.

%. =
ASSETS.
State of South Carolina securities
deposited with comptroller.gene.
Bills Receivable 1858 IS
Premiums in hands of agents ..... @730 90
Premiums in course of collection, net
Deferred premiums, net value......: 1888 Sc
Office furniture. ........... 49,. 40 0&
CAST on hand LOG 81
Total assets Except future prems.) s4s,7G2 81
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24

We certify that we have examined the an:
nexed statement of the assets and liabilities Of
the Policy-hoiders' Lite and Tontine Assurance
Company OF the South, and have compared It.
with the books Of the company, and found Il
correct to the best Of our knowledge n
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24
Edgeheld.

A correspondent of the Columbia Union
gives the following az q fac-simile Of a docu-
ment put forth by q trial Justice IN Edgeaeld:
EDGFILDE, C.. g., g. c., June 10.
Mr. u. C. Mayson: s1R-Tha is a warrent in
my Office for you In fsver of Allen Smyley for
salt and battry. You will pleas com down and
ten to It or I will have to send a officer after
you. / have set next Sstterdsy TO try the
case. Yours with respect,
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24
ALL o THE STATE.
Lexington.

2, Lexington.
We are. informed, says the Dispatch, that on
and after the first Of July next, q weekly NAH
line will be put in operation from this place
to or near Mount Willing, Edgefeld County,
via Rocky Well, Drafts, Mill, Hollow Creek,
West Creek and Germanville.
Lexington County collected $l2lS poll-tax
for 1870. Number of childen between 6 and 49,
attending school, 1878.
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24

WIN. McBuRNEY, President. ].
Charleston, January &c, 1871.
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24

~JUST PUBLISHED.
m ONE VOLUME, Price, SOC
The following Medical Lectures for Gentlemen:
/. PHILOSOPHY OF MARRIAGE. '7ft
2. PREMATURE DECLINE IN MAN.
8. NERVOUS AND PHYSICAL DEBILITY.
4. DISEASES OF THE GENERAFIvE ORGANS.
s. SPERM ToRRHGA. ~. .l2ta
8. ABUSES OF THE NATURAL FUNCTIONS.
Z. TREATMENT AND asa $50:
Price 80 cents by mai. Address the author, DR.:
CURTIS, No. 9 fremont Place, Boston; Mass.
mar7-tuthslyr -,,...s .;G,S
MrSPECIAL NoTICE.--THE UNDER
SIGNED respectfully Informs his, customers and
those wishing to patroni2e him, that he To- now
prepared to take orders for GROCERIES at their
residences, having q book for the purpose. Orders
will be taken on TUESDAYS and FRDkYa, and
goods delivered to any part Of the city frse Of
charge. FRANClS 1. NNElLa,.;
j junts No. 2Ss King street.
NJ BAKERS CITRATE MAGNEsIA.
A splendid preparation. Completely supersedlng
the use OF all nsuseous purgatve Medicines. Sold
BY Druggists. inc. Q; BAKER 4 CO., Pniladel.
phia.
A full supply on hand BY DR.. e.. BaER,
feb7-tuthssmos No. lsl Meeting street.
- -
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24

FLORENCE, julie 70.
The Chamber Of, Deputies have approved a
bill r~eorgasiziug the army, and are now dis
cussng measures for the public safety.
The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-06-24

i IL IuC w 6CCtlOh u WV " ~ ~ SA~NsSN
that slhe board OF jury commissioners, once
in every year, during the month OF January,
and for the. present year within one month
after the passage of this act, shall prepare a
jury list &c.
In the 18th section it Is enacted that when
Jurors are to be drawn, the board Of jury COM
missioners shall attend at the Office OF the
clerk OF The court, and In the presence OF the
clerk Of court and the sheriff OF the county,
shall shake I'D the box, and having unlocked
said box, the said board of jury commissioners,
In the presence of the clerk and sheriff, shall
draw a number OF ballots equal to the number
of Jurors required" 1t appears from the words
OF The act that the jury list must be prepared
and the Jurors drawn by the board ofjury COM
missiohers, consisting OF the jury commission.
or, the county auditor, and Inc chairman OF
the board OF county commissioners. Tue act
nowhere makes provision for q majority OF
said board 10 act, but requires the action Of the
board as q whole.
In the act of 1869, it Is provided In express
terms that q majority of the board OF county
commissioners may draw Jurors, and, In the
absence Of all the county commissioners, that
the clerk and sheriff may draw jnrors. The
act Of 1871, which IS In part the same IN Ian
guage as the act OF 1868, contains no provE
sion of this kind, and II is manifest that the
Legislature did not intend that a majority OF
| the board OF jury commissioners could act In
| drawing jurors. The absence then OF any one
of the members OF the board, or the disqualif.
| cation Of any enc from any cause, 1t seems,
| vitiates the proceedings of the board, because
1t is not the action of the board Of Jury COM
!! missioners as a whole as required by law.
The jurors In attendance have been drawn
| by the board OF jury commissioners for this
county. 1t is a fact that the jury commission.
ers Tor this county, and one OF the members of
the board who acted In the drawing OF the
Jurors has not been appointed as suell by the
| Governor and confirmed by the Senate. Net
! having been so appointed and confirmed, he
The herald. (Smyrna, Del.) 1870-1871, 1871-04-15
8 . 8 3 3 8 AAs ~ 9

TOnHE WORKING CIiASS.-We are now
prepared to furnish all classes with constant
employment at home, the whole OF the lime
or for spare moments. Business new, light
and profitable. Persons of either sex easily
eaan from soc. TO IS per evening, and pro-
portional sum bydevoting their whole time
10 the business. Boys and girls earn nearly
as much as men. Tdat all who see this no.
tice may send their address, and test the
business, we make the unparalleled offer : To
such as are not well satisfied, we will send
ST to pay for the trouble of writing. Full
particulars, a valuable sample, which will
do to commence work on, and q copy Of the
Peoples Literary C0'npdnton-one OF the larg-
lished-all sent free by mail. Reader, If you
want perma lent, profitable work, address
E. G. ALLEN & Co., Augusta, Maine.
The herald. (Smyrna, Del.) 1870-1871, 1871-04-15
DsYCmoMANcY.-Any lady or gentle

A VOID QUACKs "A victim Of early in
n discretion, causing nervous debility,
premature decay, DC, having tried in. vain
every advertised remedy, has simple
means of self-cure, which he will send free
TO his fellow-sufferers. Address j. Ii. TUT
TIE, rs Nassau ST.. Ne York.
The herald. (Smyrna, Del.) 1870-1871, 1871-04-15

made in 10 hours, without
v LIN drugs. Particulars IL cents. +.
SAGE, Cromwell, Conn.
The herald. (Smyrna, Del.) 1870-1871, 1871-04-15

E11 Enerseffe Farmers H,anfsdg from.
JJyepSSOO To $500 can be made during the idle
Mlnter months. Business pleasant and
honorable. For further particulars Of this
special chance address at once A, b. Hub
bard. Phila., Pa. ~.
az CT A WEEK paid agents, male Or,
~ female, in a new manufacturing
business at home. No capital required. ADJ
oress NOVELTY Co., Saco, Me. octS-sw
The herald. (Smyrna, Del.) 1870-1871, 1871-04-15

1OOcUsE THE "VEGETABLE1 o7O
ISZOPuImOnary BaIsam ''lO ~
The old standard remedy for Coughs, Colds;
Consumption. "Notlpin9 better" CUTLER
BROS. & Co., Boston.