The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1873-01-18
New Advertisements.
A STATEMENT
OF THE CONDITION OF THE
Mutual Fire ms. Co in Hartford Co.,

TNHE undersigned, members of the Executive Commit
tee respectfully report that upon examination of the
books and accounts of the Company, they find its
dition to be- the 31st day of December, 1872 is
sc. forth in the accompanying statement.
The past year has been remarkable for the great
destruction ofproperty by fire. throughout the entire
country, and will be seen, Company has in COM
mon with such institutions, suffered severely. The
amount of property destroyed and insured by its Poll
cies, will nearly reach the large sum of twenty six
thousand dollars than the losses OF 1871 and about
twenty thousand dollars than the average of the
previous annual losses Owing to the heavy demands
upon the company, il has become necessary to levy
contribution Of six per cent upon the premium notes
This, with the current interest," when paid, will permit
the company discharge all its obligations and leave
a handsome balance in its Treasury.
1t should be borne in mind that it has been the
policy of this the pioneer Mutual Fire Insurance Com
pany in this State from its commencement nearly tAir
ty years ago. TO charge the smallest rates Of premium
Geemng to be the wisest to any large
surplus of money for which the company had no imme
diae use, and which, through njudicous investment
might be totally or partially lost
other companies 1t is true, established since ours,
have pursued different course, and by charging high
rates of premium succeeded in rolling up large
plus and have therefore avoided the necessity ofevy
ing contributions, but the wisdom of drawing money
from the pockets of MEMBERS to be placed the
ury OF company when there call for it, and espe
cally when the property Of the member, under
tual system ofinsurance is already mortgaged for the
payment the note, its interest," and any contribution
which be levied is saying the least of it, question
able. Our course has been to exact from the
members than sufficient the current expenses OF
the company, ana 10 form Sucn Iunu as would
such losses would likely up to what might be
supposed fair average and anything this be
met by tribution led upon ALL in proportion
the value of the property they might have insured
what is the thing the amount ofther Civ
as a premium for said insurance This policy we
deem much the most equitable one, and would not adj
wise any departure from it.
1t may not be amiss to state that the expenses of the
company have been confined to most economical ad-
mnstraton of its affairs The President and Directors
receiving no pay for their services other than per
diem scarcely sufficient to pay their hotel bill when in
attendance upon the meetings of the Board and the
rotary and Treasurerthe officer discharging the du
ties of both salary far smaller in
amount than paid by any of the other mutual fire
surance companies in the State to the oneer performing
the same services.
This company has been in operation over a
quarter of century, and it safely assert that upon
comparison it will be found that its members have
oyed insurance against the ravages Of fire. which for
economy in the amount paid f. protection and for the
most thorough and undoubted reliability of being paid
in the loss could not have been afforded them
by any other institution in either cit. n State
JN0. CARhOLL WALSH
NELSON COOPER,
CHARLES VI. JESS0P,