Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1873-03-13
(From the Port Tobacco Time..)
MARYLAND MUTUAL FIRE INSUR.
ANCE COMPANY OF BALTIMORE

Mn WILLS Dear .Sir,-T wish to
say few words in reference to tho above
Insurance Company. and of insurance
companies generally.
This Company started some four year.
ago. on the mutual plan. and of course
had no capital. 1t had to be built up by
policy holders. as all DO on the mutual
plan. The company solicited member.
through its agents. AMI whilst it has done
toleraby we'll. it has not done fourth pa,
of wha. it should The note capital i.
now City odd thousand dollars, when j,
should have been at least two hundred
and fifty thousand dollars. and had its op-
rera,ions been in any other part Of the
State except 10 the lower counties, it would
have been.
Now, I do not think our people fairly
understand our position with regard to in :
surnrce companies. There is not another
mutual Insurance company in the State OF
Mary land that will insure dollars worth
Of property for the citizens Of the lower
counties. Ispeak advisedly Of this mat.
ter. The Prcsideu, Of the Montgomery
County Mutual Fire Insurance Company.
the venerable Edward S:ab'cr, was soliri-
ted in person to try and induce his com
panv 10 extend their risks to Charles and
ST. Mary's counties. and he promised to
use his influence with the directors for thu 4,
purpoze. and did so. bu. they positively
refused to do it. saying that tho /compa
was large. and of course wealthy. and
could rct more risks than they wanted
nearer home
This company started just as tho Mary
land did. without dollar Of capital. and
1t has been in operation ,wenty-hv years;
has paid all It's losses and expenses. and
now has a note capital of some eight hnn-
drcd thousand dollars. and has a cash in j.
come Of some thirty FIVE or forty thousand
dollars annually. with only intercs, on the
premium notes at / per cent and until
the last two years the interes, was but 3
rer cent but. like most every company
in the United States. its losses has been
great the last few years. and it was deem
ed necessary 10 increase the interest.
am not able TO say whether this company
has ever found i, necessary in it's infancy
to assess it's premium uotes. There are
few persons in this county who were in
sured in this company many years ago.
and | do know that they have been refus-
cd any new risks on any property not
heretofore insured. So much for the Mont.
gomery.
The Baltimore County Mutual Fire In.
surance Company started some sixteen or
eighteen years ago. and sent an agen,
through the lower counties soliciting mem
beFs. and got quite large number. and
AMONG the rest, the writer ofthis. Well.
like the Maryland. it was unfortunate in
the lower counties in our own county, in
very short space Of time its losses were
very heavy, having to pay for the dwell
lings Of Mrs Grain. Mrs. Robertson, Hon.
F. Stone and the late Judge Burgess. and
there may have been others This 80
alarmed the company tha, it made a de.
duc,ion Of % per cent. on all its risks in
the lower counties. and in short time
thereafter cancelled oil its policies and
withdrew Its protection entirely from us,
which think. was q great outrage on OUT
people; bu. the company grew rich ard
did not need Us. The writer Of this ha.
several times solicited this company to in.
sure his property as special favor and
they have always refused. So much fel
the Baltimore County Company.
The Maryland Mutual Fire Insurance
Company Of Baltimore vas started exp press.
" for the benefit Of the lower counties oI
Maryland. ofheered in part by cur ows
| citizens--our county having two directors
Judge Brent and George p. jenkins
Esq, and George Coulbs, Esq, OF ST.
Marys county. being three oa, Of th,
eight directors; aud these gentlemen ar.
men Of high integrity aud business quail.
6ca,ions. and would rot be parties ID
any transaction that was not highly hon.
. ershle.