Port Tobacco times, and Charles County advertiser. (Port Tobacco, Md.) 1845-1898, 1875-02-12
bort q ooofco Gimes
Our Final Tempt inSs! I)ort Got
PORT TOBAC eco:
Friday Morning, February, IL, ,,...1S75.
ICoMMUNICATED
state of Maryland Mutual Fire Insur.
auce COmDany.

State of Maryland Mutual Fire lnsur.
ance Company.
Mr. EDITOR Il was glad to see the r marks
You made in your local columns relative to the
State of Maryland Fire Insurance Company
AS you truly and justly stated this is essential
ly home company, and it might be said that
so far as its losses go, that it is Charles
county company, as two-thrds or three-fourths
of its losses have occurred in, and have been paid
to citizens of this county, and nearly the entire
balance of its losses have occurred IN ST. Mary
county. OF course these casualties cannot be
avoided, and the company has paid promptly
all losses sustained And whilst the company
has had TO assess the premia q notes on several
occasions to meet losses, still the amount OF pre-
MUM in this company is not over halt what II Is
in any good stock company. As, for instance,
person insureS in this company property to the
amount of 81 900 he gives his premium note
for SEQ on which he has to pay per cent. per
anuum--say, 81, 60, and should the company
be unfortunate and have TO assess this note IN
excess OF interest per cent, he would then pay
on his 81 900 insured, $40; whilst, IN STOCK
companies, the usual rate is from ! 10 per
cent-averaging at least per ceut.-which
would make the premium annually on 81, oOo
Sl5 with no possibility Of abatement; and IN
very many instances the stock companies fan to
pay when losses occur, whilst this company
real estate owners which are far better than
bank or other stocks. So much for this COM
panys cheapness of premiums aud responsibi!i-
~ TO pay.
Now, as regards the expenses OF the working
of this company, no reasonable man can say 4
word against il, when we see that the report
states the entire expenses for the year 1874 i
bus 81 $50 .06 including Presidents sa'ary
clerk hire. rent OF Office, printing. stationery.
I 1 lg kN
This statement must he correct, a We have
gentlemen of too high integrity A. Directors in
this company TO suffer any false statement or
exhibits.
II will also be seen tha; policy holders are in
arrears to the company for interest and assess
ments on premium notes 10 the amount OF 81
1908 and upon which the company claims
they are Justly aud legally liable and at the
same time il claims that these deiuqucnis are
liable :or any losses the company may sustain
to the amount Of their premium notes, aud
should rhcy sustain 3 loss themselves the COM
pany claims tha, i, would no, be liable. II
such is law. think il would he wise in those
- no are in arrears TO square up the back dues
aud have their policies cancelled aud notes re-
turned, or cuniiuue their insurance. oi course
this Is a matter upon which they must act as
they see tit.
You say every policy holder should consti-
tute himself an agent TO induce his neighbor 10
insure in il. lou perfectly correct. IL IS
but joint partnership concern, in which each
man insures the property of bis neighbors, &c,
aud they get this insurance - exactly what 1t
costs, lie, that he little or mneh.
If your advice was taken have not doubt
hut in q few years this comr,s ,ssy would be in as
iiourshfng condition IS many Of It's older neigh
bors is the State, and instead of having TO pay
large premiums, We would get them for one
fourth what we now have TO pay in stock COM
panies. hope our county people will give
this matter due reflection and act accordingly
A Policy uolpER