Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1879-06-20


Making total deficit of the company,
NOTE. 1t should be said that of the s1syg 10
reckoned as on assets under the head Of leash in
hands of agents, probably One-third is worthless,
consisting of old and unpaid assessments or of
funds collected and in the hands of agents who are
irresponsible, or who have left the State.
some 500 OF the receipts from assessments have
already been actually paid in on the final IS per
cent. assessment levied in December, ISIS. An ad-
dliional element of liability Will consist of the ex-
cess paid by these parties over and above such an
amount as shall finally be levied TO close up, which
excess should be refunded.
There are still some policies which were in force
December l, lsss, not yet returned 10 the COMPANY
under the notice Of cancellation issued aud should
any such cases eventually remain outstanding,
there Will be some shrnkage to the company in the
difference between the unpaid assessment to be
levied In those cases and the rebate allowed on
them.
There is also to be considered the expense of
maj closing up Of the company's affairs by proper
officer, lnasmuch as the foregoing statements repre-
sent ITS standing At this time, and contemplate a
prompt and vigorous settlement.
On the other hand there should he an und0ubted
saving in the early settlement of the item of
S3,O5s-00 of unahiusted losses. as these figures
represent the whole amount claimed by the as
sured.
The 25 per cent final assessment a. levied in Dec
ember, ISIS, would raise rs shown by the COM
panys books. the sum of S4,Osl 10, on total
amount of premium notes OF sl99 4e3 90 showing a
shrinkage of about three per cent This Is owing
the fact that no policy be legally assessed be-
You'd the date of lis expiration, before the date of
its beginning and quite a number of policies had
either begun or Il. Undated during the year ending
December l. lss, and were therefore assessable for
only a part Of the full wear. This fact must be
borne in mind in estimating tne amount OF any pro-
per assessment; anu also the fact that small pro-
portion of the premium notes are worthless, being
unsecured or made by parties now bankrupt or Out
of the State.
Applying these principles 10 the present deficit of
S23663 20 II seems evident that assessment OF Is
per cent on all notes would really amount TO about
1917 per cent s26,93l NJ: and throwing out what
fail IN he
ample allowance for worthless notes, and calling
the whole amount Of notes on which an assessment
could he collected SlsGuaO 10 this final assessment
of Is per cent wonld realize in cash sa3 100 o.
sum sufficient 10 settle all the liabilities OF the com
panN.
Respectfully submitted,
EDWARD l. TEMPLE.
Rutland Vt, April - lS1Y
No. FERRIsBURGH. Geo. b. kimbal is |
building new barn upon the Old Rogers |
farm.
Charles Collins has resumed business at |
the carriage shopas proprietor or manager
Of the same.
Miss Eva Dart one day last week placed 1
upon our table single stem of Globe Lilly
bearing fifty-six buds and blossoms She
has still remaining four branches of the same
plant which bore 169 buds and blossoms.
We understand that the academy school at
The close of the present term, are to have
public and literary exercises, on Wednes-
lay eve June 80, at the Academy hall.