The Cecil Whig., 1880-11-13
Mutual Fire Insurance Company of Cecil
County.

We have received from Mr. Ellis, the Sec
retary and Treasurer of this Company, the
following statement, which we publish for
the Information of the members, and for the
purpose of relieving the Secretary from the
labor of answering innumerable letters on
the subject:
1t will be remembered that at the annual
meeting of the member on the 9TH of last
August a special committee of the members
not managers was, at the request of the
Board, i'll their annual report, appointed to
confer with the Managers in reference to
the disposition of the matured scrip of 1874
and the future financial policy of the Com
pany.
That committee, having had full and free
access to the books and records of the oper-
ations of the Company during the thirty
three years of its existence, and especially
for the last seventeen years that the present
table of premiums has been in force, sub
mitted their report, as directed, to Il special
meeting Of the Board, on the 14th of Sep
tember last. At that meeting, the Board,
after reviewing the whole subject, passed
the following orders:
/. That all the outstanding and unredeem-
ed scrip of 1874, with all unpaid interest
coupons thereon be paid off and redeemed.
>. That the Treasurer be authorized to
pay to all members now in good standing
upon whose policy accounts there We're on
the 1st of August, 1874, small balances of
unappropriated premium payments of sums
less than fire dollars, and who consequently
received no scrip-all such small balances
with interest thereon from August 1st, 1874,
TO August lst, lsS0,-leaving all parties
whose policies have been suspended for non
payment of premium to their legal right of
withdrawal or revival at their option.
,. That the Secretary prepare statement
showing the amount that will be required
to pay off said scrip and balances, with in
terest, and have the same ready for the first
quarterly meeting of the Board in Novem-
her next.
At the said first quarterly meeting Of the
Board, on Tuesday last, 9th inst, the Secre-
tary submitted the required statement,
showing that the amount needed to make
the payments ordered was Sl7, ,741 O3: where
upon it was
| Ordered, That 4 special deposit of SIT,
| al. .O3 he made in bank, to be subject only
to the special checks of the Treasurer for
the purpose named, to he called checks on
| special fund. And that as soon as the
checks can be prepared with the government
revenue stamp imprinted. the Treasurer
shall proceed to make the payments ordered.
! When these orders are carried out they
/ will place the entire Inembership-those
who were members in 1874, and all those
| who have since become members-upon an
! equal footing in their respective claims upon
the remaining funds in the treasury, COM
posed, as they then will be, of the annual
/ balances that have accumulated since
| August, 1874, and amounting, Independent
of the August payments, 1880. to about
532 10000, a sum sufficient, Judging from
the previous history of the Company, to
meet any anticipated demand.
We are informed by the Secretary that
the printing and stamping of the checks
will probably require some ten days or two
weeks, owing to the delay of the stamping
at New York.