The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-05-01
AN ANNIVERSARY.
The Franklin Fire Insurance Company Gel
ebrates Its Thirty-Third Birthday-A
Creditable Exhibit,

On last Saturday, the 18th day Of April, the
Franklin Fire Insurance Company celebrated
its thirty-third anniversary. This model insur-
ance association was founded in 1850, and to.
day 1t stands in the front rank among the solid
institutions of the land, with a capital of $500
and a surplus of S1O4, 1876. 80, making a total of
assets of 1854, 1876. SO. The board of directors
ness men: James E. Robertson; DIR. II. r. Allen,
president of the Surgical Institute; r. H. Nc
Crea, Of Fahnley & McCrea; A. d. Lynch, presi-
dent OF First National Bank; Augustus T.. Pat
tison, with Murphy, Hibben & Co Isaac Kahn,
capitalist; James l. Bradley; VIM. Willard; John
g: Shoemaker, indianapolis Sentinel Company;
w. W. Woollen; F. L. RItzinger, banker; F. A.
W, Davis, cashier Indiana Banking Company;
John Collett, State GeOlogist The officers are:
j. E. Robertson, president; F. A. W. Davis, vice
president; Gabriel Schmuck, secretary.
This is q home company and one in which we
should all take pride. 1t has always maintained
an unquestlOned ability to pay losses and makes
celled by any fire company doing business in In
diana Its claims for business are better than
those OF foreign companies doing business in this
State for the reason that its officers and direc-
tors are our owr citizens, contributing to the
paying of the taxes of the State and interested in
State and municipal government, and with an
interest III the material prosperity of the State
and of this city. Besides this, the earnings of
this company are not taken out of the State but
remain here, being loaned in this community
and find their way into the channels of trade and
into manufacturing enterprises, in this way be-
prosperity.
The summary of the business of the franklin
Fire Insurance Company for the past year is one
that the officers and stockholders may look over
with pride and satisfaction. The receipts from
fire premiums are shown to have amounted TO
$685. 707 81, and from in vestments to $17, 1855 So
making the total receipts $S2, 863.56. The total
expenditures for that period amounted to $685.
194.57, the receipts over Losses, expenditures
and dividends being $20,663.99, and showing
an increase in premiums over the preceding
year Of $S,774.57.
During he past year the FRANKLIN has added
$l7, 542.33 to Its gross assets and after paying
the stockholders two semi-annual dividends OF
per cent. each, 1t has added
SO, 203 80 to it's reinsurance reserve, aud
$9,593.90 TO Its net surplus. These figures
show the extreme care and economy with which
the finances of the Franklin are handled, and
that its resources are not wasted in high salaries
to officials or in extravaganza expenditures for
purposes Of show. It's growth has been slow
but steady and sure, and the result is that the
company is solid and substantial. The statue OF
the philosopher of common sense that stands
over the door of the company's building, on the
corner Of Circle and Market streets, is well
placed. The Franklin folks never do anything
| that does not accord with it's namesake's shrew
but homely maxims OF prObity and business
sagaciJy,