Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1883-05-25
East Augusta Mutual Fire Insurance Co.

East Augusta Mutual Fire Insurance Co.
The thirteenth annual meeting of the
stockholders of this Association was held
on Saturday morning last at 10 O'Clock in
the Court House, A. b. Lightner, ESQ.,,
nresidine. The interest manifested in the
departure of the 9Th Va. Veterans for Mia
cara. which was to take place at l O'Clock,
made the attendance at the meeting thin
ner that il would have been. The follow
ing is the annual report of the President
of the Association. John Towberman.
Esq, which was read:
REPORT OF PRESIDENT TOWBERMAN.
1--WE are again permitted to assemble
through the wise DEGREES of Omnipotence'
TO confer upon matters relative to the ad-
vancement and promotion of our interests
in this company, and at the same time We
are ever thankful for the showers OF peace
and prosperity that have descended upon
us through the months of another year.
Time has rolled on, and many forms that a
year ago cheered our enterprise by their
genial smiles encouragement and wisdom,
have gone from our presence to the lano
of mist and shadows. Still we should be
no less grateful and continue to praise the
Lord of Creation for the bounties that we
have constantly received from His hands
My sincerest wishes are ever with you for
longevity, fellowship in peace. and good
will to all men.
ACHEAP INSURANCE.
Through your kind indulgence respect
fully submit this the thirteenth annual
report. and also state that when we con-
slider our great liabilities, we have as yet
sustained no serious losses for the cost
to policy holders. from fires, Presidents
allowance, Secretary's salary, Incidental
expenses, &C., is only thirteen cents per
share, which produced cost this year to
policy holders of $500 on 81. 600 $l3 on
S. 600, or s26 on q SIT, 900 policy.
THE LEvIEs FOR THE YEAR.
The date of levy for Mrs. McGuffin g
loss of $500 was June LIST, 1882. and was
three cents on each share of stock. Twen-
ty-six tickets we're returned payment be.
ing refused, amounting in value to $23. SO.
These members policies we're not cancell-
ed, from the fact that the payment was
ordered By the action of the last annual
meeting, merely upon charitable grounds.
and was not considered a legitimate loss.
The date of levy for Jas. F. Bowman 8
loss of $81s 66, was Oct. q, 1882; levy of
Eve cents per share was made and fifteen
non-payable tickets amounting to $17.82.
were returned.
A levy occurred Dec. Goth, 1882, for J.
3. McCormick's loss of $500 and Mrs. E.
V. Harman's of $3.50 which, for both, was
two cents per share. and eight tickets
amounting to $1O.48, were returned for
non payment.
A levy for Ephraim Geeding's loss of $500
was made January %, 1883 and was three
cents per share; nineteen unpaid tickets
were returned, aggregating 1882.
TOTAL LOSSES DURING YEAR.
The result of these items shows the total
amount of legitimate losses to be 81 1865.
Sc, non-legitimate losses $500 total ST.
266 66; amount of unpaid legitimate dues
on account of returned tickets, 1912;
amount of unpaid non-legitim .te dues on
account of returned tickets, 1923 .33-total j.,
$61, As.
sTATTsTICS OF THE YEAR
Number of tickets returned fer
non-payment of legitimate dues
and which worked forfeiture
OF membership, ......., AZ
Number of new members admit
ted. 63
Increase of shares. ......... ........ 1875
Gross ant. of property insured, 1914 500 90
Net increase of liabilities ....... $63 600 90
Amount of premium receipts....". Sal 6S
Decrease of liabilities on account
of deaths, removals, sales and
expulsion for non-payment Of
levies At, 500
Increase OF liabilities in excess of
decrease 900. IL. 400
Total gross valuation of insured
property ......,. ...... .."..$1 1925 .050
Total amount of net liabilities. Isl ,083 1866
Total number Of shares of stock. q 666
Total number of stockholders. 782
EXPENSES OF THE COMPANY.
Presidents allowance, $50; Secretary's
salary, 1925; Board, for services, STA;
printing. including portal cards and tick
cts, SIS, 25--total $34s,23.
DEATH ROLL OF THE YEAR.
We have before us the following list of
deaths Of stockholders, which we are pair
ed to announce-James Berry, J. Alex.
Kerr, Martin CARRIER. Thomas Beard, A.
e. Pierce. W. M. Bush, Bethuel Herring,
George Perry, Henry Brew, Jacob Niver-
gall, J. Ballard Smith, Mrs. ]. E. Gamble,
Mrs. Juliet Miller and Mrs. Mary J. Bur-
ress. Among the number enumerated is
A. e. Pierce, Esq. who was one of the
charter members of this company. and to
within two years ago one of its most able
and efficient officers.
THE CASE OF d. 3. LAyELL's LOSS.
On November eth. 1875, a policy, No.
698, was issued to D. B. Lavell on bis
dwelling house for 5000. On the night Of
July 7th. 1882, it was consumed by fire. at
which time Mr.. l.. was residing in Roa-
noke. l was duly notified by him in regard
to it's burning, declined to order levy
to pay him for the following reasons.
1.-The President here states that Article
K of the Constitution provides that where
an insured party encumbers his insured
property with mortgage to more than half
jts assessed value, without giving notice
to the Board of Directors he shall ''forfeit
his membership and his policy or policies
shall be null" On examining the records
of the county court the President found
that on the 18th of April. 1882, said d. B.
I.avell and wife executed deed of trust
to VIM. Burnett for the benefit of cer.