The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1883-05-24

last annual meeting, manly Oh charitable
grounds. and not considered legitimate
loss.
The date of the levy for Jas. F. Bow
| man S loss of $S16.66, was Oct. 81. 1882; a
levy of 5 cents per share WAS made, and Is
nOn-payable tickets returned. amounting
to $l7.S2
levy occurred Dee. 26, 49, for j. p.
McCombs loss of $500, and Mrs. +. Y.
Hartman S OF $3.50, which for both was =
cents per share, and tickets returned for
non-payment, amounting to $l0.4S.
A levy for Ephraim Geedings' loss of
$500 was made Jan. %. 'S3. and was 3 cts.
per share. Nineteen tickets were returned,
the value of which was 1882.
The result of these items show the total
amount of legitimate losses to be-. 81 766 66
Amt. of non-egitimate loss. .............. 10000
Total amt. actually paid for fires. =. 80 26G 66
Amount of unpaid legitimate dues
count of returned tickets. ............ 3Sl2
Amount OF unpaid hOn-leSltimate dues
on account OF tickets go ......... 2S.33
Total. -. ................... ........ GI.45
No of tickets returned for nop-payment
of legitimate dues and which worked
forfeiture oflkA membership. ~
No. OF new members admitted........... G3
Gross amount of property insured .... 1874 10000
Net increase of liabilities. $1,000 90
Amount of premium receipts, Sl41.Gs; In
crease OF shares. l26. 81
Decrease of liabilities on account of
deaths, sales, removals, and eXpul-
slons for nOn-paylnent of losses ......$ 10000
Increase of net liabilities. ............. l6,400
Total gross value of insured property. ,625,050
Total amount of net liabilities ,0S3, 366
49,
Disbursements for incidentals are as
follows:
Presidents allowance. Observation-Disclosures 50 90
secretary salary. ............. ,...... 10 w
"'''''''..... .''..,.'.''''...'' % 20
We have before us the following list of
deaths, which we are panied to announce
JAS. Berry, }. Alex. Ker, Martin CARRIER,
Thos. Beard, A.. E. Pierce. VIM. Bush,
Bethuel Herring. Geo. Perry, Henry
Beard, Jacob Nibergall, j. b. Smith, Mrs.
j. E. Gamble, Mrs. Juliet Miller, and
Mrs. Mary Burner making a.
Among the members just 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.
November 6. 1915, policy number sos
was issued to ID. B. Layell, on his dwell
ing house, for 5000. On the night of July
| T..
time he was residing in Roanoke CO., Va.
| was duly notified by him in regard to
it's burning, but declined to order Il levy
to pay him for the following reasons
IThe President then proceeds to quote
from the bylaws, which provide i'll sub
stance that the encumbrance of property
to more than one-half of its assessed
value operates forfeiture of the insur-
ance, unless the owner of the property
gives notice to the Board of Directors OF
such encumbrance. leaving it discretion
airy with the Board to continue OF cancel
| the policy Continuing, he says: Upon
examining the record in the county clerk $
office, found that d. B. Layell and wife
| trustee for certain parties therein men,
! toned, copy of which | herewith make q
part Of this report.
| From the above constitutional provisions
and restrictions, relating to encountered
property. | could not see that | was in
any way legally authorized to order its
payment. Mr. Lavell has always been
| very prompt in meeting his dues, and |
respectfully refer the whole matter to you
to-day, for your calm and judicious consid-
Grafton in instructing what is best to be
done in the premises.
This is the fourth case of this charac-
| Ter GlldU Has Deell piouSno W oui hotiCo,
and think 1t OF great Importance tnat
| some measure should be adopted IN order
to settle such matters without throwing
| the weight of responsibility upon the
| shoulders of a President las the constitu-
ton and by-lawsdo) who is IMMERSED in the
| technicalitieS of legal points.
| 1t has been noticeable fact that ever
since the organization of the company,
| fully one-half of the property destroyed
! by fire has been the WORK OF lncendlarleS.
! This thing IS constantly pfactlced ny MD
| liciOuS and lll-deSlgned persons, VINO. IN
order to Wreak vengeance Tor some trlV1al
offense, will, under the cover OF. darkness,
apply the torch to ones buildings. NO
steps have been taken to ferret out these
| and arralgn the parties D2IOfe Il court OF
justice for such high misdemeanors, and
it is further observed tllat the unfortunate
| owners OF such property have always de.
| clded opinions as to the perpetrators OF
these deeds. So it is readily seen how easy
it would be to entrap these lurking Ioes,
by a process OF careful Investigation, ;,
To-day, l specially recommend ana ask
that falr-mlnded view may pe taken Vi
Ilils lilipoI1alc question w aeorse f fo the
| Ps.iJ - - ~ i =. ; o,,d oo,,
| VlctIOn OF the IDcpn0l1rV. AL allV ldu6
such an amount as would secure the SER
vices OF expert detectives, thefepy Ieiiu ne
liiS W o"o ~ ', .,e,' ,,,atoat;o, no has
! lonr felt and needed.
Insurance companies of all descriptions
nave ever since Ihelf existence, peeil SUI
r rbr :" ~ tho ;naenee and ahil;tv Of sew
eral prominent legislators. upon applying
to them during the session OF 1851; sect;
10, oct. go. was 50 aiiienueu I,,s'. S, ,',
Ior 20 LIS uU nre ovomnied from any and
all taxation. But the last Legislature re-
enacted and enforced the Old statute law
ooii ~, oli page ooo. ooo'' 40 'o''
Therefore. under the present law, we
are subject to aspecific license tax of 5000