Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1885-05-22
THE EAST AUGUSTA MUTUAL.

YEAR OF THE HEAVIEST LOSSES-BUT
THE INSURANCE LESS THAN OF ONE
PER CENT.-THE DRIVER LOSS -ELEC-
TON OF OFFICERS.
&C., &C., &C.
The fifteenth annual meeting Of the
East Augusta Mutual Fire Insurance
Company, took place in the Court House
on Saturday morning last, A. B. Light
ner, Esq, in the chair
REPORT OF PRESIDENT TOWBERMAN
President ToWberman submitted his
annual report to the meeting. 1t is as fol-
lows:
To the Stockholders of the EAst Augusta
! Mutual Fare Insurance Co.:
COMMUNICATIVE years have come
aud gone since a small number of men,
composed of some OF our best and mo st
enterpr1sing farmers, met in the little viii
lage of New Hope for the purpose OF
etfecting an organization of lire lnsur-
ance company upon an economical oasis,
and which should render mutual aid and
protection to all connected Herewith, In
| the event Of loss or damage by fire. The
plan agreed upon and marked out for
| it's future Operatlons was something new
! and unlike the features and principles OF
any other fire company then in existence.
| In it's infancy it received only the sup
port which could be expected upon the
first introduction of any new scheme,
however commendable and worthy of
patronage it might be. Month by month
and wear by year marked its progress.
growth, and success, until to-day its list
of membership numbers many hundreds,
including owners of some Of the most val
liable property IN the county of Augusta.
Its liabilities thus far have all been
met, affording relief and aid in many in
stances to unfortunate and shelterless per-
sons in very limited circumstances. Its
reputation for successful operation is not
only local but has been heralded abroad,
and many counties in this state and in the
far West and Sunny South are fast Or
ganizing companies upon a similar plan.
Therefore we should be proud Of the boon
we have conferred upon our fellow men
and feel grateful to a higher power than
that of earth for being permitted to meet
again in the interests of great home en-
terprise at the expiration of another
twelve months. That Ian is but the Gre
ature of an hour, is bat too truly verified
by the absence from our midst of members
of this company who have been summoned
from this mundane sphere to land far
removed from the storms and perils of
time, and whose loss we most deeply and
sincerely lament.
1 have the honor to submit herewith,
through. your kind indulgence. the 18th
annual report, and am gratilied to state
that our heavy and constantly increasing
liabilities have not, thus far, burdened us
with very serious disasters; yet the losses
of the fiscal year exceed those Of last year
by So ,149, producing cost to policy hold
ers from fires. Presidents allc vance, Sec
retary's salary, Incidental expenses, sc
of 20 cents per share, being 10 cents per
share ia excess of last year. Thus SHOW
ing that we have sustained the heaviest
losses during this year of any year in the
history of the company. But, after all, it
is only 2-5 of one per cent, or less than /
of one per cent. On each policy of insu-
rance.
THE LOSSES.
The dates and amounts of losses for the
fiscal year are as follows:
Jno. W. Williams, barn,
Aug. L, 81. SUU
Mrs. M. E. JohHson's dwelling,
Oct. %, '64. 600
John Price, tenanthouse, Nov. 7,
81. .................. ZUO
M. W. Quarles, tenant house, Nov.
IS, "a 1884
J. 7. Kerr, dwelling, Dec. 80, ST.. $50
W. B. Glover, barn, April Is. 49,. 100
Henry Koiner. barn, April 20, 49,. Il 1868