The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1886-05-20
East Augusta Mutual.


ANNUAL MEETING OF THE STOCKHOLM
ERs-REPORT OF PRESIDENT, &C.
The annual meeting of the stockholders
of the East Augusta Mutual Fire Insur-
ance Company was held on Saturday last.
Notwithstanding the attractions Of the
show, a large number of the stockholders
were present
Mr.. A =. Lightner was made temporary
chairman, and the President submitted
his report as follows
To the Stockholders of the East augusta
Mutual Fire Insurance Co.,
Gentlemen, Through the providence of
God have the honor to submit herewith
the 10th annual report. and am gratifed to
state that our heavy liabilities have not
thus far burdened US wi very serions
disasters ; yet the losses Of the fiscal year
exceed those of last year by 81, $50, pro-
ducing cost to policy holders from fires,
presidents allowance, secretary's salary,
Incidental expenses, &C., of y cents per
share, being cents per share in excess OF
last year thus showing that we have sus
tanned the heaviest losses during this year
of any previous year in the history of the
company, yet it only amounts to twenty
sevenfiftieths of one per cent, or fifty
four-hundredths of one per cent, on each
policy of insurance.
The date and amount of losses for the
fiscal year are as follows
Mary E. Southards' dwelling,
July u, 1885. ..............$ $4,000
M. L. Alexander, barn, August II,
1850. lUU.uU
los TT Rankin faotOrv go Nov
26, 1885. 2.35O.0o
r. 5. Gamble, dwelling. Dec. 26,
1885,. 4UU.UU
r. G, Blair. dwelling, March 9Th,
1850. ................... 5Uu.OU
Mrs. Maggie Yount, barn, March
8, 1886. $50. 10000
Total. .............. S., 10000
No. of tickets returned for non
payment Of dues. ........... 81
New members admitted 49,. 49,. 40
Increase of shares of stock 800. $50
Gross am t of property insured, 1855, 2T0.0O
Net increase of liabilities. ...... IS. 513 .33
Amounts Of premium received. $50, IS
Decrease of liabilities resulting
from deaths. removals and eX-
pulsions for non payment Of
levies. Observation-Disclosures. -. S7O.150
Decrease of liabilities in excess
of increase. 1874, 1886 81
Total gross valuation of insured
property. 49,. $50. Isl ,6S9, 500. &C
Total am'G of net liabilities. 81 ,126. S34 6f
No. of shares of stock 20, 81
NO. OF members. .......... ..s.ss ....o4a
Stockholders who have died during the
year are as follows:
Col. D. W. Koiner, John Switzer, II. 5,
Harnsberger, VIM. Wilson, Jacob Cook
G. L. Davis, Isaac Myers. Jas. Borden, M
H. Grove, J. H. Fix, Alexander Ander-
son. Benz. Hawkins. Christian Wine, Jos
, l., Alexander. Mrs. Susan Caldwell.
Respectfully submitted.
JOHN TOWBERMAN, PreS't
The Board of Directors was re elected
as follows John Towberman, President
Samuel CARRIER, P. n. Powell, John j.
| Larew, Daniel Miller, Jacob Koiner, W
A. Hanger, D. +. Hoover, Fl. B. Sieg, :
A. East. John Flrebaugh, Treasurer.
Mr.. G. w. Koiner having declined re
election to the Office of secretary, a number
of nominations for the position Wert
made, among the number being Messrs
r. N. Page, G. w. Sutler, j. Hatch Slower
McCue, and others.
A lively discussion ensued over TIN
question as to whether proxies should b
allowed to be used in casting the vote 10
secretary. The chair having decided tina
they were admissible, all of the other nom
nations were Withdrawn and Mr.. r. N
Page selected without opposition.