The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1888-04-19
The Connecticut Indemnity.

THE GROWTH AND PROSPERITY OF A Pop
ULAR INSURANCE COMPANY.
The annual statement of the Connect
cut Indemnity association for 1887 shows
large gains Of new business and financial
results which augur well for the future.
The company increased it's business in
Connecticut nearly so per cent over the
previous year, the new business written
in it's home state, (Connecticut) amount
ing to the handsome sum of 81 ,233, 75S.
Take into account the entire business
written in all sections of the country by
the Connecticut General of Hartford, an
Old Line company, which has been in bus
mess since 1865, which amounted to but
81 ,431 ,55l and that of the Phoenix Mutual
of Hartford (which has likewise been in
business since 1851 to only 81, ,005,
and the record made by the Indemnity
will be the more appreciated. The receipts
from all sources OF the Indemnity were
1923, 5l2,47; there was paid to members
$20,912, 40 against $31 ,225,26 received.
The company's statement further shows
reserve or guaranty fund securely invested
of 1851 1875 and assets approaching close
to 81 zoo, 90 with liabilities of but $4,25O.
The security to policy holders December
81, 1887 liability of capital considered).
amounted to nearly 5000, 100000. The as
ISOLATION up to January l, 1888, did little
or no business outside of Connecticut, 1t
is now regularly admitted to do business
in IA states. Within the past week it has
been admitted to Minnesota, Indiana, Ala
bama, Missouri and South Carolina TAX
ingsinto consideration the record which it
has MADE in its home state as criterion ;,
with its present extensive field in which
to operate, the outlook is indeed favorable
to great growth. The Connecticut In
demnity association is Differed by men of
energy, experience and ability, and its
directorate is composed of men Of wealth
and sound Judgment. The officers, elected
at the annual meeting are as follows.
President. Victory L. Sawyer; vice presi-
dent, John H. Guernsey; secretary, Ed
ward A. Wright; manager of agencies. b.
D. Avis; Treasurer mortuary fund Her
tert W. Lake; treasurer dividend fund,
Augustus M. Blakesley; treasurer old age
benefit fund, Charles e. Lamb: medical
directors. Drs. North and Axtelle; execu-
tive committee, Victory l.. Sawyer, Imri
A. Spencer, Harry C. BroWnell, Louis M.
Meyer, Edison A, Judd, Herbert w. Lake,
Daniel F. Webster, Edward A. Wright,
Buell. Heminway.
The bylaws of the Connecticut Indem-
nifty association provide for the appoint
ment of three competent persons, not
members of the associations executive
committee. as an examining finance COM
mittee, who shall make thorough exam.
ination Of the books, accounts and vouchers
of the association and report thereon after
the completion of their duties.
AT the annual meeting, January II, Mr.
A. Hodges, accountant at the Citizens
national bank. H. 7. Stedman, account
ant at the Dime Savings bank; and e. T..
Bronson. Esq. secretary and treasurer of
the Benedict & Burnham Manufacturing
company, were selected by the members
and shareholders as an examining and
finance committee.
The following is a true copy of the re-
port rendered by them:
WATERBURY,. Conn. Feb Is, 1883.
To the President Directors and Members of
the Connecticut Indemnity Association of
Waterbury. Conn:
Gentlemen-Fully realizing our respon.
sibility as a committee, appointed to audit
theacconnts OF the Connecticut IDdem-
nifty association, we have devoted several
days to the work We have carefully
verified the annual statements rendered
at the annual meeting of the association,
and have found the various items therein
enumerated correct. We closely examined
eeii hi"eeNAc PSi ptiiiihS w luO oeotOi1iOht,
and particularly the Investments of the
company, and the various accounts relat
ing to trust funds. The investments we
find to have been made with good iudg-
ment and the Trust funds are all intact,
and the accounts relating to the same are
kept in manner to easily determine the
condition of the funds. The bonds fur
nlshed by the officers as security for the
honest and faithful performance OF their
duties are ample and of the highest order
of security. The receipts and disburse
ments were all checked off and proper
vouchers found for the same. We also
gave considerable attention to the methods
pursued by the managers in the conduct
of tie company's business. To sum W
the result of cur labors, we are fully con
vinced that the affairs of the company art
honestly and efficiently administered.
Respectfully submitted.
II. 7. srEDmAN, Auditors.
L. l.. BRoNsCN.
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