Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1888-05-25
BaSt Augusta Mutual.
DESIGNATION OF AN OLD AND
VALUED OFFICER.

THE HISTORY OF IT'S OPERATIONS FOR
| THE PAST YEAR-INsURANCE AT THE
Low RATE OF OF l PER CENTRES
IGNATIoN OF PRESIDENT JOHN TOW
herman, AND ELECTION OF JOHN J.
LAREw, EsQ.-Two NEW DIRECTORS.
&C., &C.. &C.
On Saturday last, the stockholders of
the East Augusta Mutual Fire Insurance
Company held their eighteenth annual
meeting. The meeting was called to
order by President John Towberman, and
Hon. A. B. Lightner was called to the
chair. MIR. R. N. Page. Secretary of the
Company. acting as Secretary for the
| meeting. The business order was opened
by the reading of the following:
ANNUAL REPORT OF THE PREsI-
DENT.
MINT SPRING. Va, May 10Th, 1888.
10 tile Stockholders Of the East augusta Mutual
Fire Insurance Company.:
GENTLEMEN We should feel thankful to
the Supreme Ruler for permitting US to meet
again in annual session and for the success
that has crowned our enterprise during the
past twelve months.
Through your kind indulgence I respect
fully submit this, the 18th annual report
and will state that our losses for the fiscal
year are IL cents less on each share of stock
than they were for the previous year. To
Policy Holders, on account of ires Presidents
allowance, Secretary's salary, incidental ex-
penses, &C., the cost has been 13c. per share,
which is small fraction over of per cent,
or cost of S. go on 81, 900 policy or $1.3O
on each $500 policy.
There have been three levies this year, viz:
The first was cents per share for the loss of
Rush & Bro IS barn insured at 5000, Aug. 1,
1887. The second was 5 cents per share for
the loss of W. L. Goochenour's dwelling
house insured at $3.50, Jan. %, 'S8; and the
third and last was cents per share, for the
loss of Geo. D. Koogler's stable insured at
$3.50, and damage to kitchen to his house of
$25, and also for the loss of 81. A. Reeds barn
insured at $780, April IA, 'S8.
Out of the LIST levy, 800 was paid to D. E.
Yount for loss of tenant house; out of the I'd
levy $3.50 was paid to Dull and Bowman for loss
of tenant house, and to Geo. W. Pilson 800
for loss of meat house and poultry house; also
to Andrew A. Crawford $40 for damage to
dwelling house. All of the above losses have
been paid with the exception of the losses of
Koogler and Reed which will be promptly
satisfied at their maturity. The above shows
the amount of losses and damages by fire to
be 81. 9S5, and ST. 976, sc less than that of last
year.
STATISTICS OF THE YEAR.
Gross amount of property insured. .$72,2 25
Net increase of liabilities. .$48, $50
Amount of premium receipts. $1O7 80
Increase of shares...... 1858
New members admitted ................ 62
Tickets returned for non-payment
of dues and which worked
forfeiture of membership. ~
Decrease of liabilities on account of
deaths, removals, Sales &c..""$37, 900
Total gross amount of value of in
sured property. ........ 81, $685.
Total amount of net liabilities...... 1.O12, 425
Total number of shareholders ......600
EXPENSES OF THE COMPANY.
Presidents allowance. ...............$100 |
Secretary's salary. .......... .......... 125
Board of Directors for services ......... SO 20 |
Printing, &c Observation-Disclosures. 81 O3
Total expenses. 1851 70
DEATHS.
The following is list of the Stockholders |
who have died during the year, Mrs. G. A. |
Johnson, Mrs. Martha Buckner Christian |
Coffman, VIM. Patterson, Isaac Newton, VIM. |
Ross. Jno. H. Fix, G. A. Hupman, DIR. E.
Loring Turner, M. D. Vines, and Jno. Miller. |
beg to- add that since the organization of |
the Company, 1873 stockholders have died.
I also wish to subjoin the following
In 1880 the levies aggregated Sc per share
1So0S1 ..."........................ lac per share
81-o2......."...."... lac per share
82-S3...... ........ ........ 13c per share
S3-S4...-................ go. 7c per share
Observation-Disclosures. .-... zoe per share
NJ ol.a |