Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1892-05-27
IT'S 22d YEAR.


ANNUAL MEETING OF THE EAST Angus
| Ia MUTUAL FIRE INSURANCE co.
On Saturday morning last, the ed annu-
al meeting of the stockholders of the East
Augusta Mutual Fire Insurance Co., was
held in the Court of Appeals room in the
Court House.
| THE PRESIDENTS REPORT.
The following report for the year of
President John J. Larew was read:
To the Stockholders Of the East augusta Mutual
Fire Insurance Company.
Gentlemen:-As we have been permitted to
meet again in annual session, allow me to
submit this the 22d animal report, and am
gratifed to state that our heavy liabilities
have not thus far burdened us with very seri-
Gus disasters, yet the losses of the fiscal year
exceed those Of the past year by $40, produce
ing total cost to the policy holders for fires,
Presidents allowances, Secretary's salary
| and incidental expenses of IA cents per SHARE
| being cents per share in excess of last year,
| and 28-10O of one per cent. on each policy OF
| insurance. The amounts OF losses for the
| fiscal year are as follows:
H. e. Carter damage to dwelling....S 20 90
Windle Sites, damage to dwelling. l 50
W. B. Crawford's barn. ], 400 90
W, r, McCombs dwelling, 700 90
Damage to N. r. District school
house 70 o.
S. M. Serett's dwelling. ................ $50 90
Total loss during year. ........$2, 1913 90
No. of tickets returned for non-pay-
ment of dueS...."-.................. 70
New members admitted ...........". %
Increase of shares of stock. 1925
Gross amount Of property insured. 1884, 1893 90
Net increase of liabilities. -........$56,2 1852 90
Amount Of premiums received. .......$ 1875 SO
Decrease of liabilities resulting
from deaths, removals and ex-
pulsions for non-payment Of
Dues. 3,zoz w
Increase of liabilities in excess of
decrease. ,OOO w
Total value of insured property. 81 ,681 $50 90
Net value Of insured property. ,121 800 90
Number of shares of stock. ,426
Number of members Observation-Disclosures. 1868
Stockholders who have died during the year
are-Cyrus Brown, VIM. p. Gale, David Sha-
yer, DR.. J. R. Stout Mrs. j. A. Dickinson,
AAOu' a. IL Oopo. OAuOoAA LOU -
Mrs. r. j. Gardner, W. Cary Smith, James
Perry W. H. Il. Kiraoofe, David Doom, R.
H. Depriest, George Wine, Mrs. Lydia Bull
Jacob Switzer, Miss e. r. Patrick and VIM.
B. Moomaw.
Respectfully submitted,
JOHN J. LAREw,
President.
TREASURER REPORT.
The annual report of Treasurer John
Towberman was then read. 1t showed the
receipts of the year to have been as follows
Balance from last annual meeting $780,,
2O-Received LIST quarters $24.73; I'd quar-
ter, $57 81; Sd quarter. 50, 476.47; 4th quar-
ter, $206.3S-grand total, $3,074.09. Dis
bursements for the year 81, 6O3.95. Balance
due the company, $47014.
The usual committee to audit the Treas
urer's account examined it and reported it
accurate and correct.
IMPORTANT CHANGE.
| Hitherto under Article of the Bylaws
no insurance conld be done between the
Board meetings; all that could be done in
that direction was for the Secretary, or
other member of the Board having the au-
thority. to take the application of the per-
son desiring insurance, and refer it to the
next meeting of the Board to be passed
upon. This Article was so amended Sat
urday that the Secretary, OF other member
of the Board having authority, can at any
time take applications for insurance, have
the property valued and forward the speci-
fications with the premium to the Secreta-
~ who shall thereupon issue policy of in
surance. The amendment was offered by
Mr.. J. w. Churchman and advocated by
himself and Messrs. Stuart, Fulcher and
P. N. Powell.
ELECTION OF OFFICERS.
Messrs. Jno. j. Larew, President, A. III.
Towberman, Secretary, and John Towber-
man, Treasurer, were all reelected. The
old Board of Directors, except Mr.. E. d.
Kindig, who had resigned, were reelected,
and Mr.. ]. W. Churchman was elected in
Mr.. Kindig's place. The Board now con-
sists of Messrs. J. J. Larew, A. III. Tow
herman, John Towberman, Samuel A.
East, D. F. Hoover, Jacob Bowman, Jno.
A. Stuart, Daniel Miller, T. M. Smiley,
X. B. Koiner, r. N. Page and J. W.
Churchman.