The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1897-01-22

o., 4'LH.
GENTLEMEN: We. the undersigned com
mttee, appointed at your last regular meeting,
December 18th, 1896, to examine the books,
together with the report of the Secretary ana
Treasurer. aud TO make such suggestions as
we may deem for the interests III the Com
puny, beg leave TO submit tho following
We find the books IN good condition, neatly
kept aud go arranged as to set forth distinctly
and clearly each item or transaction. The re
port is an accurate statement OF the Company 5
affairs as taken from the books.
The gross receipts Tor the year ending NO
vember 3uth, lsO6, were S5O,6G3.s2, and the
total expense WjS -, %, which is nearly
10 per cent. of gross receipts.
The gross rcceipts for the year ending No
Vembcr goth. 1888. were SOS, S23.3,S ami the
total expense was S6,016 90, which is about
Do per cent. oil gross receipts.
The gross receipts for the year 1891 We're
81, $40 81, and fhe total expense was So
53S.4S. which is about 20 per cent. OF gross
receipts.
The receipts FOR new business for year end
ing November Both, 1896, were S3,556.S3, and
the approximate cost for obtaining the same
was 81 ,633.SG, which is ncarly 40 per cent, Of
receipts. The receipts for new business for
year 1895 were S}.Ifi.41, and the apprONi-
mate cost of 0btafninr the saT, was 81 .693. 81.
which is nearly 81 per cent. of receipts The
receipts for new business for year 1851 were
2,13O, and the approximate cost of obtaining
the same was Sl,3O1, which is about is per
cent. of receipts.
The Secretary's report shows net gain in
the years business OF S5,3RT.2G, US against Il
loss of s., l00,93 in tbs business of the year
1895, which is very gratifying.
The committee RESPECTFULLY submits the fol-
lowing suggestions for your consideration,
which, ii adopted. in their opinion, will work
for the interest of the Company:
lst. That the rate of insurance on mills,
brick or stone, tile, slate or metal roof, snail
be ) per cent, except when other power than
water is used, in which case it S all be 20 per
cent, and on frame, log or mixed mills il shall
be 20 per cent, except where other power
than water is used in which case il shall be %
per cent.
-. That the rate af !n4urance on stores,
brick or gtonet tile, slate OF metal roof, shall
| ne 5 Her cent, and on frame, log OF mixed it
| shall be 30 per cent.
Sd. That resolution No g. adopted on Jan
| uary 9TH, 1895, he amended SD US to read. That
| the premium for the remainder OF the current
| year on any new inEGrance shall in no case be
less than tie cost OF e:tccting the Insurance. in
| addition to the regular charge of interest.
Ath. That bylaw Is he amended by subSti-
| tutng he word thirty for the word sixty, CIV
| ing the insured thirty days of grace instead of
| sixty in which to pay his premium. This pro-
| vision not to take effect until January, 189S.
9Th. We strongly urge thp atSisAbihty of
| having the agent visit SHa IeE0rt on us many
fires as poSsjp,r, a,.I aiso requiring him TO Ell
| tect AZ Ituph insurance as his time will permit.
| The matter Of short rate insurance, as referred
| on motion OF Mr. ). A. Williams, your com
| mittee, after careful deliberation, thought best
| to leave as 1t now is.
GEORGE E. SILVER,
NORLE T.. MGTCHELL,
22ja WM. E. ROBINSON.