The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1899-02-01
UNION MUTUAL.
Hold. It's Annual Meeting and Election
OF Onicers.

Life Insurance company was held ut the
company's Offices Many Of the represen-
tatiye business men of the city were pres
emit all of whom cordially expressed their
pleasure and satisfaction with the results
set forth in the report.
The following gentlemen were among
those who were observed In attendance:
Hon. Il. b. winslow, John 4. Warren,
Col +. Il. Boothby. VIM. NJ. Marks, Mel
len Il. Bolster. Edward II. York, Arthur
". Merrill, Ii. 5. Payson, Arthur W.
Laughlin, Charles Q. Harmon, Hon.
VIM. h. Looney, George ID. Loring,
Charles q. Allen, DIR. John 4. Palmer,
Jr., George H. Owen, Frank n. Strout,
DIR. Addison ). rhayer, Hon. Josiah II.
Drummond. Hon. Henry b. Cleaves,
Hon. Percival Bopney. Hon. Marquis +.
King, Hon. Frederick Robie. Hon. Selden
Common, Edward A. Noyes. DIR. fired
King, Frank e. Allen. David q. Hamil-
ton of Chicago, Il. 5. Dale of Chicago.
Hon. Josiah II Drummond, Jr., Milton
A. Jewell. James Sinkinson. Isaac A.
Hayes John Brett WI. Mulloney, Pres
ident Fred n. Richards, Vice-President
Arthur L. Bates and Secretary J. Frank
Lang
President Richards called the meeting
to order and announced that the annual
report would be read by Vice President
Bates. Marked attention was given to
the reading and expressions of approval
were manifest as the excellent accom-
plishments became known.
Director David q. Hamilton then pre-
sented report Of building operations In
Chicago that had been under his superyis.
ion during the past year. outlining in
detail and with careful fidelity the vari-
GUS steps by which the undertaking had
proceeded, and confidently asserting that
mo one takes a risk In prophesying that
the time is near at hand, II not now here,
when great activity may tie seen in real
estate in the city of Chicago" lie OK.
pressed the belief that the buildings
which had been erected upon the Univer-
sity grounds would prove an excellent in.
yestment, his opinion being that they
would in the hear future, be converted
into an interest bearing asset He told
Of the saving that had been made, in the
cost OF material and workmanship. by
constructing the buildings while prices
were low, an item which would mean
nearly 5000 additional per house II the
residences were To be built at this time.
He stated that "while not extravagant
in expenditures, every detail was made
as perfect as possible, and the houses
stand there strong in contraction, beau
tiful in appearance both in exterior and
interior, and com plete in detail, a monu
ment of which the Comp my may be
proud" Attractive half tone pictures
of the houses were exhibited ana much
admired.
The president then designated Arthur
". Laughlin, Col. h. L. Boothby and
Mellen H. Bolster IA committee 10 reoeiSe.
sort and count votes for four directors
Upon the completion of their dutiesiit
was announced that Hon. Marquis +.
King, Hon. Henry b. Cleaves, Hon.
Frederick Robbie and Hon. Selden Common
had been reelected directors for term
of three years.
Col f. h Boothby stated that he had
happened to be- in Chicago last October
and the thought had occurred TO him that
he would take trip to the University
grounds and see for himself just what the
company was doing there. lie said that
he wanted to verify everything that Di-
rector Hamilton had told about the
beauty of that street and the buildings.
he was sure they would sell. He further
remarked that as citizen of Maine he
was very much grati6ed to observe the
change in sentiment towards the Union
Mutual by the people of the stnie.as
evinced by the large increase of Insurance.
in Maine, and he was sure that this
knowledge by citizens of other states
would inspire feeling of confidence that
the Union Mutual was AN institution
worthy of patronage.
| MIR. William Nj. Marks said that the
meeting seemed TO him to be unique to
possess a character peculiar TO self viz,
that the life of every man present WAS
insured, and insured in the Union Mu-
tual, giving all an interest on common
ground. He had one criticism 10 make
of the report-that it aid nos emphasize
the good points enough. 1t has seemed
| to those who were familiar with the COM
pany's affairs that II pronounced advance
was being made. which is substantially
confirmed by the concise summary oil
results during the i've years that Presl-
dent Richards has been in executive
charge of the Union Mutual's welfare. 1t
was very remarkable accomplishment
that over one million dollars should
have been added to the assets during that
per cd especially as commercial depression
prevailed during portion OF the time.
| The same is also true of the 100 per cent
increase in surplus, and the gain in pre-
MUM income and other departments,
all of which is most pleasing to the poll
cyholders and convincing evidence of the
solid and substantial foundation on
which the company rests, and no less
complimentary TO all its officers.
III.