Lexington gazette. [volume] (Lexington, Va.) 1871-1962, 1899-08-30
MEETING OF THE ROCKBRIDGE
MUTUAL INSURANCE
COMPANY.

The twenty-frst annual meeting OF
the Rockbridge Mutual Insurance Com
pany was held Saturday in the court
house. The meeting was called to or
der at IL o'clock by President J. G..
Cress and Prof. A. L. Nelson was made
chairman, with Mr.: R. g. Walker, Sec
rotary.
After q few remarks congratulating
the farmers Of Roekbridge on their safe
and successful insurance company, Prof.
Nelson appointed Messrs. J. W. Nc
Faddin, J. T. Wilson and DR.. j. O,
Hyde tellers to canvass and report the
number Of shares OF stock represented
The report showed majority OF stock
present either in the person OF the OWE
er or by proxy.
Treasurer r. q. Walker then made
his report for the year which showed
Number of policies in force last year
596; number at present, 597. This
small net increase is accounted for by
the action Of the board Ct directors on
May 9th, when about twenty policies
were cancelled by reason OF non-pay-
ment of assessments. Amount Of in
surance carried last report, s836,35Oi
amount carried at present, $869,6OO,
showing net increase Of $33.25O. The
receipts from all sources for the year
amounted to $7131S; disbursements,
$7O4. 40, leaving balance in the treas-
ury of $500, with an additional credit
in the Bank OF Rockbridge Of 1924.
The net liabilities over assets were
shown to be $110.99.
One feature Of the report was very
striking, and that was the very few
fires OF the past year. Only two small
fires occurred entailing entire loss OF
buildings, with several others causing
only slight damage. The totalamount
paid out for fires was about $500. In
consequence, the average cost Of insur-
ance for the year was only u cents on
the one hundred dollars.
A committee composed Of Messrs. J
T. Wilson, J. P. Welsh, and ]. Scott
Moore was appointed to examine the
treasurer's accounts and report on the
same.
The question of each district electing
its own director WAS discussed. Final
action was lett with the board Of direc-
tors. The following resolution was
adopted:
RESOLVED, That no director shall as
sess any prop erty for his company IN
less he fist examine it and make its
valuation correspond with like property
in it's vicinity
The election OF officers resulted in
the reelection by reclamation OF Presi-
dent j. G.. Cress and Secretary-Treas-
urer R. G. Walker. The terms Of MIR.
W. B. Wallace, director from the Lex
iugton district, and Mr.. Joseph Fultz,
fro m South River district, expired by
limitation. The names OF Mr.. T! A.
OFT and MIR. Wallace were placed in
nomination to fill the vacancy in the
Lexington district and Mr.. Wallace
was re-elec ted. Mr.. Fultz declined to
stand for reelection Tom South River
di strict, and Mr. J. r. Mccormick was
Gle cted as his successor. A resolution
Of thanks recognizing the valuable SER
vices OF Mr.. Fultz as a director was
adopted.
The president and six directors, one
from each Of the maglsteriJ districts
of the county, control the affairs Of the
company. Two OF the directors are
elected every three years. Besides the
two elected this year following ale he
directors from other districts: Wall er's
Greek, Mr.. r. ID. Firebaugh; B"flhlo,
Mr.. j. A. Clemmer; Kerr's Greek, MIR.
Frederick Mohler; Natural Bridge, Mr..
g. W. Efinser.::
The company is in prosperous con-
dit IN aid Offers 10 county patrons a
cheap and safe prot, ion. The bust
ness is confined strictly to the ccunty,
no town risks being taken.