Lexington gazette. [volume] (Lexington, Va.) 1871-1962, 1902-08-27
Ct Advertising rates furnished on az
Annual Meeting of the Rock
bridge Mutual Insurance
Company.

holders OF the ROckbrldge Mutua
Insurance Company was held or
Saturday in the Court House. 1t was
large gathering, compared will
previous years, but barely aquorum
of the stock was represented in per.
son or by proxy, as the company
has grown so large that oIe-halt
million dollars must be represented
before legal meeting can be held
At 10 o'clock President Effinger
called the meeting to order. John
w. McFadden of near Raphine, was
selected as chairman, and Thomas
Shewey of Fairfield, as secretary.
The chair appointed as a COM
mittee to ascertain if enough stock
was present to proceed with bust
ness, W. A. Kinnear, A. f. Fultz,
r. L. Patterson, Thomas Kerr and
Frank OFT. This was a labOriOus
work and consumed till II o'clock,
but before adjourning for dinner
announced 2, $40 shares represented
in'person and 7 1899 shares by proxy,
making in all 10, 900 shares present.
An hour was taken for dinner and
the stockholders returned at 1.30
prepared to dispose of such bust
ness as might be brought before
them.
Mr.. r. c. Walker, the permanent |
secretary of the Company, who has
been sick for several weeks, was
not present and the reading of last
years minutes and the 1901-02
report of the financial condition of
the Company and it's business trans
actions covering that period, de-
vOlved upon Secretary Thomas
Shewey.
There are at this time 700 policies
in force. The last annual report
showed only $50, and is an evidence
of the steady growth of the Com
pany. The number of shares of {
stock is 10000, which at $50 per
share amounts to 81, 100000. The
average cost of insurance for each '
800 Of property has been IA cents. l
There was collected by the secretary /
during the year monies amounting C
to 50, S57.45 apportioned as fol- n
lows: /
From the fires OF William l.,
Wilson, DIR. j. G.. Hyde %
and j. NJ Quisenberry,. So, 1894 :
Collected on new insur- "
ance and transfer of Il
pOllcles,.. - 22.J5 ri
Collected on old delin- =,
Quent assessments. 900. 1906 u
----- il
$2,857.45
The disbursements for the same !
period on salaries of directors, \,
he secretary and treasurer and :.
mall losses on dwellings and sundry ~
necessary expenses, were so, S51.57, r;
eaving balance on hand of SIS. 89. =,
The Company has no liabilities on -,
land and its resources are cash in n
'ank at this time $1,000. II;
Difficulty in previous years has 20
een present in the election of N
fficers, but it was obyiated in this
netting by a resolution of DR.. j. q;
!. Hyde who moved that all the h.
Id officers be reelected by accla- G,
lation, which was done. 1t was IT
decided compliment to their til
fficiency. The officers reelected A
-ere G. w. Effinger, president; r. 81
!. Walker, secretary; and the 'i'
TENDERS of the board of directors ~ ~
eplacing themselves were w. B. m,
Wallace for Lexington District, an
nd Joseph Fultz. for South River eli
district. ei'
The question of increasing the ~
apital stock of the Company met SO,
nth no opposition, and was set ele
,rth in a resolution offered by We
resident Effinger and seconded by
7. F. Pierson. Mr.. Effinger stated ' W.
nat insurance had to be declined st;
scause we had gone as far as our tn,
1arter would allow, and had caused SUI
lends of the Company to look rel
sewhsre. The motion was explicit
nd as follows: ,
Resolved, That the President TIE
id Board of Directors of the Rock inc
'idge Mutual Insurance Company ing