The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1904-12-23
MRS. HANNAH y. HANNA.
MUTUAL FIRE INSURANCE COMPANY RE
PORT

The report of the Board of Directors Of
the Mutual Fire Insurance Company in
Hartford county gives much matter of in
tcrest to the stockholders
During the year there were written
1890 policies, of which 921 were annual,
1874 short rate. 50 three year term and 3
| five wear term. There are now i'll force
$3.50 policies, of which e, III are annual
| The business during the year has been
! the greatest in the history of the Com
pany The work of readiusting risks has
| been vigorously pushed, and individual
amounts have been brought to limit
consistent with prudent business princi-
pies. Premium rates have also been re-
vised so as to more accurately conform
to the relative hazard of different classes
of property. The result Of this is a re-
duction of SSH. 7O5.5O in risks and an
increase of SIS, 3+3.+l in premium notes.
The total risks carried by the Company
during the fiscal year was So, 973, 329. "a,
which represents premium notes aggre
eating $745, 1881.
The income earned during the year was
$40, 2G9.73, being ST, sol inexcess of last
year. The operating expenses amounted
to SIS, $40 50, an increase of $2,0S9.65
greater than the expense of the previous
year. The largest item of this is 81 900
Inspectors salary, the remainder being
made up of increases Ct printing, dlrec-
tors service and commissions. The ratio
of expense was 1875, an increase of
over + per cent. In comparison with
other companies this management makes
a very favorable showing, being consider
ably lower than five other we'll managed
MARYLAND Mutual Fire Insurance Com
panics.
The year 1904 has been disastrous to
fire insurance companies, and this conf
pany is included in the list. The total
paid out for losses during the year was
$44, .lO7. 20, being an increase OF $40 .23S.-
is over 1903. The largest item in this
loss account is dwellings, and contents,
$19, 1882; barns follow next, S11 ,297.-
10; miscellaneous items make up the
balance
Anintcrestirg analysis of losses is given
on the comparison of losses since 1897.
This shows that the greatest net gain Of
any class of risk is canning houses; the
greatest net loss is on barns. $34, 466 Oh.
The Experience Table CLEANED from the
Company's books has given much valu-
able information towards aiding in max
ing up the new schedule of rates, which
the Company is now putting in force. 1t
seems that the day of very low insurance
rates is past forever Modern civiliza-
ton includes comforts that increase fires,
and the Company has been compelled to
change it's methods of business accord
ingly.
The report gives the general outlines of
its charter, which have been heretofore
referred to in these columns. 1t will be
remembered that the premium notes
have been abolished. Under the readiust-
ment of rates the full mutual premium
for 1905 is ST, 306, 1S0.S1 at + per cent.
interest, producing $52 ,24723. which is
an increase of 81, 539. SO over last year.
The report speaks favorably of the
work of the Inspector. which decreased
the risk of number Of policies and at
the same time increased the premium re-
ceipts. In the only case where loss has
occurred during the year on risk which
has been inspected by Mr.. Mccormick,
the inspector, had his recommendation
for abatement been carried out, the Com
panv would have saved $1,000. or the
whole amount of his salary since he has
been in office.
In conclusion, the report. which is
signed by the president, Mr.. Richard Dal-
lam, says that it has been in existence
for nearly G2 years, during which time it
has collected from and paid out to the
citizens of Hartford and Baltimore coun-
ties approximately ST. 100000. and sees
no reason why under careful and intelli-
gent management the Company should
not continue its usefulness. In this view
the .I:gis fully concurs.