The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1905-01-21

hers have also adopted new Constitution and
Bylaws, which provide the details for carrying
out the provisions of the Charter. New forms
of applications and policies are being used.
In addition TO the changes above mentioned
sns ~ Rata n Witch he s esprt hes e sr
made to more accurately TX the relative hazard
Of different classes Of property.
Under the New Schedule the cost of insuring
some kinds of property Is reduced and in other
cases increased. At the annual meeting in jan
uary. 1904, the members ordered that the rate on
having been shown that the losses on barns were
greatly in Of the income from that class
taliy iadeqnate. The New s e e Of Rates
contains the barn rate as fixed by the members.
In framing the New Rate Schedule the Board of
Of the most successful Mutual Fire Insurance IN
Companies of this State-that of q higher pre-
mium rate and lower interest rate. the cost of
as under our former plan the premium rate on
q building would be per cent. and the interest
cents on the 500. we now have premium rate
of IL per cent. and interest rate of per cent,
producing the same COSTS cents.
The object of this change is to give certain
degree of hexibility to the Company's regular
income. Attic end of fiscal year,When they are
able to estimate the Company's probable needs,
the Board of Directors.iD fixing the interest rate
for the coming year, can slightly increase or d.
minish the rate. as 10 their Judgment may be
iect from the members only sufficient money to
meet losses and expenses. By the operation of
this system it is hoped that the necessity for an
extra assessment will be forever avoided.
Because of the increased rates on several
classes of property. and particularly because of
the higher barn rates. the cost of insurance for
1905 for majority of our policy holders is in
creased.
This situation has given an opportunity to the
more energetic agents OF stock Companies pa. to
dy at their commando Stock Company Policy.
Some of these gentlemen. in their zeal for the
welfare of the people, have undertaken to Tex
plain" the provisions of our New Charter and
They tell poiicy-holders that we are now tax
ing mortgages and judgments on their property
and are making assertions equally ridiculous
systematic effort is being made to convince
people that the premium note has been replaced
{ man can insure in this Company. That as re-
suit of the change OF method the last stage OF
our members is worse than the first. Whether
1 such nexplanations'' are due to total ignorance
Of the principles of Mutual Fire Insurance. or
are Willful misrepres entations made with a de-
Derate ATTEMPT 70 deceive ely the result is tne
the Hartford Mutual with agents of Stock Com
sions for real interest in your welfare.
The officers of the Mutual Fire Insurance Com
pany wish to say to the members of our company
and to the public. every change that has been
made in our methods of BUSINESS has been made
only after full and careful consideration, having
in view only the interests and welfare of the
people of Hartford and Baltimore counties.
We are trying no experiments on our mem
bers, but the only new features Incorporated
into our Charter, Constitution, Bylaws and
Regulations are those which the experience of
other successful Mutual Fire Insurance Com
panies has shown to be wise and beneficial to the
pOlicy-holders. Our Company is in better posi-
ton today to properly serve the people than at
any timein its history.
We assert without fear of successful contra
ditiOn, that we now have the best Charter of any
Mutual Fire Insurance Company in the State,
and that the policies we now write are more lib
eral in terms and afford better protection to the
assured than the policies of any Stock Fire In
surance Company now doing business in Mary
land.
Our schedule of rates is as low as can safely be
charged by any insurance Company which has
the ability and intention to pay fire losses.
Whenever, in the application of the new rates
to old policies, errors have been Ommitted,
prompt correction has been and will be made.
This Company has never actively solicited bus
mess and does not find it necessary to do so
now More insurance is daily offered to us than
we can accept.
dence of the property owners of Hartford and
Baltimore counties, and its present officers will
eudeavor to see that such confidence shall con-
tinue to be merited and not abused.
An explanation to be worth anything must go
somewhat into details. The length of this state
ment. therefore, is unavoidable. If any further
information of the Company's methods is de-
sired by any p0licy-h0lder the officers will be
glad to furnish the same. After fully cOmpre-
bending the effect of the alterations made in our
Charter and other regulations, should any policy
holder prefer to Withdraw from this Company
and seek insurance elsewhere, we have nothing
to say except to express the hope that he will
never have occasion to regret the change.
Respectfully submitted:
President.
GEORGE R. CAIRNES, Secretary.
Jan. 2l-1t