The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1906-12-14
FIRE INSURANCE. STATEMENT.

he members OF the Hartford Mutual
Fire Insurance Company held a meeting
at their office in Bel Air on Monday 1t
was presided over by Mr.. John B. Hanna
with Frank E. Gorrell as secretary. The
reports of the president, secretary, treas
urer and inspector were read by the secre-
tary, Mr.. George r. Cairnes, and imme-
diately afterwards referred to a COM
mittee consisting of Messrs Noble l..
Mitchell, {. c. Pussy and Dr. James F.
H Gorsuch.
The presidents report shows the opera
tons of the company for the past twelve
months, and justifes the statement that
at the close of its 63d year, the volume
of insurance written has been larger, the
cash receipts greater than ever before,
the fire losses smaller, and the net sur
plus at the end of the year is the largest
the company has ever had. There are
no unpaid fire losses or other debts now
due by the company.
During the year there have been 2,127
policies written. the risk of w hich amount
ed to So, 403, 1896 and the mutual pre-
MUM to $4S1 ,0S429 The work of re-
issuing old policies has progressed salts
factorily and will be completed during
the present year.
The gross income from all sources
during the year was $60,3O6 45 includ-
ing SO. 1872 81 balance from 1905. The
fire losses for the year amounted to $15,-
1880 as compared with $27,29O71
for 1905 and $44, 4O7. 20 for 1904. The
profit and loss account shows a net gain
of 500, 724 81 which is more than double
that of 1905. The surplus after paying
all losses and operating expenses is $685.
1886. 1t is invested as follows:
Hartford county court house
improvement bonds, par
value $25, 900 ............... $26, 166.67
Office building and real es-
| tate...--..................... 4,64S 60 |
| Office furniture and fixtures 1889 so |
Deposited in savings depart
of Second National Bank
of Bel Air Inconvenience. 100000
Cash in banks.................. 14.70 |
S35, 419 So
The company's only liabilities are the
unearned premiums on short rate and |
term policies which amount to 81, 11O19 |
The report states the purchase of the
Court House Improvement bonds at |
10425 a price which nets fraction over
per cent. interest. These bonds are
dated J,,1, 1OOE T., |
annual installments of $4,000, each be-
ginning with January l, 1908. The
premiums and expenses of these bonds
will be charged off and securities here
after carried a par value.
The office building which was author
lied at the April meeting of the stock
holders, was purchased for So, $50. 1t is
now being improved under the direction |
of building committee, consisting of
Messrs. George K. Cairnes, W. o. B. |
Wright, and the president. The building
will be ready for occupation in a few
weeks and when completed the company
will have well located office building at
a reasonable cost, where the business of |
the company can be satisfactorily trans
acted, and there are five rooms which |
can be rented to help keep down the cost
of maintenance.
The table of losses shows that the
greatest loss. $S,665 SO has been on
dwellings; barns cost, $2,6S9 IS; farm
outbuildings, $2,O72 80; tenant houses,
$61o 46; stores, $25 churches, SIS; lodge
buildings, 500; warehouses, $500; |
saloons, 1915; hotels, 1925; school
houses, 500 so; wheelwright shops.
$16.27; electric plant, $8S &c.
The causes of fire and the losses accru-
| ing have been as follows: Coal oil lamps, |
$50; coal oil stoves, SOTO As; careless
disposal of hot ashes, $50; sparks from
forge, S16.27; tramps sleeping in bar
rack, $6l5; over heated stoves, S344.76;
defective fues, S2,147.12; lightning,
81, 1908; supposed incendiary, So, 273.-
So; unknown, $3.50 46 The directors
and other officers have continued to give
satisfactory attention to the safety of |
chlmneys and stoves, and substantial re-
pairs and alterations have been ordered |
to be made upon pain of forfeiture of in
Surance.
The mutual premium on annual policies
! in force amounts to 81 ,213,226 &c and |
per cent. interest will produce revenue
Of $4S, 529.O7. This sum, together with
the income to be derived from other
sources and the cash and invested sur
plus now on hand will provide resources |
amounting to about 500, 900, applicable
to the payment of fire losses and operat-
ing expenses of the year.
The secretary report shows that there |
are in force 6,125 policies, the risk on
which amounts to $9.S49, 25334 The |
interest premiums, together with interest
on investments amount to SIS, S4S.75. |
The excess of resources over liabilities |
is $2S, 309.39. All damages by fire have
been adjusted and paid.
The report of the inspector shows 80 |
personal inspections during the year.
About two thirds of these had some |
change or other recommended. There |
has been great change for the better in |
the work of the directors and agents and |
considerable of the splendid showing now |
made is attributed to that fact.
During the year the Inspector has
written &c policies, on which the risk |
amounts to $41.O35 and the mutual
premium to 81, $50 So He has also ad- |
justed II claims for loss, in which the
company has been saved 500. portion
of which was done by having the build |
ings repaired under the supervision of the
inspector.
great part of the inspectors work
has been away at long distances from
home and in unfamiliar territory, which
required greater time and considerable
more expense. In January and February
the greater portion of the time was spent
in doing missionary work in a district
while the director was i'll and not able to
get about among his people, who were
being deceived by all kinds of falsehoods.
Attention is called to the eternal vigi-
lance" required in taking risks. Flues
and chimneys should be inspected from
cellar up, if possible, look after furnace
! pipes and the ceiling above the furnace
| o,,J I,a ,ebas CL,,I.