Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1911-09-01
The 32d Annual Report Of the
Shenandoah Farmers Home
Mutual Fire I1SuranC Co.

This company has almost roulded
out one-third of q century with one
OF the most prosperous years in its
history, 273 polices insuring s243, 1858
/ have been issued during the year. A
net gain over last year Of slS, 902 The
net increase in the amount of insur-
ance in the past six years is 81, 1884,
| 1880.
NJ EMBERsHlP AND AMOUNT OF IN
sURANcE.
The Board directed the Secretary
to enter in book kept for that pur-
pose-the number of members, the
the number OF policies in force and the
amount of insurance in each class.
This involved much labor and costs
but the business of the company has
reached such Dimensions that it was
deemed necessary to secure this in
formation. The result is as follows:
Number of members. .......... 1880
g OF policies in force. 1854
Amount of property insured in
ISL Grass ........ 49,. oitl,oii .Vo
Amount of property in
sured in I'd class. 49,. S1,067, 96l. 90
Amount of property in
sured in Sd class. ........ .S9l .045. 90 |
Total amount of insurance. 81, 900, 683. |
LOSSES.
Twenty-Five losses have been sus.
tanned and paid ageree ating 2,9S3.04,
an increase over last year of S2lI.58. |
EXPENSES.
The total operating expenses have
been S962.00 an increase over last
year of 1924 90. This increase of ex-
penses is due to costs of transferring |
all accounts to new ledgers, costs of |
books and postage, while this ex-
traordinary expense will not be in
Cured again for eight or ten years, !
the growth of the b. s'sess necessarily
increases the operating expense of the i
company. But we call attention to |
the fact that while the operating ex-
penses have Increased and the losses
were larger than last year, the as
sessment was reduced 1853 per cent
tn e lowest in many years.
SURPLUS.
We carry into tie new year a sur
plus OF Sl636.77, and 1924 30 uncol- i
lee ted assessments. This is 1914 50 |
less than last year. The surplus
would be about the same, however,
but for the increase of losses and the |
unusual expenses of the current year,
nding the asses sment was
reduced one-sixth.
LIVE STOCK DEPA RTMENT.
There was an incre ase of nearly 200 |
per cent in this department during the |
year. The amount of live stock in
surance is now Si4, 220. There has
been no loss since its organization.
We recommend this department to
our members as the best and cheapest |
live stock insurance in the county |
At the same time it is profitable
class of insurance to the company.
VACANT PROPERTY.
The attention of all members is call
ed to article 80, as heretofore amend
ed, which requires the owner, as soon
as property becomes vacant to notify |
the secretary in writing.
The Board requests members who |
know property which they think is
insured for too much or which has
become an undesirable risk to report
the fact to .he President or Secretary
who will have the matter promptly |
investig ated without disclosing the
name Of the informant
AMENDMENT.
Article u was amended to read as
follows: -"Class 3 shall pay at the |
rate of II per cent and consists Of old |
houses with old roofs, barns &c. so |
close to the buildings with fire in them
as to be in danger from sparks; but |
mills, factories Ind all other property
deemed hazardous shall be at such
rates as may be determined by the
Board of Directors"
VIM. T. Williams was elected Presi
dent, R. M. Lantz, Secretary and
Treasurer and the old Board of Oirec-
tors was continued in Office.
This company is furnishing insurance
at cost and the rates for the past six
years have been low. This year 10 cts. |
on the 800, first class; 20 cts. on the
second class aud 30 cts. on the third
class. But one assessment is made a
year and all losses are promptly paid.
Sept. l IT.