KIWAMS BACKS
EUREKA SCHOOL
Dr. Poate Gives Detail of Sit
uation at Farm
Life
At the Kiwanis dinner at the Car
olina Wednesday Dr. Poate presented
a financial statement of conditions at
the Farm Life School at Eureka, from
which the following synopsis is
copied. This portion of the report
has to do with the finances of the in
stitution, but because of the lateness
of the time the balance of the report
has to be carried over until next
week:
The Eureka District School, sup
ported in like manner as all other
county public schools, receives the in
crement of a 30 cents local school tax
on Eureka District, which yields $1,-
706.25.
From the county and State equali
zation fund, the district school re
ceives $7,183,75, and its per capita
share of $18,537.70 county allotment
from equalization fund. This support*
the school.
The Federal Smith-Hewes fund
pays twoard Farm Life School agri
cultural teachers* salaries $2,858.60.
Teachers* training fund pays $1,700.
From private sources the school re
ceives $3,929.96 toward salaries.
Farm Life School proper receives
nothing from the county, and has
never received anything; $100 (now
$200) per year is paid toward sum
mer teachers’ work, as stated above.
The Farm Life School revenues are
derived from (1) Smith-Hewes fund,
above (2) teachers’ training fund,
above; (3) private sources, and (4)
dormitory receipts. Balance sheet of
these is as follows:
School receipts (above) $11,748.60
Dormitory receipts 8,935.51
_THE PILOT
STATEMENT.
Pilot Re-In Fire Insurance Company, New York.
Condition December 31, 1925, as Shown by Statement FilM.
Amount of Capital paid in cash . $400,000.00
Income—From Policyholders, $101,152.48; Miscellaneous, $35,-
946.34; - Total,
Disbursements—^To Policyholders, $135.17; Miscellaneous, $66,-
182.63; - ; Totel,
Fire Risks—Written or renewed during year, $108,355.22; In
force, —
All Other Risks—Written or renewed during year, $2,355.28;
In force,
Assets
Value of Bonds and Stocks v
Deposited in Trust Companies and Banks on interest 112,59i}.7y
Agents’ balances, representing business written subsequent to
October 1. 1925, nn
Interest and Rents due and accrued
All other Assets, as detailed in statement
137.098.82
66,317.80
99.039.31
2,113.17
5,518.90
2,150.76
Total $20,684.11
School disbursements $11,748.60
Dormitory disbursements .... 10,435.51
Total $22,183.11
Deficit on dormitory disbursements,
$1,500. Balance the school holds un
secured notes to cover this, and about
$1,000 are probably collectable.
A careful appraisal of school prop
erty is as follows:
Real property $32,500.00
Equipment 6,200.00
Unsecured notes collectable 1,000.00
Total $38,700.00
This is conservative.
Liabilities.
Mortgages $20,000.00
Notes payable, about 18,000.00
Operating deficit 1,500.00
Total $39,500.00
(4) That unless some action is tak
en immediately, the school must close
its doors. It cannot longer exist upon
the present terms.
Recommendations:
Your committe recommend, there
fore,
(1) That the Kiwanis Club of Aber
deen formally indorse the Farm Life
School, and urge the Board of Educa
tion and County Commissioners to
call a general county election on
these points: (a) To take over school,
(b) To issue bonds to the amount of
not more than $40,000 to finance pur
chase. (c) To levy special county-
wide school tax of 2 cents on each
$100 to retire bonds and support the
school.
(2) That the members of the Club
work, individually and collectively,
toward this end, and endeavor to edu
cate the public and to secure a favor
able decision at the polls.
(3) That these recommendations,
and this report, be published in all
the county papers, with the Club's
action thereon.
Dr. R. C. Gilmer, of Sanford, ad
dressed the meeting, talking about
the work of the Kiwanis clubs, and
showed that wherever a club of this
type exists the general effect on the
community is wholesome and for
progress. He was well received by the
club in his address.
FOR SALEI—Buttermilk fed chick
ens weighing 1 1-2 to 2 lbs. Mrs.
Carl Kivett, Carthage, N. C.
FOR SALE3—10 H. P. Gasoline en
gine and 20 inch com mill. A bar
gain for cash. Henry Lowhon,
Carthage, N. C.
Total $878,450.68
Total admitted Assets $878,450.68
Liabilities
Net amount of unpaid losses and claims $ 28,158.00
Unearned premiums - 74,686.86
Estimated amount payable for Federal. State, county and mu- .
nicipal taxes due or accrued 1,100.00
Total amount of all Liabilities except Capital $103,944.86
Capital actually paid up in cash $400,000.00
Surplus over all liabilities 374,505.82
Surplus as regards Policyholders $774,505.82
Total Liabilities $878,450.68
President, Carl Schreiner: Secretary, A. F. Sodlen; Treasurer, S. Ackermann.
Home Office: New York.
Attorney for service: STACEY W. WADE, Insurance Commissioner,
Raleigh, North Carolina.
Manager for North Carolina: Home Office,
STATE OF NORTH CAROLINA,
(Seal) INSURANCE DEPARTMENT,
Raleigh, Jan. 7, 1927
I, STACEY W. WADE, Insurance Commissioner, do hereby certify that
the above is a true and correct abstract of the statement of the Pilot Re-In
Fire Insurance Company, of New York, filed with this Department, tshowing
the condition of said Company, on the 31st day of December, 1925.
Witness my hand and official seal, the day and year above written.
STACEY W. WADE. Insurance Commissioner.
STATEMENT.
Indemnity Co. of America Insurance Company, St. Louis, Mo.
Condition December 31, 1925, as Shown by Statement Filed.
Amount of Capital paid up in cash .— $ 250,000.00
Amount of Ledger Assets December 31st of previous year,
and Increase of Capital during year, Total 1,019,462.15
Income—From Policyholders, $925,183.52; Miscellaneous, $1,-
205,867.60; Total 2,131,051.12
Disbursements—To Policyholders, $377,279.32; Miscellaneous,
$585,060.07; Total 962,339.39
Assets
Value of Real Estate 508,915.08
Mortgage Loans on Real Estate 7,000.00
Value of Bonds and Stocks 398,071.62
Cash in Company’s Office 7,777.92
Deposits in IVust Companies and Banks on interest 38,649.69
Premiums in course of Collection 190,782.49
Interest and Rents due and accrued 3,237.84
All other Assets, as detailed in statement 96.418.53
Total $1,250,853.17
Less Assets not admitted 58,480.19
Total admitted Assets $1,192,372.98
Liabilities
Unpaid Claims $ 100,460.00
Unearned Premiums 398,156.78
Commission, Brokerage, and other charges due 46,986.39
Salaries, Rents, Expenses, Bills, Accounts, Fees, etc., due or
accrued 4,725.00
Estimated amount for Federal, State, county, and municipal
taxes 10,244.55
Reinsurance 1,174.95
All other Liabilities, as detailed in statement 114,650.00
Total amount of all Liabilities except Capital $ 676,397.67
Capital paid up $250,000.00
Surplus over all Liabilities 265,975.31
Surplus as regards Policyholders 515,975.31
Total Liabilities $1,192,372.98
President, Ch. A. Lemp; Secretary, Henri F. David; Treasurer, W. J. Lemp.
Home Office: St. Louis, Mo.
Attorney for service: STACEY W. WADE, Insurance Commissioner,
Raleigh, North Carolina.
Manager for North Carolina: Home Office.
STATE OF NORTH CAROLINA,
(Seal) INSURANCE DEPARTMENT,
Raleigh, Jan. 7, 1927.
I, STACEY W. WADE, Insurance Commissioner, do hereby certify that
the above is a true and correct abstract of the statement of the
Indemnity Co. of America Insurance Company, of St. Louis, Mo., filed with
this Department, showing the condition of said Company on the 31st day of
December, 1925.
Witness my hand and official seal, the day and year above written.
STACEY W. WADE, Insurance Commissioner.
STATEMENT.
Const! tat ion Indemnity Co., Insurance Company, Philadelphia, Pa.
Condition December 31, 1925, as Shown by Statement Filed.
Amount of Capital paid up in cash : $1,000,000.00
Income—From Policyholders, None; Miscellaneous, $2,992”-
Disbursements—To Policyholders, None; Miscellaneous, $12*,-
653.67; .^.......Total 2,992,653.67
^01.2^; Total 12,601.23
Assets!
Value of Bonds and Stocks $2 909,227.10
riflsh in nr»TYinfl'n''T^« O-ffiptv ’ 150 00
Cash in Company’s Office
Deposits in'Trust Companies and Banks on interest
Interest and Rents due and accrued
70,675.34
29,812.17
Total $3,009,864.61
Total admitted Assets $£^,864.61
Liabilities
Salaries, Rents, Expenses, Bills, Accounts, Fees, etc., due or
accrued $ 25,000.00
All other Liabilities, as detailed in statement 50,000.00
Total amount of all Liabilities except Capital $ 75,000.00
Capital paid up : $1,000,660.00
Surplus over all Liabilities 1,934,864.61
Surplus as regards Policyholders 2,934,864.61
Total Liabilities ^3 009,864.61
President, J. W. Cochron; Secretary, Edward V. Milis; Ed’. V. Mills.
Home Office: Philadelphia, Pa.
Attorn^ for service: STACEY W. WADE, Insurance Commissioner,
Raleigh, North Carolina.
STATE OF NORTH CAROLINA,
(Seal) INSURANCE DEPARTMENT,
T orT» * R>aleigh, Jan. 7, 1927.
I, STACEY W. WADE, Insurance Commissioner, do hereby certify that
the above is a true and correct abstract of the statement of the
Contitation Indemnity Insurance Company, of Philadelphia Pa., filed with
this Department, showing the condition of said Company on the 31st day of
December, 1925.
Witness my hand and official seal, the day and year above written.
STACEY W. WADE, Insurance Commissioner.
Friday, January 21, 1927.
STATEMENT.
The Century Indemnity Co., Insurance Company, Hartford, Conn.
Condition December 31, 1925, as Shown by Statement Filed.
Amount of Capital paid up in cash $500,000.00
Assets
Value of Bonds and Stocks - $892,500.00
Deposits in Trlist Companies and Banks on interest , 95,157.50
Interest and Rents due and accrued - 7,747.40
Total - ^ $995,404.90
Total admitted Assets - $995,404,90
Liabilities
Capital paid up $500,000.00
Surplus over all Liabilities 495,404.90
Surplus as regards Policyholders $995,404.90
Total Liabilities - $995,404.90
Pres., Ralph B. Ives; Secy., W. Ross McCain; Treas., Geo. L. Burnham.
Home Office: Hartford, Conn.
Attorney for service: STACEY W. WADE, Insurance Commissioner,
Raleigh, North Carolina.
Manager for North Carolina: Home Office.
STATE OF NORTH CAROLINA,
(Seal) INSURANCE DEPARTMENT,
Raleigh, Jan. 7, 1927.
I, STACEY W. WADE, Insurance Commissioner, do hereby certify that
the above is a true and correct abstract of the statement of the
!l^e Century Indemnity Co., Insurance Company, of Hartford, Conn., filed with
this Department, showing the condition of said Company on the 31st day of
December, 1925.
Witness my hand and official seal, thf» day and year above written.
STACEY W. WADE, Insurance Commissioner.
STATEMENT.
Commerce Fire Insurance Company, Glens Falls, N. Y.
Condition December 31, 1925, as Shown by Statement Filed.
Amount of Capital paid in cash $ 500,000.00
Amount Ledger Assets Dec. 31st previous year and Increase
paid-up Capital - Total 1,955,699.65
Income—From Policyholders, $1,087,385.97; Miscellaneous,
$172,032.03; ; ...Total 1,259.418.00
Disbursements—To Policyholders, $424,582.25; Miscellaneous,
$425,035.13; Total 849,617.38
Fire Risks—Written or renewed during year, $1,532,751.16; In
force 1,513,605.00
All Other Risks—Written or renewed during year, $360,181,64;
In force 234,309.28
Assets
Value of Real Estate 65,000.00
Mortgage Loans on Real Estate 152,600.00
Loans secured by pledge of Bonds, Stocks, or other collateral 114,750.00
Value of Bonds and Stocks ; 1,817,802.00
Deposited in Trust Companies and Banks not on interest 55,305.64
Agents’ balances, representing business written subsequent
to October 1, 1925 ; 154,503.87
Agents’ balances, representing business written prior to Oc
tober 1, 1925 3,230.41
Interest and Rents due and accrued 18,833.02
All other Assets, as detailed in statement 12,361.98
Total $2,394,386.92
Less Assets not admitted 3,538.76
Total admitted Assets $2,390,848.16
Liabilities '
Net amount of unpaid losses and claims $ 145,142.80
Unearned premiums ' 955,625.61
Estimated amount payable for Federal, State, county and mu
nicipal taxes due or accrued 30,000.00
All other liabilities, as detailed in statement 3,022.20
Total amount of all Liabilities except Capital $1,133,790.61
Capital actually paid up in cash $500,000.00
Surplus over all liabilities 757,057.55
Surplus as regards Policy holders - $1,257,057.55
> ■ — -
Total Liabilities $2,390,848.16
President, E. W. West; Secretary, F. M. Smatley; Treasurer, R. C. Carter.
Home Office: Glens Falls, N. Y.
Attorney for service: STACEY W. WADE, Insurance Commissioner,
Raleigh, North Carolina.
Manager for North Carolina: Home Office.
STATE OF NORTH CAROLINA.
(Seal) INSURANCE DEPARTMENT,
Raleigh, Jan. 7, 1927.
I, STACEY W. WADE, Insurance Commissioner, do hereby certify that
the above is a true and correct abstract of the state^ment of the
Commerce Fire Insurance Company, of Glens Falls, New York, filed with
this Department, showing the condition of said Company on the 31st day of
December, 1925.
Witness my hand and official seal, the day and year above written.
STACEY W. WADE, Insurance Commissioner.
STATEMENT.
Birmingham Fire Insurance Company, Birmingham, Ala.
Condition December 31, 1925, as Shown by Statement Filed.
Amount of Capital paid in cash $100,000.00
Amount Ledger Assets Dec. 31st previous year, $258,025.33; In
crease paid-up Capital, $1CO,000.00; Total 358,025.33
Income—From Policyholders, $62,541.54; Miscellaneous, $165,-
0916.05; Total 227,637.59
Disbursements—To Policyholders, $4,787.29; Miscellaneous,
$36,923.61: Total 41,710.90
Fire Risks—Written or renewed during year, $91,644,62; In
force 60,276.58
All Other Risks—Written or renewed during year, $17,656.08;
In force 13,725.65
Assets
Mortgage Loans on Real Estate $157,700.00
Value of Bonds and Stocks 245,312.65
Deposited in Trust Companies and Banks not on interest 10,012.52
Agents’ balances, representing business written subsequent to
October 1, 1925 26,781.58
Interest and Rents due and accrued 6,228.05
All other Assets, as detailed in statement 104,147.27
. Total $550,182.07
Less Assets not admitted 1,197.63
Total admitted Assets $548,984.44
Liabilities
Net amount of unpaid losses and claims $ 307.28
Unearned premiums 45,356.38
Estimated amount payable for Federal, State, county and mu
nicipal taxes due or accrued 748.20
Reinsurance and return premiums due other companies 7 418.49
All other liabilities, as detailed in statement *119 16
Total amount of all Liabilities except Capital $ 53,949.51
Capital actually paid up in cash $200,000.00
Surplus over all liabilities 295,034.93
Surplus as regards Policyholders 495,034.93
Total Liabilities $548,984 44
Pres.’ H. G. Sdbels; Secy., T. K. Byrne; Seas”,''Chas.' van^ Cornell]
Home Office: Birmingham, Ala.
Attorn^ for serWce: STACEY W. WADE, Insurance Commissioner,
Raleigh, North Carolina.
Manager for North Carolina: Home Office.
(Seal)
STATE OF NORTH CAROLINA,
INSURANCE DEPARTMENT,
I, STACEY W. WADE. Insurance Commissioner. do^Sy
the abt^e 1^ a true and correct abstract of the statement of the
mrmmgh^ Fire Insurance Company, of Birmingham, Alabama, filed with
December 1^25 ® condition of said Company on the 31st day of
Witness my hand and official seal, the day and year above written.
STACEY W. WADE, Insurance Commissioner.
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