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Chester Mutual Insurance Company
| Name | Chester Mutual Insurance Company |
| Ortssitz | Chester (Pa.) |
| Straße | Market Street |
| Art des Unternehmens | Versicherung |
| Quellenangaben | [Ashmead's history of Delaware County (1884) 4076] |
| Zeit |
Ereignis |
| Febr. 1869 |
Genehmigung zur Errichtung einer Aktiengesellschaft |
| Febr. 1869 |
Die Genehmigung zur Errichtung einer Aktiengesellschaft wird ungültig, da sie nicht in Anspruch genommen wurde |
| 26.02.1874 |
Eingetragen beim Gericht in Deleware County |
| 05.03.1874 |
Erste Sitzung des Rats der Direktoren |
| Produkt |
ab |
Bem. |
bis |
Bem. |
Kommentar |
| Versicherungen |
1874 |
Beginn |
1884 |
[Ashmead] |
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| ZEIT | 1884 |
| THEMA | Historische Entwicklung |
| TEXT | After the 01.01.1874 the projectors of the stock company, together with other persons desiring the organization of an underwriting association on the mutual plan, formed the Chester Mutual Insurance Company, the original subscribers being John M. Broomall, William Booth, John Larkin, Jr., William Ward, John O. Deshong, George Broomall, David Trainer & Sons, Samuel Montgomery, Mortimer H. Bickley, George Baker, William B. Broomall, Benjamin F. Baker, Perciphor Baker, Lewis & Parker, Lewis M. Larkin, B. Gartside & Sons, David S. Bunting, James Irving, Jonathan and Charles D. Pennell, George M. Booth, Henry L. Donaldson, George M. Pardoe, Abraham Blakeley, and Morton & Black. The first meeting of the subscribers was held March 5, 1874, when a board of directors was elected, consisting of John Larkin, Jr., George Broomall, William Ward, J. Newlin Trainer, Mortimer H. Bickley, William Booth, Perciphor Baker, William B. Broomall, James Irving, George M. Pardoe, Benjamin Gartside, and William D. H. Serrill. John Larkin, Jr., was elected president, Mortimer H. Bickley, vice-president, and George M. Booth secretary and treasurer. The board of directors from that date to the present has been changed as follows: In 1877, John Sharpless was substituted in room of William Booth, who declined re-election; in 1878, Frederick J. Hinkson in place of William Ward, who desired to retire from the board, and in the same year Jonathan Pennell succeeded to the place formerly held by George M. Pardoe; 1880, Benjamin F. Baker was chosen to the seat made vacant by the death of Judge Hinkson; 1881, Samuel A. Dyer was elected in the room of Perciphor Baker, deceased; in 1884, John Larkin, Jr., declined re-election, and Henry L. Donaldson was chosen in his stead, and the same year, Amos Gartside was elected in place of Benjamin Gartside, resigned. On Jan. 1, 1884, John Larkin, Jr., declined to continue to act as president, a position he had held since the organization of the company, and Jonathan Pennell was elected to that office. At the first regular meeting of the directors, in 1874, it was decided that the company should effect insurance to the amount of one hundred and forty-six thousand dollars, and on April 1, 1874, the first policy was issued. A singular circumstance was that the first policy issued by the Chester Mutual Insurance Company was to John M. Broomall, Jr., on stock in the building at the northwest corner of Market Square, Chester, and the building was insured by his father, George Broomall, in the Delaware County Mutual Insurance Company, the policy being the first issued by the latter corporation in 1835. The business of the Chester Mutual has been almost exclusively confined to Delaware County, the risks judiciously distributed, and the amounts limited, desiring to transact a safe rather than a large business. This policy gave the company credit in the beginning, and not only enabled it to accumulate a surplus fund sufficient to meet any ordinary demand but placed the Chester Mutual in good standing with the best similar insurance companies in the State. When the company was organized it occupied a part of the law-office of Ward & Broomall, but in October, 1875, it leased the back part of the building at the southeast corner of Market Square, where it continued until June, 1881, when it was removed to more spacious rooms in the front of the same building. |
| QUELLE | Ashmead's history of Delaware County (1884) 407] |
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