Waterloo Region Generations
A record of the people of Waterloo Region, Ontario.

Mercantile Fire Insurance Co. Waterloo

Bef 1886 - Yes, date unknown

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  • Name Mercantile Fire Insurance Co. Waterloo 
    Born Bef 1886 
    Gender Unknown 
    Died Yes, date unknown 
    Person ID I11  Businesses
    Last Modified 6 Sep 2012 

  • Notes 
    • Mercantile Fire Insurance Co., P.H. Sims, Secretary - Among the insurance companies which are worthy of generous support is the Mercantile Fire Insurance Company, of Waterloo, which has been established for the past ten years. The subscribed capital of the Company is $200,000; paid up in cash, $20,000, and Government deposit, $20,100. The record for the Company has been excellent, and it has steadily but constantly advanced. The losses for 1885 were below the average, being only 49 percent of the net income, and after paying a 10 percent dividend on the paid up capital, there was on hand, over and above the paid up stock, an amount of at least 110 percent greater than required to reinsure all risks. There was a gain in business during 1885 over 1884 of $10,099.52 in the premium income, and a gain in assets of $14,465.57.  During the year 5,756 policies and renewals were issued for insurances amounting to $5, 951,556, on which premiums were received in the sum of $89,131.86, and including interest on investments, made the total receipts for the year $92,301.05. The total insurance in force on Dec 31st, 1885, was $6,906,795, and the reinsurance liability of these risks $37,957.38. The officers of the Company are, J.E. Bowman, Esq., President; John Shuh, Esq., Vice-President; P.H. Sims, Esq., Secretary; James Lockie, Esq., Inspector, and Alexander Millar, Esq., Solicitor. Mr. Sims is a gentleman eminently qualified for the position.1a

      1aIndustries of Canada Historcial and Commercial Sketches Hamilton and Environs 1886