Lot 336
(Insurance) 1801 Policy From Baltimore Equitable Society. Partly-printed document, accomplished in manuscript, signed by Secretary Joseph Townsend and four other corporation officers, 1 p, on fine laid paper, 19¼"x15½", Baltimore, 1801 June 10. Engraving of a brick and stone building at top (headquarters?) and arched calligraphic heading. Fine; light age yellowing. Insuring inn-keeper William Evans under the provisions of an act of the Maryland legislature in 1794. For depositing with the society a premium of $26.67, Evans' business will be insured for seven years, provided he does not store certain flammable materials. Should the premises "be demolished by fire," Evans will be reimbursed $1333.33 to make repairs. After seven years, Evans' deposit will be refunded, along with his share of any profits that have accrued to the Society in that time. Benjamin Franklin established the first mutual insurance company in Philadelphia in 1752; it remains the oldest mutual insurance company in the U.S. The Baltimore Equitable Society, formed in February 1794, remains the second oldest mutual fire insurance company still in business in America.
Estimated Value $1,500 - 2,500.
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