Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
Page 5 · column 2 of 4 · from the scan, no model involved

DISBURSEMENTS
Losses paid for fires_$ 418.64 Secretary and Treasurer Salary __ 1,650.00 Directors’ Fee_ 335.30 Appraisers’ Fee_ 248.00 Printing and Stationery_ 18.05 Postage - 43.50 Miscellaneous Expenses_ 63.00
TOTAL.$2,776.49
69.6%