Constantine republican. [volume] (Constantine, Mich.) 1836-1838, 1837-10-25

n n amaZoo Mutual insurance Company in
corporated for the purpose Of insurance against
fire, in the state of Michigan, is now in success
full operation. Their office is in the village of
Kalamazoo, and it is their intention to establish
an agency in every village throughout the state,
to receive the applications Of persons wishing to
associ to with them
The principles of such company, when un-
derstood cannot fail to commend themselves to
the favor of the public. 1t is not a moneyed
monopoly;-nor is there, nor can there lie, any
money-n king scheme connected with it. II is
nothing moro nor less than voluntary associa-
ton of individuals pledged to bear each others
losses in just and equitable proportions,-or, in
other words, to % help one another"
Every man who insurcs in this Company, be-
comes a member Of it, and is directly interested
in its prosperity. At the time Of making his ap-
plication, he is required to give his note, with
approved security, for the premium of insurance,
and which is called his " premium note" The
rate of the premium is governed by the amount
insured and the hazard of the risk For in
stance if farmer wishes to insure $500 upon
his barn and contents, the rate of which is 1-2
per cent, he gives his note mot on intcres)
| for S22 5O,-six per cent of which, ST. 35, is
paid at the time and until loss is sustained by
the Company, he is not required to pay any
further premium during the continuance of his
insurance, which is in all cases for six years.
thus it will be perceived, tho capital of the Com.
pany is made up of its "premium notes." which
will always be sufficient in amount to indemnify
against any loss that may happen And the ad.
| vantage Of this system over other companies. to
the person insured consists in this, that inStead
of paying the cash for his premium, he gives his
note, and may never be called for payment of it.
| except in case of losses, and even then by small
instaments,-in the one case he pays cash pre-
| MUM to swell the Golfers of a rich monopoly
| and to enlarge the dividends of wealthy stock
| holders ;-Whereas, by the plan of mutual in
suranee the persons insured are the only stock
holders, and the individual saves in his owr
pocket, what by the other plan he is required tc
pay out of it. The practical operation of THU
| system of insurance has been tested in Vernon
and other Eastern states, and the result has beer
saving to the insured of an average of three
quarters of the amount usually required to insur
| in stock companies.
The Company invite the public TO come for
ward and partake of, as well as contribute to tn
advantages derived from mutual assistance
All communications may be addressed to the sec
rotary, at Kalamazoo, who win give all necessar,
information TO agents and others.
JAMES SMITH, Jr., President.
z. PLATT, Secretary.
The following is list of local agents who will
receive applications for insurance from persons ii
| their vicinity:
Ann Arbor, E. w. Morgan; Jacksonburgf
]. G. Bailey; Ypslanti, Marcus Lane; tt
cumseh, Andrew Stacy; Clinton, Charles Chan
der; Marshall, Charles T. Gorham; Battl
Creek, Cephas A. Smith Allegan, Milo Wins
lows White Pigeon, Austin Chaplin Centre
|, vile, Thos. w Langley; Constantine, James I
johnson Schoolcraft, f. l.. Brown; Monro'
Alpheus .Felch; Detroit, J. M. Howard; 81
Joseph, Chas. A. Morton; Niles, Vincent /
Bradford. ca
The Company are DESTROYS Of being furnishe
with the names Of responsible persons who wi
act, and act efficiently, as agents in town
where appointments have not already been mad'
Kalamazoo, July %, 1887 81