Constantine republican. [volume] (Constantine, Mich.) 1836-1838, 1837-08-02

III
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
associate with them.
Tho principles of such company, when un-
derstood cannot fail to commend themselves to
the favor of the public. 1t is not a moneycd
monopoly nor is there, nor can there be, any
money making scheme connected with it. IL is
nothing moro nor less than a 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 insures in this Company be-
comes member of it, and is directly Interested
in its prosperity. At tho 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 tho premium is governed by the amount
insured and tho 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 INTEREST,"
for SS22 50,-six per cent of which, 81 35, is
paid at the time; and until loss is sustained by
tho Company, he is not required TO pay any
further premium during tho continuance of his
insurance, which is in all cases for six years.
thus it will be perceived, tho capital Of tho Con-.
pany is made up of its "premum notes." which
will always be sufficient in amount to indemnify
against any loss that may happen. And the adj
vantage of this system over other companies. to
the person insured, consists in this that instead
of paying tho 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
instalments,-in the one case he pays a cash pro-
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
surance the persons insured arc the only stock
holders, and the individual saves in his own
pocket, what by the other plan he is required to
pay out of it. The practical operation of this
system of insurance has been tested in Vermont
and other Eastern statcs and the result has been
n saving to the insured of an average of three
quarters of the amount usually required to insure
in stock companies.
The Company invite the public to como for
ward and partake of, as well as contribute to the
advantages derived from mutual assistance
All communications may DO addressed to the Sec
rotary, at Kalamazoo, who will give all necessary
information to agents and others.
JAMES SMITH, Jr., President
z. PLATT, Secretary.
The following is a list Of local agents who will
receive applications for insurance from persons in
their vicinity:
Ann Arbor, e. w. Morgan; Jaclssonburgf,
]. C. Bailey; Ypsilanti, Marcus Lane; Tie.
cumsch, Andrew Stacy; Clinton, Charles Chan
der; Marshall, Charles II. Gorham; Battle
Creek, Cephas A. Smith Allcgan, Milo Wins
low; White Pigeon, Austin Chaplin; Centre
vile, Thos. w. Langley; Constantine, James E
Johnson; Schoolcraft, L. L. Brown; Monroe,
Alpheus Felch; Detroit, J. M. Howard; ST.
Joseph, Chas. A. Morton; Niles, Vincent L.
Bradford.
The Company arc DESTROYS Of being furnished
with the names of responsible persons who viii
act, and act efficiently, as agents in towns
where appointments have not already been made
Kalamazoo, July %, 1887. 81