Constantine republican. [volume] (Constantine, Mich.) 1836-1838, 1838-01-17
ANOTHER.-Tho Kal.

"ELPONEA NOTHER.-T Kali
IL 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.
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 be, any
money making scheme connected with it. 1t is
nothing more nor less than voluntary associa.
ton of individuals pledged to bear each others
losses in just and equitable proportions,-or, in
other words, to "hclp one another"
Every man who insures in this Company, be-
comes member of it, and is directly interested
in its prosperity. At the time OF making his APP
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 a LIZ
per cent, he gives his note (not on interesD
for 500 50,-six per cent of which, s. 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, the capital of the Com.
pany is made up of its "prenium 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
instalments,-in the one case he pays a 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
surdnce the persons insured are 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 boon testodein Vermont
and other Eastern states, and the result has been
| a 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 come for
ward and partake of, as well as contribute to the
| advantages derived from mutual assistance
| All communications may be addressed to the sec
rotary, at Kalamazoo, who will give all necessary
information to agents and othefs.
| JAMES SMITH, Jr., President.
z. PLATT, Secretary
The following is list of local agents who will
receive applications for insurance from persons in
their vicinity:
Ann Arbor, E. w. Morgan; Jacksonburgh
J. G. Bailey Ypsanti, Marcus Lane; TIC.
cumsoh, Andrew Stacy; Clinton, Charles Chan
der; Marshall Charles T.. Gorham; Battle
Creek, Cephas A. Smith Allegan, Milo Wins.
low; White Pigeon, Austin Chaplin; Centre
| vile, Thos. w. Langley; Constantine, James T.
Johnson; Schoolcraft, L. L. Brown; Monroe
Alpheus Felch Detroit, ]. M. Howard st
Joseph, Chas. A. Morton; Niles, Vincent L.
Bradford.
The Company arc dcsirous 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 %, 1897. 81