Constantine republican. [volume] (Constantine, Mich.) 1836-1838, 1838-06-27

IN "a amazoo Mutual Insurance COMPANY in
corporated for the purpose of insurance against
fire, in the state of Michigan, is now IN success.
ful operation. Their office is in the village of
Kalamazoo, and il is their intention TO establish
an agency in every village throughout the state.
to receive ia, applications of persons wishing 10
associut, with them.
The principlesepf such company, when un-
derstood cannot fkil 10 commend themselves To
the favor of tho public. 1t is not a moncycd
monopoly;-nor is there, nor can there be, any
moncy.makmg scheme connected with it. 1t is
nothing more nor less than voluntary associu-
tlon of individuals pladgad TO bear each others
losses in just and equitable proportions, --or, in
other words TO help one unother.nn
Every man who insurcs in this COMPANY, be-
comes member Of it, and is directly interested
in its prosperity. At the time Of making his APP
plication, lie is required to give hts note, with
approved security, for the premium Of Insurance.,
and which is called his "Preminm nofe." The
rat, of the prcminn is governed by tho amount
insured aud the haz lrd Of the risk For in
stance, if f4rmcr wishes to insure $500 upon
his barn and contents, the rate Of which is l-2
per cent, hs gives his note mot on intcresD
for 800 50,-six per cent of which, ST. IS, 10
paid at the time; and until loss is sustained by
the Company, he is not required to pay any,
further premium during ths continuance OF his
insurance, which is in all cases for six years.
thus il will be perceived, tho capital Of the Com.
pany is made up Of its "prcmium notes." which
will always be sufficient in amount to indemnify
against any loss that may happen. And the ad-,
vantage of this ny stem 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
NEUTRALITY-SUSPICIOUS. one case he paysa cash pre-
MUM to swell the coifcrs Of rich monopoly.
and TO enlarge the dividends of wealthy stock
holders ;-Whereas by the plan OF mutual an
surance the persons insured are the only stock
holders, and the individual saves in his own
pocket, what by the other plan he is required 10
pay out of it. The practical operation Of this
system Of insurance has been tested in Vermont
and other Eastern stat IS snd the result has been
a saving to the insured Of nm average OF three
quarters of the amount usually required to insure
in stock companies. az ., -,
Tho company Invite the public TO coma for
ward and par.ake of, as well as contribute to tho
advantages derived from mutual assistance, All
communications may be addressed 10 the secrs-'
tary, at Kalamazoo, who will give nll necessary
information to agents and others. -.
JAMES SMITH, Jr., President.
z. PLArr, Secretary.
The following is list of local agents who will
receive applications for insurance from Pcrnsso
! in Tn ir vicinity:
Ann Arbor, T.. w. Morgan; Jacksonburgh,
J. G. Bailey; Ypsilanti, Marcus Lane; Te-
cumsch, Andrew Stacy; Clinton, Charles Chan
der; Marshall, Charles r. Gorham; Baltic
Creek, Cophas A. Smith; Allegan, Milo Wins
low White Pigeon, Austin Chaplin Centre
vile, Thos w. Langley; Constantine, James L.
Johnson; Schoolcraft, E. L. Brown; Monroe,
Alpheus Fclch Detroit, ]. 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 will
act, and act efficiently as agents in towns
where appointments have not already been made.
Kalamazoo, July %, 1877.