The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1851-11-12
Farmers Mutual Fire Insurance Co.
WONTpELIER, vt.

Our attention has been directed to the |
subject Of Fire Insurance by examining the
FRS, Annual Report Of the Directors Of
the Farmers Mutual Fire Insurance Com
pany, made up to the lst of August last
and the principles upon which its affairs
are conducted by its efficient officers and
Board Of Directors. The report is very
full aud plain, and clearly demonstrates
the principles on which the company is
based, which appear to be eminently just
and equitable 10 all insured.
BY the Charter The property is divided
into two separate and distinct classes, each
class being liable for its own losses and ex-
penses, and not each for the othe, while
the expenses not incident 10 either class,
are borne by each in proportion to the a.
mount insured.
The FARMERS CLASS has been in oper>
alton less than 18 months, having issued
$3.50 Policies. insuring property to the
amount Of S2,470,0 76,00. Premium notes
S54 ,S53,5s. Cash premiums collected in
advance and interest on same, $40, 1899.
After deducting wi ole amount Of losses,
expenses aud indictments, amounting 10
s45SS,73 il leaves carh capital on hand
; of $6isl ,26.-The losses during the Whole
period amount TO only $l,773,53.
In this class policies are issued for five
\ years, and nothing but dwellin g houses,
i harms and out buildings, aud personal prop
: erly in like buildings, are insured.
Upon this description of property, the
losses are comparatively light, and the
y amount necessary TO NEE. losses and ex-
penses may be more nearly calculated
II than upon The moro hazardous classes oil
J. property. The assessments would also
II he trihing, and would, in great measure
e be consumed in collecting. For this rea
% son, the Directors have adopted the pla 7
IF taking aduance pay 10 meet the lossc'
during good portion of the FIVE years
and thus avoid the incalculable trouble
y expense and losses incurred by companie
! that depend upon yearly assessments
h The amount required in advance. however
10 is shown by this ropor, 10 be bu: abou
N oNE-mALF shat il has cos, 10 insure tn
10 same am cunt The last five years in the 9th
10 or State company.
II, The advantages Of having money o.
hand to meet losses az soon as ascerlained
have been found to be very great-partic
~ ulary in replacing farm property at Ger
10 tain Seasons Of the year Certificates t
u this effect from several who have sustaine
y losses, and, also. highly commencing tn
n, the honorable course of the Directors i
settling the same, are appended to The Re
he port.
The MERCHANTS AND MECHANICS Clas
has been in successful operation since III
18Th Of Feb. last, and up 10 the let OF Al
" gust, had issued 52l Policies. iusurin
d. property to the amout Of Sl47,I62,00 =
S. premiums and assessments ordered, 50
ch 973,3S-Totnl amount of losses, EXPENSE
and ATTACHMENTS deducted, leaves u balane
,;s of S36O,49 in Treasurers hands. I'll
nv l. sses in this class, have been SlS22,75.
Ia lnts ClahS pohtiOS "'O 'SS"SN "'e
for five years, and all descriptions of prof.
80 erty, not of an extra hazardous characte
Sc are insured, ala rate corresponding wit
MS their respective risks.
IL. The properly insured in this class, is
nj such character, as 10 renler The loss'
-, more variable. Therefore the Director
have adopted the practise of taking but
. small amount in advance. (only about on
half the amount taken by ell other Con
on panies in the Sra,eD depending main
40. uron assessments 10 meet the losses. TT
-. rates adopted for Premium notes is on
fourth less than in the other State compar
~ so tina, an assessment, Of per cent.
lie this company requires the Insured to pt
tie no more money than one of 3 per cent
'e> the other.
In this class, property is insured for Tire
fourihs its cash value-instead oltwo>thir,
lie as in all other companies in the State,
ial thus affording greater security 10 the insur
!ht Stocks ofgoods, &C., are insured und
lie the general head of Stock in Trade, ne
I'm ming TO include Dry Goods, Groceries al
he Country Produce while other compani
H. require a separate sum upon these lhr
descriptions oil Observation-Disclosures 10 I
great disadvantage Of the insured.
ok BY comparing this Report with that
XXI the Other State company, we find that
entire expenses, since procuring the chart
(two years the 18Th Of November insi.,)
'as GLIDING large outlay for office furnitur
re- books, printing, &C., which will last
es. years lie come, amounts TO only S329o,S
willie the expen SEES Of the other State c."
pany during the last year amounted
d" $6276,0l and the entire losses expenses al
a5atements Of both classes oil this compar
w.. from its commencement 10 the LIST oil AN
1851, are not so much by several hundr
dollars as the expenses and abafements oil Ii
ms company the past year,
"a- The principles and standing Of this col
"n' pany, ne shown by This report, are su
10 as commend themselves 10 the palrona
'"s Of the people OF Vermont.
ou
ing o. Ma. BUTTERrIELD, the celebr
OF ted Indian cancer aud eve doctor. "
''' be at the Vermont Hotel on Monday a
ur. Tuesday next. the l7lh and 18th. vii
A M. fail D,a loKmax annointmant a