Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1851-02-24
For the Portage Sentinel
lARMIR'S MUTUAL INSURAB(E CO.
OF PORTAGE COUNTY.

A Bill to charter this institution was granted
by our State Legislature, January 22d, and ths
Directors intend to organize and commence issu-
ing Policies as soon as the first of May next
To give an idea of our terms, we propose to
insure farmers dwelling houses, barns, hay and
grain, &C., five years for premium note of
per cent; and in advance sum in cash equal
to 40 per cent? of the premium note
This Company is truly what its name imports,
the Farmers Insurance Company-for by its
act of incorporation 1t is prohibited from insuring
any except what is strictly farming property
Sec, Is Of Act of Incorporation is as folIows:-
No building other property shall be insured by
said Company, except dwelling honses, out
houses, barns, and other buildings connected
with and appertaining to farms and grain, and
all other produce remaining in such building or
upon the farm, and such household furniture,
farming implements, and other property apper-
tanning to farms as may be in such buildings or
on the farm to which they appertain; and no one
risk exceeding two thousand dollars shall be
taken by this Company.
The Charters of all other Farmers Companies
organized in this State permit them to insure
Colleges, Boarding. houses, Academies, Church.
| es, School houses, Taverns, Tanneries, &C.,
&c, which are not farming property. Hence
the farmer who insures in such company must
become security for property much more exposed
and hazardous than his own.
l
pany over most other companies can easily be
seen by comparing our Charter with that Of other
companies Compare Sec 5, also and 9Th, +,
Is and 18th sections. In this way the farmer
can ascertain to his satisfaction which company
to patronize.
| / wouldsay to the farmers of Portage County,
we can build up and support an insurance COM
pany, and that in our own county; but all this
depends upon your patronage. You are no longer
Obliged to insure in companies of other States, ol
| even those of other Counties. There ale nu'
| merous citizens of this County who are insured
in the Western farmers Mutual at Batavia.
Genesee Co., N. Y. That consider to be the
best company Of which have any knowledge
and in the production Of this Company. it was
our intent to form one on very near the same
principle. ] have taken an extract from then
Sixth Annual Report, which reads as follows
With more than Il, 900 outstanding policies
covering more than i ,000,0 900 of property, thi:
company has paid all losses and expenses, anc
now has surplus to pay future losses of more
than $4,000, which precludes all probabillt!
!, that any assessment upon the premium notes
will hereafter become necessary-no such assess
ments having ever been MADE SINCE Inc com
!, pany was organized"
, Nv this report we see there is an aecumu
latin1 cash capital their Charter provides for th
| distribution of funds at the expiration OF thel
Charter; and there are companies IN this Stat
that have accumulating funds-but there are nj
provision made for its division. Should fortun
, attend ms az If has the Genesee Farmers Com
y pany, we shall dispose of our funds in the same
manner they are to do, agreeable to Sec. 10th
!, our act.
l., Amy person wishing to insure, or deslrous o
!. obtaining further information concerning tn
j. Company, may apply personally or by letter t.
GEO. W. HINcKLEY, Agent.
Hiram, Portage Co, @.