Vermont farmer. [volume] (Newport, Orleans County, Vt.) 1870-1877, 1871-12-23
miscellaneous.


IL lllt tBllitJiOu VI lHc uutStlOn.
Light is beginning to dawn where darkness
has hitherto prevailed. The public is be-
coming thoroughly enlightened, through the
medium of the press, us to the merits and
dement's of the various corporations known
us insurance companies Chicago's calamity
has been the means of exposing to the public
gaze the loathsome rottenness of many of
those concerns which have been swindling
the people by false representations. The
wheat is now being thoroughly sifted from
the chafl, and if the result shall be to enable
persons hereafter to distinguish between the
wheat and the chat, u great good will be ac-
compished. The Prairic Fdrmer is GER
bold exposure it makes of bogus insurance
companies.
My object is to call the attention of farmers
to the advantage of establishing home insur-
ance companies, and | know of no better
way to show those advantages than by giving
II brief statement of the workings of such II
company in the vicinity where | reside.
A little more than six years ago, II few far
mers in the town of Palmyra, Lee Co., H.,
proposed establishing II mutual protection
home company on the principle of II joint
pledge to pay each others losses by fire.
They wished to establish II company on the
simplest plan possible, merely for the insur-
ance of farmers property, II company which
should have nothing to do with any other
kind of property considered risky, and one
which should not attempt to spread itself
over so much territory us to be in danger of
falling to pieces by its own weight. A char
ter was framed on the model of II system
sylvania, and by an act of the State Legisla-
turc, the company became duly Incorporated
The following extract from IN article in the
August number of the Rock River Fdrmer,
gives an explicit statement of the practical
operations of this company:
This company has now been in existence
six years, during which time there has been
but single instance of loss by fire among its
members. There have been four hundred
and fifteen policies issued, and the property
insured is valued ut $4,000. There are
funds on hand drawing interest to the amount
Oh SIUU. III inc one lllSttHce Oh II Ire, lnC
building burned was valued mt II thousand
dollars and the assessment on the members
was fifteen mills on dollar, on the amount
for which they were insured. Previous to
this there were some who doubted how IN
assessment would be met, whether there
would not be some reluctant members, but
in every case it was promptly and cheerfully
paid. This company had IL charter from the
Legislature, and is required to make IL semi
, annual statement to the state treasurer. The
officers consist of thirteen managers, who
, chose from among their number president
treasurer and secretary-the two last named
combined in one officer. The president re
1 cclves 20 cents for each policy examined ant
) SO 90 per diem while doing business for TIN
, company. The secretary receives 25 cent
for each policy issued, and 25 cents per hun
t drcd words for writing. The managers re
eeive 81 so per diem while on company duty
and $500 for filling out I'M application ant
visiting premises. The rates of insuranc
V are 800 on each $1,000 worth of propert
r insured, and membership fee of Sl.00. TIL