Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1879-09-29
LET THOSE INSURED READ.

In preparing their twenty-nlnth annual report the
Directors of the Farmers Mutual take pleasure in the
fact that the business of the company shows healthy
and encouraging increase while the losses have been
moderate considering the risk the tendency
of the times and the experience of other companies
From the Treasurers report it will be seen that the
number of policies issued is 2Sl7 gam of O56 over
the proceeding year. The amount insured has Ike
wise increased over 81 100000 and premium notes
exhibit gain OF S6260023. This fattering exhibit,
considering the srngeney of the times and the sharp
and too often INSCRIPTIONS and reckless competition
of rival companies, whose name is legion may well
inspire good degree OF hope and confidence for the
future. AS is probably known to all the members of
the company in October of last year, by unanimous
of the Directors. rule was so modified as to
provide thereafter for meeting the losses and expenses
OF company by annual assessments instead of advance
payments heretofore. This action seemed necessi-
tated by the extreme scarcity Of money! rendering 1t
difficult for the average farmer to advance his insurance
premium for five years. And another equally orcible
for the change found in the fact that in
recent years. the losses of all companies have
increased so largely, and become variable wthal as
TO render it an utter impossiby to fix in advance for
five years percentage that will meet the demand and
also bear mutually and equitaby upon all the members
BY the practice strict mutually secured, and
member is left TO feel that he ]. unustly made to
bear the burdens Of others. This STEP the directors
have the satisfaction of believing. has with almost
unanimous approval of our members, and that it is
endorsed by the general public is well atested by the
fact of largely increased business over the years
Immediately preceding.
The unprecedented losses OF 1876 and 1877 having
largely anu tne cD3Ose from
the advance pay to the plan having reduced
our premium receipts during the last nine months
from twenty to three per cent alternative left
but to lay assessment to meet losses and ex-
ponses the details of which will be found elsewhere
In doing this the directors have taken the pains
to preserve the rights Of all and to make the burden
light possible upon those legally and equitably
liable to bear it. While the assessment is nominally
five per cent. upon the premium note, it decreases
from that amount down to onefourth of per cent
according to date of policy and in affects those
I'M lni1 ~ how
funds standing to their credit equal the assessment
As the full five per cent will still leave the total cost
of insurance to those affected thereby far less than the
average of other standard companies we trust this
assessment will be cheerfuy received and promptly
paid and when the company is fairly bridged over on
the assessment plan, if Its old friends stand manuy
by it. confidently predict measure of in
the future that shall even eclipse that OF the past
If any member OF the company feels aggrieved be-
his note is assessed when he had reason hope
it would not be- our reply that his grievance lies
against the necessities OF the and not against the
| directors of the company. Every intelligent person
we'll knows that the aggregate loss by fire throughout
the country has increased to alarming extent during
the last few years. and that all insurance companies
have shared in greater smaller proportion these
excessive losses. The Farmers Mutual has suffered
in less proportion than most other companies to be
sure from this epidemic of fires Its directors have
administered its affairs during this trying period strict
" according to the charter and bylaws of the company
| so far as they know and believe. The expenses of
transactng Its large and complicated business have
been kept at lowest possible point The losses have
been settled and paid with all atainable fairness and
| promptness No member of the company has been
| knowingly wronged Not dollar of the funds have
been stolen. or diverted from their legitimate use.
Strengthened, therefore in the conscious recude OF
their purposes and doings the directors know of no
way but go right onward in the faithful discharge OF
their trust believing that the members of the company
will heartily approve their action even to the prompt
payment of all assessments necessarily lai.
! With the adoption of the annual assessment plan
measures at the same time instituted and have
since been vigorously followed up. to reexamine and
cut down existing assurances to present valuations
and with the most hatterng results We have good
reasons to believe that the risks standing upon
| the books of the company are in healthy and
| promising condition than ever before and may
therefore reasonably hope for decrease in losses fol
| the future.
| The amount appearing as in the TreasGrer's hands
| is the balance due policies upon which twenty pei
| cent. premium was paid We trust member viii
send in his assessment until he has official notice O
the amount and time and manner OF payment. Endless
confusion arises unless ourplan observed due notice
of which will be given each member While the bust
ness of the company is rule transacted upor
the annual assessment plan is nevertheless optiona
with the to adopt that plan pay the twent,
per cent. in advance as formerly.