Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1882-09-29
The vermont Accident Association,
RutIand, VI.

The fiscal year OF this association closed
August 0. At the annual meeting, held on
that day, the secretary and treasurers re-
ports were approved and vote for directors
resulted in the reelection OF the following
named gentlemen: j. NJ. Haven, Redfield
Proctor, j. b. Page, w. II. Dubois. George
Nichols, j. w. Hobart, NJ. s. Colburn, j. A.
Mead, Nj. j. Francisco and j. b. Mead AT
subsequent meeting the directors elected
j. nj. Haven, president
Redfield Proctor, list vice president
j. b. Mead, ed vice-president.
NJ. j, Francisco, secretary and treasurer.
John A. Mead, medical director.
The prosperity of the association during
| the past year has beeen remarkable, although
| from the staff there was developed the most
bitter luminosity on the part OF agents OF
stock companies In the accident business,
| and the most INSCRIPTIONS statements were
made in the hope of compelling this assocla-
| ton to succumb to the pressure. In the face
of such opposition they have steadily advan-
| ced step by step until they have now fully
organized and firmly planted association,
which has already proved blessing TO hun
dreds OF the citizens of Vermont.
One of the largest stock companies paid
their policy-holders for dividends, salaries,
expenses, ETC., about "a per cent, while this
association has paid policy-holders about Al
per cent, and the total expenses, salaries,
printing, etc., have only been about 90 per
cent, and it appears that they hare paid every
claim IN full, and paid pohcp-holders 20 per
cent more than the stock company.
The experience and records Of the bust
ness for years show that certain number
are injured out Of every thousand insured,
and the risk is the same year after year.
| That is, Il man is NO more liable TO an acct
dent at fifty than the young man OF twenty
years therefore, the objection raised against
life companies on the cooperative plan, that
their liabilities increase as the members
grow older and larger proportion die, does
not apply to accident insurance and can no,
be sustained, as the liability of an accident Il
the same after the member has been insured fol
twenty five years that it was the first year.
The circulars and engravlngs which have
been SO lavishly distributed in Vermont
about cooperative companies do not in any
respect reflect fupon or represent the plar
upon which this ASSOCIATION is doing bust
ness, as its basis is just as different from
cooperative life company, as that is from
the plans of a stock company, and this hui
and cry was made in hopes that the public
would infer that the plans and principles
upon which they were working were thu
same and subject to the same objections, ant
thus create u prejudice against this associa
ton. The statement has baen extensively
circulated that they had been refused admis
sion to various States They have nevc
filed report asking admission to any State
When they deem 1t desirable to do so, the
will enter such States as may seem advisable
and profitable
Can single case be shown where an asso
citation on the assessment plan doing only Al
accident business has failed. 1t is not lif
insurance company, but an association 10
! indemnifying members against loss OF tim
when totally disabled by an accident.
The directors are men of experience ant
wealth, who have been successful in busi
ness, who have regulations to sustain aod in
tend to manage this association legtimate
and honorably.
An accident association which is now on
of the largest in the United States only issue
700 policies during the first three years OF ii
business, and the stock company whic
, claims to he the largest in the world, after
business of nearly fifteen years in this State
, and all their old business to aid them, onl
made net gain of $50 policies during tn
year. While this association, without an
old business to start with, and agents to al
point, have issued 1897 policies, making
gain for the years business, Of more tina
double that OF the stock company.
They have made but three assessment
a during the year, have paid all indemnit
r claims in full as soon as proofs were al
, proved also one death loss. All of wht
has cost their policy holders only about ha
as much as charged by stock companic
/. While the fact has been fully demonstrate
4 that their basis of business is sound an
practical, and destined to become one of Il
strong institutions of the State.
!. Below will be found the reports of Il
=, auditing and executive committees:
% We have examined the books of NJ.
:, Francisco, secretary and treasurer, ar
= =. checked his accounts, and report them as b
, ing satisfactory in all respects, with prop
!, vouchers for all receipts and disbursement
e Of cash. and the association in very pro
- porous condition.
J. Auditing committee-W. H. Dubois, Re
II field Proctor, J. w. Hobart.
We have examined the loss books and fiji
claims for over $1,000 from parties who ha'
been injured and asked for relief and tn
the SAME have been paid in full and prop
receipts taken therefor. We also find til
is all claims where proofs have been approve
Is have been cashed at once without taking Il
, days discount as is customary in stock COZ
y panies, and we do not find any unpaid loss
'e upon the books except those where parti
Is are not yet able to resume work and la
y. not made their proofs for the clam.
=, The years business has been large and sil
~ cessful, and oil indications point 10 pre-
!, porous future.
"a Executive Committee-J. B. Page, &c
y, Nichols, NJ. $. Colburn.
vi D>~snv,al