Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1882-09-29
The Vermont Accident Association,
Rutland, VI.

Plimpton, cardinal tidy, / st.
"
The Vermont Accident Association,
Rutland, VI.
The fiscal year of this association closed
August .. At the annual meeting, held on
that day, the secretary and treasurer's reports
were approved, and vote for directors re-.
suited in the reelection Of the following nam.
ed gentlemen: j. NJ Haven, RedReld
Proctor, j. b. Page, w. H. Dubois, George
Nichols, j. w. Hobart, NJ S. Colburn. J. A.
Mead, NJ. j. Francisco and j. b. Mead. At
a subsequent meeting the directors elected
j. M. Haven, president
Redfeld Proctor, LIST vice president.
j. B. Mead, I'd vice president
NJ. j. Francisco, secretary and treasurer.
John A. Mead, medical director.
The prosperity of the association during
the past year has been remarkable, although
from the start there was developed the most
bitter luminosity on the part of agents of stock
companies in the accident business, and tho
most inscriptions statements we're made in
the hope of compelling this association to
succumb TO the pressure In the face of
such opposition they have steadily advanced
step by step until they have now a fully or
ganized and firmly planted association, which
has already proved blessing to hundreds of
the citizens of Vermont
Ono of the largest stock companies paid
their policy holders about 3G per cent, and
paid the stockholders for dividends, salaries,
expenses, etc, about Ga per cent, while this
association has paid about II per cent, and
the total expenses, salaries printing, etc,
have only been about % per cent, and it ap-
pears that they haze pail ere,y claim in full,
and paid policy holders 80 per cent more Man
the stock company.
The experience and records of the business
for years show that a certain number are in
jured out of every thousand insured, and the
risk is the same year after year. That is, a
man is no more liable to an accident at fifty
than the young man of twenty years there
fore, the objection raised against life compa-
MES on the cooperative plan, that their liza
bilities increase as the members grow older
and larger proportion die does not apply
to accident insurance and cannot be sustained
as the liability of an accident is the same af-
ter the member has been insured for twenty
The circulars and engravings which have
been 80 lavshly distributed in Vermont about
cooperative companies do not in any respect
reflect upon or represent the plan upon which
this association is doing business, as it's
basis is just as different from copper
alive life company, as that is from the plans
of stock company, and this hue and cry was
made in hopes that the public would infer
/ that tue plans and principles upon which
they were working were the same and sub
| ject to the same objections, and thus create a
prejudice against this association. The state.
ment has been extensively circulated that
| they had been refused admission to various
states. They have never filed report asking
admission 10 any state. When they deem it
| desirable to do so, they 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 an
accident business has failed. 1t is not a life
insurance company but an association for in
Identifying members against loss of time
when totally disabled by an accident.
The directors are men of experience and
wealth, who have been successful in business,
who have regulations to sustain and intend to
manage this association legitimately and hon
orably.
An accident association which is now one
of the largest in the United States only issued
200 policies during the first three years
of its business, and the stock company
which claims to be the largest in the world,
after business of nearly fifteen years in this
state, and all their old business to aid them,
only made q net gain of $50 policies during
the year. While this association, without any
old business to start with, and agents to APP
point, have issued 2,G27 policies making a
gain for the years business, Of more than
double that of the stock company.
They have made but three assessments dur.
ing the year, have paid all indemnity claims
in full as soon as proofs were approved, also
one death loss. All of which has cost theil
policy holders only about half as much as
charged by stock companies. While the fact
has been fully demonstrated that their basis
of business is sound and practical, and des
tined to becoms one of the strong institutions
of the state
Below will be found the reports of the au-
diting and executive committees:
| We have examined the books Of NJ. J. Francisco
| secretary and treasurer, and checked his accounts
and report them as being satisfactory In all respects
with proper vouchers for oil receipts aud disburse
ments Of cash. aud the association in very prosper
| Gus condition.
| W. II. DUBOIS,
| REDFIRLD PRocToR,
| j.. W. HOBART,
Auditing Committee.
| We have examined the loss books and find claim
for over 5000 from parties who have been injured 1n
full aud proper receipts taken therefor. We also ni
that all claims where proofs have been approved hGu
been cdssd at once without taking the sixty days dis
count as is customary in stock companies, and we d.
| not ind any unpaid losses upon the books excep
those where parties not yet able to resume wOr
and have not made their proofs for the claim.
| The years business has been large and successful
and all indications point to prosperous future.
J. b. PACE,
| GEO. NICHOLS,
| NJ. S. CoLBURN,
| Executive Committee.
| -------
The New England Institute Fair.
The great industrial e1hibition-faF Of the New Eng
aud Manufacturer and Mechanics Institute, whic
| opened in Bosto September G, still continues to at
tract thousands Of visitors. Never before has BOsto
presented to the public vast collection Of indus
trial exhibits; has any former exhibition been
so much national importance. The industries of 2
states of the Union here collected, giving the peo
| pie OF New England an opportunity to study the in
dustres Of our sister states. The processes Of man
ufacture, which so interest not only the mechanics
student but the general public the great attrac
| tons of the exhibition To enumerate the thousan
| interesting exhibits would require columns while T.
fully investigate the many wonders here collected-o
| mechanical skill and inventive ingenuity-wOuld re
| oufre DAVIS Of leisure. The Richmond dispay. Whic