The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1885-05-03
IT SHOWS UP SPLENDIDLY.
LoNeWEws FIRE ASSOCIATION,
4 Statement that Presents a Healthy
. Surplus for the Investors and In
sures Protection for Those ON
Whom Risks are Held.

Inc Mutual Fire Shielders Assoois.
ZION of America, located at Longyiew
Texas, was chartered June s, 1888.
Inc object is the protection, on the
cooperative plan, OF its members
against loss or damage by fire, OF their
residences and household goods, at the
actual cost Of insuring sseh property.
Az only. accepts risks on dwellings and
household goods.
The fact that this association In less
than two years has sustained but six
Total losses and and one damage, and
that these Except No. 6, now pending)
4 nave all been adjusted and settled with
pun TWO assessments upon the member
pershlp, shows cOnclusively the vast
superiority OF the plan of this associa-
uonoYer those working on the old plan or
sven other co-o peraliYe associations that
& accept risks ON all classes OF property,
II you are associated with risks on bus.
mess houses, gins, mills, etc, the losses
z viii be much greater, and OF course the
assessments more frequent, hence the
cost great deaf more.
AS to the advantages gained by co.
operative insurance, as we'll as the SUI
i
above other uiutuas, the following fig
ures will give the clearest idea:
From Ai published reports OF capital
STOCK insurance companiee, doing bust
ness in five states IN lSS2.73.Si, we find:
Premiums collected .....,....... $B,OI3 Og2
Losses incurred 8g0s8I1
Surplus over losses .... s8.Osi AIS
These companies assumed all Glasses
oil risks. Az 20 the difference between
them and those that accept resident
risks only, the following figures are
given
From the report of the Dwelling
House Capital stock Insurance com,
pany, OF Boston, Massachusetts,, doing
business in three states in 1884, we find:
Losses paid ....',,.............. " - i,,47i
Surplus above losses ............... s229OO
Now, as the actual cost, II is estimated
Jhat ~ per cent. Of The premium, which
averages " on the 800, is necessary to
meet expenses. Then, according TO the
above hgures, we have:
Expense account Observation-Disclosures. S7,8l2
Loss Account ............... I74
Total, $,7sG, actual cost of insurance,
against SA,374 collected, showing bal,
4 Ance in fav OF cooperative insurance,
on residences only, of $l5,5SS
Notwithstanding tho above figures
Il show rather low degree OF hazard on
Residence property, yet the fact that they
are frequently burned is OF sufficient
importance that no individual is with
out excuse should he sustain q loss.
without insurance, especially when the
cost In this association is only nominal.
AS TO the six total losses sustained by
the Fire ShieldelS association up to
TINS writing (loss No. 6 now pendiug)
Tour nave beon'on vacant property,
Ihe management seeing this trouble
has now ruled against all vacant prop
erty, and require the membership to
Keep their houses occupied In order TO
Keep up their protection. Had this been
their ruling from the first they would
only have sustained up to the present,
Two losses and ono damage, which could
nave been met with advance assess
ments, or at least only one assessment
would have been called up to the pres
emit.
Though young, this association has
not been without its troubles. 1t com
menced active operations about Jauu
airy l, 1884, and up to MaN, 1881, was
growing 30 rapidly, and it's plan being
esteemed so tsvorably, that some OF its
opponents complained to the state au.
thorities that 1t was transacting an ille-
Bhl DuslnesS., Inohe Complaints were OF
such nature As to induce said authori-
ties TO instruct an attorney to investi-
gate the charges. Thus, the active
working was materially interferred
with until the action Of the last leglsla-
tute, in passing senate bill Ne. l3S, set
aside all such difficulties, and recOg
nlzed the legitimate rights OF cooper
RtlVe insurance associations, requiring
only an annual report to the commits
sioner of insurance.
The management has now resumed
businessln earnest, and in consequence
oil brilliant career tor tho association
In tho future. an Office will soon be es-
tablished In Dallas, with w. G.. Currie
IN charge. and others i'm all
the towns and cities through
cut the stale. Owners of dwell.
ing houses would do well TO investigate
the ADVANTAGES offered by this assecia-
ton before taking other insurance.