Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1895-02-14
FACTS.
A Clear Presentatlon or the Advan.
tsges u h Farmers' Mutual.

A Clear Presentatlon OF the Advan.
ssges or h Farmers' Mutual.
Elk Point, Feb. ED. COURIER:
Believing that some notice OF the or
ganizatiOn and business of the Farm
er's Mutual Fire Insurance association
of Union county, South Dakota will be
Of interest to your many readers, the
undersigned takes liberty to submit the
following in regard to said association.
The idea Of organizing the Farmers
Mutual Fire association in this county
had its origion In the fact that the
farmers felt that they we're paying toe
high rates for risks and that they were
often not adequately protected; amply
demonstrated by the winding up of
such concerns as the insurance compan-
les Of Dakota as we'll as the Farm 4
Marine Insurance company" of Sioux
Falls. Each Of these companies swindled
citizens OF Union county out of thou
sands OF dollars.
The first meeting for the purpose Of
forming al insurance association here
OF which a record is ut hand
was held In the school house in dis.
trio No. IS In Big Springs township
during the latter part Of February 1858.
it was largely attended by farmers who
had paid for insurance in the above
named companies, only to find that
they did not have the indemnity they
had bargained for. The opinion was
unanimous that farmers here ought to
be guided by the experience of like as
sOciatiOns in other states, where suc-
cess had been attained and cheap in
surance is we'll established.
At q subsequent meeting May 10,
1883. an organization wal effected with
members insuring to the amount OF
$4,000, and the FIRST board of directors
were then elected, two of whom, John
Sellberg and p. A. Ring remain as d.
rectOrs at present.
The organization prospered from the
start and has gained in members and
amount insured every year, the present
number of members oeing 531, with in
surance to the amount OF 9586, $50. To
understand what effect it would have
on the members should they be called
on to pay q loss of 81, 900 we have only
to remember that an assessment of two
mile on the dollar would bring 81, ITO,
20 In the hands Of the treasurer.
This association insures against fire
and lightning only. 1t charges as q
membership fee 81. Policy fee so cents
and q contingent fee of two mills per
dollar insured. Policies are made GU,
for five years. The average total cos,
so far has been "a per u 1000 for five
years insurance.
The board Of directors transact the
business Of the association and attend
to all insurance % well as the settle
ment OF losses. The board is composed
of the following named members:
John Selberg, president; Ole J. Lyk'
ken, vice-president; p. A. Ring, treas
urer; Andrew Martin, secretary: A. w
johnson, Gustave Nilsson. Peter Ekren
M. j. Lehne and p. A. Lawson.
Special attention Is called to some o
the provisions made in the constitution
and bylaws: It is provided that an,
member may withdraw BY giving ter
days notice In writing to the secretary
and paying his share Of claims existing
against the association At the time o
such withdi avail.
That the directors have power u
cancel any holder Of = policy.
That when the directors and the as
sured fail to agree a. to the amount o
loss, it Is to be settled by arbitration
That properly insured shall not be
insured for more than twO-thirds OF it,
cash value.
That all properly adjusted losses
shall be paid with all reasonable dis
patch, in no ease to exceed ninety days
For q copy Of the constitution ana
bylaws see policy. Blanks will b.
mailed to Interested parties on appli
cation. ANDREW MARTIN,
Secretary.