Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1896-10-21
MUTUAL FIRE INSURANCE
And Its Many Important Advantages
r,-.,,.,, c.nt on 1s,s

And Its Many Important Advantages.
(Atlanta Constitution, Sept. %, 1867
Nearly two hundred years ago few property
owners formed the first insurance association
of the world by agreeing to "chip in" and
share equally any loss by fire which might be
sdffersd by one of their number. The ma
chinery Of fire insurance at that time was in q
very crude state, btit, thanks to the brain OF
man, since that time the Improvements IN the
plan of protection against fire has been In
keeping with the wonderful advancement OF
the times in all branches. Today We have, IN
the Manufacturers Mutual Fire Insurance
Company of our city and state, the perfect on
of fire insurance, combining, as this company
does, the security and stability OF the stock
company with the Hberality of the mutual
company. Their plan is indeed the most equi-
table to all to DO found today. This company
was chartered by special act Of tho Georgia
Legislature In tho year 1888, and by that body
and at that time was granted privileges which
cannot be duplicated at the present time
The company's homo Office Is in this city aud
they are pleasantly domiciled at No. 1s South
Broad. Mr.. j. Charles Dayton, who is known
throughout the state of Georgia as an able
fnancier and conservative business man, Is
the president Of the company. He is also
cashier of the State Savings bank and psomi-
nently connected with other solid institutions
which. mark the growth Of the city OF At
lana and state of Georgia. The vice presi-
dent of the Manufacturers Mutual Insurance
Company Is Hon. Thomas B. Fielder, Jr., than
whom there is no better known and better
liked gentleman in the state. He Is of one OF
our prominent law firms, that of Anderson,
Fielder & Davis, and will represent the county
of Fulton at the next session OF the legisls-
tara of Georgia, he having lead the ticket IN
the face Of strong opposition at the last elec'
tion for representative from Fulton. This.ls
in strong evidence of his popularity and OF
the esteem and confidence reposed in him by
the citizens of his county, and throughout the
state he is honored and esteemed by all who
know him.
The active management Of the Nanufac-
turers' Mutual Insurance Company is in the
hands of Mr.. Peyton Douglas, who was the
prime mover in the organization of the COM
pany and who since its organization has he'd
the position of secretary and general man.
ager. Mr.. Douglas has made q life study OF
the insurance business in all its details, and is
as well posted on that subject as any man In
| the state. He started in the insurance busi-
ness many years ago, being first connected
with the stock companies, but realizing that
| mutually, with proper sa 'egulrds, was the
truer principle of insurance, he organized
and has put In operation the Manufacturers
Mutual Insurance Company. He was raised
in our midst and has the confidence OF those
who know him and hi, friends are legion. In
Mr.. F. H. Cathcart, the treasurer Of the com
pany, VIC have another practical insurance
man. Mr.. Cathcart came here from Balti'
more several years ago and up to the organ
izatior of the Manufacturers Mutual he was
prominently connected with one of the
largest general agencies in the south. Since
coming to Atlanta he has takei prominent
stand among the business men OF our city and
state, and he stands today one Of her most
| progressive citizens. The directors OF tine
| comnany are oil men Of integrity and abi ity
and in their hands the Manufacturers Mu-
| tual Is marching rapidly along the road to
sure success. The prominent features dis
| tinguishing the Manufacturers Mutual In
SurnncC company OluCt
| pa lies Is their guarantee fund of SlOO, LOO
back ed by bond of that amount secured by
| real estate mortgages. stocks and bonds. and
| collateral loans, making total Of twice the
| amount of the bond. This furnishes absolute
securi y and the only mutual feature of the
contract issued by this company Is the fact
| that q proportion of the profits from under
writing is each year divided among he policy
holders of the company. This Is but just, as
| 1t is the patronage OF these policy holders
| which has enabled the company to earn their
profits. An insurer In this company, there
| lore, has absolute indemnity Mt cost. They
| are patronizin2 home company. They pay
no more for their insurance than the CON-
ranies composing the insurance trust charge
| and the profits are returned to policy holders
as they are earned, and are clear saving.
| Policy holders in this company cannot be "a,
sessed for losses or for any other purpose and
| the company Is member of no trust or COM
| bine and is Independent in its every action.
| The last statement of the company, made
| June 80 1896, showed actual assets in the state
| of Georgia of S109.4ii20 and surplus 10
policy holders OF 800, ,214.lo. This company is
| successful, strong and reliable and deserves,
| and is securing, the patronage OF the largest
| ais we'll as the smaller insurers of Georgia.
| Ihe Manufacturers Mutual Insurance Com
pany has agencies in all the principal cities
| ind towns Of the state.