Herald and tribune. [volume] (Jonesborough, Tenn.) 1869-current, 1897-11-10

Farmers Mutual Fire Insurance Company.
The above is the title of an organi.
ton that has been successful operation
ia other States for some years, and is
established in our neighboring State
of Virginia, where t has effective and
entirely satisfactory organizations in
some twenty counties.
An effort is now being made to intro
duce it among our farmers in this
county, and we do not entertain any
doubt that it will succeed. Some of
our very best and most successful
farmers are already interested in the
matter. and s1ch men will bn chosen
TO manage and officer the organization
when it is formed here.
This is a matter we have considered
for many years, and have come to the
conclusion that an insurance associa
ton for the benefit of the farmers
should be organized by the farmers
themselves, and it can be done on q
much more satisfactory and pernla
nent basis than are many of the sc
called foreign insurance companies,
That III readers my understand
the scope and intentions of the Farm
ers Mutual Fire Insurance Company
we publish the plan OF the company
THE PLAN.
This company has the right, char.
tered under the laws of the State o.
Tennessee, to organize Mutual Fire In
urance Associations in this and ad
joining States. The object of each AS
sociation it to secure, ny mutual co
operation, the protection of farm
property, or any detached building
and contents, against destruction b.
fire, wind, or lightning. Each count,
must have an organizatson, composed
of a President, Secretary Treasurer
Local Agent, and one Director for eacl
magisterial district. Each count,
shall only be responsible for the liabil
tiles and assessments accruing from
losses " thin its own territory, but tw,
or more counties may be united in on
Association. 1t is a company belong
ing exclusively to the people of eacl
county or counties who make applica
ton for enough insurance under tn
charter regulations) to justify the or
ganization of a company.
You can get a policy for fifty cent
90, ~. ono I,,nl.ol lnlIara' n,nrth ~
insurance granted in your contract, an,
your property insured your lifetim
without paying any more, unless
member of your association shout
meet with a loss by fire, wind, or light
ming.
, Should a loss occur, it is reported t
the Director of that district in whic
. it occurs, who adjusts it and report
the same to the President Of the con
9 pany, who o y ders the Treasurer {
make out an assessment to cover thu
lose, Each and every member is the
: required to pay the Secretary Treal
, ureI, within ninety days, his pro rat
share of that loss.
. This plan has been operated in vi
ginia and other States for the PAT
twenty years, and the statistics sho,
9 that the average assess nent per annur
= is but 81 80 to SO on the one thousan
dollars worth of property insured,
Common sense should teach us the
we can insure each other at actual CO,
cheaper than a.foreiRn company ca
insure US at q profit, besides payin
enormous salaries to officers, while "
pay no salaries to officers at all. Tt
Bylaws will fully explain the dutit
of all the officers, and observation wi
convince the most obstinate that an
4 member, for the welfare of his count,
, would cheerfully discharge the duti,
; involved by his election.
' The reports of the capital compani,
I show that they collect 81 in premium
of which they pay out 90 ceuts fC
losses, leaving rs cents for profit
while under plan we, the member
keep the rs cents in our own pockets.
There are over twenty counties
the State of Virginia that have bee
successfully operating under this pla
for years, saving their members over
: million dollars.