Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1900-01-24
FARrlERS' INSTITUTE
Full and Complete Report of the
Three Day Session.
Large Attendance Despite Inclement Weather.
Much Interest Manifested.

the wrong. For nearly all insurance
agents have wonderful powers of per
suaslon and can almost make man be-
lieve that the moon is made of green
cheese, if he don't keep his eyes OPEN
The cooperative mutual insures its
members, charging no rate at all and
collecting no premiums or notes. Only
membership fee is charged and
usually survey fee in the beginning.
And each member pays his share OF
losses when they occur, and not until
they do occur. Any company organ
lied and operated on this plan is, almost
without exception, considered safe.
Counterfeit mutuals charge SO much
per hundred for insurance and take g
premium note on which assessments are
to be made, and sometimes the makers
of the note are promised exemption
from assessment, and then a time
comes, when the company being
cramped for cash, fails. No other re-
suit can be expected.
The company that is organized for
speculation and managed as one
sidea mutual, will invariably fail in lite
purpose and will generally work no
good to any members save the officers.
These failures of counterfeit mutuals
give the agents OF old line companies
Just the chance they are looking for,
and they are not slow in telling of this
or that mutual which has failed, not
deeming it necessary to state which
kind of mutual it was.
The managers of the Farmers Nut
ual Insurance Co. conduct the business
with no thought of gain to themselves.
1t comes under the head of fraternal
insurance which eliminates, almost en-
tirely, the practical idea of gain.
In the last two or three years the
rates of mutual insurance companies
have been increased owing to heavy
losses, but they are still away below
those of old line insurance. l fail to
find an instance where the amount of
assessment in any year has exceeded
the premium that would be paid for a
policy of like amount in an old line in.
surance companv. The supreme court
has decided that all moneys on hand in
insurance companies shall be taxed
The mutual will escape this extra ex-
pense because it does not have any
money on hand.
Co operative insurance has saved the
owners of farms millions of dollars
Before its adoption farmers were pay
ing 1926 on thousand. Old line com
panles still charge SIS on thousand
while the actual losses on farm property
amount to about So on thousand
And this year old line companies have
made raise on rural risks, while tow1
property remains the same. In tn,
towns and cities the old line ,companie:
still hold sway, but in the rural districts
they are rapidly lOseing ground. The
Dutuals will soon drive out the stool
companies in the agricultural districts
The cooperative mutual system ii
the safest, the cheapest and the mos
promptly paid insurance in existence
1t treats its members with spirit o
fairness in the adjustment of losses toe
that is not found in any old line com
pany, which is working for officer
salaries, agents commissions and divi
dends as its primary objects, rathe
, than the welfare of its policy holders.
The agents for mutual insuranc
, companies should be careful and pains
taking, and capable of valueing pre-
! perty, and only those should be insure
whose interests are identical with thos
: of the persons already insured.
+ The adjuster should not be the ma
= who does the insuring, because h
Z might apprsise too high in order
n give prestige to the company. III
= should be man who understands tn
value of property and of labor, and is
K judge of human nature.
If properly managed co,operatly
Il mutuals never fail. Every farme
having had experience with the hon
. companies, should be a missionary f,
q their upbuilding.
There is still much to be learned
mutual insurance, as in almost ever
thing else. This is an age of progre
and mutual insurance, will be sti
. more simplitied as the years go by.