The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1900-07-11

taken care VI under the conservative rule
OF small policies on only the most approved
line OF risks, The costs and expense OF in-
suranCe we're annually apportoned through
assessments upon notes. given to the Com
pany by the insured, and for such amounts
as corresponded to the size and quality Of
the risk thus making the Company's op-
erations purely mutual, and the cosJs of
insurance to the holder, commensurate
with the actual losses, annually incurred.
Notwithstanding the conservative nature
OF its first undertakings, the company's is
sue OF policies, during the h.st two years,
equalled 1884 And IL continued in this
manner to gradually increase aud keep i's
holdings until 1884, when it very rapidly
began to increase its busiuese. The com.
pauy does business only within the State,
having upon its board OF directors a repre-
sentative from the several counties. At its
first annual meeting, held October 7, 1875,
the following were elected directors for
Washington county, all from Montpelier;
NJ ID. Gilman, Samuel Wells, James w.
Brock, E. W. Bailey, W. F. Braman. At
tins meeting also Mr.. Campbell IF Wind
ham county was elected president, NJ ID.
Gilman was elected vlce-president, and w.
IT. Bramsn, seCratary and treasurer. Mr..
Gilman, having resigned was succeeded,
az vice-president, by James w. Brock,
August 7, 1877, who was in turn followed in
that Office by W. g. Ferrin, October IT, 1877.
AT the annual meeting OF 1878 w. g. Fer
rim was elected president and Hugh Henry
of Chester vice-president, the latter being
succeeded by Mr.. Brock in 1879, in which
year, also the Office OF secretary and treas
urer was divided, A. G. Brown being elect
ed secretary. Mr.. Brown resigned May 70,
1884, being followed by Charles II. Ferrin,
who held this position until the annual
meeting OF 1884, when 1t was again united
with that of the tressurer's Office, held by
Mr. Braman. La 1885 change was made in
the board of officers. Messrs. Braman and
Brock resigned. Charles II. Heath was
elected vice-president, John III. Senter, Sec
retary, and Harlan W. Kemp, treasurer
Mr., Heath was succeeded by Marcus M.
Cutler in 1888, who was himself succeeded
in 1889, when he was elected president by
James w. Brock.
The following are the present officers and
directors of the company: Officers: James
W. Brock Montpelier, president; Herbert
H. Brigham, Bakersfield, vice-president;
Harlan w. Kemp, Montpelier, secretary
secretary. Directors: Washington county,
James w. Brock Arthur d. Farwell,
Hiram A. Huse, John H. Senter, Har-
Ian W. Kemp, Thomas Marvin, Fred
Blanchard; Addison county, d. ID. Hemen-
way; Bennington county, L. Hoxie Hall;
Caledonia county, G. NJ. Campbell, Francis
Switser; Chittenden county, e. Henry Pow
ell; Essex county, Franklin d. Hale; Frank
lin county, Herbert f. Brigham; Grand Isle
county, George W. Beardsley; Lamoille
county, Henry NJ. Mcfarland; Orange
county, Curtis s. Emery; Rutland county,
John N. Woodhn; Windham county, John
II, Mortified; Windsor county. Fred G.
Field.
The growth of the company since its or
ganizaton in 1875 is exhibited by comparing
the premium notes-representing the capi-
tai Of the compsny-in force then and now.
Premium notes in force at end OF the first
year amounted to SS7, $780, and on May 30 1900
81, ,39l 1888 The amount Of business in force
May 30, 1900, was 1926 policies, insuring
SIG 688. 900 in protection of which the com
pany holds the premium notes named and
net surplus of S42,550. The company's net
business gains for the year ending August l,
1899, were 958 policies, 1904 433 gain in
amount of insurance and S115, l4O in the
amount OF premium notes.
Thus by careful and conservative business
methods and its policy Of selection, inspec-
ton, avoidance OF over-insurance and GUS
tom of adjustment without litigation the
company has continued yearly its progress
sive work until today 1t stands among the
first of its kind among successful COM
panies