The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1901-08-21

|
hibit of the institutions evolution was
recently made in the Old Home Week
edition of the WATERMAN. It's ex-
istence was begun in little one story
building, about the size of the old
country 'squire's oflice--a survivor of
which may still be seen here and there
in country villages-about generation
after Col. Jacob Davis reared his log
hut on the banks of "Onion River"
and began the settlement which in
1905 developed into the capital of the
State and later the shire town of the
county. Up to the beginning of tie
nineteenth century the business of m
surance, for the most part, had been
carried on by individuals, but at abcu
the time the Vermont Mutual was
formed it had begun to be taken up by
corporations, and among them the Mu-
tual, organized up here in the wilder
ness, was one of the earliest TO take its
place. 1t was inoculated with the
vigor and vitality of the men of the
Green Mountains, and it has strikin gly
exemplifed the thrift and endurance of
its ancestry.
During the year covered by this re-
port the company has increased the
amount of insurance in force from
S54, 1885, 1882 to $50 SOS, JOY Its premi-
UNI note capital has grown form
81 ,2e0,64 to 50, SIG sos. The treasury
balance, which, year ago was S97,-
6242l is now 1926, 502.75, gain of
S2S, 1854 in the year. This amount
has accumulated on an annual assess
ment of four per cent, furnishing pro-
lection to property at very low COM
| parative cost, with the assurance of
continued uniform rate of assessment.
This treasury surplus, which is design
ed to be an "evener" in the matter OF
assessments, also enables the Company
to discount every loss or other claim at
sight, without borrowing a dollar.
The foregoing figures stand for the
largest increase of insurance in force,
the largest in premium note capital
and the largest growth in cash surplus
OF any year since the organization OF
the Company. Has any other State in
the Union a fire insurance company
with so good a record, with so large an
accumulation of surplus or so low an
assessment, and insuring so large per-
centage of all the insurabe property in
the Slater These questions are simply
one way of stating facts and claims
that cannot be disputed.
The Company solicits no business
outside of Vermont, but it is receiving
quite continuously applications from
property owners in New York, Massa-
chusetts and New Hampshire to cross
over the borders and protect them.
These utterers of a Macedonian cry
begin to perceive and understand, what
has become 80 apparent throughout
Vermont, the security and manifold
advantages that come from long years
OF accumulated skill and wisdom in in
surance management, along the same
lines, and those lines established and
justified by all the teachings of sound
policy and practical experience.
Mutually is the base line of the Com
pany's policy. Each holder of a policy
in the Vermont Mutual is member of
the Company, not in theory, merely but
in fact; he is not a customer of the Com
pany but partner in the business,
having a voice in its management, ard
an interest in contributing to it's sue
cess by watchful care over his own
property, or that of any other member
or proposed member, for the preven-
ton of losses or the taking OF un-
desirable risks. In what respect he
helps the Company he helps himself.
The Company protects it's local
agents. 1t has, therefore, in its agents
a large and interested body of men,
alert, practical in their duties, with the
boundaries of their activities clearly de.
fined and their rights guarded against
infringement or the practice of what is
called "overhead writing" The clos
est relations between the "outfelders'
and the home Office are main tanned
with the result that there is a well or
ganized team, well trained, each menu
Der understanding the other, and all
pulling together in the same direction.
Such has been the traditional policy
OF the sold Mutual" and it has been
never 30 perfectly administered as I'M
der the existing management. The
conclusion of the whole matter is that
while hundreds of insurance companies
have arisen and fourished for time,
but for one reason or another have gone
the way of all the earth, the Vermont
Mutual abides, sounder TODAY than