Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1903-01-31
Annual Meeting.
The Farmers Alliance Insur-
ance Company Elects
New Officers and
Directors.

The fifteenth annual meeting of tile
Farmers Alliance Insurance Company
of Kansas, was held this week in the
Masonic hall. The meeting was at
tended by quite a large number OF
policy folders, who <each have voice
in the election of the new officers. At
this meeting I. f. Talbot was re-
elected president, and F. c. Mingen-
back reelected for the fif4h term as
secretary of the company. This COM
pany is managed by fifteen directors
and each holds his office three years.
At each annual meeting six directors
are elected
At the meeting the following new
directors were elected: William Nc
Carly, of Mcpherson county; w. j.
Brown, of Kiowa county; b. E. Nc
Gill, of Mcpherson county; H. w.
Ruble, of Sedgwick county: and j. W.
Layborne, of Usage City.
j. w. Layborne and w. j. Brown
are new men on the board of directors.
The other men elected have been on
the Board for some years.
Wednesday the new BOARD met and
elected the following officers: !. F.
Talbot, President; b. f. McGill. Vice
President; G. +. Mingenback, Secre-
tary; n. w. Bridgens. Adjuster;
James b. Darrah, General Agent and
Inspector; john ID. Milliken, General
Counsel.
The condition of the company's bus
mess at the close of the past year was
very satisfactory. The total amount
of business in force is $40. SOC, 900. This
includes the amount in force in both
departments. The company now has
a total membership of 2l.250. This is
limited to farm risks and city dwell
ings, as the company does not take
mercantile risks. The amount of
business written for 1902 was S6,25I,-
OO0
Last year the company paid out for
losses and expenses So, 10000. the cost
of insurance being D cents hundred.
The managers of this company have
accomplished great deal in tile past
few years and have made the institu-
ton as safe as the government of the
United States. One of the victories
of which they all should feel proud is
sthe elimination of what is called the
ssblanket policy." In the insurance of
livestock the old element of danger
has been overcome and there is 40
more hazard in insuring their stock
than in any other kind of property.
Another thing is the reserve fund
which has. accumulated in the past
few years. There is now a cash re-
serve of S65, 200. 90 on hand to be used
in case of unusually heavy losses
which have not been adequately pro-
vided for by tile usual assessment.
This reserve fund is sufficient to carry
the company for one year if no assess
ment is made at all.
The business is limited to the state.
During the existence of the company
it has paid out to farmers of Kansas
$685., 100000.
1t is well known that the plan of IT
surance is purely cooperative and
aims to furnish insurance at actual
cost. and that 1T has succeeded in this
is shown by the immense number of
farmers who have come to depend on
it for indemnity against loss by dam
dye lTOfil bi1t cicu1tf1bS
One OF the surprises to one not ac-
quainted with this method of insur-
ance is the astonishing low cost o
it, The expense to officers,
Board of Directors and Clerks, last
year of handling this large volume of
business was only 81 300, this includes
all Board meetings. This sum is m ach
less than is paid for the services OF an
ordinary adjuster of an old line COM
paDy.
Mcpherson is certainly to be con
graduated on having the Farmers |
Alliance Insurance headquarters in |
the city 1t is as large, if not the |
largest Institution of the kind in the /
world and one. scarcely realizes the
amount of business transacted during |
the year. Had the headquarters been
located in some other city Mcpherson
would not be enjoying city delivery of
mall The company's postage in one I
year amounts To about $1,000 and this
brings the postoffice up to tile re- /
luired limit for city delivery. The |
annual meeting and the /
board of directors quarterly meeting
brings people from all parts of the
state to Mcpherson while 20, 900 pat
rons in the state have their attention
:alled TO our city during the year. As
an advertiser to the town it far sur
..,e.-xc .,uu ofI.or anfarnriso