The herald-advance. (Milbank, S.D.) 1890-1922, 1903-07-31
ANNUAL STATEMENT
For the year ending December 81. A. d.
1902, of the condition Of the
State Farmers Mutual Hail In
Surdncc Company
ANNIAL MENU

jul ulISN ~OAAAPuAAy
Organized under the laws Of the State Of
Minnesota, made to the Commissioners
of Insurance of the State of South Da-
kota, pursuant to the laws of said state.
President, r. p. Ward; secretary, +. e.
Bailey. Incorporated March 2. 1896.
Commenced business March 3, 1896.
Principal office, Waseca, Minnesota.
BALANCE SHEET.
Balance cash on hama or In
banks December 81 of previous
year Si,Ooi %
INCOME DURING YEAR.
Cash received from assessments
during the year .............. SIG. 04I .9b
Cash received from assessments
levied during previous years.. 4l4.64
Cash received from all other
sources ...... ................ 9o4o
Total income .s27, O62. 90
Total net resources. ........ $34. 1919. So
DISBURSEMENTS DURING YEAR.
year sis, 763.94
Advance payments returned to
rejected applicants ............ ........
Commissions paid agents, agents
expenses and amount to direct
OrS .. ZZS.Uo
for ADJUSTING losses ......,.... 5,ss7.s4
Salaries of managers and agents
not paid by commissions. .........
Salaries of officers .............. 100000
Salaries and other compensation
Clerk hire. rent, postage... i.8s5.6o
Attorneys fees .. 4. O
Printing .... 441.25
All other items 202.07
Total disbursements ......... SOS. $685. 3
Balance oo2l22
ASSETS OTHER THAN CASH e 81,
: 1902.
Premium or assessment
notes ..............S ll, lbS,S3
Losses on same collect
ed in part by compro-
mise ................. 4,4l4.63
Balance of old premi-
ums OF assessment
notes on hand at end
OF year o, 100. 10
Premium notes unpaid acquired
during the year ............... o,124.92
AL other assets ............ $50 90
Total $3.50. .S12.62S1l
Total assets, including ball
ance on hand SIT ,9i9.33
LIABILITIES.
Claims in dispute or litigation. 100000
Balance. net assets .......... ST., 749. 33
STATE OF MINNESOTA.
County of Waseca-ss.
Secretary of the State Mutual
Hail Insurance Company, being duly
sworn. depose and say and each for him.
self says, that they are the above-de-
scribed officers of the said company. and
that on the thirty-first day of December
last all of the foregoing described assets
were the absolute property of the said
company, free from any liens and claims
thereon, except as hereinbefore stated;
and that the foregoing statement, with
the schedules and explanations hereunto
annexed. is a full and correct exhibit OF
oil tho III hilitinC mud of tho irnnp1p and
disbursements, and of the general condf-
ton and affairs of the said company on
the said thirty-first day of December
last, and for the year ending on that day;
and that all the items. facts and answers
therein written are fairly and correctly
stated as given, without evasion or res
ervation. F. r.. DAY.
Subscribed and sworn to before me this
y day of February. a; D; 1908
(Notarial Seal.) Notary Public.
STATE OF SOUTH DAKOTA.
Insurance Department.
I, H. G.. Shober, Commissions Of In
ourance of the State of South Dakota, do
hereby certify that the above is a true
copy Of the original statement now on
hle at this once.
In witness whereof. I have h~ereunto set
my hand and affixed the seal Of this office
ct Pierre. this 10 day Of April. 1903.
Seal,) n. c. SHOBER,
7 NJ Commissioner of Insurance.
THE STATE OF SOUTH DAKOTA.
Department of Insurance.
Company's Certificate OF Authority.
Whereas, The State Farmers Mutual
Hail Insurance Company, a corporation
organized under the laws OF Minnesota,
has filed in this office a sworn statement
exhibiting its condition and business for
the year ending December 81, 1902. con-
fOrmable to the requirements Of the laws
of this state, regulating the business of
Insurance.; and
Whereas, The said company has filed
In this Office a duly certified copy of its
charter, with certificate of organization,
In compliance with the requirements Of
the insurance law aforesaid:
Now, therefore. I. II. C.. Shober, Com
missioner of Insurance of the State o.
South Dakota, pursuant to the provisions
OF said laws, do hereby certify that the
above.named company is fully empowered
through it's authorized agents to transact
its appropriate business of Hail Insurance
in this state. according to laws thereof.
until the 31st day of December, A. D..
1908.
In TESTIMONY whereof. I have hereunto
set my hand and seal at Pierre this Bird
day Of March. A. d. 1903.
(Seal.) III. G. SHOBER,
Commissioner OF Insurance.