The Farmville herald. [volume] (Farmville, Va.) 1890-1934, 1903-06-05
Underwriting Noies.

Some interesting details i'm regard to
the work that has been taken in hand
by tine Virginia Mutual Insurance As
ISOLATION of Richmond, Na-lnsurance
against loss Or damage tO growing crops
bv hail the principal feature Of Us bust
uts.-l 10 Is under the same manage
m-nt rs the Park Region Mutual Hail
Insurance Association Branch Office,
Raleigh y. c.. which has been doing
business for nine years past.
An organization 90 which il is proper
to make special reference in the col
umus of this paper is that named in
the above headiug-the Virginia
Mutual Insurance Association, Of Rich
mond, Ma
This association was incorporated un-
der the general laws Of Virginia on
March Z, 1908, for the purpose Of writ
ing mutual insurance against loss or
damage t0 growing crops by hail
storms. and against loss 10 all other
species To property, real, personal and
mixed, by iiIe, lightning, cyclone and
tornado.
The officers of this association are as
follows: G.. =. Reeves. President, O. J
Johnson, Vice President; =. Peterson,
Treasurer, o. A. OsmOndsOn, Secretary;
aud r.. Y. Marye, Counsel Directors:
Charles p. Reeves, p. Peterson, and o.
j. Johnson. This association has the
same financial backing and the same
management as the Park Region
Mutual Hail Insurance Association
Branch Office, Raleigh, y. c., and
both associations are equally reliable
The Park Region Mutual Hail AssO-
citation was organized in 1894 for the
benefit of its IN embeTs. 1t has been
paving losses, sustained by farmers
10 their growing crops, 10y hail storms,
for nile years.
over two hundred losses were paid
in North Carolina during seasons Of
1902.
Mr. Peterson, Mr.. Reeves and Mr..
Johnson reside at ClenwO0d, Mimi,
and are highly spoken of 10y the State
officials, Senators aud Congressman
from Minnesota. The active manager
of The business al Richmond is Mr.. o.
A. Osm0ndsun, the Secretary, who is
an underwater of many years stand
ing and who is highly spoken Of 10y all
who know him.
10 is impossible TO speak too highly
Of the work that is being done 10y these
two associations.
Losing a crop or a considerable pOr
ton of 10 often means financial embar
rassment and perhaps financial ruin.
There is no moral hazard in a hail
insurance. If loss occurs the insured
can iu no case be accused of bringing
10 about.
Successful farmers and business men
agree that it is wise policy to spend a
small amount 10 protect the whole
amount.
Time, labor, wear and tear Of ma
chinerY, hired help, and necessary
cash for current expenses are invested
in the raising of crop. The prOtec-
ton of these investments against
rayages by hail storms is very essential
The moderate cost of a policy will
not be missed, while the destruction of
a crop may upset the business calcula-
lions of lifetime.
I'm case no loss is sustained, what
ever the policy has cost, has been ex-
pended i'm a good cause, namely, to
assist some worthy member who IS a
loser.
IN hail insurance the policyhOlder is
free from the extra burden Of cost,
resulting from incendiarism aud from
p0lcyh0lders perpetrating fraud upon
companies, as Is 20 frequently the case
in fire and life insurance.
A farmer who has obligations to
meet, "a family to support, and children
90 educate is not doing himself, or his,
justice, if he neglects 10 protect the
results of his efforts.
The risk taken, per acre, on frult,
garden truck, and tobacco, Is limited
tO $1,000 or less; cotton $1,000 OF less,
and other crops $500 or less per acre.
Insurance is IN effect from lat noon
date application is made, until Sep
tember 18th of each crop season.
On October LIST following, 1t is accur-
ately known as To- what il will take to
pay all losses aud the actual and neces.
sary expenses during the season, ana
at that time each pOlicyhOlder must
pay his pro rata assessment which
can, iu mo- case, exceed per cent. OF
the face Of policy. There is no other
assess ment.
-Four per cent. is rarely ever levied,
except during season when hail storms
of Unprecedented severity occur. ms
wide latitude is one Of the several
strong safeguards of this association.
Every farmer i'm the State ought 10y
all means to avail himself of the system
of This association. Its policies are as
safe as United States bonds.