Meade County news. [volume] (Meade, Kan.) 1900-1918, 1903-01-15
The Earmers' alliance Insurance
Company

week IN the Masonic nall. nj
meeting was attended by quite larg,
number of policy holders, who eaci
have a voice in the election of tht
new officers. At this meeting 1. F
Talbot was reelected president, anc
c. F. Mingenback reelected for th'
fifth term as secretary of the com
pany. This company is managed b.
fifteen directors and each holds hi
office three years. At each annua
meeting six directors are elected.
At the meeting the following nev
directors were elected; William Nc
Carty, of Mcpherson county; w
J. Brown, of Kiowa county; B. F
McGill, of Mcpherson county; H
w. Ruble, of Sedgwick county, and
J. w. Layborne, of Usage City.
]. w. Layborne and w. J. Brown
are new men on the Board of direc
tors. 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; c. F. Mingenback,
Secretary; N. w. Bridgens, Ad
juster; James B. Darrah, General
Agent and Inspector; John d. Mil
liken, General Counsel.
The condition of the company
business at the close of the past veal
was very satisfactory. The total
amount of business in force is $40,
500, ooo:' This includes the amour,
in force in both departments. The
company now has total member
ship of 42I,I5o. This is limited tc
farm risks and city dwellings, as the
company does not take mercantile
risks. The amount of business writ
ten for 1909 was S6,25I.ooo.
Last year the company paid out
for losses and expenses ss5.4oo, 90,
the cost of insurance being 22 cents
a hundred.
The managers of this company
have accomplished a great deal in the
past few years and have made the
institution as safe as the government
of the United States. One of the
victories of which they all should
feel proud is the elimination of what
lis called the 'blanket policy" In
the insurance of livestock the old ele-
ment of danger has been overcome
and there is no more hazard in in
suring this, 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, 900. 90 on hand to be
used in case of unusually heavy loss
es which have not been adequately
provided for by the usual assessment.
This reserve fund is sufficient to
carry the company for one year il
no assessment should be made at all.
The business is limited to the
state. During the existence of the
company it has paid out to farmer:
of Kansas S335, 10000.
1t is well known that the plan O
insurance is purely cooperative anc
aims to furnish insurance at actua
cost, and that it has succeeded il
this is shown by the immense mum
Der of farmers who have come to
depend on it for indemnity agains
loss by damage from the elements
One of the surprises to one no
acquainted with this method of in
surance is the astonishing low cos
of managing it. The expense to of
ficers, Board of Directors and Clerks
last year of handling this large vol
ume of business was only 81, 800
this includes all Board meetings
This sum is much less that is pai'
for the services of an ordinary ad
juster of an old line company.