The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1905-06-08
S1,647,82g.18
Insurance Ii Now Carried by the
Central Mutual Association
Of This City.
Address by President Higgins at
the Annual Meeting OF Policy
Holders.--l Very Good Con-
dition Financially.

| hooOSioSiOh hCio itc ciAsh annual
meeting at the Odd Fellows Hall, in
this city, on Thursday last. The meet
ing was largely attended by members
of the company and others, a number
of ladies being present.
The company has been prosperous
and successful, and has been particu.
larly SO during the last year. 1t has
now In force insurance in Highland
and adjoining counties, but mostly in
Highland, d, ,547, 800 16. The increase
during the year ending May 3lst was
s239, ,10i.5l. The rate per cent. of
losses for that year was one and "a
half mills.
The officers of the the company are
Henry M. Huggins, President; A. T.
Rogers, Vice. President Otto F. Horst,
Secretary; John Fl. Hiestandi Treas.
urer. Direstors: J. N. Hogsett, c. G
Muhlbach, j. d. VanWinkle, c. N.
Roads, Jas. A. Williams, W c. Larkin,
A. E. Miller, G. W. Farley, Josiah
Polk.
The animal address of the president
of the company was as follows:
Members of the Central Mutual
Fire Association, ladies and gentle
men:
This Is the dfth annual meeting Of
our company. We can fairly con-
gratulate ourselves upon its present
condition and upon the benefits we
have received from it duriog its exist
ence.
During that time we have had pro-
lection, not only from fire and light
ming, but from windstorms as vel,
at an expense to us of about half the
cost from fire and lightning alone in
what is called old line insurance, And
besides this the money we have paid
for this protection has not been sent
away to swell the surplus or help pay
the high salaries of the officials of
some company with no interest in us
except in the profitable business it
may derive from insuring our prop
erty.
The report of our secretary will be
laid before you. From 1t you will be
informed, in full detail, of our affairs.
From his report and an inspection of
the books of the company. which he
invites, think you will be entirely
satisfied that our books are we'll kept
and our clerical affairs in excellent
order. The importance of this have
always taken occasion to emphasize.
l repeat now what have many times
said beforeithat If three things are
carefully attended to our company
cannot fail in continued success and
prosperity. We must see that we in.
sure only good risks, and not fire traps
or structures that an ordinary March
wind will blow down. We must see
that our risks are not over-valued.
Aud we must be sure that the books
of our company are well kept. AS to
the last the work of our secretary is
all that we can fairly ask. AS to the
first two am glad to say that, SO far
as know, there..is no cause for com.
plant and that our executive COM
mittee is watchful and efficient. Still
it may notlbe outI of the way to re-.
member that ours Is not an old line
insurance company In business to
make money; that we are insuring
one another at actual cost of protec-
tion. and that therefore we are in
honor bound, each to the others, to
see to it that!our individual risks are
as safe as may be and not over valued,
and also that every risk of our com.
pany is, SO far as we know, in the
same condition.
There are over one hundred compa.
MES like ours in Ohio. They have
been very successful and have given
protection to their membership with
but one exception. They are writing
in Ohio overitwo hundred million dol
lars worth of risks, mostly on farm
property, and'aresannually saving to
their members many thousand dollars,
both in protection and its cost. The
fact Is that fire insurance on the
assessment plan is scientific insurance.
/ believe it will, and before any very
long time, occupy the whole field OF
fire insurance iniboth town and coun'
try. 1t is insurance at'actual cost
that is payment of losses and actual
expenses of the business. e Commercial
or old line insuranceis at the expense
of the paymentnof losses, plus ex
penses of thel business, inclusive o.
large and sometimes very large com
missions TO agents.. and salaries K
officers, plus dividends to stockholders
plus great sums of money as surplus
These last, while Ithey may be neces
sary In old llineFfire insurance, are Z
constant temptation to officers having
them in charge. Hwe have striking
instance of this lin the affairs of ;
great life insurance company nov
very much inl thel public eye. Al
} enormous sum, believe about s80, 900,
1000, has been piled up by this company
as surplus. This money could hav'
come from no place else In the begin
ming but the pockets:of policy holders
And now thei.oficers are accusing
each other of usingIit in stock trans
actions for their.own benefit, and on'
i<kk Al L. IL