Alma record. (Alma, Mich.) 1878-1928, 1907-01-23
FARMERS MUTUAL.
Shows Big Gains. Held Its An
nuaI Meeting on tuesday
Afternoon, January IS.
MORE MONEY IN TREASURY
Feirey Unanimously Re eIected-Sec-
retary Gets Raise Wont Pay
d, w. Knapp's Loss.

~ oAAea4 Aa~~s%%<6 - 49,
Mutual Fire Insurance Company of Gin
ton and Gratiot counties was held at the
court house in St. Johns, last Tuesday
afternoon, when about fifty members OF
the company were present.
The meeting was called to order by the
president, George n. Ferrey of Green
bush, and after a short discussion relative
to the use of gasoline, the minutes of the
previous meeting and statement of the
years business were read by the Sec
retary and treasurer, Charles b. Giffels
of that CITY.
The report of the secretary show that
great gains have been made by the COM
pany during the past year both in the
number of members enrolled and the
amount of property insured. AT the
close OF 1905 the roll contained the
names of 7,2oe members. During the
year just closed 644 new names have been
added and aga policies cancelled, making
a net gain Of $50 members.
The amount of property insured Dec
'ember 81, 1905, was $Io,433,4SI. This
has been increased during the past
twelve months to SII,I5e,S43, making il
the largest amount of property ever car
ried by the company.
There is too, at this time, larger bal
ance on hand than has ever before been
reported at an annual meeting. Last
year the amount in the treasury was $3.50
4e. This year with all bills paid the
amount on hand is SI,e4I.54 The total
disbursements for the year were $40, 744.-
81. Two losses amounting to $7S5. al
that will be due about the goth of Jan
uary have not as yet been paid.
THE coMPANy's GROWTH
After reading the financial statement
Mr.. Giffels gave short but interesting
history of the company. 1t was or
ganized as early as 1868 but no record
was preserved of its proceedings until
1879, and from that date until 1884 the
accounts are meagre and brief. During
the first ten years of its existence the
company secured something over two
million dollars of insurance, and it took
them another ten years TO increase this
amount TO three millions The largest
gain made in any one year was in 1902
when nearly million and a quarter OF
new insurance was written. During all
this time the lowest assessment was 81 .o4
nd a,,1 tho htsr1,acf Ia "a, The
average assessment, as nearly as il car
be computed, is about $500.
The largest loss to the company oc
CURED in Gratiot county May 2, wher
two large barns belonging to George II
English were destroyed together with
their contents including six COWS, and Z
flock of So sheep. The property was in
sured for s., 600 and Mr.. English secured
the full amonnt. The second largest los.
occurred in Bath, this county, ON May s
when the house of {. NJ. Sargent will
nearly all it contained was entirely de
stroyed. The amount paid by the conl-
pany on this loss was SI3I2. The tota
of losses paid during l9o6 was II7.
At the conclusion of the secretary
report the subject of gasoline was agar
taken up. AS this substance is rapidly
becoming great factor in the work on a
farm il created much interest, and vot,
was taken instructine the board of direc
tors to draft bylaw regulating the us,
of gasoline on and near property insured
by the company.
OFFICERS FOR 1907.
Al the close of the discussion ballots
were prepared for the election of presi
dent for term of two years, TO succeed
G.. n. Ferrey The number Of votes cos
was so of which Mr. Ferrey secured 4,
and was declared elected. w. +. Pitt ol
Cratiot county was reelected vice -presi
dent for term Of two years and Charles
j. Giffels was reelected secretary an,
treasurer for a corresponding term. A
this meeting also it was necessary to elec
two members from Gratiot county to tn,
board OF directors. These votes wer,
taken bv acclamation and resulted in tn,
reelection of W. c. Mallory Of Seville
and Jesse Pepple of Ithaca.
II is customary with the company aftel
the election Of officers 10 fix the salary o
the secretary and treasurer. For few
terms past this has been fixed at 5000
BY unanimous vote Of the member
present Tuesday, the salary for the tern
just beginning was fixed at $500. Thi
was very gratifying to Mr.. Giffels, an'
in acknowledging the courtesy he state'
that dniing the ten ears that he has beef
in the Office he has been striving to plac