The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1907-01-24
ITS ANNUAL MEETING
0lendOradO Farmers Mutual Insurance
Company Convenes and Elects
Officers for Year 1907.
Association Has Membership OF Seven
Hundred and Ten and is in
Fiourishing Condition.

Fiourishing Condition.
The annual meeting of the Glendo-
RADIO Farmers Mutual Insurance CON-
pany was held at Jesmer's opera
house in Princeton on Monday, Janu-
airy q, and, considering the weather,
the attendance was fairly good one.
President O. 81. Uglem called the con-
vention to order and Secretary J. A.
Erstad read the minutes and financial
statement.
Following this came the election of
directors and other officers for the
ensuing year. j. A. Erstad, L.
ROCKFORD and L. Bowman were
elected directors for three years and
A. B. Gramer for two years. John
Il. Grow, August Jaenicke and S. L.
Ness hold over as directors for an
other year. The officers elected we're:
O. II. Uglem, president: L. Roche
ford, vice president; j. A. Erstad,
secretary: G. D. Kaliher, treasurer.
A motion prevailed to levy an as
sessment of two mills for the reserve
fund and it was voted to sell all the
old notes Of the company to the per-
son Or persons bidding the highest
therefor. It was also decided to pur-
chase fireproof safe wherein to keep
the books and papers of the company.
The present membership of the COM
pany is TO and the total amount of
insurance carried is $727, 145. The
loss claims presented during the year
1906 numbered ID and aggregated
81, 1858, while the loss claims paid
numbered 10 and amounted to
So, 5S4.23. The amount of claims pre-
sented during 1906 is less than the
sum paid in that year for the reason
that six of these claims were allowed
in the latter part of 1905 and we're
liquidated early in 1906.
The above constituted the principal
part of the business transacted.
Immediately preceding adjournment
a resolution was offered thanking N.
E.. Jesmer and the business men of
Princeton who so generously contrib
uted to the payment of the hall rent
for the meeting of the association.
The resolution was adopted by ris-
ing vote.
Following is the financial statement
of the Glendorado Farmers Mutual
Insurance company for the year 1906:
Financial Statement.
Balance cash on hand Dec 3d. 1885,. 1924 20
INCOME DURING YEAR 1906.
Cash received first payments of
policies issued during the year -. $685. 81
Cash received from assessments lev
led during the year.............:... s.s74.o1
Cash received from assessments lev
led during previous years. 1894
cash received from premium as
SeSSment notes taken during the
year. ........ ............... 80 .21
Cash received from premium or as
,os sessment notes Of previous years. $3.50
cash received from all other sources. 9.43
Total amount of cash received during
the year. go. .......... S4,719 SO
Total cash including balance on hand
from 1905 .................... S4,744.1S
DISBURSEMENTS DURING YEAR 1906
Fald losses remaining unpaid from
Paid losses incurred during the year. 1,7S5. IS
Return premiums S1247, commissions
Paid for adjusting losses S2s24 print '''''
ing S4S 49, supplies 81. 3O......... 1920
Pald president S39 20 secretary S1S2.7l
treasurer $4,000. Observation-Disclosures. sS4
Paid directors $4,000, postage ss35l. 80
REM 90. ............ 221 81
Paid insurance department 500 all
other disbursements $3.50 ....... 81. so
Total amount of disbursements dur
Ing the year.... ................. ST. AGA so
Balance cash on hand at end of year. S279. 10
j. A. ERsTAD, Secretary.
The Glendorado Farmers Mutual
Insurance company is one of the best
institutions of it's kind in the country.
It's board of directors and other
officers are reliable men, and men who
take considerable interest in their
company's progression. Much bene-
ut has resulted during the past year to
many members of this association who
have sustained loss by fire. The COM
pany is in frst-class financial condi-
ton and farmers who need insurance
can hardly do better than become
members. H.
Disastrous Fire at Brainerd:
Two people are dead, and thousands
OF dollars worth of property was de-
stroyed in disastrous fire which .oc-
Cured at Brainerd early Tuesday
night, The fire startod :, +bo Do;11,