The herald-advance. (Milbank, S.D.) 1890-1922, 1909-11-05
In their New Home.

In their New Home.
Officers Of the Evangelical Mutual
Insurance Company Move into their
New Modern Office Building.
The Evangelical Mutual Insur.
ance company's new bone In
this city is worthy Of more than
a passing notice. During the
year 1903 this company wrote
insurance to the amount of
81, ,OO3,275, all on farm property,
no city risks being taken, and
had to January, 1909, written y
total of IS, 925, ,01O of fire, light
ming and tornado insurance.
These figures represent lot of
money, and the business is all
transacted in Miibank. It is
doubtful if a majority of our citi.
zens realize the Importance of
such a company. Organized in
January, 1892. it started in q
small way as mutual company,
did business on business prin-
ciples, adjusted losses in a fair
square manner, and the outcome
Was a instantly increasing bus
mess until it had reached the
figures given above. The rate
of insurance for 1898 was 81
mills.
Mr.. Ben Moser was elected
treasurer of the company at it's
organization, and for seventeen
years he has had charge of flnan-
cial matters, and has carried
them on in way that has been y
credit to himself and the com.
pany, and he is still holding the
Office. John Roth was the first
secretary, and served up to q
few years ago, when George
Bury was elected to the Office
OF secretary. }. D. Steiner is
president of the company and
Louis Lind vice president. The
directors are John Bury, Edw.
Redman and Fred Tessin.
On December 81, 1907. the
company had on hand a reserve
fund of 11,665.69 Received
from assessments during the
year, $18, 462.24. The total re-
ceipts for year we're $3O,2l7.13.
Losses paid were $14.O97 II. and
after all expenses had been pad
there was q reserve on hand
Dec. 81. 1908, $12, ,735.78.
The mum Der of policies renew
ed during the year were 375, and
GOA new policies were issued.
The number of policies in force
Dec. 81. 1908, were $500.
The largest fire loss paid dur
ing 1908 was 81, 200: the smallest
$40. The largest cyclone loss
$500 and the smallest IS. The
heaviest lightning loss was
1926, and the smallest 50.
! No fancy salaries are paid
the officers of the company, the
largest being $500 a year, and all
the affairs OF the company are
conducted on q very economical
and conservative basis. They
have always adjusted their losses
promptly and fairly, and enjoy
an excellent reputation, attested
by the fact that once insured
with the company nearly always
means q continual policy with
them.
For years the business Of the
company has been carried on
at the farm home of the officers,
but the increase of business has
compelled them to seek larger
and more convenient quarters
for the transaction of business.
This summer they erected q
building 25x4O feet on the east
side of Main street, two lots
south of the postofice. It is
modern in every respect, fine
large front Office room, and fire
proof vault 6x8 inside measure
ment, for the protection Of the
books and records of the com.
pany. A large room in the rear
for directors meetings, and q
basement the size of the building
furnish splendid Office conven-
fences. The interior is finished
in birch, and presents a hand
some appearance, nice glass
sign adorning the plate glass
window. The Office is equipped
with modern desks, type writers,
adding machines, and in fact
everything to expedite the Office
work. The Office torce consists
of the treasurer, Ben Moser, the
secretary, George Bury, Miss