New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1915-01-20
Farmers !! | /, 4 Prove
Business Ability
MUTUAL INSURANCE COMPANIES
SHOW THEIR USUAL GOOD Z
REPORTS.

cREAMERIES SHOW SUBSTAN.
TIAL GAINS OVER PREVIOUS
YEARS.
The thirty-first annual meeting Of
the Stark Farmers Mutual Fire In.
surance Company was held last week
at the office of Judge Cutting in the mu.
nucipal building at Sleepy Eye. At this
meeting was recognized the high tide
OF the company's standing and accomp.
pllshments. It marked the rounding
out OF a score of years of John Cuttings
service as secretary, during which time
the number of policies in force increased
from about 500, with value of half .
million, to 2317, representing value
Of $5,814,O50.
Arnold Hillesheim was reelected pres.
ident; Isidor Haas, vice president
John Cutting Secreatry, and Henry
Schwartz, treasurer. All the serving
directors were reelected also with but
one exception, and that VIM. Proche]
OF SBurnstown, who refused to serve
longer. Otto Triton was chosen to fill
the vacancy. The others reelected
are as follows: Peter Christensen, Eden;
Isidor Haas, Cottonwood; C. Hansen,
Prairieville; Herman Albrecht, Milford;
Mic Schwartz, Leavenworth; Arnold
Hillesheim, Stark; H. A. Hillesheim,
Sigel; John Cutting, Home; Otto Triton,
Stark. saf
The meeting Monday proved to be a
jinx for progressive principles. Several
were proposed, but all failed with one
exception. The motion that carried was
thatsof authorizing issue of vacancy per-
nit TO be extended from thirty days to
ninety days; It allows Insurance to hold
weld on unoccupied buildings for a.period
of ninety days now, instead Of thirty
as formerly. At present the bylaws and
the constitution allow the company to
insure automobiles only within it's own
jurisdiction. A motion was made to
extend that phase of insurance to any
where in the state, but it failed flat.
Another motion was made to authorize
the insurance of automobiles the same
as any other property at rate of ten
cents on every hundred dollars, but this
also failed to carry, and the old twenty
cents will remain.
The story of the phenomenal growth
of the Satrk Farmers Mutual Fire In
surance company is one of the most
interesting bits of Brown County history.
Its development has been too extra
ordinary to be taken as model; it must
be referred to as something distinctly
individual. It was given legal birth
March 18th, 1884. At that time there
were but twenty-five policy-holders.
Now there are over ninety-two times
as many policy holders, showing that for
the thirty years of activity the business
has had an average triple annual develop
ment. During the year 1914 losses a.
mounting to $5,924.19 were paid. OF
this $3,690.49 were lightning losses, and
$2,356.30 fire losses. At the end Of the
year, Dec. 31st, 1914, there remained a
cash balance of $2.226.S3.
Overhead expense is an item that
does not give any great amount Of
concern to the officers of the New Sweden
Mutual Fire Insurance company. Al
though the company's business is steadily
increasing year by year the expense
account has not grown, but rather has
had tendency to diminish. It is
probably safe to say that no other COM
in Minnesota, mutual or otherwise, is so
economically conducted.
Stockholders in the company held
their annual meeting at Nicollet last
Monday afternoon. "A comparison Of the
1914 report with reports Of prior years
shows that the expenses have been
appreciably cut down. In 1912 the
company's expenditures for all purposes
amounted to $8,645.87, and the follow
ing year they dropped to $8,221.46.
During the twelve months just closed
the current expenses were kept down to
$679.90. and the expenditures for all
purposes to $7,693.32
As usual there was q steady gain in
the company's business. On Jan. l.,
1914, there were 1884 policies in force,
and the insurance carried amounted to.
$5.S83, 780. During the year 4SS new
policies were issued; they aggregating
risks Of $1,304,235. In the same period
there were AS lapses or expirstions,I
these policies carrying 81, 030, 525. Thus
there are 2377 policies now ii force,
thi representing Insurance. oths amount