Golden Valley chronicle. (Beach, Billings County, N.D.) 1905-1916, 1916-05-26
Insurance Co.
Grows Rapidly
Farmers Mutual, Only Four Years
Old, Now Has a Member.
ship of Over Four
Hundred

ship of Over Four
Hundred
A little over four years ago, in
the Lame Steer district of Mon
tana, birth was given to the Farm
crs. Mutual Fire and Lightning
Insurance Company of Custer
and Dawson Counties Montana.
TO be specific charter was
granted to this organization on
the 18th day of November, 1911,
under the mutual laws of that
state. Since that time the terri
tory in which this organization
was granted a charter to operate
has been divided into the counties
!of Wfbaux, Fallon, Richland,
Prairie, Custer and Dawson coun-
Ties.
In view of the fact that the COM
pany has been repeatedly request
ed to extend it's operations to
western North Dakota, and that
steps have been taken with that
end in view by officers of the COM
pany, it is with considerable
pleasure that the Chronicle is now
able to- give its farmer readers a
brief history Of the very success
full operations of the above Or
ganization.
The company of course start
ed with neither money or insur-
ance. but through a reasonable
amount Of good luck during the
first year Of existence. the efficient
management of it's officers and the
wise provisions injected into it's
bylaws. it has paid every loss
sustained by members of the Or
sanitation, has over $500, ,OOO.OO of
INSURANCE now ir force, aud q re-
serve fund of cash in bank of an
proximate!y 81, 10000. And not on
ly that. but every claim presented
by reason of loss by member
f,as been paid in cash Just as soon
as adjustment of loss could be
made after notification, usually a
period of about four days. Neith-
er has there been any controver-
sy over settlement of claim, but
rather the members have been in
spired with a new confidence
through the speedy and efficient
manner in which these claims
have been attended to and SET
tied.
Examination of the company
records reveal the fact that it
has cost charter members of the
company only $1,000 to carry
s1,OO0.O0 of insurance from or
Sanization to date. it is con-
fidcntially expected that this
amount will carry the insurance
for the full period of five years,
as the cash ON hand is expected
10 take care of the losses for the
balance of this year, so that the
$1,000 has not only paid the act-
ual cost of insurance in this COM
pany. but is has also created the
81 10000 cash OH hand.
The company has also acquir-
ed a very complete set of record
books and fire and burglar proof
safe in which some may he kept.
In view of the fact that the COM
pany has had no paid agents in
the field soliciting business, gain
ing business and membership on
ly through personal and inter-
mitent efforts of it's members, the
fact that it now carries over $780,
100000 of insurance, representing
over 400 members, its growth has
been very gratifying to it's officers
and members.
From organizations to date the
company has paid in losses and
expenses incident thereto, the
sum of S3,828.25.
The business is conducted in
the most economical manner, the
treasurer being the only officer
If the company who receives a
stipulated salary, s25. a year. The
other officers receive pay for just
what duties they perform for the
company. The secretary and trea-