The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1919-04-24
Farmers Mutuals and Minnesota Fire.

= 49, AV4ANN1Z4 0AN OxNkOxNS 4 i
Farmers Mutuals and Minnesota Fire.
The effects of the northern Mime
sofa fire have been felt through many
channels. Not an Insignificant part of
it's devastation is represented by the
losses that are now faced by the far
mers' mutual fire insurance companies
in the fire district whose policy hold
ers became victims of that awful
catastrophe. There are some five far
mers mutual companies that had in
surance in force in the fire district
who have sustained losses aggregat-
ing $349, 360.79. Everyone acquainted
with local mutual fire insurance real
ICES what breaking burden this
represents upon such small number
of local companies as have sustained
this enormous loss. The success or
failure in the payment of the losses
sustained by the farmers mutual COM
panies up there will, it is believed,
be the making or unmaking of far
mers' mutual companies in the future.
Mr.. Farmer: You who have sought
protection against loss by fire in a
farmers mutual fire insurance COM
pany have shown your confidence in
the ability of your own class, the far
mers, to carry on business that is of
vital Importance as a safeguard for
yourself and your family against
losses that might be incurred through
some unpreventable fire. This pro-
lection is necessary; it is an indispen-
sable part of our modern agricultural
life because modern agricultural life
requires home, i. requires equip
ment, it requires farm buildings, it re-
| quires little industrial site all by
itself, and sane business sense has
told you that this little group of
buildings that represent your farm
home cannot safely be risked upon
mere chance for future existence.
Now, then, has the farmers mutual
been success? Can you conscien-
tiously look back over a period of
more than 80 years Of constant growth
in the state of Minnesota until the
farmers mutuals in the state number
100, and with insurance in force
amounting substantially to $460,O00,-
900, and say that it has not been a
success?
Now, Mr.. policyholder; lest has
come that is destined to determine
whether the farmers mutual fire in
surance principle is going to remain
standing or whether it is going to re-
ceive death blow, and the thing that
will keep it standing is your individual
willingness to live up to your slogan
of mutual helpfulness. But it is more
than farmers mutual insurance that
is at stake, it is the broader question
of whether the farmer as business
man is going to show the world and
those who would desire to see him de-
feated in his business ventures that he
can be depended upon to back up a
thing that he has set out to do; that
he is capable Of that degree of mutual
helpfulness that will enable him to
meet an unexpected circumstance such
as has been created among the five or
more farmers mutual fire insurance
companies in the fire district. Who
is going to pay the loss Scan the five
local mutual fire insurance companies
in the fire district do it? Are they go
ing to continue doing business or are
they going to be forced to quit? If
those hard-pressed mutuals in the fire
district fail to pay their policyholders'
losses, are farmers as an institution
to receive a black spot that they will
never be able to rid themselves of
The old line companies are paying
their losses up there; is the farmers
mutual going to prove itself equal to
the occasion, pay it's losses in the same
district and turn seeming disaster
into victory that will assure for it
continuance of the important eco
nomic service that it has so long car
ried on? ..
Who can answer these questions?
You who are policyholders in a far
mers' mutual can answer them. It is
estimated that if the farmers mutual
fire insurance companies throughout
the state raise rs cents on every thous-
and dollars of insurance in force that
the policies held by the fire victims in
farmers mutual companies will be
paid in full. That will be co-opera-
ton; that will be mutually; that will
be accomplishment for the farmers of
the state that will stand as a beacon
of worth for time to come. You who
are policyholders in a farmers mutual
insurance company in this state will be
asked to make such a contribution.
That will be your opportunity to make
good. Figure out how much you have
been saved through the years that you
have been insured in the farmers mu-
tual or what you will save in the years
to come against the cost of the same
protection if you were to secure it
from an old line company. Then fig
ure out what your share in this con-
tribution toward the guaranteeing of
the payment of the policies held by
the unfortunate victims of the fire,
many of whom have lost everything
%L1x, 1oI o~,l 49,