The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1921-01-20
LOCAL lNSuRANQ' ..... y,
CO: SHOWS GAIN

~
TO THE MEMBERS OF THE SCAN
DINAVIAN FARMERS MU-
TUAL ms. co. F..
Another year has passed round
completing the 26th year Of the ex-
istance Of the Scandinavian Farmers
Mutual Insurance Co. During these
years we have grown steadily until
we now have $5,300,O00.0O Of insur-
ance in force, being one of the largest
companies in the State. During all this
time we have not had any serious dis
pute in regard to payment Of losses,
nor have we had any law suits. All
legitimate losses have been paid
promptly. I think therefore, we are
justified in making the statement that
this organization has been a success,
thanks to the cooperation and loyalty
of it's members. r5#s..~ ...,.a.. b.
The past year has been successful
and favorable one in regard to losses.
We have had about $4770.00 of losses
as compared with more than 100000
for the year before. It was therefore
possible to reduce the usual levy Of
assessment from two mills to one and
one-half. This reduction will undoubt-
edly be appreciated under the present
hard times when economy must be
practiced in every possible way.
Your President and Secretary at
tended the meeting of the State As
ISOLATION Of Mutual Insurance Com
panies held at Rugby in July. This
association, in our opinion, is of great
benefit to the local companies Of the
State. The problems that we, as di-
rectors and officers of the local COM
panies are confronted with almost ev-
cry day, are discussed, and thus we
will profit by the experience Of 9th
ers. sn .~ ..
One of the most important questions
at the present time, and one that
seems to be agitated and discussed
all over the country is the question
of reinsurance. At this time of high
prices Of material and labor our men,
bers desire to have more insurance
and in order to be reasonably protect
ed some of the risks will be more than
a small company can safely carry.
Therefore some method, whereby
large risks could re-insured and mem
bers of the local company relieved OF
possible excessive assessments, IS
highly desirable. Preliminary steps
were taken at the last meeting OF the
association to organize such re-insur-
ance company by appointing COM
mittee to work out plan and report
to the next meeting. Harry P. Coop
er, Secretary of the National Assocla-
ton, was present and gave us some
valuable information and suggestions
along this line.
The State Fire Marshall delivered
an address on fire losses and fire pre-
vention. He stated that the fire losses
in 1919 in this country amounted 10
1925 .O0O, 100000 or $90O,000.O0 day
for every day in the year. The prop.
erty destroyed by fire in the United
States in 1919 represents per caplta
loss of 1918 as compared with o1
cents in England, 81 cents in Austria
Is cents in Germany, Do cents IN
France and $1.10 in Russia. This
shows the criminal negligence OF the
neople Of this country with regard TO
fire protection and fire prevention he
ALSO stated that the most common
causes of fire on the farms are hgnt,
ninr, defective chimneys, unprotecteo.
stoves and the careless handling OF
kerosene and gasoline. .
In this connection I wish to impress
an all the members the importance OF
providing the buildings with lightning
rods. I have compiled some data on
this matter which shows that OF twen-
= companies reporting in this state
there was not loss by lightning on
rodded buildings, while the same num-
ber Of companies had $5OO.OO losses
Nv LIGHTNING on unrodded buildings.
v. N. Valgren Of the Agncniturai
Department Of Washington, D. T., ex-
nlained q system Of bookkeeping TOT
farmers mutual insurance companies
which was very interesting and m
structive, and number Of secretaries
EXPRESSED their intention Of adopting
the system.
As members and friends Of mutual
insurance we must see TO II that the
interests of our organisation are pro-
tacted. There are powerful forces
seeking to destroy mutual Insurance.
both through agitation and through
legislation. / wish to quote from 9
speech delivered ~ Edison s. Scott,
President Of the United States Casu-
atty Company, to the Fire Underwrit'
ers Association. l.
Mutual Insurance, whether recap
rocal or inter-insurance, state fund or
i,,st nlain mutual as usually promoted
and practiced ii this country, is the
thins end 81 the wedge of socialism and
communism. The end is nationaliza-
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