New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1921-01-26
NEW SWEDEN MUTUAL WON'T
PAY FIRE LOSSES FROM
THIS SOURCE.
$s,s5s,3s0 OF INSURANCE is
NOW IN FORCE. PAST
YEAR WAS GOOD.

to come as a result of a resolution
passed at the annual meeting, of the
New Sweden Mutual Insurance Com
pany which took place at Blanks
hall, Nicollet, last Monday afternoon
says the St. Peter Herald. The reso-
luton is as follows:
Resolved: That the New Sweden
Mutual Insurance company shall not
be responsible for any losses by fires
caused by public dances or so-called
barn dances held in barns. or on
premises insured in this company"
m Country Dances Taboo.
Under the terms of this resolution,
which will be inscribed on the policies,
rural dance pavilions are also included.
1t was held that the hazard caused by
cigarette smokers at these dances was
greater than the insurance company
was called upon to- stand. The reso-
luton was introduced by Joseph
Altman Of West Newton township.
$S,859, $3.50 Insurance.
According to the secretary's report,
the company now has insurance in
force of S8,859,38O, or more than a
million more than last year, after all
expirations and cancellations have
been deducted. The last year has
been one Of the most prosperous in the
history Of the company. A total OF
$2,830,820 of new insurance was
written, while the cancellations and
expiratio aggregated $1,730,616. The
net gain for the year ending Deem
Der 81, 1920, was $1,100,104. This
company, from the standpoint of the
amount of insurance carried, is one
of the largest in the state and its
record in the past is tribute to the
efficient conduct Of it's business by
its directors and officers.
Officers Reelected.
John Adrian Johnson was reelected
president of the company for the
coming year, Ole Peterson was chosen
president to succeed himself and
j. M. Turner was unanimously re
elected secretary -treasurer. The di-
rectors, whose terms expired and who
were unanimously reelected, are
Joseph Altman, Mic Reinhart and
Theo. Ostrom. The board is also
composed of the following directors
whose terms remain unexpired: Ole
Peterson, John Adrian Johnson, Chas
Samuelson, j. NJ. Turner, Henry
Enter and John Keltgen.
Fifty policy holders Of the com
pany were present at the meeting
which took place at 1880 p. m. Presi.
dent Johnson presided and the report
of Secretary Turner was read by A. 3
Burmeister, assistant cashier of the
Citizens State Bank Of ST. Peter. Mr.
Turner was unable to be present at thu
meeting owing to i'll health. Tit
secretary's; report and the report O
the auditing committee were found
satisfactory and were ordered in
scribed on the books.
Policy Changes Discussed.
The question Of shortening tn,
term Of the policy from five to thre,
years was then discussed, and, as {
state law sets a precedent Of fv,
years, Ole Peterson suggested tina
no action be taken on the matter which
was carried over from last year. Tn,
matter Of afixing stipulated premium
on each policy was then discussed, bu
a motion was carried to continue OF
the old assessment plan. The argu
ment for a yearly premium was tn,
creation of surplus fund to eliminat,
the spasmodic assessment to adjust thi
Losses. 1t was decided that new farm
machinery such as tractors small
|threshing rigs, milking machines, farm
Hight plants and such like be rated tn
same as personal property in writin,
insurance.
i During the discussion, John Kelt
gen brought up the matter of increasint
the valuation Of hay in barns. FL
commended that new and larger barn
were being constructed for the pul
pose of roofing the best of the croI
and therefore such hay ought to b
valued higher than that which is LEI
4 in the stack. He then introduced
resolution which was carried, instruct
ing the board to increase the valuatio
on this commodity to a sum not es
ceeding So per ton.
. Affiliation Not Favored.
Joseph Altman, one Of the dele
[gates Of last year to the annual stat
convention was asked to make e
port. He informed the meeting tina
the local delegates voted against th
afiliation Of the Southern Minnesot