Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1922-06-16
BEAVERS FORMED
IN STOUGHTON
Lodge Grows From Society OF
Few Hundred Members to
$30,0O0,0OO Insurance
Business

From special Beavers section
in the issue of the Wisconsin State
Journal (Madison) for Sunday, May
IS, commemorative of the opening OF
the impressive new Beaver home office
building in that city on June 1. we
take the following interesting sketch
of the origin and prowth of the Bea-
yer order:
The Beavers Reserve Fund frater-
nifty was chartered at Stoughton, Jan.
2, 1902 During the past twenty
years, the organization has grown from
society with few hundred mem
bers in Dane county to a membership
now of approximately 10000 with more
than S3O,OOO,OO0 of life insurance in
force.
The organizers and directors of the
company were all Stoughton men.
They were Ben E. Wait, attorney-at-
law; P. I. Hale, merchant; DR.. D. e.
Kelly, John Bailey D. e. Campbell,
DR.. n Omstead, A. J. Patterson, A.
II. Scholts, annd J. s. Hutson.
The 500 members necessary for the
organization of the company were OBJ
tanned in a comparatively short time,
and, as Indicated the Beavers were
chartered in Jan. 1902. The society
started at once in the campaign for
members in Wisconsin and Minnesota.
BY 1910, eight years later, approx
mately $10000,000 of insurance had
been written, and with "a very favor
able mortality record, the society had
succeeded in building up a substantial
fund.
Surplus Accumulated
When. the fraternity started it be-
gan upon a current cost plan with no
attempt to accumulate a reserve. The
real growth in assets of the society
dates from the passage of the valua-
ton law in this state, when the sOcie-
ty began to collect amounts which
would build up surplus. t h e
growth of the society continued with
out interruption and, with very ia
vorable mortality due to the low av-
erage age, a splendid surplus was ac
cumulated.
The Beavers from the start confined
their work almost entirely to WiscOn
sin, though some work was done in
Minnesota early in the history of the
society. The society today is Operat
ing in Wisconsin, Minnesota and Hi
nois, and while it has confined its
energies to these three states, it has
now in the neighbOrhOOd of 10000
members scattered over the United
States. The society today has more
than 100 local organizations in Wis
cOnsin, Minnesota and Illinois.
Office Moved to Madison
In 1913, considerable agitation de
velOped for the removal of the home
office from Stoughton to Madison
The matter was taken up with the in
surance department with reference tC
procedure and the matter was sub
mitted to the membership. During
that year, by a vote of almost two
to one, the membership decided that
Madison should be the headquarters
so i'll December 1913, the offices were
moved from Stoughton to the Gay
building where the affairs of the so
ciety have been administered during
the past eight years.
In 1920, the matter of acquiring
property and erecting a home office
building was taken up by the board
of directors. Early last year, LOT
was obtained at Monona avenue and
DOty street. and in May the contract
was let for the erection of the build
ing. The building was practically
completed May 10 of this year wher
the Beavers moved from the Gay