Farmers Mutual Ins. Co. of Roselle, 1899 History

MANY

Posted By: David Reineke (email)
Date: 1/19/2007 at 00:35:39

I translated the following article from Der Carroll Demokrat, a German-language newspaper published in Carroll, Iowa, between about 1874 and 1920. It was originally published in a special 25th Anniversary Edition of the paper on Friday, 20 September 1899. Words in quotations are original. Any information in brackets or notes at the end are my own explanations. It reads as follows:

Farmers Mutual Insurance Company of Roselle for Carroll County, Iowa, Against Fire, Lightning and Tornado.

This organization was established on 24 March 1876 under the name “Hillsdale Mutual Protection Society Against Fire.” The first officials were: P. J. König [Koenig], president; Bernhard Püttmann [Puettmann], secretary; B. Wichmer, treasurer; John Walterscheid, John Meyer, and Louis Schenking, directors.

On 31 December 1876, the society had 36 members with $11,500 worth of insurance. It expanded somewhat, but also contracted at times, so that by 31 December 1883, seven years after it was established, it only insured a value of $31,495. But from this time on, it grew and strengthened every year.

On 19 December 1896, the society was reorganized, and in accordance with state law it was incorporated under the above name. At present, the company counts 290 members with an insurance value of $540,000. The officials are: P. J. König, president; B. Espenhover, vice president; J. C. Schwaller, secretary; A. M. Steffes, treasurer; Joseph Werner, H. Brincks, H. Langel, J. Sextro, H. Petersohn, and J. Mattes, directors.

The cost during the last years amount to only $4 per $1000 of insurance for the entire period. During the same time, $3,971.48 was paid out for losses. During the existence of the company, the members have saved many thousands of dollars through this mutual insurance, and the company is highly recommended to anyone wanting to insure their property cheaply and reliably.