Page:History of Goodhue County, Minnesota.djvu/287

 HISTORY OF GOODHUE COUNTY 229 in one year. The yearly expenses are very low compared with other companies of about the same size. During 1908 it amounted to only $596.21. This shows that the company has accomplished its object of being a money-saving institution. The insurance rate prior to 1906 in this company was three mills on the dollar for five-year terms, bu1 this rate proved to be inadequate to de- fray expenses to pay the losses, so the rates were raised to five mills, and as since January 11. 1906. no assessment has been made, it appears that the present rates are sufficient. The following report furnished through the kindness of A. H. Tongen, secretary of the company, shows the great amount of business done since .May 27, 1876. The policies issued have amounted to 5,513, and have covered an insurance of $9,272,364. The policies cancelled have amounted to 4,319 and have covered an insurance of $6,871,- 771. This leaves in force 1,194 policies, covering an insurance of $2,400,771. Receipts — Membership and policy fee, $36,081.05; assessments, .+23.284.00; interest. $507.51; borrowed, $795.54; other sources, $10.33; total receipts, $60,678.43. Disbursements — Losses caused- by lightning (444), +20,170.88; losses caused by fire (88), $24,833.80; losses caused by steam thresher (19), $967.71 ; (total losses, $45,972.39) ; paid back bor- rowed money. $795.54; other expenditures, $12,912.17; total paid out. $59,680.10; credit balance. December 31, 1908, $998.33; total, $60,678.43. Martin Halvorson, Sr., now deceased, was a pioneer merchant of "Wanamingo. Quiet in his manners and disposition, he never sought public life or office, but his many good qualities endeared him to all with whom he came in contact. He was born in Nor- way in 1842, and came to America in 1866, locating in AVana- mingo township. Soon after arriving in this county he entered the employ of H. C. Serum, who kept a general store in Wana- mingo village. In 1872, Mr. Halvorson purchased the establish- ment and one year later was appointed postmaster, a position he held until 1898. His store was a great success, and not only did the farmers for miles around seek his place to purchase goods, but also to ask advice and to secure Mr. Halvorson 's opinions, which were always sure to be sound and good. Mr. Halvorson was married in 1873 to Greatha Bjornethun, also a native of Nor- way, by whom he had seven children: Henry. Lena (deceased). Rev. Jens, now of Ashland, "Wis. ; Lena, now Mrs. (Rev.) M. Thom- son, of New Folden, Minn. ; Martin, Frederick, who is on the old homestead, and Gustav, a student in the law department of the state university at Minneapolis. Mr. Halvorson died in 1899, and his widow still survives.