Evening Republican, Volume 16, Number 223, Rensselaer, Jasper County, 17 September 1912 — PARR CREAMERY GETS INSURANCE [ARTICLE]

PARR CREAMERY GETS INSURANCE

Secretary R. H. Elite Made Settlement With Connecticut and North* ern Fire Insurance Cos. The Parr Creamery Co., which had begun suit to enforce settlement by the Connecticut and Northern Fire Insurance Cos. for the loss sustained by the destruction of their factory at Parr several months ago, have effected a settlement out of court. R. H. Eilts, secretary and manager, was in Rensselaer Saturday and the deal was closed up. Special agents of the companies had been quite active in an effort to settle since the suit was filed. An agent from the Connecticut company spent two days here last week. He had authority- to settle for both companies butShis overtures were Turned down. Then came a representative of the Northern company. - He also had authority to make settlement for both companies and the terms he offered were accepted Friday and the papers drawn up Saturday. The building and machinery were insured for $3,850, of which each company carried $1,925. In the compromise the qreamery company received $3,100, which is $750 less than the amount for which insured. The full amount was allowed on the machinery, viz. $1,850. The building itself was over-insured, the policy being for $2,000. They were allowed only $1,250 on it. The company had previously settled for the stock lost in the fire, receiving SIBO. Among t{ie other assets of the company are the foundation of the creamery and the ice house. It is still possible that the company will rebuild but this will depend . upon effecting terms with the Wilson & Gilmore creamery, as it it. generally believed that the territory is* not sufficient to keep up two concerns. If. the company does not rebuild but decides to go out of business each share of stock will be worth about S6O. The original cost SIOO. There are 56 shares outsanding.