The Southwestern Historical Quarterly, Volume 44, July 1940 - April, 1941 Page: 51
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The Cooperative Movement in Texas, 1870-1900
1897. Although the president secured a charter, it could not
be used until all the legal requirements were met. In 1885 the
Legislature repealed the law mentioned, and the Grangers began
operation on the stock that had been issued and on the policies
covering $120,000 worth of property that had been sold.8 Be-
fore the beginning of 1886 losses incurred by policyholders were
being paid.s" After three years, in 1889, the Association pre-
sented a very favorable picture. The expenses and losses were
so small that it appeared that in a few years the savings from
assessments would be sufficient not only to make further assess-
ments unnecessary but also to pay annual dividends.83 The total
number of policies issued were 100 in 1891. Cooperative asso-
ciations held fifty-five, individual Patrons held thirty-three, and
subordinate Granges held the remainder.84 When the Texas
Cooperative Association which handled the funds of the insur-
ance company became unstable the existence of the company
was also endangered. Consequently a number of policyholders
ceased paying their assessments. Many Grange stores hold-
ing policies died.8" In 1897, G. B. Lundy became president,
J. C. Isbell acted as adjuster, and Rose became secretary and
treasurer." In entrusting the funds to the Texas Cooperative
Association the Patrons made a grave mistake. In 1899 the
Texas Cooperative Association owed the insurance company
over $4,000 and was unable to pay any of it." When Niblo
gave a lien to the Island City Savings Bank on all the property
of the agency it was evident that the twenty-six policyholders
would not receive any remuneration.88 Rose made several un-
successful attempts to hold a meeting of the directors.89 Noth-
soCopy of By-laws of Texas Mutual Fire Insurance Association, Patrons
of Husbandry, April 21, 1882, Rose Papers.
81"Minutes of Texas Coperative Association," pp. 215, 231-232; Rose
to John D. Templeton, Aprii 25, 1885, and "Patrons of Husbandry," April
[28(?)], 1885, Rose Letter Book.
SRose to Rogers, February 23, 1886, Rose Letter Book; Rogers to Rose,
October 24, 1891, Rose Papers.
"8Proceedings of Texas State Grange, 1889, p. 8.
84Rogers to Rose, October 24, 1891, Rose Papers.
8-Rose to Waltmon, November 12, 1896, Rose Letter Book.
",Rose to J. C. Isbeil, November 12, 1890, Rose to Lundy, August 20,
1897, Rose Letter Book.
87Rose to J. T. Farriss, September 2, 1899, Rose Letter Book.
88Rose to B. F. Touchstone, January 30, 1900, and March 5, 1900, Rose
to Isbell, and Rose to W. R. Young, March 5, 1900, Rose Letter Book.
89Rose to Mitchell, April 17, 1900, Rose to Lundy, May 30, 1900, Rose to
John Willow, November 20, 1900, Rose Letter Book.
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Texas State Historical Association. The Southwestern Historical Quarterly, Volume 44, July 1940 - April, 1941, periodical, 1941; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth146052/m1/59/: accessed May 26, 2018), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting Texas State Historical Association.