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THE BANK AND INSURANCE COMPANY. 175 



opinion did exist among Patrons at the inception of the enterprise, 

 as to the expediency of attempting to cany it through at the time, 

 and the prospect of its final success, the bank is now an established 

 fact. It has been in operation nearly three months, and the amount 

 of business done through it, and the superior facilities it affords for 

 the transaction of our business, are so apparent, that these differences 

 have become almost entirely removed. 



Patrons are now stockholders, I believe; fully double the number 

 of shareholders in any other bank in California, and these are from 

 every part of our State. By far the largest number of certificates 

 are for a few shares of stock. Thus the responsibility for its proper 

 management, and the benefit to be derived from it, are shared by so 

 many members of our Order, that it is in reality, as well as name, 

 the Grangers Bank of California. 



From the opportunity afforded me for observation, I am able to 

 say that all the business transactions and all the financial arrange 

 ments are carried on in such a safe and conservative manner, that, 

 as long as the present policy is pursued, I cannot see how any dis 

 aster can overtake it, or any injury arise from it. The interests of 

 the stockholders are so well guarded, and their control and man 

 agement of it so directly in their own hands, that nothing but gross 

 neglect on the part of the friends of the Bank will ever allow any 

 advantage to be taken of it, or a loss sustained by those investing 

 money in it. Over 1,300 Patrons are now stockholders in the Bank, 

 having 10,802 shares. This, I believe, is more than double the 

 number of stockholders in any other bank in California, and they 

 are from every part of the State. Thus the impossibility of its im 

 proper management. 



The Grangers Insurance Company meets a great want among the 

 agriculturists of this State; and Patrons, instead of having to depend 

 upon others to assist them in repairing losses, which from time to 

 time are sustained from fire, have a friend of their own, bred and 

 born in the Order, managed and controlled by themselves, of but a 

 short existence, still fast assuming vast proportions; and from the 

 rapidity with which Patrons are availing themselves of the security 

 it affords them against losses, its popularity is becoming more and 

 more manifest, and confidence in it is becoming stronger every day. 

 Its policies embrace all the most improved features adopted by other 

 fire associations; the care exercised in taking only what are termed 

 by all underwriters first-class risks; the low rates of premium re 

 quired all recommend it strongly to the patronage of our Order, 

 and all should unite in availing themselves of the benefits to be de 

 rived. 



And now, Patrons, let me again remind you, we have our task be 

 fore us, and all our ability will be taxed to devise plans to accom 

 plish it; all our energies will be required to carry it into effect. If 

 we are but true to ourselves and the cause we have espoused, by the 

 light of the new era which has dawned, we will secure better and 

 brighter days for the tillers of the soil than they have ever enjoyed. 

 We will establish a test of true manhood, and make honor, honesty, 

 and capacity the crucible in which to try men s fitness for place and 

 power. When this is done, we will realize the benefits we have 



