Manuscript Group 67
7 linear feet
The records of the Consolidated Insurance Agency of Wallace, Idaho, were donated to the University of Idaho Library by Henry L. Day, one of the directors and a major stockholder in the company, in September 1971. They were processed by Judith Nielsen in July 1985.
The Consolidated Insurance Agency was organized in 1919. The original shareholders were local business and mining men who were in a position to direct considerable business to the company. Over time, through death or removal, many shares passed to non-residents who were not in a position to assist the company.
Additionally, in the early 1960's radical changes occurred in the insurance industry. Nation-wide organizations advertising on television introduced direct selling, thus eliminating the need for local agents. The cost of insurance rose, but the commissions paid to local agents decreased. These changes resulted in a declining income for the company, while the cost of doing business increased.
With the probability that these trends would continue, the directors decided to sell the business and entered into negotiations with the Rossi Insurance Company of Wallace which purchased Consolidated in June, 1964.
The records of the Consolidated Insurance Agency span the years 1921 to 1964, with the bulk of the material covering the years 1958-1962.
The papers include correspondence with insurance companies and policy holders, business licenses, minutes of several directors' and stockholders' meetings, property, income & withholding tax statements, balance sheets and financial ledger sheets.
The material in this record group retains its original order. Although material was refoldered, the original folder headings, when present, were used.
The correspondence is in two sections, the first is arranged alphabetically by insurance company, the second, alphabetically by policy holder. The business records are separated by type and each is arranged chronologically. The same arrangement is used for the financial records with the exception of the three boxes of ledger sheets. The first of these boxes (#5) contains the 6 most recent years (1958-1963) and is separated by year; each year contains three sections, one is arranged alphabetically by insurance company, the second appears to be a record of rental property and is arranged alphabetically by owner, and the third contains the Accounts Receivable and other similar headings and appears to be in the order in which these items appear on the balance sheets. The second box of ledger sheets contains the earlier records but in a single sequence. The last box contains records of individual policy holders and is in alphabetical order by name of the policy holder.
Cancelled checks, agents' copies of policies, receipts and invoices were discarded as were duplicate copies of financial statements and mimeographed material. In all, approximately 3 c.f. of material was removed.
I. Correspondence, 1957-1962 A. With Companies 1-2 B. With Individuals 2-3 II. Corporation Business Records, 1943-1964 3 III. Financial Records, 1921-1964 3-7
Box Folder Description Items
1 1-2 Aetna Insurance Company 174 3-4 American Insurance Group 180 5 American National Insurance Company 9 6-7 Balfour, Guthrie & Company 84 8-9 Continental Insurance Company 154 10 Farmin Insurance Company 32 11-12 Farmin, Rothrock & Parrott 273 13 Fidelity & Deposit Company 20 14-15 Fireman's Fund - Automobile 364 16-17 Fireman's Fund - Fire 141 18-20 Fireman's Fund - Miscellaneous 788 21-22 General Insurance Company of America 231 23-24 Glens Falls Insurance Company 236 25 Great American Insurance Company 98 26 Hanover Insurance Company 70 27-28 Hartford Accident & Indemnity - Bonds 282 2 29 Hartford Accident & Indemnity - Miscellaneous 47 30-31 Hartford Fire - Fire 164 32 Hartford Fire - Miscellaneous 37 33 Hartford Steam Boiler 74 34 Holland America 10 35-36 Home Insurance Company 206 37-40 Industrial Indemnity - Compensation 684 41 Insurance Company of North America 61 42-45 Liberty National Insurance Company 582 46 Minneapolis Fire & Marine Insurance Company 22 47 New York Underwriters Insurance Company 14 48 Old Colony Insurance Company 15 49 Oregon Mutual Insurance Company 59 50 Pacific Indemnity Company 13 51-52 Prudential Insurance Company of America 251 53 Springfield Insurance Companies 69 54 St. Paul Fire & Marine Insurance Company 33 55 Standard Insurance Company 10 56 Sun Insurance Company 5 57-58 United States Fire Insurance Company 112 59-60 United States Fidelity & Guaranty Company 153
2 61-64 A-D 288 3 65-73 E-M 752 74 Monitor Mining Company (1946-1959) 84 75-82 N-W 362 83 Wallace Realty (1940-1960) 20 84 Wallace Supply Company (1943-1961) 268 85 X-Z 21
86 Licenses and Annual Statements, 1952-1963 71 87 Notices and minutes of meetings, 1943-1964 59 88 Proxy Statements, 1951-1964 379 89 Stock transfers and dividend payments, 1953-1963 34
90 Property Taxes, 1953-1963 19 91 Employer's Quarterly Withholding Returns, 1958-1962 209 92 Corporate Income Tax Returns, 1957-1960 16 93 Bad Accounts, 1949-1961 14 94 Salaries and commissions, 1951-1960 12 95-97 Profit and Loss Statements, 1957-1960 28 4 98 Check Stub Books, 1959-1961 7 99 Cancelled checks, Real Estate Trust Account, 1959-1961 34 100 Journal Entry slips, 1959-1961 1200 5 Ledger sheets, 1958-1963 600 6 Ledger sheets, 1921-1958 850 7 Policy holder ledger sheets, 1933-1964 800