Evening star. [volume] (Washington, D.C.) 1854-1972, 1867-10-04


Messrs. Cingset IL Sweeny. NO. a Marks
Space, at haif.past Z O'clock. Prominsn,
among those who were present, were Messrs
Cornelius Wendell, formerly Superirts u de n,
s "a pnSii9 prin,lns Hugh B; Sweeny. Or
turnel, OF the Cooper Institute, N. "; lr Ms
Cueu. and Vim. IL. 30 wsa. The meeting was
calico to order at the hour designated, when
eaiiedto the chair, and Hugh B. Sweeny, Esq
was re ues led to act as secretary.
>, M. DisturIell, OF the Cooper Institute
view YORK the pioneer OF the new insurance
movement In this District. addressed the inset.
ing at somelength IN advocacy OF the establish.
Z ent OK q life insurance company here, upon
principles of strict bene evidence and expressed
tne psiiei toat sueh al one as at present pro
poeed would without doubt succeed and he
the means OF doing great deal of good. lie
then procee dea 10 read the following circular,
which explains the principles upon which the
ASSOCIATION IS te be rovernsd. ,nterpers'ne
portions CT the same with remarks and ID eli
plan
ni' il proposed to establish in the city of
Wash ngton Benevolent Life insurance As
soeiauon. under The above title. on the follow
Ing cooperative plan. to wit: Zach and
every member. male or female. enjoying ordl-
nary health, on the payment OF one dollar AZ
the lime Of subscribing. and one dollar addi.
noDal on the desth OF any one member OF the
co-operatcrs. shall enjoy ali the benefits of the
Association To 60 into full operation on the
=
'The pay ment Of the first zone dollar, !" sh al
60 INTO the hands OF the Treasurer. after pay
ing preliminary expenses, as a permanent
Association. The after payment, or payments,
OF one dollar, to be paid the Treasurer on re-
ceiying written notice of the death of any
retary or Actuary, or within fifteen days there
alter, said notice to be delivered personally or
addressed to the residence of the associate
All such amount so paid by the subscribers or
M No a. 10 t,aN, hal
next following fifteen days be paid to the Wife
husband, or nearest of kin to the deceased,
liess ten per cent? unless otherwise ordered
by the deceased associate at the time of sub.
scribing and making his OF her first payment:
friend or relative. as directed.
Two or more friends may mutually agree for
each others benefit, the living party or par
ties to receive the dividend. or be allowed to
duplicate the payment of one dollar as often
as desired for friends or relatives, naming the
themselves to pay two or more dollars On the
death of an associate. A whole family NAV
thus be included in the advantages to be de.
rived from the association.
"In case OF the non.paYment of the said on e
dollar. or more, on the death of an associate,
or within fifteen days thereafter. the della
quent TO forfeit all the benefits of the associa.
ton; unless, provided. the further sum Of one
dollar be paid the treasurer within thirty DAYS
after the date or delivery of said notice IL
omitted beyond thirty days, then such name
or names are 10 be stricken of the books of The
association. death by suicide, the policy TO
be null and void; Also death caused by an as.
sociare. = =.
:.Receipts properly authenticated and sealed
association, in a suitable book or books kept
for said purpose, where the names, residence,
date Of birth, nativity, decease payments, &c ;,
shall all be duly recorded.
"The officers to be chosen by the Associates,
annually, to consist OF President, Treas urer
Secretary; Actuary and five Directors form
ing the Board OF Managers, who shall have
power to make by-Iaws-five constituting &
quorum.
provided one thousand co-operators are
obtained in the first year. and fifteen deaths
occur, the following would be the financial re-
suit:
Entrance fee for I,G8a membe &, coo
Estimated receipts 10 pay dividends. %. Is 600
Ioidffeceipts .......... Sl6.0,D
ESTIMATE EXPENSES. ETC.
For obtaining LOCO members say 800. $500
% saiflies ......... ...........-- 1,2n0
For stationery, pruning, &c ... aN
For paying dividend, after deducting 10
per cent $500, .................... 1860
oalance IN treasury. Observation-Disclosures. 500
$1,000
II the undertaking increases so as tn
double, or quadruple, in after years then the
expenses Tor salaries, Office hire, &c, could be
increased in about the same ratio, leaving a
surplus for building fund.
!" ACCORDING to the medical statistics OF the
United States army, the average number whs
die annually In every 1909 men rs l5.''
Following the reading of the above, Mr. Dis.
turneii referred TO the favorable consideration
" hich had been given the insurance PROJECT by
me press OK New York, and read from the col
umEs OF the newspapers OF that CITY a number
OF extracts recommending 1t TO the considera-
ticn OF the public. incidentally. artent on was
called to the fact that no life insurance com
papy had ever yet failed, and it was, there.
lore, hardly possible that this one, the last
ever yet proposed would not be success. He
concluded by suggesting that the initiation fee
ton of deaths in the District of Columbia were
as fifteen in one thousand, while in New York
II was less, and, therefore, the dram upon the
members was not SO severe In the latter place
medical gentleman, whose opinion was
GALES for, expressed the belief that Washing.
ton was much healthier place than New
YORK, SO Tar as the citizens proper were con.
cerned; but when the floating population is
taken into consideration, perhaps such was
not the case. He thought the entrance fees
should be graduated according to the respec.
tive ages OF the appllcant-say one class from
from forty to seventy yeare of age. The
speaker thought the proverhial beneyolence
OF Mr. Disturneil had made him too sanguine
OF what the association would realize: but
still there was not the slightest tear tina, the
enterprise would fail.
Justice Clayton spoke briefly upon the sub.
lect. He thought, to insure success, we should
limit the number OF subscribers. We Should
start with one thousand, and, If expedient, in
crease II to two thousand; but the association
should never exceed four thousand. After this
number has been obtained, new organizations
should be gotten up. 1t was not intended TO be
u money making concern, but simply TO ex
tend It's Dement'S to the mem bers generally.
We would not need many salaried officers
7 he MT who solc tsd subscribers should re.
ceiVe remunerattve ncome; say, about Is or
~ per CT MT He thought the maximum annual
expense 10 each member should not exceed ff.
teen dollars; and the better TO secure at all
tunes an ample sum in thu treasury to meet all
emergencies, two months instruments should
be paid in advance.
mr.. II. sturnelI Then announced that as the
result OF his exertions, he had already procur.
eo one hundred names TO the call for organi.
ZaIioD.
On motion Of Justice Clayton, 1t was re-
solved that all parties whose names have been
m"mbers OF the temporary organization, and
therefore be allowed 70 vote and act other wise
= members ,...,.-...
Mr.. Clayton further moved that when the
meeting aoJourns 1t adjourn 70 meet again on
the first Monday night in November, when an
election OF permanent officers will be held and
a constitution and by laws submitted Agreed
to-
The question arising Of an election of tenn
pol airy officers, as announced in the meeting
call, Mr.. Clayton moved that the present on
GERS (Mf ssrs. Wendell and Sweeney DO con-
tinued till the next meeting. Agreed to-
On motion Of Mr. Haley, committee of five.
consisting Of Messrs. Clay ton, Haley, Sheck.
ellis. Col. Boyd, end DR.. McCuen, were APP
pointed to draft u constitution and bylaws tor
The government OF the association, ana to re.
port the same At the November meeting.
Mr.. VIM. II. Boyd was elected temporary
tr a ror M I "a