The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1874-01-27
THE MASONIC LIFE INSURANCE
COMPANY.

Auuidna otdle y University. n. c.
THE MASONIC LIFE INSURANCE
COMPANY.
DOUBTFUL THOMAS WANTS TO Know, AND
ASKS SOME QUESTIONS.
To the Editor of the Sentinel
SIR:-I desire the use of YOUR columns to
| say word about the Masonic mutual benefit
insurance organization. The secretary, Mr..
j. o. Martin, is always anxious in his re-
ports To the Masonic Advocate, to show how
cheap we get our insurance, but / have yet
to read the first report to show how much
money has been collected in full, and what
has become of it. That the matter needs
looking into, is to me very evident. That
| the plan of insurance is poor one, every
business man knows; but among masons,
the object being a high and sacred one il is
cheerfully supported, That abuses may
creep in Is not surprising. This Masonic
! life insurance organization was started in
business in August or September, 1862
being now four years and a half old, since
| the date OF the organization. / take it for
| granted there has been 5000 members taken
| into the organization. Each member, upon
| receiving a certificate or policy, must pay
six dollars. This would make $50, 900 re-
ceived, as permanent fund. But
allow that there has been $4,000 paid
| for the securing and examination of this
| 5000 members, there would still be S20O 600
| as guarantee fund on hand, which, if pro-
perly invested, ought and should pay the ex-
pense of running the society, as only one
man is required to attend to it, and at that it
is nice, easy, pleasant place, worth no more
| than 8, 500 per year to fill. The guarantee
| fund, or the interest thereof, ought to be
amply sufficient to run the organization
According to the last notice, there have been
las deaths, and the same number of assess
mania Tho 0arfifQQfQa G tafa fhaf thara hal
be 20 cents less paid to the heirs of the de-
cedents than there is collected from the
members. Say they collect from four men,
bers 81 so. they only pay 81 to the decedents'
heirs. Take 1t for granted that the average
assessments on each death has been 1900,
you can readily see that 20 cents more col
lected than ever paid over, amounts, on
each individual member dying, to
| $500. There has been las deaths,
and taking the $500 as before shown that has
been collected, the sum of $4,000, more
than was ever paid to the heirs of decedents.
Allow to agents for collecting this sum, or
on the total amount collected, $35, 900, and
we still have $50 900 more collected than has
ever been paid to decedents. Can any one
| tell where this sum of money has gone to?
/ would like tor the managers of this
masonic insurance organization to show to
the public, as well as to masons, what has
become of this sum of $4,000. believe
careful figuring will show worse state of
facts than 1 have given, but FOR the present
/ refrain, as it may be possible the organiza-
ton may have from seventy-tive to one
hundred thousand dollars on hand, and it
may escaped my notice or faded from my
| recollection. II.
TERRE HAUTE, IND, January 49, 1873.
AS TO THE MUTUAL BENEFIT.
RESPONSE TO DoUBTING THoMAs-ooL.
| MARTIN CLEARS THE DECK AND OPENS ON
THE ENEMY.
| To the Editor of the Sentiael;-
SIR: In the Sentinel this morning find a
communication regarding the Masonic Mu-
tual Benefit Society dated fiom Terre Haute
and signed "H,'' in which the writer at
tempts to make it appear that there
is something wrong in the manage
ment of the society. Every member
who has read the article, has already discov-
cred that the writer was either grossly ignor-
ant or designed to misrepresent the society.
Many ADLER men have attempted to write
down the society and have signally failed,
the facts being against them. Was it not that
some may read the communication from "H "
who are rot familiar with our history, /
should rot take time from tie
more important duties of my Office
to answer the puerile communication.
The writer says: "The secretary, Mr.. ]. o.
Martin, is always anxious, in his reports to
the Masonic Advocate, to show how cheap
we get our insurance. In this statement
'tH." is entirely right. / have not only at
tempted, but have shown and demonstrated,
that the society has furnished insurance to
Indiana Masons, for the last four and half
years, at less than one-half the cost of the
same amount OF insurance in any society or
life insurance company in the world. No
iifr insurance man has ever even attempted
to disprove this, and al, - whois writing in
the interest of life insurance monopolies,
does not deny it. The next startling propo-
sition made by "a" is as follows: II have
yet to read the first report to show how
much money has been collected in full aud
what has become of it," If this is true it is
not our fault. We have published in our
first, second, third and fourth annual reports
a statement of the exact amount
year, and also an itemized account
of the amount paid out for losses
, and expenses. These reports have been ex-
amined by committee appointed for that
purpose. together with all the books. ac-
counts and vouchers of the secretary and
treasurer, upon which these reports We're
based, and the committee has Do
CERTIFIED IN EVERY CASE
That the reports were correct to a cent.
The members assembled at these various
annual meetings have expressed their ap-
probation by unanimously adopting these
reports and unanimously re-electing the
same officers to conduct the business of
the society. I respectfully refer broth
or "H." to these reports. II he
! has no copies in his possession
shall be pleased to furnish them % him.
He will find in them much more valuable
Information than in the insurance docu-
ments he has been accustomed to read as an
insurance agent.
y If he is not satisfied with these, il he will
come to our Office we will give him access
to our books and inform him fully regard
ing those matters of which, according to his
own statement, he is entirely ignorant, and
those things he has "taken for granted
without reading to inform himself of the
facts. All the rest of the article is based
upon assumptions entirely incorrect, hencs
] ba "