The Findlay Jeffersonian. [volume] (Findlay, Hancock County, Ohio) 1870-1881, 1876-03-31
NEW CO.pUPERATTyE SCHEME.
We clip the following from the Spec
oto. ox. I,Surarao I0urpal.

We clip the following from the Spec
tator, an Insurance Journal:
A co-duperative company has been
organized in Sandusky, Ohio, under the
auspices of the ex Rev. James s. Mccoy.
1t is called the Responsible Alliance "
Another has been formed at Wakefield,
Mass. under the title OF Wakefield
Mutual Benefit Society" The initiation
fee is three dollars, and the assessment
on the death of a member is one dollar
and ten cents Evidently there are yet
pigeons ready To be plucked. If victims
are found, il il Lot for waLt of sufficient
warning. The results of co Imperative
insurance are well summed up by Mr.
w. H. HUStin. of the Mutual Benefit
Lie Insurance company. in an article
published ia i.,' l. xiugto::. Kentucky.
Dispatch lie -a.~; y prominent tea
ture of co operative insurane. Is tie
uncertainty Of rv-rytEing com ected
with IT. I:., H'. Hni wi.jcil n policy
will yi,l.i i us,c,r.;,.u tile amount of
assessment II u..rCr;ain- the times for
payment are uncertaiu- the tenure of
membership is unc rtain-the claim to
indemnity is uncertain. But among so
many uncertainties there are some
things so certain as to be beyond dis
pnie. L. is certain that the losses will
be greater-that it will cost more to pay
them-that he who dies first will receive
most and pay least-that he who dies
last pays most and receives nothing
that the young pay too InGcli-that the
old pay too little that this plan will
ultimately fall to pieces, and that all
who have anything TO do with it will be
disappointed and cheated.
The Insurance Chronicle says:
Again We are compelled, by the fact
OF its incorporation in Philadelphia, to
notice a new CO operative Insurance
ccmpany--the New Era. We have grown
weary of reiteratiDg our opinion of all
schemes of this kind. The fatal defect
is that the insured is always Insured for
very uncertain amonnt. He can never
tell how much his family will receive OH
his dec, a'e, as that depends on the
number of persons who insure in his
class-dnd remain there. An approach
to justice would be made if the company
having promised to pay 81, 900 on the
death of n member, should levy the as
sessnent on the members of his class in
the proportion that the number in it
bore to /, 200; but if this were done the
mortality of this class of frauds would
be even greater than at present.
American Ins. Co, Chicago, in trouble.
Read what the Chronicle says:
The insurance commissioners of Mich
igan and Iowa have refused to issue new
certificates to the American Ins. Co., of
Chicago, until an alleged impairment is
made up. And now comes the Missouri
commissioner with this public proclama-
ton:
STATE OF MISSOURI, INs Dept, !
ST. Louis, March z, 1876
1t appearing from an examination
made by this department into the con
dition of the American iDs. Co, of Chi
cago. ILL.,, that the continuance of that
company to do business in this stale
would be hazardous to the public, notice
is hereby given that have this day re-
voked the certificate heretofore issued
by me to the said American Ins. Co.,
authorizing it to do business in the State
of Missouri CELSUs PRICE.
Superintendent.