The Morning herald., 1877-05-30
sxCs. .Sberakave oons unlug - QeloAl
I. Ites lnoaRunaoee DsvaoUee.i

N 41t
ssCs-Sbssative ssh. rlanG - Qsiaan
Ibee lneaGnnaepe psv1oNecs
IDlsen oS MosdtNQ He1txb;~x1 1ou
papof otthe 26th, IN ortlel6 1cA1kd eCo
operative scheming and kenuine Lle In
apfancey" to which with your psynl l1eiou,
destre TO make ouly 8 hsfei reply Aav
| no apology to offer IN regard to the Autua
Protection Company, Of Phlla6elphla, bu
would only sAy that ks managers are no
charged With dishonessy, pesjoSy Or swdnd
ling, % are The managers Of the coatinent
IL and Security, high rate 1Ife tnsursoc,
(co0pAnjes, bns the fsil0so comes - ; bat
ural aud necessary result OF tho bttdeog
choking, cramplDg operations OF the rini
assessment piAo, which pls1sI hsve 0
space to expose, unlesA called for. 20 IL
| this suface forthe Mutu Il Protection Ca.
We wish ell tho members of tho u. B
Mutual Aid Society and everybody else, te
take notice and remember that ft ID not I
| |oo-operstiye life insurance company, that itl
system, while It does embrace the m0ftpary
assessment plan, embraces features wholly
tcreign 10 cooperative liieipsurance, promi.
uent among which are, the payment oi
specific benefits, the keeping on hand, Z
reserve fund with which to meet conlineen-
c!es, and ignoring the ring asseosmel
plan. The society has now sixteen 0laesee
Of 1000 members each In successiul OPERA
tion. By admission of new members an
tie average age not allowed to 20 beyond IL
years, its aversge death ratio, since or&sn>
'xs,ivn In 1869, has; been ely ht TO thousand.
Toe assessments on members arc graduated
according 10 ago, from 80 cents ns fifteen
years TO gt3.65 At IS years.. IL guarantees
the members of each class, the amounts
cafes for the amount, with the initial
premium it also anticipates one assessment.
thus The company is alwsys supplied with
the surplus reserve fund, which At the press
ens time is over $l5l 900. By the class
System. each class is independent of the
o'her. The class system was adopted and
is still adhered to, and gloried IN BY she
Aid Society, to prevent deception and
fraud.
Some coAoperatives having no class system
bind themselves to pay as many dollars %
there are numbers In the company, when .
death occurs always holding out the idea
that the amount will never be less than
~ ,00O, hence 1t mas often occurred that ben!
{ tficiaries who thought their policies entitled
them to 81 900 have not r. eceived one fourth
that amount, let this be enough, uulest
more is wsntedby GLIB.
In his philanthropy for the citizens OF
Wilmington he says "there never was .
b. nett soti.ty ,,ekisted fifteen years. Has
be forgoteR the history Of The Masonic
brethern, the Odd Fellows, American Me-
chanics, and other beneficial organizations,
wnich hayeleng out>l,yed. his specified time.
Let him think before he writes 60, and
remember that they are only doing secretly
what U. B. does openly. Il
quote again, Whereas, it is not known
of each life insurance Office ever failing
in this country. What be means 10 say do
Dot know, be cannot point 10 one old live
company that insures without money, but
on The other hand they do go from twice OF
thrice the amount that the U. B. costs.
And as to noa- failure It's idle talk ignor,
anliy or desiguedly, foi it Is . well-know q
iact, that within six or eight years, some
sixty high>toned stock companies here fsil-
cd, while the Poor tleeced policy holders
nave bexailed their loss. As you want fac
and figures the officers voted themselves
Large salaries and poeketed the proceeds,
some Of them getting more than double per
annnm than the Presiden. Of the United
Sta,cs., - -
Again he says ~ advise all the people in
Wilmington, don't look for cheap Insurance,
1t ycu want good one you must pay high
price"
How very considerate, and friendly to-
ward the people of Wilmington, "dont
look for cheap insurance." xh |! inde. d.
why not! l hardly know whether to class
bin among the Agents of Lille insurance.
Cos, or is he clio, hier, as he advises tre
people not to buy cheap coats. In insur-
ance, as in ever. thing else, the cheaper III
|: is as good, or better, 60 much the more
desirable. So says
COMMON SENSE,