The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-08-12
1NsURINa THEMSELVES.

THE MERCANTILE BENEFIT AssocrArIox-A
AscE FOR LITTLE MONEY.
There has lately been termed BY young business
organization known M the Mercantile Benefit
Association Of New York. The object Ia TO obtain the
benefits OF life nsur directly, 10 as economical q
manner possible, and without the risks which
svsnts have shown be indispensable from insur
In many companies The plan Is exceedingly
simple, and from the provisions Of the articles OF In
corporation no accumulation OF funds can occur
much over and aoove those necessary 10 pay
one death loss and the running expenses Investment
Of the funds received not part oil the plan, they
are deposited bank under the head OF SPECIAL assess
ment iund that The chances OF loss in this way are
but sight There no large running expenses with
the exception OF secretary ana treasurer, who re-
ceives five per cent all moneys coming into his
hands as salary and Is bonded in $4,000 The other
expenses are but the examining physlcan's ices and
incldsntals Members pay initiation fee OF S. aud
the same amount first assessment. The amount
in bauk less Ave per cent goes pay the FIRST death
loss. payment In any 10 amount 70 over
$4,000 Alter each death further assessment Of 10
Is made 10 pay the next death loss. 10 prevent
a. cumuation OF large fund, when the amount the
treasury excees BY $4,000 the amount qard 10 pay
the death loss case, The Executv" COMMITTEES IS
required 70 order the amount suncent Tor the next
death loss, To- DO PAID IRON thie IN lieu oil the Usual
Assessment wbich would De MADE. An Important lea
ture Is that money be drawn from III. especial
assess nent fund" uness upon check Of The treasurer
o. Tue ASSOCIATION counters gned by the president aud
payable when tho baLx deposit shall received
an oic 81 communication sigaed oy three members OF
the Executive Committee sta ing the amount 10 be
crawn aud The Of tue person 70 whom they have
authorized pa, m .Bt. Great taken those
asked TO JON The and only those supposed
to % yool health Of 1000 moral character, and
between twenty and lorty years OF aye soced
or eligible.
The ASSOCIATION was incorporated May and bust
are some three iour hundred mrmbsra After
death the members allowed thirty Jays pay up
tho required amount and I'm case OF absence or in-
aolity rom sickness other good eau time Is
extended. Applicants for membership mug he Ia
nero mile bus, ness IN New YORK city Or ssaIe.
Tue ASSOCIATION estimate that with thousand risks
~ hey take them the cost per capita esti-
mate uliowlUg Tor i've dehtns per year. would be $50
pr So 900 Of insurance BY IT'S constitution the
make any expenditure not ubso iuteiy needed by the
business vi the assocatlon. ms Execu i've Committee
may, wnen IL sees ill., order an assessment not to
coed 81 upon each member, Tor expenses when
assessmc 8 needed.
1t is proposed that when tho ASSOCIATION shall num-
Der 100 mrnbsrs tnat tbcy shall diviued class
A. and new CLASS be comne nced SO tnat, as Tue
ISOLATION eut rses, mamoor, oy j0iDg Two or three
ciasses could Increase his insurance principal to
CLHn orrlin; Fret Vice President, Thomas H. Aivord;
secretary and riea urer, Russell HoyL The oonds.
men Of the at er gentleman, VINO - with 5. Jaray
* Co., Ec ware 5. Jahray, o. f 5. Junray l. co.,
md J0pn H. Re d, Of Bates, Reed Il Cooley. Exam
ming Physician, Edwin i. Ward