The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1882-09-27
Mutual Fire Insurance.
sTEaIDIAx. Miss, Sent. q. 1885.

MERIDIAN. MISS, Sept. q, 1892
The Comet uf the 16 h, contains the fol-
loHing very remarkable article on fire in-
suranee:
How much NOR ee does the city of Jackson
pay 10 he o d FIRE Insurance Eompan Il
Will al0unt We towards Sl5.UO0 .InuaIls.
Hw md N aefuat Toss does tb'. cifv u
suffer bv FIRE asnnally? Al lenst so tnnual
" vii cover all her I0sxes. L. This the case
with Insurance againsr fire gen rai,y It Is
Statistics and exteTieHee snow that au
tvelage the word over. only one 10 three
losses y fire occur ia fte thnH,and risks
This is'a acI well esrahlishei ~ experience,
aid The business community of our State pays
.iut millions OF dollars for Insurance. that IS
al rPas on,tbie and HHbea rab e.
The muEual plan OF FIRE insurance Is
bas, i on aeiual risk. lt is cheaper in
an association for mutual PR tsction. be-
cause the losses are psid from the as
sess mpEt fund, ana thus ihe members are
protected az he peice oi actual iisk, which
would be ~ . 0, Ia the mu- mai pla1, agaii It
s5000l paid o tie old comp mes annually.
-tbe staie of Mississippi pays Gus annually
n arly = million dollars that tue mdiaal flan
-of fire insurance wonll fave 10 her people.
Because a l.irce OF paper has the w0rsis, Lon
ION, Liverpool aud Globe" on IL / = no frr son
'ihat Il dollar Of iis money IS worth any more
than q dollar OF UHi e : ates money. la the
plan of the lee MH ual Fire Insurance A>so-
ctatioh, lIems Qiiiee. Tdplu Mississ ppi, the
tss essment IS Inkrn in advance, which M kes
the money ready t'meet losses. II i cheap,
sac and permaHe8i, and on ths plan OF the
K lights OF Honor L. is The de-IgH OF The
Direct ors n make il ~ cheapest in tie world,
and ms E: A. the safest.
Mai +. d. Cont the PrGsld mt Of the Ex-
change Bank at Tup,l,, N s-iss Ppi, is at lhc
Il ad Of The Assaoiati n, which is - gffa arnntt C
{ good faith aud the treasurer IS - honded
man fnp lhgent business men will consult
their own interests by fu ly Inv :Stig eating tie
plan Of fFe insnTance em The innfust plan in
This rs ociatiUn LIS asses, ments are just, aud
its guaran 'ees equitable.
My experience Of ten years in fire insn-
rance, aud all statistics to which | have had
access, nre 80 at variance with the CoInet's
statement, that beg space for brief reply.
The stock companies do not receive "a
million dollars annually, nor halt that
amount in fire premiums in Mississippi.
Losses in this State during the first hall OF
lkS2 amounted to nearly 5000, COO. One
eompany paid over $4,000 Au assess
ment uf 81, 800 would not have paid six
months interest on these losses. What
would be the condition of thee suffTers
had they depended for payment on voluu |
tarr contributions from members Of Il 'B.-
evo ent Institution" which they were in
1uce to join under the belief that
my 'une to three loses by fr'
. ur in five thousand risks.' Az |
NJ w ii. Powers, aud three Others Who
we're burned out in @ d>den, Alabama, tn
.e I7lh of June. Tln Y lltld policies ia
he Nashville lnu,!."ldeI's Mutual, Tor
"A, $40. They have bten ssseSsed IhIee
lnlrs since The fire but their losses were
rot included in any of the aS>essInent>.
They are trulniS'd that theirs shall come
Itxi. saw Mr. Powers at Ga lsden on the
h inst, ard bad this information from hI-
,wn lip. II this company, barely two
months old, j. four muiiths behind, how
,ut The qu. stlum is unnecessary. Mr.. z.
las Injured his property in Il stock cuinpan!
nd advi-es his nrighbIrS To do The 1ame
hing The fire test is The only reliable
ne fur FIRE company. Srvrral companies
nst on their MI,sI,sirpi business last year.
nd only iva made money III 1879. The
EranklIn, the Manhattan, The British
America AID other good cumpanits have
withdrawn from the Sale, because the busi.
l@ss WAS unpTufitable.
Conpthirs have been profitable in Jack
on. but iustead of the aggr. .tte l'ls-es, nh
xceeding $500 annually. have paid AN
verage of over $500 II year for the Phenix ui
,i;te that have not had Ioes in ten wears,
nd still the rates are higher than in jack
on. ior want uf a FIRE department.. A
own liable Ia destruction by one fire musl
ay for the risk. Il ties cannot be fixed by the
,sses Of any one year or in any one locality,
nv more than bv the losses 0f one lndlviG-
AL II 20, what would become of Terry,
'rystai Spring., Meridian, Starkyille, Ma
pn aud other places that might be mention
d? The experience of Maj. Gnar rs 10
nj agent for Il stock company mi 1ht be ben
ficlal 10 the Comet writer Ia fixing rates
ly impression il that The company l0>i
bout three hundred per cent. un pnlicies
sued by him. This is not intended rs n
.Aection ON Maj. Goar or on his business /
opacity My Company is behind on poll {
!, issued by me. | endorse every word oi
he above artirle in Maj Goar's favnF. /
Vhena fire occurs, he will pass round the
1T and faithfully account for every cent
irown in, but he is too shrewd to guaran-
.e to any policy holder the payment of HE 5,
lss
A fair rate.to charge forinsurance IS snch {
lat The premiums viii pay all losses and !
gitimate expenses aud leave 4 reasonable 1
argin Tor the nix incurred. The thing
lat is naw pnzztIng insurance men, IS how q
, do this. Some companies make money, {
hers lose and some tail. The aveGig'
rufit is not tnticing the milliuns of idl,
lpital To try the business have written l
us in behalf of the Flre Insurance Frater-
Iiy. With uur other sins, we do not wish {
be looked ON as highway robbers.
49, II. II. STREET.