The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-12-15
LETTERS TO THE EDITOR.
The Excelsior Murnal Aid Assoclation.

The Excelsior Mutual Aid Association,
To the Editor of the indianapolis Journal:
In your paper of the 10Th inst. is an article
from Rough Notes about death rattle asso-
Citations, among which is the Excelsior, of
Anderson. Rough Notes states that pretty
nearly all the money collected for mortuary
assessments is consumed in paying the COM
missions to the agents and salaries to of
fcers." And you call special attention to
the article, and say the showing is a dis
graceful one to the State and to the men en-
gagged in the disreputable and infamous bust
ness" Between the Journal and Rough
Notes, you make very rough statements.
Now, so far as the Excelsior is concerned, l
deny the truth of your statement and of
Rough Notes. L suppose a paper of the
standing of the Journal aims at fair play;
and as the ciilcers OF the Excelsior claim
to be honorable men, AMI honest in their
insurance business, we shall expect the
Journal to publish our reply. And, first, |
say the Rough Notes cannot find in our re-
port anything showing that 1.-THE mortuary
assessment was any part of it used by the
agents or officers" The statement has not
an atom of truth in it. On the contrary, the
report shows that $3.50 40 was collected for
mortuary purposes, that $7S7. 80 was paid on
death claims and the balance of $16S02 was
in the reserve. Again, Rough Notes makes,
as it supposes, a brilliant point against mu-
tual aids when it says of the Excelsior, tit
reports no assets nor liabilities" Mutual
aids never have them The peculiar excel
lency of mutual aids is to have no assets to
sQuande1 Their organic difference from old
line companies is to have no assets, but leave
the same in the pockets of the members un-
til needed to pay death claims Does not
Nnto hat ba foil of bo
Continental, an old line company, entailed
greater loss on the people than all the mutual
aids in the United States? The law restricted
reports, to the brief period between reor-
organization and June 80 1883, and limited
the business to that done during that time
and cut off any SHOWING OF prior business,
however good Being confined to new bust
ness, it included the annual dues and men,
ship fees amounting to $l3, which is paid
but once and abncrmally increased the ex-
penses for that short time; but it was no
part of the death assessments. Our report
only covered seventv-three days business
and plainly Disseminated between the ex-
penses and death assessments, and Rough
Notes could not make mistake if it was dill
igent and fair about it's statements. As the
report was limited to seventy-three days it
stopped us from showing that we had paid
prior to April IS for deaths and sick benefits
S13, 062 SO. We paid 49, 779 SO for 81 O19 30 paid
to us by the beneticiaries; or on an average
$213.98 for each $24S5 paid us
Is that kind of insurance a
disgrace to the State? Is any business
which returns such profit, a swindle on the
insured? That is specimen of our business
The Excelsior has operated forty-eight
months, with fifty death assessments. Is
that death rattle? We do not intend the
Journal to permit Rough Notes to class us
with death-rattle companies and not hear
from us. There are two sides to this ques-
ton. The old line companies are falling be-
hind the mutual aids in insurance, and they
are alarmed at the outlook. 1t is expected
that Rough Notes will assail mutual aids. In
eighteen years the mutual aids have built
up a larger business than the old line compa-
MES, at about one-third the cost The sys-
tenn has been so assailed by Rough Notes,
and it has put our insurance at six and a
quarter cents on the dollar, and to show how
false its statements are I append bel6w de-
tailed statement of some of our business as
samples. Would be glad to give all but it
would be too long: