The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1883-04-07
THE SUN MUTUAL AID SOCIETY

We have been requested to say that
The Mutual Life Insurance Company"
referred to by our our Warwick cores
pondent in our issue of the Gath ult., is
not The Sun Mutual of Baltimore
city. That society has not been and will
not be sold out to a New York or
any other concern. Our Maryland ex-
changes frequently refer to "The Sun
Mutual Aid Society" in terms indicating
that it has neither "gone under" nor
that it is likly to do so. From the last
issue of the Marlboro Gazette we copy
the following editorial:
To OUR READERS.
The Sun Mutual Aid Society, of Balti-
more city, whose advertisement appears
in our columns, is cooperative associa-
ton, for mutual benefit, in case of per-
manent disability, death, or maturity of
certificates. For some year past specu-
lative life insurance companies have been
numerous and have been so conducted as
to create distrust in the public mind, of
all mutual benefit associations. The most
of the graveyard - life insurance COM
panies, have either failed, or been COM
PEELED by legal authority to surrender
their charters. Honestly conducted So
cieties have, in some cases, found them
selves unable to withstand the pressure
of public prejudice, and have been forced
either to wind up" or transfer their
members to some other association. Old
| Line Life Insurance companies have
waged an nnrelenting warfare against all
cooperative insurance. Notwithstand-
ing these combined adverse Influences,
which have to a greater or less extent af-
| fected all legitimate associations, the Sun
Mutual Aid Society has steadily grown
in numbers and in the favor of tho pub
| lie. 1t has not aimed to grow rapidly,
so much, as to grow healthy and strong,
that it may be permanent institution,
reliable for pecuniary benefits to its
members, their widows and orphans. To
this point it has already attained. Incor-
porated in February, 1880, it has now
entered on its fourth year, and It has is
sued over one thousand certificates in
sums of $625 to $1,000, amounting to
near three millions of dollars. Its losses,
by forfeitures, have not been greater, if
as great, as is usual with life insurance
and mutual aid societies. 1t has had but
eleven death assessments and one disa-
| bility assessment all of which have been
settled except No. II, which is now in
course of collection. During last year the
society paid nearly $4,000 benefits for de-
ceased members who had paid into the
society, for membership fees, dues and
assessments, all told, less than S200
! With such an exhibit as this, this society
cannot be classed with Speculative, y
bogus "humbug," fraudulent
concerns. The plan of its workings is
plain and easily understood. The men,
bers pay an admission fee, and quarterly
dues, for expenses and assessments, as
rated for the benefit of its members who
may become disabled either by accident
or disease, or who may live to mature
their certificates, and draw the amounts
in their lifetime or for their heirs in case
of death. Thus benefits are assured at
the lowest possible cost, and the money
for assessments is called for only as need
ed when losses occur. The value of
certificate is the amount that NAV be re-
allied from an assessment on all its men,
bers, not exceeding the sum named in
the certificate. The members cannot be
assessed more than their specified rates,
but are assessed less for certificates of
less amount than those held by them.
selves. The Sun Mutual Aid Society is
an institution under the direction of we'll
known business men of Baltimore city,