Morning journal and courier., 1885-01-10
ANNUAL MEETING.


 al Benefit association of New Haven was held last evening in the Blue lodge room in the Masonic Temple. There good at l tendance of the members. President Quin- | tard presided. Features of the annual re- port of the secretary, MT. Frederick Wal dron, are as follows: The report, which is the eleventh annual report, says the past year has been one of prosperity to the asso citation both in point of membership an6 finances. The cost per $1 ,000 of insurance was only $11, which takes in the running ex deaths, five of which, amounting in the az gregate to SIC, 900, have been paid from the accumulations, leaving g to be assessed The report continues:
 ''In addition to the amount paid from tht | accumulations, over $6, ,000 have been added l to the contingent fund, thereby making oul association stronger in the eyes of business 1 men, with a deeper sense Of security to it: l members. During the past year fears have been entertained that the dreaded disease | cholera, might find foothold in this coun | try If such were the case the necessity of : | reserve fund to draw from would be mos | apparent.
 ''The old adage, In time of peace prepare l for war; may be applied to our association l in the following: In the time of prosperity | prepare for diversity.
 ''The value of contingent fund has not ye been made apparent to the members of this ! association from the fact that we have beer very fortunate in our mortalities; our deatE 1 rate has not been heavy and we have met | with 10 great number of losses at any one | time. Some associations have seen the neces 1 sity of fund in reserve, and in one instance l had it not been for 8 reserve fund the asso- | oio of; hau ta J1I l its business. With an accommodating fund | there cannot but be feeling of security among | the members, all of whom have an interest l in such fund.
 l 'sWe have paid from the accumulations I since our organization $50, 900. The largest amount paid by any member of the associa- l tion from the date of our organization to the 1 present. time has been $170.75, or 8 yearly 1 average of S16.43 for an annual insurance ot 1 s2, GOO Had the members been assessed for l the above named $60, 900 (and that amount ] converted into our reserve fund.-, the mem bers would then have had very cheap in l surance and our association betts- oreDared 1 to meet any epidemic witch at any time is l likely to befall nc
 Ipoae who have died or who shall die in ! early years of the association receive the benefit of the amounts paid from these ac- l cumulations; whereas had they paid on all deaths they would then have had a very large ! 'The board of directors seeing the necessity I of providing for large excess of deaths by 1 increasing our contingent fund recommended at the last annual meeting that five per cent. l of all moneys received for assessments on ac- 1 count of death claims be placed to the credit l of the contingent fund, which tecommenda- | ton was unanimously adopted by the associ- l ation.
 s'This action was timely, and has been the means of greatly augnenting this fund dur ing the past year.
 | gents S5, 3S2, GOO in insurance, and a mo- l ment's thought must convince the members ! that some guarantee is necessary that each l of their benefciaries will receive the amount | due. We are individually growing older each year (although the average age of the association as a whole has but slightly ! only way to meet this advance in age is by l money in hand.
 "Increased age, as well as being prepared I for an epidemic, must be counterbalsneed by dollars and cents"
 The report notes that the association has 1 never paid one penny for agents or commis- sions, nor have they ever considered it necessary to do so The membership all forward the best interests of the association l by their influence and efforts, and add still more to the membership by little ex- ertion. ''So long as the association shows a
 
 l lapses, 80 long will it be prosperous, limit ed benefit with an unlimited membership l being the association's policy. 'Some of our members have 8 mistaken idea that as our membership increases our death rate and expenses must increase, while the reverse IS true; the larger the member ship, the deaths become more eGuallzed; the percentage of deaths is no greater for 10, 900 men than it is for ,O00 men, and the cost of running expenses is reduced per capita as mem mbership increases.
 ''Take, for instance, the Knights of Honor, the largest association in this country, num- bering 130, 900 members, paying at the death of it's members g, 900 insurance to their bene- ficiaries. The cost for each member during the past year has been no greater than in our association with membership of 2,800.
 "While our association stands among those marked A No. 1, it has for the past eleven years, the members must not be insensible of the fact that on them individually rests the responsibility of keeping it so.
 'Urge your friends to send their names forward for membership. Show them the necessity of providing for their families while they may. Men of limited means can carry a certificate in this association, as the assess inents are paid in small amounts and they are distributed through the entire year. A dollar now and then paid into our fund will be returned to those dependent upon you at time when most needed, as has been de- monstrated time and time again by our and kindred associations.
 During the year the $10, ,OO0 ill per cent. government bonds were sold; the amount realized from the sale was S12, ,037.50. "There were purchased $10,000 in 4 per cent. N Y. and N. H. first mortgage bonds, being equally as secure as the governments, bearing the same interest The amount paid est, $10, 745. 34. The gain by this transfer to the association was $1 ,292.16 which amount | has been placed to the credit of OUT contin- | gent fund. "Up to the close of this year there have been | 19S death claims paid, amounting in the az 1 gregate to $3S6, TOT and distributed among | 567 persons One hundred and sixty eight | assessments have been laid, being at 8 rate | of 85 cents per death. Those who have | lapsed out or dropped from the rolls have | paid into the funds of the association S12, 1 695.95. The amount received for interest | and dividends since our organization has | been $5, ,65095.
 'fThe average age of those who have died | and been dropped from the rolls during the | year is forty-four years and the average age ] of the new members is thirty-seVen years and | three months"
 Number as per last report. .s667
 a,7a8 Less number restored..... .............-24
 20 Died ............................ ..% AZ
 2691 |
 FINANCIAL STATEMENTS
 Receipts. Received from new membership fees ..-.-S 1150O 0OO
 '' Assessments, 5S, 19S. %
 Reinstatements. ....... S2.00 l
 '' Interest. .........-..... 910O0
 Transfer of Bonds i 292. .16 Cash on hand, per last Report, Contin- Cash on hand, as per last Report, Assess - |
 Total ...........................$ $66, ,16S 70 ] The reports of the finance committee, Messrs Don. S.. Thompson, John Ruff and Ward Nichols, and of the treasurer, MT. John P Futile, were also submitted and ap- proved.
 Are Police Officers SaIarieda
 The question has been raised at the police ,fice whether officers and men on the force vho receive per diem instead of stipulat- d salary can be chased as officers whose diaries are fixed at stated sum per year. When police officers from captain down to