Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-04-26


tated by the large companies IN their inter
est instead OF the peoples making then
very expensive TO comply with. all of which
| of course comes out of the pockets of
THE DEAR PEOPLE
In closing this paper so far as fire in
Surance is concerned, l will quote from the
thirty-sixth annual statement of the
the District of Columbia fol
the year 1890 to show the relative
cost of a mutual such as proposed vs.. the
old line insurance This company reaches
very nearly TO the economy of government
insurance. Il has the unique distinction OF
being chartered by congress (the only fire
company so far as | know ever so formed
is confined to the district. inSures no one
except actual freeholders. j. G., the build
ing and land must belong TO applicant. but
all classes of farm. city and bust
ness property, including stock of goods and
furniture, are insured. Policies are like life
policies perpetual subject only TO eau
collation. for noncompliance with bylaws
or at option of policy holder or company
for cause or at sale. The applicant gives
an assessable demand note for 10 per cent
of insurance he wishes, for instance if he
wishes $1,000 insurance the note will be for
800, and remains in the company's hands
until paid or surrendered by virtue of can
collation. OF policy. The company levies
each year a sufficient rate of interest
on the notes TO pay losses and eX-
penses, starting in 1855 when the
company was Incorporated at per cent,
payable January l. and finding that more
than was needed, they dropped TO ), then TO
4, g. 2, and finally for many years they have
only charged per cent, or 81 per year on
each $1,000 OF insurance, and yet so success
full and economical have they been, that
now, at the end of thirty-six years, with
never an assessment on the notes, they find
themselves square with the world. and
with S2S1 600 in cash and bonds on handl
which belong to the policy holders, who are
entitled to withdraw their pro rata share of
the surplus when they
RETIRE FROM THE COMPANY.
And it is u peculiar fact that, despite the
low rate charged. a man who insured $1,000
in 1855 and has kept insured ever since
could now withdraw almost or quite as
much money as ne ever paid in. BY act Oh
congress the insurance assessment is tlS
lien on the building, and it can be col
lected precisely as taxes are, so
that every policy-holder has the Sc
curity of the entire 63l0 properties
represented in its Sl2.S09,0 900 of insurance.
l visited the Office and found two Secre-
tarieS (the only salaried officers except sur
veyor) doing all the work. employ no Solic-
itors, run their business like store, said,
I'VE have good thing for sale and if any
one wants it we are here to wait on them"
Make them county officers and YOU
have government insurance.
Here is their statement, compare it
with the stock companies, any of them:
Whole amount of insurance in force, Sl2.-
S09.45g; amount of premium note on hand,
s., 126 1874 number policies in force S6312 ire
ceipts interest on premium notes net, 81
az, 105, other sources, rents, interest, etc,
ST, 36S. 62-S39. 1896; losses for the year,
$40, 1I.6 IS "a full average the secretary in
forms me) Withdrawals and settlements,
sl2 1926; taxes insurance and repairs,
Sl554.35; expenses Ofannual meeting $t9.92:
total salaries. printing and adjusting, col
lecting, fuel, lights, ETC., SS066 80; bonds
and real estate on hand, S2S1,002.2i.
LIFE INSURANCE.
/ would like to ask your attention a few
to the subject of life insurance.
Shall try not to worry you, although it
surely is of sufficient Importance to merit
your most careful examination. The nee
essity and visibility of life insurance has
passed the speculative stage and is now
as one OF the provident and
mans duties. The only ques-
ton before us to-day is how shall we insure
where it will be safe and economical l.
will not occupy your time with any furtheIss
examination of the old line Insurance.
Enough has been given to show
that they are unnecessarily and eXtravaa
gantly expensive which would be reasonS
enough for letting them alone without the
further fact that they are rapidly and
surely growing into dangerous and I'M
wieldy corporations, menace to leglSla-
ton and our free institutions. What can
be said for system which permits three
less than fifty years of age, and
with but 100000 capital to accumulate in
forty years 1874. 600, 900, an average of So
no. 900 year. or s., 600, 600 year per com
Dany But if that is alarming what can you
say of the next four years having the i'm
Detus, capital and experience, they climb
he golden stairs with steps S3i.500, 600
ong each year, S13S, 000000 increase in
,our years in the assets of the three cor
oorations, 81 100000 a year for each of
hem, the next four years they will almost
necessarily increase to $50, 200, 900 each per
lnnum. and in ten years their revenue will
'iyal the government. Think OF 1t, cor
,oration that has no soul perpetuates itself,
lever dies, has no conscience, growing I'M
Ter our very noses and with our aid and as
iStance into an
ovERSHADowISG POWER.
But laying aside all controversy as to the |
,ropriety and wisdom of patronizing them, |
heir excessive cost precludeS ] possibility |
f such a thing so far as the bulk of our |
rider and kindred organizations are con- |!
erned. We must either find something |
esS expensive or do without life insurance |
he average cost of insurance in old line |
ompanies for man forty years of age, |
bout the average that people insure, is S35 |
er $1,000. in q well conducted mutual about |
u l refer now to what are known as So |
iety mutuals, viz: The Ancient Order of |
Tnited Workmen, Knights of Honor, Ma |
onic, Odd Fellows, ETC., where the object |
purely fraternal and benevolent. There
re a large number of successful society as
ociations, religious, social and industrial, |
nd where carefully and honestly conducted |
rove blessing to their patrons.
The Ancient Order of United Workmen
eport membership February l, 1891 of |
81, 475 in good standing and growing |
teadily, they have paid since their organi-
alton S:3,5l6,00O at an annual cost
f not to exceed s12 per thousand.
he knights of Honor have grown
Ito strong association and give
S members the maximum of security
the minimum cost and what Mason or
i'd Fellow is there whose life is insurable
Tho does not carry policy of two or five
lousand with some one of their society COM
anies. 1t not only gives them their own
at cost, put it makes them more
and considerate of the needs of
leir brethren, their widows and orphans.
1t has seemed to me that the farmers
eeded a provision of this kind, particu-
rly where they are in debt and have
imily dependent upon them, and with our
immense membership there is no reason why
e could not speedily build up the largest and
rongest society in the world. Two yea2ol
70 the Dakota Alliance instructed a se6Ml-
ittee to prepare plan for the use$f the
der and if pOSSiDlp one that c06ld he |