Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1891-03-26

organizations were forced out Of business
in this State, that these parties were thea
ard are now doing legitimate business
and that be ssw no reason Why Asse ssmeni
organizations should be aliovei 70 do 4
ssrsighs life business and at the same time
conans the endowment business wholly 70
| the old line life Insurance companies. He
stated that the average member paid out
$3.50 to ges his $1,000. that the lapses ranged
from 50 TO 7a and in straight life compsnies
~ high - so per cent. In the Iron
Hall they are figured at 4S per cent.
That the basis vas that the life Of the aver
lage man insured is 2s years and at $40 8
year it costs the beneficiary $3.50 70 get
$1,000. SIS ii not fair proposition to xsk
If he cannot get the same amount Of return
il he pays S3i5? There i. no lottery about
liz. Is is figured from the lspses and NOR.
tality tables Of this and other countries, in
dollars and cents. 1t is = good. straight,
honest life insurance business. When the
CID line companies attempt to shut out the
endowmeps business. I argue that you might
jus; Is well place straight life insurance
company on the same bAsis as . lottery. I
move to amend by striking out ia section l
/ s.l pesEEeo the words Certificates" in the
7th line ard .'1ss9" in the 9th line. The
obi &c. Of the amendment will state. The
bill as reported simply removes the ,estric-
tions from certain organizations doing busi-
ns.s in 1885 in this S.s.a. Since the repsa!
of this chapter 373 Of the Public Laws of
1885 similar org sniz Aiions to the Iron Hall
have come into the State. should vote
to exempt the Iron Hall alone, bu. I do not
believe il 10 be the policy Of the State to
legislste for one particular organization,
ana not for the whole. offer the amend.
| lnent in order that such as are doing q
legitimate business may continue t. do it,"
M. Libby of Androscogein, read from
the report of the commissioner of insurance
for Massachusetts for 1888, discussing the
character of the promises OF the Iron Hall.
asserting it TO be impossible to carry ou,
these promises) and stated that in the face
of this compilation he could NOT vote for
the bill, but should favor its indefinite
postponeMent.
Mr.. Stewart Of York stated further that
the Iron Hall 10 doing business in Marss-
chrsetts; that the old line companies had
been doing business for centuries; that this
institution issued in 1890 ard 1891 10, 1926
certificates with liability Of SIS $50, 900 and
paid S9S fiasl claims to 7-year member
ships 1862 ,6s2 so. and total Of 81, ,057, ,703
last year, and have = surplus on hand and
invested of million and half of dollars.
Absolute figures chow that they have
done it and eau continue to do it.
In relation to wha. the Senator says in
regsr5 10 the Laws Of the order. does not he
know and does not every gent,eman in this
body know that when question is brought
to the courts by any organization in the
State having constitution aud bylaws,
that as long a. that constitution and by
laws are not in direct contrsven,ion of the
constitution and laws Of the states, ths laws
hold them t, be the laws Of the states.
| Mr.. Grin lle-ls it not the fact that it is
the law of the land. so far as it applies to
the members OF rs own organization?
Mr. Stewsrt-Certaiuly.
| Mr.. Grindle-rhis bill provides this,
They may operate according to their
Constitution ard by.lays. but they
are moi held accountable t, the
laws of the State, any further ,hsn
80 far s. the laws Of the State conform to
the provisions of their constitution and by
law.
| Further, the only possible way in which
thev can pay this 81 900, which they pro.
mice il on the assumption that 20 large per-
centsge, perhaps 50 per cent, are going to
drop ont
Ne Spea, Of Kennebec-I wish to ssy q
word upon tho ground Of what ! believe to
be fsir play in This matter. In 1885 the
old line companies attempted to throttle ali
the beneficiary institutions and asso-
cistions doing business in Maine. their
evident occ i4ion being thai these new com
panies were making CREST inrosds upon the
business Of the old lice cowpsnies. had
| nh IS tba Hill To- ba nI,
to relieve .hese beneficiary societies from
the restraints which the old line companies
were attempting TO make; it was only
through strenuous efforts all that time that
We were able to get report favorable t,
these companies from the insurance COM
mittce and thereby to relieve them. Ex-
| sctly the same arguments were used in
1885 SO iinst the Ancient 0 ,der, knights of
| Honor and other societies as are used here
todsy--thst it was an utter impossbilitv
for these societies to pay the amounts which
they agreed to ray and continue to d.
business. We succeeded. In 1889. some of
the same societies which had obtained re-
! lief in 1885 came here and in some clan-
destige manner got repeal Of this law,
either through the insurance commissioner
or some other party Interested. The fact
Is there were soms attractive features con
nec,ea With the Icon Hsll which the other
societies did not offer. I have no doubt
thst the reason which uDdsrlaid the iegisls-
ton Of 1889 was that this eocisty was paw
ing monty on the installment plan. hold
| in my hand sn assessment card Of the An
| cient Order Grand Lodge assessment l03
and A. On that card are the names Of 10
men who have died who are entitled
Ito 81 900 each srd who wil. get
every dollsr OF it. These 10 men have psid
Sl039. Now. under thu principle invoked
here sgsi1st tire Icon Hall. this order cbuld
not coGtinue to DO business at all. In the
Aucisnt Order there are 25i ,0CO members.
t, pay them would take $3.50, 1000, coo Il
could not be done, il these men were struck
, ou: OF existence. Yet these societies hsvs
lived Tor years. The argument of "specu.
| ia.ion' Is no argument against H.
Mr.. WALTON tf Sorlerset-Is seems to me
.he rns jo,iy report should be accepted and
the bill. passed The senator from Andros
cagsin says it is special legislation. beg
his psrdor-lt is to repeal the special ieeis-
lation of Two yesrs ago occurring durirg
the closing hours Of the session when no
one kneE ythi1g sbou. it.
On motion By Mr.. Stewart Of York. thu
yeas and nays were ordered upon the ques.
tion Of the adoption Of the smendm me n.
off .rrtd by that senstor. The question
beicg pa., resulted: Yeas. Messr.. Hunt,
Mayo, Mehan, Rogers, Sherman, Stewart,
Wadlin and Wilbur - s; nays, Messrs.
Adams, Chspip, Giles, G-indle Hsrpe-.
l. bbY. (Audroscogsin) Moore. Nash. Nut
ting, Pettengill, Poor. Powers, Ryder,
Thstcher, Walton, and Warren -l6.
50 the motion was lost. Mr.. Rogers of
Washington moved further to amend. The
motion being put was lost.
Mr.. Grindls of Hancock moved that the
yeas and nays be ordered upon the question
upon the motion By the senator from Ok
ford TO inde fniteiy POSTPONE. The yeas
and nays were ordered, The question be-
irg put. resulted, yeas, Nessrs Chspin,
Gle G;iEde, Libby (Androscogain)
mayo, Nash, Nutsng. Pettengll, Powers,
I-9, rays, Msssts Adams, Gilmore. Hsr-
rer, Huut. Mshan, Moore, Poor. Rogers,
RYDER, Sherman, Spear. Stewart. Thatcher
Wsdlir, Walton, Warrsn ard WIlorr,-i7,
So The motion 10 indedeissly postpone was
lot.
Or motion by Mr.. Ryder Of Psnobse1! j!
to be eugrossed.
Ol motion by Mr.. Griadle of Hancock
IAN ae. to pro7iie for the registration OF
vital statistics" was taken from ths table,
and assigned for t3moTrer.
On motion of &r. Ryder of Penobsc y
resolve asking tAat the fibfarisn furnish
certain books frcm the library to ihe tosr
o. R,ckpors was taken from the table, ami