The Sunday herald and weekly national intelligencer., 1891-03-29
A NOTABLE SUCCESS.
HISTORY OF THE WASHINGTON BEN
EFICIAL ENDOWMENT ASSOCIATION
What Careful But Enterprising Manage
ment Has Done for a Local Assessment
Insurance Company--The Growth of
the Institution.

1t is now thirteen years since the Washing
ton Beneficial Endowment Association, of No.
419 Tenth street northwest, was organized.
AS the years have passed the association has
grown until it is to-day one of the most pros
porous assessment companies in existence.
The first plans, on which the association was
built, were prepared in 1915, but not until 1877
were they placed in operation. In that year a
charter was secured and the association was
organized with the following officers and di-
rectors: DR.. r. B. Donaldson, President;
Robert Ball, Vice President; Noble d. Larner,
Treasurer; Alex. Gardner, Secretary; Law
renee Gardner, Assistant Secretary, and Isaac
L. johnson, Attorney Trustees: Thomas j.
Luttrell, William II. Goods, George B, Clark,
and Charles z. Prentiss.
The changes that have taken place on the
board have been few-one by resignation and
two by death In 1879 Charles E. Prentiss re-
signed and Mr. Thomas Somerville was elected
in his place. In December, 1882, Mr.. Alex.
Gardner, the founder and secretary, died, and
his place as a director was filed by the election
of Mr.. C. c. Duncanson, and the assistant sec
father. In 1883 Mr. George B. Clark died and
Mr.. William J. Stephenson was elected a
director in his place. In 1887 DR.. r. B. Don
aldson, after serving ten years as president, re-
signed that position on account of private
business, ard Mr. Noble D. Larner was elected
president and Mr.. w. J. Stephenson treasurer
Mr.. Frank S. Parks, who had been in the en-
ploy of the association since 1880, was made
assistant secretary.
At the time they started but little was
known about assessment insurance, and many
supposed, and boldly stated, that the venture
was an experiment and would not stand the
test of time; but they can say, what few as
sociations can, that after all these years, so
firmly was the foundation laid, that there has
never been necessity of making any material
change in their plan. The only change that
has been made was reducing the insurance age
from fifty-nine years to forty nine years, which
has worked great good to the association by
keeping down the age
Their first Office was in rented rooms on the
second floor of No. 921 Pennsylvania avenue.
Their business in the first three years increased
so rapidly that the trustees soon realized the
fact that they must have more Office room. and
concluded to own their own building. They
on + street, and erected building suitable for
their purpose. AT that time it was looked
upon as a wild venture to move business to
f street, but within six months after they
were located in the new office the great de-
mand for F-street property commenced, which
has continued until now it requires princes
ransom to own lot in that locality. In the
spring of 1887 they sold it to the Columbia
National Bank, who have erected a fine build
ing on the site. In 1886 they purchased lot
on Tenth street and built on it building that
experience had demonstrated was suitable to
their wants and the needs of the association.
The policy Of the association has been emil
nently conservative in all its dealings. First
the trustees are very careful as to medical ex-
aminers and their personal standing in the
community in which they reside. They are
paid by the association and have no interest
but theirs; they receive their fee whether the
insurance is granted or not and are instructed
to give the association the benefit of the doubt
if any exists, in all cases. On each applica-
ton there is a cipher so constructed that it
can only be understood by the physician, who
has key, and the office, so he can with per-
feet safety give the association confidential
report. When the application reaches the
office it is submitted to the medical examiner,
and if satisfactory a certificate of insurance is
granted in any amount desired, from five hun
dred to five thousand dollars. In some com
panies insurance will be granted to any appli-
cant for a limited amount but the Bene-
fetal Endowment Association have always
held that if life is insurable for five hun
dred dollars it should be for any amount the
association can give 1t has also been the
policy of the trustees to find objections, if
possible, while the insured is alive and settle
it then, and not wait until after death and
then cause the innocent beneficiary trouble.
Some very few assessment companies, in or
der to get new business, insure anybody, and
then, after death either refuse to pay or com
promise. The policy with the Endowment has
been to compromise nothing If the claim is
good they pay it, if not they refuse it. In
their years Of business they have had only one
case where trouble has arisen, and in that case
they have been sued for the amount of the in
surance-S5,000. In this case the party ap-
piled for insurance stating that he was born in