The Sunday herald and weekly national intelligencer., 1891-02-22
Washington Beneficial Endowment
Association

Washington Beneficial Endowment
Association.
There are two kinds of insurance insurance
that insures and insurance that does not. There
are two kinds of corporations that insure-those
that pay high salaries and low losses and those
that pay moderate salaries and the full amount
of their losses. The former exists for the benefit
of the stockholder as against the policy-holder,
the latter for the benefit of the certifcateholder
who is his own stockholder. The latter is not
necessarily more anxious for his family to realize
on his certificate, but there is substantial salts
faction in knowing that thigh-salariedo officers
not earning their money by obstructing the
prompt settlement of claims in such an event.
Assessment insurance honestly and conserva-
lively managed presents the maximum of Sc
curity at the minimum of cost. We present the
Washington Beneficial Endowment Association
as corporation of this character. This claim
is justified by its history. Facts and figures
talk See what they say for this concern. 1t
isn't new 1t is one of the Oldest assessment
companies now doing business.
Planned in 1878, incorporated in 1877, the
Washington Beneficial Endowment Association
opened its doors for business in the latter year.
The doors weren't very wide. Wide doors and
large offices weren't necessary to accommodate
the business. Rooms on the second floor of
921 Pennsylvania avenue were sufficient But
not for long. Little was known about assess
ment insurance at the time. Critics of the
company said it was an experiment that time
would obliterate. 1t hasn't If it was an ex-
pertinent the experiment has proved a success.
Three years. business was all the second floor
of 921 Pennsylvania avenue could stand. The
company had outgrown it. More room was
necessary. To obtain this it had to move. The
infant concern was past the creeping age. 1t
was ready to try the experiment of walking.
When it was decided to make move the same
good judgment that has guided the whole
course of the company was displayed. A lot on
street adjoining the Masonic Temple was pur-
chased and building erected upon it. Seven
years later the Columbia National Bank wanted
the property and were willing to pay for it
The company was willing that they should have
it, and sold it, They purchased lot on Tenth
street and erected the building they now occupy.
We present a cut of it with this article. 1t is a
handsome structure and the offices are models
of convenience The experiment" had demon
strated its success. The critics were willing to
acknowledged. AS nothing succeeds like sue
cess" so the volume of business has continued
to multiply. The substantial character of the
company has been recognized. Seven hundred
thousand dollars is a considerable amount of
money to be paid in losses by any company in
thirteen years. That is the record of the Wash
ington Beneficial Endowment Association.
Here is the rest of the story:
Fourteenth Annual Statement Of the Financial
Condition of the Washington Beneficial EndOlU-
ment Association, December 81, 1890.
Capital stock Cpaid upl............-.. $4,000 90
ASSETS.
Cash on hand ACKNOWLEDGEMENTS. Sl05l4 AZ