St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-05-01
The IRON HALL.
Mr. Harger's Exposure Just
What the Iron Hall De-
SireS.
$700,000,000 Locked Up in
the Golfers Of Level Pre-
MUM Companies.

Mr.. Harger's advertisement announc-
ing that he IS prepared to expose the
frauds of the Iron Hall and other fra
ternal endowment orders is welcome
sign of the times. The more the public
are called upon to examine the science
of insurance the more they will be con-
WINGED that the old line insurance conf
panies are rapidly decaying and giving
place to assessment insurance and. fra
ternal organizations. In a comparatively
short space Of time cd liners will be
things of the past. 1t stands to reason
that in this progressive age. when all
science connected with human progress
is advancing in such remarkable de-
gree, that the science of insurance must
keep pace with the times. Old ideas
must give place te~the new, and assess
ment insurance aud fraternal organiZa-
tions must take the place of the old
line insurance ;monopolies and bond
companies. THERE'S this simplereason
for it, the public are on to the old Ii he
methods. Look at few figures:
Statistics show that thirty level pre-
MUM companies have assets represent
ing S7O0, 100000. Think of it! Seven
hundred millions of dollars taken from
the policy holders over and above all
that is necessary to pay death claims,
endowment. SurrenderS, annuitieS and
expenses of all kinds. These compa-
MES have an annual income of It's million
dollars; less than fifty million are paid
for losses. These are few figures for
Mr.. Uarger and his policy holders to
think over. If it is not fraud on the
public for old liners to play the leech it
looks very much like it.
On the other hand, am free to admit
that wrong-daing has been rampant
among sO-called fraternal endowment
orders. But every order must stand on
its own bottom, as it were, and every
member should demand the fullest in
vestigatiOn. The Iron Hall has always
been willing to have its plans and opera
tiOnS put to thefullest test, and they have
been. Time and again it has been the
object of unjust and unfair attacks by
often has it been triumphant. Three
years ago 1t was put TO the Severest trial
in the highest courts of this state, and
the result of that litigation is fresh in
the memory OF many. 1t has been
weighed in the balance and not found
wanting.
The order was founded in 1881, was
the pioneer association in the field of
fraternal benefits, and has had eleven
years. successful experience. Numbers
of mushroom companies initiating some
of its features sprang into existence,
only to wither and die from bad man
agement and from miScalculatiOn of the
law of average.
f. D. Somerby. supreme justice of
our order, was first to raise a voice of
warning against these shOrt-term orders
which came to tine front. making prom
unfair to hold the Iron Hall responsible
for the sins and frauds of the sham imi
tators which have disgraced fraternal
principles.
The plan of our order is simple, there
is nothing speculative, delusive or I'M
certain about it. The plan is simple,
but the promise and the performance
great. The plan is this: 1t costs per
annum 81 dues, and about twenty as
sessments OF g. so each, and the prom
Use, S25 week in case of sickness or
accident. $500 in case of total disability,
$500 in case of death and $1,000 in cash
QeSS disability benefits DRAWN after
mem bership of seven years.
We have existed over eleven years,
we have redeemed every pledge, we
have SUlVcu I1c pIOUlClu VI piOtOCLtOu
for the poor man. What we promise is
Harger. or any other actuary, to prove
the contrary, and defy him to point to
single badge of fraud or anything saw
Oring of fraud in or about our OrganiZa-
ton. For this my word need not he taken.
There is the record of the testimony
before the Insurance committee of the
Massachusetts legislature. Gentlemen
of high standing all over the country
gave their evidence touching the work.
ing of the order. They testified that
the Iron Hall as a fraternal Organi1a-
ton, in care of the sick, in brotherly
acts of kindness and in magnitude Of
work amongst its members, equaled that
of the splendid fraternity of the Masons
and Odd Fellows. And what was the
verdict of the tribunal? The Legislature
wealth of Massachusetts, an association
which is doing an honest and faithful
work" L will add few figures to show
the position of the order.
This year there are 2. 493 certificates to
mature, calling for 81, SAG, TBS. There will
be paid olt in sick benefits-this is an
estimate, but is according to the usual
average-$600,0 900. Now, that will call
for 81. $40, 1926. What has the order to
meet it with? There is on hand in the
benefit fund 81, 005, 355. and one-seyenth
of the reserve, with accumulations,
s2S2, AL. By the rules of the order we
are entitled to take out seventh of the
reserve fund to apply. We are entitled !
to assess the members, and, reckoning
the ASSESSMENTS, these will yield. ac-
cording to the membership at the pres
ent time. s2,4S4, 1896, so that we will
have to meet the liabilities, S3.767. 692.