Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-08-13

members amounting to $4,000 of insur-
once, which shows a remarkable decrease.
But we have no assurance that the amount
Tor the next six months might not be as
heavy as that of 1893
With all the heavy death rate experienced
We have been able to meet the claims when
due and we are now prepared to meet our
liabilities in full and pay to our certificate
holoers SI,Uoo from the funds of the asso-
citation without making assessments
After full and exhaustive examination
or the conditions that confront u.s. We have
entered into an arrangement with the Com
mercial Alliance Life Insurance Company
or New York to form a union and for them
TO take our certificate holders at a rate
very favorable to them and for a fixed sum
and fixed benefit.
LIST. Our interests will be merged with a
company that has about $2O,Oo0OOO of in
Surance in force
"a. Its assets amount to over $3JO.OO0.
Sd. 100000 is on deposit with the insur-
ance department Of the state of New York
as security to the policy holders I'm the nav
ment of its obligations
fth- Its net reserve for policy holders
amounts to over $200,0OO which Is held by
law as security for the fulfllment of its
eth. 1t provides insurance for a definite
or fixed premium
The success of the Washington Beneficial
endowment Association in its eighteen
years has been wonderful We have maid
TO The beneficiaries the sum of 81, ,O04 s6G &C
representing 59S death claims In uniting
our business with the Commercial Alliance
Lie Insurance Company of New York n
Win the confident belief that IL adds ma
terlally to the strength of our already
thoroughly tested company and il affords
me pleasure to commend Mr.. Z. A Dun
ham, the president, to your confidence.
peg to herewith submit to you the in
closed pohcy of insurance in the Com
niercial Alliance Life Insurance Company
OF New YORK, to take the place of the one
you now hold in the Washington Beneficial
Endowment Association. Please fiji out
and sign the inclosed application and send
the same to this office. together with the
remittance for premium and your old policy
IN the Washington Beneficial Endowment
Association.
The office of the company will remain in
the same place. Mr.. Parks and the other
clerks In the office will remain in charge
II there Is anything about this matter
that is not thoroughly and distinctly un-
derstood. will be glad to have you call and
have II fully explained
In taking this step, personally there are
many regrets at severing the very. very
pleasant relationship that has existed be-
tween the certificate holders and myself
ior SO many years. AMI / desire to take
thls opportunity to return my thanks.
wishing you all many years before your
family will be called on to accept benefits
from the company, 1 remain.
Using Warm Language.
Ihere was very general impression
among the certificate holders gath
cred about the office today that they
mad been wronged, and that they had some
legal claim against the Endowment Asso-
cation The language used In many cases
was OF a very warm character and one or
Two went SO far as to threaten criminal ac-
ton against the officers of the association
Inc only favorable thing in the arrange
ment made with the New York company
In the opinion of the certificate holders
was provision that the New York COM
pany should receive them without medical
examir ation.
In the talk today some very bitter things
were sad about the management OF the
association, and II is expected that IL a
meeting is held of certificate holders il viii
mentary limits.
The general purpose of the meeting. as
outlined by its promoters, is to ascertain
what rights the certificate holders have in
the premises. In the first place, they saw
they know nothing whatever of this new
company. to which they are practically
forced &c transfer their insurance but indie
pendent of this consideration, they are not
pleased with the change which brings about
a large increase in the rate OF their insur-
ance Practically, they say. IL is similar to
abe ndoning their old insurance and getting
reinsured In another company One of the
policy holders, who has been with the asso-
ciation from its inception, in talking TODAY
with Star reporter, said that his present
annual premium amounted TO a little over
S2o. If he accepted the proposition and
transferred his policy to this other company
mis- annual payments would be more than
double; in fact, increased to over 500 AL
lowing that he would have ten more years
TO live, he would pay I'm that time in premi-
ums more than his family would realize
from the policy.
In talking with a well-known lawyer who
is policy holder in the association a star
reporter was informed today that he was
not ssushed with the proposed arrange
ment. He said that the policy holders of
;he as 'ociatlon were practically In the same
Fosiuon as II they were seeking a new in
surance. and in addition TO this considera
ton there was the further one that the
company to which 1t is proposed to trans
Ter the policies was unknown to the policy
hoiders OF the association. He said how
ever that he had not had an opportunity
to examine the question as to the rights OF
the policy holders, but he thought that n
would be advisable to have the matter look
ed into In order that the wisest course might
be adopted