Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-08-04
Commissioners Report on Bay
State Beneficiary Association.
Several Insurance Companies Admit
ted to Maine Business.
State Assessors Regular Monthly Meeting
Other Matters Of Interest.

Benenclary Association of Westfield,
Mass:
The Insurance departments of Massa-
chusetts, Maine, Rhode Island and Mis-
souri,, having completed an examina-
tlon OF the Bay State Beneficiary Asso-
ciation of Westheld, submit the follow
ing report:
me examination was conducted by
Frank II. Hardison. examiner, Massa :
chusetts; William H. Brown, clerk,
Massachusetts,; c. W. Fletcher, deputy
commissioner, Maine; II. NJ. Maxfield,
clerk. Maine; William H. Brines. as
sistant commissioner, Rhode Island !;
Harry l.. Orear. accountant, Missouri.
prior examination of this company
by the departments of six states having
been made down to Oct. 10, 1885, the
present examination was commenced
at that point and carried to June Is of
the present year. During a portion ot
this period, namely, until September,
1896. the association had its headquar-
ters in Boston; its proprietorship and
management were then changed ana
the office removed to Westfield, where
the association was organized and for
merry had it's domicile This last
change restored it practically to its
former management.
The accounts and affairs were ex-
amined separately for the prescribed
periods covered respectively by thu
Boston administration and by that Of
Westtield, but the figures are combined
in the tables showing income and dis
bursements, and assets and liabilities.
The IIpIarsi uual rapor, rY,prI that tb.a
Bay State Beneficiary Association take
immediate steps to secure from Us
membership the payment of two or
more extra calls for contribution to the
mortuary fund, in addition to the or
binary, which extras may be demanded
in one or two or more instruments, Ia
provide for the unsettled claims out
standing on June Is, and claims arising
since that date.
This recommendation is made upon
the express conditions that said COM
pany shall, as to all new business:
First-Abandon the rule of carrying
all the first years premiums to expense
standardization all plans of limited
premium policies.
Third-Abandon the system of in
Guiding disability benefits with death
benefits, except by an increased rate or
assessment for such combination con-
tracts.
Fourth-Abandon all existing Ia bles of
rates of assessment and introduce new
tables in which the principles of strict
equality and mutually shall be main
tanned throughout the whole scale.
(Signed) GEORGE 5. MERRILL,
Insurance commissioner of Massa-
chusetts.
S. w. CARR,
Insurance commissioner of Maine.
ALBERT c. LANDERS,
Insurance commissioner of Rhode
Island.
HARRY l.. OREAR,
Superintendent of insurance. Missouri.
Boston, Mass, July u, 1897.
The following interview with Mr..
Moses, the manager of the association,
is taken from the Boston Globe:
The management of our association
is very much disappointed at the re-
suits of the examination, as it appears
in the published reports. We had hoped.
and we feel sure that the policy hold
ers had expected that the results of
the tXa1nlndtlcU Woull SHOW lIait Hidiiy
needed reforms had been inaugurated,
and that others were in contemplation,
and would soon be inaugurated, and
that needed reforms in office account
ing had been already instituted. The
management had been assured by the
examiners that This would be recog-
nized, and would be embodied in the
report AS a matter of fact, the text
given to the press this morning is silent
on all these points, and utterly fails to
give the information most desired by
our policy holders.
I'm this connection it is dsappoint-
ing to notice that, after 35-days' eX-
animation and an expenditure OF about
$500 besides the State expense. it does
not inform the policy holders of an in
crease of over 100 in membership. and
more than 1000 600 insurance in force
since Jan. /, last. 1t does not contain
the information that on June 10, there
were no claims due and unpaid.
The wording of the text given to the
press today implies desire on our part
that a recommendation for extra as
sessments be made. 1t says: This
recommendation is made upon the ex-
press condition that said company shall
as to all new business etc. Now, In
behalf of the management l desire it
distinctly understood that. in our judg
ment, the condition of the association
no more warrants an extra assessment
than a properly contracted wagon
needs a fifth wheel. However, as the
fifth wheel might some day be needed
in the case of the wagon, perhaps it
would be good logic to claim that in
asmuch as the extra assessment would
be placed in the emergency fund, the
assured would be much better pro-
tected, and if the insurance commits
sionerS are willing to assume the re-
sponsibility of ordering such extra as
sessment, we shall be forced to comply.
1T appears to us that more equita-
BILE method of materially increasing the
mortuary receipts would be to correct
the inequality which now exists in the
premiums paid by the policy holders
in the several classes of post norton,
rewritten, natural premium and bust
ness reinsured from other associations
under the former management.
1T was explained to the examiners
when they were in Westfield that this
,oattar bad receiyed cOuSidera ble at