Mexico weekly ledger., 1897-06-17
ABOUT INSURANCE.
Hon. Ed. T. Orear, Insurance Commits
sioner, Has Something to Say
About Foreign Insurance.

he recommends the patronage of home
companies.
In his report he says: "That in his
opinion there is no business or science
of such large and vital moment to all
people about which SO little is known
or understood, even by the intelligent
and educated, as the insurance bust
ness" Though all branches of bust
ness is a science which to be made
successful must be carefully nurtured
and studied, many business men do
not even read their policies. They
are approached by some smooth talk
ing insurance agent who will shoW his
company to have large eserve funds,
and assets, and also the greater mum
Der of losses paid, and, after a few
moments conversation, leads you to
believe that his is the only insurance
company in existence. Why is it that
people who believe in home industry
will insist on paying foreign compan-
les an exorbitant premium for their
insurance and send money out of the
state, when, on the other hand, by
insuring with home companies they
could not only make the insurance of
home companies a success and keep
the money at home and in circulation,
but also promote a system of economy.
His reports show that eighty seven
American companies located east
increased their reserve fund 81, $780,
955. 90. They increased their surplus
&c. 800, 341. 90, making the total profits
for eighty-seven companies for the
year 1896, $16, 901 10000 In addition
to this enormous amount of profit the
British companies sent to their home
offices in England, $5,013,44 Al so. This
makes the total profits to the eighty
seven companies as above stated, and
the British companies al to what
| they have sent to their home offices,
S21, 905 ,349. so. The British or English
companies do not make a full report.
They simply show the amount that
has been sent to the home offices as
profits, but failed to state how much
more money there is on hand in their
| various offices in the United States in
the way of profits that have not yet
been sent to the home office.
Citizens of Missouri: Do you not
think it is high time to p%atronize home
companies? Do you know the insur-
onoa rotoo of tho uost ora oyorhitaOt-
and that the insurance rates of the
east are less than one-half compared
with insurance rates of the west? Do
you know that the west has been pay
ing all the profits to fire insurance
companies and nearly all the losses of
the east? Is it not well for you to
consider this matter carefully? We
have some first-class home .compan-
les, among them the American Bank
ers, German Guarantee and Mechanic
and Traders, all of Kansas City, Mo.
These companies are represented by
A. B. Cluster, of u city, who is
special agent for N. E. Missouri. The
companies are under the direct man
agement of Mr.. D. J. Flintjer, an
experienced, old and tried insurance
man. He had been with the eastern
companies for over twenty-three
years as general agent and adjuster.
and was selected by the above named
companies as their general manager
The secretary and treasurer of those
companies are under a surety bond Of
$4,000, for the protection of the
policy holders. No other mutua
company in the state has taken the
same precaution. This insures the
policy holders against any loss by
dishonesty on the part of its officers
In addition to this the assessment
notes taken by these companies fol
the security of policy holders for thu
payment of losses are non-negotiable
non-interest bearing, payable only tt
the companies. They r first clas'
security and cannot be used by anyone
except the companies, and for Iossel
only. Is there a company in the cas-
that can say the same of the asset'
they have? We say, no..
There are no better home compan'
les than those above named, and WI
hope that our people will CAREFUL.
consider this matter and patroniz'
home industries. The eastern insur
ance companies take over 8 $1,000, Oo'
of profit out of Missouri every year
Why not keep this money at homer