The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-01-11

cost Of the protection TO family. Just as
the taxes collected by government are
intended to meet the cos; Of protection Of
lite and property. yet our old line friends
insis, that safety can only be secured by
Immense Accommodations. The president OF
one OF our leading LEGAL reserve companies,
who has long since ciei issued the follow
tnS circular November ~. 1879:
To The policy holders of this company;
The ability Of this company to lower
its rates OF premium has been demonstrated
BY its past experience and We have I'M
willingly taken premiums In amounts quite
teyosd the necessities OF our business for
! years past Why should We have been
| compelled TO take forty five millions which
We have returned 10 our policy holders as
over payments. called dividends The pub
| lie IN Its own time will ask TIL. question
with emphasis. We have given back from
I year to year 10 our policy holders ali that
has not been necessary TO guarantee CUT
| contracts beyond question. but why should
the POOR man. who pinches himself to in.
sure his life for the benefit Of bis family
Z Ne required from year to year to pay US
( sum beyond what is necessary the effect
/ Of which is to involve him in unnecessary
Submissions and loss OF interest There
! has been no year In the history OF the conf
psny when 1t could not have taken prem
irns upon a far cheaper scale than il has
done, and even then have been able to re-
turn a respectable percentage 10 over.
payments at the end OF the year.
That man. while standing al the head o.;
one OF the lsrges; and oldest legal reserve
companies. was evidently an ass ssmsnt
man a, heart No better argument couh
be produced in favor Of the improvements
wrought By assessment insurance.
II Mr.. CHM and his fellow advocates
could only realize that We are living In a
progressive age and would study the Sci
y. I've a -fss tic
eliminate between fraternal orders and
business corporations that are held 10 a
strict accountability BY every State In the
Union. We believe that the term assess
mert would not be so offensive We who
understand the true definition Of the word
assessment" as applied to Insurance. are
proud Of the distinction. Among the up
TO date insurance men 1t has already be-
come a synonym Of strength. economy and
Justice
In conclusion. We would suggest 20 NJ
Chinn and others who persist in CHASING
assessment companies with fraternai or
ders that nothing would be more profitable
TO the public, or more pleasing to our leg
islaiors. than free and opcn discussion ot
the principles involved. When fully UNI
dersiood. perhaps we will have fewer laws
and better ones. more money at present and
less dividends for the future.
As a blackboard demonstration would
be much more convincing of the relative
merits OF the two systems than a written
discussion OF a mathematical problem can
possibly be. can not resist the tempta-
ton to challenge Mr.. CHM 10 a public
discussion OF the fundamental principles
underlying the two systems. either before /
a public audience in the city OF Dallas or
a legislative committee in the city Of Aus
tin.
Now Mr. Chinn, II you really think that
there is no safe insurance save that writ
ten by legal reserve companies we hope |
that you have the courage of your couyic- |
board
| would suggest that you select as asso- |
ciates any TWO legal reserve general agents |
in the state that you desire allowing me
10 select two assessment general agents in |
like manner We will take the premiums |
chareei by well regulated assessment |
company OF our own selection and UNDER
take to defend them against any criticisms
you may offer. You may take the regular /
charged by any legal reserve /
company OF your choice and undertake 10
defend Them against my criticism that we
may offer II you will put up reasonable
amount OF cash as forfeit and TO guaran-
tee the faithful performance OF the contract
lFe will DO the same. ard il We fail to con-
ciuce the legislative committee, or any 1--WE
Of the prominent business men in Dallas
fairly selected. Of the fact that the assess
Meht. plan VIII enable a company to pay
more death losses for each 1000 men in
sured than can the legal reserve company.
and remain solvent. taking into consider
alton the laws under which the two sys-
ems operate, you will be entitled to the
expense money. and if we prove the facts
above stated 10 the satisfaction OF the com
nittee we are to have It,
Now Mr. Chinn. please do not refuse
his challenge and then go TO throw ing
art on scme particular Assessment com
pany. but come up like man and let us
iiscuss principles
We do not contend that the premium
'ates 81 all assessment companies are cor
ect' neither will YOU contend that all legal
escive companies art equally meritorious
would also ask that you do not contend
hat the test would be unfair. by reason Of
'ur ability to levy an extra assessment.
or We viii bind ourselves to use no more
Z the policy holders money in making the
eat than YOU do
Ioping that you will grant us the pleas
ire OF putting this matter at rest In the
manner above indicated. I am. very re-
pectfully 7 Brown