The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1899-08-15
soMR STARTLING FIGURES,

SOME STARTLING FIGURES
The annual report oI sae business
transacted by insurance companies in
the state Of orsgon duriEg lsgS dis
closes a coniiuoa Of affairs no, sea-
erany appreciated by the public, This
report should have been made BY So
re,ary Os state Kinoaid, but that Of
ncial tanel 10 compile tas statistics
ami Sesretary Of state Dunbar has
prepared ana issued ,se report
FrOa this report i, appsars talt the
foreisa IRE Insurance companies 1oipg
business in Oregon received SIS prem-
iums the sum Of :lsa2ooSl5 from the
people Of :his STATE for the year 1855,
OF that sum s2sl,o7&7s was returned to
persons whose property was Insured,
because q Cancelled policies, etc and
ssssIsSss was paid back on account
Of losses by fire. It thus appears that
Of the a.so2eSls paid in by residents
Of this state to the IRE companies. only
sssSesss5 found its way back into the
state leaving S4s772Sa that went prin-
cipally into the pockets Of outside zap
,alsts. The sum of ss4s,772so may not
look ike a very large sum when rep
resented on paper. but 81 swelis to
enormoas proportions when compaH-
sons are made with ether sums, the
Use OF which are more readily compre-
hended. The appropriation FOR the
payment Of TIE expcnses Of the Oregon
insane asylum, our most expensive
state institution, is only $4,000
year. The twentieth session Of the
oregon legislature cost The state s5e'-
COO For two years expenses Of the re-
form school sss.ooO is appropriated. The
state capital cost ssOo,oOO only little
more than we send away every year as
surplus insurance premiums.
These figures are presented not as an
argument against Insurance. but to
show one Of the drains upon oregon's
finances. The money that goes 20 pay
large salaries 10 oaieials OF foreign in
suranee companies and that builds up
magnificent home ofice" buildings in
eastern cities should be kept in Oregon,
where it would add immensely TO our
development and circulation Allowing
that half Of this insurance surplus
goes into the pockets Of local agents.
there is stin a quarter Of a million dol
lars going yearly to eastern states or
to Europe. without the smallest return
therefor
The hg-Ires here given relate only
to fire insurance. The remedy is not
plain. but viii BE- easier than the task
Of stopping the fow Of money sent
away from the state for life insurance.
In one year oregon sent away $685.
42s22 in life insurance premiums. re-
ceiviug In return only .S2sl5, leav-
ing s.ss, 6o;.07 for which we received
nothing. The excess OF marine insur-
ance premiums over losses paid and
premiums returned amounted TO $lsS,-
1863 in one year. How can the people
Of Oregon expect TO be prosperous
while permitting such excuses Of ex-
penditures over receipts 10 continue?
It seems like folly to advocate the
organization Of home companies, for
the people have not forgotten, nor viii
they soon forget, the losses they sus
tained through the wrecking Of the
state Insurance Company. Men who
paid for insurance they did not get
win not readily patronize another
home company for the purpose Of
keeping money in the state. And yet
It is very evident to any person who
viii take time to consider that a
strong insurance company, organized
with safeguards which would guaran-
tee protection to the insured, ought T.