Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1900-01-12
paiIp kennebec Journal.
AUGUSTA LOCALS.
WITHOUT INSURANCE.
Augusta Lodge, A. B. S., Suffers
from Supreme Lodges Action.
The Transfer Of The Company's Insurance
Declared to Be illegal.


Local VI lllt american
Benefit Society, and Augusta has "A
GOOD lodge. are talking over the con-
Solidation or the reinsurance in the
Boston Mutual Life Insurance Com
many. They have but just received
tvo circular letters. one from the Off
cers of the latter insurance company.
stating that the insurance commission
ar Of Massachusetts had decided the
consolidated reinsurance in the COM
nanv is illegal. and Offering a new way
ont of it. If the reinsurance cannot be
done as a body. then the Boston COM
nsnv suggests that each individual
member may reinsure privately, for
according to the way it looks and in
connection with Il letter from President
purr of the American Benefit Society.
,bose who do not reinsure in the new
company will be left out After the
action Of the supreme lodge Of the
Benefit Society it seems that ii will
not exist longer
President Burr mails a circular de
Tending his position. There has been
great deal of dissatisfaction ex-
messed at his action in the matter. and
some have even suggested that he has
before been in companies organized
and then transferred. so it is alleged.
DIR. Burr says it was the lack Of funds
and the general apathy of the mem
bers that caused him to make the
change and what influenced the su-
preme body Of the order.
Dr.. Burr points out the fact that the
fraternal work. in 10 per cent of tho
cases. had ceased. and this new insur-
ance will not make it necessary to keep
up the pretention of holding meetings.
In the cases where it is desired. the
fraternal part may be kept UP but
otherwise the local collector will DO MI
the work necessary.
The Boston Mutual Life Insurance
Company SAYS in part in its letter.
We beg to advise YOU that the in
surancr commissioner is of the opinion
that the contract recently made by ana
between the American Beneft Society
and this company. whereby We were to
rensure the membership and assume
all its liabilities, was not lawful and
that We had no right to ISSUE our
policy on an application made to said
society. and in accordance with his
suggestion. we have decided to require
each member desiring insurance in this
company to make an application
therefor on the form Of blank enclosed.
The same policy will be granted as
was originally agreed upon, and which
met the approval. by a unanimous
vote. Of the supreme officers at a
special meeting held on the 10th day of
last month This policy is on the year
" term and whole life plan. The pre-
miums increase slightly each year with
the age until the assured reaches 50
years Of age, at which time they re
maia level The premiums payable
under the policy will be found on the
accompanying rate card. At the end
of each five year period all payments
in excess Of the cost of maintaining the
insurance and the legal reserve re-
qured by law, will be returned to the
members. An estimate, based on eX-
perience, is given on the rate card.
The cost of the insurance will never
exceed the amount called for by the
policy, as there is no per capita tax or
expense dues.
In our opinion, the supreme officers
of the American Benefit Society made
wise move and did what they con-
scientously believed was for the best
interest oI tle members oI 'he le'S'
and they fully realized that the time
to provide protection for the members
was the present as the growth of the
society was very small and its outlook
for the future was discOuraging.
President Burr's letter to the members
Of his order first tells Of the cOnsllida-
u0n ana then later ADDS that me CONTRACT
has been declared of on account Of the
ineur,r,., ,.,,,,,,,i...i.,,,... t,icttn,. He
Sa!S mat many 81 the Stl"iS'S0 'ii'' "
the order have endorsed the step taken
by the Sunrerna T.,dpa "It j. useless to
80 - 90, .t,..,..
''i' any "'Itr ''d'r' ne S"SS' l"' ~
are all in the same bOat-all changing or
goina, tn rb,noa ,..t.s u.,tbinu stable
NH.
N'ho =" mistake. 'or even N 'I' I'"
members who met At Willimantin have
their WV aul r..,.i,.,. W.. ,t,i..r tr.. vflI
III.
'N' '"S'l'"'' 'ii' "iN ~ l.'i'"i' l"''
sure - follow. The general feeling Is
that tn order IL ,I.,J b.yu,,I r..tirrcr-
ti,, All t.t, ~,
'''" d I'''lN'r9IIP i I''' '''''''' ~
Wehat" oi ali has been thu aim OF the
Suur.iua l... .,,,l w.. have mat home
d,t..i H..
"'ri ~ '"' thd"S'' one '''1'
9TH" reasons in brief that caused the
Suurtm,. Inla. +n max. +r.. chance.
v.r..
flFSl Inadequate funds To conduct