Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-11-05
SPECIAL NOTICES.
CUT THIS OUT9
KEEP It'll
POLICY HOLDERS OF THE MUTUAL FIRE IN
SURANCE COMPANY.


SuRANCE COMPANY:
The managers have published that my insurance
had been Cancelled March "a, 1900, notwithstanding
the Injunction IF the Equity Court, dated March
The two questions. THEIR RIGHT to put out
members vino do not vote for them, and the RIGHT
make or alter bylaws, are before the courts and
we will not discuss them. g. 1890 !,
will state briefly and clearly as possible
They have refused to meet 1t themselves or to al
low 1t to before the members. For 81 $50 In
800 on frames the note is $3.50. The RATE made
per cent the first year. WHY? To give your pol
ley a 81 RRENDEK VALUE or share in the assets
pen cent Of i phc ss e paid soTLb be I
TO YOUR CREDIT. as the BASIS UPON WHICH to
At average profit of per cent on the assets
compounded Your policy Icy, should be worth $500 In
In 1871. when the regular rate was Two per
cent 33Ia per cent should have been credited the
TOY. per cent of that first years premiums, or
g los ont Of $500 paid in The savinxs in ISL
ONE per cent. i62s per cent should nave been
credited to surrender value, but only p per cent
tied or SO cents out Of $500 paid in. The savings
In 1882 were $11 .6S393.
Thus the surrender values of these policies are
compounded. the one SAB out of $50 paid In and
the other 81 80 out of $40 paid in.
The books show that the average credit to sur
render value out OF these first years premiums he
per cent. on premium notes and new policies were
entitled to credit Of a" Per cent was about %, o.
Fender r" value out Of the first year triple premiums
paid between 1880 and 1900. en- the regular
policies. We're entitled to credit Of Sts per- cent
was about p per cent. the one decade giving poll
ceive and the other decade giving about two-tfths
of what they were entitled to receive.
ten about 1000 during the past ten years, sub
tect to this lower rate of profits In hve years
about 1000 in ten years. largely from the old pol
ices Thus. you that two-thirds of the mem-
they entitled to, and many hundreds receive as
low sixth of what they should receive, while
the others receive nearly double their. equitable
share in the profits u the company
These older Withdrawing members have been paid
$124, from the assets the past ten years. Take
the total savings reported in fourteen years from
1850; then take the percentage of premiums cred.
tied, and the percentage of credits the basis Of
same fourteen years. and you will discover dis
crepancy of about 100000 more credited than the
entire savings of the company in those years with
Offset of only $4,000, where they padded the
assets by increased Kauaton of the real estate.
This demonstrates that the old policy holders
wittdra wing have been paid 40 per cent. or
$4,000 the last ten years, more than they We're
entitled to- as in Mrs Matlock's case and hundreds
of others A discrepancy between the savings and
the ledger credits in 1880 required the payment of
a drawback of $s}. 81 . 80 to balance the books but
this lately discovered discrepancy is on the other
side of the ledger. 1t follows of necessity that the
assets entirely Inadequate TO settle the sur
render values. even they are now unequally
credited and that the books cannot be balanced by
any expert accountant.
YOu Judge whether You will allow them to
the old proxies. even give new proxies. to
continue this condition Of the company. You must
say whether y"I will continue to allow one fourth
of the members To receive three fourths of the
profits.
Do you wonder that. while the insurance has in
creased 81 .GI1 IN five years. per reports the
assets have been reduced S; 5t6 30? Read section
10 of charter IAN real estate purchased 10y said
company for the purpose of collecting OF securing
debts SHALL EsSCHEAT to the government Of the
United States, unless the same shall have been
sold disposed Of and passed bona fdc fram the
possession and ownership of said corpora ti"n. with
In three years next succeeding such purchases OF
&c. 900, ny deed dated April Is. 1897, the company
has title the same having passed to the United
States Is ignorance any excuse for neg ect Of du
Shall the secretary and treasurer continue to keep
both the board Of managers and members in ignOr-
of the true condition Of the company; l am
annual meeting. / have had great expense to vim
dicate This principle of mutuality, hut now throw
the responsibility upon y"n. Shall this holding
over board spend vast az your money to con-
time them In office after refusing remedies sug-
gested:
and kept quiet: hut when invited back in lS.'S by
these men, then threatened ly the policy holders
with removal | only :iss"nt"d upon the express
promise that theS" rights VI the policy holders
should Ice protected. mad' an examination of the
books, and made report 10 Them: their answer was.
SAY YOU: Shall this matter hay" Your personal
only your PROXY tTTENTl:IN. signed III pencil
in blank. that any ON" ma! use them as they
choose:
Other questions. NEXT,,,
& H. WAIkER 43N Ia. ave.