Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-05-15
Committee Appointed to Assist Nan.
agemsnt In Work Of Rein.
corporation.
Meeting Closes With Good Feeling
Expressed on All Sides senti.
ment Of Membera

1
meeting, when the three questions,
whether or not the company should re-
incorporate, become an assessment
company or consolidate with the Kan
,sas City Life Of Kansas City came up
for discussion. The vote was practical
Is unanimous. and after the whole mat
ter had been discussed, from every con-
.ceivable point, and the vote decided that
the company remain an Iowa institu-
ton, doing business under Iowa laws
and with Iowa people. the best Of feel-
ing prevailed and the meeting closed
in good humor.
"A committee Of the policy holders, in
the persons OF F. G. Moffett and S. B..
Allen. of Des Moines, and q. s. Turrill
OF Jefferson, was appointed to assist
President Halbert and Secretary kin
ny in the work of reincorporating.
Several interesting points were,
brought up against the idea Of remov-
ing to Missouri, one being the fact that
when SO many Iowa people carried in-
surance IN the company, IL the Offices
We're located In Kansas City, and any
disagreement would occur in the pay,
ment OF death claims. the heirs Of the
policy holder would have to go to Mis-
souri, to sue the company The general
feeling among the policy holders repre-
scented seemed to be that altho the in
ssurance of older members would cost a
little more, the money had better be
paid, and paid willingly, rather than to
have 1t paid into Missouri company at
q lower rate. All old members Of the
company now keep their insurance in
force without REORGANIZATION.
Mr.. s. B. Allen, OF Des Moines. and
Postmaster Turrill. Of Jefferson. both of
whom represented q large number of
policy holders at the meeting Monday,
said that in their opinion the action ta-
ken Monday was the wisest possible
course and that the company will here
after, under the new law. be stronger
than ever.
The result Of the vote, altho Of inter
est to Iowa, is of especial interest to
Marshalitown. The company was organ.
lied here years ago asa small affair,a
has grown to it's present proportions un-
der the present management To have
the headquarters removed from the city
would be q serious loss in many ways.
and especially to the postottice, the res
lceipts Of which are an important factor
to the development of the city ut this
particular time. The company has be-
tween 5000 and 5000 policy holders and
has between 100000 and $4,000, 900,
worth OF business that will now come
under the new law. All of the insurance
Will be valued on the actuaries' 4 per
cent basis, az required, and the valua-l
ton will be deposited With the auditor
of state for the protection of the insur-
ance, the same as all OF the Iowa old line
companies. 1t will now be necessary for
the older members to pay little larger
premium, in order that the policies can
be valued, as the law requires.
Mr.. Halbert. altho he opposed neither
of the plans directly, favored the Kan
sas City consolidation idea, because he
considered that the largest number OF
policy holders would be affected. He
figured that there were many old pol
icy holders in the company now, who
We're carrying their Insurance as mat
ter Of protection, and We're not paying
enough premiums to allow their policies
to be valued, as required under the new
law, hence many, he feared, would be
compelled to lapse. When asked about
the result of the vote he said that he
was we'll satisfied, for personally he did
not want to move from Marshalltown
My interests are all here" he said;!
my home is in Marshalltown and the
removal of the company's headquarters
would necessarily mean that myself and
family would have to remove from the
city Altho deemed 1t the wisest
course for the company to take as q
company, am heartily IN favor OF re-
naming in Marshalltown and reorgan-
Eizing under the new law"
Postmaster Turrill, OF Jefferson. who
lis also editor OF the Jefferson Souvenir.
was one of the most interested policy
holders in attendance at the meeting
Monday. He said that 1t was remark
able how the outside people Of the state
felt toward having the company remain
in Marshalltown, where II had grown
and prospered. He said he felt this was
the general sentiment Of almost all of
the policy holders whose homes were in
all parts Of the state.