Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1901-01-03
OLD Line INSURANCE
VS.. FRATERNAL ORDERS
INSURANCE MEN CONTEND THAT THE FRATERNAL 0RGANIZA-
TONS SHOULD MAKE REGULAR REPORTS TO THE STATE
AND PAY TAxES-THE FRAT ERNAL MEN CONDEMN THE
PROPOSED LEGISL ATI0M AS A BIT OF JEALOUSY.

of the Royal Arcanum financial secre-
tary of the National Union and a MEM
Der of the A. o. u. W., asserts that
there has been a disposi ton on the part
of the old line insurance companies for
the last 20 years to crowd out fraternal
insurance, from the fact that the de-
veopment of the fraternal idea has
made great inroads in their business.
"Fraternal insurance is, in my opln-
ion, practically as safe as old Fre in
surance." said Mr. Wild. "Of course,
my remarks must not be construed 10
mean other than fra ternal orders that
are we'll handled. There may be some
of them that ale not but those l now
of here are ali right in every particu-
lar
"Fraternal insurance is also much
cheaper and more desirable for the
masses than old line insurance. 1t is
only those in easy circumstances that
can pay the excessive premiums re-
quired of the Old line companies, and
I have yet to notice in looking over the
list of fraternal insurance societies for
the last ten years to see where any of
them have failed to meet their iabiE-
ties. My experience leads me to believe
that those companies in which l am
personally interested are just as safe
as the old line companies, and much
| cheaper
"This idea of placing the fraternal
insurance orders under state super
vision is something which I have given
very little attention." said John q.
Evans, president of Section 564, endow-
ment rank, X. of P. Il am inclined, how
ever to think that the main reason for
such a movement is jealousy. So far
as the endowment rank of the Knights
+, of Pythias is concerned. it has always
paid it's policies. just as promptly as any
old line company in existence, and the
indications are that it always will do so.
Il do not think state supervision in
| this case is necessary. Where articles
of incorporation are filed, it is nothing
but fair that the state where the home
| office is located should have supervision.
| However. 1 don't suppose that any fra
| ternal insurance society would make
strenuous objection to state supervision
1t wouldn't hurt anything, even if it
did no good, and my belief is that it
| would do no good"
M. d. kilgore, secretary of Section
564, endowment rank, X. Of p, asserts
| that the order has in this place a men,
(, bershlp of 80 and carries an insurance
OF Sl32,OOO. The endowment rank has a
reserve fund sof nearly a half million
| dollars.
The insurance is much cheaper in
| proportion to old line insurance" he
said. THAT i think it is nothing but
jealousy on the part of the latter which
| prompts such a measure
What more do these people want 90
queried Col. c. H. Moore. so far as
the a. O. L. W. is concerned, a paper
| is now published every month showing
the condition of the treasury and the
amount disbursed. Any person who so
desires may read.
"Further than that, the 700 members
of Butte lodge either cannot or will not
insure in the old line companies The
! assessments are entirely too high for
the ordinary person. to pay. This policy
may be correct and it may be incor-
rect, but the fact remains that it is so
IL believe that this movement is due
wholly to business competition and the
fact that fraternal organizat TONS good
bad and Indifferent. are growing very
rapidly in the country at large. Last
year the a. Q. L. w. in this country
took in $4,000 members, representing
$l12OOO,00O worth of insurance.
Let me give you an example Of how
fraternal Insurance is looked on by
financiers. There was Henry Filing the
deceased banker. He was a pretty fail
business man, I think all will admit
and yet he carried $21 600 worth of in.
surance IN fraternal societies. He eyi.
IDENTIFY thought it a good thing, anC
there are Others