The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-12-03
MANY DEALERS
IN IMPLEM ENTS
- 80 20 -

when ne rsfuses 70 accept for the other
subscribers q cut rate o. premium from
any particular sub=cubT-
.Hr Carney, our manager. has lost IN
commissions very Considerable SUE
because he has stood, as he should abso-
luteIy stand, for The equality OF prsEiurn
rats paid By esch subscriber 70 the other.
Il he accepted a cut rate from one sub
scriber. then. to place the other sub
scribers % Al equality. he should rebate
10 every ether one al amount squaling
The same per cent Of cut and there would
be 10 nEais 20 a policy OF this kind II
once established and the fellow Who had
received q cut q q cents hundred would
n turn want the manager to even him
NJ vitk tbs fellow who had received
cut Of 3 cents hundred; and so On Until
this plan Of in-urance would Se utterly
discr-olted and every one would gain De
paying the old companies The CID rate ot
insurance. With no dividends being re-
ceived ~ the end q tas year reducing the
cost o. their Insurance more than - per
cent.
1t is "cinoh therefore, that a cut
rate VIII not be accepted n the Hecipro-
cal Underwriters O. Lumbermza's Ex-
change plans Of insurance, for the req
sons already stated, ant the manager xii
continue 70 decline fcr the subscribers
extra hazardous risks Tor we show thst
as managed il has proven 70 be the best
an6 cheapest Insurance. n this country.
ana IT'S best recommendation 70 it, sub
s~-isers IS she evidence that - present
high character VIII be maintained
Every ore knows that a single years
experience CT IT insurance plan would
not Go fair test Of its workings - he
Is VII Wary from year 20 year. The Re
4 tr-ocal CndsrEriters has been running
rve years s15 rs average record for Jhe
whole Eve years i p perfectly fair AID
r iaole estimate % what EAy be ex-
pac1ed. The total ret premiums paid ~
the subscribers n ths Reciprocal IN i've
years amounts 70 GagE-g7. the tatsI
losses ter Eve years have been q sls.ia.
leaving the very rerDsctsals bslauce of
81 So Witch. Under Tee "a Inc plsn-
We would have PAID thsm fer taklrE
care O. cur money sns 7a-fnE these
losses IS they occurred. in o-aer cords.
% rs- cent q the premiums hAve paid
thc losses in the Ias- I've years. leaving
20 Per cert for expenses
Eo-. how does Guy expense account
colrr5re with the cid line cost of 70 per
cent Of The principal. for here Il where
The ving must De made The total *
penscs for the i've ye.rs his been =, s43.-5
vhi-h. taken from the balance left after
payment or losses o sE.FSs >. leaves 4
balance OF 81. -. s.. portion Of which
has been placed to the credit OF the sub
scrioers on the books. increasing their
deposit 70 the maximum required, and
the rer-einder has been returned 20 them
II cash as dividends, showing that Ne
have had the safest, most reHs5 Die insur-
a1ce th7t could Be obtained. and By dotng
che business il this new and better va
our prorts have been > per cent Of the
balance OF The premiums LETT after the
loses were aid.
The Luu berTusn's Exchange has been
running eight years; as previously stated.
the pan i similar the only difference
berg IN the character OF the risks. it be-
in.- confined strictly 10 the lumber line.
The total amount Of premiums Paid in
sth- eight years Il has been running is
$3.50; the total amount Of losses paid
s.. $500, leaving balance as shown 10
pay expenses Of STATS. The total cost
OF running expenses was S27..s3.29; leaving
a balance q ssi.1se-2S. showing an average
net yearly proat OF noses -. which vas
returned back into the pockets OF the
subscribers
There Is 10 secret about 1.-THE insur-
cree IS Is good as gold. We have sim
ply found g cheaper way OF doing the
business. and every dealer Who has risk
that is not extra hazardous and unsafe,
can participate n II on-ths regular board
basis OF premiums. which is not the
actual cost a. your Insurance. but your
proportion Of the total amount paid IN 10
put in on an absolute equality with your
brother dealers What II actually costs
IS. as I have shown for the I've years
:. has been running. IS per cent of the
amount paid n. This does not mean 70
per cent Of every Individual premium
thar each one pays but does mean IS
Percent OF the average premium paid By
ali For instance. one dealers rate IS
5. per hundred and another IS 8; the
average would Re g per hundred. The
basis Of th- rate being absolutely fair.
the plan works out exact justice 10 every
ere as per his greater or lesser risk OF
fre.
This plan CT Insurance IS now beyond
the expo, mental stage. Enough dealers