The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-09-06

follows: The employer stipulates in his
contract that the employe shall take out
ploye, when injured claims his rights UNI
der the policy, he is to be eStopped from
bringing action against the employer-or
he must first show that he has discharged
the employer from all liability: if he does
bring suit against the employer he has
waived his rights against the company
under stipulation in the policy, and the
loss OF the employer is provided for by in
surance. Such agreements have been up
held by the courts. but the arrangement
seems to be too complicated to obtain the
favor IL deserves.
The recent illness Of King Edward VII
has brought into prominent notice the vast
amount of insurance placed upon his life
by his subjects The beneficiary of course,
has some pecuniary interest in the life of
the King, but according to American opin-
ions II is somewhat questionable whether
such insurance should be allowed. 1t will
be remembered in this connection that
many brokers placed insurance on the life
of J. Pierpont Morgan, in whose continued
existence they had a plain insurable in
terest; and such insurance contracts are
quite common abroad. But when il is
taken into consideration that this insuring
is without the consent of the insured, and
also makes him liable to the dangers of
assassination, ii strikes one as rather I'M
fair that one man should be made the
financial scapegoat for the losses of others.
De tnelr NUMBERS ever so great In the
case OF j. p. Morgan this danger was
slight. as only those who could show an
immediate interest in his existence could
obtain insurance on his life. but if il were
allowable to insure the life of the President,
as 1t is to insure the life of the King of
England. We can see that any Anarchist
might by this means obtain money 70
benefit the members of his atrocious So
ciety, and also to carry on his own de-
Tense, besides giving him an additional in
centive to the deed.
The classification of risks by the accident
insurance companies is extremely interest
ing. Risks absolutely tabooed are workers
in nitroglycerin, soldiers, professional ball
players. divers, aeronauts. circus riders
and United States deputies supervising
moonshine districts. Brakemen, miners and
electric light carbon trimmers are limited
to $3.50 in case OF death; the next class is
specially hazardous" which includes
hunters. employees in furniture manufac-
tories. lumbermen and others. Extra haz-
builders and workers IN iron manufactor rtse
Hazardous" occupations pay at the rate
Of $l5 for $1,000 and are limited to 81 500.
Among these are included farmers and
farm laborers, fcemen and telegraph line
men. The bartender and electric railway
employees belong to the extra medium
class, which also includes distillery en-
ployes and volunteer city firemen. Me
dunn risks" include the house builders,
bookbinders bottlers attendants on the in
sane, men who travel habtualy on Pull
man cars. Those in the extraordinary
list are persons in some way connected
with manufactures as superintendent and
those who direct repairs. Ordinary risks
include those whose businesses bring them
in contact with the public to great extent,
as agents, billposters, bartenders and 9TH
ers. The preferred are those who DO
Office work, or whose occupations are sed-
entary, as typewPiters, ministers, physi-
clans and surgeons. The country doctor is
not good a risk as one who has city
practice, who is Select risk and can get
$1,000 of insurance for "a premium paid.
The great usefulness of bonding COM
most honest men prefer to &C to them and
make business arrangement concerning
their bonds rather than go to friends, and
ask the favor for which much greater
favor may be asked in return. The ma
jority of business houses now prefer bonds
signed by fidelity companies which they
know are perfectly solvent and which viii,
remain so. But the bonding company as
a factor In encouraging and enforcing
morality is less understood and appte
ciated. The ordinary bondsman is usually
a friend of the person for whom he mas
become a security, and after signing the
bond does nothing more; but the surety
company keeps a close watch on the prin-
cipal on the bond, and sees that he attends
well to the business of the position which
they helped him to secure and If he alb
seconds proves & defaulter there Is no
forgiveness by the company, but the pun
iShment is exacted to the full extent of
the law good illustration of the power
for good of these companies is afforded
by the career of young man OF this
city, who was probably saved from be-
coming defaulter by the prompt action
of a bonding company, which found that
he was exceeding his income and living
fast life. representative of the COM
pany had private talk with him, pointed
out the error of his ways, and threatened
TO withdraw from his bond If he did not
reform. Since this would result in the
loss of his position, he did reform, and
owes his present success to the strict kind
ness of the bonding company.