The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1905-12-23

western competitor Of this New York
company that it's alleged surplus Of
eighty million dollars represents an ac-
tual tontine liability Of about sixty-nine
million dollars, with a real surplus Of
about eleven million dollars. We do not
vouoh for the correctness OF this state
ment; il true. IL is obvious that the COM
pany referred TO, after deductng the
shrinkage above mentioned, Instead Of
having any surplus at all. has seven mill
lions less than enough to pay actual liz
abilities If. or the other hand, its as
se.s are really Impaired 10 this extent
II win probably be fouad that enough
vii be Whitfield out Of the deferred div
idonds due 10 its tontine policy holders
70 fiji the gap. Ana this leads us to the
observable that no life Insurance con-
tract ought to be SO ndeanite and un-
certain thar its net worth can not be
computed and definitely ascertained at
any and all times.
Among the regulations that should be
imposed by tho states upon all corpo-
rations whether domestic or foreign,
engaged IN the business Of insurance,
are such as would insure complete pub
licity OF an matters affecting assets and
liabilities their contract relations with
other corporations engaged in like bus
iaess,-and Ia the case Of life insurance
companies. fun and complete informa-
tion as TO an policy obligations. in-
GLIDING the name and address of each
policy holder. whether within or without
the state Such records should be open
To public inspection at all times. The
/ less mystery that is thrown around The
1 business Of insurance. the better It wil
/ be for both the companies and policy
holders IL is the inherent right of each
member 81 "a mutual corporation 70 CON
/ fer with his fellows Cor the c9mrnof
good, but the due exercise Of this righ
/ is erectually frustrated II the members
are denied full and complete information
as TO the affairs Of The company
No discussion Of life Insurance woul'
be complete without some reference q
the industrial feature. This form o
policy is written upon premiums pay
able wee6ly or monthly. and usually 20
small amounts. That II has proven pop
uIar particularly among wage carriers
is shown by reference to the numbe
and amount Of such policies as compare
with The number agd amount Of pol
icles written upon the ordinary life plan
or the companies authorized TO DO pus
mess in Massachusetts. there were q
force at the last report f,35S,l96 ordi
nary life policies, against 13,ISsls6 in
! dustrial policies; the amount Of msu
rance represented was Sa,l2L6Q0,3il OF
, binary NE, ana Sis94SlL2s7 indlstrie
The lesson we draw from this comparl
son IS that the benefits OF life insuranc
: are well known and appreciated by th
wnge earning class and that wheneve
{ its cost upon the ola line plan is pm
wi hin their means ltwill mark the pass
! ing of The assessment companies. TN
form Of Insurance ought 20 be encoui
j aged ID fosters the snirit Of eco1om
j ana thrift among The class where It
? most needful. and the subject of its reg
{ uiation deserves the careful attention
the law maker,
Concerning the regulation OF insuran'
b other then life, IL win be found that N
y principles heretofore dlscussed win ger