The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1906-06-08
amount being allotted to the expense

ououAs VoAnS dllOIIeu " tAe eApeuSe
fund.
8. The N. F. c. tables were COM
piled for use by new institutions and
not by those institutions which had
been In existence for any considerable
length of time and who had thereby
accumulated q mass of impaired risks;
the mortality experienced of the rank
had and has exceeded that assumed as
a basis for the N F. C. rates.
The Endowment rank belongs to the
first of the classes / have given; it
collects in advance sum pre-calcu-
lated as sufficient to defray its death
losses and expenses
BY reason of the conditions as de-
tailed above such calculation is pa
tently defective and inadequate; the
rates were applied without an appre-
citation of past, existing or future con-
ditions.
At the present time the institution
Is passing through period of temper
airy prosperity, precisely such as fol-
lowed the readjustment of rates in
will repeat itself and the same con-
ditions existing prior to the former re-
adjustment will re-appear.
The iniquities of the former rates
exist at the present time, the only
change being in the matter of degree
or amount and these iniquities will
continue until the institution Is placed
upon adequate rates applied in math-
emattcally correct manner, and ac-
cOrding to methods demonstrated as
just and proper.
The future is as clear as the past;
it needs no prophet to fortell the end
and the remedy; the plainest prin-
ciples of life insurance demand and
require that the present membership
be re-rated, and that such rates be ap-
piled to new members Joining here
after.
There are some questions connected
with the REIMBURSEMENT of rates that
on the surface appear perplexing and
may require careful consideration, but
the application of plain, clear rules
clarifies the atmosphere surrounding
them and points plainly the path;
every member of the rank, be he old
or new. young or old, must pay to the
institution premium rates commensu-
rate to the risk and expense imposed.
and when this is done, the institution
will be placed upon firm, sound, per-
manent, financial basis. and instead of
being a constant source of disturbance
and distrust, will occupy it's true and
rightful position and perform duties
of the utmost benefit to every mem
Der of it and to the order at large.
While perhaps an institution of this
character bears no rightful relation.
ship to purely fraternal order such
as is the Knights of Pythias, yet there
is no great inconsistency in close
connection between the two; such con-
nection is mere matter of policy to
be determined by the order at large.
If the institution is placed upon a
sound, and permanent financial basis
it will, as have said before, cease
to be an eyesore and the source of
disturbance and danger; If. when that
time arrives, the better judgment of
the order at large determines there
should be longer exist close connec-
ton between the two, it may then be
placed upon it's own feet and started
upon an existence parallel but not
connected with the order, but until
such time does arrive, there can be no
enforcement; at the present time the
future assets combined, and to attempt
such enforcement would be but to
attempt reputation; such a policy Is
inconsistent with Knightly honor and
integrity and cannot be tolerated;
every energy and faculty of the SUI
preme order must be bent to the end
of placing the institution upon a sound
and permanent financial basis.
| Geo. A. Bangs.