The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1906-04-26
TESTING AN INSTITUTION.

are announcing that they will pay all
the losses incurred in the San Fran
cisco disaster in full. This is differ
ent from the first reports which claim
ed that the companies would avoid
the payment of all claims which it was
possible to contest. The latter state
ment was in all probability given out
without the knowledge of the insur-
ance companies.
There is a double pleasure in the
payment of the companies. In this
day of rank charges of corruption in
all those who are in any manner
responsible for the management of
large affairs, the fire insurance COM
panies would in all probability have
been among the victims of the muck
rake journalists before many months.
The opportunities for securing an at
tentive hearing would have been great,
for the vast majority of the people are
carrying the value of their property
in case of fire in their insurance
policies. Every one of these would
have been a ready listener to any
charge of corruption or mismanage-
ment in the affairs of the companies
a few facts can be distorted and so
mixed with that which is false that
the whole has the appearance of truth,
especially when the matter is not in
vestigated deeper than the surface.
which is as far as the general public
goes in such matter. taking the declar-
atoms OF the writer's for truth beyond
what can be seen at first blush
Had the companies wavered for a
moment in the course to pursue in
reference to the payment of the losses
there would have been frenzied APP
peal of demagoguery for the cancelling
of the policies that would have left
millions of the people at the mercy of
the fire fiend.
The mouths of these people will
have been forever stopped by the pay
ment of every dollar of insurance in
force in San Francisco. 1t will give
the public double confidence in one of
the recognized business institutions Of
the world. As a consequence. there
will be greater amount of insurance
taken than ever before
1t is we'll recognized fact that
the men who are most benefited by
insurance is those who, were their
property destroyed, would be almost
if not altogether ruined The man of
wealth can afford to carry his own
insurance risks and, in fact, often does
do SO. But the man who owns a home
which represents the savings of life
time. were 1t not for the protection of
an insurance policy, would have these
earnings reduced to ashes in few
brief hours should one of the many
thousand unforeseen accidents happen
which are responsible for the annual
fire losses.
1t is the rankest sort of demagoguery
that seeks to make this class Of people
believe that the premiums paid in are
mere robberies. and men who managed
them public criminals
Thinging men know that the value
of an institution like an insurance
company, depends not upon it's ability
to pay ordinary losses, but to meet
the demands made upon it by such
disasters as that of California. The
insurance companies are proving their
ability to meet such emergencies, and
in SO doing have taken new lease
of life.
The fact that the people of the
stricken city will in a large measure
receive the money upon which to again
start in life is a decided pleasure,
and the further fact that one of the
great institutions of the country has
been tried in the fire and has proven
itself able to meet the stupendous
demands made upon 1t is still another
pleasure.