The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-09-01

ance Institutions. and never was the
need for comprehensive and standard
work of reference on insurance 10
strongly felt as at the present time.
For Illustration: II one We're to ask so
simple question as to why the Mas
sachusetts Hospital Life Insurance
Company was so called, when 1t was
organized. by whom and for what pur-
pose, what amount of business was
transacted. upon what basis 1t was or
ganized, by whom and for what pur-
pose. what amount of business was
tranfacted. upon what basis the prem
ium charges were calculated, and what
the actual charges We're for different
forms of insurance, why the company
ceased to transact business, what has
finally become of the funds accumu-
lated and what results were obtained
by the insured, the answer could be
secured only by very considerable
amount of research through all the
volumes of the Massachusetts inSur-
ance reports. through hundreds of
volumes of insurance periodicals, and
even then the answer would be less
satisfactory than a precise statement
Of the salient facts such as will be
found in the International Insurance
Encyclopedia. What is true in this
case Is equally true in hundreds of
others, and the immense amount of
valuable information. instructive and
suggestive to the students of insur-
ance science. and more or less deter
mining to the statesman, is lost or
unavailable at the present time.
The biographical department viii In
clude at least brief mention of every
important name in insurance history.
thus making the encyclopedia 2 com
nj of nYlr of ayor In nj
who in the past and present. in. one
capacity or another have been promi-
nently identified with the business of
insurance. Much valuable material has
been permitted to go to waste, or lies
buried in nusty volumes inaccessible
to all but the privileged few.
From the great fire of Lo"Aon in
1866 to that of San francisco 1906
there is lapse of 240 years in time.
The first of these fires really started
the business of fire underwriting in
earnest, while the second witnessed It's
greatest test and its great triumphs.
Between these dates lies an immense
amount OF history and practical ex-
perience of great value to the science
OF fire insurance. but the books in
which it Is contained are scattered all
over the world. practically unavail-
able to the present-day underwater
Mere human interest on tho part of
those engaged In the business would
be sufficient to make all underwriters
welcome the gathering of the best
thought and practice Q these years
| concerning their business In the con-
ventent form proposed for this ency-
| clopedia:s but when we consider the
practical value Of such collection the
work becomes Indispensable.
Recent events have re-emphasized
| the lesson of past experience. that
only In proportion as insurance is
recognized as a science will the man
ngement successfully meet the most
severe test Of an unforeseen combina-
| tion of circumstances. Ignorance of the
| fact is primarily the cause of much i'll
advised legislation and OF much mis-
carriage of effort. promoted without
| evil intention. The time has come for
more scientific development OF the
business In all It's branches and for, n
more complete adaptation OF sinsurance
| principles to the existing needs Of
social and commercial life. To meet
| these needs OF the business a great
reference work IS required, and moth
| ing will be left undone to entitle the
International Insurance Encyclopedia
to the confidence and respect OF all
competent to Judge Of Its merits.
| Chiefly, however. It Is to the insur-
ance companies that the enterprise ap-
pcnls for support and hearty co-opera-
ton, as we'll as to the large army
of managers and agents, Office em-
ployes and experts. who, In some ca
| pacity or other are advancing the In
terests OF insurance throughout the
world. The organization Of the Inter-
national Insurance Encyclopedia Is
complete, and the preliminary work Is
\ finished.