The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1910-11-09

sessments against the smaller prop
crty interests, applying the excess tax
to large city conilagration losses Ca
lazard to which smaller communities
are not exposed), also discrimination
in favor of millionaire risks. .
The Mccormick reaper g.. works,
which probably carries $15,OCO,OO0 in
surance, with its woodworking, paint
shops, blacksmith and blast furnaces
land with the average careiessness of
many, thousand employees; is assessed
$500 per $1,000. Scars-Roehuck Co.'s
warehouse $500 per 1000. This con-
Germ carries about $I2,0OQ0O0 insur-
ance. Montgomery Ward & Co.'S
main warehouse is assessed $3.50 per
81 eco. The assessment On the Mar
shall Field warehouses on Polk street,
is $2.l0 per $1,000.
Quoting the Western Underwater
on this point: The rich, who best
gould afford tc pay legitimate rate,
have secured unreasonable conces-
sions. The small merchant and others
have paid their own fair premiums and
part of those of their rich neighbors
also"
The st. Cloud Journal-Press states,
1T is the same old Stan dard Oil meth ;
DDS q applied to fire insurance instead
of freight rates. %
The extra assessments, or increase
IN premium rates by the stock COM
panies, may be collected at any time,
But as a rule are collected on re-
ncyal Of policy, ard the increase usu-
ally continues year. after year.
Mutual company. extra assessments
are supervised by the Insurance Com
1.-lssioner and. limited: to the COM
pany's immediate, needs, not to ex-
coed one additional premium. Other
N.utual companies are not allowed to
JON IN the increase as are the Stock
companies.
Many people are now paying the
stock companies more thar douLle the
ate OF former years, which is equlla-
lent to full Mutual assessment I'd
piled every year. 1t is berMmse OF
these heavy Stock company assess
ments that NJ utual incorporates min this
state, collecting the same a;ate, are
enabled. to pay from 20 to SO per cent
annual ldividends to policys1olders and
much larger mutual dividends are paid
IN some. Eastern states, where the
Mutuals are more substantially patron
lzed and expenses thereby reduced.
MIGHT RIDERS CAMPAIGN
{. Stock company managers, assisted
by their local agents, have perverted
and prejudiced the public mind to a
marvellous degree against cooperative
insurance. These companies depend
on their local agents to sow tares in
| the Mutual field. ....-... ~. +
Anonymous circulars, with distorted
facts, have been secretly and openly
distributed, magnifying the Dangers
of Mutual Insurance" - =. y
! Is 1t not very appa1 ent that stock
company agents try to alarm the pub
lie as to the liability of Mutual policy
{holders, in order that their st0cS.hold-
ers may take the same liability and
reap the profits? Stock company
shareholders and Mutual poMylacld-
fers each have similar limited E:c:hu-
tity, except that Mutual policYEDlJer
iavoid the liability of large city con:
1f1agrations, which are the grMe.xrards
for Stock companies.
These large city co,lfagratfu have
ruined a. majority of tie StocTs com.
panies that carry such risks, while the
survivors COR bine to raise tie rate
generally, placing Unfair BURDENS or
property that is not exposed to suck
hazards.
The gain in net surplus to. the New
| Yorkz Stock fire insurance .r--.-1panies
last year was over $11W0OOO. The
net surplus gain to the other Stool
ro,nnaries in the u. S. was cve,
t$12OO0O00 in 1863. Over 100000!
Twas sent across the Atlantic last ye?1
ito the foreign companies An OBJ
lscure Russian company received near
" $4,000 last year from the United
| States after paying losses and ex
ipenses. Is It any wonder that th'
managers Of these conrnanies will tax,
long cl.ar,ces on shady efforts Z
l4oison the public 1,aiipd against Mn