The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-09-13

p.
eress and the state insurance commits
sioners, is a matter of vital importance
at present TO two orders which have
large memberships in the copper coun-
try.
The great camp Of the Knights OF
the Modern Maccabees Is now i'm ses-
sion at Port Huron and there is lit
tie doubt that an adequate set of rates
will be prepared and placed in effect
in this state. Although so far there
has been no legislation in Michigan on
the question of fraternal insurance
rates, laws covering this situation were
suggested at the last session OF the
legislature and it is recognized that
they would be for the good of the order
at large.
In his address at the convention In
Port Huron yesterday. Great Comman-
der George s. Lovelace sounded the
keynote of the situation, His remarks
in part were as follows:
although we have called an assess
ment every month during the year
1911, INC tllllpuINS ~ ANN'iNNh nav
been insufficient to discharge the death
losses and other obligations accruing
during the same space of time, and 1t
will be necessary In the very near flu
ture to levy additional assessments, or
double headers. with all their attend
ant evils. During the present year to
the first day OF September the receipts
i'm Glass l have amounted to the sum
Of $940,34S.26. The gross amount of
incurred death losses during the same
length Of time has amounted TO S9O4,-
600. OF these losses $44,10S.33 had pre-
lviously been discharged i'm old age and
disability claims, leaving the net
amount of losses from the assessments
of the current year 1858, S91.67. During
the same length of time, there have
been accrued additional old age and
disability losses amounting TO $110,-
1884, or a total of incurred liabilities
during the eight months of s970,040.01,
or net deficiency of this years con-
tributions of $29,691.75. which amount
has been paid from the accumulated
funds of the society.
"The theory upon which this society
was founded is wrong. Experience
has so proven it. We do not have TO
consult men learned in insurance mat
ters nor the experience of other So
cieties. Our own records show conclu-
sively that no society can exist in
definitely upon current cost basis,
nor upon a basis which collects less
than the present and future cost of the
protection promised its members.
There must inevitably come a time
when the massing OF members in the
advanced ages of life. produces so
heavy a death rate that the cost be-
comes more than II would upon level
rate. This society made no provision
for the future. II collected from its
members each year only sufficient to
discharge the obligations incurred that
year. though each year added another
to the lives of it's members, and
brought them that much nearer "a
death. with every recurring year, our
obligations were that much nearer to
maturing. and no provision made foI
their discharge. and consequently the
cost of carrying protection increased
from year TO year. The history of this
society has been parallel to that of all
lother societies of a like nature. In its
early days, it's members were young
its death rate small; enthusiasm
growth and progress were it's key
Irotes. AS the years silently passed
the men who We're young became old
1.-THE number of assessments increased
land with such increase came lassitude
Indifference lapsation. Every increase
lin the number of assessments made IL
more difficult to secure new business.
and increased lapsation. This society
Preached its high point under its old
Icurrent cost plan, in 1904, at which
thine 1t had 125,6S0 members. During
the next term, although it wrote a
large amount of new business and nc
other class of insurance was written
lexcept that i'm Glass /. it lost more
than 10000 members. and has contin-
ued to lose members from that time
on, until on the LIST day of January last
It had but little more than $4,000 men,
bers i'm Class 1. Had this society in 1905
lplaced itself upon adequate rates, II
would not have lost as many mem
lbers by the operation as have grad
lually slipped away from 1t, its young
er and more vigorous material during
1.-The past seven years"
The members of the Modern Wood
men of America are also deeply inter
ested in the question of rate revision
land the matter is being freely dis
cussed in the monthly publication OF
1.-THE order. many opinions having beer
Expressed as to the proper course to
follow. These recommendation viii
lbe considered at big convention &c
be held In Chicago on Tuesday, jan
luary 80. The Houghton county camps
will be represented by Mr.. Krellwit'
of Houghton.
Owls Plan Activities.
The regular weekly meeting of the
recently organized Laurium nest OF
lOwls will be held on Friday evening
land several candidates viii be initial
ed. 1t is likely that series Of socia
sessions will be arranged for during
|