The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1912-07-10
Seattle, July 5, 191.
Yakima Morning Herald.
North Yakima. WASHINGTON.

Yakima Morning Herald,
North Yakima, Washington.
Gentlemen.
My attention has been called to
letter appearing in your issue of July
End, signed Charles Il. Cutter, and
headed "Fraternal Insurance." l have
no desire to enter into any contro-
versy with Mr.. Cutter or any other
person. but wish to correct hts state
ments so far as the Pacific Jurisdic-
ton, WoodmeS of the World Is con-
cerned.
Mr.. Cutter, in referring to the new
Mobile law, states that said law re-
!quires Fraternal insurance companies
to make their rates adequate by De-
cember. Stst, 1917, and goes on to
say, The new law provides that by
the date mentioned all such societies
shall bring up the valuation of their
certificates by raising the value of fu-
| ture net contributions together with
the admitted assets to within ninety
per cent of the value of the promised
benefits and accrued liabilities" All
lof which Is correct, but ! strenuously
object to the conclusion of his note to
the editor where he adds, "As no fra
ternal insurance society can do this
under the old rates of assessment. an
increase must be made by ALL" You
will see Mr.. Cutter makes no excep-
ton, which is absolutely an injustice
and misleading so fa- as the w. O.
w. Is concerned. and have only to
say, so far as he is concerned, he
ought to look up the standing OF va
rious fraternal societies before he uses
the word "all."
| Now, Mr. Editor, you might think
me unduly concerned in regard to
Mr.. Cutters letter, but am sure you
Will not think SO when / tell you our
order the w. o. W., has over three
hundred members in North yakima,
also h large number in the surround
ling stowns where your paper is read.
and unless wescontradiot Mr.. Cutters
Statements, our membership might
consider true. Yaps3gs4 itt9et atN8,f
! THE We o. w. did not wait until
the various. states PASSED laws COM
polling fraternal, societies doing bus
mess in such states to adopt adequate
rates, but did so of our own accord
January. 1903, nine and half years
lied that if we wished to able to pay
the promised benefits to benefciaries
of our members, we would have to
collect more money from our mem
bers than we were receiving up 20
that time, and believing in the old
saying "A stitch in time saves nine"
we took the stitch I'm time" and
have also collected regularly from
our membership twelve assessments
per year, whether we needed the
money or not, and-i in addition to this
We began to create a reserve fund
for thirteen years. We have now over
five million dollars belonging to the
membership Of our nine Pacific states
invested in high class bonds, and we
are, glad at any time to give q, list
Of these fbondatto any person for their
Iinspec ton, -, - 800.
| Our sovereign Jurisdiction east OF
1.-THE Rocky Mountains has FIVE hun
dred and seventy-five thousand men,
bers and fifteen million dollars re-
serve and surplus. making our total
reserve and surplus in the u. s. A. at
the present time over twenty million
ldollars. Our order has one million
two hundred thousand dollars in
vested in bonds in various parts OF
Oregon, also seven hundred and fifty
thousand invested in bonds In various
parts of Washington.
| Suffice it to say. we are not
contemplating any change of rates.
and will not have to change our rates
| in order to comply with the Mobile
law One of the best reasons why we
will not have to do so Is that we have
over twenty million surplus. We arc
glad to refer any person to J. II.
Shively, State Insurance Commission
err, for his official opinion.
| herewith quote recent statement
made by Mr.. Shively at Bellingham.
| Washington, juno 6th.
when am asked to give q report
on any society, l am compelled to give
such report according to what an ex-
animation of the reports of such So
ciety to myself as State Insurance
Commissioner discloses. / must give
the records from an unprejudiced
standpoint as the servant OF the peo-
pie of my state, and accordingly /
must say from an examination OF
report of the Pacific Jurisdiction w.
o. W. verified by the State Insurance.
Commissioner of the State of Colo
RADIO. that said report shows that the
Pacific Jurisdiction w. 0. w. is alb
solutely safe, and l am unhestating
in saying it's present financial conii-
ton will enable 1t to meet every re-
quirement of this Mobile law"
Respectfully yours,
ID Il REAEEv