Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1912-11-27

to equity, the SITUATION Is InaI the Olu-
er members have contributed no part
of the surplus now in the hands or
the society. This represents part, OF
the excess contributions of the young
er members. The payment of death
losses among members of their re-
spective ages has consumed all the
older members have contributed to
the benefit fund and more.
II what the older members have
done to build up the society has ere
ated a fraternal obligation, the soci-
ETY. has sought to discharge it by max
ing to them the most liberal conces-
sions consistent with its own safety.
II proposes to load" rates for young
er members in order that it may carry
the older members at rates which viii
create a deficiency of s22,500,000 in
their contributions if their certifi-
Gates mature according to the Mod
ern Woodmen mortality table.
No member. young or old, will be
frozen out" No member need con-
tribute a dollar TO the reserve fund
unless he chooses to do so. He may
take the step-rate, which is the cur
rent cost rate. Under this plan, his
rate up to age SO will be lower than
| the rate for his present age under the
old plan. Or he may take term insur-
ance to age so, so or 20, for from A
to 70 per cent of the whole life level
rate. Term insurance was all he had
/ in fact under the old plan, which
meant that the society would run
along for an indefinite term. but ulti-
mately would be swamped by its Ii
abilities in excess of contributions.
/ The step rate for the member 81
| years old is $1.o5 per month. The
whole life level rate for the member
! 81 years of age or over is SO month.
If he chooses he may pay 81 in cash
and have 81 charged against his GER
tificate. So no member who is quite
candid with himself will say that the
society has frozen him out by offering
him no plan his circumstances will en-
able him to accept.
Some profess not to understand how
the member who has paid all that has
!
and has matured no claim, can be said
to have created a deficiency. This
might be illustrated by citing the case
of a mutual fire insurance association.
If this association insures farm dwell
ings and lumber yards, and If the
lumber yard fires cause losses in ex-
cess of contributions from the lumber
Got &c
lumbermen as a class have not paid
the cost of their protection TO the as
sociation, though not all the lumber
men have had fires. If the association
should now propose to raise the rate
or lumber until it approximated the
cost of the protection, and the lum-
bermen should object that they were
being unfairly treated and frozen
out" they would occupy a position
corresponding to that of the Modern
Woodman who objects to the present
readjustment of rates.
This comparison is imperfect. 1t is
not certain that the complaining lum
herman will ever have fire, but it is
certain that every certificate issued by
, the Modern Woodmen society will be
, matured by death unless the member
lapses. It. is therefore the society
|, most imperative obligation to make
provision for meeting these claims as
they mature, and it can meet them on
ly through contributions to the bene
fit fund by the members and interes
Accommodations on this fund. The mem
Der who Joined 20 years ago is 20 year
nearer death than he was at entry age
and if the society should blink thi
fact it would merely deprive Itself o
the power 10 meet its just obligations
WORK OF CONSERVATION.
Several years ago, when several dis
tinguished republicans were in com
petition for the speakership of the ma
tional house of representatives, tn
late Senator Allison was asked whicl
of them he considered the best equiI
ped for that responsible and tryin
station. He named his faVorite. Aske
why he considered the latter bette
equipped than others of mature expel
fence, he answered: Because he
e the best tempered"
D. For the reason that insurance is
e subject little understood, the Moder
y WOodmen of America is now passin
through a crisis. II is fortunate thu
= in this emergency its affairs are in tn
le hands of an executive council compo
- ed of well-poised and capable men.
- OF course, these men are not indi
Al ferent to the doubt and the misrepr'
10 sentation of their motives which hs
- attended the efforts of certain dissen
A ers to defeat the action of the Chicag
n head camp, composed of delegates re
n resenting the membership of the S
2 ciety. Men of proper sensibility ca
y. not be indifferent to such a situation
n. They must feel it, keenly. But this hi
". availed to destroy their generosity NJ
a+ their sanity Through it all they hay
~ kept sweet, ever bearing in mind the
n. tremendous responsibility and the &c
or tainty OF their future complete al
glorious vindication. This is as &c
tain as that the stars will continue
l., their courses and that the law of me
:. tally viii continue to operate, no