The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-11-24
News Of the Insurance World

today, leaving the future TO take care
OF itself, the membership apparently
being satisfied. so long as present
claims were being met; but littlTby
little, the obscuring clouds of doubt
and uncertainty have been lifted and
scientific, mathematical truth. from
which there is no escape. has been re-
vealed. with the result that this great
est system of home protection that
the brain OF man has yet been able
10 devise. has been steadily advanc-
ing until today a number OF societies.
OF which the Pacific jurisdiction.
foremost, are rapidly approaching the
high standard OF absolute solvency.
and TO me there could come no great
er satisfaction than the knowledge
that the members of this society
have always been ready and willing
to do whatever has been found neces-
sary to strengthen the society and
venture of a doubt, the protection
promised your loved ones and mine
At every head camp session changes
In the governing laws have been
made, not by the head officers. but
by the delegates whom the members
have chosen to represent them In our
law making body and while 1t Is
true that objection has been made by
someone TO every important change.
II must nevertheless be admitted that
every change thus far has been along
constructive and not destructive
lines; from a temporary to n perma-
to nearly $4,000. 900 in reserve and
surplus: from a small membership to
great army of nearly 114000; from
current cost TO scientific certainty,
The controlling majority with It's
forward" banner going steadily on
until today the Pacific Jurisdiction,
Woodmen Of the World, Is admitted
TO be without a reer as a fraternal
home protector. The monument
lGnpflt tn0nght a IA
profitable feature (and perhaps 1t
was) has In these later years been
found to be most improbable and
instead OF the trifing obligation Of a
few hundred dollars twenty years
ago. we find today an accumulated
debt OF s1l, 400. 600 charged on the rec
ords Of this society against the pres
ent membership and for the payment
been made, for, strange as II may
seem. the 500 monument expense
has never been included in any of our
assessment tables, except the 5000
session, three years ago These mon
uments are costing an average Of st0.-
coo month, at the present time. or
Sl20.00o per year. or one full assess
available for death claims as they
occur, leaving that great problem. fu-
ture solvency, In a measure. unan-
e
now, a large per cent of our members
failed co recognize the fact that every
twelve months our membership is q
year older, and unless there has been
a very large accession OF young new
members the average age increases
a accordingly, and as the average age
increases. the death rate increases,
and II the increase on the one hand
is to be met promptly. 1t naturally
follows that there must be an In
crease in the rate Of contribution.
Personally, I am Of the opinion that
our present table Of rs tes. by elimi-
mating the monument expense and
continuing the equalization payment
would be found sufficient to meet ali
mortuary requirements. but as al
ready indicated. the states, In their
sovereign right. have seen tit to dis
agree with us In this particular and
have set up their own standa I'd, by
which every society will be mea sured
whether the members like It or not
The law provides that all outstand-
ing business shall be Valued" COM
mencing as of December 81, 1912. and
every three years thereafter That
Such valuations shall be certified by
a competent accountant or actuary"
and further, that Each such valua-
lion report shall set forth clearly and
fully the mortality and interest basis
and the method OF valuation" That
the state laws are exacting in their
I feel that this society is indeed for
tunate In Its present enviable posi-
ton. and with proper management
have no hesltancy In predicting that
II will be the first to qualify under
the most rigid state auperyision