Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-05-02
Supt. Nesbit Thinks 1t Would
Wipe Out Differences Be-
tween Business Men.
PRESIDENT H. M. WllLEH
GUEST OF Underwriters
Only Z Per Cent of Insurable Value
of Producing Lives Is Insured.
Says Mr.. Clark.

The annual banquet of the Life TN
,ierwriters' Association of the District
OF Columbia was given a, the New Will
lard Hotel last night. Hugh NJ Willett
of Atlanta. Ga. president of the Ma
tional Association of Life Tnderwr1t-
ers. was the guest of honor
Speeches were made by Mr.. Wiliett.
charles F. Nesbit. superintendent Of
insurance for the District of Columbia:
Ernest J. Clark of baltimore. former
president of the National Association
of Life Underwriters: F.. NJ. Crutchfeld
of Richmond, Va. and several other
prominent life insurance men. George
-. Jordan. president OF the District as
ISOLATION. presided and acted as TOAST
master
President Willett discussed the
growth and development OF the Life
Underwriters Association and the work
it was doing in the education OF the
general public IS to the value OF inSur-
ance and raising the standard of the
life insurance business. He spoke OF
The convention which is to be heid IN
August by the National Association OF
Life Underwriters in San Francisco
and urged as many members of the
Washington association to be present
as possible.
Advocates Single Tax.
Superintendent of Insurance Nsshit
spoke of the question of taxation IN
connection with insurance, He strong
~ advocated the adoption Of the SIN
gle tax. the tax based entirely upon
real estate, as a remedy for all exist.
ing evils in taxation He SAID that II
the insurance companies and the bene-
f1ciaries under insurance wish to have
insurance relieved of taxation, they
must find a substitute to bear the taxa
ton.
..The general public, the merchants
and other business men who have prop
erty," said Mr.. Nesbit, cannot always
see the justice in placing tax upon
their property and eXempting from tax
alton the billions of dollars in life in
surance. But if a single tax upon real
estate should be adopted it would wipe
out all differences in regard to this
matter
The opportunities and the response
bilities of the life underwriters was the
subject of the speech of Mr.. Clark. He
said that only per cent of the IN
surable value of the producing lives in
the United States is insured today.
yet So per cent of the tangible prop
erty owned in the United States is in
sured against destruction, said Mr..
Clark. He asserted that within seventy
years all the economic value of the in
through death. but that there was only
r remote chance that tangible property
would be destroyed
Public Uneducated
The trouble, said Mr.. Clark. lay in
the fact that the general public had
not been educated in regard to the
value of life insurance The National
Association of Life Underwriters. how
ever. is doing a great educational work
in this country year after year and
thousands of men are learning the real
value of insurance. Discussing the re-
sponsibilities of the life underwriters.
Mr.. Clark said that the insurance agent
should at all times realize that he
must safeguard the interests of his
clients and his clients beneficfaries by
advising them honestly and correctly
in regard to the kind of insurance that
they should have. The insurance agent,
he said. must subordinate his own in
terests to the interests of clients And
re added that in the end such u course
would benefit the agent
The officers of the District associa-
ton are George {. Jordan. president;
Oryille E. Drown. vice president, and
eugene G. Adams. secretary-treasurer
Present at Banquet.
The list of those present is as fol-
lovs:
Hugh NJ. Willett of Atlanta, Ca,
.harles f. Nesbit. E. u. Crutchffeld of
Richmond. Max Cohen. George c. Jordan,
DrviIle B. Drown. Eugene G. Adams. John
Dolph. Ernest J. Clark of Baltimore,
Clement w. Huske. H. F. Huske,
Philip R. Carlton. G. W. Griftiths.
Lewellyn NJ. stabler. Walter H. Klop-
fer. Gust G. Reiniger. George S. VAIN
wright. Leopold V. Freudberg. E. s.
Brashears. D. Fulton Harris, Bert V.
Wolfe. Albert Stabler. James Lee Bost,
George NJ. Fullwood. Holcombe G.
Johnson. W. 3. Cronkhite. Ira Artman,
". C. Worthington. John NJ. Cherry. c.
+. Tittman. L. A. Albert. P. L. Rogers.
DIR. d. G. Davis. W. NJ. Doran. Asher
Ayres. V. F. Bourne. ]. D. Clark, W. H.
<. Depue. E w. HUI. A. Lipsconno, F,
W Noise. Tyler Nordlinger, c.
.. Tuchton. Norman p. Foster.
Timothy Cannon, NJ A. Skinner. A. NJ.
Handy. H. A Morris, Charles NJ.
Wright. Robert NJ. Ryce, W. A. Wilson,
I. n. Riggles, 8. p. Ficklen. T. w. Lee,
lanes ". Tinsley. 1r.: William Mont
.omery, S. L. Putnam, Beverly Lake. F.
J. Waight. Philip Magruder. H. F.
Vim. Bruce E. Clarke, H. Guy Living
ston, J. E. Troth. Roger NJ Stuart. J.
tewton Brewer. Dr.. Sta ADLER. A. /. Stras-
rurger.