Montana labor news., 1946-03-28
RACKETEERS
SACROSANT

10 YIN
fire, accident and liability insurance
companies.
When the vcnturcs OF production for
profit. stock market gambling. banking.
have been successfully ended by CAPT
talist exploitcrs, for a safe retreat they
retire the bulk Of their gains into the
business OF underwriting risks. Here.
due to a hundred years OF carefully
kept statistics, there is less risk of loss
than in any other human cndcavor.
Patrons Lose
Fools plunge at Monte Carlo. The
croupicrs' salaries arc assured. The
smallest nation in the world prospers.
the proprietors Of the House increase !
in riches, through the centuries. The
take is much smaller than the insur-
ancc companies take i'll any Ameri-
can state. These toll not. They spin;
but only %hypocritical propaganda and
fake publicity. corruption of leg'sla-
lures and pressure ON the rcactionary
weak, judicial mind.
They puff their wares as editorial
wisdom in a corrupt press. Even the
voice Of the clergy is heard at times
from the pulpit telling the parishioners
Of a sacred duty to swell the graft OF
life insurance racketccrs.
A fertile falschood Of the Old Line
companies is that they must keep a re-
serve for bad years. Mr.. Justice
Brandcis exploded that pretensc Is
years ago in his essay proving that the
life insurance reserves were the menace
to tho nation. For IS years the annual
income from premiums has far exceeded
the annual losses paid. This thriving
surplus is most conspicuous with the
Metropolitan. Fifty years ago it was
a minor underwater. 1t nov claims
assets exceeding five thousand million
dollars. But each Of Us so-callcd
Standard companies has an annual
income from premiums lar exceeding
losses paid in that year.
II a bill is introduced in any lcglsla-
ture, the national flying squadron OF
salaried lobbyists comes %hurrying to
fool the farmers.
In 1923, w. =. Pilgcram and | intro
duccd a bill that the state carry its W
insurance against fire. A majority OF
the house promised to vote Tor it. Game
fast the flying squadron. The farmers
we're easily fooled. Since then. the state
has paid nearly a million dollars Tor
fire insurance. The fire losses have
been under twenty-five thousand dollar
been under S25,ONW.
Life insurance premiums are stilI
based on a mortality rate OF unsolicited
risks in Kew York city, 81 years ago.
Since then, the average American life
has heightened by 20 years. But the lie
insurance companies adjust their pre-
miums by tho old table. The entire sys-
tenn is founded on ialschood.
And one company operating III Mon
tana puts out a fraudulent contract
with tho appreciation Of Judge Lynch
of Silver Bow county, who was al
firmcd by the Supreme Court, speaking
through Justice Chcadlc Uudgc Angst
man disscntcd).
a policy issued by the Mutual Bcne-
iii Health and Accident association
Omaha, to Jakor Alcksich, lad the fol
lowing provisions:
Indemnity for loss Of life Of the
insured is payable to the beneficiary
il surviving the insured, and other
wise to the estate Of the insured.
an the event Of accidental death,
immediate notice thereof must be
given to the Association
The Association shall have the
right and opportunity to make an
autopsy in case Of death
This policy does not cover death,
disability, or other loss sustained III
any part Of the world except the
United States Or Canada
Jakor Aleksich named Alva Alcksic
beneficiary in his written application!
Jakor was killed by a fall OF groun
in a Butte mine, dying an hour aits
tho cavc-in on him.
Alva Alcksich gave immediate notit
TO the Association. 1t informed III
that the policy provided no payment II
loss Of life. She sued, and the distri
court denied recovery, and the Supreii
Court affirmed.
Alcksich VS.. Mutual Benefit Heal
and Accident Association montana
l04 Pac. end T2.
The Chalkley Insurance company
Butte sold this policy. Jakor Aleksi'
was not alive to testify as to VIII
promises the agent made to him, but t
written words were enouh to make
lawyer like Judge Angstman believe
provided benefits for accidental dea
1t could surely make a common mir
believe he was buying lie insurance.
Why go through the pantomime
making the insured name any bcneii
airy at all: 1t was a swindlc. The poll
had stamped on it, over the signat,
Chalkley Insurncc company. beware
this is the best insurance you can bu
Our Supreme Court is still in
horse and buggy days on insuraI
law. The national judiciary has son
what overcome the din and pressure
insurance company lawyers. in spite
the American BAT associations be
dominated by such.
Surely reading the words quo
above. Jakor .Aleksich would agree "
Judge Angstman that he was buy
life insurance for .Alva Alcksich. !
rule in the federal court on interprt
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