Jasper County Democrat, Volume 11, Number 52, Rensselaer, Jasper County, 2 December 1908 — SAVINGS BANK INSURANCE. [ARTICLE]

SAVINGS BANK INSURANCE.

M. C. Thornton to Introduce Bill for Such State Institution. Indianapolis, Ind., Nov. 20.—M. C. Thqynton, of New Albany, who will represent Floyd county in the next House of Representatives, was In the city today, and was talking the State savings bank plan of Insurance among his friends. Mr. Thornton will introduce in the next Legislature ■ a bill providing for a State savings bank. It probably will be modeled after the Massachusetts law. Mr. Thornton has a great savings bank literature from Massachusetts which he will present In support of his measure.

“Thousands of dollars,*’ he said, “go out of this State each year to industrial insurance companies which charge about four times the premiums they should charge. The State savings bank is an institution where the poor man may deposit his earnings with the knowlege that the money is not to be dissipated in high salaries or wasted through methods of graft” Employers of labor are becoming greatly interested in the plan in Massachusetts, Mr. Thornton says, and are doing agency work for the savings bank department. This agency work is without cost to the policy holder. iMr. Thornton ih M in the insurance business at New Albany.