Jasper County Democrat, Volume 19, Number 104, Rensselaer, Jasper County, 28 March 1917 — MANUFACTURERS INSURE MEN BY THE THOUSANDS [ARTICLE]

MANUFACTURERS INSURE MEN BY THE THOUSANDS

Soim Polities Provide For Pavroeot ol Old Use Peostoos. GROUP PLAN FAVORED l . ■ - " .•• ‘ T!^r v " " '. . Part of General Campaign For Induar trial Betterment —Some Concerns Adopt Plan to Give Their Employees a Share In Prosperity. A striking evidence of the willingness on the part of manufacturers as a class to do something material for the benefit of their employees is to be found in the growing popularity of the group insurance plan. Industrial concerns all over the country are insuring their workers against death, sickness, accident and old age under the group system, and insurance companies are garnering in millions of dollars in premiums. This new manifestation of the employer’s concern for the members of his industrial family may not be founded entirely on altruism. If it were it would probably revolt the self respecting worker. It is better than that however; it is indisputable proof of the employer’s willingness to go more than, half the necessary distance to meet hit» employees on the/Common ground of mutual helpfulness, and thus help to wipe out any misunderstandings that may have existed between them. The group plan has had a remarkable growth since its inauguration about five years ago and has recommended itself not only to industrial concerns but to banking and mercantile establishments in all pats of the country. Many of these establishments adopted it instead of giving a bonus at Christmas time; others gave both bonuses and insurance. Policies Total Millions. During a few weeks before Christmas the Traveler’s Insurance Company wrote group insurance policies aggregating $0,000,000. Both the Traveler’s and the Equitable Life Assurance Society did a larger business in group insurance during the year 1910 because of the willingness of manufacturing and other Concerns to grant their employees a share in their prosperity. Among the manufacturing concerns insured within the past few months by the Travelers are: Bullard Machine Tool Company, Bridgeport, Conn. —$500 and upward; ' 75.0 about $500,000. Jfaybestos Company, Bridgeport, Conn. —$500 and upward; about "00 employees, totaling $200,000 of insurance. James S. Fuller, Inc., Kingston, N. Y., shirt manufacturers.—lnsurance according to length of service; 150 risks for about SIOO,OOO. Benton Harbor Malleable Foundry Co., Benton Harbor, Mich.—lnsurance on unmarried men, $500; married men, $1,000: total Insurance of $400,000 on 450 risks. Buffalo Gasoline Motor Company, Buffalo, N. Y.—loß risks for $116,000. F. E. Byers & Brothers, pump manufacturers. Ashland, O.—According to length of service; 650 risk for $325,000. Faultless Rubber Company, Ashland, O.—According to length of service; 440 risks for $220,000. Sperry Gyroscope Company, Brooklyn, N. Y.—Each man insured for one year’s salary; 750 risks for $700,000. Kellogg Toasted Corn Flakes Company, Battle Creek, Mich.—According to service; 400 risks for $250,000. L. Barth & Son, hotel fixtures. New York City.—loo risks for SIOO,OOO. Neptune Meter Company, water meters. New York City.—According to salary; 400 risks for $300,000. Michigan Lubricator Company, Detroit, Mich.—27s risks for $150,000. Adams & Westlake Company. Chicago. Ill.—According to service; 450 risks for $250,000. Frank L. Hall Company, Buffalo, N. Y.— According to service; 100 risks for $75,000.

Many Other Policies Written. Among many other industrial concerns the Equitable insured the following: William M. Crane & Co., New York. —From SSOO to $3,000. covering approximately 1.000 employed. Favorita Silk Company, Paterson, N. J.—Life insurance to all employees in amounts ranging from SSOO to SI,OOO. Garner Print Works and Bleachery.— Life insurance aggregating over $1,000,000, covering thousands of employees at the plants at Garnerville and Wappinger Falls, N. Y. Sohmer & Company, Piano Manufacturers.—Life insurance of SSOO for each employee. Other manufacturers who have adopted the group system of insurance for their employees are Montgomery Ward & Company of Chicago and Kansas City; the B. F. Goodrich Company, Akron. Ohio; the Standard Cloth Company of New York; Robert Gair Company of Brooklyn; the Studebaker Corporation., of Detroit and South Bend; Roos Brothers of San Francisco; the Union Oil Company of California and the Simmons Company, of Kenosha, WiS. The group insurance policy as offered by various companies covers death, disability, ill health and even superannuation. Each policy is arranged to suit the particular c*ae.—lnduMtrial Conservation, N. T.