Rensselaer Semi-Weekly Republican, Volume 20, Number 80, Rensselaer, Jasper County, 9 June 1899 — OME INTERESTS AGAINST FOREIGN [ARTICLE]

OME INTERESTS AGAINST FOREIGN

- ilUna Life Insurance Companies Against the Foreign Insurance Trusts. The life insurance men who represent icd are interested in Indiana companies ecently perfected an organization, which .r-.eans a fight against the outside, eomf 1 .ir.nies and the methods they have pursued in attacking the Indiana companies. The organization is in line with therecommendations made by Governor Mount in his inaugural address, in which he called attention to the great amount of money which goes out from Indiana each year for life insurance, and recommending legislation that would be a means of keeping some of the money in the State. The officers of the Indiana companies say they have now as good insurance laws as are to be found in the United States, and that since the time the laws were enacted the representatives of foreign insurance companies have waged a war on Indiana companies which has caused retaliation to be necessary. Charles F. Coffin last evening said: “The foreign Insurance companies maintain an organ here which should be called a sheet only. It is devoted mainly to attacks on Indiana companies and the Indiana law, and singles out certain companies in each issue which It attacks. The foreign companies have an organization in Indiana called the Indiana Association of Life Underwriters and we have organized to meet these methods. This organization will Include any and all reputable and solvent Indiana companies, and we will find a way to put a stop to the methods that have been followed. We have in our possession letters from agents of foreign companies which are slanderous and libelous, and it will not be hard to find a way to meet such attacks.”

THE OBJECTS SET OUT. The new organization has been incorporated under the name of the Agency for Home Life Insurance Organizations of Indiana. The objects are as follows: “The objects of this corporations snail De to act as agent for Indiana life insurance organizations, and, as such agent, to advance the interests and promote the general welfare of home life insurance organizations by every legitimate means and method, and to protect home life insurance organizations from fraudulent and unscrupulous methods adopted by foreign insurance companies and their agents in their competition with home Ute insurance organizations; as such ageni, to distribute literature for such corporations and to direct public attention to the advantages and desirability of patronizing home life insurance organizations; to protect such corporations from unscrupulous and disreputable attacks of agents of competing corporations; as such agent, to prosecute in the courts libclers and slanderers of the corporations that intrust such matters to it, and genarally, as such agent, to employ ail legitimate and legal methods to advance the interests and protect the rights of its principals.” The members of the organization are: Wilbur S. Wynn, Charles E. Dark, Chalmers Brown, James H. Beecham, Charles C. Pierce, Jr., Charles H. qrackett, William K. Beilis, Lynn B. Martindale, Samuel Quinn, Charles F. Coffin, F. J. Scholz, Charles Lauer, R. W. Mcßride, Will 11. Latta, H. G. B. Alexander, Everett Wagner, George Quimby, William R. Zuliob, Ezra F. Eaton, Chester J. McPherson, Charles Kahlo, George W. Powell, A. M. Sweeney, E. B. Martindale, E. P. Clark, M. V. McGiiliard. Augustin Boice. The home office will be at Indianapolis. MANIFESTS OF INCORPORATORS. The incorporators organized Dy eiert’P’, the following officers: President, Chalmerj Brown; vice-president, A. M. Sweeney; secretary, Charles E. Dark; treasurer, George W. Powell. Executive, legislative and printing committees have been appointed. It was decided to appeal to the home interest of the State. The members say that the attacks on Indiana companies have been sent from one end or the country to the other, and the organization has issued the following address: ADDRESS TO THE PEOPLE OF INDIANA. “It has been manifest to every one Interested in the growth and welfare of Indiana institutions and her best interests, that there has been an organized and persistent effort made to destroy and break down Indiana life Insurance organ- . izations. In pursuing these attacks no distinction has been made between the systems or plans upon which Indiana life corporations are founded and operated, their strength or the character of their administration. These efforts have emanated from the agents of those foreign life insurance companies which have, until recent years, enjoyed almost a monopoly of the business in this State. The people of Indiana have paid in the aggregate- lo foreign life insurance companies during the past ten years more than twenty millions of dollars in excess of the amount paid back in death losses. The exact figures for the year ending July 1, 1898 (according to the published reports of the Auditor of State), are: Premiums paid, $4,209,355.49; losses paid, sl,‘494,555.57; excess of premiums paid over tosses, $2,914,799.10; anil this for one year only. Is it. strange that interest saould •be from 2 to 4 per cent, lower in the money centers of the East than in Indiana, when we consider how capital has been drained out of Indiana by foreign life, insurance companies instead or being brought into the State by home companies? This enormous outgo from Indiana is to-day in danger of being cut down by the great success of Indiana life insurance organizations, hence the united opposition of the non-Indiana life agen s and their almost hysterical clamor in their efforts to traduce and villify any and every Indiana life insurance organization. “Kvory patriotic and loyal citizen of Indiana should resent with indignation these vicious and malicious attacks on the home institutions of ,their State as they would repel any other attack on its .welfare by enemies of the commonwealth. No other State has better laws for the protection of policy-holders th. n the laws now on the statute books of Indiana. Indiana organizations furn'.sa old line legal reserve Insurance, stipulated premium insurance or fraterna: insurance, and no citizen of Indiana need go outside of his own State to get as got u as the best tn any system or plan of insurance he may wish to secure. “Indiana’s life insurance corporations have insurance in force on more than i: v '.- 000 lives, and have over $160.0C0,P00 of insurance in force, a large part of wM'>h Immense business is on the lives of t..e citizens of Indiana. The interests o' these organizations are your interests: us they prosper the State prospers: as they bring money into Indiana from outside States or retain funds in Indiana that would otherwise go oi\t of the State, they enrich and bereflt the people of Indiana. They give employment to large numbers of Indiana people; they reduce the interest charged for money; they add largely to the taxable property of the State, and generally deserve the support and confidence of the people of Indiana. Attacks made on these organizations by unscrupulous and unreliable agents of companies no better in any respect, should be resented as attacks on the we’fare, nro=perity and progress of the State itself. Any friend or well wisher of any home life insurance Institution who receives by mail, or has handed to him anv letter or other document containing libelous or malicious statements against any Indiana life insurance organizations, will confer a favor by sending the same to the secretary of this association, with the nari »f the party from whom it was receive! tnd will assist tn defending and promotkin the Institutions of his own State.’*