State Ledger

BUSINESS MEN'S IDEA OF FIRE INSURANCE Common Errors Concerning Its Relation to the Public Brought Out by the Investigation of Prominent Men in Commercial Life. The recent annual report issued by the Insurance Commissioner of Michigan and the veto of the valued policy law passed by the Legislature of Iowa, by Governor Shaw of that state, have called public attention to the fact that there has been a widespread misunderstanding as to the true relations of fire insurance to public interests. Of late property owners, aroused by these statements from two eminent state officials, have been giving some thought to the subject, and the conclusions reached are that owing to a mis conception of the functions and practices of fire insurance companies, as well as to the prejudice fostered by professional politicians who play on the passions of the public, the people have been standing in their own light. As fire insurance premiums are a necessary part of the expense of every sensible business man and householder, it is but natural that the public should desire this item to be as low as possible, and that a fire insurance company should give a fair and equit- Recent investigations and study on the part of several men who pay large sums for indemnity owing to their extensive interests, have shown that the public is taking an entirely erroneous course in attempting to secure lower rates regardless of all other considerations, and that every law intended to compel rate reductions has in effect caused higher rates. The public mind looks upon a fire insurance company as a corporation, isolated entirely from any human interest, whose sole desire is to get as much money as possible with little trouble. The vital relationship between fire insurance companies and every form of business life is unrecognized, as is its capability to credit and commerce. Property to the amount of $150,000,000 is tentially destroyed in the United States every year. If this fell entirely on the losers it would cause business paralysis in hundreds of communities, large plants and small enterprises would be swept away, and the accumulations and work of a lifetime would be reduced to ashes. This calamity without any means of return would affect every person dependent upon or having deals with these various concerns. The business man having all or a large part of his means invested in his daily interests could obtain but little credit without his fire insurance policy, his operations would be hammered, and if his property were destroyed by fire he would in ninety-nine cases out of a hundred be bankrupt and unable to recover his loss. It is to prevent disaster of this kind that the fire insurance tax is collected. A heavy loss would cripple one man, but if properly apportioned all over the country the loser can regain his set and continue. Each property owner has his share into the fund, and it is distributed where losses occur. This interdependence of human life is nohere so nicely exemplified. Fire insurance companies were created to assess, collect and distribute this fire insurance tax. It is a system indirect taxation, necessary for the successful conduct of business, and because the tax gathering is done by competing institutions, and is not a government work, false ideas as to profits on part of the companies have been widespread. For a period of ten years (1890-1900) e companies have only made an average underwriting profit of thirty-six middles of 1 per cent. During 1898 Even the girl who complains that he has nothing to wear can still put mails. Parcell's Superstition: Farnell had some pet superstitions, according to his biographer, Barry Brien. "He would not pass another person on the stairs. He was horror-ticken to find himself sitting with free lighted candles; the fall of a picture in the room made him dejected for the entire afternoon, and he would have nothing to do with an important ill drawn up by a colleague because it happened to contain thirteen clauses. He also thought green a most unlucky color—a strange and inconvenient feeling for a Nationalist leader—and the right of green banners at the political meetings he addressed often unnerved me." May Come to Pass From Harlem Life: Immigrant Inspector—We have information that we come over here on contract. Lord Armand (indignantly) — Aw-what-er-ely, you wude, impudent fellah! I owe him here to marry Miss Aniina Goldust of New York. Immigrant Inspector (triumphantly) —Well, that's the matter with yer; ain't marrage the hardest kind of contract? we'll have to go back. Is a Lesson in Law. one day, when the late Judge Pinney of Wisconsin was a member of the supreme court of that state, a young lawyer who was arguing his first case began as follows: "Ancient his history teaches us—" The judge, looking up from the printed brief, remarked, "Young man, just pass over the ancient and medieval periods and be with the modern era." The young lawyer was put out for the nonce, but learned a lesson which has stood him in good stead ever since.—Philadelphia Record. they lost $1½ per cent; in 1899, they lost 13 7-10th per cent. Nearly $100,000,000 of cash assets have been year by year kept as a guarantee by the companies for the protection of their policy holders. It might be largely swept away by conflagration. The risk has been great, and yet taking every hazard into consideration, the average earnings from underwriting of American companies on their assets at risk have been less than $3½ per cent. Banks during the same period have earned 8 per cent. It will be seen, therefore, that the fire insurance companies have been earning but a small profit for the risk assumed in the investment. That the risk is great is shown by the fact that during the last quarter of a century over 1,200 American fire insurance companies have failed or retired, and out of the survivors, only 32 organized during the same period are still in business. Recognizing, then, that the companies have not been bleeding the public, policy holders who have been observing the trend of affairs see that anti-compact laws, valued policy laws and all legislation of such a nature, invariably cause higher rates because of the additional hazard, loss and expense to companies which has to be collected from the public. Statistics show that from 1892 rates in the United States steadily declined, while in the anti-compact law states, they continued to increase, and not until 1897 did they reach a lower percentage than in 1893. The average rate from 1893 to 1898 was $1.11 per $100 in the United States, eleven cents lower than in 1893. In states having an anti-compact law the average rate during the same period was $1.27, or one cent lower than in 1893. Laws prohibiting companies to associate together to maintain fair rates have utterly failed to reduce them. After such laws are enacted, no company with business principles will write policies at ruinous rates. The old rates, therefore, prevail. If companies were allowed to associate together and compare their experiences in these states, the figures might show that rates could be decreased. They cannot reduce them because they are forbidden by law to act in concert. Valued policy laws which require companies to pay the face of the policy in case of a total loss, whether the property burned is worth that amount or not, have increased the amount of fire waste and caused higher rates, because the greater loss requires just that much more fire insurance tax. When a fire company issues a policy of $10,000, for example, it does not agree to pay that amount in case of a loss, but it does give the policy holder the privilege of protection up to that amount. If he has that much value and it is destroyed, he is entitled to that amount of insurance. To compel companies, therefore, to pay the face of a policy, regardless of the value of the property destroyed, is an incentive to crime. When a man through misrepresentation secures $10,000 insurance on $5,000 worth of goods, the valued policy law compels the companies to pay, not the value of the property destroyed, but the amount named in their policies as the limit of their liability. The only persons who can possibly be benefited by such laws are those who carry insurance beyond the value of their property. Rates have to be increased where valued policy laws prevail to cover increased fire waste, in fact, it may be stated as an axiom that any law that increases the expense of fire insurance, or tends to increase the fire waste of this country, causes a corresponding increase in the cost of fire indemnity, which must be paid by people who need it. When you can drop a nickel into a phonagraph talk must be cheap indeed. Small Valuation: "Do you regard Silas Woodruff as one of the important people in Canby?" asked a summer visitor, referring to a member of the state legislature whose home was in the little town. "I hear he can talk up to the folks on politics," answered the Canby farmer to whom the question had been addressed, "so I reckon he's some use to the state, mebby; but in Canby we don't count him of any more value than a couple of rods of side hill." Youth's Companion. Hard to Take. "Jim, the loss of that $5 is like a barbed-wire fence." "How's that?" "Hard to get over."—Boston Commercial Bulletin. Church Divorce Laws. The lower house of the convocation of the church of England has passed a resolution declaring that the law of the church does not recognize divorce, and asking the bishops to devote themselves to securing action of parliament to the end that the church shall not marry divorced persons. Asior's Bargain. In 1803 John Jacob Astor bought two pieces of farm land on the side of New York city and paid for them $23,000. They are now worth about $5,000,000, while the Astor family has collected in these 95 years some $10,-000,000 of rents from them. One of Them. "My daughter," said the father, "has always been accustomed to all the luxuries of wealth." "Yees," replied the count, bristling up, "at zat ees what I am."-Philadelphia North American. Difficult to Stop. Experiments seem to show that a large ocean steamer, going at nineteen knots an hour, will move a distance of two miles after its engines are stopped and reversed, and no authority gives less than a mile to a mile and a half, as the required space to stop its progress. The violent collisions in some cases during fogs may thus be accounted for. Sandwich Men. The walking advertisement known as a "sandwich man" is by no means a modern idea. In 1346 a procession of men dressed to represent straw-covered wine bottles used to parade the streets of Florence, Italy, being hired by the wine merchants there. HEALTHY WOMEN. Mary J. Kennedy, manager of Armour & Co.'s Exhibit, at the Trans-Mississippi Exposition at Omaha, Neb. writes the following, as a Peruan, in Peruana, as a cure for that common phase of summer oatarrh, known as indigestion. Miss Kennedy says: [Illustration of a woman with a dark hair and a light-colored dress, set against an ornate decorative border with intricate patterns.] "I found the conti nual change of diet incidental to eight years' traveling completely upset my digestive system. In consulting several physician they decided I suffered with catarrh of the stomach. "Their prescriptions did not seem to help me any, so reading of the remarkable cures effected by the use of Peruna I decided toot it and soon found my- self well repaid. "I have now used Peruna for about three months and feel completely rejuvenated. I believe I am permanently cured, and do not hesitate to give unstinted praise to your great remedy, Peruna." The causes of summer catarrh are first, chronic catarrh; second, derangements of the stomach and liver; third, impure blood. Such being the case anyone who knows anything whatever about the operations of Peruna can understand why this remedy is a permanent cure for summer catarrh. It eradicates chronic catarrh from the system, invigorates the stomach and liver, cleanses the blood of all impurities, and therefore permanently cures by removing the cause—a host of maladies peculiar to hot weather. The cause being removed the symptoms disappear of themselves. "Summer Catarrh" sent free to any address by The Peruna Medicine Co., Columbus, Ohio. The flustered bride usually has all sorts of presence except presence of mind. Eat What You Like. When you take Morley's Liver and Kidney Cordial, for then, dyspepsia, indigestion heartburn, foul breath, dizziness, and the long train of similar troubles will disappear and your cleaned and awakened system will demand food. Sound digestion and sound appetite go together, and both follow the use of this time-tried remedy. Sold by agent in every town. If there were no fools in the world wisdom would be at a discount. We call the attention of our readers to the advertisement of Notre Dame University, one of the great educational institutions of the West, which appears in another column of this paper. Those of our readers who may have occasion to look up a college for their sons during the coming year would do well to correspond with the president, who will send them a catalogue free of charge, as well as all particulars regarding terms, courses of studies, etc. There is a thorough preparatory school in connection with the university, in which students of all grades will have every opportunity of preparing themselves for higher studies. The Commercial Course, intended for young men preparing for business, may be finished in one or two years according to the ability of the student. St. Edward's Hall, for boys under thirteen, is an unique department of the institution. The higher courses are thorough in every respect, and students will find every opportunity of perfecting themselves in any line of work they may choose to select. Thoroughness in class work, exactness in the care of students, and devotion to the best interests of all, are the distinguishing characteristics of Notre Dame University. Fifty-six years of active work in the cause of education have made this institution famous all over the country. The more grass a man has on his lawn the mower he wants. SEND 47 cts. New Plances & Common best grade at half price. COMMON SERVICE VIOLIN A new editor having taken charge of the Gallatin North Missouri, the following apologetic notice appears in the first issue published under his management: "Attention has been called to one blemish upon our record, and of a term in the Missouri legislature, but we can offer as an extenating circumstance the fact that when an attempt was made to give us another term we were acquitted by a very large majority." Proof Against Wasp-Stings. Mr. Murray, a Scottish naturalist, in a recent paper on the habits of wasps, tells how a blackbird will stand at the side of a hanging wasps' nest and deliberately tear it in pieces, in order to get at the larvae, apparently undisturbed by the swarm of angry insects, whose vicious stings instantly put to flight the human curiosity seeker who ventures near to watch the demolition. Supreme Court Sustains the Foot-Ease Trade-Mark. Justice Laughlin, in Supreme Court, Buffalo, has ordered a permanent injunction, with costs, and a full accounting of sales, to issue against Paul B. Hudson, the manufacturer of the foot powder, and the manufacturer of the foot powder, also against a retail dealer of Brooklyn, restraining them from making or selling the Dr. Clark's Foot Powder, which is declared, in the decision of the Court, an limitation, and infringement of "Foot-Ease" and the right to wear shoes for tired, aching feet, now so largely advertised and sold all over the country. Allen S. Olmsted, of Le Roy, N.Y., is the owner of the trade-mark "Foot-Ease, and he is the owner of a foot powder extender over the country. He will send a sample Free to any one who writes him for it. The decision in this case upholds his trade-mark and renders all parties liable for the loss of the foot powder it by the extensive "Foot-Ease" advertising, in placing upon the market a spurious and similar appearing preparation, labeled and put up in envelopes and boxes like Foot-Ease. Similar suits are filed against who are now infringing on the Foot-Ease trademark and common law rights. The humble author has one advantage over a king—he can choose his own subjects. WANTED—Lady canvassers to introduce new, catchy article. Can make 48 a day. Write at once. Don't miss it. OSCAR WILKINSON 30 E. 14th St., New York City. About the only kind of hoods used in summer are false-hoods. Did You Ever Run Across an old letter—ink all faded out? Couldn't have been Carter's Ink for it doesn't fade. If you want advice consult a disinterested party. To Cure Danduff Quickly To Cure Dandruff Quickly use Coke Dandruff Cure. Money refunded if it fails, so why not try it! Love is too often measured by a tape line bearing dollar marks. NOTICE--Two traveling elemen wanted in each state. Salary and expenses: experience not necessary. Address Pochoshtin Tobacco Works, Bedford City, Virginia. Love is often a hurdle race over Cupid's obstacles. FITS Permanently Cured. Notifies or nervousness after visit of Dr. Kline's G. cat Nerve Restorer. Send for FRIEND 1000 ILL bottle and treat. Dr. R. H. KLINE, Ltd., 931 Arch St., Philadelphia, PA. Heated arguments over the best way to keep cool are in order. Read the Advertisements You will enjoy this publication much better if you will get in the habit of reading the advertisements; they will afford a most interesting study and some excellent bargains. Our advertisers are reliable and send what they advertise. An old bachelor says that time is the only cure for lovesickness. I do not believe Piso's Cure for Consumption has an equal for coughs and colds—JOHN F Boyer, Trinity Springs, Ind., Feb. 15, 1900. A true man would as soon be knocked down as pitied. Mrs. Winslow's Soothing Syrup. For children teething, softens the gums, reduces in familation, allays pain, cures wind colic. 2Sc a bottle A high temperature will give most of us a high temper. Hall's Catarrh Cure Wise men may acquire much knowledge from those who have none them selves. Write to Dr. C. J. Moffett, St. Louis, Mo., for his valuable little TEETHINA Wash-List Book, free. Some fellows make a rye face every time they take a drink. Get Your Money's Worth. It's hard to appreciate the full worth of Morley's Wonderful Eight until you have used it in a score of the emergencies that come in every household. Dr. T. F. Barnhart, of Claiborne Parish, La., says: "Permit me to say I have tried Morley's Wonderful Eight and found it a good medicine in Pleurisy and Pneumonia. Nothing equals it in relieving pain." Price, 25 cents. Sold by agent in every town. The prettiest hood is childhood; the most expensive is womanhood. When cycling, take a bar of White's Yucatan. You can ride further and easier. It might be a good thing to send General Humidity out to China. SPECIAL OFFER: Cut this ad out. send to us and we will send you this Violin Outfit by Ernest Baxter to examination. Examine it at your express office and if not exactly as represented, and the most wonderful bargain available, send it to our CIAL OFFER PRICE, $2.57-less or $2.10-and express charges. This is a regular $8.00 Bardivarius violin case, complete with sweet in tone, complete with bow, one extra set strings, violin case, rosin and one of the best instruction books ever published for music students, instrument and organ and jewelry. Send your payment and jewelry to M.T. ROBERTS' SUPPLIE HOUSE, MINNEAPOLIS, MN. FOR MALARIA, CHILLS AND FEVER. The Best Prescription Is Grove's Tasteless Chill Tonic. The Formula Is Plainly Printed on Every Bottle. So That the People May Know Just What They Are Taking. Imitators do not advertise their formula knowing that you would not buy their medicine if you knew what it contained. Grove's contains Iron and Quinine put up in correct proportions and is in a Tasteless form. The Iron acts as a tonic while the Quinine drives the malaria out of the system. Any reliable druggist will tell you that Grove's is the Original and that all other so-called "Tasteless" chill tonics are imitations. An analysis of other chill tonics shows that Grove's is superior to all others in every respect. You are not experimenting when you take Grove's—its superiority and excellence having long been established. Grove's is the only Chill Cure sold throughout the entire malarial sections of the United States. No Cure, No Pay. Price, 50c. WINCHESTER FACTORY LOADED SHOTGUN SHELLS "NewRival,""Leader,"and "Repeater" Insist upon having them, take no others and you will get the best shells that money can buy. ALL DEALERS KEEP THEM. WILL MAKE BABY FAT AS A PIG. DR. MOFFETT'S TEETHINA (Teething Powders) Costs only 25 cents at Druggists, Or mail 25 cents to C. J. MOFFETT, M. D., ST. LOUIS, MO. Room for improvement—The school room. The Best Prescription for Chills and Fever is a bottle of GROVE'S TASTELESS CHILL TONIC. It is simply iron and quinine in a tasteless form. No cure—no pay. Price: 50c. Nothing comes home to a man so much as an unsettled bill. Red Cross Ball Blue makes clothes whiter than snow. Large package 5c. Do not stone the baby when you rock the cradle. Best for the Bowels. No matter what ails you, headache to a cancer, you will never get well until your bowels are put right. CASCARETS help nature, cure you without a gripe or pain, produce easy natural movements, cost you just 10 cents to start getting your health back. CASCARETS Candy Cathartic, the genuine, put up in metal boxes, every tablet has C. C. C stamped on it. Beware of imitations. It looks like the plowholder sows that the bondholder may reap. Please Try Faultless Starch once and you will never use any other. All grocers sell it—large package 10c. The trouble with imaginary dangers is that they often lead us into real ones. Many causes induce gray hair, but Parker's Hair Band keeps hair hard and tough. HINDENHOODS, the best cure for corns. 15c. The chap with the peppery temper is usually the one who is charged with assault. Stung by a Centipede. Mrs. Thos. Saunders, Blufton, Texas, was stung by a centipede. A doctor was sent for, but before he arrived some sensible friend wet a piece of brown paper with Morley's Wonderful Eight and applied to the wound. The doctor said his services were not needed, for the poison was neutralized or killed by the Wonderful Eight. Mrs. S. did not suffer from the wound. Sold by agent in every town. Better make your calls short than pose as a vawn maker. USE THE BEST FAULTLESS STARCH FOR LAUNDRY WORK FOR SHIRTS, COLLARS, CUFFS, AND FINE LINEN