Show COLORADO INSURANCE commissioner SAYS RATES TOO LOW but local lodge of goodmen woodmen i stronger financially than ever before the local lodge goodmen woodmen of the world Is in better condition than over since it was established in og den Is the statement made today by T C morris it has on hand a reserve fund ot more money mr morris declares than of which all other orders in the city can boast death claims are not paid out of the local fund asserted mr morris but out of a general fund to which each subordinate clodgo in the united states pays a yearly assessment local lodges therefore are not responsible tor claims of this nature which are honored by the general authorities at the instance aej report of subordinate officials the death of local members has not in any way affected the financial standing of the local order is in a flourishing condi uon we are not in financial straits affirmed mr morris since the lodge wag launched in ogden we have paid out to the families of deceased members our assessment last year amounted to which was promptly malj to the general fund out of which claims are paid in addition to this we have that belongs solely to local members and which we intend to invest in a building of our own the cry of higher rates is always raised by a certain faction every time the national convention is held but the grand clodgo has a million and a halt dollars invested in property bonds etc above and beyond all expenses so you see we are financially strong and intend to hold our own with the stalwart beneficiary organizations of the united states goodmen woodmen Wood men ot the world throughout america are very much perturbed over the statements eliat have been published in eastern papers that the order was in a critical condition financially anci ally the news times of denver publishes the following the pacific jurisdiction of the wood men ot the world has been notified by state insurance commissioner E E rittenhouse that its rates must be equalized and an adequate expense fund maintained or serious financial difficulties will threaten it within a comparatively short time at the request of head counsil 11 boak rittenhouse has investigated the condition of the order for some time he has had actuary paul wilson going over the books and the books of the actuary together with a letter from commissioner rittenhouse was sent to boak yesterday 1 I believe that the interests of this vast army ot certificate holders broto commissioner rittenhouse and their beneficiaries demand that the govern ang body of your order adopt without delay some method of providing 1 an adequate expense fund 2 for the elimination of unjust discrimination 3 adequate rates to protect policy obligations no irregularities of no kind were developed by the investigation the goodmen woodmen simply find themselves confronted with the same situation that was met some years ago by the ancient 0 of united workman when it was found necessary to increase rates in order to protect obligations from the growing mortality this condition Is said to be one with which all fraternal organizations have to cope sooner or later in their history the head officials of the goodmen woodmen of this jurisdiction are extremely anxious to do everything in their power to protect their policyholders policy holders and lent evary assistance possible in the investigation conducted by the insurance commissioner referring to adequate rates commissioner says the law of mortality Is inexorable and all insurance orders must submit to it it they expect to survive continuing he says the woodman of the world Is a comparatively young and vigorous insurance order it has an excellent organization and Is ably and economically managed its territory is confined to the most healthful states in the union the average age of ita members ts still relatively low but is increasing the average of mortality per thousand has not yet reached an alarming figure and now when your order is strong and before it starts on a possible decline Is the time to adopt adequate rates and thereby establish beyond the question of a doubt its ability to meet its policy contracts and indefinitely perpetuate its existence for the people ot colorado and the of other states to lose what they have put into this order to toe deprived of the benefits promised by this order because those in command are afraid to raise the rates to a proper level would be a calamity for which no sane excuse could bo offered I 1 therefore regard it as the duty st this department to call the attention ton of your governing body through you to these matters and to suggest that measures be adopted at the earliest possible moment to protect the people of this state who have placed their insurance and their confidence in the goodmen woodmen ot tho world head consul boak heartily approves of the plan of raising the rates and otherwise placing the order on a sound financial basis in a general way ho regards the of commissioner rittenhouse as being in the interests of the order and says he conducted a very thorough and fair examination lie is firmly of tho opinion that the rates must be raised and believes the action taken by abo insurance commissioner win enable the head officials to the matter more clearly before the membership at tho meeting in seattle ahls month |