. Hardware merchandising (January-March 1908) . d in stockcompanies were $4 on every $100 of in-surance, while in the mutual companiesthey were only 77c, an exceedingly heavyexpense in the first instance, and an ex-traordinary economical management inIhe second. The average expense of Can-ada stock companies for some years hasbeen about 33 per cent, of premiums,while the experience of United Statesmutual organizations is that a very cf-licient management may be obtained onan expense of 18 per cent., which, in thecase of the Wisconsin association, wasin 1005 reduced to per cent. Thuswe se
. Hardware merchandising (January-March 1908) . d in stockcompanies were $4 on every $100 of in-surance, while in the mutual companiesthey were only 77c, an exceedingly heavyexpense in the first instance, and an ex-traordinary economical management inIhe second. The average expense of Can-ada stock companies for some years hasbeen about 33 per cent, of premiums,while the experience of United Statesmutual organizations is that a very cf-licient management may be obtained onan expense of 18 per cent., which, in thecase of the Wisconsin association, wasin 1005 reduced to per cent. Thuswe see that while on the one hand thestock companies must depend solely up-on their functions as bankers to showany profit on their business, (the fireloss and expenses exceeding the totalpremiums by 2 per cent.), the mutualorganizations are able to refund to theirmembers rebates ranging from 25 to 75per cent, of premiums. Rhode Islandmutual companies, in fact, have refund-ed in one year as much as, 82 per cent,of premiums on state business, and 75. TREASURER JOHN CASLOR. Who Interviewed so Many Delegates During the Convention. pel cent, on business done outside thes t n 1 o. Something might be said as to themethods of existing mutual companies ofpaying premiums and of making refunds. Lumbermen Make Savings. The Western Canada Lumbermens As-sociation requires insurers to make adeposit (as a guarantee of good faith)amounting to one premium at stockcompanies rates, they then pay into thehands of the treasurer an amount equi-valent to 4 per cent, of this premiumper month, or 48 per cent, per year,which amount they have found sufficientto meet losses and expenses. Anothermethod is to pay full stock rates andrefund balance on hand at end of everyyears business. Still another method and one that ap-peals to ns as the most businesslike ar-rangement is to pay dividends as in thelast case, but to limit the refunds to 40per cent, of premiums any balance on hand being placed to a reserve fund
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