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INSURANCE
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cemage each year to the sum saved by employees, provided the funas are kept intact for a number of years. Such funds are frequently used in the purchase of valuable securities, causing the employees' fund to appreciate considerably. Most of these principles could be adopted by every worthwhile theater operation in modified form. A policy of good will toward employees results in many advantages to operations and has a tendency to build a spirit in an organization that makes continued success more assured.
GENERAL REMARKS
It may be seen, then, that insurance serves more ends than one. The obvious aim is to protect profits against inroads by forces of nature, by suits of various kinds, and by the death of money-making brains and hands. A secondary object is to add a measure of external pressure upon organization and growth, since policies are like budgets against liability, preserving equilibrium and distorted costs, and preventing ruin. A third purpose is to increase the safety of public and personnel by engaging, incidentally, the prevention service which most companies offer with their policies. A fourth end is to inspire confidence in the financial world, and to remove worries from the thoughts of management. And finally, insurance offers another proved means of building up loyalty and permanence among workers. The manager should have a good idea of the risk he is taking on himself or asking the insurance companies to take for him. He should keep in mind the law of averages. He should realize in taking insurance that of the dollar that he spends only fifty cents will be used for payment of losses, and therefore there are many risks of a minor nature which he can well afford to assume himself.
If a manager finds that he cannot afford some of the forms I have listed, then that is his situation, and he must make the best of it and trust to Providence. Or, if after giving the matter close thought, he believes that this or that type is unsuited to his operation, he must be the best and only judge. He should not allow himself to be scared into carrying unnecessary forms of insurance by an overzealous or unscrupu