The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1850-01-15
NUMBER SO.

more oxpe nsive tables now 10 use by many
of the English and Scotch companies 81
London and Edinburgh
10 the use of the Carlisle Table, where
the full premium is payable annually in ad.
vance, the Mutual Life Insurance Cnnpa;
ny Of New York which commenced bnsi-
ness in 1913, without capital beyond the
premiums afforded by this table has accu.
mulated within the short period Of seven
years Safely Fund of upwards Of nine
hundred thousand dollars. The dividend
declared upon The business of this one com
pany during the first five years, was fifty
two per cent, alter paying $4,000, ni
losses and expcnsea.
ia the use of the same table the equitable
Life Assurance Society of London, has sccu
mulatol Fund Of ell 100000 sterling. or s55,.
0O0,000 after paying half as many millions du.
ring 81 years in losses This companc. as Welt
as the Mutual Life Insurance Co. OF New York.
commenced business without capital. The
large funds Of profits for the most part have
been derived from their annual receipts Of pre.
mums and from their investment at compbpnS
interest. Previous to the year l779 when the
Carlisle Table was formed, this company in
London, under the use Of Dr. Prices Norihamp.
ton Table, of much higher rates, had done but p
small business; since that time their business
has gradually been increasing; the arnual re.
ceipts at this time OF this one company in Lon.
don amounting TO over two millions of dollars
| Their plans Of business on the purely Mutual
| principle may now be safely followed by air
new institutions and adopted as a model fsalc.
ty, profit and usefulness. A member of this
London company who insured $1,000. Mt tbo
expiration of "a years, was entitled &, his dc
cease, to SIG, 900, the accumulaiins profit and
interest during That period having amounted to
81 lCho. which large sum ofaccumnlated prof
its was paid in addition to the $1,000 originally
insured Another member who insured s5O0c
at the expiration Of 81 years was entitled ~
S29, 800 or more than FIRE tmcy tho original sum
which he insured, which, at his dccease. was
paid to his legal heirs. The number of insur.
ahces made by this one company in the course
OF twenty years from the year $500, was l5I.-
754, or more than 1900 annually, by means Of
which thousands Of families were saved from
extreme poverty.
The existing policies of Life Insurance, ~
England, in the year lsi5, amounted to 24o,-
600
by recent Medical RcIort in Scotland the
average per cent of loss, annually, upon 59,45o
persons at 30 years of age, has been shown bv
facts and statistics Of mortality TO be less than
one and quarter per cent, Nhile the North
ampion table makes the average over 81
BY the same Report, the average yearly loss
es or deaths upon every 10000 persons at 81
years of age is II fraction over ! per cent.
The first dividend of profits of the Connect
icut Life Insurance Company, in the use of
the Carlisle table, was f6ty per cent, and the
second sirty per cent, after paying all losses
and expenses, proving that the rates Of insur-
ance established in this table are not only per.
mancntly safe, but ample to meet all ordinary
losses and expenses during the whole period of
iie,wthout any Reserve Capital whatever. T.
quail proof is afforded that these rates when full
ly paid in cash, will meet all ordinary losses
and expenses during the first ten or twenty
years to double or quadruplc the amount.
These favorable results were in consequence
Of taking none but good lives, from large in
crease in investing the finds, and, also, from
the short policies. 1t is understood that mona
but members of the company share in the nc
commodatons Of the funds, but that in all ca
ses Of death an equitable share Of all the prof.
its will be paid to ihs holders of the policy.
With such inconrovertiile evidences of fIc
present security and permanent protection al
fUrded in the use of the rates OF insurance un-
der their full annual payment, the Board Of
Directors have deemed it expedient at present
to dispense with the payment Of large portion
of their Reserved Guarantee Capital, in order
to avoid the tax upon HE insured members,
which the guaranteed in; rest upon its full pay
ment would otherwise impose. They have, in
accordance with this determination, adopted the
Purely Mutual System OF Insurance for the
first class Of members, until the number shall
be increased to 800, under the practical opera
ton Of which all proiiss of each year, without
any deduction will revert TO the assured in
proportion 10 the respective premiums paid by
each member
The Directors are satisfied that the only way
to make Mutual Life Insurance Company
both useful as u Savings Institution and saIt be-
yond contingency to the assured is, TO retain the
income from premiums until the expiration fthe
life policies and, that the practice of refundng,
in Scrip, to be paid in whole or art or in the
reduction Of the annual premiums defeats in
great degree the very objects of the Institution
Impressed with this conviction this company
will conduct its concerns accordingly.
a general balance will he struck every five
wears and each member will lie credited with
their full proportion Of profits and premiums
and charged with their propoHionate shares of
losses and expenses in no case 10 exceed the
annual premium and in of death Of any
member the halaure standing to their credit will
be paid to the huldcr of the policy
ITO be Continued
! THE SHlP CAtEB GhMsHAw.-The
barque Clarissa c. Bell, arrived ihis
morning from Fayal, has brought home
Captain lloxie, late of the ship Caleb
Grimshaw. burnt at sea. Also. Mrs.
lIoxie, child, first and second mate,
steward and stewardess. We are pain.
ed to learn from Capt. lloxie. that be.
tween fifty and sixty of the sieerage pas