New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-01-31
Life Insurance.

40 ne kdit0r 81 Inc krI0aaes
Mr.. Joseph Blunt {" Life Insursr.'1 CoHssaler
and Director in a rival institution Of this City. is
out with special plea and continued attack on
the strongest and best conducted Life Insurance
Company in this country-the Connecticut Mutual
of Hartford.
Mr.. Dunhsm's card in reply to Mr.. Blunt fresa
attack was true and dignifed; he resorted to ne
lswyer-like method Of making the wrong appear
the right, but simply acknowledged the error d
the Louisville agent, and stated the real amount
Of assets Of the company.
Now sir | am insured for life in the Connect
cut Mutual Company to the fullest extent they
will take me, for kHOic the Directors, know its
offices are well managed, and further ka0s that
no person ever lost one cent or more by Hartford
Insurance Company either by Encouragement or
defalcst Can the same be said of the New
York Corporations Further-ofthe Corporations
oil this CITY, bow many Of long standing have
escaped this disgrace Ii is needless TO namc
the number for they are legion; bat We cannos
pass over the vast amount of distress and misery
caused by such failures
Hartford Insurance Companies and Hartford
Banks hare erer paid to the uttermost farthiss
their indebtedness.
/, as a member. will not consent 10 stand longer
on the defensive, bat will state fe facts in re-
gard to the Immaculate Company represented by
Counselor Blunt.
The New.York Mutual Life Insurance Com
psny" in their seventh annual report, state their
assets to be sl 023, 939 50. This is statement
calculated to mislead the public. The misrepre-
sentation consists in the very material fact OF
their not charging themselves with the amount Of
dividends declared, and the Just property Of the
insured.
Their last dividend was declared A. ID. l5ls.
and was 50 per cent. Their last claimed assets
-
Fify.two per cent the above is........ 5S1te 60
Leaving balance of.........-.......... saei SsI or
or less than half million Of dollars.
Ii YOU will examine the reports oil the Connec-
ticut Mutual Company, you will perceive that be-
fore stating their assets all their indebtedness is
deducted The NewYork Mutual Company ara
bound to pay their dividends, when due, in cash;
the Connecticut Company cancel theirs with tb3
notes taken from the insured.
The Connecticut Company ID charged by Mr..
Blunt with making one dividend oil 90 per cent,
ttcO of 60 per cent. and one OF 90 per cent TINS,
also. is a false statement. The above Company
did make one dividend OF 80 per cent on it's tsse
FIRST months business, amounting TO less than
81 600: il also made one dividend of 90 per cent.
on its subsequent year business, which was also
quite limited but on It's magnificent business Of
the two subsequent years, dividends Of 30 per
cent were made Now il you deduct the hrst
dividend on a nominal amount, you will lind that
the average dividends for the three years busi-
ness is Just 53l per cent which this Company, IN
view OF its economical management, can well al
ford to make, if Mr.. Blunts Company can, with It's
large salaries and other heavy expenses, make
dividends of 50 per cent.
Mr. Blunt further states that any Company max
ing dividends Of 40 per cent. must tai In 80 years
II this be true how long will the Ne WORK Ma
tual Life Insurance Company remain solvent,
when making dividends Of SO per cent
LIFE INSURER IN THE Conn MUTUAL.