Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1855-07-14
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MUTUAL. LIFE INSURANCE COMPANY.
We gave in our last brief account of the late
annual meeting of the stockholders of the North
C,r3,ina Mutual Life Insurance Company; and we
,-bsh to-day the Report of the Directors prepared
I,- tici. President, DR.. Chas E. Johnson-together
With statement showing the operations OF the Com
pany for the year ending lst June, 1855.
SIXTH ANNUAL REPORT.
The sixth annual report of the Directors of the
North Carolina Matual Life Insurance Company pre-
s.!its two interesting features which are particular
!, worthy OF notice. .
IN me first place the Board Of Directors would
ca attention to the unusual rate OF mortality among
the iucinbprs of the Company for the past year, and
=, consequence the heavy losses which have been
Isid within that time. BY reference to the list of
,sc< herewith submitted, it viii be seen that the
the past year nave SNCSc'lGH lhNSS VI
r, preceding: wear by about 5i4, 600. This circum-
stance alone without referring to our table OF rates,
,.,..j1 would only establish the fact more Iorc!tiy
shows that losses have been greater than they
sl.IL have BEEN and that, as conservat0rs OF the
J. = interest and welfare of the Company, 1t devoves
.,.: the Directors to indicate the probable cause
which has led to such result. They are aware,
Notwithstanding the table OF DR.. NigglcSWorth, pub
Is:..s many wears ago for the New England States
and the more recent Of Professor McCay tor the
Civ of Baltimore, and to be found IN Hunt Ater-
CHANTS Magazine for January 1870, and the still
mere recent calculations Of Tucket, that yet, we
haze hardly an approximation to reliable statistics
in the shape OF tables of mortality for the United
States With us life insurance companies, and the
STATUTES of the few States, which have adopted Such
reyl.ationS requiring such registration of births and
d < are OF recent Origin to afford any reliable
statistics for the law of mortality.
In this condition of things we, as well as all the
Llss regulated companies in this country nave becn
coni.tIied to adopt the rates OF mortality lof Eng
land that al considered the most reliable namely,
the Carlisle tables. These have been determined by
noting in the stricteSt manner, carefully observing
never to lose sight OF single case, hoW many out
OF large numbers Of persons OF every age, sex ana
condition of life, die this year, how many next ana
81 on until the last individual Of every class SINKS
i,to the grave With such tables to form the basis
Of or calculations as the of mortality, and
intending take risks only on selected hVe7, ana
therefore, expecting avoid the casualties OF NE
in.ideDt to ilnsounlness, the Board Of Directors
consider the number of their losses most remarka-
biz if not unprecedented. But they cannot DeileVe
tat is owing to a higher rate OF mortality IN the
United States than in England, for there are some
coyen reasons for entertaining the OPINION that the
real and substantial advantage lies on the SIDE OF the
fr,.r rather than the latter-such for example, as
the greater facility for obtaining an abundance OF
rood and. wholesome food for there Is not another
country under heaven, where so great proportion
of the people are bale hearty tli!erS OF the Soh-
Arain the manner Of {iciIg of an agricultural pop
rition is everywhere considered more favorable 10
Longevity than that Of mining or manufacturing
pco,le So, TOO the undoubtcd physiological law,
flat cn1cnt and mixing OF the blood OF dl1-
tent civilized nations by marriage, is constantly
,,ryctiscd in the United States, is favorable to the
constitution of poseIy; and last, but not least that
IL our country legislation repoSes more safely upon
enljchtcning public sentiment, which according TO
Dr. BisSet Harkns, in his great work, " clements
ot Medical Statistics tends to lengthen human Ht-
lie saws we must conclude that the causes winch
shorten life arc generally those which render 1t mis-
c1t5e; and that wherever q people enjoy higher
degree of prosperity Of rational freedom and OF
moral dignity, there also will greater number "l
individuals reap the fuI! harvest of their years But
admitting for the sake of argument, as is assumed
by Mr. Tuckct that the rate OF mortality Is oneslXth
greater in the United States than in England, still,
when we examine our expectation table and remem-
bcr that design to insure only healthy persons,
il will not, in the absence of pervadng and fatal
c}-dcmic account for the unusual number OF our
losses. Cnder every view of the subject therefore
tie Directors constrained to believe notWlth-
standing the unusual amount OF losses by accluchC'
that he examinations Of the applicants for insur-
aace by our Examining Physicians are in many
cases insufficient that they suffer much to escape
their attention. which a thorough and search
ing investigation would reveal. And yet, the Drcc-
tors are fully persuaded that the number and the
nature of the interrogatories propounded to the
PHYSICIANS are such as to elicit all the information
needed if rightly understood and faithfully answer
cd They cannot, therefore, too earnestly insist
upon IL more rigid and faithful observance of duty
IN this respect
The other subject that the Directors desire partic-
ulay to call to your attention, is the fact that whilst
tai, company has paid such heavy losses during the
past year. amounting in all to about SIS, 900, with
on: any assessment of the premium notes. their fl
nances are in very sound ana satisfactory condi-
ton showing cash assets and available funds, indie
per.C.t of the premium notes, to the amount OF
c!nlSanccs to meet any emergency, while the pre-
mum notes drawing six per cent interest and liable
to assessment if necessary amount to $4,000.
Thus it will appear that notwithstanding the strIn-
gency i'll money matters, which has affected us, as
We lave promptly paid oul liabilities without any as
ScSSnent Of the premium notes, and at the same
tine gradually increased business relations with
the people, and so extended our sphere of usefulness
tor though Life Insurance is founded on selt-lnterest
1t Is enlightened selfintcrcst, which has been
nlrtured and trained in the school of benevolence
and associated worth.
STATEMENT.
The following statement will show the operations
and condition of this Company for the year ending
June 1st, 1855: