The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-12-03
INSURANCE..


other hsn one confined 70 pocss Issued oy those sless
ssd pvt an estimate Of the mortality among certain hummer
limited %a be
dicang the rate Of mortality among the Offices contributing
"Nohng notorious than the frequency with which
Ss NE 5 % IN and mot os
ON the same e there has 1t time other been issued AS
ony 10 extreme samps in order %
s q s principle and r. es in The truth q any
polces and not upon the number Of lives Is we'll known
was 20 fully assured IN he Lie Offices q ibis riusao that
". SS sp further p s On @ me s%
had Loyds % have the life uuderwrlsn there The poa
could mol b less than hree or four hundred hence svi
dent that death taking place under such woad
deaths lille in fact only one had happened
duce the anomalous OF there being 1000
years Of risk depending upon the duration OF these policies
therefore that unless the principle Of repeated
generally Of ali the elected that
err ooud mot be 2 take place saesns
s @ re S e. Any Ss
be relied indicating DE rate Of mafta, among The as
req classes IN recent year." .,,
in ne practical sePssDy Of hs table hey have
s
simply IL but he s
Of assumptions which throughout the whole Of the Com
and subs,us for them hypothetical and fictitious
The next portion Of the report which beg d cot aen
ton the tabulatsd figures at The op Of page The g
Iss e.is,sDse in fact they The value q he
n . soa
These figures are purely a6rcaon and therefore under
form - a. column 81 .Soss 4 !ss q would
misscl given he data which their calculations rest, and
What be the Of the Commissioners giving in the
table a. Ss Top Of The the
rancess sh1 mot asps an but simply sas
he assured schooboy would 81 once have detected he fal
eiOus results which given in The
systsac care with which IN every case some elsnsn. or
mand, to check the results
make 1s ss sss p: n
De s a.
All The details Of the 20 that any competent person may
he line Of the table Top page Of The co@mis-
Il Il AZ
nature Of the results given BY the Commissioners the
Ssm and he same rate Of interest," vz &c Ss
seen that the number Of policies the amount assured
gard 70 them s67,776Sll.
thus appears that the present value of the assured
And the present value Of the future paya
BILE In respect TO the same is. 9O3S9l 50
Dluerence
wi on referring 70 table be seen that includes $50 poll
which chiefly figures having re-
Ii and ss sss $
Se present value Liability under them Is very much
The Commissioners estimate, see page I, 81, ao6,-
The preceding calculations give
Hence we see that The commiasioneis make he liability
92ss more than The actual amount OF The osrrec.,ass
s saa ss s ea r
what manner theT figures have been tampered with;
difference Sssxesn sSs ysass q he .Ss: IN.
Ss u.Sliss dspSscs.sa ss.ss might Be y partly
% asiO DC
Ss NO of the duty Of The
COMMISSIONER adj9dicas 70 The relative and Individual
q he S s
sisins policies; and they der widely rom The functions and
d9nss on the oompanys own actSary who has e
; = Rssy sslss:
g.
every
saccs
portion the whole Of their capital but the
sa sa s sP sna vs P sssa
they engage in the venture.
,hs balance sheet in page with the
Of results the table and leaving ali the other
Invested capital on he soh November last as will
ss s sso c nS page
as per partially corrected results In table top Of
page b. 46S9a0
Differences Of surplus ................ flS3 928752
This Iesu although as viii hereafter not placing
from that q hs who convert the surplus
may also Be here mentioned that have calculated the as
morsy pwSicS By
Offices in this country namely the Carlisle table, and ind the
q s8ssy
shall endeavor explain the the disparity
between the results set forth in the last column of the table
liable A, already described.
serve under the rst line in the table the of page
Sll Y more than that determined by table A. exactly
"a provision made for expenses and dividends by adding
IN the case Of the International 50 cent when the policy
holder participates in profits and 20 cent when he
table A. and se hsules IN pas tse e
evident that they have in their calculations deducted from the
sSOy Sc or Blu, granting Commssonsrs,
81 he a9 on ma e sneS os e Ss
ha because The loading IS per cent there should fall to be
cent
TR full s ss sy ". s che ns. e.
deducted from The gross premium Of s cent order
missones evidently blind " this simple principle
ns o PER ns us s their
no missvng as to this only TO read he six
lines In continuance Of the last quotation from page their
report which deliberate statement that because
Z g he @ sS he % b
premium should be only sixth part Of the premiums
1t certainly be amened thai men, evidently unacauant-
ed with the elementary principles should be permitted
preside hoae interests nrused to the
commission. Seeing that the data
suits given in their report withheld and that they msap
ply the simplest laws of numbers impossible to have
faith their opinions In the results Of their calculations
The Commissioners have evidently deducted IS from
the premiums order arrive the figures
referred % page Let US examine the real practical effect
portion of the loading will be found that according their
own showing Of taking the loading the profit policies s.
he suiI