New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-05-25
LIFE INSURANCE CONTENTION

A Convention of Life Insurance Companies, adj
ourned from last year, met in this city Wednesday
at No. "a Broadway, and continued in session two
days, adjourning yesterday afternoon.
The following institutions We're represented by the
delegates named:
rita of Hartford E. A. Buckley President; Berkshire MI
,Ss S%' f. saJ sssss %S scetsrg
Cennectieu: Mutual Guy Phelps Secretary and W Dun
a Faa K1' sRd a.ad l9nf% hsy
Hyde and G. w. Ph PHILLIP AGRSsy G aI
!sIy Smith HG@sn; IT, Ae's. and Or R;aI h1 s.
Mutual Is Of Ss%9o Winston President sheppard
tsry; Mutual BENEFIT J. r Bradley, Acaary, Beasmin C.
Miller Secretary and Lewis G. Grover Dreeor National Of
S9aH sSgi sd @n$@ Ra
E Ase D'S D koy Hsps2r 'qG n 5opsS9
gSds Af ass tDed States Of Ne%Yoik John EadS
TSs'Gn q stssTy The fI willard
Phillips President communicated the appreciation OF the OBJECTS
OF the Convention.
The Hon. William Barnes, Superintendent Of the
Insurance Department Of the State Of New-York, aud
Professor Elizur Wright, Insurance Commissioner of
the State OF Massachusetts, were present, and were
chosen honorary members of the Convention.
The officers were: Frederick s. Winston President;
Morris Franklin Vice PRESIDENT; John Eadie Secre-
tary and Shepard Homans, Treasurer.
"Wednesday was devoted TO receiving reports from
the Committees appointed last year on Vital Statistics,
the Rate Of Interest Legislation, &c.
Contributions of their experience were presented
from large number of Companies, embracing stais-
ties of life Of between forty and fifty thousand nd
yiduas in various parts of this country. From these
returns the Convention resolved 10 form tables of
aiy for the United States, similar 10 the tables which
have been constructed from observations IN Europe.
II il believed that in number of lives the proposed
American table OF mortality will exceed the celebrated
English table, made up some years ago from like data,
procured from experience in Great Britain. The work
constructing this table referred by the COnven
ton to the following Committee: Sheppard Homans,
Thomas W. Russell, John Eadie, Joseph p. Bradley,
George w. Phillips and William A. Brewster, jr.
On the question of the rate of interest the Committee
reported in favor Of four per cent the safest for the
next hundred year, in the business Of Life Assurance
and Annuities The Report was unanimously adopted.
Several matters Of practical Importance were pre-.
scented, and fully discussed Mr.. Barnes, the New
York Superintendent, aud Mr.. Wright the Mass ichu.
Commissioner, being invited by the President 10
address the delegates and participate IN the debera-
tions entered into the discussions with great ability
and TO the evident qualification Of the members.
Among the numerous facts presented were these
The funds held in trust by the Life Insurance
Companies in this country, amount 10 S2,00JO00 the
sums insured are about $50 600 o00 and the number
Of lives lG00 600. Over $1,000 600 are paid out
every wear by the falling in of claims mostly to Wild
ows and orphans. And yet, remarked by Mr..
Barnes and others, Life Insurance i'll the country
is only in lis infancy"
Mr.. WRIGHT presented paper exhibiting the NOR
tuary experience of fourteen companies, which had
reported TO his State for the past year This experience
was equal TO about $4,000 years of life, and 1t proved
was not subject TO as high rate of mortality similar
returns proved il 10 be in Great Britain and Ger
many.
full report of the proceedings OF the Convention,
which were mostly Of a technical character, viii be
issued in pamphlet for the use of the Companies