The Portland daily press., 1864-09-19
SIP ECfAL TICEB.


urrender the agency Of the N. T. Lite at q great /
,ecuniary sacrifice; hts sgency cftbat company was
revoked for what we consider di.honorable trans
He's parrcw) says that after more thorough inyes-
Ilxaton OF later reports &e he was induced to ac-
sspt the agency Of the Mutual Benefit.
Mr.. Neal states his discussion with Sparrow con- !
WINGED him Of the superior advantages of the Mutu-
al Benefit.
Are either of the above the true reasoass Has Mr..
Nea' given the true reason why he allowed twenty
years business to be transferred from his hands to
Mr.. Sparrows. ts#a NB
Neither Of those cover the ground. Mr.. Sparrow
has steadatly contended for months after his con-
troversy with Mr. Neal that it triumph for the
N. 4. Life, Why with his professed scruples con-
tinue to impress this fact upon the publics Why so
afsifuousy claiming every where the N. Y. Life to
be second to no company after being thus convinced'
was he honest then. and now! Mr. Meals article
had no hing to do with it this Mr. s. knows
What does he mean by later reports of the Mass.
and N Y. Insurance Commissioner,
Hsslhe anything later than Jan 1894, No for none
have been issued Of later date by those
ers tAtsl y va. "
Has he not studied those reports carefully for the
past nve months prior to entering the employ Of the
Mutual Benefit During that time. not day has
passed in which he did not present tbs N. Life
to the business men of Portland as safe, reliable.
and cheap as any company in the country.
Is there any thing in the later reports TO which he
refers differing in any degree TO the former reports
Of the same commissioners, 10 the prejudice of the
N. r. Life rs compared with the Mutual Benefit, or
any other Cor In fact, does net tho Mass Ins. Com
missioners report of 1854 shew the growth Of the
NJ T. Life to have teen greater. the past year. than
any Co. doing business in that slater
Does not Mr.. Sparrow know that the nett assets.
to value oftLe N Y Life, has largely increased the
past year until it exeeedE that OF the Mutual Bene
IL over three per csnt.i He ought to snow 1t, and
does He kuows full well If he is competent for bis
business that far fso the last report Of either OF
the above commissioners being in any way constru-
ed the end be implies it is quite to the contrary.
1t is not little singular, that after four years Of
examination and labor for this n. Y. Life-in con-
slant competition with the Mutual Benefit and pub
lie controversy with its SCENT. called each day to
close investigation Of the merits Of each Cothat he
should remain firm aud decided in as convictions,
la ssgard to the former until the General Agent Of
he latter approaches with the proposition to trans
Ter twenty years bssness OF Mr.. Neal to his hands,
il hs viii advocate tho Mutual penset. tgia9f
Thus in one night all the Investigations Of years
vanish admitting all he has said heretofore for
years untrue. The arguments Of Mr.. Neal which the
day before were mers sophistry, became tower Of
logic. not to be o'erturned.
Twelve months hence. should any other Co. offer
inducements may he not and some later report which
will require denial Of oil he to-day states in re-
gard to the Mutss Benefit. II four years ofinyesti.
CATION resulted in so completely deeeiving him. how
long will it require to properly enlighten him.
al faf. tr.x A~~. -
sensible person. Its question OF dollars and cents
Isdmit bis right to all himsalf Of any such ad.
vantage but let him be manly and honorable as well
o truthful. - t-
His statistics faulty o. the above reasons he
assigns He states the amount received for interest
| by the Mutual Beneat during the year 1863
"easssH 3Ha s4io,57s.7s
Amt reed by N. 7. Life, same time, 1876. s5l,75
BY ering to the latest reports Of the Mass Ins.
! Commissioners tls6al page "a. We find the amount
thus received BY tic Mntuel Benefit SOS ,es or
sli4 so less than he states. while the n Y Life
10 more than he states, an error Of only
sl52l17. "a in ons item As shown by the authority
I he insokes.
So in the na,te- Ct oxpsnses-,aking same author
ity. N. Y. Life for 1863. 1851 pr. ct.
Mutual Benefit, 1868, s,f4 pr. ct.
an excess OF per cent agans, the n Y Life. moi
OF Sa per cent as be states showing again hs
thus might pass through the items. tts
A word OF explanation on this excess Of expenses
Every person at all familiar with Life Insurance
and Mr. sparrow in particular tfor this point he ha
explained thousand timesl knows that the expens,
ii aey business to Co 10 from three four timei
greater thsn a. incurred tho old. or. that ever
policy issued coat to Cos from three to foui
times much the first year. Is In snbseq.Sat years
must increase expenses; this the n. Y. Life Ia.
done-and Is Iustiaed in sc doing every policy hold
or being benefited by that new business. lSee Ins
Cow remaFks upon that poini.l
The profits outlay will be felt the press
!. In future yeass Some Coz reach high 30 pc,
cent. and good Cos even higher tia oaly question
Is has 1t been Iudicousy expended. Look at the o.
asial report:
Mi h hls issued in 1853. ss;5 new policies
An excess of 1880 in favor Of the n. !. Life. Thi
TACT 10 answer to the query, whether no ths dill
fereucs has been judiciously expended.
IA the point Of dividends. have but little to say
remarkirg the N Y. Life declared IS per cent. tn,
last year. and could have largely increased the
had they desmed it wise so to dol In the present
dtion CT things they thought conservative cours,
vissst. in this they find the endorsement Of N.
Commissioners Says Mr. Barnes, Supt Inns Dep
ofN T., in his last repor., Tbs disposition to d..
clare excessive dividends. especially with our mote
Cos. is undoubtedly growing evil with Life Ins."
The Mutual Benefit is note Co. 30 is the N. Y
Lite, tie for -ner being so. taking note Tor Sc
per cent. tas Is,ter accepting but 40 per cent.
The N. Y. Lite has d-no leaoing business for
years, and tn they have witheai falling into
the evil to which Mr. Bar refers Of excessive div
| idends. Its Trustees are honsss aud capable men
Known to be such BY many business men ofPortland
toy Lays never sought to swell their dividends
in order to psosu.s new business but to give to Il,
policy holders all that any Co. g,vS them, con
sistent with ample security aud equity on thIs ba
sis thoy have done this leading business. Says Mr.
srsrrcw in bis advertisement Of Dec last The new
business o. t.s =. 7 Life in the year 1854 nearly
equaled The combined bs.iaess III cry two compan
lee in the United States" We are content thas te
remain.
M. Sparrow states 1t will cost s22-l2 less ON $40
premism in tie Mutual Bsneht than In the n Y
Life. Not knowing the piss gpcp which he bases
hissdguIes cannot examine its details to show IL,
illusion As such il is.
Does he cain the losses viii average more with the
Z. LIE than the Mutual Beneht or any other Co
X ad his psbliG Statement short time Since "rh.
mortality among itstN. Y. Lie, members has been
proporfi less than that Of any other Life In,
! Co. In America"
Does tho N. Life do less new business. He has
told y-p i does Do they receive less for that
busines' lie ts,is u ley retain more. Ia their
business well managed. He repnes yea So think
the lns. Commissioners Of n. T. and Mass why
then Is IL not safe. reliable and cheap the MI.
IT, Benefit any other Co. The truth Is Mr. Spar.
row nnds N To- ~ rdssntage. for given. to
operate for the Mutual sens6t. hoping to retain
both Cos Finding his agency OF the n. L. Life re-
voked he Issues this Card to create Dissatisfaction
the minds offs pc icy holders. trusting to gain some
and procure sosb,loc9mmission upon the same par
ties; thus seeking to Indo iae cork the N. Y. Life
has paid him for This Is his code Of hopor Ileays
him to his reflections and the Judgment OF hon.
orable business men.
IN this statement NO disresrect to the Mutual Ben.
ent Lifs ias. Co. is se;gned intended. The N. Y.
Life can rise without stteLsrtan. 10 drag Others