The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1864-09-20

W
rrath and justice require some notice be iskea Of
the above. Mr. Sparrow did net tas Mr.. Neal statss1
surrender the agency ofths N. \. Lie ., q great
pecunIary sacrihce; bis agency ofthst company was
revoked for What we consider dishonorable trans
action.
He Sparrow saysthst sffer more thorough inses-
tlg alton Of later reports &C. he was induced to ac-
cspt the agency Of the Mutual Benefit
Mr.. Neal states his discussion with Sparrow CON
vnced him OF the superior advantages Of the Mu,u-
al BENEFIT.
Are either of the above the true reasoas! Has Mr..
Nea' given the true reason why he allowed twenty
years business to be transferred from his hands 70
Mr. Sparrows, M8ss Is4
Neither of those cover the ground. Mr.. Sparrow
las steadfasty contendcd for months after his con-
troversy with Mr. Neal that it triumph for the
N. Y. Life. Why with his protested scruples con-
tinue to impress this fact upon tho publics Why so
assituously claiming everywhere the MY. Life to
bssecoad TO NO company after boing thus convinced!
was he honest then, and nows Mr.. Meals article
had nothing to do with it this Mr.. s. knows.
What does he mean BY later reports of the Mass.
and n r. Insurance Commis,ionerss
Has.he snythiug later than Jan lss4s No Tor none
have been issued Of later date by those commission
ers. 1895 .f ~
has ne LOT ttuuie0 tuOSe FcFoftb CAfeiuuy lOf tue
past i've months prior entering the employ Of the
Mutual Benefit During that time. not day has
passed in whica he did not present tbs N. r. Life to
to the business men Of Portland safe. reliable,
and cheap - any company in the county,.
L. there any thing in the later reports 70 which he
refers. differing in any degree to ths former reports
of toe same commissioners to the preiadiee of the
N. r. Life. compared with the Mutual Benefit. or
any other Coz In fact does NOT the Mass Ins. Com
mis'ioners' report of 1854 shew the growth Of the
N. r. Lie to have been eater the past year. than
any Co. doing business in that state! L.
Does not Mr.. Sparrow know that the nett asrets,
to value ofthe H. T. Life. has largely increased the
past year until 1t exceeds that Of the Mutual Bene-
1T over three per cent.' He ought to know it, and
does Ho knows full well IL he il competent for his
business that far from the last report Of either Of
the above commissioners being in anyway constru-
cd to tho end he implies 1t Is quite the contrary
1t q not little singular. that after tour years Of
examinatios and labor for the n. Y. Life--in con.
slant competition With the Mutual Benefit. and pub.
he soniroversy with is agent. called each day to
close invcshgafon Of the merits Of eash Cothat he
should remain nrm sud decided in mis- COMMISSIONS,
in regard TO the former uatl shs General Agent Of
the latter approaches with the proposition to trans
fer twenty years. business Of M Neal to his hands,
If he will adgocste the Mutual Benefit.
Thus in one night. ell the iavestigstons Of years
vanish admitting al he hes said heretofore for
years untrue. The Arguments Of Mr. kesl which the
day before mere sophistry, became . tower Of
| logic, not to be o'erturned. fsRH fTf.ft tfs
Twelve months hence, should any other Co. offer
inducements may he not Ind some later report which
will require denial Of all he to-day states In 70.
gard TO the Mutual Benefit II four Year, ofinvest
4
long will II require 70 properly enlighten him,
The whole matter 10 TOO transparent to deceive any
sensible person. Its qssstiop Of dollars and cents
vantage but let him be manly. and honorable as well
] = truthful.
His statistics are family the shove reasons be
assigns He states the amount received for interest
BY the Mutual Beneas during the year 1859
baa 3 s44o.57s.7s
Amt reed BY N. 7. Life same time. l25.s5i.7s
By ering to the latest reparts OF the Mass. Ins
| Commissioners tissa) page "a. we find the amount
thus received by the AuaeI Benefit $3.50 077, IS OF
s4 50 less than be states. while the N. r. Life
q, go 10 more than be States an ss.or Of only
sib2l7 % in ons item - shown BY the authority
he insokes. Hs
so In the matter Of sxpsnses- taking sams author
ity. N Y. Life for 1858. 1851 pr. ct.
Mutual Benefit, 1859 o.74 pr. ct.
excess OF .ea per cent agans, the n Y Life. moi
pa per cent - he states showing again his
thus might pass through the items.
I word Of explanation on this excess Of expenses
! Every person At all familiar with Life Insurance
and Mr. sparrow in particular flor this point he hsl
explained thousand timesl knows that tho expsnss
OF new busness TO Co 10 from three to four times
greater than thatineured ON the old or that every
/ new policy issued. cost the Cos from three to four
times ~ much the frst year. in subeaucnt years
| As result Co that is doing large lew business
must increase its expenses this the N. Y Life ha.
dons-aud Is justified in doing. every policy hold.
er being benefited BY that new business. (Sss Inns
Com sEemarks apoa that poinsI
Ihsvronts outlay will be felt the present ant
In future years. Some Cos reach ss high IS 80 PEI
cent and sssd Cos even higher; the only question
y has ii been iudciously expended. Look II the o:
fcial reports saHs
n M.,i a Life issued in 1855 %; new policies
An OF 1890 in favor Of the n Y. Liz. Thil
TACT is answer to the query. whether or no this dill
ference has been judisicosly expended.
On the point Of dividends have bat little to say
remarkipg the n Y. Life declared Is per cent. the
last year and could have largely increased the same
had they dssmed Ii wise so to do in the present
dit ON Of things they thosghs conservative eourss
wisest. In this thsy Ind the endorsement OF NJ Y
Commissioners Says Mr.. Barnes. snps ofIns Dep
OF n. r.. in his last report Ths deposition to DC
clare excessive dividends. especially with our mote
Cos. is undoubtedly growing evil with Life Ins'
The Mutual Benefit is . note Co. 30 il the N Y
Lite. the former being more So taking note Tor 20
per cent. the latter accepting but 20 per cent
The d. I. Lite has done leading business for
! years, aud this they have como without falling into
the evil to which Mr.. Barnes reers Of div.
icends. Its Trustees are honest and capable men,
known TO esaah BY many business men of Portland
| they have neysr sought to swell their dividends
In order 70 proeun now business but to give to its
1 policy holders al that any Co. can give thes, con
sistent with ample sccurity and equity; on this ba.
sis they have done this leading business. Says Mr.
sparrow in bis advertisement Of Dec last The new
business Of tbs D. !. Life In tbs year lS62 nearly
.quaied the combined businsss OF any two compan.
les in the United States We are eoatent thus to
remain, a1a4
Mr.. sparrow stat 20 il viii cost s22.l2 less ON 800
| premium in The Mutual Bsnsff than in the N. Y.
Life. Not knowing the plan upon which he bases
hsfgures. cannot examine it, ais to show il.
illusion - such IL is.
Does he cain the Iasses will average morswith the
N. Life than the Mutual Benefit or any other Co |,
IL al his public statement abort time aimee. "rhs
mortality among its IN. Y. L:fel members has been
pr2porti'aey less than that OF any other Life ms
Co in Amsriss.s -ieff
Docs the N Life do less new business! He has
told you does more. De they receive less for that
business' He tells Us they retain more. Il thor
business well managvd' He replies yea So think
the Ins. Conmissionsrs Of n. Y. and Man. Why
then Is not - SAFE reliable and cheap the M.
tusi BeneGt any other Co. The truth IL Mr. Spar.
row nnds it for his advantage for reasons given to
operate for the Mutual Bsnent. hoping to retain
both Cos. Finding his agency Of the N Y. Lie re-
voksd. be ues this Card to create in
the minds ofiis policy holders. trusting gain some
and procure double commission upon tho same par
tesi thus seeking to undo the work the N. r. Life
has pad him Cor. This 10 his Gods Of honor Iiesvs
him to his own reflections and the Judgment Of hon.
orable business men. T
In this ststensnt no dsrespect to the Mutual Ben
eft Life ins. Co. Is designed or intended The ~ Y