The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-04-30

of Newark, N. j.
In our columns this morning we publish the
card OF this prosperous and rightly named
Mutual Benefit Company ~ $50 2AA
This old and reliable company--the first we
believe to introduce life insurance into this
community-is still, in its accustomed quiet
and unostentatious manner, diffusing its bless
Jugs in our midst, having paid, as we are in
formed, assurances on some twenty lives here,
during the past year. 1t is no exaggeration to
say that it is second to no similar institution
on the globe.
| The Wall street Underwater, one of the
most prominent and reliable insurance papers
in the Union, thus speaks of it:
| To be really, in the fullest sense of the term,
| of Mutual Benefit to all its members, is the
true mission of genuine, honest, properly or
| ganized Life Insurance Company. In such an
organization, no member, however weak or
poor, should be ever overreached or circ,lm-
vented for the benefit Of any stronger, or rich
er, or weaker, or poorer brother. Mutual ben
eft is the. vital principle of a Mutual Life In
surance Company, and exactly in proportion az
any company exemplifies that principle in its
practice, does it attain perfection as a provi-
dent beneficent financial institution
| Has the company named at the head of this
article fully earned and lived up to its express
sive title? In all sincerity we can answer that
We believe it has-that ii has been and is thor
oughly mutual benefit association to all its
members managed purely and well for their
advantage-managed econonlicallE, onorab]y
and successfully. After over twenty-one years
Of experience, the directors and officers can re-
view the progress of the company with honest
pride aud satisfaction; an unbemished record
af1uent treasury, large and nfiential constit-
uency, good work well done, and great good ac-
complshed. The record of life insurance in
America bears no more honorable name than
that of the Mutual Benefit Life of New Jer-
sey
Established in ls45. the eompsny has Maid
over S5000,000 Give millions of doliars) to the
families of deceased members.
| Declared in dividends over ($6,O00,000) six
millions of dollars ots4 fD-ft4rss7 at,
And presents accumulated assets exceeding
| ~ 00O,000) twelve millions ~
| The twentieth annual dividend being fifty
per cent. has Just been declared
| Every legitimate form OF life insurance grant
ed by the Mutual Benefit, and furnished at the
lowest legitimate cost to the insured.
| Every element of safety, security and econo-
my that can be combined to make up a good
Insurance company is represented in the Mu-
tual Benefit Lie. az 3 a. ~
In 1866 the income of the Mutual Benefit
exceeded four million dollars; payments on
death claims and surrenderss $993,76f46; divi-
dends S419,65645; new policies issued 7,193 in
surfing $27 ,757, 037; total number of policies in
force 8,7S4, insuring $92,842, 869 The net sur
plus assets, after providing for value of all
claims and liabilities, including the present
value of sums insured, amounted at close of
1866 to $2,977 8604S, whilst the ratio of expense
oincome was only II .0S per cent. The Mutu-
al Benefit has not pushed for business like
many younger companies the last few years.
Its management is eninently careful and con-
sentative, more watchful of the safety of the
future than anxious for the show of the pres
emit s..asstsE ses.za. doom oe az
We feel that we owe it to the Mutual Bene-
fit, as well to its worthy officers and agents,
to make this special well-warranted mention
of the merits of the company. y
h Warren Sparrow, Esq, In the Cumberland,
Nationa. Bank building, Exchange street, is
the State Agent and Superintendent of Agen-
cies for Maine and New Hampshire.