The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1868-02-15

olVloends 10 It's polcy-holders, and
introduced other improvements. This
was the initiative of remarkable pro
gress. Comparatively limited as we're
the operations Of the Htna Life in its
earlier years, they were yet signifi-
cant Of the fntnre r wes t!,o ia
vorite life Office in more than one
locality. 1t, won confidence by it's
dealings, and the position it once
attained it never lost. In the year
1861, $50 policies were issued, and
the annual receipts were S78, 533. 67.
Passing over the figures showing the
wonderful growth of the company
year by year, it is q sufficient illustra-
tion of the change in position
wrought by six years to state, that
during the past year there were short
periods of less than two weeks in
which the business was as great as it
was IN the entire year of 1861. When
1T is considered that now the AGtna
concentrates i'll single week the
cumulative results of year not long
since, the present position of the
company would seem to have in it
elements whose financial value may
be pronounced incalculable.
1t is. however, more by the charac-
ter than by the extent of business,
that the actual financial condition of
life company is to be determined,
though it is recognized axiom in
Insurance., that the larger the bust
ness, the safer, other circumstances
Being equal, uui it is worthy of no.
tice, in the case of this company,
that 1t is to the "other circum-
stances" that it takes especial pains
to call the attention of the plblic.
Most prominent among its printed
documents for general circulation are
the official figures, showing the rela-
tive position of the various life COM
panies i'll respect to the points re-
garded by the best authorities as
settling the real financial structure.
In the present eager and frequently
censlrable rivalry for business, pro-
voking unseemly contests, the ma
nagcrs of the Etna evidently regard
such tahnlated comparisons as their
best and most sure weapon, and the
very preference for such, evidences
great confidence on the part OF the
management in the soundness of the
Institution, and II belief in its supe-
rlorlty IN many respects.
These figures show that it's vast
new business has been worked up at
less per centage of cost than the
new business of any other company,
and ut about two-thirds of the ave
rage or general cost of such business
and that its risks have beer selected
with care, is shown by the fact that it
has low ratio of claims to policies.
Its proportion Of expenditure is so
well kept down that it shows an ad-
vanclng ratio of assets to liabilities,
which has already resulted in net
surplus of about 81, 100000. There
Is one noticeable circumstance,
which, though perhaps trifing in
itself, Is not without meaning, in con-
nection with the monetary regula-
ton of the Office. At this early date,
we have not, of course, the full sta
tistics for 1867 at hand; but in turn
ing to the figures for previous years,
we observe the following growth, in
ratio of assets to liabilities. in two
years. viz: December 81, 1865, ratio
1880 per cent; October 81, 1866,
12O.97 per cent; December 81, 1866,
25 per cent. Such was one of
the conditions of an advance which
placed the company first of all doing
business in New York, in regard to
the matter of proportionate increase
of resources.
The presidents and cashiers of the
banking institutions of Hartford,
with the officers of the Aitna Fire
Insurance Company, in November,
1867, as in 1868, endorsed this COM
pany as reliable, responsible and
honorable" and the term honorable
applies to its interior arrangement as
well rs to its more public conduct.
1t is home testimony, borne by those
we'll acquainted with the workings of