Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1868-03-04
ADVERTISEMENT
General Agency Of the Mutual Lie
Insurance Company. New York.


LOUISVILLE, KY, Feb. 90, 1850. +.
THOMPSON, ESQ.,, Agent, Nashville-DeaT
Sir: Your favor of Dist inst, addressed to
the President, F. G. Winston, has been re-
ferred to this office for reply. Have you
not learned that the reason of these attacks,
by other companies and their agents, Is
because the Mutual Life oyershadows them
so that hey could not get business in any
other way? They cannot compete with ns
in any other way. The case, as stated by
DR.. Arnold, of Savannah, Ga, simply in
wolves the question of the so-called for
fixture of Southern policies" which has
been 80 often argued pro and con. At the
breaking out of the war, DR.. Arnold, liv-
ing at Savannah, was a partner in busi-
ness carried on in New York. The war
came on and violently disrupted that
partnership. 1t was not the Northern
partners VINO broke up the concern, but
events over which they had no control"
TO use fayorite Southern phrase in refer
ring to the war. Whether the Southern
partners were instrumental or not in caus-
ing this dissolution of the concern, is not
worth while to consider. Suffice it TO say,
the partnership was dissolved. There was
no means Of communication with these
Southern partners, to ascertain their wishes
in the premises-no possibility of knowing
how long the war was to last, or what was
TO be the future condition Of affairs, either
politically or financially. Under these
circumstances the company did the only
thing possible to be done, which was con-
sistent with honor and ordinary CONNER
cial prudence.
They caused balance 10 be struck of
The interest Of erery defaalting partner,
gust as Il stood at The legal termination
Of The artneship-crediling him with
what he had paid in and the interest on it,
debiting him with his share of the losses
and expenses, and set aside the resulting
balance which in law the violation of the
contract had forfeited, as an equitable trust
to be paid BACK to those Southern part
ners whenever they were able TO receive it.
The company cOuld not keep its books
open dd minimum. No business could be
transacted in that manner, with their liza
bilities unknolUn, their receipts c1a OF. DR..
Arnold was in precisely the same position
AZ all other Southern policy holders The
company offered him, first, what he had no
legal right TO demand-the cash value of
his policy at the date of its lapse; but no,
he wanted TO be insured. Well, the way
was simple enough-make out an applica-
ton and take policy at your present age.
Mo- he was an old Examiner; the COM
pany must grant him some indulgence be-
yond what the rules really permitted
They must revive the forfeited policy and
allow him to continue his payments at the
age at which he had entered tieenty years
before. Consult your tables, Mr.. Thomp-
son, and find what the difference in money
annually is between $4,000 at rs and the
same at 45l Well, the company yielded
this point-purely for favor. They were
not doing any business in the South Allan
tic and Gulf States. They did not want
his policy, any way. They were under no
obligations, either legal or equitable, to in
sure him again, but they did give him a
new policy in place of his old one, carry
ing all the diridends has old one had had, and
the premium payable at his entering age
But this was not enough DR.. Arnold
thought they should grant this new insu-
rance-so far az the climate extra was
concerned-at rate which had been
proved insufficient, and abandoned for
over fifteen years. For many years be-
fore the breaking out of the war the
climate extra at Savannah had been
2 per cent. Before that it had been
one per cent, and for a short time after the
company started it was one-fourth per
cent, at which rate DR.. Arnold originally
insured. The company had stretched its
priety. The officers could not sacrifice the
company for friendship. They had saved
for DIR. Arnold and his Southern COM
Patriots the value of their policies, instead
of forfeiting them as they had the legal
right 10 do. An act which has been made
capital against the company in the New
England STATES, where they have been
by the agents of other COM
panies in Radical sections as a Copper !
head concern" 'pro-slavery affair."" etc,
etc They had consented to reiasure DIR.
Arnold, after they had discontinued all
their Coast and Gulf Agents, and we're de
cining all applications from that section
they had substantially given him all the
benefits of his former policy in new one;
but they could not, in Justice to eirpoiicy
holders, give him neto climate rate which
their experience had proven individually
TO be insufficient Hiac HlG IachrimG! AS
for forfeiting his "stock dividends" you
know perfectly well, that the Mutual Life
has no stock, and that he had none Dr.
ArnOld's misuse of the word shows his mis-
apprehension Of the whole subject. They
did give him all his old dividends, butthey
refused, very properly, TO give him diyi-
dends for the five years during Which time
he had paid no premiums-When they had
not hsd the use of his money and when
none were earned. His idea that any divi-
dents had accrued" within that period is
simply mistake. 1t is hard to suit every
body. We are all human and 80 liable 10
err, but we try honestly and intelligently
to do Justice to all the diverse interest we
represent. | know il to be hard for agents
like yourself, to meet things like this, bat
there is one simple answer to all them.
Either such charges are in effect I'M
true. G, not necessarily Intentionally
false, but founded on mistakes of
facts and conclusion therefrom, or
else we who run this company-all of us
Board of Trustees, President, General
Agents-all are a set of sWindlers and
scoundrels. Whether We have that char
acter here and elsewhere, wherever we are
known, can he easily ascertained. But If
we are true men-if the communities in
which We live, respect and trust us--if our
largest business and the greatest confidence
reposed in rs is where We are beet known,
then there must be some mistake, in
charge Of meanness, Implicitly or inten-
tional wrong doing, in the management of
the company.
Very respectfully, yours,
BENZ. ID. KENNEDY,