Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1868-02-21
[AdYertisement.l
The Reason.
From the Home Friend


We have on several occasions been asked
the reason Of our antipathy TO the Mutual
Life Insurance Company of this city. In
answer to that, We have to say that We have
no such .antipathy. We would, perhaps,
be richer to-day had We pursued a course
towards that company different from what
we have. But We believe that life insurance
is the best system ever conceived of for
making provision for ones family; and
such being the case, the end can only be
secured by keeping the system pure in every
respect; and whenever anything is discoy-
cred that may impair its efficacy, it becomes
the duty of all who are interested, to call
attention to such defect, if possible There
are very few men who can long withstand
an adverse public opinion; and that opinion
is to be formed from the actions of men.
Especially should journal devoted to any
interest whatever, see that that interest is
protected; and for these reasons alone our
course has been pursued against the COM
pany to which we have referred. We have
uttered nothing in malice, aud we have
printed nothing which we are unable to
substantiate. We have done this for the
benefit of the system of life insurance.
And with these PREDATORY remarks, we give
below the letter Of one who is qualified to
speak, and which tends still further to show
that there was some foundation for what
We said. We present the document as we
have received it, and we leave our readers
todraw their own conclusions
SAVANNAH, Dec. 81, 1867-DEAR SIR :
Early in November last Mr. showed
me letter from You to him, in which you
spoke of having written a letter to me
about the Mutual Life Insurance Company
of New York. / told Mr.. - to say to
you, that 1 never received that letter. Va
rious circumstances have combined to pre-
vent my sitting down to give a full ac-
count of the dealings of that company
with me, which l think were mean and
contemplate. OF this you shall Judge
from the statement | am about to make
you, of which you are at liberty to make
any use you please.
l am one of the oldest of the assured of
that company, my policy being No. $50,
issued on the 31st day of March, 1874. |
wac for years before the war, the Medical
Examiner, and was consulted always by
the Agent, VIM. P. Hunter, ESQ; and / do
not arrogate too much, when | say | pre-
vented many losses.
paid up in 1861 A meeting of the
policy-holders in this city was held in
May, think, 1861, as to what was best to
be done in view of the impending war.
There was large number present, for this
company had the monopoly of life insu-
rance in this city. The great question was
as to selling out For one, could easily
have gone to New York and sold out but
some of our leading men, in whose iudg-
ment | had confidence, said that they
could not suppose that any company would
forfeit the policies, even if war continued
many Others thought with me, and the
Mutual of New York reaped eventually a
rich harvest ont of the Savannah insnrers
in the way of forfeited stock, dividends and
forfeited policies. In 1862 | proffered
payment ofmy premium to Mr.. Hunter, in
gold, through notary, and on his refusing
it, az he was no longer an agent, | entered
the usual protest against damages. | had
no opportunity to profer payment until
after the fall of the COnfederacy. | ad-
dressed the President of the company early
in the spring of 1865, as to the payment of
my back premiums and the reinstatement
of my policy but the answer was evasive
and unsatisfactory. In June, 1865, went
to New York and applied in person to the
office. What was the result?
As great favor, after submitting me to
fresh examination, they renewed my
policy on my payment of all the back
premiums; but they coolly deprived me of
the stock dividends that had accrued for
FIVE years, because my premium had not
been paid at the last quinquennial settle
ment. My insurance was for $1,000, and
had then been running twenty-one years !;
SO you can see that this generous company
did not disdain the slightest chance Of
turning penny. But they were not con
tent with this. Formerly the premium for
residence in a Southern climate was one
quarter per cent. had been born and
raised in Savannah, had at the time been
practicing physician for thirty-6ve years,
during that time had never passed a
summer out of the city, had been through
every epidemic which had ever visited US,
and | did suppose that | might he con
sidered acclimated
Well, they thought differently, and
charged the moderate premium of two per
cent to permit an old yellow fever bird
like me to stay at the South. What could
do? Nothing Like all Southerners was
Frustrated, and | wished, however onerous
the conditions, to have my life insured,
after the heavy losses myself and family
had incurred from the unfortunate war. So
my insurance was renewed, with loss to
me of five years of stock dividends TO
which, in equity, l was entitled on the mu-
tual plan, and the burden of paying pre-
| MUM of one hundred dollars annually,
where for years before the war | paid twelve
and half dollars annually for the same
privilege, viz, that of residing on my native
soil, where had resided as a man for more
than third Of century, and ss man and
| boy more than half one.
Respectfully yours,
| feb2l 1t r d. ARNOLD NJ ID. E