The New York herald., 1869-03-15

assured u very little understood and this want Of
information is apt 70 Lead 70 some
10 the prejudice OF life insurance suppose tnAs
every building insured by nre insurance company
was certain to be consumed within forty
Insurance would be "a greatly it increased, ana
.nas .n the company wound not only have 70
make MAKE charge FOR their annual risk but also Keep
large reserve accumuatng on hand against the GER
lam .aan event OF future conhagrations. This is tne
Pancpie on which the reserves In life Insurance are
vidual wil happen at an uncertain period, and ln
tol tne company to protect itself fr0m ultmato
enable the Company To DO business - oT long series
q Years sna sun have cash enough on hand TO pro-
v.ae or s'i future losses The annual cost OF carry
fs only about onetnird OF the annual lfo
premium and the laws Of this state require the
and be invested IN bonds mortgages or real estate.
II company ht to invest part OF the reserves
and constantly increasing rent for years to come ID
not this safe investment, especially when we take
into consideration the fac that every policy holder
IN these companies holds mortgage on these build-
ings and the other assets of the company to the
amount Of the cash valve or mis- policys II indi-
vidnals nnd such costly buildings on Broadwaya
paying investment why should not corp0ratlons2
STATE SUPERVISION.
The States Of New York and Massacnnsetts M s nave
duty 1t Is to regulate and control the business o. m
surance They require deposit Of 600 IN stocas
transacting the business within their respective
States and they also require an annual vaiuaton oL
all the policies IN 1Orcc ana sworn StacicutS VI so
expenses incomes and general management OF tHe
several companies. This rule IL so strictly enforced
that all unsound and unreliable companies are
driven from these two States, and IS an ehectuaI
guarantee against all wildcat companies The pup
ished reports enable every interested IN me au
fire insurance to examine for himself tfle stanunx
and business OF every company ana tney nave uon9
more to place our insurance companies IN souhG
condition than all other causes combined; anu -
one cause OF their unexamped prosperity ana tne
confidence which the public repose In them In Eng-
land, where no governmental supervision over ne
insurance companies exists, we dnd that any seven
men, without single pound sterling OF pad up
capital, can organize life insurance company, ISSUE
policies pay extravagant salaries TO ohcers cnncek
the dongs and condition OF the company III tne in-
penerabe mystery OF silence, and after 1ew yeass
OF systematic plumber go into tue nlaeistrom oi .to
court Of Chancery and leave their vctimizeo poncy
holders to shift for themselves. WITHIN the preseht
century we find that about 900 life companies nave
taken this course or been amalgalnated with otnrc
companies equally insolvent, until iiie Insurance.
there has become synonym for swlndling.
BUSINESS IN 1868.
From the annual reports OF the life insurance cons
panies dong business in this State with three ex-
ceptons we able lay before the readers ol ts
HERALD the following returns, which may be reiud
upon as exhibiting very nearly correct state oi tio
business during the past year. In the three cases
wnere the returns for 1853 not given the accounts
OF the Ofices are In such mudde that u mas DeeH
impossible to complete the annual report; out III
these instances have taken the returns Tor lSo1,
so that the following figures vary but little rom tne