Vicksburg weekly herald. (Vicksburg, Miss.) 1868-1883, 1869-12-25

pany, Or in other words, the sHrpiU-
ing assured realize no money from
the transaction. The representa-
tives ofthe deceased poIicy-holder,
on TIC other hand, have received ia
the face of the policy alone, It may
be, q profit OF 800 or even 5000 per
cent. il seems equitable, therefore,
that having paid but few premiums
he should receive no further sum
in the way of dividends, but that
these accumulations should be
eventually given to those who pay
premiums a long series of years,
enabling them to realize en- their
outlay a profit approximatins to
that Of those dying early. This is
done in the Ton,ine system. The
premiums of all persons insdring
on this plan are theoretically
compounded at ten per cent. per
annum until they shall amount to
the face OF the policies respectively,
a period varying according to the
ages OF the assured for one insuring
| at "a IL IL a fraction over Is wears.
During this period the annual divi-
dends oil all the Tontine policies are
set apart aS a fund belonging TO
this class. All who die before the
expiration Of the period receive
only the face Of their policies, the
accumulations going solely to the
survivors Of this period in the shape
Of reduction Of premiums thereafter
and eventually in cash Rnnuities.-
The best actuaries have calculated
that the dividends on such policies
will be three or four times greater
than have hitherto been declared
by any company, and the system
presents peculiar advantages to
those who are of lOng.lived fami-
lies, TO those who have mortgaged
estates, and to oil recipients Of large
incomes who are unable to aCCumu-
late TO the point Of Independence.
Much Of the unprecedented sue
cess Of the Equitable is owing to
the genius aud energy Of the off,
GERS, and to the disinterested llber-
atty Of It's directors, who have been
from the first self.constituted gra-
tuitOus agents., in extending the
benefits Of the system among the
families Of their acquaintance, and
in advancing the Society as pure
" benevolent Institution. There
are other elements not perhaps en-
tirely distinct from those we have
mentioned, without which q sue
cessful career could not be main
tanned. Great volumes Of business
10 not conclusive evidence of great
prosperity There must be the ut
most care in the selection Of risks.
liberality in the settling Of claims
must be consistent with the inter
ests Of living policy-holders, and
the management Of It's vast accumu'
lations place future solvency be-
yond the remotest question. The
Equitable has paid In death. claim'
and dividends over three and a halt
millions. It's small per centage Of
expenditures to premium receipts
which is less than Is called for BY
its actuarial tables, is the conse'
quence of the care exercised In the
selection Of lives. No application
for insurance is passed until the
general character of the medical
examiner, his system, standing ant
length of practice in the profession
the time and place Of graduation
his age aud the population and char.
~acteristic diseases Of his locality
are ascertained by certificates ant
references. These facts are pre-
served in volumniOus records, anC
constitute a bureau Of medica
standing and character. The Equit
: able was also among the first to re
| cognize aud reward the valuable
services of It's agents.
Upon the management OF thu
vast pecuniary resources Of an as
t, surance society, however, the pub
. lie justly look with the most jeal
ous eye. These funds, under th
conditions Of insurance are the pro
perty of the pOlicy-hOlders, o
{ those in whose favor the assuranc
= is made; under a rightfully con
. Quoted system no one else has an
g interest in them, present or contln
gent. These accumulations largel
u represent the lifelong savings Q
= economy and thrift, and in thou
sands of cases are relied upon q
J. the only support of the helples
and dependent. No more sacre
~ trust is conceivable than the mar
= agement of such resources, and II
other iiduciary relation demand
J. the exercise Of higher integrity c
greater financial ability. Accord