The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1869-10-21

A large room, closely crowded with desks.
is the department of the city soiciting-aeents
OF whom there are some fifty regularly au-
thorized and appointed. Their entire time
is spent among the business men of the me-
tropolis, and their mission is to induce hus-
bands and fathers to insure their lives. In
addition to these, there are in the priucipal
cities of the United States and Canadas tbir
ty i've branch offices, each OF which is com
plete in itself, with its corps of travelling
agents and clerks, and emplo, ing sub-aaentS
in every village and hamlet in the country, to
the aggregate number OF several thousa nd.
These are to the Equitable what both hands
aud tongue are To the body. They are man.
aged by a committee OF the company's direc
tors, thr Juoh whom all appointments are
made, the standing of applicants is inyestigat
co. cbanges rccomaaended, agents. accounts
scrutiniZed, and action taken in ali cases
where agents have not proved satisfactory.
The committee now consists of the following
gentlemen: James NJ. Halsted, President of
American Fire Insurance Co.; Thomas s.
Young, of 7. s. Young d. Co.; Moses A. Hon.
peck, of M. A. Hoppock & Co.: Henry s.
Terbell, OF FL. S. Telbell &c Co.; Charles 7
Martin, President of Home Fire Insurance
Co.; Thomas A. Cummins, Everett House.
Inc medical department is under the d.
rectlon OF Edward Lambert, NJ. D.. and AL
fred Lambert, M. D., assisted bv the distin-
guished surgeon, DR.. Willard Parker. as con-
sultlDg physician. This is evidently one of
the most important departments of the socie-
tys business. The best insurance companies
DO not issue policies on impaired lives. vet
how can they protect themselves from loss bv
!riud or bad Judgment, when applicants for
insurance are scattered all over the country
and are numbered by tens of thonsands3
This is effected by the admirable system If
the medical department, and its careful ar
ran2ements for economy and safety, In the
first place, no application for insurance from
any quarter is passed, no matter how favora-
bly, reported, until the general character of
the medical examiner, his system. stanGino
and length OF practice in the profession. the
tune and place o. graduation, his age, and the
popu alton and characteristic diseases of his
locality, are ascertained by unexceptionable
references and certificates. Those facts are |
preserved in vulumirous records, and copsti- |
tute bureau of medical standing and char |
acter. Nor is it every one apparently even in /
good health that can obtain policy of insur-
s snce; Every application goes through the
a maaas Vi zen different men, who separately
+; auu eonsecutiyely approve Of it. One of these
IS the medical examiner at the nlace ybere
Tue application is made, two are the mas3,co;
directors at New York, three are the Officers
aa uileetors OF the society, and tie rest are
trieu ana experienced clerks, held strctiv 90.
countaole for every error, omission or defact
OF any Kind One huge volume is shown con.
ttainlng record of applications for policies
= ~ persons apparently in good health. which !
nase oeen approved by physicians, but reiec.
10y ,cu W Tue rigid rules of the society. The
y of the cases is very great only those
s seii placed in this book which have been an
P'1Ved by agents and others, and coming be-
, ono .ne officers and directors for final action
Cd he eecleu' OF the many thousands reject
We ~ heuicai examiners, no record is kept |
that tIe no u.hprepared, after this, to learn |
Ennitab,n - tallty among those assured in the
than is called smail-much less in reality |
important fact IN t : actuarial tables. Another
aroro a,,o', IN snls connection is tho Iroo
average amount OF its policies ~; - tie large
er than in any other compan1, ",icn Is great
and which has an important and .ne world,
mote bearing upon the low rate of r, very re-
But what becomes of the millions of r ailty.
whlch this great financial agent accumula,aeS
now IS 1t managed, and how invested IT,
fare OF such resourcesis sacred trust. Which,
uenahas the exercise of the greatest financial
apnlIy ana integrity. Science has determined
low hiucn money is required for a comnanv |
oaieiy W carry It's risks. To render insurance
apsoiuteiy secure, this money NAV be secure
~ invested. and some competent authortv
muSs eAis, GO ~ ascertain and give publicity to
this TACT Such authority is provided hu' +bo
laws the State ofNew York and Mas Ds Sne
sets, in the ''Superintendeuts of Insnrannn,
who annually examine into the affairs 81
every company transacting business in these
States, make mathematical calculation of
the value OF their finances, and wind up the
affairs OF any company wanting in any par
tic liar, and transfer its business to some
sound institution before the real damage is
accomplished. The directors of the Equitable
we're not satisfied with the external safe
guards of official control, and its internal