The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1870-04-12

ofus "children" who are still left, may we
not strive to so keep our lamps trimmed
and burning that we may be gathered to
meet him at last 10 the better home. TO
join him in the choir OF singers whose
voices shall make glad forevermore the
city Of our God. MARTYR"
Washington. D. c., April 9, 1870.
Life Insurance.
Mr.. EDITOR -
Your correspondent, Mr.. Roberts,
in his attempt to sustain the assertion
that he has made in former communi-
cation, has utterly failed to do SO. AL
though proffering to enligbten the public
respecting life Insurance, his real object
seems to be to attack the "dollar and ten
cent companies" us he calls them, while
deceiving the public in regard to his
own. He was well aware, no doubt, that
it cost much less to be insured in those
companies than in the old ones he deemed
it necessary to make the bold assertion
that it virtually costs nothing to insure
in the Mutual Life" His attempt to I'M
swer my inquiries respecting that asser-
ton, shows that it is easier to make than
to sustain them. They cost nothing and
are worth nothing unless sustained by
facts.
Now, what are the facts in this case
He tells us that the company get more
than six per cent. interest on their in
vestments. | learn from the last years
annual statement of the company, that
their assets were thrty-6ve million, while
the receipts for interest was 81, 10l ,402,I2
on their investments, which is less than
FIVE per cent. We leave Mr.. Roberts to
reconcile his statement with the published
report of the company, and would caution
him to be careful not to state that which
contradicts their reports He insinuates
that the managers use the funds for spec
ulative purposes. Does he admit it ? II
so can the public rely on the stability OF
the company? He says the company
never refused to pay the 'hidends they
promised. Are we to VI erstand that
the company are not responsible for the
acts or promises of their agents. He
does not deny that they do fail to fulfil
the promises of their agents. If so |
would caution the public against receiv-
ing, US truth, the statements Of some OF
their agents. saw published state
ment, the truth of which / have no reason
to doubt, and which illustrates the man.
ner of doing the business Mt head quar-
tiers, of gentleman who called at the Of
fee of the company in n. Y, to look at.
ter his dividends. A clerk examined his
policy, said there was some two thousand
dollars due on it as div end. Wanting
more funds than he had with him, be told
the clerk he would take it. He was told
that it would not be as much in cash, but
that it would 60 to increase his policy &c
that amount. He asked how much il
would be in cash, was answered some ovei
six hundred. He said he would take
that, but was met with the reply that the
rules of the company forbid their paying
cash, but would apply it on his premium
He told him that he had paid it but {
short time before. He saw the presiden
and other officers of the company, but i
was of no avail. He went away withou
his dividend. Doubtless they though
that the policy might be forfeited anC
they would save their moucy. l CAM
to this conclusion by examining the state
mont of the company, that they issueC
over II, 900 policies in 1869, (Which wa
some 5000 less than in 1868, yet tn
policies in force did not increase bu
some 10000, thus showing that larg
number are lapsed each year and is il
accordance with the report Of Mr.. BaIne'
to which I have before alluded, tina
nine times as many forfeit their policie
as receive the benefit Of their insurance
Would it be thus lift cost nothing to b
insured ?
He tell. US that the expenses of tn
company have no bearing upon the cos
of insurance. But why not, when as W
have demonstrated that the money como
from the pockets of the insured. To ho'
much credit the claims Of an agent al
entitled, whose most important statement
are thus contradicted by the reports
his own company, we leave the public
Judge. 1t is unnecessary for me TO sa
anything in defense of the dollar an
ten cent companies" they will speak tc
themselves, and in SO plain manner, th,
Mr.. Roberts cannot blind tho public
regard to them. He tells US that it is nece
sary that company should have cas-
capital. 1t is so when founded on ii
principle of the old companies. l hol
: that principle to be defective in theor
and unsafe in practice. First, it is a
unnecessary tax upon the insured, an
t often impossible for them to meet II
g large premium demanded, hence the RET
SON why nine tenths of those insured al
obliged to forfeit their policies. 1t
Q dangerous in practice, as it places lart
B. sums in the hands of few men, temptir
their cupidity and endangering the 50
t vency of the company through the di
honesty of it's managers, by defalcatio
o robberies, &c. would call the attentit
e OF Mr.. Roberts and the public, to the o
It Vermont Mutual Fire Insurance Comp
J ny, with the principles and operations
d which the public are familiar. Witho
: dollar capital, yet it Is unquestionab
r one of the safest companies in the countr
n The "dollar and ten cent companies" a
g established upon the same plan, that
It to draw from the insured only such sur
70 as are required to pay the losses as TIT
% occur.
% do not propose to notice the vitupe
% atoms and unmanly personalities in viii
y he INDUCED. Such trash is too often !
n sorted to by those who have a relish I
Il that style Of argument and have nothi
ID better to present.
INQUIRER.
o. No ouv Women Want the RallOt.