Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-05-15

DLuonbSf IOnAU1f IL AOtADn EDOu5 VI a
kinds, at reduced prices. All other classes
of goods reduced proportionately. Those
desiring cheap goods should not fail to
call and get our prices. We mean to sell
goods as cheap as any house in the eoun-
try. Do not mistake the place.
T. w. JOHNSTON & CO.,
347 Main street.
GLOBE MUTUAL LIFE INSURANCE CON-
PAhY OF NEW YORK.
Turningin to the Office of this Company
recently, says the New York Under
VTiter in onei of its late issues,
to settle a small premium account
we picked up a few of the printed
circulars and pamphlets, and glanclDg
through them whilst the bOOkkeeper was
arranging the details of our account, we
were forcibly struck with the idea that
things are growing old even in our own
time. Already the Globe is nearly six
years Old-that is, this Globe life Office, and
even In these six years il has acquired such
a thick crust of experience that you Cas-
stand very firmly on it and take note of
how the world is moving fromthat stand
point. For example, at the back Of the
neat little manuel ofthe Company, begin
nins at page % and running on to 30, is a
/" list of p~olicy-hOlders deceased and losses
paid"-wbich five pages of printed matter
may be hguratively regarded as a solemn
cemetery, and every number of a policy
entered there as a headstOne erected to
the memory Of a deceased member, testi-
flying to the wisdom or good fortune OF his
or her action in securing policies in good
seasOn-in time to protect or enrich the
objects of their love. That little GENE
terry in that sense contains no less thar
$50 headstOnes, all put up in a little over
five ~years-from June, 1864, to December,
1870 nnI - nIonn --1nETnuN $500 -
represents no less than the sun of $780,
754 81 paid out by the GLOBE on policies
falling in by death in that time. Very
safely we may conjecture that not one of
those $50 deceased fellOw-members Of the
Globe reckOned on entering that record
within that short period. We think " all
men mortal but Ourselyes"-stil the
Globe revolves, carrying around the liv-
ing and the dead, unerringly -accumulat-
ing the latter in every revolution.
In the mortuary list of the Globe Life
we recognize some well known names,
notably that of our late friend, associate
and contemporary, Thomas Jones, Jr., the
frs editor of the Insurance Monitor. He
had policy No. l50-amouut, 5000. Hap
PLY our cherished friend had several
other policies, and his wife and children
were well protected. That headstone
item may be a useful example to many
who atf%ectiOnately remember Tom
Jones'"
The earliest numbered policy that fell
in appears to have been No. A on life of
@. Dubois, of POughkeepsie, n. Y
amount, 5000; and the latest No. 1922 on
lite of F. NJ. Wirsing, of Chicago, H.
amount, $1,000.
Already the mortuary records of our
Life Companies afford ample food for
meditation. No need for wandering
through actual "citiss of the dead" in
order 10 mOralize on the uncertainty Of
human life. You can do it any day you
step into a life insurance office, and do il
probably to more ultimate practical profit
: Sr wife and children, and peace of mind
The Globe sums up its work very con-
cisely in the following few paragraphs,
which we clip from page . of the Office
pamphlet:
coMPANY's PROGRESS.
The Company was organized and CON-
menced business in June, 1854, and up to
January 1st, 1870,
Has issued Is, ISL policies.
One hundred and eighty of the policy
holders have died, and $50, 754 A, the
mount of their insurance, has been paid
to their widows orIegal representatives.
Five annual dividends have been de-
clared to policy-hOlders, amounting to
S4tA0O0.
m Company commenced with a cash
capf2 of SlOO,0 900, and the assets have ac-
cumd&ted in five years and a half to the
sum of S2,25l,0 5 II.
The progress of the Company is UMPIRE
cedented, and the accumulation of assets
is much greater than ever before made by
any Company at the same age.
For the year 1869 the income of the
Globe reached SI34S7 ,739 70, whilst the out
go for all claims, dividends, expenses, etc,
came to only S61s,355 40. During the
.Fsar 1886 policies were issued, insuring
2,O62. On the eagerly interesting
point of dividend" the trustees an
bounce that they "have directed pay
ment of dividends amounting 10 SI69, 900
declared on the contribution system, on
policies of 1864, IS, go, '67 and '6S, TO be
applied on the renewal of same in 1870,
either in reduction of premium or as re-
versiOnary additions"
We may take his opportunity, unso-
licited by and unknown to any of them,
to make a few remarks on the managing
officers of the Globe.
At the head of the ofice-indeed the
originator of the COmpanny-stands Pliny
Freeman, Esq, who may well be called a
veteran life insurance expert. Mr.. Free
man must now be well nigh on to seventy
years of age. He forms a prominent
figure in our earliest recOllectfons of life
insurance officers in New York, back in
the time when life insurance was Young
IL AIAo wy eAL@ 9NAoe6A16 a0Ao " q I
fOOthOld amongst at least an Indifferent
public. 1t is well known that he applied
nearly twenty years of his life vigorously
working up that now really grand insti-
tuition, the New York Life. He was re-
cOgnized for many years as the guiding
spirit of that progressive Company. When
he retired from the New York Life, MI.
Freeman had reached that period of life
when most men would desire to rest from
active work, and few of his friends ex-
pected to meet him again in the heavy
harness of an executive officer. But Mr..
Freeman was of hrmer ibre-he could
not rest without rusting, and rust he
weuld not-so before many months he
put the Globe Mutual Life in full shape
before the public, and with both hands &c
the pillow, he turned over "f~resh.helds snd
pastures new" We have recorded above
the result of his new work. Still Mr..
Freeman exhibits no diminution of force
He is undoubtedly one eff the very ablest
of life insurance men in the country
clear of intellect, keen in judgment, full
Of eXpedient, skilled in finance and com
petent in general management. He be
longs to that strong pioneer tierRE men
who "blaZed the tracks for life dnsu-
rance in America. With such men as the
late DIR. Phelps, who made the Connect
cut Mutual; Mr.. Winston, who pushed
the old Mutual into the foreground; Mr.,
hAON0AF MAO AaAkAA04 III vi CaEC8 Nuc /
great Mutual Benefit, is Mr.. Freemanao
be classed. We feel we justly owe Mr..
Freeman this little personal tribute as on
many occasions we have differed with
him, never hesitating to dissent from
what we could not approve, bat we must
admit that we have always found him
tolerant Of fair argument, uniformly
courteous and ~cOnsiderate for the opin-
of others.
Mr.. Loring Andrews, Vice President of
the Globe, is a we'll known retired mer-
of the directors of the Park
Bank, and so engaged with his personal
business that he cannot devote time to
the details of Life business, but gives his
influence and counsel as may be desired.
About two years ago Mr.. John A. Har-
denbergh joined the staff of the Globe as
second Vice President, and entered at
once actively into the duties of the posi-
ton. Previously Mr.. Hardenbergh had
been a member Of the mercantile firm Of
Fenner, Hsrdenbergh q Co., I29 Water
street, and was thoroughly trained to
commercial business. He Is a son of the I
lately deceased highly esteemed Rev DR.. 1
Hardenbergh, of this city, and as well by :
family connection as personal character, Is '
a gentleman commanding general CONT I
dence and respect. Mr.. Hardenbergh Is
about 50 years of sge-energetic, ass1d- !
uous, and in all respects reliable. de has
displayed a ready aptitude for the details I
life business, and proved a valuable as !
sociate for Mr.. Freeman. The ONCE OF Q
has been filed from the organi- Q
cation Of hi company by Mr.. Henry Q
q Freeman, q son OF the President, who c
shown himself by his attention, cour- Q