The Carson daily appeal. [volume] (Carson City, Nev.) 1865-1870, 1870-06-16
A SIGNIFICANT SUCCESS.

When Life Insurance was tree of meagel
growth in this country, it would have been q
:. very difficult task to persuade its most san
guine supporters. that a quarter Of century
would produce such results from such small
beginnings. When we reflect that more has
been done in the United States, than in the
crowded capitals of Europe, where Assurance
of Lives, in one form or another, has been
practiced for more than a century, we can APP
preciate something of that prudent foresight,
and careful calculation of chances which is
characteristic of the Yankee mind, though
he is often set down as being reckless and in
| the extreme.
Some men succeed in business while others
fail, but we are glad to know that in Life In
surance there is no such word as fail. for,
while the laws of mortality and interest remain
as they have been for the past two centuries,
SO long may we rest assured that when we
have insured our lives for the benefit Of others,
have done, and that we have acted wisely and
well. A Company which has grown with
such steady progress, and with such swift in
crease that it seems impossible that such re-
suits haze been SO speedily realized. is the
Continental Life Insurance Company of New
York. In May. 1866. its first policy was issu-
ed; in December, 1869, over twenty thousand
had been written. The increase of business,
as indicated by the number Of policies issued
in 1859 over the year 1865, is greater than is
reported by any other Company in the world.
A very remarkable feature in the history of
this Company is the extremely low ratio of
as shown by the Reports to the
Massachusetts, Commissioner for the years
Of 1867 and 1858 inclusive in fact, lower
than any other Company represented in the
report. While the average rate of losses in
all the Companies was t,centy per cent, that
Of the Continental was only nine per cent
This fact is worthy of attention, as the rate of
is one of the most important and
peculiar considerations which affect the stand
ing and dividends of Life Company. By
consent of the stockholders, the Company is
now conducted on the mutual plan as far as
me policy-holders are concerned, all the sur
plus being divided on the contribution plan.
By this plan, now adopted by the best Com
,anies, such share of the policy holders
money is returned as belongs to him, and the
onger he is member the larger viii his sur
,lus become, or what is the same thing, his
payments will materially diminish. Grace to
he extent of thirty DAYS is extended to the
policy holder, and the policy is held good
Turing the time. A favor of this kind costs
ne Company nothing, but under some cir
it may save the policy when it
nay be most valuable.
After paying expenses. losses. and divid-
nds, the balance OF assets on the 3lst of De-
ember, 1869, belonging solely to the policy
folders, was over Three-and- One Fl alf-Mil- Il
ions of Dollars. Such success has only L
zen attained by energy, activity, and patience
n the part of the officers and agents of the !,
Some of them were men of ex- :,
erience when they Joined hand in hand to 81
ush this Company. Others were men who a
eem to have been wonderfully well qualified d
II the positions which they have filed with b
D much credit. P
II a success so significant has been achiev- 81
d so speedily, and the same talent and tact al
,nspire, the day is net far distant when this u
gorous sapling may overshadow all the L
her oaks in the forest.