Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1871-01-26
From the Chicago Tribune. January lst, lSn.l
Grand Confidence Operation OF over
ago OOO.OOO.

6O,00O,OOO.
mi. sum !. taken snnaly rom ne pockets 81 our
sworn statements Of dy hee liz Insurance companes,
doing business in the state q New iok ang ire bs
ness and making definite reports touching he ps ee
sS 81 M sss YSs sa and s
fnissioners for the years mentioned. -. -,
eircnsr bebg issued BY the National LIE Insurance
Company Of Chicago, md ample Statistical euppof' or
That these aftyre companies paid SAILS, o+4 40
for losses BY death and t sl 81 Tor expenses. beng
r death cIsitas or in other words, each time the insured
ys u for lose. BY DEATH he pays $3.50 for the expenses
Also, hat he amount Of premiums received by said
companies for the year 1853 SStS1sBl?' and iae
whole amot peid by them for losses by death was VAST,
for premiums leaving ths handsome profit for these -
b,sipess viii Ordinary economy should never have
ceeded sOOoG0 and upon the cooperative plan, would
taken rom the hard earnings Of tic insured Of over so
100000 annually. stnpcndous swindlo A.. o,,r
years Of the business Of all the companies ORGANIZED IN
9qd G al S and dG saine he sss q for e
these last mentioned companies about Il years and the
tat ase per et co., or sill 50 Tor 5000 Or s5G6
5000 Tor four years while the average cost for assessments e.
for losses by death the cooperative plan OF va PER
$1,000 per year would amount to s54N on 5000 or lom
ygf t Aaa Il s 70 r ss s or S o
aud the annual dues Of s. per $1,000 Insurance o. siV on
operative plan sire, or s2aii per annHit, bang a
saving 10 the insured over e old Man OF SliS IS for o
years or sii2os per- year should the insured I'VE out BIZ
expectations e. Is years this saving Will az 10 per cent
4ured can readily realize miles, 1t would be to his
advantage 10 keep his money in his business. II Is to be
suancc the cooperatyc plan he has on te Other IN
ordinary business thc saving of 90 per cent in the expenses
shown 10 be nearly 100 per cent ,-.
II also shows the average Of insurance for six years
nj in
after the company had been in existence welty-one
years would have been 3 81 P year On sio INSURANCE i,
average number of losses by death IN aes ana is q ~
the companies doing business IN t9e state Of New PIX
only sb.i6 for $1,000 OF Insurance.
The total cost nf wear for s. 900 insurance in the Mn
company lad been in cxistane twentyone years would
be rs follows;
.r,n,t t,os f,r g. ono a. m ,ar q ono ~ . $40 90
Ssna"nent f,r lii 1855 IN 4 1G nj 81 Is Der
4, 0oa '''' y" "''''' 49, "" ''''S' ~ St25
r<Ys az a. ia nr cent ~ 8Ji
hNi'"'7 VI 'o'"e' = "A''s'''i''' Nv ~ ~ -
rro,at c,., an ssNn trsu-arce' M, tho cooueratiy.
pau, - ,r
~ tls company had ntth IN existence ,ior nA w ~
TWO q eay at least an AVERAGE OF o. lug asIsSe @
participating premium at Inc Ggr o o. N sL ne collr
ance ofsl&l.4s. ......,. mn -.-..,
s saving each year, compounded a. 10 PER cent would
anount 70 tie handsome sum OF $3.50 , During
and should he nom ANY cause lapse his policy he loses
ong si be has only Td me @c o Sqs :" Gq be-
aops paying, the whole amount, including the large
fscate1
As TO the solyency of these IS companies, a careful
tyamnati9n Of he above nsTned commissioners report
slowing me amount Of reserve AS compared with their
rallied assets We ind tho companies stand as follows
o rsye E eomnane bsve onIT % pc C cent S1 IS have
oy 60 Fer cent have 10 per cent only 20 per cent
s1d have per cent Of the amount required by law and