New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-08-23
FAIR PLAY ~ LIFE ASSURANCE.

The subject Of life insurance is again bought
prominently before the public mind in shape that does
little credit to the Mutual Life Insurance Company Of
this city. Everybody knows that the Company named
is one OF largest financial institutions, that it is
entirely solvent life Office, and that its affairs
managed at least with energy, whatever else be
said about its management. But size, solveney and
shrewd management not all that the general public
wish 20 in a life insurance company. And when, as
has lately been the case, the Mutual Lies officers
descend TO attempt petty revenge upon more sue
cessful rival by inspiring and circulating untrue and
distorted statements to the prejudice of that rival the
circumstance may well be met at once and denounced
as simply mean and discreditable to decent Office.
whatever may have been its for attacking
the Equitable in spitefu manner the Mutual has
no right to attempt hoodwink the public by dissent
mating assertions which not founded IN absolute
fact 1t IS therefore, IN the interest OF the public that
il the controversy is to continue, the contest shall be
fought fairly and with the weapons of truth.
It must forgotten by those who read the
plausibly arranged figures OF the Mutual that these
figures the fruit of thirty years cultivation of the
life insurance field during most OF which period the
Mutual had virtual monopoly OF the business. Aud TO
come now after thirty years OF such experience, and
assert such wonderful superiority company which
was not born until after the Mutual had lived out half
its lifetime IS TO mock the intelligence of the public
Let us have fair play In this matter and in order TO
secure this il may be necessary to follow no the mis-
statements and deceptive tabuaons Of either party to
the contest
1t is not true the Mutual has repeatedly assorted
that the Equitable is just joint stock life
company Its capital of 100000 is legal necessity and
has BEEN the outset invested as TO cost the
Companys polcyhOlders dscounting Of their divi-
dends And nobody knows this fact better than the
officers Of tho Company which is doing its best to make
the public believe the contrary The Mutual has also
boldly asserted that its policy cancellations last year
numbered l,lsl, when. we showed yesterday, that
Company's terminated policies, irrespective Of those
brought to end by Deaths distinctly stated il the
Department Report TO have been over 1000 in 1872
Between distortions OF the truth and manipuatons Of
figures so that they shall to be that which they
not the raid the Equitable has thus far hurt those
who engineered 1t more than any one else. For the
Equitable can continue to point to its enormous new
business Of last year ISL OOOO0j) and reasseT its claim
to be the largest life insurance company in the world
Elsewhere, in this issue, will be found some figures
illustrating the progress OF life insurance in this country
We call attention to them as presenting In fair
manner the precise part borne by the Equitable and
the Mutual Companies, respectively, in this movement
And we leave readers to judge between the two
Evening Mail.