The Portland daily press., 1873-06-14
From the Chronicle of New York;
The New England Mutual Life Insur-
ancp COmDany,

If steadfast adherence to sound principles
and patient continuance in honest practices go
for anything 10 this tawdry aud unstable time,
tLen the New England Mutual Life Insurance
Company deserves well of our people Organ
lied in 1885 with guarantee capital of $780,
600 (which was retired as soon as it had served
its purpose in strengthening the company dur
ing its early history, it was among those few
life insurance. companies which contended
bravely with the prejudices and ignorance of
that day, and are reapng that rich harvest of
their faithful and toll some huspandry.
This company has ever been conspicuous for
its carefulness in investing the trust funds COM
mitted to it, its thoroughness in the selection of
lives, its economy of expenditure, and its disn-
cination to follow new paths and experiment
with new plans, simply because they were 'aeao.
From first to last it has steadily adhered to the
principles and rules which were marked out by
its projectors. OF what character these were,
may be be judged by the following extract from
the first annual report Of the company, made
by the Hon. Willard Phillips, its then Presi-
dent:
SIT has been the endeavor of every one con-
company to represent the subject in its true
light, and not to excite Over-weening expecta-
tons, or encourage the notion that snch an in
stitution offers its members the means of EXTRA
or1inary speculation. The object is equality
among its members, and a participation In the
advantages of the company, whatever they
may be, in the proportion to the amounts con-
tributed; and it is no part of the plan that
some shall be benefited at the expense of 9TH
ers. There is every reason TO anticipate that
the holders of policies for life, who survive just
the period of their expectation at the time of
being insured, will have made good invest
ment Of their premiums"
This policy has been faithfully pursued by
every administration. and that the insured hare
made "a good investment of their premiums"
is shown in the fact that, after paying out dur
283, the company had, in solid assets, $10,811,-
416, with total liabilities, inclusive of per
cent. reserve, of SO, 610, IT'S, leaving surplus to
pohcy-holders of 81 ,20063S
But this does not tell the whole story. That
reserve is not only mathematically but actually
sufficient; and that surplus exists in fact and
is no mere product of an actuarial incubation.
The company's securities have always exceeded
in market value their cost; its rate of interest
received has always exceeded by at least one
half that assumed; its expenses have always
been below the loadings of its premiums, and
are steadily diminishing; its mortality has
uniformity been less that assumed, and its
management-wel we can say no more tnan to
say that its present officers are of the same ex-
cellent and durable material as was its first
management
These things being true, its future is as sure
as its past; its security is beyond question, and
its new and yet greater successes will add ma
terially to the good name which it has already
won for itself and for life insurance.