, 1875-03-26

IN saying That 1soxaA was tho oldest iniaIllaut
OF tLo carth.
THE PROTECTION LIFE.
mr.. shufe'ds Returns to the Attach.
10 TIA Editor of The Chfed0o tribune:
CHICAGO, March 25.-It Is tho ovtdcnt treaIrp
OF this concern to draw mo into All argument M
to tile merits Of tho respective systerus Of life
insurance, and In this manncr to svato and avoid
tho charges Of frat,d and ma!foasauco which arc
presented III tLoso letters. 1 decline tho chal-
lengo, my eolo object being to demonstrato the
fact that thn Company In practlcing fraud and
Cheating tho public by its dishonest method Of
doing business. lilo Bystcm OF .'laud-il-
ilanl," or cooperative insurance, may 10
well enough In ttB way. whe, 1loneally admin
tHtered but that Is not 4he point. II tito l'ro-
tecton 1.ifo Ia pcFyc.ting Nil honcet principle to
dishonest ond, and procuring 1nonoy by false
IrotenHes tAen tho different plans Of life lnsur-
anco have nothing to TO with the question at
saya that "hlr. shufoEdt ignoring raat Issues.
has broken loose In new SPOT" Well, tho rec.
ord Of thia Company has 20 many Loley In it
TINT II has become utterly impossible 10 touch
u without putting Tonr finger on sore place.
do not propose to keep tcterating charges
which are not denied 10 long ~ eau 0nd nor
oues which TAU bo subssant,ated.
have. however, = word to NAY on tho subject
VI h1U lt1Aht HAlCQ HtQ 63iQ 10 u9
open to examination to prove the falstJ of ny
charge that tho Company In ]evying and collect
Ing moro money than il pays cut. Their Hystem
Of bookkeeping is such that the truth Of this
matter can only be ascestained upon special
examination, mat1o Under lilo authority Of tue
Auditor. Ia which tho examiner shall have power
TO examine, not only the books. but 10 nut upon
thor oatlls one Of two gonttomen whose names
can give, and wlo arc employed By and bayo
charge Of the Compat,y's accounts. When tie
1f3HGf titu1 6fflTcN tfnk NTAmiDntinn will In
tnade.
Wi!o On this subjec. clto the following cor
tlacate:
OFFICE or TIE I1Drlrr7 sAs,xoH pAxn, CHICAGO.
Oct. g. ls7L-ThIs Is 10 certify that lie Protection
Life Insurance Company has hts day u, tetNIt IN
.4ta hank aud subject to check arlFh, la!auce Of
94,5is2f mil tint is balance OH tie eth Of September
Last was ss2,'zt,s4. JOHN t. HA1Nxs, r1ttidcnt.
Dcsring In mind that this Company is only
Trustee acting for tho mombers; when loss &C.
ours, tlnt 1t makes the aosesBment, collecta it,
Rrises, How comes it that 1t l,aB as2. 600 on do
poHit, aud wlose money Ia it2 Does 1t belong to
tho pollcy-holders, OF is 1t tho money which Tho
Company Las mnde out Of them by oser-aaseBs-
Rild mako assessment after assessment collect
ing money aud nuttipg 1t on deposit to the credit
Of the Stockholders
Again, extract from tho Company's own rec
ord-tho Adrocafe-ttlat, on tho 9Th Of Deeem-
ber. l613, II. W. Morgan. of Albiun. ILL.,, 1ic4
hc holding policy. and At the time Of Ills duash
thore weso Iii force 8,517 policies upon which au
assessment was lnade. On the 31st OF tho BAEno
December the officers sworo to the insurance
Department that hcro xcro only 1896 pol.cias
in forco,-a decrease OF 1,l52 in seron layB.
In May 1874, the Adrocute announced that
Orrin Forsyth. Of Waukcgan, died OH the 9th
Of December, 1873. aud That, At the time Of hin
DEATH tho Company Lad III force 9, 95l polic1os
Or 1,5C6 lcss than tl.oy reported ut the timo OF
Morgaa's death, and yet both Morgan and For
eyth died on tho same day. Does Mr. Hill
lard expect mo, Or anybody else, TO understand
this kind Of bookkeeptug7 It il said "that
figures will net Lie" but It has never been sud
that the men "ho mike tie hguros are in silni-
lar condition.
It is not = matter Of wonder that these 6eutlc-
mon do not want TO raise new Issues, and iusiat
that I shnll contino myself to the old ones. I
cal only say to them that their history presents
such = record Of evasion, fraud, aud lnlauy that
1t III impossible to copdne the charges to the
past 30 much for ther ovo.assessment business.
find That owe an apology to this Company
for tlloughle6s otror III otto Of my statements,
said, iu substance, that the Company had ill.,
sued policy Of s., 500 to QUO Mrs. Dolhwich.
aud that. upon her death, an assessment Lad
promised for $3.50, and tho bnlauco OF the
money (32250} appropriated by somebody.
Upon more careful examination, / find that
said rhtbs Dothwick, who died At Candor, Tioga
and QUO for $1,000. Tue Compnny nado Al as
ecssnlent on both. and collected 20. l27, instead
Of t2, 600; tho loss wan disputed aftar sa.istac-
tory proofs Of the death had been filed. and tho
bs obliged to ask alr. Illlliard what became Of
tho 81 s777 Mas It paid buck totho poiicy.Aotl-
ers who had contributed tho money / make this
correction tho mora readily AZ Mr. Hilliasl Laa
evidently forgotten to answor tho former
ii position to account ~ for 1'si's the
whole sum. Has it gone to swell lie
stoekholaera' account Of esah on hand in tho ii.
deity Savings Dauk7 Or las 1t beeu pnid back
10 s,ta tho ,,1,; Gpof poey.hodors from whom it wa
1t IL said by tho Protection that an "igno-
rant OF tho subject Oh winch write" !. O., hfo
Insurance. ragTet that thosS men nre ~ tLick.
nk,,lled that nothing lesa than cAunon-bal can
to bo writing on the subject Of life insurance,
but am simply endearor4Dg 10 show to the public
aud tie people OF this Sthto that tue Protection
Life insurance Company Of Chicago. ~ 1t con-
ducts the business Of life insurance, IL guilty Of
fraudulent PRACTICES, and ID obtaining their
money b.. falso psctensee and dishonest means.
II shall be t4e mems Of ciYcctinE TINT object.
my end will be ohtaluol. and the Protection cau
discuss ita principles to its4leatt's content,
Tho writcr docs not stand alone iii hiY optnIou |
OF this corrupt ooncefu. subtotn few letters |
from tho Insurance Commissioners OF States in |
vhtcf, the Protection had applied for admission |
and beou refused.
Commissioner Nye. Of the Aaino Department.
says:
refused admission At tho tic for the reason that
wished to POST scf ia regard to The rlan OF tile
eolnpany Icing sssstred ly the s9c that It was not
any wss not 4ats for lbs ptopln Of Maine trust
tlsir money with. and refusca to admit 1t u,er any
ss bsss t to 10 ha.s s
,taie. 40''' - '''4'
commlseloncr rillsbury, Of New Hampshire,
sys, March, II, 18Th:
Va rafnua,S - ,},,n 4b. r.tI...t Yts. |