The Cincinnati daily star. [volume] ([Cincinnati, Ohio]) 1875-1880, 1876-09-07
Life Insurance.

According to the Ohio Insuran ce Re-
port, for 1875, there were paid in that
year to life companies OF other States
over "a, 900, 900 in premiums, large por-
tion Of which was paid TO L astern COM
panies that do not loan one doll ar II
Ohio or other Western States, being CON-
PEELED by The laws of their own State to
loan all their funds in the East. We
give one Of the reasons stated in petit
tion presented 10 the New York
Legislature in 1869, and signed by
twelve presidents OF the leading New
York life companies, asking for the
amendment of the law restricting the in
vestments OF life companies TO the State
of New York:
because 1t is impolitic and unwise.
The insurance companies of this State
New York; derive the largest portions
of their premiums from tbe other States,
especially from those of the West, ,and the
citizens OF the latter are justly offended,
and threaten to reLaliate, because the
New York companies do not loan on
their real estate Il dollar of the millions
annually drawn from the policy holders
of their section. To this consideration,
and the certainty of obtaining a larger
the creation in the West and elsewhere
OF large and increasing number of in
surance companies, competing, at great
advantage, with those from New York.
The latter are, consequently, losing some
of their best customers"
The law complained of then remains
! substantially the same at the present
time, and while we have no fault to find
with any who invest IN genuine, sub
stantial life insurance, but, instead,
words of commendation, yet we believe
that II safe, well managed life COM
pany can be found in the West, the peo-
pie OF Ohio and other Western States
would subserYe their own interest far
more by patronizing it, than by sending
their money East, to be invested there.
| By so doing, the accumulation Of capital
at the moneyed centers of the East, to
the detriment OF the West, would be
largely prevented.
Such a company we have in our own
State. The Union Central Life Iusur-
ance Company, of this oity, was organ
lied in 1867 by some of the leading busi-
ness men of Cincinnati and Hamilton,
Ohio, and, Notwithstanding the general
financial depression of the last few
years, has constantly grown in strength
and popularity, and now has assets
am0unt tlnx 10 over Sl, ,00U, uuU,
Among its present directorate we no.
tice the names OF Judge Stanley Mat
thews, John COchnower, r. S. Rust, d.
D., and Harvey DeCamp, of this city;
also Peter Murphy and Philip Hughes,
OF Hamilton, Ohio, all Of whose names
are we'll known, and sufficient guar.
antee that its affairs Will be managed
with the strictest regard to the interest
of the Company and its patrons. The
day is past when an Institution of this
: kind can be successfully managed 0nlg
in the East.
N. w. Harris, the Secretary, is ac
knowledged to stand in the front rank OF
life underwriters. Its medical depart
mont, under the management of Drs
John and VIM. B. Davis, Is managed
with the most scrupulous care; quality
rather than quantity of business. being
their motto. This is attested by the ex
ceedingly low rate of mortality OF the
Union Central, as compared with mos
other companies. Mr.. Cochnower, It's
President, and long known in this city
as one of Its most successful tinanciers
gives special attention to the invest
ments OF the company, and the high rate
} of interest realized has enabled it to re
turn a larger average dividend to its pol
icy holders than has been paid by most
other companies.
AS the Union Central grows older
and compound interest becomes NOR
distinctly realized, it will be enabled t.
return larger dividends than any East
ern company can pay. We advise
especially, all Western men. TO examine
: the Union Central before insuring else
I where.