, 1876-08-14
another English Company Going
to Try Its Luck.
The Mortgages Held by Life
Companies.
,roposed New Departure of the
National Board.
Something About the General Agent---
Dividends, Expenses, Etc.
Srerfai Correspondence n TAt Tribune.

NJ" 1.nS"''! eo"P'u! ~. '"'1 ~.
debut icre-tt'e l'of,aoa anu l4aneasatFe' ln.'
Comrnny has been dolne business III LUG eoasn,
srn bfates WIN 7aIysne bueresa 'of ee.e!a'
cars a'd' Under . eohtfaet Win tao ~o1t,st,
Commercial, the latter. company has - eatfcu
onc-lnlt OF It's Southern rlsks. Inc "
aud i. has also been taksng California risks
frr eeyrral wears. It Ia q small concern com.
.n.c,, ~" ,.tth ,hc rivcrnoot nml Inntlnn. Roya,,
p1'nn nnr,, .,r1ttsh snI s,orconi,,o hi donbi.
less good enough for us eontructs, an'i, oc'ng
thoroughly EnglEsb, Is expected 10 "take" with
The p,ilic Ia the satac lavcl Ds uthor English
British instI.u.'on' nrn entitled to one. conn,
dcncc, they arc less understood tban American a,.
companies, un ll.ry demand and receive credit
far beyond their real merit. in other wor'js,
soa'as m 'seat l4ln psSeas'ns, :. f,rrr. II.
sooo netua' aasc's, IN t.,s eo..na1s @ .,nrl.
ulcics OF tho public for SO ,0Q0 upon a slnE.e
fisk, wl,cscas an American company Which sih'
tha .,,nc thfrr woul] IN rera,1lesl rs raeklcss.
r. ,,,r nco,,,c ~ ,v.s thcv wiIl learn to gtal,n
our reopae aee "he .".J VIZ n.,a rcatIvc .ralc
The English companies III tho sums 9eA@''e
as that which they IMPLY To AmeEsa', eo'E'an'c*'
TILE LIFE courAN1Es' MonTaAoEs.
There hag l,ecr a general ovurhaul'nE Of Tue
mortgages he'a W ou. roI s".,. H." ..,n,,,nr NJ
nfcs, and III Investigation '1!t" tue o'net's' w
tho securities uppn wE!lcn lMtnchso 'ohnH sIo
based III gcncral. Tho result is sat'sfactnFy. III
sS'".nu,, s"'"u s"s - To-. tho, the onount whleh
lhc seeu'ny ~ ,s,,,n', .s ,,.. u, n, tho ,o,n.
wui''t now ''e ac'nasucn' oas III ~, luz '''',s
madc by snrh companies as the Mutual 1.,te
mud E0u|tai,la since 1874 tho linntt los been IN
pcr srlsst nj The nppralscncnt, and tla is found
annie to protect the company irum loss. There
arc aotnc caacs wlcro considerable manipulation
hns been ,,cctssary 10 save tho ,colnpht'ica' IN
..f ,,{fz
pirs WIS compelled 10 foreclose u inurlEAge
,,,no a r,w OF dwellings to snclirc
u St0,nO loan. Fhot pr,pcrty fuslctl
to bring rho a,nolnt of tho mortgage,
expenditure ot $5tl, l,u>0 WIS taade to convert thu
row Into Frcnel. dsts, aud shen tla wioic was
eud fnr SIT, Ma rlcns prnat Of t15, 600 on The
oprrstlon, lcEs the loss nt interest pending the
,nortgago accurltca llcd by tho life companies
have ,lirilinIs'n:d III value 80 largely that the
e.nnpa,,i,s' assets arc really impaired. This
would bs highly important II tru!t, hut the Of
Grnls Of The eonpan1es aeS,lrn all an1tous IN
quircrs that tho suppositnn Is Incorrect. To
li,uke i. even approximately true, Tho reduction
of tic val,.e nf tle property would necessarily
bo cglnl L, the dijforeuee between the limit 1t
the law and tho original appraised vulue. The
companies here facl qusta sufo about their
mortgage Inans, and lavc followed
cIosc after tho conservative Swings l,anie
IN discriminating leans. AZ specimen
VI calltio.ls selection Of loana, It n,ny be n,et-
toned that tic Bowcry Savings uat,k Of this
clty Ias only forcclosed two 1norttng,n IL
have amounted to ncaely one hundred tnRlio.
doAarsI
TALK Arotrr TnR NATIONAL HOARD.
There Is t3cni Of quiet gossip IN circulation
nlatIys To n projected new departure Of the Nh
greatly strengthened BY tho withdrawal of seY-
sral sula!l companies, and It Is now liomogcne-
nlly loyal, though ttcre In considerable CON-
nlaining 1t tho noIl-I,oart competition. In
answer, however, to all these complaints, the
National I1oard answers: "Supposo yot1 do
tic Tue premiums Sp 20 on t'ss risks yoi reta will csuai
thoss YOU would receive o.s ui your ,h,siseas Il
r.tca were rctllced. II your risks IN ssuo 900 ut
an average nj I per cent pr'"luce ;s5,oo0 In
S1O0000 risks to produce tho same amount II
tbs rates arc rrtluccd, and willie you ars hunt
IN, ,,p the extra $2G0 ,0uD tic noll-Boa1, Com
}aics viii rl,l tl,o rutes on the original $500 00
cciielcu of this logic, tl,c Hoard Companies arc
rcttInr nervous ahU,it lie loss OF such yoInn,u
of good buslncss. They aro ilispoaed, therefore,
to c0nrc]u luru freedom 10 tl.e It,cal puart!6 Ii,
)urpr cities than ever before, uud allow more
lut{tu,lo in tt,p making OF rates THIS IL n very
frnsbn conrInsfn,,. md # viii he Tn1n-tlay III
The i3uarI When tilo ability of tue focal agcls
to make u,leuuatc rates is fully ackuowlctIuctI
llt communities control the matter ktlEDNE
tIc[r nfrel1ts will, it.le lff]!r1Ity Int tho nrb
trarY horizontal ratrs of thc National l3our,l
linye nroduccd confusion unl d,scot,tent cycry
wI,erc.
rttE GENERAL Arrsr op TIN NATIONAL, poAR1{
Prullnhly thr hest al,,lsrtl man In tim ins,,r
aIlre fraternity IN tllts country Is Thomas II
Atu,1tEuu,cfy I;cncral Agent of TIM Nattuua
i}uari uf (jmicrwr;icrs. III. Mtmtrnmcrv i,
the or,an of iii, i,anri ami ss,ra III in r,1ct,
mn, ri viii, ,. ..t T. .,," 49,, fr
~ H Httn.!tie.stu"' "N'' MA "'k e4e teHt
~ t1EutHthh w tlir !&al n'tA94 aheHts. ~
~. pcculIar WY ot MS OWN IN enforcing !'s
e.lcts too. II ttlcrc IA Local board which lie
clines to obey his orders ha dr0ps f,,to few
lca,ling agcncy ol!lccs anil tcrsua,ics tlo Scerc
taricB III tc Cunmtjcs til felrrntl, tf,o attend
lug ugeut: "ftrnso secure thn rcpnl
hv vn1Ir Imol l}n"r1 ~ thn nt,rn~,.
r,.,iI,,t', ~" a,,n '" ,,tn ~ ~. tus I' uA""' !
ItE i ~ ,tc;,nI IT,; ' h.. "o''Gs ,,,, tlta H. company
u tllat ~, y ,tleetual, , H. maKcs thc liext tc!e
sfa'n slllt stronger. VIII !hc utmost nFhn'1't'
nlnl readiness 10 Investigate complaints, he &
N,s,tltltcDy tlnltnAing TO tho lelleets Ut }Dea
artlts wfcn tlclr wishes s,utlict with tt,o xct
r,Ilrx ur nrnt,1uI,.s ri thn Natinral Unnrj viii
llnyi,ith,f. 1,nture soInctIn,cs r,I,t"s frlriin,
aIn,u,r otrrufs. Int Mr. M,,utp,,nrrv ms,,aIi,
inrrIcs liz mint. lis IA tic rTcat On..Ma;;
ruwer in Un,lcrwriting in thlt ro1,,try. In.