The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1877-03-06
LIFE INSURANCE WOES.

LIFR INSURANCE WOES.
The life insurance system, which is no
bic one, has fallen on evil days. If it SUI
vlve the present time of trial it will after
ward do well, but at present the odds are
against it. There arc some opulent and
careful companies still in operation, but the
public can scarcely distinguish these from
those which are worthless, and the frauds
committed by the latter have done much 10
destroy confidence. The last to appear in
the column of disaster is the North Amer
ica. This company once stood well. Its
fret president was Nathan ID. Morgan,
cousin of our ex-governor, r. ID. Morgan.
Nathan was bred dry goods merchant in
Brooklyn, and was fortunate TO get 30 fine
berth as life insurance president. The
company, however, only survived his de-
parture three years and now It leaves its
train Of desolation.
ON TRIAL.
The life insurance system is now on trial
for it's life. Only thorough Gle ansIng of
this "Augean stable" OF fraud and incom-
potency can avail 10 save the system. 1t
is matter of regret that some of these In
stitutions withhold information from proper
inquiry. Our senate passed resolution de-
manding a statement of the salaries and
fees of the leading officers of the life CON-
panies OF this city, and number of insti-
tutions refused compliance. Among these
are the Equitable, the Globe Mutual, the
Knickerbocker, the New York Life, and
others. Senator Bixby, in view of this re.
oh kna -
extravaganza In the expenditure Of policy
holders money, etc. believe that lite in
surance companies are the only institutions
which aye unwilling to publish their rate of
salaries. Some, however, have complied
with the demand, aud l learn that the
North America, which hap just gone to a
receiver, paid its president Sl2 600, while
its secretary and vice president each re-
ceived SO 900; the clerks received $52, 900
in all $40 900. No wonder the company
failed. The United States company ought
to be in fat condition, for its president
has $l5 600 year. This man is certainly
well paid, especially as he is said to be
noted banker, drawing another salary al
most as large. The Manhattan company
pays $4,000 to its president. II is to be
remembered that the feea and perquisites
of such an officer are equal to one-half the
salary. The Washington company rays
its president equally well. AS the presi
dental office In these corporations is one Of
luxurious ease, might draw contrast be-
tween the favored condition Of such men
and that of clergymen, physicians and edi-
tors The best paid managing editor in
this city does not receive one-half the in
come of the above mentioned insurance
lords. The one class, however, labor in the
most exhausting manner, while the other
serve chiefly as figure heads to the grand
institutions.
OLIVER JOHNSON.
Speaking of editors, am led to notice
that this veteran has become the editor OF
the Weekly Tribune The tall tower now
contains among its leading men the Oldest
and the youngest editors in the city-Oli-
yer johnson and Whitelaw Reid. Mr.
and mind, and notwithstanding he is la
borious man is now adequate to the severe
toll of his post. That he is veteran is not
because Of the number of his years, but be-
cause men get 30 old here in all professions
Mr.. johnson was for long time an ardent
friend of Greeley, and like him is of Yam
kee birth. He has served on the Tribune,
the Independent, and the Christian Union,
and also conducted paper in New jersey.
By this time he should be able to retire.
but journalists can hardly cherish any such
expectations, and perhaps it is as we'll that
they should die in harness like Greeley and
Raymond.
NOTES ON MORALS.
The year opened thus far has been re-
markable for its revelations of social cor
ruption. This is not only illustrated by the
dark current of vulgar crime, such as the
Welspiel case, but also the abominations in
what may be called respectable life Here
Is the case of the late rich -four merchant,
Henry Shields, whose estate is claimed by
two families. Here too Ia the name of
William Virtue, formerly distinguished
publisher, who in his latter day falls into
the hands of one of those female adven-
turers which abound in this city. She cap
tivates him by her charms and obtains con-
troll of his estate, which his heirs now seek
to reclaim. These cases occurring in our
courts suggest the immense extent of un-
seen corruption adroitly concealed in the
recesses of the great metropolis. Here
crime, fraud, corruption and general de-
pravity may burrow and remain concealed
until some unexpected revelation disclose
the loathsome scene. A careful survey of
M lfa raoallp tho 1anunoiat;o To-,