, 1877-08-18
Life InsErance Camnanies.

The New York NGl is much pleased at
the recent report Of the Insurance Super
intendent Of that State. This report, says
the Mall, is conclusive rs to the substan
tial solvency of all the New York COM
panies that still remain after the siftings
and examinations Of the past year. These
companies now number seventeen, and IN
every instance they report a surplus as to
policy holders more or less satisfactory IN
amount.
The journal from which we have quot
ed expresses confidence in the substantial
truthiulness of the report. 1t announces
thai the watchfulness of Superintendent
Smyth is sufficient guarantee against
such perJur,d stat, ments as the Cont
mental Life ard Security Company palIhed
off on an unsuspeeting public.
The value Of the statement OF the COM
panies depends, OF course, upon Its ae-
curacy. Ii assets are estimated on the
bed rock basis of valuation, the seventeen
surviving companies viii, for at least an
other year or two, perform their obhga-
tons to policy holders, and eight of the
seventeen report an increase OF surplus
over last year.
The nine which report decrease are
not nearly equal in the aggregate to the
eight which report an increase, the sum
total Of surplus being about 81, 100000
greater than last year. The sum total of
assets reported by these seventeen COM
panies IS sec, 0,502, ,SSl. We do not know
precisely what means are taken to verify
the correctness Of this return. The state
ments are all sworn TO, but no man can
swear to the actual and precise value OF
a piece Of property. Three experts call
ed m 10 estimate the value of a piece OF
real estate would differ in their original
estimate, though they might afterward
come to an agreement.
Ii there Is only this chance of difference
between the return of the companies ana
the ac.ual cash va!ue Of thgr assets, the
public will not be affected /; but the fact
that the value Of assets is III measure
matter of opinions, affords an opportunity
to put under oa,h substantially false esll-
mates without clearly exposing themselves
to the penalty of the law.
lie az SLY lllaiL ili NAiASANNN NSNNAN
my has been a marked feature Of hfe IN
surance mana9em, mt during The last year,
and presumes that this viii continue to
be tie case. No details Of this economy
are. given. Wheth,r the $50, 600, $50, GOO
and $4,000 presidents and secretaries
haze become more moderate in their do
nands Is not stated 1t Is probable, how
ever, that the men IN charge OF these IN
stitutions have sense enoug h not to stran5-
gle outright the goose that lay the golden
egg. =,
ihe public would soon decline life m
slnanee on any terms if the business Is
not more honestly and economically con
Quoted in the future than in the past 4
man who takes from his annual earning
few hundreds 4 year to protect wife and
child from pOv-rty in the event OF his
death. wants to be pretty well assured
that the policy he holds VII be paid when
it becomes du.. Otherwise he will put
his savings into real property, which he
can keep under his own management. The
tendency of prudent men Is IN tins direc-
ton at present, and Will certainly become
more confirmed if life insurance does not
reform itself