, 1877-04-27

,Is1t LoStpoSS, q, April 2o.-consoIs' money and nc
-United States bonds, ,o5r, 1oeA; 'o7s, 1o7M;
rls Mev York Ssnt:sl SO; ar'o, oH; praieFrea' 10;
PARIS, April :n--rlentes, 1887 1anc. .....
The sERscIo in the hank Of FrsHee Increased
LIFE-INSURANCE.
RIGHTS or roLlor.uoLpEns IN SURRENDER
VALUES.
IN rAs EdNc- af TAt Tribune.
DosToH. April 93.-Tho e1cuse for tho trap, or
increasing surrender charge, described In my last,
Is two.foId. Flrst, It's ags It has been practiced
for century or moro. Second. without Il there
would be nothing to hold tho company together.
The healthy members might rutire and leave tho
slckly to brenk the company by dying too fast
Ago does not sanctfy abuses; 70 shall say moth
Ing Of tho first excuse. The second Ia good to n
limited oxtent II an individual has bonnd
company To Insure him for 1ifa or number
Of ycafs for certain annual prcmiu1n,
hc cannot expect to be roeasod fron h!s obligation
undor tho contract to 70 on making the payments,
we'll or sick. unless tho company consents To It
Tho company would probably consent to 1t,
willingly, should he bs taken dangerously etck.
II would be sure not to do 50 II Lis health wna
good when he entered. 1t could not at the start
Agfco 10 do 30 without IN ndoquato consideration.
The ability Of tho company to potform its protn-
lses depends on its having Considerable number
~ a.r,t .hs.sea.. sa.r1s asars ,,,or,,ar ,.,,r,n,
T., 800 t.s,,h .ao.-h :, 80 -, w. ,,sr",.a;
,t.e =, ..ns ~ ,hns. tn,t .nr,.,n -, - 1.t no,.
.rn.,,a. aaas I,,,s a.. ..ro,.t =, ~ oh,,,,.
NV ~, - ..eo.t.,,oa x.,,h -sssonnh,a .e.ts,n.
ty, ! shall cndeAvor to explain by md by.
One thing may ho said with ccrtainty, before 60
further. As hcsltta II tho condition Of ltsuing
l'olicy. no life ca' b supposed To ho growing
charge for Fe'e''c cannot Justly 10 larger at tho
W. .,a .4t ,n 'uJ ,.,, ~ " W.
com psny th.n the lapse Of IN o,des one' For no's
than q century tho companies havo violated this
almost self+uvIden. oqnity.,
..on1s. aosuu'' ,..s s. ~ .,s..ss,u,..a" iotv
the paymeass, iHs!ilea neither an o1co.svo Charge
noi,cis. and too ,srrc m nshcr. ria nnc,,cs NJ
one.ss "na W. la1so on o.too' t"e p'1e.se y,
.%s .ses ,ouan saod aver .he % old Latin law maslm M
f*t tnodus In ftbas-eycryt thlnS has tts llts: and
Tho nithv, prcnch nrnyerb-Rien dd frop-uoth,nu
NV r,'"s 's'~'' PNs'''"7'"'*~'' W. " ''F'A0'"'7
100 n1ach'
And It Is not only In this trap, Into which the pol
aaa oeapet 'oa.
sas1o a w. mtI ~,'." ~ .,,..' a".s -.
nse tfnmped on. inc ordinary policy cove.s tho
i,fe that H. really insufab,o. A human bong il no
morn likely 10 nced Insurance, or to havo anybody
.u1or peeunisry 'os. by tho dI.eontiuuanee Of h;s
Perhaps not 10 much 10. 1nsorIng for tho .rAols
~. L too much And e.Dssia! To- II tho sa',sn.
ast ssy. enAf' ~'' 'n' years OF '"' pot
son ovst 70. foI ~ gettsf a,s r9ato1. t opRht
TO- ,S Uns 70 s1 has m y
fmaelfs the age Of Is. y his he!rs on previous
a H., T. axen * a. DeaSn9 f one * r.
sae1 a oey any ~ ee"tacs eSsso u! .n;.endee
wiz decrease ,sFs from IL she start a ,,. ..,.
,ts1e Ano'1Gf , s%inE a Fey nsenS,es 20 saS pos.
elatys, apd ths .tMx, easa ~! surrsnast sa!as
70 ~ pau 90 the retmGmsns OF tae
STIMULATED ~ tho POLICY ~ TO sam inaaFea u caso
,.a H.. ~. tnamns, ahu not .cas ~ w.
which u present make about one-tfth Of thu 1usi:
ns., 9se ~ sate 10 Ct ths c9npanass, ~ my osasrs
not satst Any Yct ~ tae.s tn!!sies eash snf.
year u tao torn. Il wll tosely puEzte ANYBODY,
Mnthenatlcsan Or onst,oss.nan. 70 Et;e aay Ieasou
ab1slu,sly stlpulase cssh 'uI!endef yalas ~ be
paid, y Tue insured e!eels 10 fecelSe II. ~ tho
ea9 o. any previous yeaf ,o;, 9; sue Mss: .A,,,,
thsy weEc naw 10 pay cam aatfehaeF ta!1es on tae
principle q returning tae net value. ot nnsar.lea
ysiae q t1e pulley :. % e,,a q the af:t ysaf,
thsre would By AZ outwasl fush that would disturb
tho value o. thelf inSS.tti9nts. That 10 Pt0oably
holders may have had 40 motive TO keen up
thelf insurance Tor SONS ysats psat out haSo boen
pfssvntsd ttou e4lEenaelihQ by Tho oxof:
bd cot down to equity, 70 insny might
apply for caah surrender ysiuaa at once ~ to en-:
tho most convertible sort. liut whatever sttcnKth
this argument has ~ to o1iht1ny rol!ees, 1t has
none whatsses a. to 1ut1rs ones. ana u has not
gust Of old policy: :hotdcrs. who hare surrendered
or wish TO surrender, which, morn than nuythtn1
enter; Also, that no one y likely To- apply fur
surrender except At the anniversary Of hls policy,
waun now pTcinlum becoulss due, 30 that tbs run
over Whulo rear. Aud beside. Tint. many would