, 1877-02-13
More Concerning the Two Princi-
pal Exponents Of This cefe.
brated Plan.
Testimony Of Hammond, tic Ac-
con,piisl,ctl Nyrccker" OF
tho Continental Life.
fIis Stupendous Success in
:;windltng Swindled Pol
icy-fiolders.
References 70 Dir. Frost Uhicl, Demons
strato His Peculiar .ldeas
Of rrob1ty.
Further in Regard to the Equally Rotten
New jersey Mutual.


Further In Herard To tha Enua11v Rotten
Nav yoroar Mntr.1
~'A3~1 @-"'@''
---
XAE fONIlNENIALs
HAMMoab's Evidence.
sptcias Dtfnafeh 70 7as 7feaas.
Nh" 1o7k, feo' E'-lh tnc eoht'nenta!
kue examination to-aaS' .. NJ hammond, o1
CINCINNATI known among insurance men -
professional "wfccker," gave testimony that
o4otea 1nuen surprise anu interest. tic aald IN
PAT: - was engaged " L. ". frost IN alaS,
ls14, 10 ouy poheies ior Inc company anu went
70 neofaeka' hansas' California anu afterwards
70 Tue southern states. Under wllat lsRnown as
Tue continental plan OF Insurance, certain
RESERVE Is lclt "ltl tho insurance departments
of the States in which tile Company does busi-
noss. This FcscrTe Is increased III proportion to
the amount of the rtska taken IN the gtates.
The no1tcfes ucr, for thirty rs,+. ,n1 oftor
.ha. 100 ~, "o III. a,1 .,ai, 3. a. INV, 49,
u thts class Of policies was so high from 121
to 1a3k per ccut) TINT they came
IN almost "a 1,fcl rs tho life premiums.
on *alel' tae '!oaaihg was only from - to W
per cent. by lending ncan the amount NJ
lowed for expenses, etc. This plan Of insur-
ance ia
r,ost ,n". m .u,.,. =" t@ -. r.n,,. noApshs'
Frost wns with nc In California from Scptenl-
Der, lsl4s 10 FEBRUARY, 1876. T. ran Oft from
$4,000 to $4,000 Of the California
,a,ta,, 10 n,,''. ou''sa !ol 1ne ON
p pohcy on 1ao Iontlnental
plan' h @ pa' Afterwards purchased tue policy out
noucy. patd SO much In cash ,rf1 m n,,ch n
n,cu,. +, .rot,ar t,a.,,,'s, @ ~. a. a. Asasa -
rsnn" ~ anos.Gr eon'pa"y' out tna AMOUNT
oesct McHt ocyohu " per cent ot the reserve.
which eou]d srt1n MT tp
Icy, and thls so pcr cent also covered nv cx-
pcnscs. I .ron m: i, Ncbroero .hon, sas m
Or $4,000 Of the reserve, ~ s's'''"A A0'0@ ''''''
y RAN orr BETWEEN q, Zoo, COO AND 80, 600, 600
in a1l Of tho States went to, aud understand
from Frost that was ID conc luck and do thc
same business for him IN New York and tt!o
East generally. The contract made to do this
work was signed by Frost as presIdcnt OF the
Continental COMPANY. 1 rcfnsurcl o1s,ut
- sss"V will ~'.n tue ,,, southern Lie i1nsur.
once Company. Thta Company failed a
lew months aitcrward. did not think this
Company was very good, but my Instructions
,u I'' 'nss s "lto ~ 'e'.au!c J." t"c ooutHeF'
nns' ano sc'nsuFeu everybody IN ILLS Company
'na1 was ......
In It. Mr. Frost Ind little book. when wc
vera IN aifornta ~ r. ,srta- @ ' W. ,e,n,a", Mn.m ~"
,'w %s,o ~ ,,,1,. Ia'9n'a, m IN "h'ens nc calculated
wv" wv" IL" .aa.'s w. .a ns .aos ege1y aas' anu M
Or 1000 that dny for tho Coiapany. ! askcd
him II tho Company sas very large, Ifo said
mn. tbot n wo. co,,,nsoa ~ ,,rsso,, 49,. ~, e ~
n..otso,cs rhn1 .s1a-s ~. ~ ~ ~ .'aa Ass
rhen rus cut down to $4,000. and 10 pcr cent
vi too amount OF t!sc scseFFc tlot! 'fan OIL My
salary and commission III California nlune
amounted TO ss0,oo0.