, 1877-08-06

By .ad Company !. not fu1l patdI ~ It The home
i' saeh notee @ % q asse;.msnt, then Ind IN II inch
ca<rs said policy shsl brcomc mil and rnstl. md
Of II" effect. nnd no personal 'hilI bc entitled y
H. xfta," o,e aaea
the anrna f. md ~ so,'
If THE roLtcr r-HotbERwtsHEp TO DISCONTINUE
Its Insurance he was allowed the privilege of
doing so by paying oil assessments, etc., duo
Ct ssne.s sf hi, pe pee, 4Ssn asa ness tss &c aspany @
'es9 soe "s9render E v.las Of ~ Tho p"iIsy % The
".sIvt1enl On the policy" mentioned tn the
consumed IN the payment OF all assessments
imposed during its life. These rrern!unl notes
nrc aggregated by the Company at Noa sH-
probably thctr face vans and atsrnea ; il'tcresf:
$o3, 1885, which Is ttaIr probable contingent
worth on the basis Of Rc,,eral average. II Is
true that the legal liability thereon Is only ior
10 thc enforcement Of the eollection, Of this
wuuld hare tapsed. As ttIs lapses had not
equa!c, the new business, the Major fey iusti;;
Gci IN assuming that a similar proportion OF
thr notes wullld remain In force.
ftDl Advances on tcath-fossca. This item Is
probably correct. The dcash.losses were very
heavy ihe Was cTs atd mp anu e
settlement. They were STAYED oil from time to
tfmc, md 1t IL reasonable to suppose that out OF
the gross amount due. tho Company paln as In
.taI1sais .s1 1.5 the SUI" With which 1t Is eFede-
tiil Interest due and accrued. The Exam
iucr srascd this from ST., ,QG,. q 10 4s,:no.5S:
.u2) The items not admitted aggregate fi3;-
and agents balances. S7,Cd9, which arc lnc1-
! rllcabte, but very convenient
(l3). Now come the lIablitfcs. And hero Is
one Of tho most remarkable specimens u the
gyMnaetcs OF figures ever seen. Losses due
ui,tl unpahi. adjusted anl not due, una.lins!cl,
anA resisted aggregate a. psr po!c1es sal1So.
and tho Examiner estimates them at sloo, 500,
and 80 charges them up. How q debt Of
s5910 acknowledged due can bc figured at
s497rO md how M adjusted debt of sl1s,750,
| fss,,50, pa.scth al, huu,au understanding, TIA
man nwes note Of s1oo. he Is not apt to say
that he owes $50. On the t15,0oo q resisted
osses tLe GomEsny only claims ''aoity, t, q
tcr,niue ] the liability Il ind 15> srcep,ance,,
anu personal accounts-sns1,s due by the Com
Tor BORROWED v,.9 .%99ae; 9r Sot4r snpRise' e'e
cent nj act,1ar{cs @ tables. This TENTS tet down At
| $l1s,i11. There arc 3.A5 premium noten
sSs: e pss.es sSvsr!SE sas u Ps21s{ as i'
Wo,ooo, wsth present value * 2so, ,lol. II o.
ours to THE TEinuSE that the nct valuCY or re-
/ insured reserve, is altogether too low The Pro-
lection Insured HIVES On tho year plan. It was
| practically the famo system as that pursued by
irc-Insuraucc companies. The riska were grad-
| cd according to aEc The older poltcy.holdcrs
were obliged to psy more Than the Younger
for the reason that tho hazard was
greater. 1t is,true that on many Of the Pro-
! tcctfpn pollcy-l,o)leYs tho legal liability
was on1y 81, ,dOO IN each. Nevertheless the
Cuu,pauy sold them on the basis OF being worth
sl,250 $a,h0l, or IS, ,O0U; collected the pro rata
intttation Ice, and when making assessn,euta to
nav death losses figured the pro rata on tho
face amount Of the pollcy,-not on tho Co.n-
uany's liability OF s1,OO,-accordlng to tho ago
The iaee Of ali the policies Issued BIZ the Com