New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-12-16
RATES OF LIFE INSURANCE
SHALL NEW MEMBERS PAY LESS.

SHALL NEW MEMBERS PAY LESS.
THE MUTUAL LIVE sIRIKEs BACK EFFECTivELY-A
VIGOROUS LETTER PROM ITS PREsTDENT-sBALL
THE COMPANY BIZ MANAGED IN IT'S OWN INTER
EST OR IN THAT OF ITS RIvALsf
On Saturday THE TRBUSE gave publicity to the
fact that a remOnstrance was IN circulation among
polcy-holders of the Mutual Life Insurance Com
pany against its present. rebate to new members.
This has never been presented to the company. bal
n copy having been shown to the president, he ad'
dressed the following letter TO one OF the signers
alluded to, and it is now printed tor the lnforma-
ton of such may be applied to to give their sig
natures to like documents:
PRESIDENT wINSTONS LETTER.
OFFICE OF THE MUTUAL LIFE INSURANCE COM ]
PASY or NEW YORK 1910
NEwYORK. Dec. Q, 1872
DEAR SIR: am indebted to your courtesy,
through valued friend for copy OF paper intended
when signed TO be protest OF poicyholders against
measure now IN by this company which permts8
rebate Of 80 per cent first and second years an-
nual prem ums wnoleli!e policies.
The principal points made in this paper as the grounds
Of protest, are:
l. incxpedlency
2. Doubtful legality
Q. Derogation OF rights Of old members.
4. Ineduity.
o. Insurance below cost.
g. The form II voucbers
beg to assert that the course pursued Is:
1. Expedent.
2. Legal
8. To the advantage OF old members and in nainte'
nance of their rights.
4. strictly equitable.
g. Ii IA above cost and
g. That the voucher is proper form OF evidence that
the insured and not the agent gets the amount OF re-
bate
further assert in all courtesy that each and every
contained in the paper Intended as
protest by the facts. and that, there
FORE the reasoning faacous and tho conclusions In
correct
Ipresume no one will question the intention Ofthe OIL
GERS and Of the company TO conduct its affairs
for the best advantage OF all its members. Few VIII
charge lack OF knowledge OF their business or want OF
expere in ging It, This measure was not has
ty adopted ORIGINATING with the executive officers, 1t
was matured concert with the actuary, unedy sub
mited 10 the Committees Agencies and on Insurance,
10y each ~ such committees unanimously rec0mm nded
To the hoard and the Board Of Trustees unanimously
adopted We know that the officers. agents and ennis
saries OF other companies are active everywhere
in endcavoring 10 cow distrust aud stir up
strife among our policy-holders 1t is they
who have inaugurated this movement OF opposi-
ton in all its phases and their creatures by the score
are sent forth 10 get signatures To such documents as
this protest and o. threaten appeals I" courts nd egs
latuTc,. IncY playing malignant but perry game
whi,b when you understand H. you ana other honor
or SIGNATURE They have expended good deal 0f mis-
placed energy and spent good deal Of other poo
pie, money bus the result on our inemDors Is but as
a wave on the surface Of the ocean, while the great
depths below remain unm0yed We are grateful to
know that the body Of the members Of tins company
give now IA they have DONE their confidence 10 s
management. However respectable tho comparatively
few individuals who allowed themselves To be dis
turbed by interested officers ana dsingenuous runners
for other companies, cannot rs matter OF justice
permit them % IA from our course while the
much larger number Of potcyholiers who are inter
c,ed I'm a FAR arecr amount ~ Insurance express their
approval ana ympahy with this concession, and viii
earnestly demonstrate against its repeal.
Broadly stated them the question Is this: Shall The
officers and trustees OF the company be suffered quietly
and ntcllicenty test the suits Of system which
they believe 70 sound principle ana equitable In
practice, shall they DE h1nvcrd and obstructed and
the work the polcy-holdcrs have set them TO do be
brought naught by factious opposition, stimulated by
business rivglsi
THIS Is the whole question.
The officers OF this company recognize their para
mount duty tho existing momb,ro OF tho company.
The, are resolved thnt no Injustice Inequty shall
p-actIscd any. But they believe that e insurance
company like every other business enterprise II 10 - to
he prominently successful must 60 ahead II cannot
ST stl and continue make large additions 10 s poll
C cs by dividend. The officers profess their undertaking
allegiance to tao they permit ed to represent
They prefer such ability they may have becI en-
dowcd with. such experience as they may have ac-
qlred aud sucn Industry tucy capable o', I'm he
half Of these interests and with full recognition Of their
r. pom, biiIv they claim the reasonable opportunity ~
demonstrate IN the future, they have done IA hc
past tIe proproly Of their course.
do not discuss the nun efous msStatomens aud
erroneous assumptions which the document YOU have
kindly furnished i based. do not Give that Any
satisfactory result Do achieved Dy sucn mt,f-
chang. OF unsupported assertions and arguments on
either sldr hul YOU Of the Oldest paNct-hot-
.r- IN the company, whose policy, Tor $1,000, issued
February .. 1913, Is now credited, WITH add u"us
amounting 10 90 g2G making. Tor an investment ~
$I.G7I In pr-mums paid, total insurance
ol 81 1926. ask the same confidence the company
you extended heretofore taIrt! i've
and upwards. Very Truly yours,
L. :. WESTON. President.
p s-Any protest other document from the policy
holders o; the company will be received wiki respect.
and treated with all due couricsy aud consideration.
MiDAiGHI UEA IHER REPORI.