The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-10-04
Reduction Of Rate. ,, The NUT al Lac
$500. To,n,.,x aF Ven E

Insurance OF Neh YORK.
SeF YO5k wFokIy ESsL -
a ereat deal q Excitement and no'little
uasonfOrabie apprehension have been
Grated in insurance circles ~ The resent
arinouhceiheht that the Mutual Lie In.
suranee Company had concluded 10 reduce
its rates thirty per cent. As might have
been expected, this or any equiyalcn:
change is exceedingly unwelcome to all
who cannot or dare not follcs its lead in
this particular, and has come in for no end
Of adverse comment and condemnation;
In fact, it has already been charged with
injustice to its old members and an in
equitable discrimination against them for
the sake Of attracting new business; aud
certain parties, conspicuous chiefly for
their unfamiliarity with the facts in the
case, have rather in~geniously and plausibly
figured out Just how much the company
must necessarily lose upon each dOllar
Of premium received upon this suppositi-
|tious reduction. No degree or kind of
Misrepresentation that may be INDUCED
in will do more than disclose the
dRimu OF the company's asSailants aud
gratuitously advertise its unprecedented,
and, especially al this time, very welcome
liberality. No one conversant with the
history and unqualified resources OF this
grand old company doubts It's ability 10
reduce It's rates even more than thirty per
cent and be as sound and substantial rs
ever. An immense breadth OF base and
careful conservative and economical man
lagemsnt insure regular income and little
great uniformity In the percentage OF NJ
turn premiums, OF, a. they are persistent
IL miscalled, dividends. For many years
past the amount Of such repayment to the
holders of continued premium whole life
insunnnOs has aggregated about IS much
As the alleged reduction. In taOt this en-
inently conservative old company has
been collecting, investing and using .
much larger premium than lis necessities
| required, and has preserved entire equity
bv returning the redundant portion. So
long as this process continues with It's
accustomed monOtony, 1t made no eSSen-
| tial difference to the company whether
it collected the entire premium and re-
Maid thirty per eeHI Of II, or col
lected seventy per cent. And durinHgOO o
times ii made little difference to policy
holders. But it makeS a deal Of odds Just
now 10 the people who want 10 ~tnsUre,and
who can turn over his thirty per cent 10 a
profit in their business several times in q
year, The company-whiCh is just aS
progressive as 1t SsS th~iry-aVe yeans ago,
and a alert to accommodate Its plans 10
suit public needs, If no sacrifice Of princi-
pie is involved-pruposes to permit appli-
cants for insurance TO h~ypotheCaie their
expected dividends TO the extent OF thirty
per cent; that Is, 10 pay seventy per tent
and foreso the usual dividend al the end
OF the wear. The much condemned reduc'
ton is, it will he readily seen, no reluc-
lion whatever, nor a device TO insure new
members cheaper than old ones, nor one
whit q departure from the accustomed
usases and ancient landmarks Otihis Ven
cradle institution. There Is nothing in it
! that can iniuriously affect the financial IT,
lations Of its members, present aud pros
'pective, or ~inlovate the Interchangeable
actuarial structure OF its machinery.