Evening star. [volume] (Washington, D.C.) 1854-1972, 1878-11-25


SHAT Corporations shape and MANAGE tbeiy o,ru
en%."esS, or shat their rigas dictate ana n,anage
This Company commenced business
III 1913 as a Mutual Company. and
without capital The first money it
received was IN payment of pre-
Ten years afterward, February /, sio'''
leo3 the amount at risk ....... ST., 9lT4IS 90
ana Its assets and accumuations 49,. 1850, 649 30
In June OF that year the present adj
It has issued $4,000 policies, insur
1t has Paid for death claims. on origi ''ooo0o'ooo
nal policies. 80 7OOC92 90
surance given for over premium
payments on the same called divi-
T.. den ends: 5l2l,s77.oo
surance amount to..........::...... 45.5sO,o2sOO
Bonds and and Mortgages onpropertyin
amounting to. .;:.....:.::. 57O41, 941s4
Philadelphia and this city and such
as it has purchased under foreclos-
=. uTe OF its Mortgages. amounting to- 6933 s23l9
County and City-paying interest
and worth par and over. amounting
Its gross Assets on the first OF Octo. '''''''i'o
Der. ultimo, We're s6,9I0 1868 A.
The amount now insured .......... 29903l 2S5 On
The increase of its assets i'll twenty
five years is........................, S484971415
~ rel.resents more assets than any known fiuan-
ciai institution and twenty-one millions of dollars
this city.
Its assets gre ample for all its purposes as its An
nnal Report VIII shortly show.
These are the principal figures which exhibit the
history and condition of this company II has
with cheerful promptitude, No stain it is believed
rlrhtfnly rests upon its record
VI all known business, that of Life Insurance re-
qnres the most forecast. as to future contingencies
and the closest attention to all the different prnci.
its prosperity depends. Abundant and undoWiaed
asse5s are necessary TO pay ITS claims on the one
readiness for that purpose the other is the equal
ly Important duty of maintaining and keeping in
copanies are believed to be so shortsigIted as 10
neglect this second great principle of the business
while they affect to bestoW uncommon attention to
In view of the po. sibe depreciation below the vital
Standard by reason of the unusual number of retir
Ing nelnUes during the last three years for as rule
who decide to REMAND, it was incumbent upon the
management to check this decrease BY such means as
6llrdensolAe to the existing policy OF the
After due consideration of all points involved, en-
bracinG equity, economy and efficiency. it was pro
posed that thirty per cent. rebate on the first two
c3, holders, whether old members or new.
We snould have been wanting, in proper forecast
action and prov idcd for it.
:, As the members who retired sought to sunder
had agreed to remain members for life the Just and
universally admitted principle governing all bust
to our damage, must supply the place you leave
vacant by another lie equally acceptable With your
surrender value allowed these retiring members a
sum sufficient to satisfy all the claims of the com
withdrawing and an additional sum to constitute s's
fund to replace the loss Not one penny of the
INTO that fund 1t was specific source of scctlmIl-
alton the use Of which was left to the discretion of
Whatever remains beyond that necessity viii go
purpose explained, will be like the wheat cast into
the ground and lost for time but to bear a tenfold
No measure that we know of could have been de-
yised which is more thoroughly Just, economical or
that will be advantageous and profitable to them.
This assert from full knowledge of ali the prin
results which win be obtained 'i'0
The ability OF the company to lower its rates of
rience, and We have unwillingiy taken premiums in
amounts quite beyond the necessities Of our business
to take the forty.fiye millions which have re.
d. our fRe ps lie ia
question with emphasis. We have given back from
year to year to our policy holders all that has not
question bit why should the poor man who pinches
himself tc insure his life for the benefit of his family
Z s eject to of pa s To
yolve him il unnecessary commission and loss of
the Company Shen It could not have sken pre
uns upon far cheaper scale than it has done, and
nave HttI ailie 10 return Respectable
eentage in over pay nents at the end of the year
But now when this Company proposes to benefit
its policy holders and the insuring public by re
present designs beyond that time, and in way
IN which old policy holders are benefited and not
injured, are we to be aligned and msrepresented
10y rival companies who club together to control the
cities to poison the minds of our policy holders by
false statements.
We have neither leisure, disposition nor funds 10
follow our defamers but prefer quietly to state orr
case and leave il with those it interests
We give this history and condition of the Com
these tests we are content to stand or fall.
In conclusion, we repeat the question: Shall cor
r0rat0i.s Shape and manage their own business or
shall their rivals dictate and manage il: "
Your Obedient servants
I. S. WINSTON President
RICHARD A MCCURDY, T'ice President
VI. II. &. BARTLETT, dctuayn 1t