St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1878-09-06
GFrom the Boston Daily Advertiser.
Life Insurance.

| Lie insurance.
The New York Times, in a series of
articles, has presented its theory in re-
lation to life insurance. 1t begins by
noting its decline. By careful figuring,
it makes the assets of all the companies
to be eleven millions of dollars less at
the close of 1877 than they were at the
close of 1876: that is, the assets at the
close of '76 were more than four hun
dred and seven millions, at the close of
~ they were more than three hundred
and ninety-six millions. 1t is not as
painstaking to compare the decline of
the assets of like amount or of any pro-
pOrtiOnate amount in any other bust
ness, and forgets also to name the less
ening of liabilities. The fact remains
that it is strange beyond account that
in such Il year as the one just passed
the grand total of assets did not de-
crease four times the amount named,
and so they would have done but that
the securities selected by the companies
were taken with excellent judgment.
The expenditures and eXtravagances
in doing business come in for their
share of apprehension. This kind of
talk has become chronic, but every new
writer PUSHES for a new patent. There
may be exceptional cases, but the sal
aries paid to officers of life insurance
companies are smaller, if the magnitude
of their respective trusts is considered,
than to any other salaried men, and the
expenses OF a first-class mutual life in
surance company, in proportion to the
amount of the business and profits paid
its pOlicy-hOlders, show Il smaller per-
centage than those of any other cOrpOT-
alive or even any large mercantile con-
Germ. 1t will require the capital Of
twenty banks to make a sum equal to
the resources of large life company,
and the salaries of the bank officers will
be five times as much as those of the
company.
The salary of many an agent, whose
concern represents less than a couple of
millions of dollars, is treble that of
president of IL life insurance company
whose assets are nearly fifty millions.
There are boOk-keepeIs and third and
fourth partners in mercantile houses
whose separate salaries are larger than
is paid the secretary of large life COM
pany, and the duties and responsible
ties of that secretary far Outnumber and
men. 1t is no argument that a life
company is trust company, and so its
business should be cneapIy done. The
argument really is, that the best of men
should be chosen and the best of sala-
ries should be paid. There are people
who would be willing to accept the po-
sitiOn of the President of the United
States at a smaller figure than Mr..
Hayes receives, and not to be too par
ticular, would take that of president of
a tiOurishing life insurance company for
a fair consideration. 1t only happens
that neither Office is to be disposed of
to men of their calibre.
There has been of late general con-
fusion in business, failures where thew
were least expected, defalcations and
Irregularities by people high in trust.
There has been depreciation in real es-
tate, and much suffering in the market
of manufacturing stocks. But the stall
wart life insurance companies are, from
the force of circumstances and the law
OF internal management, stronger than
they ever were. We can imagine the
quiet contempt with which the officers
of first-class companies read the dia-
tribes of writers, in all parts of the
country, who are us ignorant of their
unmeasured reliability us of the gran
deur of life insurance business syste-
matically conducted. A paper, know
ing how readily certain readers sympa-
thize with objections raised and plans
denounced, talks about the decline of
life insurance and cites little references
that are statistical, but does not know
to give the great facts that redeem as
PERSONS. The decline of life insurance
A man may as well prate of the decline
of the sun. A few clouds at times pass
over his disc and he is said to set at
night, but he, like life insurance, glad
dens all the earth.
No transacted business of whatever
nature has been subjected to such scru-
tiny, and no human institution is so |
well able to stand it. There is not to
be named a cooperative power that ap-
proaches in point of security first
class life insurance company. There is
not system that in this hour of gen
eral depression is working so much |
good. By way of distribution of mon
eys, now so much needed by those who
have held longtime endowments, or by |
the families of those who in time pro-
vlded for their own decease, the life in
surance companies are proving their
worth. Before us is the list of pay
ments made i'll this last month of July |
by one company only:
CONN. MUTUAL LIFE INSURANCE Co.
HARTFORD, August L, 1873.
Memorandum of payments for death
claims and endowments for month end
ing July 81, 1878:
-ENDOWMENTS. DEATH CLAIMS.
July 1, 5000 July 1, $4,000 90
BIS 2, 4,017 90
., 1000 3, 1900 90
5, 3,l7O 5, 5,247 90
6, 1000 6, 1000 90
9, 1902 8, 1882 90