The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-07-26


rate than can be obtained for 1t on demand
loans. The large subscriptonito the four pei
cent bonds, which have to be settled In gold
has created a demand for gold sufficient tC
keep the price up to 1907 to zoos, and this In
the face Of q weak and declining market for
bills on London. All the doubts that exist
ABOUT the importation OF gold before the close
of-August arise from the condition of the
Bank OF England and the London money
market.
A Western exchange asks the question
when ice is hard to procure by any other
means, why not draw upon the glaciers and
icebergs for a supply2 We have noticed a
proposition, made by somebody not long
SINCE to blow up icebergs with dynamite and
transport the fragments to the temperate
zone. Apropos of this subject, the Olympia
(Wyomng Territory Standard announces
that q company has been formed at Seattle to
bring ice from glacier at the head of Hoods
canal. The deposit covers a number of acres,
is seventy or eighty feet deep, and Is supposed
to contain 100000 or more tons, some of which
may have been there as many years. The ice
they can cut and sell at IA cent pound, and
by the ship load at SIS q ton.
The principle Of life insurance, says an ex-
change, is about to be subjected to fresh ex-
pertinent in England. Hitherto intending in
surers have had to run the gauntlet of an
examination by the medical examiner Of the
life office, and, If accepted as healthy, have
had to bear through their remaining years
the burden of the yearly premiums. But
now all this Is to be altered. There are to be
no medical certificates nor yearly premiums.
The only requirements are the applicants
own declaration that he Is in his ordinary
state of health and Of a certain age, which
must not be under twelve or above thirty
years, and single small money payment,
which is to be nothing more nor less than a
share in bank, with the only difference that
the dividends instead Of being paid half
yearly, will be funded or reinvested, to be
paid as the sum OF life policy at death
The promoters of this novel idea. basing
their calculations on the profits made by the
principal joint stock banks, claim that, with
an average death rate among the sharehold-
ers each G5 subscribed will produce q life
policy of about G96
The Insurance Chronicle has an able article
upon the condition of the life insurance COM
panies, from whichf we take the following
paragraph. In spite of all the stealing and
NAAO S-AOhf''s's5S"iASC VI biiC pttog, LS
show most successful management:
These companies have received. in round
numbers, 100000, 900 in premiums. They
have paid pOlicy-holders $5O2 2S5 646, leaving
nearly $29S,000,000 to be accounted for. Their
investments, which are to help out future
premiums in paying the 81, 1868 00O, 900 of in
Surance outstanding, amount to over 1885,
100000, exclusive of capital. There are, then,
over $59,000,000 invested or returned in excess
of what has been in premiums. We have an
account standing as follows:
POLICY HOLDERS IN ACCOUNT WITH LIFE IN
SURANCE COMPANIES.
DR.-To amounts paid for surren-
dered policies, death claims,
matured endOwments and
dividends .................. $500, 49,, GAO |
To amount invested to meet
future obligation ....... 356, 245, 1881
s858531, O27
CONTRA.
Cr-By premiums paid ........... 1885,, 121
Balance to credit of compa-
MES from interest S59573 COG |
Nearly sirty millions of dollars above all
expenses saved by interest on the invested |
premiums.
The San Francisco Bulletin has this to saw |
about small exchange in California:
Just now there is a curious mosaic of ems. |
toms in California with respect to change. Tn |
early times no miner or business man ex- |
pected to give or take the exact change. Any |