Daily Los Angeles herald., 1879-03-02
LIFE INSURANCE AND ITS
ENEMIES.

Life Insurance has become one of the
most important economical institutions
of modern times and powerful agent in
the accumulation of material wealth.
The vast good continually accruing to
the public and the government itself
through this medium, is almost incal-
culable. Hence, 1T is the manifest duty
of the public and government to foster
ard encourage everything of an honest
and legitimate character connected with
the general life insurance structure of
this country.
Legislation should not be onerous, the
public should not confound the good
with the bad, rival companies should
work in harmony for the good of the
grand cause which they exemplify, and
rival agents should not defame their co.
laborers,
These remarks are suggested by q
movement which has been warmed into
faint life with the object of injuring the
business and reputation Of the Pacific
Mutual Life Insurance Company, OF Cal
iforn'a. by the managers OF certain other
Life insurance Companies doing busi-
ness here. There are, unfortunately.
people in the life insurance ranks who
leel convinced that the only way they
can build themselves up Is by tearing
somebody else down. Birds Of prey do
not scent carrion with q more unerring
instinct than that with which needy and
hungry adventurcrs, who have crept into
the business, hunt around for a weak
spot in which to attack neighbor, pro-
vlded there is the least possible chance
Of prospective gain, no matter what the
consequences be TO all except them
selves.
On this principle we can account for
| the feverish desire in the quarter we have
designated to organize raid on the Pa
cific Mutual, as the gOodly amount of
business on Its books and well organized
agency corps are we'll calculated to water
the mouths of that narrow minded and
envious class which are mean enough to
look for business at any cost, gorge
themselves with all they can get, and
curse themselves because there is any
thing leio for anybod0 else. Now, as far
as the evil result OF such q movement on
the Pacific Mutual is concerned, it is un-
worthy ofa thought, as that com pany Is
too we'll fortified behind the bulwarks of
financial strength and able and honest
management to fear any onslaught from
whatever source; but as an insurance
Journalist whose desire 1t is to see legit,-
mate and we'll mans god insurance instI-
| tutions of whatever kind prosper, and
| thus prove public benefactors, we cannot
but raise our voice in protest against all
such guerrilla warfare, and shall vigor-
l. ously work our kicking machine on all
marauders of whatever stripe; and but
| for the fact that We have been invited to
join in q contemplated raid, we would
expose the names ofall parties concern
ed. But as we feel sure they must now
see the meanness OF their proposed ac-
tion and will desist from further fool
hardness in that direction, we will spare
them that modification for the present,
| and unless we zee further cause for our
application of the lash.
When Ill management calls for just
and proper criticism we are always ready
to fulfill the duty OF journalists, but un-
merited abuse and oppression Is beyond
our sufferanco, and SO long as the officers
of the Pacific Mutual meet the obliga-
lions and responsibilities imposed by
their positions, as they always have
done heretofore, they will be entitled to
the full confidence of tho public and the
hearty support of this journal.
Now that we have had our attention
opportunity to pass without saying a
word relative to the Pacific Mutual Life.
This company was organized in 1861 and
has for over eleven years faithfully full
nlled all its engagements of Whatsoever
nature, and at the same time gradually
developed into strong and healthy cor
poration. Its stockholders, who are
among the foremost business men and
capitalists of this State, have taken n
pride in seeing the company prosper and
have in every legitimate way contributed
to its success, until 1t now has gross as
sets of over Sl,259,0OO and a handsome
surplus, all invested in approved securi-
ties. which yield an average Interest nj
over IL per cent. per annum, and its year.
y income is near y half million dol.
lars. N'-
The company has recently adopted
several new features which are well
worthy the attention of the public and
must render II more popula ar than ever.
The official staff combines faithfulness
integrity and skill, ahd under their man.
agement there can be no doubt but what
the Pacific Mutual will continue to grow
in strength and public esteem, despite
the emachinatfons of Jealous riyals.-Ed-
itor Avalanche.