, 1879-02-21
The New York Mutual Life Committee
Have to Weaken Little.
They still Maintain the 8oundncsa
OF Giving Something for
Nothing.
Continued Opposition On the Part Of the
Old Policy-aoldera.

!. Tint iustcud Of tho rebate to new members
II 90 per cont upon wholc-tlfe policies and Is
per cont upon other forms, reduction
bu made from tho tahu'hr rates VI premium Of
l5 per ecnt upon wtoc.lIfc policies, both old
and new, aud upon other forn,s proporttonato
upon m equitable basis to be asccr-
talneI BY the Actuary ani approved By
tle Trustees, or, ut tho OPTION Of
a dividend Of Tic eaulva-
lent Of such reduction shall be made |
IN additional Insurance, payable With the policy.
suyh Reduction to continue until otherwise |
ordered bY tho Board Of Trustees, it being |
understood TINT policies already taken or ncgo-
tinted under tho present rebate plan shall bo 80
adjusted br tho Aetuary as to
FULFILL THE OBLIGATIONS
Of the Company to the holders Of such policies,
and equate their participation In tie dividends
OF tho Company with Its other members.
Tint Committee, consisting Of one morubcr
OF oact. Standing Committee Of the Board OF
Trustees, be appointed TO examine into tue sys-
ten Of expenditures Of this Company, In its
several departments, in order to ascertain what
reduction ean properly be made in amy Or all,
cspevially tn law expenses, saIarics, and adver-
t!sing, md report to tic Board for i:n action.
8. Thnt, 10 the matter OF surrender values,
such scale as ahall be fair and equitable to
those who retro from tho Company should be
fixed und adontcl, and no departure made
tbcrefrom except by consent OF tho Insurance
Committee.
4. That the AEeucv COMMITTEES bo directed to
make thorough Investigation Of
THE AGENCY system
rs It has existed since the plau Of coulmu ting
commissions was Grst adoptcd by the Com
pany, Will, the Vlcw OF asccrtaaning the actoH
cost Of obta'nlng new insurance IN each subse-
qacnt 5ear, anu Of making such arrangements
for the future conduct Of the agencies as Will
secure to the company the greatest permanent
advantages under tile plan now proposed for
general reduction OF The rates OF PREMIUMS the
Committee to report to the board Tor lto action
at Tho next regular meeting.
The report further savs: "Tho renonstrants
alegc tic illegatty, injustice, nl1ti tnexpcdtcncy
OF the rebate measure. und Its anta2ontsm to
the general welfare Of thu Association. 1t may
bo proper to note TINT q portion Of tho public
controversy md apparent dissatisfaction pro-
coed from other sources than our own policy
holders, md with this controversy your Com
mlttee havo not te!t called upon to intesposc.
The COMMITTEES received
THE tHoTEsTs or 4 RESPECTABLE NUMBER
OF pultcy-ho!dcrs against tho rebate plan, and
certificates Ut approval firm much larger
number. Tho Committee hold sessions exteud-
Ing over period Of fourteen days, and great
pains have been taken to reach u thorough
md Impartial Investigation Of the mat
ter. Tho obtect!ug polic5-holders tn
Now York and vicinity werc already
organized md represented By M Executive Com
mittce. Similar organizations existed in other
cities, and the Executive Committee In New
York md like associations IN other c.ttcs ,yerc