The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-10-11

n capital Of $50o,Ou0 only half million. 1t
has loaned that capital 10 very good advan~
tage. II has conjuctad its affairs very econ
omlrally. A reference to tho Ranltfra Mugs
.iac of Now York shows the following thrifty
condition Of this bank:
Capital. Surplus
Qntober /, ITO .-...,.. $5OO0O0 $lOp.WO
October 2, 1876 ........ 800 600 800, 900
October I. 1877. ...y.4....5 5000 100000
MAY l. 1873 -@ 200 900 SilD Onn
January 1. 1879 ........ 6OOOD 1.OON,DOO
July I, 1879 ............ 300 600 1,OUOOnn
October ], 1879 .. 5000 1.579OOD
We are pot ut this moment advised Of what
the divided profits, tho dividends, Of this fru
gnl bank have boon III tho meantime; but Il
national bank with half million Of capital
that after paying all expenses and declaring
dividends rs large as Il dared TO can lay by y
surplus OF $500 .DDn Ill one year. and of 100000
the next year. and of 100000 thenext. and Of
S57o,nnD IN tho year Just ended, IL in pros
porous condition. A surplus Of more than
100 per cont In year. III addition To tho divl-
delds. Ia encouraging.
SPECIALIZING IN HUMAN LIFE Tho prac-
too or speculative insurance Oh human life
sometimes brings those who indulge In it into
disagretablo notoriety. Tie numerous deaths
under suspicion of foul play have awakened
tho interest OF life Insurance companies and
the holder Of d policy Ia now Obliged to show
reasonable cause for tho death Or tho insured
before tho policy will DO paid. Tho sudden
death and burial OF n poor old man In Ieba-
non, Pa IL attracting considerable attention
III that vicinity. II seems that his lifo was
insured for about twenty Thousand dollars in
different companies. Tie policies were held
BY wealthy citizens 81 tho place as IL speoula-
tion Tho Insurance companies refuse TO pay
the policies until satisfied that there has been
no foul play, and tho body Is to be dtsinterred
for examination. 1t Is more than probable
that the man died from disease brought on
by extreme poverty and neglect. but II people
will indulge In the nbhorrent practice Of spec
ulating In human life. they must expect an
unenvIable notoriety when the death OF the
Insured seems to be attended with suspicious
circumstances.
EXCITEMENT IN New YoRK-The fever On
the Now York Stock Exchange Ii still at n
high point. Tho Wall street correspondent
of the Baltimore Sun says: Seldom, II ever,
have such crazy times been seen--that is sea
sons Ut such lopi, continued excitement and
steady advance III prices Eric Is still the
great card" aud the average buyer or spec
ulator Id the Same moves III blssrul ignor-
ance Of why II has advanced from 231s to 40
In the space of i've weeks. Mr. Vanderbilt's
purse Is generally conceded to be at tho bot
tom " the great rise. yet nothing official Is
known that such Is the case. The nearest we
can come to 1t Is that last summer MIR. Nor
veil. OF the Commercial Advertiser, when ID
London. cabled hts paper the fact that the
English holders Of Ere would probably place
Mr. Vanderbilt In charge OF tho road. Mr..
Vanderbilt was then In London, aud 1t 10
pretty certain TINT something was then talked
Of for carrying out just what Mr.. Norvell
cabled would be done. Little was thought OF
the announcement at tho time. as few be-
lieved 1t, yet evidently this very thing Ia now
in course Of contamination. In the present
upheaval Of al Erie securities and the pos
sible future OF the road these facts are worth
INTERESTING LIFE INSURANCE DECISION
The Court OF Appeals In the State or New
York has made an interesting dec-
sion In regard to tho distribution |
Of tho assets OF insolvent life tn-
surance companies. II declares that when
by becoming insolvent, makes it |
impossible for the insured to pay further pre-
miums, It breaks its engagements with the
Insured and leaves them lii the position OF I
claimants for damages: that they are cred-
tors for the present value Of their policies;
that all premium notes and credits are Offsets
against such values; that unmatured paid-up
policies stand on no different footing from
,ther unmatured policies; that aDnuitants
are entitled to receive the present value OF
their annuites, and that holders Of death
claims matured before failure of the company
nave no claim for preference. THE fact that
,ne claim Is matured gives it no preferenceover
,thers not matured. There Ia nothing In the
nature OF life insurance that gives the prefer
nee. One who has paid his money to carry
lis policy to maturity has no better right or
greater equity than another who has paid
lis money to carry q policy toward natur-
~"
MONErAKY.