Daily Los Angeles herald., 1879-03-07
LIFE INSURANCE AND ITS
ENEMIES.

Life Insurance has become one OF the
most i'm poftant 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, it is the manifest duty
of the pubic and government to foster
and encourage everything of an honest
and legitimate character connected with
the general lie 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 exempify, and
rival agents should not defame their CO.
laboIers.
These remarks are sugges ted by a
movement which has been warmed into
faint life with the object of injuring the
business and reputation of the acific
Mutual Life Insurance Company, of Cal
ifornia. by the managers of certain other
Life Insurance. Companies doing busi-
ness here. There are, unfortunately,
people in the life insurance ranks who
Ieel convinced that the only way they
can build themselves up is by tearing
not scent carrion with n more unerriDg e
instinct than that with which needy and
hungry adventurers, who have crept into
the business, hunt around for weak
vided 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 a raid on the Pa
clic Mutual, as the goodly amount of
business on its books and we'll organized
agency corps are well calculated 10 water
the mouths of that narrow-minded and
nI, f,l,
look for business at any cost, gorge
themselves with all they can get, and
curse themselves because there is any
thing lett for anybodo else. Now, as far
as the evil result OF such a movement on
the Pacific Mutual is concerned, it is un-
worthy ofa thought. as that company is
too well fortified behind the bulwarks OF
financial strength and able and honest
management 10 fear any onslaught from
whatever source; but as an insurance
journalist whose desire 1t is to see legit.-
mate and well managed insurance insti-
tutions OF whatever kind prosper, and
thus prove public benefactofs, we cannot
but raise our'voice in protest against all
such guerrilla warfare, and shall vigor-
ously work our kicking machine on oil
| marauders of whatever stripe; and but
| for the fact that we have been invited to
| Join in a contemplated raid, we would
expose the names of all parties concern.
ed. But as we feel sure they must now
see the meanness of their proposed ac-
hardness in that direction, We Will spare
| them that modification for the present
and unless we see further cause for our
| application of the lash.
When Ill management calls for just
and proper criticism we are always ready
| 10 fulfill the duty OF Journalists, but un-
merited abuse and oppression Is beyond
| our sufferance, and so long as The officers
| OF the Pacific Mutual meet the obliga-
lions and responsibilities imposed by
fh cir nOsitiOQS. thew alwayS have
done heretofore, they will be entitled 10
the full confidence of the public and the
hearty support OF this journal.
Now that we have had our attention
called to the n after, we cannot allow The
opportunity to pass without saying a
word relative to the Pacific Mutual Life.
This company was organized in 1863, and
has for over eleven years faithfully full
filled all its engagements of whatsoever
nature, and at the same time gradually
developed into strcng and healthy cor
poratiOn. Its stockholders, who are
among the foremost business men and
capitalists of this State, have taken Il
pride in seeing the company prosper and
have in every legitimate way contributed
to its success, until II now has gross as
sets of over sl,25O,000 and handsome
surplus, all invested in approved securi-
ties. which yield an average interest OF
over l2 per cent. per anDum, and its year
ly income is near half u million dol.
lars.
The company has recently adopted
several new features which are well
worthy the attention of the public and
must render IL more popular than ever.
The official staff com bines 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 machinations of jealous riyals.-Ed-
itor Avalanche.