Daily Los Angeles herald., 1879-03-13
LIFE INSURANCE AND ITS
ENEMIES.

Life Insurance has become one OF the
| most i'm mportant 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 public and government to foster
| and encourage everything of an honest
and legitimate character connected with
| the general life insurance structure oil
| 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 exenplify, and
|fival agents should not defame their CO.
laborers.
These remarks are suggested by a
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
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
somebody else down. Birds of prey. do
not scent carrion with a more unerring
instinct than that with which needy and
hungry adventurers, 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 10 organize a raid on the Pa
| cidc Mutual, as the goodly amount of
| business on its books and we'll 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 left for anybodo else. Now, as far
as the evil result of such movement on
the Pacific Mutual is concern ed, 1t Is un-
worthy of a thought. as that company is
too we'll fortified behind the bulwarks OF
financ cial strength and able and honest
management to fear any onslaught from
whatever source; but as an insurance
Journalist whose desire 1t is to see legitt-
mate and we'll managed 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-
| 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 OF all 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 tho present,
| and unless we see further cause for our
| application ofthe 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 sufIerance, and so long as the officers
of the Pacific Mutual meet the obliga-
| tions and responsibilities imposed by
their positions, as they always have
done heretofore, they will be entitled to
the full confidence of the public and the
hearty support of this Journal.
Now that we have had our attention
called to the d alter, we cannot allow the
opportunity to pass without saying
word relative to the Pacific Mutual Life.
This company was organized in 1868, and
has for over eleven years faithfully full
filled all its engagements OF whatsoever
nature, and at The same time gradually
developed into strong and healthy cor
poration. Its stockholders, who are
capitalists of this State, have taken a
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 81 ,25o,o0o and handsome
surplus, all invested in approved securi-
ties. which yield an average interest of
over IL per cent. per annum, and Its year
~ income is near.y half a 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 stan combines faithfulness.
aesment there can be BEN no % doubt Sna but what what
the Pacific Mutual will continue to grow
in strength and public esteem, despite
the emachinationf OF Jealous rivals.-Ed-
ttor Avalanche,