Daily Los Angeles herald., 1879-03-15
LIFE INSURANCE AND ITS
ENEMIES.

Life Insurance has become one of the
most important economical institutions
of modern times and poweriui agent IN
the accumulation of material wealth.
The vast good continually accruing 10
the public and the government Itself
through this medium, is almost meal
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 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 suggest ted by a
movement which has been warmed into
faint life with the object of injuring the
business and reputation OF the acihc
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 more unerring G
instinct than that with which needy and
hungry adventurers, who have crept into
the business, hunt around for weak
spot in which to attack a neig hbor, pro-
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 O raid on the Pa
cific Mutual, as the goodly amount OF
business on its books and we'll organized
agency corps are well 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 q movement on
the Pacific Mutual is concerned, it is un-
worthy Ofa thought. as that company is
too we'll fortified behind the bulWarlSs 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 legitt-
mate and well 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-
ton and will desist from further fool
hardness in that direction, we will spare
them that modification for the present,
and unless we see further cause for our
application ofthe lash.
When i'll management calls for just
and proper criticism we are always ready
TO fulfil 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
their positions, as they always have
the full confidence of the public and the
hearty support of this journal.
Now that we have had our attention
called to the u after, we cannot allow the
opportunity to pass without saying q
word relative to the Pacific Mutual Life.
This company was organized in 1868, and
has for over eleven years faithfully ful.
filled all its engagements OF whatsoever
nature, and at The same time gradually Y
developed into strong and healthy cor
among the foremost business men and
capitalists of this State, have taken a
pride in seeing the company prosper and
have in every legitimate way contributed
to its success, until it now has gross as.
sets of over Sl,250,000 and q handsome
surplus, all invested in approved securi
ties. which yield an average interest O.
over l2 per cent. per annum, and its year
ly income Is near y half million dol
lars.
The company has recently adopted
several new features which are wei
worthy the attention of the public ant
must render IL more popular than ever
The official staff combines faithfulness
integrity and skill, ahd under their man
agement there can be no doubt but wha
the Pacific Mutual will continue to grow
in strength and public esteem, despit
the maehinations OF jealous rivals.-Ed
itor Avalanche.