Daily Los Angeles herald., 1879-03-05
LIFE INSURANCE AND ITS
ENEMIES.

Life Insurance has become one of the
most impoI tant 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 meal
culable. Hence, 1t is the manifest duty
of the pubic 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 S,ayy for the good of me
rival agents should not defame their CO.
laborers,
These remarks are suggested by
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
| leel convinced that the only way they
| can build themselves up is by tearing
somebody else down, Birds OF prey do
| instinct than that with which needy and
hungry adventurers, who have crept into
the business, hunt around for weak
| spot in which to attack q neighbor, pro-
| 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 u 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 movement on
| the Pacific Mutual is concerned, it is un-
worthy ofa thought. as that company is
| too we'll fortified behind the bulwarks 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 legiti-
| 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 yigor-
ously work our kicking machine on all
marauders OF whatever stripe; and but
for the fact that we have been invited to
join in a contem plated raid, we would
| expose the names fall 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 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 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-
tions and responsibilities i'm posed 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 after, we cannot allow the
| opportunity to pass without saying a
word relative to the Pacific Mutual Life,
! This company was organized in 1868, and
has for over eleven years faithfully full
nlled all its engagements of whatsoever
nature, and at the same time gradually
developed into strong and healthy cor
poration. Its stockholders, who are
| among the foremost business men and
capitalists of this State, have taken
pride In seeing the company prosper and
to Its success, until 1t now has gross as
sets of over Sl,25J000 and a handsome
surplus, all Invested in approved secu ri
ties. which yield an average interest OF
over ~ per cent. per apnum, and It's year.
~ income is near'y half million dol.
lars.
The company has recently adopted
several new features which are well
worthy the attention of the public and
must render II 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 rivals. Ed
itor Avalanche.