The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1881-02-19
A Chapter on Life lnsurance--A
Sacramento institution.

Probably nothing shows the progress of the world in social
science during the last century more concIusively than does
the full development Of the principle and practice Of life insur
ance. Before the regular mortality at different ages had been
accurately ascertained, and in connection with interest tables,
made life insurance almost one of the exact sciences, the crude
attempts in that direction were speculative CANDLES, or what
was hardly better, a contribution box scheme whe re the most
generous and benevolent were the losers and the sordid and
selfish the gamers; those who paid longest being those who
sufe. ed at the inevitable collapse. 1t ia impossible to over
estimate the good done by life insurance during the last cen.
tury. The hundreds upon hundreds of millions disbursed
have saved countless families from sepa ration widows from
starvation and orphans from lives of destitution and crime,
and been a lasting honor to the dead, who showed their care
for their loved ones by the frugality and self-denial that left
its rich legacy. OF them it can he said, "Their works live
after Them"
Prominent among the institutions of Sacramento, and one
sentative MANAGEMENT, not only at home, but in all the Pacific
States and Territories, is =" The Pacific Mutual Life Insurance
Company of California" 1t was organized in 1867. At that
time the Pacific Coast was flooded with life insurance agen-
them strong and trustworthy, but some of them speculative
aud ephemeral, as proved by subsequent events. For many
thought in early days that tho peculiar conditions of life or
this coast were uniayorable to longevity; that privations and
the absense of homes, the scarcity Of the elevating element of
women, all combined to make the tenure of life more precsri-
Gus than elsewhere in America. It's only about fifteen years
since the managers of Eastern companies realized that circum-
stances had changed, and that California was the natural
home of wealth and a most inviting field for life insurance, but
when they did, they came as a tidal wave. II was the golden
application. Ii is estimated for several years the sum of if
D quite TWO mlllOn OF uOilaTS was annually Withdrawn
through agencies from this coast. TO be invested and controlled
in the Eastern States. 1t was at this time that some of the
business men of Sacramento saw that this drain from the State
should and could be prevented; that in this State, where epid-
emics are unknown and where capital could be invested as
safely and more pro6tably than in any other State in the In
ion, was an opening for a sound, conservative, prudently man
aged life insurance association.
With them to think was 90 act, and the Pacific Mutual en-
tered upon its ca eer of usefulness.
Prominent among its founders were the energetic and far
seeing men who insugurated, and, in spite Of Indifference and
opposition successfully completed the trans-continentaI rail-
way. The Pacific Mutual bas gone quietly on its way, attack
ing no other companies and Indifferent to assaults, keeping
its obligations and paying its losses. 1t has paid nearly one
million OF dollars in death losses, and another million to policy
holders in endowments. dividends. etc, in many instances
these payments representing individual accommodations that
otherwise would never have existed. We venture to say that
in the not distant future, the Pacific Mutual will be as iuti-
mately associated with the city Of Sacramento as are the Fire
and Life Insurance Companies of Connecticut with the pleasant
city OF Hartford, and We can assure our readers that the COM
pany is controlled by the most reliable business men Of the
State, and the affairs conducted with economy ability and in
egrty.-SGcrGment Bee.
OFFICE OF Insurance COMMISSIONER
SAN Francisco, Dec. 10, 1880.
Nm. G. Gould, Esq, Secretary S. F, Department Pacific
Mutual LDe Insurance Company-DEAR SR; In answer
to your favor Of this date, introducing Mr.. Purgie, Agent on
behalf Of the Pacific Mutual Life Insurance Company-Of Cali
tornia, who is about visiting the Sandwich Islands in the in
terest OF the Company, asking the condition Of the Company, ]
have TO say that at the last official examination made by me
in March last, It was in q sound and solvent condition. with
valid assets amounting to $l,l77, 700 IS, and a surplus as to
policy holders of $3I2, 686 81.
/ will add that, being pleased with It's condition and busi-
ness management. 1 have taken out a policy Of insurance on
own life in said Company. Yours very respectfully,
8. &. MAYNARD,
feI9 If Insurance Commissioners.