Savannah morning news. [volume] (Savannah) 1868-1887, 1881-03-09
ANNUAL STATERTENrOFLrREz IN.
sURANCE COMPANIES.
The Mutual Life Insurance Comma.
my Of New York.

The annual statements for 1880, of life in
surance companies, with few exceptions.
show a gratifying condition Of prosperity
These institutions reflect in no small degree
the state of business affairs in general. and
when they uniformly augment their assets
and premium receipts, it may be reasonable
| inferred that the measure Of the surnlns
earnings of the community is increasing. Rnt
! while they are gauge of profits In businass
and of the prudential tendencies Of men IN
every rank of society, life policies also in
dictate the love of husbands and fathers for
their families, and their desire to provide
for them against the possible con-
tingencies of the future. Every life
policy represents an investment. which
from its very nature ought to he
| as far removed as possible from
doubt and insecurity. Safety is the element
| In life insurance without which all else "a
| worthless. But business men seem To eyer.
else less caution in taking out policies than
| in ordinary transactions, just as though If
made no difference with what comna1v or
upon what TENS they had their deaIinss
| Owing to this carelessness or ignoranee
| many life companies have fourished which
| were unworthy of recognition. They have
been the patrons and advocates of schemes
invented for the purpose of getting premi-
ums without regard to the payment of poll
cies when they matured, and by their failure
have entailed upon life insurance most Of
the abuse that 1t has endured.
Apparently needless of all the wrecks and
receiVerships that have gone before. even
now there are many companies, and some
of them by no means obscure, practioiner
methods which experience condemns. Wits
speculation at the flood in almost every
branch of business, they wish to drag life
insurance into the whirlpool. That these
concerns are apparently successful shows
how shrewdly they are managed; but to en-
able them to last, the average duration of
human life must be indefinitely prolonged.
If life insurance were less an exact science
there would be more room for ex
perimenting; but as it is, and az
1t has been proved to be, con-
servatism is the only safe guide. Purely
mutual companies have sparingly participa-
ted in all these extra hazardous plans for
alluring policyholders. The stock compa-
MES, pretending also to be endowed with
mutual attributes, but managed In the in
terest of few stockholders, seem to have
had the gift of invention quite to them
selves, excepting only the bogus inspiration
claimed by socalled cooperative and ton
tine societies. The time of severest trial for
these self-stYled "progressiven companies
will come when period of depression
succeeds, as 1t inevitably will, the
present era of business prosperity.
Then, as In years past, the public will
learn anew how much of fraud and dis
honesty underlies most of these improved
devices in life insurance. The best and
oldest life companies have from time to
time during the past forty years changed
the terms of their policies and their rates
for insurance, but always with the object
OF comforting greater benefits upon the in
sured. In many instances when effecting
needed reforms they have been met with
the frantic opposition of the very compa-
MES which now pretend to be the exclusive
benefactors OF the people.
When five years ago the Mutual Life In
surance Company of New York, the largest,
and in all respects the soundest life company
In the world, proposed to reduce its premium
rates, the other companies saw ruin immi
nent, and In unison pronounced it a wicked
and shameful proceeding. They begged for
the postponement of q day which they
deemed so fraught with evil to themselves,
and the Mutual waited. Again, two years
ago, it announced reduction of fifteen per
cent. In its premium rates, and at once the
chorus of rival companies rose In opposi-
ton. Even prominent members of the Mu-
tual Life doubted the advisability of the
movement, but the reduction was made,
and its wisdom is no longer question
ed. Instead OF endangering the solvency
OF the company 1t only added to its strength,
until now the Mutual Life has S91, 735. 7S6 Of
assets; reserve of $50, 642, 571 and according
to the New York standard surplus of
more than 81, 100000. 1t has 81, 1878 poll
cies in force, representing an insurance Of
more than $500, GOO, 900, and paid on poll
cies last year for death claims, matured en-
dowments, dividends, etc, $l3, 100, 694 And
yet, in the face OF such figures as these,
competitive companies, in their arduous
search for policy holders, claim
distinctive and benefcent features
which the Mutual Life does not pos
sess or practice. They admit that the Mu-
tual offers, because it is abundantly able to |
offer, insurance at the lowest net cost COM
mensurate with absolute security; that in |
the case OF lapsed or forfeited policies it al
lows liberal surrender value in cash or
paid up insurance; that 1t is prompt in the
payment of death claims, and not a lover of
litigation; that the conditions in its policies
are equitable to all It's members alike and
free from technicalities; that its funds have
been invested with rare foresight, and finally
that it is ably and economically managed,
Precisely In what respect a policy In any
other company is preferable to one in the
Mutual is hard to discover, unless perchance |
1t may contain more promises and fewer
guarantees.
Never before In the history OF the country
have governments and other safe securities |
been so high or the rate of interest so low. |
Money is plentiful and there is a scramble |
to invest in everything that promises bet |
ter rate of interest than that current. Old |
bonds and stock certificates which year or
two ago were thought fit only for the waste |
basket, new mines which will never reach |
the dignity Of first dividend, and railroads
which were not deemed worth the price of
the rails used in their construction, are
given value corresponding to the greed |
and ignorance of buyers. Promoters of
magnificent enterprises who know that
flush times require lively colors let the
light OF sure and speedy profit shine upon
their shares, while the risk of loss is kept in
the shadow. They manipulate the popular
pulse to sell their stock, and remit to chance
the earning of dividends. "What will pay
best?" Is the anxious inquiry, and not few |
are asking, "Does life Insurance pay?"
The answer is unhesitatingly, "Yesp' To |
the man who has a family, the rich |
man, the man of moderate means, or
the clerk whose current expenses do |
not equal his salary, life insurance
offers an absolutely safe investment, |
together with guaranty Of a much |
larger sum In case of premature death than |
can be received In any other way. But |
these cautions should be observed: having |
decided to insure, or at least to investigate |
the subject, seek information at the office Of |
the company, and not wait to be visited by |
solicitor; in procuring policy be careful |
that it is not for larger amount than can
be conveniently carried, lest the speculative |
evils which life insurance is designed to |
avoid should enter into the transaction
shun the co operative, tontine, and other |
similar organizations, which pretend |
to furnish cheap insurance, but |
whose principal business Is to receive pre- |
miums and not to pay matured policies; |
seek the companies whose assests are the |
largest, In the management of whose affairs |
every policyholder has an equal voice, and |
in which the profits or surplus accumula- |
tions are set apart for and divided among the |
members, rather than among a small body of |
stockholders; and, having become policy
holder, pay your annual premiums, and do
not draw YOUR dividends, but apply them |
toward obtaining new insurance.-C0r Nes0 |
York Journal Of Commerce.
--S<-ee s<-------
LIebig Co.'s Coca Beef Tonic
stTa far aInprior tn the fashionable and .