Saturday press. [volume] (Honolulu, H.I.) 1880-1885, 1881-02-19
A Chapter ON Life Insuranoc--A Snora-
ueutO lustitutiOtt.

Probably nothing shows The progress Of the world In
social science during the last century oncnsiyoy
than does tho full development Of the principles aud
practice Of lie insurance. Before the regular mortality
at different ages hnd bean accurately nsootancd and In
connection with interest tables made life insurance
almost OF the exact sciences the crude attempts In
that direction were speculative gnmbcs or what was
hardly better, contribution box scheme where the
generous aud benevolent the losers and the
sodid aud selfish the gnincrs those who paid longest
being those who suffered at the inevitable collapse. II
Is impossible estimate the good done by fo In.
snrnncc during the last century The hundreds upon
hundreds of millions dsbursed have saved countless
families from separation widows from starvation and
orphans from lives OF dcsliinIion aud crmo and becn
lasting honor TO the dcpd who showed their for
cit lis rich legacy or them il can be said, 'Ihcir
works live after them.
Prominent among the institutions OF Sacramento,
aud one that has most excellent reputation for re.
sponShy and conservative management, not only 1T
'rhc Pacific Mutual Life Insurance Company of Cali
forna,n ltwas organized In 1867 Al that time the
representing almost every company In America, most
of them strong and Trustworthy, but some OF them
events For many years California has been shunned
h, life compaues 1t was thought in early days that
the peculiar conditions OF life on this coast were unfa
vornbc to longevity that the prlvutions aud exposure
the fever Of spconaion the fluctuations OF fortune the
absence of homes the scarcity OF the clegntng element
OF woman all combined to make the tenure of HE more
prccarious than elsewhere In America IL is only about
fifteen years since the managers Of Eastern companies
realized that circumstances had changed and that Cal
NOrnla the NATURAL nome OF health ana most IN
vting field for life insurance, but when they did they
tdal wave II was the golden age for solicit
ors, for ask to insure receive his appli-
cation II Is estimated That for several years the sum
OF nearly " not quite two millions OF dollars were ann-
ally withdrawn through agencies from thie coast. to be
invested and controlled IN the Eastern States. II wns
at this time that some " the business men OF Sat
ramcno that this duin from the State should and
could be prcventcd that In this State where cpidemics
unknown aud where capital could be invested Ms
safely and prodtaby than In any other State In
the Union, was an opening for sound conservative,
prudcntly managed life insurance association.
With them to think to act and the Pacific Mutual
entered upon Its career of usefulness.
Prominent among Its founders the energetic
and far-seeing men who inauguraod, and, in spite OF
indifference and opposition successfully completed the
trans continental railway The Pacific Mutual has gone
quietly its way, attacking no other companies and
ndia rent TO assaults keeping It's obligations and pay
ing It's losses II has paid nearly one million OF dollars
in death losses, and another million To policy oldert In
endown,ents, dividends etc, In many instances these
payments representing individual accnmua,ions that
otherwise never would have existed We cycturc to
that in the distant future, the Pacific Mutual will be
intimately associated with the city OF Sacramento as
the fire and life insurance companies of Connecticut
with the pleasant city OF Hartford and
readers that the company to controlled by the most
reliable business men of the State and its affairs con-
Quoted with economy ability and integrity Sac. Bee