New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-01-04
yovEL INSURANCE METHODS
,vs Of THE ACKNOWLEDGEMENTS LIFE.

AnT y. ut
h0"' I1,,on A. Co. dealers in stoves ana l""e'' az
200 water-st insured his life some io'i' ,,aroo
Nv ears ago in the KuickerbocKer i"o - ,-o,rD
"n,nsny for $4,000 in two policies me-, oil the
1aid pocies aud Mr. Richardson Se - pn,o,,er.
narres on them in the next ten !,'o ita character
,aarer COMPANY is mutual aecoru'ns 80 ~ No
booAu' ,,.sSs,', has had several premiums vi Do
anu vs. ~, vas much surprised to receive the io'io"
ing note; Nrv-yopK. Dec 49, 1881.
HENRY A. RTC I 1SS nio S that your polcy No
192g is charged with divdondS 'h9 1 lnt' no witch
b'9'V II dat@ in the sum or 80, w, WI"
on r' 70 by YOU either in reduction of premium T6
reduction OF notes OF T." the extraordinary dtc-h
OF ne Gr 81 Laws OF NewY or FOR Sd2 read.
VISION iiics NAV be charged with loss 10 me tNleut
ihk bat, been credited with profits ploNus Nv ~ tbo
ny inrs9,te s has decided the principle that every
ii, holder must regard this charter fInt ano
IoI',ncnt Of II removes any question OF inc c9Ipi;n
ioiS,y and enables it TO meet its remaining haohueS
IL i I is demanded of you by II o'clock noon
p<erject on ,our part ia al your own peril &, o.,
m. CHARGE can be mct-Flrst ~ paNi ~ .'IL
Iha' b irr,ing note for amount; third nv changing
,irv me balance OF reserve och- N,SuVt vi itS ,or
Pc In calling bring policy ana lll palSrs WIZ nol
p2,n f,io,ying pohcy-owncr' have. on the merits oI
enc case changed their policies, and many o'hc'S '0
p@ia IN t E list Of Names with figures opposite in
Sa,in- apparently the amount OF the policies. Ihere
were in az about S)0o'ooo
Nc eN
teDdeut" Below the name was, Further particulars
can be given only to policyholders benehcares III
rst.,a in in'sryiew at above Ollie. No letters.
Another circular exactly similar this was received
:, NJ richardson for the other policy Of $4,000 Inc
amount to pay on il was $7S7 Ga
Mr. richardson was surprised by these notices Jom
Nichols ne president of the company, was personal
,d nj Its however and he thought that such notce
,pld NOT DE sanctioned by him. The next DAY ne az
,nv went into the Office of the company at No. 239
broadway and asked If he could see the preSuen' MI
Nichols was ont.
81 ,beD asked clerk" said Mr. Richardson TO
rR1R1ryE reporter yesterday. " If the company
VS. ip.o,yent HIS answer practically, yes
,ecbnicsUy no. After having shown the no
lice 10 the clerk, | went away ms ulo ho' nave
the time 10 wait for Mr. Nichols. Imagine my surprise
therefore when received the following note day or
two aftcrgard:
KxIcErrrocKrr LIFE Insurance CoNrNEY OF
NFw.YoBK No. 239 BROADWAY, Dec. D. ISL
hhEIi 81 Withdraw tie invitation sent youto visit
me have learned since that you were squeailSn
grandmother you would rather listen to vanished
remain fool long you please will not disturb
'O'' J6srrn L. Toru>M
"I was more perplcxed than ever at this note, and
went up TO the office OF the company; showed II
70 some one there, the secretary | think He seemed
surprised and said that he wished c@ud
see Nh Nichols 4sked HIM II Mr.. IoPnam
there and nc replied that Ms oIce was IN me As3
HOUSE to'd hlm that all of er- OF the company ought
to have their offices in the binding lconld not var loF
Mr. Nichols ana 50 went away. The next thing heard
wac the following note;
II. 4. RICHARDSON, esq. ,..
head: il Is soft pnebud il up wlh hickory aud YOU
will u5. run Ike a pulling school boy I" the oihne.
Of tue company WIN any eomVlolhts ag'i4st
me. BE man. Henry, and face a man. also
your just liabilities to the comaDy anna nor nay, Ni.
solved. Il is men with the formation Of Dram that you
have aud who have little money that are insured to
soucc.. hard that the entire orange slips through
then fingers H. A r. send COPY q" TINS ir{ier 20 thT
C1mpany-d0 DO You want 10 hjuIe poor utu' ''I
Knickcr6ockel "a am of you and for ono little reason
Yours. witG The compliments Of the season.
JosErH H. TorHN
oTbis note astonished me more than any had vet
received howeyer 1t Is 5D3tt L|% TtG o 5ct 'Hf
two letters 10 the c0mpauys Office J have received
Jol A. Nichols. president of the KuickeIbocker Com
pauy, at IFS office YESTERDAY afternoon "dt hG ASKED
Nichols, VINO is an actius Vcc'nresocnl SAID
am surprised tlat Mr.. Richardson has seen III to
make the matteT public. 1 saw him wien he came ln
here the >ccond.timc. and me- showed mc one OF Mr..
1,b,,.,- notes told him that the COMPANY entirely
repuiiacd that kind of solicitation, and he said that me
,u.d ,. he vaud come 10 our house some night and
tS over II any other policy owner brought that
note ia. il would have been attended TO mucdi-
ately. I'm MI Richardson's case l. supposed,
ha- had GOOD many hard knocks IL the past and It
doesn't help it any 10 have any more Ar lophdm mas
been very successful ia AIs work. although tAesc Two
urr, Of his are rather remarkable. sh1ul0 almost
think that he had occasional attacks OF noncomo,I
or That ne drank. stih have seen MIN d" some oil he
work, and uc conducted himself n Inc most stiiIehahF
is Mr TopDalo stin in the employ Of the company"
lie has not been dismissed
MI Tnp.4.I. Was found at the Aston House. He is
pleasant man TO meet Of about lorFANc years rather
rofIud ana with a full beard OF fiery red.
Ihe knlrAerb0cher Cohl'a!| was S"''9 3 ~
1898" lac said III reply TO question IAe mrs. PfSsi-
term of affairs of the company were managed
with great extravaganza. There were many Dad loans
made anon property which had to he taken dlJtrWaId
upon foreclosures There was some fraud too probably
Besides tins tie business of the company was extended
NY CaV
Gulf states and policies taken there at the same rate a.
IN Inc Northern States, although the death rate Is nuch
greater Tie yidends of the company however were
high time, and large sum ol money Was pad out
mutual company, You understand. II is these
premiums, you understand, that we are trying to
Inc company in 1874. he found its affairs in very bad
shape. He went right TO work however, ana ran 1t
wisely aud economically, reducing is expenses greatly.
In 1876 and s77 the State superintendent OF Insurance
eA@eI iTrmry Shortly after tis the company
gave up actively soliciting new business ana confined
ION January 1. $50, the state superintendent re-
0urod the company gave up entirely soliciting bust
10 deduct on the death Of IOicy-owner the amount
OF premiums had paid him, II liz losses required IT,
pany on a good financial basis. IL was de-
ternined ask the poLcy-hOldeIs II
Of havins them deducted from the policy when
they died 1t was simply question OF expediency
and TIE pos dividends might Offset the present
srsslncIis Low much money do you suppose they
would receive If receiver had been appointed for the
cOmpauy Not 500 the way recelrcrSnips are run now
was hired two three years ago, 10 travel about
the country 10 these pohcy-owners, and
Law the case before them Hundreds OF them
men of standing too have consented to
pay bac the premiums to give notes for them to be
deducted from the amount paid at death. MI Nichols
paid back premiums received. IL is only million
iii. it harrison tat raise row. ldOHt know
him. but what made mad was the iac that he SAID at
the oxford tub Brooklyn, that he WOudut 20 10 see
VINO wrote a circular. Those letters were
purely personal 1 am independent Of the KncEer
DOcEe. Life Insurance Company, and wont nave any
1uu talk iu That way. IL takes these Old shnHLt, 10
"A
The company las now about 5000 lie policies and
200 OF 300 other policies, Ii s getting IN good shape
ana u We advance III TINS WORK nave IL the pas,