The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-01-07
THE TONTINE DISCUSSION.
The Tontine Companies Ask to Have
1t Stopped.
President Greene, of the Connecticut Mu
tual, in Spirited Reply, De-
clines to Stop.

this city, called at my house last evening, on the
arrival Of the train from New York, whittier he
said he had been called the day before by an
urgent dispatch signed by two Of you; that he
had conference with you. and that. at your
joint request. he was the bearer of certain prop
ositions He said that you had learned that
was about to publish an article in the newspa-
pers renewing discussion on Tontine insur-
ance in which your companies and your
selves were Interested that you did not wish the
article to appear. and that you, each and ell.
had authorized him to say to me that if would
stop its publication you would stop the attacks
which have been so long In progress against the
Connecticut Mutual Life Insurance Company
and myself; that you regarded any further dis
cussion and controversy as injurious to business;
that you had had enough of it and desired peace
and that if l would stop you would stop; that he
was authorized to say that the offer was made in
entire good faith and with full ability to perform
it, and to guarantee to me that you would faith
fully carry out your promise to stop these at
tacks.
was not wholly unprepared for such mes
sage Though Its receipt through Mr.. Patterson
surprised me), for yesterday morning learned
from friend that Mr. Hine had suddenly
ordered work to cease upon the schedule OF
prices of real estate in Indianapolis and else
where, which he has had people making for him
for some months, with the view of continuing
the attacks upon us and our credit in his insur-
ance paper, The Monitor which have been going
on for so many years; and, at the same time,
received telegram from a mutual acquaintance
asking if l could be seen at my Office this morn
ing from which two things / at once OWNED
that you had learned of the impending publica-
ton of my article discussing Semi-Tontine, and
that overtures would be made to get me to stop
its publication. I wish to say to each of you
ntro ha< inc nhcfo sold IN
Mr.. Patterson, viz: that your proposition to stop
attacking the Connecticut Mutual and myself, if
will stop discussing Tontine, is based on e rad
ical misunderstanding of the difference between
what you have been and are doing and what
have been doing and propose to do, and OF my
motive in what have done and may do.
You have been attacking the solvency and the
credit of the Connecticut Mutual ITSELF the value
of certain of its assets, the integrity and eff
cheney of its management in caring for the in
terests of its policy holders and tie discharge of
its trusts, and my character as man and as an
official. continually during the last eight or nine
years. Articles almost without number have
been prepared by and for you aud printed in
leahet form, and in the insurance papers, which
you have bought and distributed among your
agents ''by the ton," who have, year in and year
out, thrust this matter through the mails and by
personal delivery into the hands of every policy
holder of this company, and of every person to
whom our agents were offering its policies for
new insurance.
have done no such thing. have not assailed
the personal official character of either one of
YOU have not impugned the credit or solvency
of either OF your companies. l have attacked
the value of no item of your assets. have said
word which could be construed into the
slightest attack upon you or your companies. I
have undertaken TO discuss plan of business
which You have invented, and which you
are are yusnlng psfors the public with all
the power Of your corpu......
as desirable and legitimate form of life insur-
ance. l believe that the Tontine feature is a
completes pervision of that element of protection
to the family which is the sole merit of life in
surance and the only reason of its being; that
were its true character clearly seen by those
who have families to protect and desire their
complete protection, that did they see it to be as
it is, mere speculation upon the losses by men
and their families through the lapsing Of their
policies it could not find favor for one moment
believe that this system has pushed it's way to
large acceptance simply through the enormous
estimates" of profits upon which its solicitation
has been entirely based, and upon the very en-
ergetic efforts of skillful men whom you have
been able to employ with portion of these
profits. as against companies which have no
such wages fund have, therefore, endeavored
to give a clear analysis. and just and true
statement of the precise character and effect
Of TontiEe life insurance; and pure
practically, if not formally Abandoned
but in its place each of your companies is now
offering variety of Tontine known as Semi
Tontine, Limited Tontine and five years distribu-
ton policies, or reserve dividend policies, in
which part of the effect of forfeiture is sup
posed to be remedied, and the most glaring vice
of the full Tontine thereby removed; although
these new schemes are also pushed by the same
methods of estimates" of exaggerated profits.
Having become possessed of these Semi Tontine
estimates, and having analysed them and found
very closely at least the amount Of lapses and
losses thereby which you must anticipate in
order to make your estimates good, and that at
least rs per cent Of the money and paid-un in
surance lost through these lapses must be for
feited to the semi-Tontne pool have under
taken to exhibit Semi Tontine in several varie-
ties as offered by your companies, in
such a. manner as l trust may make
Had l been seeking retaliation or revenge for
the continual stream of attack which this COM
pany and myself have endured at your hands
all these years, need not tell you, gentlemen,
how entirely different my course might have
been. But have confined myself wholly to a
strict discussion Of system Of business which
/ know to be wholly pernicious. have men,
toned your companies only as it was necessary,
because OF their connection with the system as
its orignators and advocates The facts which
have been presented in that discussion you have
not denied The correctness OF my analysis of
your estimates" and of their effect upon indi-
viduals and in gross you have not denied II
Semi Tontne be an unmixed public good it will
certainly stand all the discussion it can receive
and it's friends ought to welcome rather than
deprecate it, If in my article, which will ap-
pear in day two, / mis- state it's char
acter, or materially err in my analysis of your
estimates" or of their necessary effect upon in
dividuais or IN the mass. it will give you the op-
portunty to confound me in both fact and reas-
oning and to show that what assert to be
moral crime against families is blessing to
them; for to those who are interested in the mat
ter frank statement by you of the way in which
your estimates" are made up the lapses which
you actually expect, the loss which must fall
upon each individual and each family in order
to furnish the Tontine profits to make good those
Estimates" would have far greater interest
than any statement am able to make from an
analysis of those estimates" Therefore. as my
part in the matter is only that of open and fair
discussion of a question of immense public inn
portance vital to the future integrity and sue
cess of legitimate life insurance cannot accent