New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-01-04
TIE TONTINE DISCUSSION.
THE TONTINE COMPANIES ASK TO HAVE IT
STOPPED.
PRESIDENT GREENE, OF THE CONNECTICUT MUTUAL,
IN a SPIRITED REPLY DECLINES TO STOP.

STOPPED.
PRESIDENT GREENE OF THE CONNECTICUT MUTUAL,
INA SPIRITED REPLY DECLINES TO STOP.
RICHARD a. McCURDY, Esq. President Mutual Lire Tns.
90. OF Nttc. York. heto- York.
HENRY i. HYDE Esq. President Equitable Life 1sSpy'
QHce Society, Ncc York..
WILLIAM Il. BEERs, Esq. President New Yors LIFE Hs
Co., Neic- York.
GE~TLEMEN Mr. James @. Patterson president OF the
Travellers Insurance Company OF this city, called at my
house last evening tho arrival of tie 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
lad conference With you, and that, ut your joint
request he the bearer OF certain propositions lie
said that you had learned that about TO publish an
Gle in The newspapers renewing discussion OF Ton
tine insurance. In which your companies and yourselves
were interosted that you did not wish the article TO
aprear anc that you each and all had authorized him to
say that IL woud stop its publication you would
stop attacks which haTo boon long in progress
against tie Connecticut Mutual Life Insurance Company
and mysclf you regarded Any further discussion
and controversy injurious to business that you had
had enGugh OF it, and desired peace and that II would
stop you would stOp that he authorized 10 say that
tho was made in entire good faith and with iu
ABILITY perform it, and to guarantee TO me that you
would faithfully carry out your promise to stop these
attacks.
/ was not wholly unprepared for such message
though Its receipt through Mr. PATTERSON surprised ue
Tor Yesterday morning learned fIom friend that Mr.
lime had suddenly ordered work TO upon the
schedule OF prices estate in indianapolis aud
here which he has had people making Tor MIN Tor
some months, with view Of continuing tue attacks upon
aud credit IN his insurance. paper me H0httoF
which gong on for 50 many years; anu at tue
same time, ! received a telegram from mutual
acquaintance asking II could DO seen at my once thl9
morning; winch two things at once dlS med that
yOu mad learned OF the impending publication OF my
article discussing Semi TOntue. ana tbat Overtures
would be made TO get INC to stop lts puDcaion Wish
sly each OF yOn gentlenen directly what III SUP
stance said To Mr. patterson, VIZ that your pr3po1i-
ton To stop attacking tho Connecticut Mutual apd my
sell. II / Viii stop discussing Toniine, Is based o.
radical misunderstanding TIE difference between What
you nave been and are doing, ana what Rave been
doing ami propose to do, ana VI my motive IN What
have done aud may do.
You have been attacking the sOyency and the credit
of the Connecticut Mutual itself the value OF certain OF
It's assets integrity aud efficiency OF its management
caring for the interests Df 10 policy holders ana TIE
discharge O It's trust anu my character as nan Ahu as
Official continually during the last eight or nine years
an Tor ,ou an printed eaet form ana IN tue nsnr
anco par which you have bought aud distributed
among your agents by the toR. who have year IN aud
wear Ju thrust this matter through tue mails and by
personal delivery lnto tho hands OF every polieynoder
OF this company, and OF every person 10 whom Gus agents
were Olierl. its policies for new insurance.
have doua no such thing have not assacd the per
sona or Official character OF either OF YOU have not
Impngued credit solyency OF either OF your com
panies have attacked tho value OF no Item OF your
assets have said no word which could be construed
into the slightest attack upon you your companies.
have undertaken 10 discuss plan OF justices wnlch
gu have invented ana which you are pushing before
dsirab and legitimate TORN OF he insurance / believe
that the TOutne complete per version OF that
element protection to tue family wAich Is tile sole
mort life insurance and tue onIy reason 0I ts being
that wrIe It's true character clearly by those who
nave families TO protect ana desire their complete
lection. that dill thcy u To DO r. II Is mere speeu
laon the losses by men and their families through
the lnug OF their policies, It could not ind IA! or for
che moment. believe that this systcin has pushed its
way to large acceptance simply through tle enormous
rstImates profits upon which It's solicitation mas
been eut oily based aud upon the very energetic efforts
sllul men whom you nave been aOe 10 employ VITA
portion Of th0,e profits, rs against companies "hch
have Ich wages fund have Therefore endeavored
the precise character and effect of Tontne NE nsur-
ance; and pure rontne LIE insurance is. NJ learn,
prAoticay. II formally abandoned; but IN us place
each OF your conn auies Il now Qnsfins Haristy 81
pol oies winch part of tho eject ot forfeiture Is
supposed 10 remediod, ana The most glnrng vice 0i
tue fu Tontne thereby remoyed; ai.nonia these new
schemes also pushed by the Same ne'hou' ol es-
inmates " OF exaggerated profits
Having become possessed OF these semi.rontine
estimates and having analysed them and foCnd, very
closely least the amount OF lapses and losses thereby
which you must anticipate in order to make your
estimates good and that ut loast - cent OF the
money and paid up insurance lost through these apses
undertaken q exhibit Semi TOntine In It's several
rietss az offered by your companies In such
"a trust may make It's quality aud effect clearly under
stood Had been seeking retaliation or revenge for
Tbe continual stream OF attack which this company and
myself have enduced at yOGr hands all these years.
need tell you. gentleman; how entirely duereht my
wholly TO a strict discussion OF u system Of business
which I know 10 De wholly pernicOus. | have men
Toned your companies only II was necessary because
OF their connection with the its Orlgina,ors
and advocates. The facts which have Teen presented
I'm that discussion have not denied The correctness
OF my ANALYSIS OF estimates" and OF their effect
upon individuals ana in gross you have not denied II
semi Tontlne be an unmixed public good will certainly
stand all the discussion ,eiye, and ITS friends
ought to welcome rather than deprecate IT, H In II y
article Will appear In day or two, msstate its
character or materially err IN my analysis Ol your
estimates" OF theiI enect upon individuals
or IN the mass i will give you tae opportunity TO con-
found me both fact and reas0ning and to show that
what assert 10 DO moral crime against families Is
blessing to thcn for those who interested In the
matter frank statement by you OF the way In which
yOur estimates made up, the lapses which you
individual aud each family In order to furnish the
Tontlne profits make good those estimates, wonid
have greater interest than any statement am aOle
10 mako from analysis OF those estimates" There.
fore "a my part matter is only that of open and
fair discussion OF question OF immense public impor-
lance vital To the future integrity and success OF legi
mate life Insurance. cannot accept your proposition
cannot stop until have done that which believe
my duty TO wit thoroughly inform those the welfare
OF whose families is involved. to absruse matter
which know they do not understand, and which think
do; and must leave with you the responsibility Or
Mutual and self you may deem best for the Interest
of your and yourselves the good or tie public
nni rho benefit OF legitimate life Insurance. am,
gent lemen, your Obedient servant,
JACOB l.. GREENE.
President Connecticut Mutual Life IHs. 60.
Hartford January ., 1856.