New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-01-23

OF course this growth has not been accomplished
without severe and not always loyal struggle on
the part Of competitors. Life insurance Is among
us based upon the stock principle, and is monopoly
exhibited for the benefit of shareholders Tho
tariff Of the level premium companies imposed by
the Council of state and the average about D
per cent higher than that Of the American companies
contributes very largely in the form OF dividends 10
shareholders. and thus to the market value OF the
shares. As an Illustration l may mention that the
Oldest and the strongest Of the French life insurance
companies has received only 1900 francs as a pay
per share and these shares are, at the present
time currently negotiated at the Bourse for $4,000
francs each! The annual dividend per share is LOO
francs, nearly 10 per cent of the original cost
All the other companies follow more or less closely
in this line of experience. The result is that the
shares Of these companies, being largely held by
the rich classes Of the community and being trans
Ecrred from father and a part of the fixed
patrimOny of the family, constitute financial IN
ere>i which re>ists at auy price the advancement
in the community Of the ideas Of economy for which
our association stands the type and the sponsor.
1t j. always difficult TO contend against monopoly
but still more when large portion Of the com
munity interested in its maintenance. Our con
test, therefore, is unlike that which the association
wages in the United states. where few individual
officers are able 10 control. on falsely called
mutual system large accumulati0ns Of money, and
combat the principles and operations Of insurance
the natural premium system, t. maintain their own
influence and power There difficulties growing
out Of this difference which make fight more
severe but on the other hand, there advantages
which compensate for these difficulties. our bank
ing institutions learning t. look upon the in
,uiancc companies TO great extent, their com
pcttors and opponent, Of their profits In the pres
of Institution like ours, which asks from the
insured only the cost price OF his insurance, and
leaves at his disposal the difference between that
premium and the amount cXaccd by the level premium
companies, the interest, of the bank rather for
than against system. much it opens to their
uses the amount of the economies saved by those who
treat with While it j, true that certain directors
Of certain banks ara at the same time directors and
shareholder, of insurance companies, vet their corporate
relation, hold IN check their personal bias that in
this second capacity they have not been slow to
recognize that iaclltc, offered 10 really in
The lire of profit TO the banks with which they are
connected. In th, way. and for this reason. our
financial support and patronage in these countries
nave exceeded that which 50 new an association as
IN these countries could have properly expected
! am glad to be- able to say that among the leading
Nuanccr, the opinion that our principles are worthy
4 approval. and that administration Of them de
serve, confidence has been frequently testified to In
public gatherings and in the public press.
The most signal fact In the history Of our general
direction. and one for which claim the attention
ard cordial approval ~ the Association and which We
believe 10 bee without parallel Ia the experience of any
Of the numerous department, Of the Association. IS
that up 10 the present time, notwithstanding that we
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500 death, daily during several weeks. We have vet to
record the first death loss or the first payment Of
amount Insured. II J., true that Of our New York
member. while visiting Dol, family In Paris. died. and
the death joe, Wa, paid through this Office before It
Was '"'' ""' ''.' cas-. '''' "'' ''''" "' ''''.
tA" statement WINCH nave manu. I'c 'Io''. VI ''''
continued absence "i de''h losses j. que 10 inc '"c
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has continued &" increase from m"h'h u" month"; ana
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three year, standing
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