Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-04-07

dur;np the past tS4 yeen - -.
and and we'll complemeqte re mofs q. =. ~
diffusion Of knoy edFs q ~ ~ q Ssfl115
pyocress Of Tho hast oeeeos - ~ z
Of art. science. and indus{s{. x.ve,oounen1|
A marked feature % ~ ". 49, s,ssrs ~
,ass ,,sss e'S ia ssetures Of insurance. -.
,nS the nsesis,y sSa ygoIisucv.hoiisr II With evesy
csr-inc ANIMAL premium pnyme1
,rva him no residuayy Intcfest ~ ~. |.
inas or contributions beyond ne -, ~,
ton OF provision for his fam'v
death. - .eaoro-
fiona experience OF this old form g 49, E,s
rance. popular demand. both of ox...x ox....-sx /
interest and for moro varied inyesS1
shnni8 have arisen for tho spplicat1oo
ths sound PRINCIPLES Of lie insuraoce ~
fhs outlay Of the savings Of al ciae2
the community, to protect the oepsas
family and prevent want ~ tn1 80 49,
ting policy holder do Sar.n roe .S,urns o. Sc
insurance, IL its protcctive features ~ ny -.
lave been oufgrown. would meet toe -
eessities os his older years. when tnose
merly dependent upon him mad ootHs0@
his care and protection. ..t~>
American life companies OF proEree9,yS
tendencies were quick TO respone ~ ~.
development Of the business, ana toLs
among them all was, IA n; ght have poon -
pected tie New YORK Life lnsufen2y
COMPANY. organized in 1st5. and psss,
ously tho pioneer Of non-forfeituro eno
limited payments in lite insurance.
By tho FIRST reform thus inauRur1tS4
the contributions of long periods. form9xy
confiscated from the upfortunate poiIsys
holder who was unwilling OF unable 20 ~
further premiums, was secured % 70 ~, -
tate, and by the latter recognition ~
given TO the advantage OF throwing sno
burden Of cost of insurance upon tne psV-
ductive years OF life. A.
A logical sequence OF these requirements
was the Tontine Investment policy 20 pt2-
fitably employed by the New YORK L3to
and other enterprising competitors tof ~ ~
capitalization OF premium payments ,nso
a return in cash in fixed periods ot tcns
fifteen. and twenty years whore such pro-
vision was desired by the poiicy-hoiuets
and 10 the student OF life insurance IN TINS
country theIS Is nothing more strongly
marked than the development and M
creased popularity of the business attena.
ing the recognition OF personal interests
embodied IN the Tontine contrac.
When, In 1884, the Tontine system wn1
further modified by the introduction vk
the non-forfeiture feature, not originsiy
included in the Tontine contract, " was
made as nearly perfect. for the average PC
cessities of mankind as any plan yet 90.
yised by the mathematics OF actuaries anu
the tar-seeing experience OF hfe-insufance
managers.
whose business December3i, lss0. WAS rep
resented by assets OF xi3.ls5.o4.sl, by IN
come Of 3s, ,964, ,719.4l, by new insurance
written of ga. .229, ,979, and Insurance. IN
force of $i35. .726, ,926, IN 1880 showed Siio.-
9I7. .S09H assets aud Ss2. 15S, ,l0o.S income.
and $3.50. SIG, ,065 new insurance, with Socv,.
S3S, ,726 insurance in force. And when ~ 10
further remembered that during the whole
forty-s,x wears OF the company's existence
il has never been obliged TO use us pre-
mium income 20 pay death-loss, but mas
made all such payments out OF the inter-
est rents, &c, earnings OF its assets. WIN
a surplus OF 81, ,77s, ,i55.s2 additional In II!
difference between such earnings anu
death-claims. with saving 10 n
policy.holders from table rates ;' ;os
s64.65s ,s09So, the exceience @
financial management ~ most clear-
ly apparent. And the company's latest
| DEVELOPMENT of success. fully combining
| investment and protection. is well Illus
| trated in the popular appreciation OF its
| liberal 4 per cent. guaranteed INTEREST
bond and return premium contracts1
wherein in tho one case, after the need or
4
| of fifteen or twenty years, the bondhoidef
receives from 80 TO 65 per cent. OF its pre-
mium cost in cash earnings aud per cent.
| guaranteed annual interest for life, upon
his aggregate payments. as though 10 such
| return of any portion OF them had pecn
made and the face value OF his bond 70
| paid.up insurance for life. And In the re-
| turn premium policy the full amount OF
| premiums Is guaranteed to be paid, - .
mortuary dividend. 10 the policy-holders
| within the tontine period, whenever deatn
| occurs, so that the whole cost OF insurance
| il borne by the interest OF the premiums,
and the face of tho policy y lett 70 tno
pohcy-hoider as margin OF proht, wno-
| ther his death occurs early or late in life.
Corresponding 10 tho general success OK
| the company is that Of its southeastern de-
partment comprising the States OF Mary
| land, Virginia, West Virginia. and District OK
| Columbia), whose headquarters are Baiti-
| more, Md, for tho same period OF time.
| from the accession of Colonel j. II. yecoos
to its charge as general manager on March
| 8, 1881. Then he found the existing b,et-
ness of the company in Virginia to be-
| Insurance, $751;, $50; premium income, S1s-s
| 747SO. while on December 81. 1850. tho
| books of the department show in the same
| State: Insurance In force, vi,935,5l0; pre-
| MUM income. $iSo. o.s90.i9.
| This enormous stride from S75i $50 on
March 8, 1881, in insurance. and premiumso of
Sis, ,740. so to S4 935, $40 in 1890 Ia insurance,
and $3.50, $3.50. 10 premiums was not effected
| without most careful and industrious man
agement, as well as vigorous canyassing
| on the part Of the general manager and his
able co-workers in the State, as can easily
be understood by any one familiar with
the history Of life-insurance successes.
And nowhere has this business been more
carefully and satisfactorily worked than
| by such faithful agents as Messrs. Wysor Il
| freeman, the general agents OF the compa-
ny for Central and Southwestern Viz
| ginia--Mr. George A. Gibson, manager IN
| Richmond; Mr.. George @. Bowers. specih
agent. Norfolk Mr.. w. II. Taliaferro, spe-
| cial agent Ia Clarksville, and other minor
| faithful co-workers throughout the state,