Morning journal and courier., 1893-02-10

steadily to our usual standard and not only prevent an increase in the cost of our mem bers' insurance, but even somewhat further I reduce it. Their interests have not been | sacrificed for the sake of greater display.
 And we desire again to say to our mem bers that we are able to accomplish what | we have for them and at the same time make fair growth, because we are able to | secure, if comparatively small, at least @ faithful body of agents men who realize what life insurance at its best is ard ought to be, and who prefer to help work out that ideal at far less remuneration than they could easily obtain for presenting the spec ulative schemes that now secure the great bulk of the business. They are making daily pecuniary sacrifice to conviction.
 LIMITING BUSINESS
 The rapid growth of certain companies to enormous proportions, with the attend ant growing increase of cost and the diff culties and possible dangers of & public nature necessarily incident to such great sccumulstions of money, have attracted at tention on the part of state officials every where, and a committee of state insursp co superintendents is now considering the prae icsbility of devising some legislation to put @ check or limit to @ course of bu- sinsss which managers find themselves un- oolo oi uhWlilluS bO opPlJ, ucSAubc tucy can even approximately accomp ish their expected results only by an al ways increas- ing amount of new business to furnish new forfeitures. The speculative results they seek bind them to the only methods by which they can be even partially gained.
 CONDITION OF THE COMPANY.
 The assets January 1, 1893, are $60, ,76l,- 549 6S, a gain over the previous year of $1, ,O23, ,069 94 They ars undoubtedly worth more than they stand for.
 The surplus is $6, ,426, ,929.ss, 8 gain of $367, TIA 07 over the previous year.
 But by no means is all of the company's superior strength reve aled by these fy- ures, satisfactory as they are. In ascer- taiping It's liabilities for the future 1t has charged itself with over $500, 900 more of reserve than is carried on the same bu.i- ness by any other company On the same
 basis of reserve as is used by her con-
 psnies it's surplus is over $7, ,30O, ,000.
 Our premiums and reserves must be cal culated on the assumption that they will earn some definite rate of interest during
 the whole term of our contracts. Origin
 ally we assumed that rate to be 4 per cent.
 These contracts are liable to run, many of
 them, from fifty to seventy years. In 1882,
 in view of the progressive decline in the
 rate of interest in perfectly safe invest
 ments and of the wonderfully progressive increase in capital seeking investment, we
 did not regard it prudent longer to assume to surely earn per cent. for so long a
 period, and changed the assumed rate to per cent. for all business written since that time Thus, as our old 4 per cent. busi- ness passes of and the new 8 per cent. bu- siness take its place, we are gaining each year @ strength with which to meet the flu Sure that the figures of our financial state ments cannot disclose, and which no other company possesses, or has as yet set out to acquire.
 Were 1t necessary (as 1t Is noD for us to change our whole 4 per cent. business to @ 3 per cent. basis, we could do 30 and still
 have a surplus of about ss,5O0, 900 and without interfering with our dividend paying ability.
 Should tbe "pcstponed dividend" or Tontine companies do the like, as it has been intimated they might do, it would wipe out the postponed dividends alto gether and very few of them have sur plus enough to make the change even on those terms.
 In the forty-seven years of its existence the Connecticut Mutual has Received for pre-
 Rses9Vss %ig%s fo, inc; s:; ;si7s'ssS'ss'''
 
 1 and rents. ......... 70,907, ,6S0 2S Received for balance
 profit and loss..... l'lA5,0a T
 Total receipts pts.................s2l 5,4ss, 7ao 2s It has
 Paid out for death
 losses and endow
 Paid out u tidiit;iidindi;'' dividends 50 s ssS,s4S 90 Paid out for surren-
 dered policies q l3l, ,447 59 Total paid policy
 holeers. .$157,6 ,6o7so1 co A1pepses ........... SI,I45,olI s4 | Taxes es...-.......... 7,647,so0 97 Total disbursems suts Slse s9a, ,S2a b1 l Balance, net assets,
 January lst, 1693 N9,037, ,395 74 The amount already returned to policy l holders of their bsne6ciaries and the net 1 assets held to protect present contracts ex- l ceed the entire premiums received by $43,- l 259. .290 69. The expense ratio is 8.61 per
 cent This record has no equal elsewhere. THE FUTURE. THE CONNECTICUT MUTUAL has but one purpose to give the prott ction of life in 1 surance--and there is and can be nothing worth paying for in life insurance but pro tection-to thoee who need 1t in its best form, with perfect security, with perfect | equity and at its lowest possible cost That this company has done this in the past, is doing it to-day, and is in a position l to do it for the future, beyond the ability | of any other, it's record of results and on l Its present condition Is left to prove. Respectfully submitted, JACOB l.. GREENE. President.