The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1895-02-22
NEW TO-DAY.

of the estimates on policies issued in 1874 the divi-
dend paid in 1894 $4106, or 1926 per cent Of
the estimate; on policies issued in 1875 the dvi-
dend paid in 1895 is 1874 or 1910 per cent OF the
estimate. Perhaps the company itself furnishes
the best comment on this history IN its preface to
its book of Estimates" used by agents: while
the results of the future must necessarily depend
on the experience of the future, figures
based on past experience furnish the best attain
able data upon which to judge of the management
OF the Society and the value of its Tontfne assur-
ance."
When these policies have received their one Ton
tine dividend they fall back into the annual diyi-
dend class And the annual dividends slight.
As the investment" quality dies out its form is
attractlvely varied TO conceal the want of sub
stance and create Ike illusion of giving much for
little The policies made to have appear
ance OF iberality as to conditions which is false in
part and for the rest part destructive of honest
tuaty and OF public morality.
The legitimate business of a life insurance COM
pany is the payment of death losses out of the
premiums paid by its members Aside from max
lnglts contracts absolutely Just and secure the
great merit in administration is to take little
money as possible from its members; to do the
business as cheaply as possible; to make their an
nual payments as small as possible; to assume to
convert the payment OF losses of any sort into an
investment operation is an absurdity. Any advan-
tage to a favored few be had only by the
wholly needless sacrifices of multitudes, each one
OF whom hoped TO be of the favored few.
CONDITION OF THE COMPANY
The assets January 1, 1895, are $62. a34, 1925 SO
by a most conservative valuation an increase OF
$S71,52O ~ during the year. The liability for re-
insurance reserve business based on the assump-
ton OF earning annual interest (prior to
April 1882 is So, 30S, 1882; on business based on
the per cent interest assumption (aI since April,
1880 it is $9,9l2, 209 This last item OF reserve
is considerably over $1O00,000 more than 1t would
be on a 4 per cent interest basis The companv ia
stronger ipprals ard
or than any competitor. AS the rate of interest
tends to gravitate downward position In this
matter is one OF congratulation to our policy hold
ers and of satisfaction to the management
The other liabilities are 81, 137 62I So, leaving
surplus of $6S76,212 7s, which has been referred
to elsewhere.
CONDENSED STATEMENT.
In forty-nine years OF business the Connections
Mutual has
Received
For premiums. 1892, 6s7 ,139 81
Interest, rents and
bal. profit and
loss-.-............ 7S,43l,472 SO
Total .s26l11ss $40 On
Disbursed-
Death claims and
endOwments... S93,793, 207 40
dividends 49,. 53,449,157 90
Surrendered poll
cies .............. %, 1855, SOB 81
Total paid pol
icy-holders.. S169, $50 1858 as
Expenses 22,699,S1 OIL
Taxes. ............. S,241 ,535 SO
-- 200, 572 213 "a
Balance, net or ledger assets,
JAN l, 1895. Observation-Disclosures. $50, 1913 SO
We commend this record to your careful scrutiny
In its business conceptions, plans and methods.
Its strength, economy, equity and unparalleled re-
suits to its members the Connecticut Mutual
ands in its totality the matured fruit of time, ex-
perience and conservative administration: carry-
ing in itself the vigorous and healthful seed of
benefcent future.
Respectfully submitted,
JACOB L. GREENE, President