The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1897-07-23
OFFICE OF THE HERALD,

Investigator qutoes from the remarks
made at the recent convention of mutual
life underwriters by President Fouse of
the Fidelity Mutual Life Association, who
read a paper on the subject. He showed
that while in the New England states,
where death statistics are kept with great
care, the percentage of suicides to total
deaths is LOS, statistics of insurance COM
panies and fraternal societies justify the
assumption that, among insured lives,
4.36 of the deaths are due to suicide. The
number of suicides among insured lives
is therefore somewhere from two to four
times greater than among the general pop
ulation. 1t would only be reasonable to
suppose the exact contrary to be the case
If, as is generally supposed. suicide is due
to mental alteration, and if there is any
virtue in the old dictum of sound mind in
a sound body. 1t is evident that the pos
session of insurance constitutes in many
cases, as matters stand at present an in
ducement TO suicide. Men who have COM
nitted acts that may lead to public dis
grace or punishment will the more readily
commit suicide when they kiow that their
wives and families will be provided for
through their insurance. And, as we re-
Gently pointed out men will insure their
lives heavily with the deliberate inten-
tion of committing suicide The report of
the Royal Arcanum commission shows that
the increase of suicides among the mem
bers has been 1858 per cent in six years,
and judging from the suicide reports in the
daily press the statistics of insurance
companies generally would show similar
results. President Fouse asks: us It just
and fair that honest policy holders, be-
cause of a maudlin public sentiment,
should be compelled to reward criminals or
their families for committing crime?" 1t
is not. Neither is it just or fair to honest
policy holders that companies in their
fight for business encourage this maudlin
sentiment by making policies incontesta-
bic for suicide. in cases other than where
1t can be clearly shown that the deceased
was of unsound mind at the time of COM
hitting suicide. The remedy is in the
hands of the companies; if they do not
apply it they have only themselves to
blame. "a man has no more right to in
sure his life and destroy it for the profit
and advantage of others, even though they
be wife and children, than he has to COM
NIT arson for his own benefit" But who
makes it possible for him to do this if not
the company with whom he insures his
life?
Today being the last day on which in
terest will be paid on the old city bonds
which have been refunded a batch of
$4,000 was taken up by Hellman & Sar-
tori and the cash paid by that firm into
CifV n he "A m hah p1d
OF that amount of old bonds SO presented.
Proposals for $500 per cent school
bonds of Vernon district will be received
up to August I'd at p. m.
Proposals for $1,000 4 per cent school bonds
of Dominguez district will be received up
to August I'd at p. m.
4 + 4
The Mutual Life Insurance Company of
New York has just secured an issue of
$1,000 600 of Brooklyn city per cent bonds
on bid of 100 Go.
+ = \
The trustees of Cleveland school dis
trict, Kern county. have decided to issue
call for bonds to the amount of $4,000, this
to purchase a lot and erect a school build
ing thereon. The election is called for
August 9th, and, if the proposition carries,
the house will be erected at Famoso.
+ + +
Thirty million dollars, says the Chicago
Times Herald, is a conservative estimate
of the sum which has been used during the
last eighteen months in paying off mort
cages on Nebraska property. Loan agents
and bankers throughout the State are
unanimous in reporting that the liquida-
ton of Indebtedness by Nebraska mer-
chants and farmers is progressing at an
astonishing rate This disposition to pay
off loans and discharge all liens upon
realty was first noticed early last year.
Since November it has gained such force
that today the amount of money invested
In mortgages throughout the State is not
more than one-third of what it usually has
been.
In Omaha the number of mortgages filed
on city property for the year 1896 is Of
fically given al 1114. aggregating S2,1S2.-
S05 while 1882 mortgages on city property
were satisfied, aggregating S3.3S4 115, a net
decrease in amount of 81 POI 80 The re-
duction for the first six months is stated
to be proportionately large. All loan men
agree that the interior of the State is bet
ter off in this respect than Omaha on
ratio of four to one, on which basis
very large total reduction in mortgage in
debtedness is computed.
\ + \
The Grand Rapids Democrat gives the
following account of sprinkler leakage on
July 4th, and couples with the brief ac-
count one or two-what seems to it-perti-
nent questions:
In Detroit the extreme heat, beating
through a skylight, caused the blowing out
of two automatic fire plugs. A deluge OF
water was turned on. damaging the dry
goods and clothing stocks of two houses
to the extent of a hundred thousand dol.
lars. These automatic fire plugs are put in
at the instance of fire insurance companies,
which, by reason of the greater protection
afforded, give a lower insurance rate. In
this case the plugs were set to explode at
1870 degrees heat. Now the question arises,
will the insurance companies be liable for
the loss, the explosion having been the re-
suit, not Of fire, but of solar heat?
4 = y
A complaint has been filed with Commits
sioner Fricke against the Bankers Life
association of St. Paul. which, it is alleged,
by its advertisements misleads 1t seems to
be the same old story. The circulars stated
the cost, but the insured found on receive
ing the policy that he was liable, pretty
sure, to pay good deal more through as
sessments The complaint goes on to state
that the circular guarantees that insurance
shall not cost more than SIG 70 ner Sf100