New-York tribune., 1897-01-30

corner Of the civilized world to overcome idle
ness, improvidence, disaster and want; to es-
tabish the reign Of industry. prudence. provl-
dence and peace: to inspire youth to its nobest
endeavor, and throw around old age the warm
mantle of comfort and plenty
A great soldier has said. Nothing succeeds
like success True in war. it is douby true in
peace. and the fields of insurance afford con-
spicuous examples Of such unparalleled sue
cess. New-York is the home OF insurance COM
panies whose marvellous growth proves the
genius and integrity Of their builders and the
worth of their work to the world. Their success
gives inspiration to humber efforts, and in so
far as such are wisely planned and honestly
promoted they may hope to be successful.
Allied to the work of the insurance companies
are the undertakings Of cooperative benevolent
associations, which aim TO gather the mites OF
members for the benefit of brethren in need.
Many are successful. and deservedly so; but
popular opinion is apt to class them with insur-
ance companies. expect as much from them at
far lower cost. and suffer grieyous disappoint-
ment. II ~
Such associations bear to insurance companies
very much the relation that mans pocketbook
does TO his bank-thc pocketbook may be well
filed and an ampla resource for the petty ex-
penses Of the day. but it would be poor place IN
the accumulations of a lifetime. In so far as
these cooperative benevolent associations are
understood and run for their legitimate purposes
their increase is desirable; but whenever the in
dividual finds he has been mised as to their pur-
pose or incompetent management results IN
their failure and in widespread disappointment
their existence is to be deplored; for all that they
aim 10 accomplish is provided by insurance IN
some approved form and upon conditions clearly
understood and well guaranteed.
II is not to be supposed that all the problems
of insurance are yet wrought out Every day
brings new ones and the offices Of great COM
panies and associations contain no harder work.
ers than their actuarics and statisticians The
law Of average that bears upon the relation OF
loss to premiums is constantly crossed by the
laws Of the land as promulgated by ignorant
Ieeisislators while constantly changing physical
conditions render the most careful records or eX-
perience and calculations Of experts utterly
worthless in the face Of suddenly changed con-
ditions \ hundred years ago the manager OF a
Fire Office charged a certain rate OF premium
because that had been the rate for hfty or
hundred years before on similar risks. Now one
policy must cover hundred hazards then un-
known and the highest scientific knowledge Is
raouired 10 determine the probable hazard and
possible loss. Greater NeW-lolk leaus III '"i'
advance field of research, having its bureau or
experts which examines all new materials ana
processes that may affect the fire hazard or any
premises tests fre-eXtinguishng appliances,
new building materials and methods, and deals
continually with some OF the deepest problems
OF chemistry mechanics and architecture.
In life and casualty insurance the New-fork
companies are in advance Of the world offering
all that is latest and best in every approved line
Of insurance enterprise, studying continually the
field of present possible operations. and quick
to seize upon any opportunity for creating