The herald., 1898-12-24
THE LARGE BUSINESS DONE
DURING THE YEAR
new TINPLATE ORGANIZATION
Manila as a Commercial Center of the
East-How Mining Stocks Are
Sold in Colorado
OFFICE OF THE HERALD,
LOS ANGELES. Dec. %. 1898.


done large business this year. The war
affected them but little, and the amount of
new business written because of hostl'tes
made up for much that was lost during the
commercial depression. The companies ope-
rate mostly in the cities where the idea of
insurance at retail" has taken so well that
the working classes now contribute about
$30,C00,000 yearly for that sort OF protection.
The system is modelled largely after the plan
followed in England, where the movement
has been attended with great success, sixteen
companies reporting there premium IN
come OF S33OO0,0OO year and more than
l5,0O0000 industrial policies in force.
The industrial companies, says the New
York Evening Post, now reach such null
ttude of policy holders that there il scarce
ly a considerable loss of life reported any
where but that some of them are affected.
The companies paid out thousands Of dol
lars as u result of the disaster to the Maine.
They issued numerous permits 10 men i'll the
volunteer service, and while the claims thus
far reported have not been large, the ac
counts are not all in, so it is difficult to say
just what they will amount to. The com
panies now issue policies Ito both seNes) Of
from $S to $1,000 at weekly premiums of
from cents to 81. -Four weeks grace is
allowed in the payment of premiums, and
when death occurs it often happens the
amount of insurance is paid benefciaries
u few hours after the claims are sent in.
This is frequently great convenience, since
the insurance money is often used to pay
burial expenses and the usual delay would
work hardship. The companies refuse risks
ON lives under one year old, and charge pre-
mums of not more than 10 cents Ga week.
l.
antee increasing benefits from the time
policy on an infantile life is three months
old until the assured reaches the minimum
adult age. Efforts are made to prevent
speculation as far as possible, the companies
stipulating in adult policies that after the
first insurance has been effected on an in.
divdual life any other policy will be void
except where written Endorsement has been
obtained.
Industrial insurance in one form or an
other is written quite generally throughout
the world. John II. Hegeman, whose paper
read at the last annual session OF the ma.
tional convention of insurance commission
ers has been generally commented upon, has
discovered that the business exists in Ho.-
land, Sweden, Switzerland, Denmark, Hun
gary AUSTRIA Belgium and Germany.
Friendly societies and burial insurance al
ford much the same sort OF protection, it
is said, in other countries. As regard, the
old charge (heard frequently years ago. that
the business furnished an incentive to in
fanticide, Mr.. Hegeman said I'm all the
annals of industrial insurance in America,
covering millions upon millions of policies,
thtre is just one instance where wrongdong
was imputed to the business, and that was
many years ago inPhiladelphia, where a hus-
band and two children were poisoned by
the wife and mother for the alleged purpose
of obtaining the insurance money, which
amounted in the aggregate to Sl35. This
was obviously an act of insanity-destroy
ing, as the woman did, the very life ON
whose existence she depended for bread.
The most violent and unreasonable assailant
has never quoted the act of this wretch
as an indictment against infantile insur
ance. No, this well worn libel upon the
mothers and fathers forming the industrial
element of the country is happily at rest
Evidence of thrift on their part is no longer
held to betoken evil purpose. In protecting
their families against Potter's fed or from
becoming objects of charity it is no longer
affirmed that they are simply concocting
fraud The imputation that providing Il
trifng sum against the day of death was
only seeking an opportunity to murder is
now buried too deep for resurrection"
The New Tin Plate Organization
Several remarkable features appear in the
incorporation of the new American Tinplate
company, which has just been organized
under the laws of New Jersey with capital
OF $50, ,000, 900 preferred and $50 900 COM
mon stock. In lieu of following the custo-
mary plan on which most OF the large indus
A,,,p1 @hNo rttaln
of incorporation take new departure in
strictly limiting the powers OF the directors,
and reserving to the stockholders the right
to decide many questions which are almost
universally left to the board. The election
of officers, the creation of mortgages upon
the company's property and other matters
OF similar Importance are to be dependent
upon the vote of the stockholders, while it
is designed to maintain the integrity of the
stock as an investment by forbidding the
creation of any lien which stands on a par
with the per cent cumulative stock. The
directors are also forbidden to reserve a sur
plus fund not chargeable with the payment
of dividends. The combination of tinplate
manufacturers, embracing practically all
those Industries in the country, thus stands
out as radical departure from the ordinary
industrial company, and its future will be
watched with corresponding interest.
Manila as a Commercial Center
While there has been little disposition
even OH the part of those opposed to the |
expansion of the territorial limits of the |
United States to deny the strategic value of
the Philippine islands as naval and mill |
tary base, there has been a very notable diff |
ference of opinion rs to their value in q |
commercial way. Any information tend |
ing to throw light upon this latter view of
the matter has been eagerly sought for, says
Bradstreets, and where found has attract |
ed much attention. 1t is IL matter for con |
gratulation, then that the current week has |
brought forth two reports, one by the bu-
reau of statistic of the Treasury Depart- |
lnent and the other by Consul General Wild |
man, whose station is at Hong Kong, but
whose activity in connection with Dewey's |
conquest of Manila has brought him con- |
siderable notice.
Regarding the first mentioned feature. il |
is shown by a series of statistical exhibits |
that Manila occupies a most favorable DO.
sition as a possible dstrbutive center for
trade in the far East. 1t is pointed out. for |
instance, that from Manila to Hong Kong |
and Canton respectively the distance is |
between 600 and 700 miles, or only about |
half the distance from New York to Havana |
while from Manila to Yokohama, Port Ar, |
thur, Shanghai or the Straits Settlements is
little, If any, farther than from New York