The herald., 1898-02-03
OFFICE OF THE HERALD.
LOS ANGELES, Feb. 2, 1898.

Of IiGAtAhDs
LOS ANGELES. Feb. 2, 1893.
"Practice is to theory what the feet are
to the head"
The Ministerial Life Insurance company
has been in business in this city little
over q year, having received its certificate
of authority from the Insurance Commits
sioner of the State in November, 1896. The
rep>rt of the company for the year end
ing December 31st, 1897, shows that up to
that date 1885 policies had been written,
In force ITS, insuring 1859, 900. The in
come for the year 1897, including ledgeras-
sets of $7057 reported December 81, 1896,
was $35,213.73 The disbursements during
the same period amounted to $17, ,O29 Al, to
which must be added $4,000 paid for death
losses. The company has invited inspec-
tion of it's books to confirm the figures
above given, and an examination of the
same confirms their correctness. The
only death claims thus far, amounting to
$4,000, have been paid and the company has
In consequence no liabilities. The show
ing for the year, or little over, cannot
but be regarded as favorable one.
The companys affairs are managed un-
der the direction of its president, DR.. David
w. Edwards, whose record as an insur-
ance man of experience is entirely credit
able, while the showing made for the first
years business is good one.. The new
company charges rates appreciably lower
than those charged by the old line COM
panies, but yet considerably higher than
those for which so-called insurance may
be obtained in purely assessment concerns.
Coupling this fact with the great care ex-
ercised in the selection of lives. the COM
pany claims to be doing business on prin-
ciples as conservative as those which in
fiuence older institutions of the kind.
The ministerial feature of the institution
has excited some comment of an un-
favorable kind from outsiders but 1t is
hard to see how the care exercised in the
getting of Endorsements Of ministers as
to the general character of medical ex-
aminers and of applicants can be produc-
tive of any detrimental results. These
Endorsements are simply additional safe
guards and are not in any way in lieu
of ordinary business precautions. A COM
conduct of its business is certainly not
inviting any additional risk, but, on the
contrary, may save some considerable
losses by timely elimination of doubtful
applicants.
The real estate market shows some lit
tie Improvement, although the dealers do
not appear to have shared in 1t to such
an extent as to make them jubilant. The
fact is that very large number of the
transactions are made without the inter-
vention of middlemen, and the latter have
themselves to thank in great measure
for this state of things. The real estate
men do not have any organization, the
few attempts to carry on one having
proved abortive. The business of the men
who devote themselves exclusively to real
estate might be greatly strengthened and
improved IL an organization in the nature
OF real estate exchange were in exist
ence, by means of which strangers could
obtain some assurance of the standing of
the parties with whom they are invited to
deal.
The transfers recorded for the month
of January show a marked increase over
those for the same month last year. 1t
Is also very significant fact that the re-
leases of mortgages filed in January ex-
ceeded the amount of new membranes
by the sum of $7.599. Following is the
comparative table for January, covering
q period of three years:
1898 1897 1896.
Transfers, Jan. 1915 06S ,131 81, ,1O2 S72
Mortgages, JAM. SO7 500 714.S33 3,4O9 745
Releases, JAM. Ss5.o99 714,525 5l9.i27
o O o
Following may be found a statement
of the loans made and releases recorded
by banks and private individuals during
the month of January. 1898:
MORTGAGES-JANUA 1898