The daily morning journal and courier., 1898-02-21

NAL AND COURIER, MIG the loss on the family and then tax the family on that loss.
 The division of the tax among these men does not alter it's unjust quality It simply reduces the tax which any one man has to pay on any one loss He doesn't have to pay the whole of the tax any more than he has to pay the whole of the loss. But the portion which he does pay is tax on a loss which he has suffered by helping oth- CTS to bear it, and in proportion as he has suffered it, just as much as if he had borne the whole loss and paid the whole tax on that loss.
 To summarize: A tax in any form upon mutual insurance company is a tax on it's members individually and is paid and must be paid only by them, out of their premiums, so much reduc- ing the surplus to be returned and so much increasing consequently the yearly cost of their policies. It is not tax on their property, but upon their losses, and is laid upon the money which is the distributive share of each member in those losses as it passes through the hands of the company to make good the original sufferer.
 The remedy for this matter lies with the policyholders themselves. They should make the immortality and inhu- manity of such taxes clear to those whom they send to their Legislatures.
 Consolidated Statement.
 From it's organization to January l, 1898, the company received
 For premiums$196,S5 S55,2 ,215 69
 For interest,". 79,295,S35 2S
 For rents .... 1854, ,7S3 30 Balance profit
 and loss .... 1,100,509 fl
 Total receipts ............. $2S4, ,606. 343 65 It has paid death
 claims for .$93, ,16S, ,669 30
 Endowments
 for ... ....... IS 3,971 ,779 90
 For surrender
 ed policies .. "A, 399, S63 6S
 For dividends 57,251 ,245 12
 A total re-
 turned topol- icy-holders or their benefic- iaries, being 95.91 per cent. of the entire premiums re-
 ceived ....S1SS, 791557 40
 It has paid for
 expenses .. 25,1665S2 or
 Taxes .. ...... 9,29965S 7S Total expenditures .$223 197, 793 20 Balance net assets, January 1, 189S... $61, ,40S, $50 38 It has additional as- sets (see statement). .... 2,180,110 50 Total assets ............. $63, 58S, 660 9S | We invite careful attention to this condensed but very instructive sum- mary of the operations of fifty two years. It exhibits at a glance not only l the magnitude of the good work which has been done throughout all those | years, but also the proof of what we | desire to impress upon the public as our unimpeachable claim to it's conf dence; that we give our policy holders | families the most protection at the | lowest cost. Against the 196S55, ,215.69 | received from our policy holders, we | have already returned to them in the | several ways above noted, $1SS, 79l ,557.- l 40, and now hold as the abundant pro- l lection to their present contracts, S63,- l 5S8, 6609S: total returned to them or now held for them of S252, ,3S0, ,21S.3S, or l 12S.20 per cent. of what has been re- ceived from them. This has been done at an average expense ratio of only 1 S.84 per cent.
 In these supreme tests of accom- plishment the Connecticut Mutual stands alone. And in what it has done, and is doing, these incomparable ben efits have not been, and are not, done 1 for @ class at the expense of another class. They have been and are for all alike We have not persuaded men to put at hazard the protection of their families, nor to leave their yearly over payments (accruing dividends) with us at the like hazard of loss, in l the hope that they may by living long 1 and holding on catch some part of what less fortunate men and less for tunate families may lose by forfeiture. l We have no schemes for despoiling some of our members for the benefit 1 of others. We definitely secure to l each family all the protection it's pru-
 dent, unselfish head pays for; we re- quire him to pay year by year only | what it actually costs for the year; and we have made that cost lower
 than has been done by any other com | pany.
 What more perfect work, to what
 more perfect end, can be done? Respectfully submitted,
 JACOB L. GREENE, President.
 Hartford, February 10 1898.