The herald., 1898-04-26
THE INVESTOR
CONDUCTED BY GEO. A. DoBINsoN
OFFICE OF THE HERALD,
LOS ANGELES, April 25, 1893.
"Haste not. rest not"

f1dSte nut, rest hot
Occa sion is taken by the London Statist
to make the life insurance statistics of the
English people a text for commentary
upon the increase of accumulated wealth
in Great Britain. It's article upon this
subject starts with a reference to the
charge that the British are becoming more
extravagant and less saving, and that the
wealth of the country has not increased
as rapidly as in former periods. The con-
clusion at which 1t arrives, however, is
that the expanding balance of foreign
trade, pointing to increased income for
the foreign Investments in British hands,
and the larger amount of income which
annually comes under imperial taxation.
Enthusiastically indicate a rapid increase
of savings and wealth. But besides this,
It holds that accumulating deposits In saw
ings banks, as we'll as the growth OF life
insurance, are convincing proofs of the un-
soundness of the view that In respect to
savings Great Britain does not compare
favorably with other 0ountries-France,
for instance.
In considering the bearings of life insur-
ancc statistics and the great expansion or
ity in question refers to the well known
fact that the growth Of insurance In Eng
land and other countries fiuctuates from
wear to year. 1t Is smaller in periods OF
prosperity, but, nevertheless. in both good
and bad years the amount set aside In TINS
way as provision for the future Is rapidly
increasing. Ten years ago, says Brad
streets, the British nation paid the sum
of $50, 900 900 a year for life insurance. AT
irna
to $3.50, 900 900 per annum, an increase OF
about $50, 900 900, or 60 per cent, within
decade, during which the growth OF popu-
lation has been only about 10 per cent.
Endowments and other new forms OF pol
icies have doubtless added much to the
attractiveness of life insurance, but the
conclusion, after. full examination OF the
subject, at which the paper arrives Is that
the increased payment of premiums repre-
sent in the main savings.
Among the facts of an interesting kind
referred to is the statement that the num-
ber Of ordinary insurance policies in force
In 1543 900, representing total insurance
of $3.50, 900, 900. The average of each pol
Icy Is thus about $500, although as in
many instances the same individual takes
out a number of policies, the real average
Is somewhat larger. A most interesting
circumstance Is the enormous number of
what are termed industrial policies; that
iy payments of premiums are accepted.
The number of these latter policies in force
In Great Britain IN no less than 10 $50 ,000
representing nearly 40 per cent of the
country's population. The sum insured is
$3.50, 900 900, or an average OF a little less
than $50 each. Thus the total of all poll
cies, ordinary and Industrial is $17 043, 900,
and the sum assured amounts up to $780,
600 900. 1t is also worth noting that in 1888,
when government returns of insurance
statistics began in Great Britain, the en-
dowment insurance policies amounted to
only $125,00 900. According to the figures
just issued they are now something like
$510, ,000, 900, an increase Of 300 per cent or
30 in the space of ten years. From this 1t
would certainly appear that the life insur
ance statistics Of the mother country fail
to indicate any tendency toward extrava-
gance or lack of a disposition to accumu
late wealth on the part Of its population at
large.
In this weeks issue the Baltimore Manu-
. facturers Record estimates that to replace
the vessels taken by the government,
southern steamship companies will be
obliged to contract for at least eight more
vessels ranging from 5000 to 5000 tons each
and costing from $3.50 900 to 100000. This
does not include two 10000 ton steamships
which, 1t is understood, will be built at
Newport News.
o % O
A London cable says that the report of
the British South Africa company shows
that the company has balance of $500 900.
The shareholders are asked to authorize
the directors to issue ordinary shares to
the amount of a1 500 900 for the construction
Of railroads and public works, the shares
to be issued from time to time. when de-
sirable. 1t is believed that 9250 900 of these
shares will be issued Immediately.
O O O
The Northern Pacific Railway company
has declared quarterly dividend of per
cent on its preferred stock payable June 3.
The United States Rubber company has
declared dividend Of per cent upon its
preferred stock out of the net earnings for
the fiscal year ending March 81. This is
in accordance with the notice sent to the
stockholders with the January dividend
that further dividend would be declared
should the net earnings for the fiscal year
ending March 81 warrant it. The dividend
is payable May 90
The Swiss government has prohibited the
importation of American fresh fruits This
action was taken owing to the alleged
presence of the San Jose scale in fruit
Imported recently.
Some Recent Decisions