The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-02-25
the family and then tax the family on that

the family and then tax the family on that
loss
The division of the tax among these men
does not alter its unjust quality. Ii sim
ply 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 others 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
a mutual insurance company is tax on
it's members Individually, and is paid and
must be paid only by them out of their
premiums, SO much reducing tne surplus IIl
to be returned and so much increasing con-
sequently the yearly cost OF their pollc.e1.
1t is not a tax on their property, but upon
their losses, and Is laid upon the money
which is the distributi7e share of each
member in those losses as 1t passes
through the hands of the company 10
make good the original sufferer A..
The remedy for this matter lies WIN tlr.
poljcv holders themselves. They Shouiu
make the immortality and inhumanity OF
such taxes clear to those whom they send
10 their legislatures.
Consolidated Statement.
From its organization to Jan. l, 1888 the
company received
For premiums ..... $l95, 800, 5I2 %
For interest ........ T9,Z92,6 39aS
For rents ......... 7,354,7S9So
Balance proht ana .oo 90 -
loss .............s.' u,IVV''V''ii
Total receipts ...........-.. S2S4'|O0 S4S.e"
IL claims ann for for 80. 1893, 1853, $3.50
EndoWments for l3,9n,U'5V
noI,cias piiei'o a. 3ss, 1853
Fpr dividends 49,. 81, 51,2b12
total returned to
policy holders or
their bepedciarles,
being 959l per
cent of the entire
premiums receiv- - -
1t has paid for ex- -. -o,oc
Taxes .......... 9239,6537S
Total expenditures ....... $223, l97, rs
Balance net assets, az, 40 - 30
Jan l. 1898 SOL sVo o'o'oo
1T has additional as .oo,,o cc
sets (see statement) .'''''''''' -'lsV' ~ W
roa, a.sots Sc, 5ss, $3.50 9S
We invite careful attention to this con-
densed but very Instructive summary Oh
the operations of fifty-two years. ~ e4-
hibits at a glance not only the magnitude
of the good work which has been done
tbrouebout ali those years, but also the
proof of what we desire to impress upon
the Dublic as our unimpeachable claim 10
its confidence; that we give our PoHSy
bolders' families the most protection at the
lowest cost Against the $685. ,2l5.69 re-
ceived from our policy holders, we have
already returned to them in the several
wavs above noted, S1SS, 791 557.4O and now
hold as the aboundant protection to their
present contracts, $63,5SS, $50 9S; a total re.
turned to them now held for them, or
$3.50. $50 21s 49, or $3.50 per cent, of what has
heen received from them. This has been
done at an average expense ratio OF only
Ss4 per cent. - e o,o,,,,,,,;sA
ment the Connecticut Mutual stands alone
And in what il has done, and is doing
tbeee incompa ra BILE benefits have not been,
and are not. done for a class at the eX-
nense of another class They have
been and are for all alike. We have not
persuaded men to put ut hazard the pro-
lection of their families, nor to leave their
YEARLY over payments (accruing dlvidends)
with us at the like hazard OF loss, in the
hone that they may by living long and
holding on catch some part of what less
fortunate men and less fortunate families
NAV lose by forfeiture. We have no
schemes for despoiling some of our mem
bers for the benefit of others. We definite
" secure to each family AL the protection
its prudent, unseltish head pays for; we
require him to pay year by year only what
il actually costs for the year: and we have
made that cost lower than has been done
by any other company.
What more perfect work, to what more
perfect end, can be done?
Respectfully submitted,
JACOB L. GREENE. President