New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-23


- nent ACKNOWLEDGEMENTS. sg'ase6
Taxes .......-...................... of''sSo.4S
Total expenditures. 7.5SssS5s
Balance net assets january l. 1888 81, 4os 5oSs
Add interest, due and accrued,
market value OF stocks and
bonds over cost. and net de-
n n1Iga S as per r' ,tem2ed state
fnent Aio"l'o'
Gross assets January /. 1898 s63 SIS SEQ g
Surplus January /. 1sss............... 1850 s3sn
The General Results in 1897
have been satisfactory Notwithstanding con-
ditons not wholly favorable. The recovery from
the previous business depression has not been
rapid complete as many had hoped
the uncertainties OF confused currency system
still remain to keep prudent men wary; great
caution has prevailed TO extended and new
undertakings; the demand for loanabe 1unds
on our usual standard Of security mas oeen
small; the price OF desirable bonds mas IN
creased. which means lower interest rate on
such securities; the lquidations growing out OF
the depression Of the last five years, which have
made il necessary TO foreclose some OF our mort
cages have not entirely ceased, and the market
for real estate has in consequence seen no gen,
eral revival such may be anticipated when al
the disturbing conditions shall have disappeared
Although there has been a growing amendment
in some Of the conditions affecting the many
/ sided operations OF life insurance company.
something Of the special difficulties or recent
years has remained
What Has Been Accomplished
II is therefore gratifying that at substantially
the same unequaled low rate OF expense as
heretofore we have more than kept our volume
OF business good. have maintained to the fuIl
the company's great strength, and, from the
savings through economy, from the SAVINGS on
a mortality more favorable than our caucula-
ton and from the interest earned over and
/ above she rate calculated upon. we have earned
a dividend on the same increasing scale as that
paid during the year 1897; oiVioeho equa4oN
by other company.
The Full Measure of Our Success
In Judging the success OF a company one
should have clearly IN mind what is the precise
best standard OF accomplishment which 1t can
set for Itself: the highest which the business IN
trinsicaly permits; 10 completely realize when
Is the only true success. and. failing which. no
achievement in the way Of magnitude In oper-
alton can be other than comparative fa!Iure.
ina Connecticut Mutual takes for lts single aim
the one peculiar service which HE insurance
Z alone can render and which no other INSTITUTION
I can rival: The perfect protection OF dependent
families. at the lowest possible cost-the cheap
est simplest most thorough family protection.
BY dint Of ncessant care and economy al eNeI!
I uoinf IL has succeeded and does succeed IN TINS
nurpose as none other has done or is doing 1t
secures the best and highest ootalnab!e resuIts
from the prudent and unseliish pohcyhoIue'
tain these II steadily foregoes those things Tor
which others strive at such fearful cost, 10
Wit rapid growth and enormous size; things
very impressive, even startling, 70 the general
eve but which do not benefit the policy holder
in the slightest and which can be had only at
/ an enormous cost, which ne must pay.
Therefore the Connecticut Mutual refuses 10
/ seek TO attract any other constituency than
/ those who desire TO give their families and es-
.ates the highest protection at Its lowest POSI-
/ bic cost in furnishing which II stands alone.
And u-a1 doom
mem bership to consider their interest first. to DO
/ the best We can for them 20 make their insur-
/ ance as secure and as cheap as possible rather
/ than seek 70 greatly Increase their nunoe D.
+ schemes which would greatly increase the cost
I = their Insurance and benefit them In no wise
/ We prefer TO draw 10 us new members those
/ who desire to share IN the present low cost or
] Insurance 70 our old members and who can ap-
precata that benefit at its full value, rather
than attract men by speculauons in diVldehus
! postponed ten OF twenty years of sreaI , az
/ parent promise IN the far future. the promised
/ or estimated" benefits Of which could. at least
/ be realized for but few by the sacri1ce or the
/ many. and which by reason Of the enormous eN-
/ penses Of the companies floating them have so
/ FAR been and must continue TO he egreglously
/ disappointing Thousands Of their old pohcy-
holders know just what We mean.
The interest Standard.
One Of the most interesting events OF the year
! has been the change by number Of companies
| IN the rate Of interest assumed in calculating
.beir rreuniurns and reserves in which respect
they have more or less closely followed the ac-
ton Of the Connecticut Mutual sixteen years
ago In 1889 we became satisfied That the fapiu
| Increase Of wealth in this country ana the IN
| craasfng confidence Of foreign investors In our
/ resources were certain 10 so increase the supply
~ capital as to cause a serious ana proiohseu
decline IN the rate ~ interest on -
| Investments We We're then as al other com
| NAMES were calculating our premiums ana re.
serves on the assumption Of earning al least
rar cent annual interest for all the tline any %
1f..f.s mi obi
~ least seventy or eighty years. We became
/ satisfied that this assumption was not ehliei!
safe and that per cent. was as hish aat 80, as
/ could be safely assumed for so long time
/ ahead That rate accordingly then adopteu
~, rs 10 our continually increasing Satisfaction
e,,er since At the time our action was inucn
ett,,5sn6 &C unnecessarily tinid instead Of
/ rraIlv conservative, and our rivals anected 10
treat II as a mark OF weakness rather tnah
I ,,rrdert provision for future strength ana
safety. But that which We then foresaw ana
| guarded against as the ineNitao!e result o'
causes then operating has been 20 luly va.
strated by time that the way OF - uNI thns,
/ become clear 10 all. even TO our then hershes'
critics.
sundry Matters
T. &c our usual habit 70 take up the various
items ~ the years operations and comment
rnon them In detail But the effect OF these
items Is fully set forth in our detailed nnhhcla'
statement herewith. and as the experience OF
the wear has developed nothing or unusuaI III
significance respecting lLeIi' w -"
ture TO use the space usually devoted TO theI.
10 call your especial attention TO mater OF
profound personal interest 10 every pohcy -holueI
in every mutual company. namely
The Taxation of Life Insurance.
A,,onq the most threatening features OF our
nolitical life to-day is the disposition OF those
concerned in various enterprises 10 turn 10 the
state for aid and also the disposition Of legis-
lators TO grant such aid either 10 win popularity
mr. 70 avoid unpopularity. States have no income
except from taxes What they give 10 one mas 70
he first taken from others by taxation Ine!
bova nothing Of their own 10 give. In order 10