The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-10-31

used only two ratios In said letter and
they were obtained by dividing the net
gain to policy holders by the premiums
paid by them, anyone can prove for him
self whether the figures are correct or
not and | challenge Mr.. Belts TO point
out any material mistake In them. lie
seems to be unable to comprehend the
meaning of the word "held" as applied
20 the assets of the companies January
!, 1899. / venture to say that 80 9-lO per
cent Of the readers OF The Tribune un-
derstand It perfectly, but for the bene-
Mt of the general manager of the New
York Life Insurance. company for North
eastern Pennsylvania, I will say that the
word refers to the total assets of the
companies at the date given and includes
such Items as the reserve on all policies
as required by the laws of Pennsylvania
and other states the amounts required
to meet all outstanding claims reported
ana unpaid, etc, and the accumulated
surplus TO be returned as profits or divi-
dends when due. In fact the assets
held" by the companies at any time rep
resent their entire income up to that
date from premiums, interest on invest
ments, rents, etc, etc, less amounts paid
for death claims, endowments, dividends,
surrendered and lapsed policies, annuities,
expenses and taxes. as stated In my let
ter of the 9th inst. If this explanation
is not satisfactory to the general man
ager of the New York Life Insurance
company for Northeastern Pennsyl-
vania I respectfully refer him to the "a
b C of Life Insurance" published by the
Spectator Company of New York.
MIR. Belts refers to the statements in
my letter of the 9th inst. as "old straw"
etc. Well, some cf II is not so very old
after ALL as it includes the crop of 1895
the last available. | claim 1t is fair
and compre hensive statement of the man
agement of the six companies referred TO
and any one holding annual dividend
policies in these companies can substan-
tiate Its truthfulness from his own
experience. If Mr.. Belts or any reade"
OF The Tribune doubts this he can find
abundance of proof right here in Scran
ton.
Volume of business appears to be the
only point worth considering by Mr..
Belts and while all companies should be
progressive, quality and not quantity,
should have first place in the manage
ment of all companies If the three small
Ter companies referred to in my letter of
the 9th inst. had been as eXtravagant in
their management as the three giants
during, we will say, the past twenty or
twenty-five years, they might have in
creased the volume Of their business vast
ly. They might have gone to the ends
of the earth to secure risks as the giants
nave done, nut now WOuld an tnlS nave
benefited the American policy holders
how would 1t have served the best inter
| ests of the policy holders of Scranton?
respectfully ask Mr. Betts to show by
| actual facts in what respect the enOr-
nous business of the giants has reduced
the cost of insurance to the individual
policy holder as compared with the cost
| in the other companies named.
What the people want are facts, not
mere assertions. Let us have the facts,
Mr.. Belts, let us havethe facts.
| "A. l.. Duncan.
Scranton, October 30