Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1902-01-09
Northwestern Us. New York Life
ANOTHER CHAPTER.

nUllllh GSlGIll YS. Nun lUlk Liz
ANOTHER CHAPTER.
A day or two ago the special agent
OF the New York Life embellished a
quarter page Of advertising space with
a comparison of actual settlements in
1901 on policies of the New York Life
and Northwestern Mutual Life Insur-
ance Co. of Milwaukee, one Of which
settlements credited to the New York
Life was on policy of Albion w. Baker.
For fear anybody should regard these
examples with any seriousness a few
remarks may be necessary as showing
the length the New York Life will go
for examples, especially with reference
to the policy of A. w. Baker upon
which Mr.. Edick relies to establish the
superiority of the New York Life as
compared with the Northwestern.
In June, 1901, the Northwestern Of
fered to forfeit to DR.. Emil Fret of
Brooklyn $500, if he could find the
record of any New York Life policy
that had paid as large a dividend as a
Northwestern policy issued in the
same year, on the same plan, at the
same age, and compared for like
amounts.
He was given a free field to select
any dividend from the 511, 900 policies
of the New York Life, and he was en-
ergetieally assisted in the almost hope
less search by the well organized null
titude of New York Life solicitors and
workers. For over a month he was
unable, in spite of continued efforts to
get any representative of the New York
Life to bring forth a record; but won
ders will never cease, and at length in
August, 1901-the needle in the hay
stack was found in the person of AL
bion W. Baker-the same individual
who now looms up as d bright and
shining example of New York Life SUI
periority.
But as it happens the Baker policy
is n of those peculiar proofs that
fails to prove what they are intended
to prove.
Brother Edick-good, supplemented
fellow that he is-neglected to state
the mount Of premium paid in each
case, and consequently he does not
show the fact that the Northwestern
Is actually a better settlement-which
goes to show that the New York Life
is maintaining it's reputation as the
"artful dodgers of the life insurance
world.
But let u~s~consider that prize divi-
dend a little more. Is it a fai: ex-
ample of New York Life dividends?
Is 1t an honest example? Hundreds
OF New York Life settlements on all
ages and plans had been seen, but
never before one whose dividends were
not beaten by similar Northwestern
policies by from GO per cent to 100 pei
cent Immediately, therefore, a Wig
orous search was begun to find a rea-
son for the sudden improvement in
New York Life dividends. The most
searching proof has failed to give a
legitimate reason. We can only con-
lecture. ..-
The New York Life official estimate
books give the dividend books for such
a policy $1,41O. Bakers dividend is
$1,747 SOP per cent higher. Their
estimate books for 1894 to 1901 all give
$1,41O. Why this increase in 1901?
Pehaps they will tell you their esti-
mate books are incorrect; but their
book results on all other forms that we
can find have been within 50 per $1,000
OF actual settlements. Naturally
there is but n conclusion, and that is
that the result has been made to fit the
case regardless of the dividends paid
other Observation-Disclosures of the
dividend earnings of the company. .
Such tactics are peculiar to the New
York Life. Read the following ex-
tract from american Investments, a
financial journal published at Buffalo.
New York, which applies in the case:
J. Suppose a man should call at your
house and show you the finest turnip
your blooming eyes ever saw, and from
the character of the sample. sell you a
wagon load, which, upon careful scrut-
my you found to be measley nubbins,
what would you think Of him? You
would probably call him a cheat and
a fraud and very properly too. Well,
now, suppose a life insurance COM
pany that has been making settlements
OF its tontine policies so rocky and dis
appointing that it has become a public
scandal, should single out its fifteen
year tontiners and increase settlements
upon them not justified by the actual
results of that class of policies. simply
for exhibition p,rpocac orJ- -l.L