The daily morning journal and courier., 1904-02-10
rHR coNNEcT1cuT MUTUAL.

h1I &04N4N1<S1AN N V Ae ! v
 The annual statement of the Con- necticut Mutual Life Insurance Com pany pany and the report of its presi- dent, Colonel J. L. Greene, appear else where this morning. The company during the past year has increased it's premium income, it's interest income, and it's net assets, has maintained it's phenomenaIly low expense rate, and has reduced by $7SO,000 it's item of real estate held under foreclosure. It shows assets of s64, ,9s2,955 and a surplus which according to it's own low scale of figuring, is $4.63O,000, and, according to the usual 4 per cent, reckoning. would be about $S00O,000 more. It has in force 7o.15O policies insurlng s166,- 4,50o
 The assets of the company are in fine shape and the stocks and bonds are all of high class and have all paid their an- ticipated return with the single excep- tion noted, in the case of the city of Galveston, where the security is ample and payment will have to be made. The decline in market values amounts to about points on the 1925, 900 or more of quick assets, but their income producing quality is fully maintained and they still show profit of about $1, ,000,0 900 above cost.
 During it's existence the Connecticut Mutual has received from its policy holders 227,347,Ss7 and it has returned to it's policy holders $227, ,11S,9S4, or 9s.9 per cent. of all that has been paid i11. It still holds s65 coo of their money, which is five to eight millions above it's liabilities. The steady fall in the rate of interest has at last brought the Con- necticuti Mutual to reduce somewhat the rate of dividend to policy-holders, which for the past twenty-three years has been unmatched by any other com pany, but in this it is simply doing what others were forced to do years earlier The wise course of President Greene in voluntarily adopting back in 1s3a the 3 per cent. rate for his calcula- tions has operated to produce much greater surplus and to defer and lessen the reduction of dividends. This 3 per cent basis has been gradually adopted by practically all the life companies in the country, although, when Colonel Greene set the pace about twenty years ago, his s.conservatism" was frequently criticised.
 N The watchword of President Greene's policy is conservatism and in this re- port as heretofore, he opens upon the methods of those companies that seek business by going outside the legiti- mate field of life insurance. He pre- diets that, if the "liberalizing" of peli- cfes goes on, 1t will not be long before the companies themselves will exist from day to day only because the in- sured refrain from exercising the rights :, granted them. If they can withdraw all their money at will, they have it in their power to close up a company at any time, while persistency is one of the essential factors in life insurance.
 In contrast with this he says:
 In the midst of this sort of conlpeti- ton, which brings an enormous busi- ness but with enormous waste, at an expense which is as reckless as it is unnecessary, and which contradiets ev- cry principle and method by which pro- per and adeauate results as to the se- curity of contracts, the cost of insur- anee, equity between members, and the integrity of the company itself can be assured, the Connecticut Mutual holds steadfast to the truth which be it nev- CT so widely or lightly disregarded, can never be denied, that the paramount purpose of life insurance, the one and only peculiar service it is constructed and fitted to render, which it alone can render, and the only one worth it's ne- cessary cost even at a minimum, and the one spring of it's high motive, is Ito defend and provide for" those whose welfare depends on the continuance of ones life and who must suffer in all their future by it's loss.