The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1905-02-04
To the Members:-

Mutual in its fifty-ninth year was sat
isfactory and may be thus outlined:
Some increase in the new business
written, in the amount of business in
force, in premium income, in interest
and rents, in assets and in surplus: a
somewhat heavier mortality than in
the preceding year, though still con-
siderably less than that expected,
giving a saving of s252. S23, with no out
standing contested claims; con-
siderable decrease in the amount and
cost of foreclosed real estate; a re-
covery in the market value of other
securities of over $576,OOO as against
the shrinkage of about $4,000 in 1903;
reduction in the ratio Of expense to
income; sound condition throughout.
The company continues in that steady,
full tide Of beneficent operation which
has for so many years distinguished
it among all others, by administrative
methods which hold always one grand
object in view; a maximum of result
to its beneficiaries at a minimum of
cost to its policy-holders, each and all.
All details will be found in the
financial statement which accompanies
this report. >.
An Interesting Summary.
A summary of the operations of
fifty-nine years may be stated thus:
Received from polcy-holders, $2S2,759,-
264.S3; returned to policy-holders and
their beneficiaries, s2s4. s5S, 4SS.sS, or
1884 24.65 more than the amount re-
received from them; with assets in
hand of $65, 224 ,S41,5s, and a surplus of
S4,S2S,696.64 with which to meet a
liability, actual and contingent, of $780,
3s6,144.S9 on $167.167,515 at risk on 20,
454 policies. Except in the possible
case of some society or concern with
only local and Slight membership,
no comparable results have been ac-
eomplished by any other American
life insurance company. 7"
Persistence Of Business.
AS for many years past, most
gratifying feature Of our experience
has been the persistence Of our bust
ness. It has been no small factor in
the company's prosperity. Business
which goes off rapidly can be replaced
rapidly only at an undue cost. Bust
ness which stays costs little, and per-
mits the taking of new business suffi-
eient for a uniform good experience
at such moderate cost as does not dis
turb the favorable average. That is
one of the simple secrets of The Con-
neeticut Mutuals unequaled success.
New Business; Its Character and Cost.
The new business of the year some
what exceeded that of 1908, and also
exceeded the amount OF business ceas-
ing; so that there was some increase
in the amount in force. The new BUSH
ness was selected with our usual con-
slant care to take only such risks as
are likely to give the same favorable
mortality experience which has been
so large a factor in reducing the act
ual yearly cost of our insurance hither-
to; and it has been taken on the same
low basis Of cost which has been di-
Irectly reflected in our large dividends
to policy holders throughout the COM
pany's lifetime.
To the faithful agents who in the
midst of a thoroughly demoralized
competition and despite the always
pressing temptation of much higher
commissions and allowances from others.
choose to abide steadfast in our SER
vice because of it's greater value to
those whose need they sincerely seek
to serve, there is due alike from the
management and from the policy-hold-
ers benefited thereby, the distinct and
constant recognition of the high, I'M
selfish quality Of their 1abors for the
greater good of the whole member
ship.
Relation of Mortality to New Business.
The public is often given to under
stand that as large and rapid influx
of new business tends for time to
keep down the average age Of the bust
ness as a whole and so to make the
death losses appear a smaller percen-
tage of the whole amount at risk, it
really gives a comparatively better
mortality experience and therefore
justifies it's abnormal cost. This is not
true. 1t bellies the whole basis and
structure of life insurance. 1t is worth
moments examination
Take 10000 sound men, aged 3d. in
sured for $4,000 each, or $100,OO0 900,
altogether. We know within safe
limits how many of these men will die
each year until all are gone; we charge
each one the premium adequate to
| meet that rate of loss, and from the
premiums make the proper reserves.
| The first year opJv "a will d;a 49,