The San Francisco call., 1905-02-10
INSURANCE.
have been sold; the recovery on those
still held is over S576. 900.
Real Estate and Loans.

nave Deen solo, the recovery on LuOSa
still held is over S576,000.
Real Estate and Loans.
One OF the most remarkable, as it
was the most Unforeseen Incident OF
the financial history of the last two
decades. has been the changes
wrought in the conditions affecting the
values of city real estate, caused
mainly by the development of street
car service. Before the advent OF the
electric trolley living at distance
from business centers was difficult and
expensive. Population tended to
gather compactly in their near prox-
unity 1t spread only as it was forced
outward by the spread of business
This tended TO both increase and
( steadiness in values and to certainty
In their realization. To-day the elec-
trio street car with its speed. it's COM
fort and Its accessibility, the free mail
| delivery and the telephone, have
largely reversed the conditions and
are leading the population to spread
out freely IN search or space, light.
air, more privacy and cheaper land.
The older settled parts of most of our
larger cities thus md themselves in an
active competition which can be met
only by reduction in prices which
but a few years ago were justGed by
every measurable condition then in
/ sight. For obvious reasons this great
/ change has caused individual losses
which have led to many foreclosures
| of loans justihably made under for
mer conditions of higher and suppos-
edly stable values and the dullness OF
| the real estate market, due in some
part to the continued operation Of the
| changes noted, have in many cases
compelled the lender to become the
owner Of the security.
| In all this experience this company
has had it's share along with others
It now has foreclosed real estate which
cost 1t $8,67S, ,59S. This Is being gradu-
\ ally absorbed; some at a profit, some
at a loss. Among our liabilities we
carry an item for contingent deprecia-
tion of about s350.00O. We intend to
make no unnecessary sacrifices. SO far
our profit and loss account on fore
closed real estate as whole Is 81. $685.
943 to the good.
/ In our present more limited loans
/ upon this class Of property we are talk
/ ing such account OF the conditions re-
ferred to as we believe will guard
against a future repetition Of past ex-
\ periences.
Notwithstanding the conditions which
have changed and unsettled real estate
values in many localities. and which
are still in progress. it may well be
| that when they shall have become more
completely developed and their oper-
/ atfOnS more fully defined and their in
herent limitations better understood.
real estate, on the resultant basis OF
values. may recover much of it's former
/ favor, especially in view of the growing
difficulties in obtaining out Of the great
1 flood of corporate securities those OF a
/ thoroughly conservative character and
/ for which the future demand is likely
i to be far greater than any possible sup
ply. The funds asking thoroughly safe
/ investment, whether by savings banks,
insurance companies, trustees of insti-
\ tutiOnS and estates, or private individ-
uals. need to have available every form
of security that offers stable basis OF
/ income and of ultimate value.
| The Business Ideal of the Connecti-
| cut Mutual
Every business or enterprise under
! taken for a distinct and particular
service to the public, and which as
sumeS to offer men something they
truly need. and something for which
/ those who need it should be willing to
pay it's true and necessary cost, carries
/ within itself an ideal of method pecu-
liar and necessary to the purpose in
tended. appropriate and effective to the
I form of result intended and essential to
it's perfect realization
/ Especially is this true of mutual life
Insurance. 1t takes note of the great
i fact that he who has married a wife
and made her dependent on him, and
Brought into the world helpless chill
dren yet more dependent. has assumed
u toward them and toward society itself
a responsibility not only for their daily
1 bread. but for all the manifold needs
of their whole dependent future, which
he cannot shirk and remain true
man; a responsibility which, In the
great majority of cases, it takes his
whole normal lifetime rightly to dis
charge, and one which his earlier de-
cease must leave unfulflled. to the
great loss and injury Of his dependent
4 ones. And the risk, the danger OF
this loss, rests upon them day by day
and every day. In the great majority
of cases there is in hand no financial
provision fully adequate and available
to replace for all their future that
which his family would lose in his
death. There is but one way in which
that provision can be made at once
and kept always ready and secure. He
4 must insure his life for the benefit OF
those who will lose by its loss. In no
otherwise can his responsibility be full
filed for their whole future, which II
. as much his to provide for as is their
present.
And it is this which we offer to do
for him. for them; to take his money
while he lives, and. to the fullest ex-
tent that money, much or little. en-
ables US, to provide for them when he
is gone. 1t IS a sober undertaking. it
,
cause 1t is his duty, and transaction
whose benefit goes to others but whose
burden falls on him and In order that
the benefit may be as great as pos
sible to those who need 1t. and that
in proportion to the benefit given the
burden on him may be as small as
possible. we offer to do the business on
the mutual plan: to make no profit
out Of 1t for stockholders. but to
charge him a premium which Is GER
tain to be adequate. and then, year by
year, by careful selection Of risks. by
proper investment Of reserves. and by
economy in expenses, to save as much
OF that premium as possible and re-
turn 1t to him year by year, 50 that
each year he gets his insurance at its
actual yearly cost to the company.
And the full meaning Of mutuality In.
that what the plan does for one it does
equally for each one 1t does not set up
scheme Of deferred dividends for
twenty years, make each man pay his
:. full premium each wear regardless OF