Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-02-07

tied parts Of most Of our larger cities thus ind
themselves in active competition which can
be met only by q reduction in prices which but q
few years ago were justified By every measurable
condition then In sight For obvious reasons this
great change hiss caused Individual losses which
have led to many foreclosures OF loans Justihabiy
made under former Conditions Of higher and sup
posedy stable values, and the dullness 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 tho security.
In all this experience this company has had
its share along with others. 1t now has fore
closed real estate which cost IL $s,67s5 $685. This
is being gradually absorbed; some at a profit
some at loss. Among liabilities carry
an item for contingent depreciation of about
$350.000. We intend to make no unnecessary sac
rlhces. So far profit and loss account on
ftieclosed real estate whole is 81. SOS 943 to
the good.
In our present limited loans upon this
class Of property We taking such account OF
the conditions referred to as we believe will guard
against future repetition of past experiences.
Notwithstanding the conditions which have
changed and unsettled real estate values In many
well be that when they shall have become more
completely developed and their operations more
fully defined and their inherent limitations better
understood, real estate. the resultant basis Of
values. may recover much Of its former favor. es-
peciaiy In view Of the growing difficulties in OBJ
tanning out OF the great food of corporate Sc
curities those of thoroughly conservative char
acter and for which the future demand is likely
to be far greater than any possible supply The
fcnds asking thoroughly safe investment, whether
by savings banks. Insurance companies trustees
of institutions and estates. private individuals,
need to have available every form of security that
offers stable basis of income and of ultimate
value.
THE BUSINESS IDEAL OF. THE CONNECTICUT
MUTUAL
Every business enterprise undertaken for a
distinct and particular service to the public, and
which assumes to offer men something they truly
need. and something for which those who need 1t
should be willing to pay Its true and necessary
COST carries within itself an ideal Of method pc
culiar and necessary to the purpose intended. ap-
propratc and effective to the form of result intend
ed and essential to its perfect realization.
Especially is this true of mutual life insurance.
married wife and made her dependent on him.
and brought into the world helpless children yet
more dependent has assumed toward them and to-
ward society itself a responsibility not only for
their daily bread. but for all the manifold needs
of their whole dependent future, which he cannot
shirk and remain true man: responsibility
which, in the great majority cases, 1t takes his
whole normal lifetime rightly to discharge and
viii ia
filed, the great loss injury of his dependent
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 replace for all their future that which
his family would lose in his death. There is but
one way in which TINT provision be made at
once and kept always ready and secure. He must
insure his life for the benefit of those who VIII
lose by its loss In otherwise can his rcspons.-
bility be fulfilled for their whole future which is
as much his TO provide for as is their present. p
And it is this which offer 10 do for him, for
them; take his money while be lives and, to
the fullest extent that money, much little.
bles U.s. 10 provide for them when be is gone II
Is a sober undertaking; 1t is his duty; it is
trust. And because it Is his duty. and
tion whose benefit goes to others, but whose bur
den falls him, and in order that the benefit may
be great possible to those who need It, and
that In proportion to the benefit given the burden
him may be small possible, we offer to
do the business the mutual plan; to make n1
profit out of it for stockholders, charge him
q premium which is certain to be adequate and
theas year by year, by careful selection Of risks
by proper investment of reserves, and by economy
In expenses to save much OF that premium ms
possible and return 1t him year by year, so that
each year he gets his a; its actual yearly
cost to the company.
And the full meaning OF. mutually is that what
the plan does for one it does equally for each
1t does not set up scheme of deferred dividends
for twenty years make each man pay his full pre-
MUM each year regardless OF what the actual
has been for the year. make him leave with the
company each years surplus from his premiums To
be forfeited If he dies or lapses, and to be finally
divided up by the one-third-more less-of those
who survive and pay throughout the term; specu-
lation by each one In what he hopes he may
lose bur some one else VIII; pool TO which all
contribute, hut which few only will divide; a
gamble as to vino those few shall be. True
tuaiity in life insurance does not thus seek %
favor few at the expense of the many-to give
the few what the many have lost. Ii charges each
man n premium pfonorttoDed to his risk and
charges every man alike. 1t ascertains each year
each mans like proportion Of the actnai cost OF
the whole years operation: and, returning to each
man what he has paid In excess OF his due part OF
that cost; gives every policy holder alike his
insurance al hs actual cost. with no discrIm!na-
ton IN favor of any one, with no hardship UPON
any one. Each pays his actual cost; each gets
back his own contribution TO tie surplus created
by all alike.
That is the ideal purpose and that is the ideal
me thod-thc actual square deaf'-of mutual III.
insurance.
How truly and steadfastly The Connecticut Mu-
tual has held TO these ideals. and In what un-
egualed measure ii has realized for Its members
and for their Benefclaries their best result Is toll
through all its history, and each recurring vear
witnesses IL
Respectfully submitted,
JACOB l.. GREENE.
JANUARY 23. 1905. 90 President.
TN on O