Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-10-18
INSUAANC PROFITS.
Nevada Commits ion r Gives Interesting
Figures an States Facts.

There seems to be some misappre-
htrsion in the minds Of policy holders
n the New York Life in this state"
nid Sam P. Davis controller Of Nevada
and one Of the insurance commits
sI0Hers "as TO the value Of t.eir
policies, They are perfectly good, as
there Is no question az to the solvency
Of he company. The earnings OF the
company are not all going to the
policy holders. ] claim that some of
ibis surplus should be distributed IN
lY3a1ds at regular intervals. The
policy holders viii set every dollar pro-
npl by the company. but l do
An they should get more.
" better Illustrate, IN 1873 the Mu-
tw. Life Of New York collected over
lW0)0 and paid OF this over $4,000
10 to The polly holders-about Al per
cent IN 1851 they collected over $780,
Weo and paid but little over $1,000,
W % The policy holders--about 4 per
cent The New York Life In go col
ecle1 nearly S6,0O0,O0O and paid out
ABOUT sl5go0O to the policy holders
aoou. 80 per cent. In 1901, they col
ec'ed over SJ6,QQ0,000 and paid but 49,.
NVyW TO the policy holders about s
per cent
The question is whore do the vast
9rnlnss go TOP It is apparent that the
more business they do the less percen-
Mse OF the surplus go to the source Of
az the wealth the policy holders.
VU OF about slXty-two million
'hch some twenty leading companies
received prior u 1880 the whacked up
twenty-five millions with the policy
l'ilers but when In 1901 these same
9Hpinles aggregated over two hum
area ana nifty million the policy hold
ds got back but twenty-one millions
sAtA was eight per cent as against
iN9Iy per cent representing the other
.INaehas they received. That means
wa. prior 20 1850 the policy holder was
s'Vnng hva times as great a percentages
VI, lls Investments as now.
. IAese figures I have taken from
as lloes published for years past in
ps,@l2E lhe leading Insurance Jour-
vs.. 10 the United States and no other
insurance man viii dispute them.
Inc three leading companies I'm
,ts~ York the Life Equitable and
NlIsi, have q surplus Of over a bill
Ion dollars.
They can have every dollar Of these
nsD1l'les ON hand 10 their offices when
'"g annual examination comes of the
,s1ItNce commissioner and the next
ta! 'hsy can hyp0thicate them and
, u-es q stock deal that will break the
.lIINsl or bull II as they determine,
ttua oll or tne wrecks OF other fortunes
S,,!s, reap staggering profits, They
a- i,''ie lhesa deals on money not their
XXI uul formulated from the policy
~ 9.s' Ihe policy holders get none
~ W.'e profits, The profits on the
g'e1' bushes Of some Of these COM
ta,'ss merely buys a persian rug for
g,. I.e.'a.H.s office but a solid husl-
y,., I,Wap.a Ia being violated when
,r. - Sahe other peoples money 10
r yIi. i-'.,e WIN and don't give the orlgi-
~. 'ior BITS share Of the profits.
ri.sH-t lt" policy holders money and
IN. aeHrooiate the values OF the
tG5iuota stocks held by the same policy
r -o,.eLs aHd acquire control of the
',. wi. no reduced figures.
,rii gy No'k the market up and down
NV "nipa" the deal sitting out
9,, ptIo9.s both ways. still they say
b'i.. u Is HI legitimate because tho
N Sioo' On. policy holder gets the face
Nry I'',y when he dies. "--Elko,