The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1905-04-27

they are certainly getting an insight in
to the workings Of big insurance
company entertaining whether it turns
ont TO be valuable or not. Whether 1t
turns ont TO he valuable depends on
what use the iusnring public makes of
its information regarding the insurance
business.
The Alexander salary lisl embraces the
salary Of the president, James W.
500 600; William, brother Of James,
secretary, 10000, Henry w, son of
James w, attorney, $4,000; Frederick
-, son Of James w, banker gets S2j,
600 ont of the funds Arthur pell, brother
in law Of James w, is a medical di-
rector and has salary Of $4,000;
John t'ilchrist, nephew of James w.
works in the security department, and
gets $1,000 The total income of the
Alexander family. drawn from the in
-urance company is $50 600,
There il law firm Of Alexander &
Green Of which Charles Beatti AleXan-
der il senior. which draws, 40 the re.
port has it, 5000 Geo IL year in fees and
retainer But as Charles Beatti is an
opponent Of James W, IN the present
legal fight, being of the legal advisers of
the noble family of Hyde, the unfairness
Of charging him and his income to the
Alexander family headed 10y the noble
president is manifest
These salary lists give IN idea of where
the money goes 1t does not all 90 in
salaries, Of course. There is no end
TO other expenses 1t costs like sixty TO
run big life insurance company.
What do the people who are insured in
the Equitable suppose it cost to pay the
expenses of management of the company
for 1908 Well if they think it did not
cost so very much. what Dc you say to
) ,ll3 339? It would not seem that there
could be any money left for any other
purpose after that hut there was. 1t is
a fact that the management of the com
pany is proud to publish, that i'll addi
tiuu 10 all Of this expenditure for cost of
running, the company still had Sls,359,
,6I with which to pay death losses, and
that il did actually pay this amount be
sides meeting all Of the other demands
on It's treasury.
It l. understood that when big
/ life insurance company is able TO keep
its expenses within the figures that re
present death LOSSES, it plumes itself,
and publishes the fact ~ nm argument
why people should bring il new business.
/ The Equitahles expenses per ~ 600 on
/ total mean amount of insurance in force
WAS $40 81.
The New York Life was not able to
make this showing for the year 1908 Its
expenses Of management were nearly
one and half millions larger than its
death LOSSES being 81. 219, 2l2 while the
death LOSSES were SIG 20 SIS This com
pari.ou might he made use of in show
ing what q long lived lot of people ar,
~ the New York Life. The expense PEI
# oooon total ncanamount Of insnranc,
III force il $l 10
The New York Mutual Life also make,
something Of showing along thes,
same lines it, death LOSSES amounted
10 SO 30 ~ aud its expenses per eacl
81 goo insurance in force was 81 LILO.
This il what might be calleu frenzie,
life insurance The three big com
puniee paid ont during the year 1903
S1l.a~o TOO death LOSSES, and il cost then
SlN9'i963 IN expenses Of management
tedoit In other wotd4 for every ~ /
paid IN death LOSSES i went TO the item
1t salaries balls, and other nccessar,
expenses The Free Press.