The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1905-06-17
Life Insurance.

''Probably few persons know there was
a time when life insurance was regarded as
an impious attempt to change the DEGREES
of Providence, y said local agent, who
has given some attention to the history of
life insurance, ''but not more than 60
years ago New England preacher firmly
denounced the wicked attempts Of the
unholy persons who seek to thwart or con-
troll the fixed decree of the Almighty by
money meddling and gambling on the
eternal veriries of life and death That
day has long passed, however, and now life
insurance is more generally regarded as a
religious duty than otherwise
The religious opposition to life insurance,
says the indianapolis News, was probably
the reason why fire insurance antedated it
by many years. Both had their origin in
this country in Hartford, Conn. which is
! still an insurance stronghold. The Hart
! ford Fire Insurance Company was estab
lished in 1910 and the Etna in 1919.
The latter company began with capital OF
$3.50. 900. The expenses the first year,
including 1928 for the secretary ; salary
and rent, reached the alarming total of
S45l 80. In 1850 the capital was
doubled. The assets were S456, 32I and
the liability for losses Sl4l 544. The
Hartford companies first set the example,
since followed by MANY others, of paying
heavy losses promptly, even at the risk OF
their existence. In the great New York
FIRE Of 1888. when the losses were "a great
1t was feared no company could pay them,
the president of a Hartford company drove
all the way to New York in a sleigh in
freezing weather with the secretary Of the
company and the money to pay all losses.
This prompt action gave the company
great prestige Five out of nine Hartford
companies were destroyed by the great
Chicago FIRE, their losses amounting to over
sll 900, 600 But every loss was paid in
full, even by the companies that were
wiped out Of existence.
Ii was not until 1860 that regularly
organized life insurance company existed III
England, where marine aud fire insurance
had prevailed long before. The business
/ Is little more than fifty years old IN this
country. Among the SIX life companies
now existing in Connecticut, the Connect.
cut Mutual i the oldest. having been in
eorIorated in 1916. The .Ftua had. al
ugss, since it, origin IN 1919. possessed
the privilege OF granting aupuitics, bu, II
did not ~ regularly into life Insurance
until $50. Now the United States Is la
10 advance uf any other country 10 th,
number Of life companies and the amount
81 business done
According to latest statistics, the amount
II hie lusuranc,. 10 force IN Great BTitais
iss4.34l. 522. 975 in France. S120, Poo,
600 in Germany. 81 1890. lG2, Gs5; ii
the Uuitrd S,lic>. SIT. asa, 49,. 753. Il
1903 eighty camyani,9. in the Unite,
S,ates had assets Of 2,O9I. So >5i re
c,,iyci premiums during the year amount
ing 20 sl0G 9lG. jg7, and paid policl
huldsrs In hSzez. dividends, >urrenders
etc Slq9. $50. T2l During that yea
; POS. 2>S ucw policies were issued
amounting tn 2.33S. 13t, 400, and ih
total number II Policies In fory, was Il,
GO $50. amounting 10 sic. sos 1872 3si
These tcur,s ShoS the enormous proper
sious 1t the business IN the nted Stale.
Insurance, with al of it- departments
has lsecuae So .trict \ SCIENCE and i now
49, intrr#ovcn with the hab,,s and IA,
financial affair. If the whole people tina
the proper comprehension of IT. 'u.r'caci'-
requires trained mathematical mind