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Les diagrammes suivants illustrent la mdthode. y errata id to rtt ie pelure, pon d 1 2 3 32X 1 2 3 4 5 6 ^rMMWJas-rvapQWMwrHnMOMiHPq^VVifitni^ HNS BE AN EXPOSURE SHOWING THAT INDIDS OF HAVE DISAPPEARED, AND HUNDREDS OF THOUSANDS OF FAMILIES HAVE BEEN RUINED. AN EFFEOTUAL BEMEDY PIOPOSED BV THOMAS RICHARD JOHNSON^ And Avditor of an Insurance Company for IS yearn. Heaa Cur^futly ama hand f« yotcr JTHrhbotu NEW YOHK. Jni.T, 1878. ^3/ yr.2 3^M:^ /»r jr lifi ti ■■I'.ia^^'f-itij-'^'-- ■■%( Life iNsmNCE Eobberi AN EXPOSURE BHOWINO THAT B HAVE DISAPPEARED, AND HUNDREDS OF THOUSANDS OF FAMILIES HAVE BEEN RUINED. AN EFFECTUAL EEMEDT PROPOSED THOMAB RICHARD ^JOHNSON, AnS. Audiior of an Insurance Company for 15 years. Read fkirefulty and hand to your JVeighhour. NEW YORK, July, 1878. 9i i^miiiimmm0Mm H ^i^' Entered aooording to the Act of Congrosa Id the yeftr 1678, \>j THOMAS R. JOHNSON, la the office of Librarian of Congreaa at Waahlngton. ii irn^ PREFACE. The magnitude of a work does not always consist in the number of its words or pages, but in the manner of putting the facts together and in supporting the illustrations with unequivocal evidence. Comprehensiveness on such a sub- ject as is here treated is presumed to be more desirable than au inexhp.ustive essay ; and even at the risk of omissions, I have endeavoured to make this little work " Multum in Parvo." Confidence is unquestionably the main spring of swelling the area of enterprise, in the same manner as integrity and economy are absolute essentials to success. When these three are combined, failure is almost an impossibility ; but, on the other hand, when they are lacking, just so sure will trouble, disaster, and even bankruptcy follow ; thus we see the sad rpsulfcs of inconsiderate recklessness on the part of those Life Insurance Companies which have estranged them- selves from these elements of power. With the most profound desire to guard and guide the innocent in making provision for their nearest and dearest on earth, yea, their own flesh and blood, I have laboured not only to expose the dangers and frauds of the present illusory system of Life Insurance, but here propose a plan th^t will embrace all the ingredients essential to success ; in fact, one that should caU forth all the energy of the whole country {•^f that were necesiary) in impressing on their Representatives at Washington to pass such a law next session as will place within the reach of the masses the means referred to. And ■I t w for the reasons herein given, it is most conclusively evident the interest of all to agitate and spread the work as quickly and fervently as possible. Should J receive the sympathy rnd co-operation of the public, and it becomes necessary to do 80, 1 may be induced to add another, but a more extended edition on this important matter as proposed, which is the very acme of happiness and prosperity to the whole Republic. I need scarcely atid that the tables appended merit care, ful study on the part of the reader, as they have all been studiously prepared from the Government Reports now in my possession ; to which is added table G, illustrative of the working of the Government plan, which I have the honour to propose. THOMAS R JOHNSON. Nkw Xo". ^^7» *8^8' ■ Ii l l » 'i''iwiiwww»»«'>iNwi 'iFE Insurance MobberyI The above title is precisely the same aa that which headed an editorial I saw some time ago in a newspaper published in this State, which at the time attracted my attention as worthy of the most careful consideration, and consequently will be here reproduced in part. Having been refused the use of the columns of the press to ventilate so important a matter, I am constrained to use this method of laying bare the astounding developments that have come to light through an arduous study of the whole subject, undertaken in the interest of the entire population ; taking as data for what I now produce, the Government official reports and a few extracts culled from the press. At the outset, I wish to state that my object is not to shake the confidence of the public in those Companies that are worthy of credence, nor to make any personal charge against innocent and highly honourable people, who may be unwit- tingly associated with most plausible but unscrupulous spec- ulators ; at the same time, the sequence will show that my labours are directec' against the whole illusory system of Life Insurance now in vogue, and to propose an effectual remedt/, which only requires to be reasonably considered to be highly appreciated. The reader will also observe that my efforts are largely directed in the general public interest, regardless of any class or combination of monopolists. I will here give a few extracts from the press, leading off with excerpts from the editorial already referred to ; and will •dd, at the end of this pamphlet, several tables to illustrat* the correctness of my deductions. "Lire InSURANOB ftOBBERT. " The most gijjfantio system of robbery in our time is " Life Insumnce. The syatom of Life lusuranco robbery in " this State has reached such dimensions that ihu public " patience is exhauste*!. There are to-day, in tius whole " country, in our opinion, not many above a score of solvent, " reliant, honest Life Idsuranco Companies. Scores of the " Companies were conceived in fraud and bom in iniquity — " mere contrivances to make fat salaries for certain drones " and incomp«tent8, and enrich a few directors. . Many of " these Companies are confeswdly bankrupt — many ai'e " trembling on the veige of insolvency. Indeed it has be- " come quite a thriving business to organize Companies on " purpose to fail. Such a Company gets all the risks it can — " contests all its losses — and suddenly discovering that it ** can't pay, offers to re-insure in some other " ahyster" Com- " pany. Some of its policy-holders surrender their policies " for a trifling amount of cash — never by any possibility " half the amount of premiums paid ; others let their policies " lapse, and the result is that somebody makes a handsome " profit by the operation. Tlie public is rapidly losing confi- " dence in them, and we foresee that unless these things are " corrected, the wholj system, in less than twenty yeai-s, will " fall with a crash that will involve thousands of helpless " and innocent people, and possibly result in riot and blool- " shed." The Insurance Commissioner of Massachusetts, in his report to the Legislature, in 1873, mads the following remarks : — " Some of the Companies were the offspring of nere " greedy speculation, suddenly conceived and unwisely under- " taken. Recalling only three years in the last half of the " decatle, it will be seen that twenty-one Life Assurance " Companies, transacting business in this State, have, within mmm •• that time, diwppeared from the field—one struggled throngh " Boven yean ; two, «x; two, five; six, four; Mven, three; ** two, two years ; and one, only six months." The Chicago Herald of September, 1876, published a list of oightoen Companies that had absorbed seventy-five others, these Companies alone aggregated 413,980 poUcios, covering risks amounting to $1,001,436,008, and a reserve of $198,300,880. In January, 1877, there was published as a fact, that indictments for perjury were obtained against the President, Secretary, and Actuary of the Security Life Insurance Com- pany, and for embezzlement against its Vice-President; " Albany, April, 1877. Superintendent Smith's report " on the American Popular Life Insurance Company, charges " that the assets sworn to, December 31st last, were $588,000, " while the actual assets are $285,000 ; the sworn liabilities " were $344,000, and the actual, $544,000. It is reported that " the officers of the Company will be criminally prosecuted." " The Superintendent of Insurance announces, that " having caused an examination of the Atlantic Mutual Life "Insurance Company, of Albany, N.Y., the examination " shows : Liabilities, $1,153,853 ; Assets, 1,043,467, showing a " deficiency, as regards policy-holders, amounting to $110,385, " The Superintendent will apply to the Attorney General to " close up the afiairs of the Company." " Assets, $1,385,733 ; liabilities, $4,863,586, such is the "receiver's report concerning the Eepublic life Insurance " Company of Chicago." (July. 1877.) (See Table of Companies that have ceased to do business, at end of this pamphlet.) Did space allow me, I could give irinumerable extracts from the reports of the GovGrnment Life Insurance Superin- tendent, that I have just read, which fully corroborates all the alarming features of this pamphlet ; by carefully studying the reports in question, both at the commencement and end (the latter bearing on investigations of Companies in difiiculty) the reader will readily endorse these remaxks. r '"' Taking up the Government Eeports, and by simply aggregating the work done by all the Companies named in said reports for the the years 1872, 3, 4, 5, 6 and 1877, (on a natural progressive system,) I find the result to be as follows : Say, outstanding on the 1st January, 1878, 633,096 policies, while there should be 832,904 policies, making 199,808 short. At risk, January, 1878, $1,556,105,323, while there should be $2,041,395,157, making $485,289,834 short The total receipts for the same six years were, $642,601,053, and dis- bursements of every kind were $474,879,004, showing a surplus of receipts of $167,722,049, while, at the same time, the gross assets were only increased by $93,862,391, making an apparent deficit of $73,859,658. (See Table B, for policies lapsed, &c.) The oldest Company on the list was incorporated A.D. 1835, and consequently is forty-three years old. Now, as the foregoing statements are undoubtedly of a most serious nature, (probably affecting the interests of not less than three hundred thousand families, as noted in Table B.) they may well cause the reader considerable amazement, showing such a large apparent deficit in six years. One will naturally contemplate what would be the result if the whole business done from the commencement of operations (or say for the forty-three years) were to be tabulated togethtr in like manner. This way of putting the matter, I believe, has not hitherto been attempted, and we may take it for granted, therefore, that people generally are content with seeing the statements published, showing that a large business had been done, and large profits made, never caring to look farther into the matter, or trying to ascertain what became of the surplus each year. • The bringing together in this manner of so many start- ling facts, (and the reader may possibly be able to couple them with many others that have undoubtedly escaped my notice,) there appears to me to be good grounds for desiring a thorough change for the better, and for reasons herein set forth ; the time seems most propitious to seriously consider the subject in all its bearings, and to look into what is here pro- 11 )y gimply named in 877, (on a as follows : 96 policies, 808 short should be The total 53, and dis- ahowing a same time, SI, making for policies orated A.D. Now, as the 'iou8 nature, ree hundred f well cause uch a large contemplate one from the -three years) This way of n attempted, pie generally showing that made, never to ascertain many start- le to couple escaped my for desiring a •ein set forth ; consider the t is here pro- posed OS the only reliable remedy possible, one, in fact, that will work out an everlasting benefit for the whole country, and worthy of implicit confidence. It is true, I have been told, that the Companies which have failed, or are being wound up, or dropped from the list, may account for the great discrepancies or shorts noticed. My answer has been and still is, let all consider the general effect of failures and the like, and as rational beings, (probably with some little experience also) they can hardly deny that such excuses are frivolous, because the fact still remains that under all such circumstances, the insured (say, numbering teveral hundred thousand families) have either actually lost their claims, or they are absolutely in great danger of doing BO, as it is an admitted fact that Life Insurance Companies which have come to grief have not, so far, when liquidated, given much, if any, satisfaction to those interested. It has almost become a by-word that Life Insurance Agents, Managers, and other Officers, commonly make them- selves immensely rich in a very short time, which is the result of their predetermination to make that their chief object, regardless of every other interest that may interfere therewith. As in the past, human nature has not been proof against a stretch of conscience, when surrounded by monetary tempta> tions ; so in the present, we find that some of the high in office are exposed to the public gaze as guilty of larceny, fraud, and even perjury ; and consequently we can hardly expect any perfect or clear record in the future under the present system. The failure of so many Companies in the past, and the disaS" trous exhibits made upon the investigations L iJ, are certainly not very encouraging as to what may yet take place, nor can anyone conjecture which Company will be the next to make shipwreck — seeing that there is precedent to doubt the accu- racy of the very statements sent to the Government under oath. However, if the principles that first called Life Insur- ance into existence were now sacredly observed, there would be no such thing as failure among the Companies ; but it ia quite apparent that by far the greater number have beea 10 organized as mere objects of peculation, and as a consequence have been worked most recklessly, (as explained in the edito- rial refeiTed to, and by the Insurance Commissioner of Massa- chusetts,) resulting in disaster, and shaken the confidence of the entire public in this business as now carried on. It is commonly said that " history repeats itself," and believing in that assertion, we see an absolute necessity of at once adopting the remedy herein proposed. It is hardly necessary to expatiate on all the weak and illusory points of Incorporated Companies, as at present estab* lished — such as their subscribed capital and the small per* centage paid thereon — the notes given to represent the so- called paid-up capital — the manner of investing the surplus earnings in stocks, bonds, mortgages and the like — many of which are transferable and payable to bearer, besides being liable to very heavy shrinkage in various ways — the sur- rounding temptations of having such large sums of money constantly coming in, and of assisting one another therewith ; the almost utter impossibility of verifying the complex pub- lished statements, which embrace as many peculiarities &a there are Companies — each Company professing to offer something of peculiar advantage and differing from all others, and for the Companies themselves to realize the fact that this money belongs to the insured and not to those who handle it, (as has been held by the Supreme Court of Massachusetts, reported in the Boston Transcript, November 13th, 1876.) All these facts, when maturely considered, give sufficient rea- son for pronouncing a verdict in favour of some scheme that will give universal confidence for all time to come. This desideratum can only be attained by the Federal Government assuming the business of insuring the lives of its own people, (WHICH IS MY scheme) as herein proposed. Patriotism and philanthropy should induce legislators to take up this subject with all their might and main, iu the interest of the whole country ; and iu view of the magnitude of BO grand a subject as that of legislating for the benefit of the widows and orphans throughout the whole Bopublic for 11 all time, one and all should rise far above party politics and personal interests on such an occasion. The Federal Govern- ment is undoubtedly, under all the circumstances related, the proper authority and custodian of such large interests of its own people, as the latter have greater confidence in its sta- bility and integrity to deal with such a sacred trust of honour than in any or all other institutions put together, because their interests, being already very large, are continually in- creaaing, by its taking the business of Life Insurance under its own management, a very great saving can be effected in tho largo dividends no longer required for so many Managers, Directors and Stockholders. When thoroughly established, there might still be farther economy effected by operating through the agency of Post-Masters who are now under its control. This saving, together with the surplus income, toill be »uffi,cient to wipe out the entire National debt without any exterior aid whatever, and as a consequence will materially reduce the burthens of the entire community. (My calcula- tions and tables are all most carefully made to prove these assertions when necessary.) Such advantages cannot fail to favourably impress the public at once, and will probably infuse such confidence in this new scheme as will induce millions of people who now stand aloof to avail themselves of such undoubted security, and make an immediate sacred provision for uheir families against want whenever they may be removed from them by death, knowing that such an investment with the Federal Government is beyond cavil, and even preferable to those of banks. The adoption of this plan would also in effect cement the attachment between the Government and the people stronger than ever, their mutual interests thus becoming pecuniarily identical. This business is peculiarly different from all others* because from its very nature it assumes the character of per- petuity, eontinvMlly offering the means of making provision for the support of the widows and orphans for all generations (present ^and future) throughout the whole country, and as u : the people are continually changing from State to State, it becomes both evident, desirable and proper, that the proposed plan should be adopted or assumed by the Federal Govern- ment, as its operating it would be most acceptable to all con- cerned. Because of its universal sway, it would establish but one general system, thus reaching all on precisely the same terms ; this, probably, would not be the case if each separate State were to try the work in their own peculiar way. As it is proposed that the surplus income and savings will be used only to pay off the National Debt, the fund can only be treated as Internal Beventie ; and as this debt is due, not by any particular State or Territory, but by the whole Rountry, there can be no doubt as to the equity of taking up the work in the manner stated, and applying the fund as above. In this way, all the difficulties will be removed that would other\vi3e be cropping up, were each State to attempt the work ; because in the latter case there might be as much rivalry as there is at present between the various Companies, also a want of uniformity would most likely arise. And again, the necessity for each State to have, in addition to their Head Office Staff, Officers in every other State, would so unneces- sarily increase the expenses as to cause (mth their other troubles) such embarrassment as would possibly lead to repu- diation, in the same manner as some States have hitherto done in regard to liabilities of a different nature. VTiile, on the other hand, the General Government has not, so far, been, and I trust never will be, reduced to such a condition ; and, besides all this, the Federal Government, being composed of Representatives from every State in the Union, aU will be equitably represented there in the pp ----r of such a law. If the business is assumed by the Government, it can give to the insured many advantages that existing Companies cannot, from the fact that its operations would extend over the whole country, having but one general Head Office and but one organization. Expensive competitioa would be prac- tically annihilated — a simple, universal and comprehensive system adopted — • (the illusory and perplexing schemes of the IS )tate, it )ropo8ed iGovem- all con- istablisb |aely the if each present oiganizationa eliminated) — and a non-forfeitable policy given on a new basis (which I am prepared to propose) on the broadest principles of equity, .With all these advan- tages, I am convinced that the law can be so carefully and perfectly framed as to be as lasting as the Constitution itselE There is no reason why existing Companies should not be allowed to continue to do business as best they can, pro- vided always that they are compeUod to secure the insured in an unmistakable manner, and, whenever policy-holders demand it, let the Companies be required to re-insure in the Government ofiRces. This caunot surely be considered a hsirdship, as nearly all of them toast of having a large surplus over the required sum for that purpose. Again, let the Federal Government at once place within the reach of every individual such facilities and inducements as will lead all to make provision for their present and prospective offspring. Even should the two systems continue, the people would thus have a frte choice as to where they would place their in- vestment and their confidence, which, with other manifest ad- vantages, would cause the nation to rise as one man and bless these legislators for granting them so great a boon. My memory has just been refreshed on a most impoi-tant pojnt of rascality. (I am sorry to be obliged to use the word, but the transactions justify me in doing so) which has been practiced on the helpless widows and orphans by unscrupulous agents, which I trust has been done without the knowledge or sanction of the Head Office. The facts are these : — A writer eent to a local paper a communication whi«h was published, containing the names of parties who had been victimized and told that their policies were valueless because of mis-state- ments in the application, yet, as the Company sympathised with the widow under her sad bereav^ent, it would give her a certain small sum for a discharge of the policy, otherwise the Company would contest the claim. (A law suit, under the circumstances, a widow is hardly prepared for, being without the necessary funds and possibly without intelligent advice, and considers the small pittance offered better than r^ 'H 14 the interminable vexations, uncertainties and costs she may be put to.) She accepts the conditions, in order to get a few dollars that may at the time enable her to pay off money borrowed for the burial of her late husband, or the doctor's bill, or even some other of the i^nnumerable debts incurred during sickness, and being without any direct prospect of being able to liquidate such liabilities in any other way. I am told *hat this practice is of frequent occurrence, otherwise I would have hardly mentioned it here. Under the proposed change, such practices cannot take place under any circum- stance. CLOsma OBSEBVATioNa A few points may here be briefly stated, in order to be remembered, which are of great importance. Confidence has undoubtedly been considerably shaken in the present system, by reason of the serious exposures already made as to mismanagement, shrinkage of assets in various waj'^s, and the uncertainties of the future failures. Doubts exist as to the continuance in office of trust- worthy and honourable Directors and Managers, because all are subject to the caprice of ii .crested combinations, aiming to promote their own interests at all hazards. Working of Companies, as matter of speculation, is unsatisfactory ; their pecuniary interests are shown by evad- ing, in every conceivable manner, the payments due to the widows and orphans when they are practically helpless. The earnings of Companies are looked upon by them as their own nominally — holding a reserve from which to pay claims, when they are forced to do so — dividing and appropriating all else as they please. Funds, under th» present system, are held either by Trustees or Board of Directors (also continually subject to change, as already explained.) They nominally hold by far too much of the people's money — and this, very frequently, in a most precarious manner ; at any rate, it is so viewed by the insured, who have to depend entirely on the conduct of IS those officers — the latter being irresponsible to them — for the investments that are considered by policy-holders as their chief security, and over which and whom they have no voice whatever. Advantages Pkoposed and secured by the Government Plan, are implicit confidence in the integrity and ability of the Federal Government to discharge its every obligation. An universal and unalterable law and system, placing the facili- ties and advantages on an equitable basis, within the reach of the poor as well as the middle and upper classes of the entire nation — the positive security offered that every pouoy SHALL BE PAID ITS FULL VALUE — and the application of the surplus earnings and savings, not in dividends to numerous stockholders, directors, and the like, but for the good of the whole country, in wiping out the debt of the nation, which is constructively equal to reducing the individual liabilities and burdens of every person. It will also relieve the mind of those most interested from endless anxieties as to the actual money that will be handed over to the widows and orphans of the insured. In such case, there will be no need of beinor troubled as to the integrity of this or that person, or the value of this or that investment, or the truthfulness of this or that report, statement, or scheme, as all will be most efficiently managed and secured by the Great Government of th« nation. So that all may rest in peace and happiness — and many a poor and otherwise doubting heart, on a bed of sickness, rejoice in the assurance that the timely provision maile will be sacredly carried out to the letter. Finally, let the reader not lose sight of the fact that all profits are applied by the new plan in the interest of all, instead of in the interests of interested individuals, as at piesent, and giving a/ree d'uyice to all where to insure. I 16 A Condenged Statement of ttanwwtloni of agpeKatMl Ufa InBurMce CompanleB of thin State, and of other Bt»te§ trantactlng btnincss in thin Steto, compiled from Kiw Yobk Rtatb Qovibbmiht Rbpobm. ir.B.—Thii does not ineludt any ^^ The Government doing the same work for 6 approximaU ytart on the proposed plan, would compare thus t — . „ * V tr V «- Companies. Government. Income, e years $642,601,083 $671,697,732 Pay to Insured {380,633,631 838,180,000 AgenU and Expenses 94,?46,373 33,7 19,493 Not surplus income $107,722,049 $299,798,239 Item, Agents' Expenses favours new plan by 60,625,800 t In this sum is inoladed what the Companies paid for repurchase, lapsed, and snrreJdewdPoUdes, while in the oase of the Ooveinment, the whole amount U paid to die jjasarsd without discount. j^i>iifauatAu.ajuii » .. .- m Inkuraaw )aainei8 in BPOSTt. diet that do 302,668,109 ? ^6,420,690 193,862,301 643,601,053 474,879,004 167,722,049 93,862,301 ^^73,HS9,668 At Bisk. ,119,029,80s ,077,634,848 !,041,396,167 [,656,106,323 1485,289,834 . $380,633,631 ,. 94,245,373 At Risk. $144,5S5,ti« 921,378,f'!0 60a,7b7^ ftari on tho 3oTernment. 1671,697,732 338,180,000 33,719,493 1299,798,289 60,625,800 i«, lapced, and kmount U paid IH > O r- cq ^ 3 I M «0 OO « CO "* ^ ^ 00^ lO^ CO t-- t- flO ,9 lO m I- to o> _ ■- S »-i» ii mm* r- O -* CO O »f" So yl I CO o ei •n »o CO CO O'l CO e>i_'!f,o», •fTTH loeo CO r-i 22 ?-< «-• ,-« © C> rH CO CD 00 rt CO C-^O.M ss; (M '* (N . . I- CO o rH «0 t- O M ©1 r- to ^00 CO CO »fteo"'f M «0 •-• ^ 'Q CO irt M oi -t t- co_ ■«*< ec t-' «d' o CD eft t '-'Kk t: in o> r-< M o r-« t- -I*! 'Jf IM .1? CD. CO w «o t— O '^ CO «D I- CI CO IN in O CO CD 'D_ Oi_ in o CO irt C5 o •»ji (M CO iri r-1 CO i-<_o^io_oo_ i-ti-_ «3 »-<' lo ■^ in N N »-H f-* <» •na t»a ) •»!• O "-J CO in CO ;^ilSi O rH CJ r- W 00 i-i in o t- CO OJ CO_^CD N I ^ to «n coco" t- ■•tCO CD ,-( CD (M t- e-1 00 T-t OS ffl CO I~" 0( OC 'ti S COO CD I s; U CD CD rH 01 0> t- O CO CO 05 in o.Tj< in_^ co" o'cd'oj"co" o CO ^ OJ»-CO © cooc © © CO 'CD :iM ■ go" ' cd" I I 35 pifl .id - -I J g s.« ffl " ff-o <« n S (3 UcqOQ 2 .a hi I o o a o a o « o . 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L- M^— ■«*' <-< 0i_O^<0 C 01 o o> C-; w 00 oT-w e o CO CO Voo *-* (>1 00 e-<'0'*-''oco«roo2^!S2 'oco"« (-"eo (a m" « od~in --"50 iJ c;^ £ !:; 2 CO •* ^oiT in <~i C0_«)_ co~-r ■* o CO <-^ flo"^" CO in 00 e (O"^^ * JJ ^ 2 ' o «M CO §oowSow*-o-oocoirt»nMi--o O ^g .-r.._r-r_r-r»id^<^-rert' rTi^ToD o «3 •-;_«« W O Jt— c>_c«_eo c-icoinooe in CO CO 0» -1 in ■wm in o e o 000 otr' OJ ca o ci 00 O^CO^"-^ ifTcro ll IM 00 ^ cy> ^ o o -^ o in CO 00 o OJ. ■oTeo" — ' c* 00 c» t-io-*coM'-ioinooeocot- S?-?iotoinoo-*cocneM(oeooco^ <3ci"--~fif n '-.'-1,<=."* ■o"co"'M''i-"c«rcrin"c-f oo~in ;£oo "5 ^ o *:t Jg coco^-*«22I:;S222«nnS« CO ce -i o (3> •* -H~00 in •-« co^in ■* m § m & o <» « 00 O 00 O IC CO • c* • I 00 a> 1 O '-I ■n_oo__ cs".-^ m ccocoo3ia-4c4 ■ii.iinScopJi-i'O'-'co co_^« o^oooj c-i^'^iCJ. f ^-"co"c»"«"^-"o"« CO « c^T'-fco'in ^ r: ::; 1! c ^- CO o> 00 J So;S?ia;US5oiiiocc«i~eoo>;*o«> SSS-^SScot-t-oocji C5.o_ci_— .—_ «NeociJco«««CT»9P'' > O •-• M CO ■* 10 a o ■MMMMMlHMMlbll MM^itAiHI ss^ 24 Xife Insmaactt Compaaies- which havv -ceMed daiog buaioMs, from 1859 to 1st April, 1878. Kamt of Oompmv- 0«*»i *» BriV' 1. A««io.n Tontine -L. 4 St. I. Co- \ ^^\ =«^ Mutual (No. MJ N. J 6. Atlantic Mutual li. I. Oo. Notified diicontinue. Ed. Newcomb>BM. 6. Ametioan Mutual L. I. Co. Certificate of authority revoked ■ 7. Anchor li. I. Co ...... .^... ....... do. do. do. 8. Amerioan National L. ft Trust I. Co. do. do. do. 9. Alliance Mutual li. A. S. of the U.S. do. do- not renewed. 10. Ben. Franklin L. I. Oo Reins, in United States h. I. Co. II Craftsmen's L. A. Co Reins. JHopeMnt'l (No. 26.) F.W.Worth, Re* 12. Commonwealth li. I. Co.. ...Reins.inN.JMutI (No.3;».) T.S. Moore,Iteo. 15. OontineDtal U I Co Closedbysuit. John P. O'Neill, Reo. 14. QhartarOak L.I. Co < Certlfloateoi authority revoked. 16. Continental L. I. Co Withdrew from rit«te. 16. Empire Mutual L. L Co Reins. Continental (No. 13) L. I. Co. 17. Empire State L. L Co do. L. A. of America (No. 30.) 18. Excelsior L. I. Co do. National L. I. Go. of U. S. 19. Bdeotie L. I. Co Clowid suit Stookholdert. P. T. Rumles, Reo. ^ -a ! I u . I T r n.^ 5 Certificate revoked. Reins. Republic L. I. 20. Economical Mutual L. I. Co j Co. of Chicago. 21- Farmers' & Hechanios' L. I. Co... . -.Closed suit Atty.-Oen. J. H. Coleman. Reo. «» « ..rir L u 1 I T T n. 1 Closod suit Atty.-Qen- Uon. F. M. Bizhyi 22. Great Westam Mutual L. I. Co. ... | rjo. Sinco discharged. .„ - ., w > I T T n.^ i Closed suit Atty.-Gen. Hon. H- R. PiersMit 23. Guardian Mutual L. L Co j ^j^, ^ ^^ 24. Government Security L. I. Co. Reins. North America L. I. Co. (No. 36.) 25. Howard L. I. Co. Reins. U.S. L.I.Co. Surrendered '61. 26. Hope Mutual L. I. Co Reins. New Jersey Mutual L. I. Co. (No. 89.) 27. Hercules Mutual L. A. 8. of U. 8 Closed by Atty.-Uen. J. H. Kitchen, Re«. «, »T 1, T T r._ / »ni—.i.-j\> Withdrew from Stite. Reins. Republic (No. 28. Hahnemann L. I. Co. (of Cleveland) J ^n |;, j, qo_ ^f Chicago. ^ -r . i. 1 T T «. m > n^ J Withdrew trora State. Reins. United States 29. Int»mational L. L A Trust Co.. ... J l. i. Co. of N. Y . 80. L.A.of America(St.LouU) ..CerUtioate revoked. j, „ » , ., ^ . IT, » .• T A a^rrta ( Changed name. Reins, in Guardian Mutnu. 81. Mutual Protection L. A. 8. of U.8.,) c|o,ed Atty.-Sen. (No. 23) Hon. H. B. or Reserve Mutual L. L Co ( Piersoo. Ree. 82. Merchants' L, I Co^ ReiM- by •«• !<• Alexander BsRee. 83 Missouri VaSoy L. t. Co •• Certioeate not renewed for lb77 . _ H. New York sSSL.r.oS. Closed suit Atty.-Qcn. H. R. Pta^n, Re«. », »T ., ,r T n ^m tr (Closed suit Stookholdflrs. KU Beard, Rec 36. National L. L Co. of a. Y. ( tineedf .charged. 36. North America L.L Co. Closed suit A tty.-Gen. H. R. Pierson, Bac 17. National L. I. Co. (of Chieafo) ..CerUfttale revoked. -» « . . ,, ... . I T Ai im.t^ » S Withdrew from State. Beiniuring fnta. 88. NationalCapitalL.I.Oo.(Chi«ago)| {jj^tual l5o. Pa. 89. New Jersey Mutual L. I. Co .Ce^c^e revved. . ,n^ b.~„* .«« .J m jjLTT/i» \ SubeUns.sJIy did no bnsiDess. (See Report 40. Provident Fund 4 L. L Co j lorl888.) 41. Piedmont &ArWn«tonL. I. C.(Rd.)..Wl^drew and oertifleato revoked. .. ,-_ 42. RepuUicL I. Co. (of Ohioago) Withdrew and eer^fioatenwwnewed for WfS. 43. Stand vd L. I. Co g«»M: Gov. Security L.I. Co. ( N o. «.) 44 SecurifrlTl 4 AnnaityCo Closed suit Atty.-Sen. W. H.Wiakham, Bee 46. Safety OepoaitL. I. Co. (Chicago). ..Withdrew iVomState Aa^^^ *^ T„ ^. . • w . IT T r.„ /a. T>.\ 5 tJertifioafc revoked. Rein*. Moimm City, ttow 46. 8t Lonis Mutual L. I Co. (St. L s) j gf_ l_ j, go. 47 Teatonia L. I. Co, (Chicago) Withdrew and oertifioatB revoked. 48. W-* Mutual L.LCo.(5;ole Closed Atty.-Geo. H. R. P>e»- M World Mutual L. I. (}o ......Cloea'd suit Atty.-Oen. 8. W. Roscndale, Reo. 00. wotw auTOM li. i. uo pentfhg deeUioa of Court about Rec. sscee 61. Universal L. I. Co { Ang.,1877, No new business dona. •AB«i¥iAtiOM.-L., Life. Reo.. Beoaivar- S- Soeielr., Sv., Savingi' I., lasuranoe. Oow, Oomptuir' 3(1., Aasooiation. ;. ^..^AtMi^^m&m . Jnfiii mimvm>mfmm» ! i vvts , ^ ny !* ' •^fPPpiWW*«p!«SW?"f"i I.U.-l-.:l.,i-.r'WF" .8. its- lee. ■gl. ..,-;.^f .' " ; •*••>« • * i I f \ Md