The San Francisco Call. Newspaper, February 10, 1904, Page 3

HE WEDNESDAY FEBRUARY 10. 1904 ADVERTISEMENTS. A PLEASANT SURPRISE MURDEROUS ASSAULT OX - In Store for Those Who Doubt. When you read that a sufferer of | many years' standing has been com- pietely restored to health by using | ith's Cure-all, you are inglined to doubt the statement and, in \‘xc‘. have no belief in it whatever. The reason this is that so much is claimed for | ] Cure-all it is ble for any | | eve it; if the advertiser con 2. | claims to the of one do the proprietors of Py curing Miss Eva Moak, a Normal School isease, | mid Pile Cure, readers would have| Graduate, Suffers From Gun- ———_r Thee i “a| shot Wound in Shoulder vk stimonials| and Arm in a Hay Mow be refied upon im- | . the cures brought| _ its use are Mitle short of| VICTIM OF THE ATTACK ineness of the tes- s vouched for and received and tell Cure has done sbled with piles | and used eve: The ger TELLS STRANGE STORY —_— Believe Woman »a you | Officers Is Man Who Made Threats 2 Short Time Ago Is Suspected sl raltas CHICO, Feb. 9.—Miss Eva Moak, a young woman 22 years of age, a grad- !uate of the Chico Normal! School, was seriously wounded to-day by being | twice shot by an wnknown person at I was | get not at- du Final f your Pyramid it is not up #o bad this down w st's and ised the la troubie and truly | Chico. One of the bullets grazed the |top of her head and another passed it as T know | through her left shoulder blade and the e again T|to Miss Moak, she had gone into a hay- I am cured | mow of the barn to feed a horse and ; friends, | while standing on the top of a bale s 1 was, \ of hay a gun seemed to go off at her e it too. I am |:€et. A moment later another shot was fired, the bullet wounding her in the sioulder. She then jumped from the hay into a shed part of the barn, and learned of your | econd street, = =8ld by drug- | shot was firad. While trying to open . ackage will be | the door a fourth shot grazed the top ess upon receipt of | of her head. She ran into the house g Co.. Marshail, | 2nd fainied immediately upon entering @ g i : | the Toom. for their book | T ere from Chico spent all the aft- dee o3 piles. | ernoon in investigation, with the re- 4 4 sult that they feel that the injured voung woman has not told all she knows of the affair. It is a fact that | about a year ago a voung man, who had become infatuated with her, made threats of sufficient gravity %o warrant the officers in suspecting him of doing S the shooting. money if vou don’t lik Miss Moak will probably recover, ’ don't like the | thouzh the wound in the shoulder may aking-powder spces be inore serious than a hasty examina- a 7 tion would indicate. malicrm e ML TS GLOVER FOUND GUILTY OF SIMPLE ASSAULT Schilling’s Best is money- back : grocers return your extraces known as Schilling’s Best. DOCTOR LEAVES MONEY FOR RELIGIOUS PURPOSES ! mer Congressman and Sentence | Is Deferred. late Dr. John I Baty of San Jose | CRIPPLE CREEK, Colo., Feb. 8.— Bequeaths Fund to Santa | John M. Glover, a former Missouri Clara Coll who has been on trial the District Court on a charge of Congressman The will of Dr. | i filed to-day ergeant Dittemore president o ational Guard with o e 1 {o kill on December lagg, $3000 | When resisting arrest by the militar; 3000 ;i is to-day found guilty of simple sault the jury. Sentence was de expressed dissatisfaction at and will probabiy seek a new tri to the higher courti. he criminal cases against Adju- General Sherman M. Bell, Brig- 1 John Chase and Major McClelland of the National their actions during military iard or ontrol in this county went over until Nevada Woman Commits Suicide. | o-morrow. y | il R RENO, Nev., Feb. 9.—Mrs. Fann 3 . Kelley, an old resident of this Owres Oolds in Mexico. y t suicide this mor: | SHORD S hanging. She tied a piece of rope to he rafters in a shed. put a slip knot her neck, threw herself forward Grants Pass Officer May Live. angled to death. She was 76 | GRANTS PASS, Or., Feb. 9.—John years of age | Patrick, Chief of Police of this city, g O who was stabbed twice in the abdomen Solano Lawyer Seriously 11l | vesterday by Ed Chiles, is still alive = 9.—George some hopes for his recovery are o best known a 1eys | entertained. Chiles is p ving the in- lies 2 « ] at his home here. He } fornia, sanity act and it is very likely that his been con- | defense will be made along this line. from iHr vas bound over to-day to await trial his bed for several irouble. Withholding Facts and Young | her home about five miles southeast of | t any time Il ypper part of the left arm. According | iile running toward the door another | Jury Decides Against Missouri's For- | NATIVES BREAK [STOPS LANDING |TURKS SEE | Members of the Constabulary 1 in a Luzon Town Loot Com- missary and Then Escape TWO PRIESTS FIRED ON R Fugitive Ringleaders Start an Uprising Against the Amer- | icans and Loyal Filipinos PRt bl BN =g MANILA, Feb. 9.—Seventeen mem- bers of the constabulary stationed at | Vigan, one of the leading business cen- | ters of Luzon, have deserted, taking | with them fifty rifies, 5000 rounds of and $700 obtained by department. | ammunition looting the commissary augmenited by a party of eighty escap- ing from the same quarter. Governor | Wright promptly requested military | assistance and Colonel Thomas imme- | diately dispatched a squadron of cav- alry scout® in pursuit. Colonel Scott leaves to-day with a body of constabu- !lary. | Later advices indicate tha volt of the constabular developed into.a smali up: the Americans and loyal Two Ameri prie: Father Mc- | Closky and Father Girk, have been fired on, but no casuaities are reported. The telegraph wires leading to the | disturbed district have been cut. | Ricarte, one of the former Filipino leaders, is believed to be at the head of this movement. the re- an has ng against Filipinos. NEGRO POLITICIAN IN ST. LOUIS IS KILLED “Jim"” Ray, a Sporting Character, Is Slain and His Partner. Wounded | in Gambling Quarrel. ST. LOUIS, Feb. 9.—"Jim"” Ray, one | of the best known figures in the local | sporting world, a leading negro poli- ;ln' n, reputed to have been the | wealthiest negro in St. Louis, was shot a pistol battle, in which shots were fired as the result of a gambling quarrel. His partner, John Arthur, is dyving from wounds re- ceived in the fight. Ed Grimes, 28 l_\»ux-: old, proprietor of the saloon, is | under arrest. N e SNOW BURIES RANCH and killed in | thirty | | AND KILLS ITS OWNER Slide More Than Half a Mile in | Width Causes Devastation in 1 Wyoming. | JACKSONS HOLE, Wyo., Feb. | Tom Estes and M. V. Giltner have ar- | rived from the north and report that {a snowslide occurred on this side of | the mountain pass a few days ago, which buried the ranch of Gus Koener and cattle in large eved Koener per- |and killed sheep | numbers. It is be shed, but nothing can be done until pring to recover the hody, as the ranch under 300 feet of snow and rock. slide was over half a mile in | wiath. e M BN | Dentist Mysteriously Disappears. | RENO, Feb. 9.—Dr. Leonard | Ede. a prominent young dentist of this { city. formerly of San Francisco and a | graduate of the California Dental Col- |lege. mysteriously disappeared last | Wednesday evening and nothing has | been heard of him since. Officers are |1ed to believe that foul play has been -ommitted. G AN Aged Counle Burn to Death. CHICAGO, Feb. 9.—Lying side by side in bed, 68-year-old David Heinch- | Tiff and his wife were found to-day, burned to death. The fire was caused by the explosion of a lamp. e | fobbers Wreck and Loot a Bank. RAVIA, I. T., Feb. 9.—Robbers blew oven the safe of the Bank of Commerce here and took $1700 in money. The interior of the building was demolished. tempt to carry the case | Nev.. The number of fugitives has since been | INTO REVOLT OF AMMUNITION Gunboat Fires on Lighters That Attempt to Convey Sup- plies From Steamer toJiminez —e SHORE GUNS RETURN FIRE R T Attacking Ship Is Crippled and Steams Away in the Wake of the Merchantman MONTE CHRISTI, Republic of Santo Domingo, Saturday, Feb. 6.—The Clyde Line steamer New York, from New York January 30, arrived here this morning, followed by the Dominican gunboat Presidente. Lighters were sent alongside the New Yerk to bring ashore some ammunition which formed part of her cargo. When the lighters had near- |1y reached the steamer the gunboat | fired on them and the revolutionists on shore replied with cannon and Mausers. The New York, being in danger, there- | upon left Monte Christi for Puerto | Plata. The firing continued for half an hour.- after which the gunboat sailed for Puerto Plata. She was hit twice by i rcunds and apparently by hundreds of | bullets, for she stopped and lowered | boats, evidently to piug up the holes ! made in her hull. The failure to land the amniunition is a serious blow to General Jiminez, for whom it was in- tended, and may cause him to lose the ground he had already gained. An at- tack on Santiago de los Cabalieros has | been fixed for Saturday. The.German day. The revolutionists did not per- mit her to discharge cargo at this port. —_—————— JUNIOR DEBATING CLASS i ACRED DRAMA St. Ignatius College Students Will Ren- der Bibical Production of “Sede- cias, Last King of Juda.” “Sedecias, the Last King of Juda,” a sacred drama, will be given by the junior debating class of St. Ignatius College this evening. Great prep- arations for the production have been made and the play promises to be a grand success. « A full dress rehearsal was held last night and the various members of the The following is King of Juda, Josias, his eldest William 1. Lonergar Eliakim and Rablath, vounger sons of Sedecias; Edwin J O'Hara and Peter O'Keeffe: asses, council- lor_of Sedecias, m E. McCani Nebuchodonosor, g of Babylon, Victor V. White: Elmero, his son, Ed- ward I. Whelan; Jeremias, prophet, Thomas I MecCormick: Rapoasis and Araxes (leade Chaldean army)..Leo J. Flan an and James R. Kelly: Chaldean officer, Ran- O'Keeffe: Wilk dall J. Crowley:- attendants, sages, pages. soldiers. The officers and members of the class are: Joseph H. Riordan, S. J., president; Rand J. Crowley., vice president: David A. O'Keeffe, record- ing secretary: Edward,d. Whelan, cor- | responding seeretary; Victor V. White, treasurer: Adrian I. McCormick, cen- sor: William I. Lonergan, librarian; Joseph D. Bra Cornelius J. McCoy, James R. Kelly, Ralph E. Myers, Leo J. Flanagan, arles C. Randall, Rich- ard A. Flanagan, Edmund A. Ro: William E. McCann, Robert D. Rossi, Thomas I. McCormick, Albert L. Whi! | tle. ——————— Charged With Forgery. M. Braddish, alias M. Green, was ar- rested yesterday by Detective Egan and booked at the City Prison on a charge of forgery. It is alleged that Braddish, while employed about a vear ago as a deck hand on a steamer he- { | | tion Company, raised a time check for two days to eleven days and drew the money for the eleven days. ADVERTISEMENTS. $ > sl e of pro lo Suit s to order $ up to 355 Any man, whether young or old. working on a salary, should exercise care in buying his clothes. should dress neatly, but at the same time avoid paying fancy prices. He To be well dressed is, after all, as much a matter judgment as of money. It merely involves good judgment in selecting a reliable value at a price con- sistent with the quality. Our made-to-order clothing is reliable and is sold at the very lowest prices that the quality of the goods and a safe business policy warrant. Our trousers have the proper hang; they break neatl perly in the back. through and through. over the shoes, drop gracefully from the thigh and fit comfortably around the waist. The vest buttons correctly and retains its shape. The coat sets well around the shoulders and under the arms and drapes In fact, ‘they are good clothes steamer Altenburg was here on Mon- | the | of the! jonging to the California Transporta- | If a suit is not satisfactory to the customer we will make an alteration—make new garments or give money back. This is full protection. All garments made by us will be repaired, sponged and" pressed free of charge. We make suits and overcoats to order from $10 to $35. Why not come in to-day and look over our assortment of patterns? Surts satisiactorily made to order for out-of-town customers— write for selt-measuring blank and samples. SN'WOOD: 740 Market St. and Cor. Powell and Eddy CHANCE FOR A TRIUMPH Sultan and His Ministers Seeretly Rejoice Over a Possi- | ble Opportunity for Rehabil- | itation of Rule in Macedonia |ATTACK TO BE MADE ON THE BULGARIANS | i Struggle in the Orient Ex- | 'pected to Divert Attention ! of the Powers and Open | . | the Way for an Invasion A SRR i Special Dizpatch to The Call. i | SCONSTANTINOPLE, Feb. 9.—Grati- | fication, profound but more or less carefully concealed, prevails in the pal- ace and among members of the Gov- |ernment at the alarming turn of af- | fairs in Eastern Asia. The Turks think ! they have everything to gain and noth- | ing to lose by the war. They hope that ‘1 the serious struggie possibly involving the great powers would pave the way; fcr the Turkish campaign against Bul- © garia and the rehabilitatiow of Turkish | rule in Macedonia. The Sultan and his advisers hate the nations which have so humiliated the | pride and weakened the authority of the Ottoman empire in Europe and are looking for a chance to retrieve their | position and incidentally to chastise Bulgaria. SOFIA, Feb. 9.—In high official quar- ters it is believed that Turkey is has- tening preparations to attack Bulgaria the mcment the international situation seems favorable. No doubt is enter- tained that the Turks-will strike when | Russia is well involved in the Far East | war. The opinion is known to prevail in Constantinople that the Russo-Japan- | | ese conflict would so preoccupy Eu- irope that no considerable oppesition iwnuld arise to a reassertion of Turk- ish power in Macedonia and even be- | yond its borders in the direction of 1 Sofia and Belgrade. Meanwhile.insur- | | gents are resuming hostilities in Mace- | donia and planning a general campaign | when the weather moderates. Their | . leaders declare that the Macedonian { misery aiready is indescribable and | they comceive no developments they | need fear. e EHU’I’I‘TL PORTER MAULS BELLIGERENT COLLECTOR | | Fighting Results From Attempt to Force Occidental Guest to Pay a Night's Bar Bill. C. G. Spencer; a voung Hawaiian, | who recntly registered at the O dental Hotel and has since been cut- ting a wide swath along the line, was the cause of a |ively scene in the lobby of the above mentioned hostelry yes- |terday afternoon. During the night previous, so the stery goes, he visited |a saloon on Grant avenue and when { he was prepared to leave after several jhours of drinking the® proprietor re- | | minded him that he owed $86 50 for | | liquor. i Being without the necessary c#sh | and having enjoyed credit in the place | | before, Spencer was permitted to de- | | part without making a settlement. Yesterday afternoon. however, the | saloon proprietor sent a tough looking fellow, apparently a prizefighter, to { the Occidental Hotel to interview the | young Hawaiian regarding his bar bill. | The collector persisted in { Spencer. who complained to the man- {agement of the hotel and a porter was ! delegated to subdue the belligerent saloon representative. The latter was ejected from the hotel | iand when he reached the sidewalk he | i challenged the porter to combat, | which immediately ensued, resulting, | however, in a quick victory for the! iporter, who rapped his antagonist | several times on the head and face and finally put him hors de combat {just as a policeman arrived on the | |scene and placed the collector under | arrest for disturbing the peace of | | Spencer and the rest of the guests of | the Occidental. While the row was in progress Spen- cer, who had concluded that it was' “nelting to warm for him around the | hotel, hurrled up to his room, and, gathering together his belongings, | moved to more secluded quarters lnI another portion of the city. — e i EDUCATOR GIVEN WARM WELCOME IN THE CITY 1 Al George B. Hodge in Lecture Pays u} High Compliment to San Franeisco. ! George B. Hodge, special instruct':r; | of the Young Men's Christian Associa- | | tions of America, received a hearty | Welcome yesterday in the city and last night gave a lecture at the San Fran- | jcisco Y. M. C. A. { Mr. Hodge showed steropticon views | of the work at the numerous associa- | tion buildings of this country, and told | of the educational departments and| | mentioned that 115 universities and col- | leges accept from the association cer- | | tificates’ of internatjonal examinations | for entrance. He said that the extra tuition fees have increased from $2000 to $34.000 in | | ten years and when he mentioned that | San Francisco stands second in amount of tuition fees the announcepient was received with a burst of applause. Mr. Hodge will start East this, yiown- ing and will make a short stay at Sac- ramento. —————— Race Track Men Want Release. Arguments on an application for a| writ of habeas cornus for the release of David Cox, alias Meyer; George W. Williams, alias Watson, and Benjamin Pincus. held to answer on Monday by Police Judge Fritz on a charge of grand larceny, were heard by Judge Cook yes- terday. The Judge said he was of the opinion that the evidence was insuf- ficient to hold the defendants, but he would go through it carefully and give his decision on Saturday. Meantime the defendants could be released on $2000. bonds each. They are accused of ob- taining from Paul Van Loon of the Hotel Franklin $2850 by telling him that they had inside information regarding the races. e i e o To Tell of Late Consul's Work. Mrs. Colonel Higgins, the national secretary for the Salvation Army res- cue work, and whose labors are par ticularly connected with “slum‘settle- ments” throughout the United States, will deliver a leoture to-night in Lyric Hall, Eddy street, on the life and work of the late consul, Mrs. Booth-Tucker. The lecfure will be jllustrated with a number of stereop- ticon views and moving pictures. annoying | § ADVERTISEMENTS. FIFTY-EIGHTH ANNUAL REPORT ———0F THE Connecficut Mutuwal Life [nsurance Company. To tha Members: From the point of view of life insur- ance companies as investors the most striking incidents of the year 1903 were the great shrinkages in the nominal val- ues or prices of the stocks of the railway systems, with a corresponding though much slighter shrinkage in the prices of their mortgage securities. 4 ; In only one point was the Connecticut Mutual affected by these events in com_ mon_with all_investors in securities of the highest class. The present market value of its corporate and municipal se- curities shrank during the year about | $770,000 on a par of $25.586,570, costing $25.906.461. with a present market value of $26,330.694. Of this $99,460.25 is in bank stocks; $729,616 in railroad stocks ($250.000 of which is held as collateral), which have changed little: the $25.0 384 of bonds are of the best class for se- curity, and having as a rule many vears to run. more favorable market conditions are likely to restore more or less of for- mer higher prices: by meantime the ap- parent gross assets ahd surplus are just so much less than if prices had been | maintained throughout the year. GENERAL RESULTS. The Company's experience: for the vear 1903 in the several other features incident to its business may be briefly stated as follows: An increase in its premium income; an increase in interest income; an increase in net assets; the usual persistence in its policies: an in- crease in the business in force:-the same low rate of expense as in 1902; a mor- tality loss very considerably-less than that expected. with a saving thereby of $482,510; a decrease in the holding of foreclosed real estate of $773,920.91. The details of the year's operations will be found in our financial statement. That we have been able to maintain our traditional low rate of expense and yet keep good the amount of business in force is due to the faithful zeal of our agents for the true ideal of a mutual life insurance company; the best service for their clients at least expense to them; and this in face of the high commissions and bonuses paid to agents and rebates given to insurers by other companies. very diflicult to withstand by the one or | to overcome in the other. The death rate inevitably varies some- what 1 year to vear, and that fc 1903, W very favorable. wgs some- what less so than ih 1902. The care with which our risks are selected and the healthful character of the Iimited terri- tory in which we operate have given us a very favorable experience throughout our history and are the reasonable assur- ance of its continuance. INVESTMENTS. The additions and improvements upon the Home Office properties have ubstantially completed. We have a building which for durability, conven- ience and attractiveness as a business | strueture is nowhere surpassed and is proving a good investment at its cost. Ever since the panic of 1893, and due in some part also to the flood of stocks and bonds of corporate enterprises of all sorts of quality since offered to the pub- lic on more or less attractive represen- tations, the market for real estate has remained in the quiet state into which it then fell. During the last year. how- we sold properties that cost us ; 54 of these Sold at some profit; he net loss on these that incurred on three pieces which came | to us from some loans made many years ago .upon properties the conditions of which changed unfavoraply afterward. In this connection it will be of interest to state that during the vear the Insur- | ance Commissioner of Connecticut has made the examination of this company required of him by law every four vears, in the course of which he valued the foreclosed real estate remaining after | deducting the sales of that on which the loss was made as above noted at $349.- 742.39 less than its cost. As his valua- tion is but an estimate and we have sold several pieces since at considerably more than his estimate, and as our | whole experience in these matters has shown that such valuations have been no guide to the outcome. we have made no change on our books further than to take up as a possible future loss the item of 24 39 as a liability under the head ngent real estate depreciation account,” thus giving practical present effect to a loss which may or may not be incutred. : We shall pursue the same course with our prescnt real estate which has given us good results in the past: hold until loca sales at prices. The only bonds on which default are those of the Cf conditions favor fair e . terest is in of Galved- | ton, payment having been suspended in consequence of the flood of 1900. The city's liability is unquestioned. REDUCTION OF DIVIDENDS. One of the principal events for us in the past vear has been the decision of vour Directors that in consequence of the conditions which have been progres- sively developing for the past ten years and more it was no longer expedient to draw so heavily on past accumulations of surplus in order to maintain the high scale of dividends which has obtained since 1881, and that it was expedient to reduce dividends to conform more nearly at least to the present ability to earn surplus. Since 1898 we have used current accumulations and have also drawn upon the then surplus to a very large amount in order to postpone as long as might be any reduction in dividends. The princi- pal cause of our inability to earn as much surplus as during the years from 1881 to 1898 has been the slow but steady decrease in the rate of interest realized on investments. which would have caused a much earlier reduction of dividends, as was the case with other companies, but for the economies prac- ticed in the management. The ecircumstances of this reduction, which has been foreshadowed in our re- ports for several years, are set forth in | full detail in'a communication addressed to our policy-holders which is being | placed in their hands for their full infor- mation. It is. therefore. not repeated here except to say: “While we have always striven. and always shall strive, by every legitimate means. 10 make the current cost as small as possible, we must never lose sight of the fact that insurance which is not se- cure is rot worth paying for:.and that. | while we strive to make it cost as little as may be. we must be certain to make it cbst. enough to keep it indubitably se- cure against all forcseen contingencies incident to a business and to the invest- ment of funds during long periods of time.” . . . . . . . “It is proper, under the circumstances, to répeat: the Company’'s business con- tinues to he conducted upon the same le- gitithate lines and by the same stand- ards which have made its long history as a mutual life insurance company a record unequaled in beneficial resuits to 1ts memhers and beneficiaries. The same conservatism. prudence and unequaled economy are maintained; and jts condi- tion warrants the assertion that it will be able to Wtilize to the full all future conditions favorable to the earning of surplus; while in_the distribution of it vour Directors will have always in view the two-fold purpose: to make the an- nual payments of policy-holders as small as possible, and. in any event. to care- fully and certainly maintain that strength which has always begn one of its aistinctive features.”™ EFFECT OF INTEREST. ¥ Tn this connection it may be well to call attention to the fact that any change in the average rate of interest takes effect much more slowly in a life insurance company than in a bank. latter. having to be p for the contingency of sudden and great de- ‘mands from its depositors, k its as- sets in short-time paper. which being frequently changed at current rates speedily reflects their changes. The life insurance company—if mana; _on sound lines—is sul to no such con- tingency. and is able to secure the best results by long-time investments; so 1y and can, rencct only the Seneral slowly and can tendency of rates over long o effect of the downward tendency, which - been | we foresaw in 1382, has come but slowly to its present development; and it finds us prepared with a reserve some $3,000.- 000 greater than it would have been had we continued to take new business on the old basis, as others did. The present surplus by our own high- er standard of solvency is $4.629,812.55, after allowing the contingent deprecia- tion item of $349.742 already mentioned. By the usual 4 per cent standard of solvency it is about $3,000.000 greater, or say $7,500,000. CONDENSED HISTORY. It is a satisfaction again to call your attention/to yearly growing exhibit of the unique total results of the Compa- ny’'s operations for fifty-eight years: 10 S40pLOY-£0f 2094 SUIDJWALD D13 COGT—9F81 o1 bN'H11'L5T8 ST OV'GVE TaE8 7.347.826.89 which the Cone at Mutual has received from its | policy-holders. it has returned to them or paid to their beneficiaries $227,118.894.14, or 99.90 per cent. o paid What it has | back and what it still holds as_sec for poliey contracts aggregates $292,0: 441.39, or 128.48 per cent of its receipts | from policy-holders. This has been done at an expense ratio of only 9.28 per cent of the total receipts. NATURE OF PRESENT COMPETI- TION. The competition for publie faver in | life insurance continues to travel largely on three distinct abnormal lines: First. a postponement of ail dividends for ten to twenty years, whereby the effect of extravagant expense is concealed till the end of the period. and whereby the sav ings on the premiums and reserves of those who drop out in the meantime (ex pected to be about two-thirds of the whole in twenty years) are to be di- vided among thesee only .ho remain through: a speculatfih for the few luck at the expense of 'the unlucky “mutual” policy-holders Second. by the so-called incontestable policy. which puts upon the honest pol- icy-holder the payment of the loss on the dishomest one. to whom alone such a feature would presumably be at tractive: Third, by giving every policy-holder by way of an “annual cash value” the right to withdraw his contribution to the reserves in any year, which thus gives all the policy-hoiders the right to demand all the reserves in any year to the complete destruction of the Com- pany; and this demand is a first lien on all the assets and a first obligation on the part of the Company, to which the insurance feature is a mere temporary and edsily defeasible incident. The pre- miums paid in ostensibly for life insur ance have a “string” to them. to be used at will, which converts the Company in to an actual Savings Bank. without the interest on deposits which makes it 1o the personal advantage of the depositor not to withdraw his deposits under ordi nary circumstances; and with the fur ther and great difference, that whatever one deposits in the bank suffers no sub- traction from its face. and receives in addition all the interest earned less a relatively slight expense account, whil~ the premiums paid to the life insurance company must annually contribute to losses and to relatively heavy expenses; so that the reserve which can be with- drawn is as a rule much smaller than the sum of the premiums he has paid in. and his privilege costs him out of all decent proporsion. And not the least mischief of this practice is the fact that in reality and in the résulting attitude of mind of the insured it subordinates the duty of prc tection for which alone life insurance exists anl without which it would never be used and could never have been c ceived to the changing personal int. ests of him on whom that duty o stantly rests. Under a multitude of con ditions, he is frequently tempted to use for himself the fund which alone se- cures that protection to others which is still his duty. and his most serious duty. because of their necessity and their con- stant danger. FHe no longer regards his payments as a fund permanently with drawn from the exigencies of his busi- ness and sacredly cevoted to the per- formance of his unse:fish office toward his own. His contract at once and al- ways prefers his claim to theirs. And it will not be many years befora the great mass of the life insurance business of the country will stand on this basis, its continuance and not only the welfare but the existence of the companies contingent on the non-exer- cise of the right of withdrawal of any and all funds at will. In the midst of this sort of competi- tion, which brings an -normous busine: but with enormous waste, at an ex pense which is as reckless as it is un- necessary, and which contradicts every principle and method by which proper and adequate results as to the security of contracts, the cost of insurance, equity between members, and the in- tegrity of the Company itself can be as- sured. the Connecticut Mutual holds steadfast to the truth which. be it never so widely or lightly disregarded. can never be denied. that the paramount pur- pose of life insurance. the one and only peculiar service it is contructed and fitted to render. which it alone can ren- der, and the only one worth its neces- sary cost even at a minimum. and the one spring of its high motive, is “to de- fend and provide. for™ those whose wel- fare ids on the continuance of one's life and who must suffer in all their fu- ture by its loss; that Mutual Life Insur- ance is the equal co-operation in good faith of those on whom rests the sacred privilege and duty to protect, to the end. ‘that the needed protection may be most certainly and effectively given. and that he cost to each may be made as many zion ] small as possible: that the Company which undertakes to become the instrument of such co-opera- tion is therefore bound to shape its every plan and practice to eonform to those conditions which enable it to ful- fill those ends in the highest degree with the greatest certainty in that far future to which fts contracts uti-ua_ utual That beneficent function of Life Insurance, in that view of its in- trinsic ity. the Connecticut Mutual Tar Aity-ciant vears: and it T '-e] w 3 moves to- ward its future of uses a quately P iy Ry romiee Hartford, January 25, 1904