The Seattle Star Newspaper, December 31, 1906, Page 7

Sie rHE SEATTLE STAR—MONDAY, Dex 190 ee ARES REN et LANA nee le A AS NER AS AERA a nen aN. SE r of Iife, ¢ t HOLD OFF Ke more dangerous for y at N ¢ v er in which everyone rk useful to a Keflog rt | " Buff K f t that nl 1 4 ! r - sauslit’ basiatel ta ti OLDEST BANK IN WASHINGTON parties are equally harmful to ou; above f . i 1 f journallate, wom) the life of this hundred million Rus [People pe therefore, of your | qual of ler q t S rn, | ; , wn inte ta; but do not spea r 4 netth " Thousands Killed and All Russia Reduced to jo» so nants, Jand own-| sian agricultural peasantry, whe, | own t +: hut do not speak for) you nelthe se ers, cccupled till now with special |trietiy speaking, lone ‘constitute [the people. Do nat Me about them, | Bor armed Will Establish a . i H p tts which have nothtr bod he seale sation, | Wut leave them in pen ht | lative « at Brutalized and Embittered Despair by a) ein iicmment yon whet atlcnt eeterstant the eit nation: |the government, if you can uy and eri i = o— Oe that yu shou live od and tru rpuaked Ce et rocepeines ta tae | heavens nad tea kanes aceieek Linens ber buow thal vos tn ia ve & Savings Department Group of People Who Are Not One Ten- Thous-| sno but yourselves, having sudden: | engineers, journalists, students, [ANK for yourselven, not for the peo- | lives become indubitably aware of the | land owners, women students, vet and that in thie violent rhe third tl t ( t Tol 1 19 7 ‘i ganization needed by Rus | erinary surgeons, chants, law, | gle there is not only nothing noble mtg My Sapa Bh harm pat oO al ndth of the Total. jwia im the mame this organiaa-|yers and railway men; the very |@f good, but that your struggle is a) #0l's article I an addrens to ty January id jtion (which ts be realized In the | people so concerned about ita wel) Very stupid and harenful and, above —_ bs ne or . 1 - . 9 future, and which each of you de | fare—are all harmful parasites on! all, a very immoral affair, convenience sake this addrens, vaatorly, fervent plece of work, t fines in bis own way), take upoa| that body, sucking ite sap, rotting! Your activity atms, you ary : aeranglh “¢ iraelyea alone the whole pon: | upon It, and communicating to tt/making the general consition ot | Civide 1 tato 2 published 1 tomorr o a | lity for these very terrible acta | your own corruption: t pe ple nes oF pat that the} = hich will be pub! THE REVOLUTIONISTS, HE SAYS, ARE PARASITES ON THE |) ‘ommit, and you throw bombs Only imagine vividly to your | Deople’s condition should be bet MASS OF THE PEGPLE, SUCKING ITS SAP, ROTTING UPON | Sttory, Murder and execute selves these millions, ever patiently |ter, It ts necessary for people} Silverware re Sale - ‘ ‘ < i 4 Thousands have been killed; alt| laboring, and supporting your au. |themaclyes to be bette This is] Closing out silverware at reduce . IT AND COMMUMBATING TO IT THEIR OWN CORRUPTION, | Russians have been reduced to de-|natural and artificial life on thelr |an much a trulem as that to h | pet on this week at Chicago Jeweir ——me spair, embittered and brutalized. | shoulders; Imagine them possessed |" Youse! of water all the drops tn} Co, 1207 and ay SRR RRR RAR RR RRR a [And What ie it all fort It is all /of all these reforms you are hop it must be heated, That people |** because amon a amall rou oft obtain, and you will see how for. | may become bett it ta necessary * . 0 group | NOTE—The following ts the second article by Count Tolatol @ people, hardly one ten-thousandth | elen to thie people fe all that you | that they should turn thelr atten b 4 on Russian revolut In the next article Count Tolatot @ |0f the whole nation, some have de-| are aiming at, professediy for their] tion ever more and more to thet It's easy to save money. eu his address to mass of the Russian pooplo.-Kd- & | Sided that what is needed for the) advantage, They have other tasks, |{nner life. But external public ac But It le hard to get started. @ itor st % | very best organization of the Rus-|and see more profoundly than you | tivity, and especially public strife You will find It ensler to get as gig * % [sian empire le the continuation of |do the atm that ts before them; | always divert men's minds from|I started now, though, when Capital, Surplus, Undivided Profits ToC CcL et eee Tee ee eee ee eee ee ee jthe douma which lately sat; while nd they express the consciousne | the inner life oad it retore, by everybody |e filled with enthus A others say that what is nv of their destiny, not in newspape orting people, always and th- |i jaem for new resolutions. BY COUNT LEO ToOLSTO! a douma chosen by unive urticles, but by the whole life of a|¢vitably lower the level of general |i | a ince account with $1,000,000.00 (Exclusive publication ia The Star for this territory.) eret and equal voting; a third| hundred people j Morality, as has everywhere bee wh art a Savings Accou . . 27 a ou or derst he case, and a® we now mont (Part 2) TO THE REVOLUTIONISTS. party say that what ie needed ie) But no, y cannot understand | th at 40 s eaoah . . a ica a republic; and yet a fourth party | this. You are firmly convinced that | strikingly exempl | eesee De roSIts pe ~- Be ne rational wa ey r stoma ‘aaa ns Bhd : = declare that what is needed is not) this coarse folk has no roots of its| This lowering o the level of gen I} Seen CHUSTERANES ERG Catenens a Sees cere eral morality causes the most — “agp xy ot ona we i [an ordinary republic, but a social|own, and that it will be a great | eral mor anon Benins—who wigh to revlace the brozent goveramental authority Wy [it feauati “nator the anne ot] tasing for tf Jou ealighten i |woral part of woclety to come more) WePayd Per 9,500,000.00 ey — dbs herwise organ and consl Sc a ot POODIC. | this, you provoke a clvit war! with the latest article you have | and mare to the top ona = iow my > You say you do {t for the peopte’s | read, and by so doing make ft as| moral public opinion ts formed c You, stutionists of all shades) forgotten that all the crue! acts | sake that your ehiet aim is the| pitiful, helpless and perverted as| which not only permite, but even | t. interest ind denominations, consider the | committed by members of the gov-| welfare of the people. Hut the) You are yourselves | approves crimeay robber de-| - coverament hartuful, and|erament in their struggle with you | hundred millions for whom you do| You say you want a fust organt-|bauchery, and murder tteolt || On Savings Accounts interest om Savings Acoounts at * ways, by orga ng a® | are justified in thelr eyes, because | it, do not ask it of you, and do not! tation of life, but in fact you can Morality ts lowered m and : allowed or probibited by | they, from the czar to the lowest | want all these thi hich you, by | exiet only under an trregular, un re, and the most imam ol ts, printing articles, making| In unlimited respect for the estab-| mass of the people does not need | Just organization be established, |leons, Talloyrands, Bismarcks, be —_ tated Bpecches by unions, strikes and | lished order, hallowed by age and | you at all, but always has regarded, | ¥ith no nce for the who live | come the her of the day. So that jaMhe Db MOGE., Oo @emonstrations, and, finally (aa a| tradition, when defending this or-|an4 still regards you, and cannot|0n the labor of others, you all: | participation in public activity am * & SOLER tural and inevitable basis and| der, feel fully convinced that they / but regard you, w e grubs | landiords, merchants, doctors, pro-| strife, is not only not an elevated DIRECTORS Compounded Semi-Annually, Ra’ @ y. Consequence of all these activities),| are doing what f# demanded of | who in one way of another consu fessors and lawyers, as well as fao-| useful and good thing, but on the Dy muriers, executions An: dithem by millions of people, who) the fruits of ite labor and are a/ tory hands, manufacturers, ork: | ; | ene g mee = fusurrections strive to replace the| acknowledge the rightfulness of | burden upon it. [shop owners, engineers, teachers New Year S ve | yh existing § aut ity by another—a/ the existing order and of their po- new « aition tn it Though you are all at variance| So that the moral responsibitity | among yourselves aa to what this | for their cruel actions rests not | authority should be, yet to| them alone, but ts shared by many Dring about the arrange nts pro | peop’ You, on the other hand, compete mac! lop short at You of all sorts of professions teachers, engl ore. stu by each of your gro no crimes “™, you urders, peop! doetors, @xplosions, executions, or civil war. | ~~ ry N | have no words strong| r @nough to express your condemna-| See you Wednesday. Let's throw Hon and contempt for those offt-| away our hammers and stre ou | personages who iggle} the weak spote during 1907. F. M. you it should not be Dance the Old Year °".~ Only producers of cannons, tobacco, *, looking gla: velvet, ete with the o t would stine to yourne cle | death What YOU need is not a really A 05,000 GOWN IN SEATTLE A swell dancing party will be gty-/ starve te) will be held at Leschi Park pavilion | | re of the! Bawart KO Dune Party tht ning wh participate fancis ore everyone lightful celal = pre may} evening ations en at Leseh! Park pavilion tonight,| A marvelous plece of handiwork | have for the & T t Cc. where you may dance out the old | made exclusively of silk threads by| those attending a rus stl year and start in the new year, on | Seatt fam artist, Madame] continue until on Cer. Geomnd Avenee ant Cherry joying yourselves. Extra fine music| Binor Beagle, whose parlors are 229! may dance tm the new yoar Mogs Buliding, Geaitie, W . hed by Wagner's full| People’s Bank Buflding, This gown |nor's full orchestra w furnish of so+ | Gentlemen, 50e clock. | ts on exhibition at the Bon Marche rary on Dan extra fine muste, Gentlemen, 50 Ladion free DEC BEAR BAVINGS WILL ON OR BEFORE JANUARY 6, 1907, ROM JANUARY 1, 1907, INTEREST F ra of un H Our more than 36 y nterrupted success testifies to the confidence enjoyed and we doubt not those seeking « savings bank connection with a powerful financial inetitation will web » this announcement of our in SMALL DEPOSITS ENCOURAGED OUR WATCHWORD: “First, last and all the time, a business In every respect beyond reproach” ;METROPOLITAN LIFE INSURANCE CO. (INCORPORATED BY THE STATE OF NEW YORK, STOCK COMPANY) “The Company OF the People, BY the People, FOR the People” Review of 1906 and Announcement for 1907 Bulletin No. 475.—New York, December 8th, 1906 To the Field Force: GENTLEMEN It is our custom to address you each year at the time of our an- nual Superintendents Convention, Ueually Oria ts held about the middle of January, and the topic of the Bulletin fs naturaity the An- nuat Statement of the Company. This year the Superintendents meet in convention the middie of December, and obviously the record of thé year fe not made up, and it would be premature to set forth the progress of the Company in Ita business and finances. We shall have something very pleasant to say to you before we close about what you have accomplished; but our immediate object is to tell you about our plans for next year. Industrial Department. You have known from numerous addresses, both oral and written, what eur ambition has been for years in the Industrial part of our business. You will bear us witness that our treatmer: of the poliey- holders has been one of progressive liberality ever since the present administration of the Company begnn. The very first year of ite fncumbency Paid-up policies—theretofore unknown to Industrial in- surance tm this country—were announced; and every yoar since then something has been done for Industrial policy-holders beyond any promise made in the policies, Bulletin No, 195 set forth these conces- sions and bounties up to its date am. since then the successive yeare have been marked by progressive gifts and benefits offered to policy- holders; and this year the Company has been disbursing the enor- mous sum of about two millions of dollars tn voluntary dividends upon non-partictpating Industrial policies; bringing the total amount of unpromised dividends In twelve years to about ten millions of dol- fare to Industrial policy-holders in the form of dividends on pre- miums, dividends on death claims and increases of benefits upon ex-~ isting policies. We have been enabled to accomplish this work all these years by steady Improvements in business methods, by steady extensions of business territory, by steady additions to insurance in force, by watchfulness in writing and taking care of business, resulting in @ decreasing death rate, decreasing lapse rate an@ Gecreasing expenserate. ‘These improvements wo have announced to you from year to year; but perhaps from this very fact—their gradual, steady progressiveness—you have fatled to grasp their full significance. Yet year by year we have told you our alm—to reduce expenses, to improve the death rate, to better the policies, to distribute the surplus, so that each year a larger proportionate amount could be returned to pollcy-holders and a smaller proportionate amount used in expenses, Within the last few years our disbursements for death clatma have been #0 continuously and markedly less (n proportion to income and our improvements in ratio of expenses shown fo steady an im- provement, that we thought the time had come to make a scientific resurvey, #0 to speak, of the technical features of the business. We have made Investigations into our mortality and drawn off into various periods our experience of mortality. The mortality tables upon which our present tables are founded were taken from the ox- pertence of 1990-1894. A comparison of thie with tables taken from the experience of other periods has shown a steady Improvement in mortality, In the case of children the remult \s really startling. Take, for instance, age two next birthday, Our present table shows 49.3 deaths per thousand; « table 1896-1905 shows but 94.9; age three the figures are respectively 22 and 24.2; age five 16 and 9.8 5 and 2.4, and this improvement runs through the Infantile to adults there is also a marked fb Thee. ten 6. age table. As ement, facta convince us that the time has come to construct new tables of benefits founded upon our experience of 1896-1905; and we are confirmed in our conviction by the fact that a table wn from the years 1901-1 shows @ better experience than that of the full decade. And It seems to Gn just to base those tables u the expe- rience of white lives; and to give benetits based upon the improve ment which we feel cert permanent. i at this | ment is we Mlustrate by a few figur mparing the table which our present benofits are based with a table of whit en the past ten years, Deaths per thousand xt birthday 49.3 reduced to 34.7; age three a to 1 age five 16 to age t to 34 y thirty 15.7 to 11.1; age forty 19.2 to 14.3, 7 ther element t ortal ity involved in a table of benefits ia of sourse the ex As you know, our ratio of expe to premium income has been falling for some years; this year the reduction has been phenomenal and will reach, we think, by the end of the year, three per cent! This alone means a saving of near shall show @ lower ratio of expense wnced by any Industrial company in the yone and a half millions of dollars! We r 1906 than has be world, nm experl- One other element goes ir matruction of tables of benefits; and that ts the maturity of the potle When we made up our pree- t table we were convinced that the public was enamored of endow- ments, Our Industrial business bas been iseued for ten years, ax you know, mainty upon Endowment tables—Increasing Life and Endow- ment policies and Twenty-year Endowments forming a very laree proportion, In some years over $9 per cent, of our total business, One disadvantage of this table haw been that it largely increased the re- ur children’s Increasing Life and Endowment policies have mente payable after periods of 47 years and upwards ac- cording to age at issue. Compared with the Whole Life tabies issued by other companies these have made necessary the accumulation of an in ions of dollars In reserve, hinking per- sons come to the plies up the wealth of the Com- pany, forgetting that along with the Increase of wie rune the in- crease of Mabilittes, and that the wealth of a company consists In its surplus; and completely overlooking the remarkable fact that we have deliberately kept down the surpius to « of our am sets by annual distributions Bf the excess of surplus earned to the polley-holdere who contributed to it. Public pinion has changed and now cares more for death benefits than endowmenta. We in business to please the pubite We have a good deal of evidence that Ordinary Life and Limited Payment Life ptracte are thought preferable to Endowments We have resolved therefore to discon- tinue our Increasing Life and Endowment policies, which were de- signed to meet the public demand formerty exieting, and which were, we believe, the first tables ever really actentifically constructed for Industrial potictes, Our new Industrial policies will therefore be Whole Life contracts. But we think that as to these there are signaot a belief on the part of the public that payment of premiums ought to ee with old age, It i# hard for people to see what to any math- ematictan is self-evident, that In life Insurance the companies are enabled to pay the policies tn full on fives of those who die soon after inaurance ly by the receipt of premiums from those who tive out and beyond thetr expectations; and that the apparent hardship upon those who live long is only the contribution to the unfortunate which ts the essential basis of life insurance. However, it is possible serve. ¢ been endo rease of many mi onctusion t ut ten per cent are of cours to make tables for limited payments, and the problem ts therefore to fix an age that shall not be so young as to raise the pre. miums or (what is the same {n Industrial Insurance where the unit is the premium and not the amount of inaurance) to reduce the ben- efits unduly; and on the other hand to fix the age not so old that the benefits of the limits of payment of premium shall be lost. We have fixed the 75 as the limit of payment of premiums because at that age we are enabled to only slightly reduce the benefits during the life and because we have not recetved many complaints of the neces sity of paying premiums up to that age, And to the occasional com- plaint that “people never live to such old age,” we may answer that in 1906 we shall have voluntarily, as matter of grace, paid about 2,700 clalm# as Endowments on policies insued as Whole Life on per reaching age 80 after paying premiums for 16 years or over Constructing a table of benefits upon these four principles Life instead of Endowments, our recent mortality experience of our old; @ loading proportioned to our reduced expenses payment of premiums ceasing after age T6-—we shall put rth for 1907 new tables In the Industrial partment which are better than any company has heretofore ifued and better than we have ever be- fore felt it safe to issue. The most striking change t* in the Infantile table, because there with p ne Whote instead and the we substitute Life tables nt of premiuma limited to ne for our comparatively short Increasing Endowment tables now In use; and ure therefore enabled to pay In benefits what we have been mmpelled to hold as reserve Mability upon the endowment features. Our new Infantile tabi for a weekly premium of five cents Tt tn payable will pay nearly as much in death benefits we have heretofore paid for ree understood that the echildre ased the bene a weekly premium of ten cents. nefite and this we ite at the law fixes a maximum of be cannot exceed, Woe have therefore tner upol later ages for persistence. Thus at the age two at entry the benefit In case of death at age t is $173, while the benefit at age three at entry dying at age ning ie $169, and the benefit at age four at en- try dying at age nine is $165, and ». ‘This is a recognition of the additional years for which premiums have been pald by those en- ter at earlier ages when death o ire at th earn an It follows from this large reane of benefits for five « that hereafter no poll od under the Infantile tables for o ‘otal premium ofr ents. And to meet a desire for leas ineirance, om pecgally farnilies, we have a table with proportionate bene- fits for a weekly premium of three cents, Our adult tables show an increase of benefits for the same pre- mium based strictly upon our tabi mortality, At age ten the increase is 12% per nt. over our present Life table and nearly 18 per cent. over our Increasing Life Endowm table, Ata 20 the increase is over nine per cent. and over 23 per cent. respectively; at age 80 the increase ig noarly six per cent, and nearly 20 per cont, respectively; at age 40 the increase I two per cent. and over 13 per cent respectively, and so on An@ in comparing these tables with our present Whole Life tables (and with those of most of the other Industrial compantes) it must not be forgotten that these old tables provide for paym mium during the whole of iife, while under our new tables payment af promium ceases at age TS. We have increased the immediate benefits under all of these poll- cles in accordance with the rule we made retroactive this year, to half-benefita during the fiyst six months and full benéfits thereafter. We have introduced into all of these policies new features in the way of surrender values. Paid-up policies will be granted after three years instead of five; extended insurance will be granted after three years at the option of the holder; and cash surrenders will be paid after ten years. Tho policies will be tn new and attractive forms, with three pages Instead of two, in order to set forth all of the concessions, making the rights of the policy-holder so plain that any one will be able to tell what he ts entitled to. And the whole contract will be ex- pressed in the policy, doing away entirely with the necemsity of a copy of the application, using the form in this respect for all policies which we adopted many years ago for policies under $100. Ordinary Department. One of the most striking resulta of the Armatrong Investigation was the adoption of @ provision restricting expenses for the first year of the Ife’ of the policy. And what (s most interesting as well as complimentary to the Metropolitan is the fact, which appeared in the newsppaer discussion at the time of the adoption of the report and bills, that this restriction by law was justified by the experience of this Company in the matter of expense as shown by the analysis of its annual reports, It ts true that this Company kept its expenses almost within the limit prescribed by the new statute, But the statute is a penal one and we cannot run any risk of overrunning the limit of ex pense, This necessitates a reduction of comminsionn, but the reduc tion will be very much lew than that made necessary by the com- panies ievulng participating policies. This Company will not issue after this year any other than non-participating policies. In fact, in the true sense of the term we have not Issued any other for nearly fifteen years; for, aa we have often explained, the Intermediate and Special © policies were based upon stock or a non-participating loading and the dividends promised, if, earned, were expected to be derived from the mortality, These polictes were entirely novel and we bad little experience to guide ua The Intermediate policies were based upon our Industrial table of mortality and were designed for Industrial risks who could afford to pay annual instead of weekly premiums; and the mortality of such a class could not be foretold The Special Class policies were for sub-standard risks as to which the mortality could not be accurately predicted. What we undertook to do was to pay back to the policy-holders the gain from such im- nt of pre- provement in mortality over the expected as should be actually ex- perienced. As participating poticios are based upon a higher or #o- called mutual loading out of which dividends are expected to be . We claim that our Intermediates and Special Class policies upon a stock loading were in principle non-partictpating. All of our other policies in the Ordinary Department were by their torms non-partictpating. The law has juatified ua in the principles we pled fifteen years ago, and today the Armatrong laws and the sim- far ones prepared for other states are a vindication of the Metropoli- tan principles in which you hav We have now an ex perience of Intermediate and Spectal Class risks which enable us to prepare non-participatir *. The table emiums as to these policies have heretofore mpletely ed. We think you Will find them mont We realize that we shall henceforth have more competition in non- Other 1 thelr been trained tab of p jus been ¢ attractive, lem have Participating policies compan announ pur- » to reatrict their ¢ to this form, We have therefore thought it in your Interest as well a# our own and in the interest of the public, which is supertor to both, to use a part of the reduction of commission to effect some reductic of premium, New tables have en prepared which we think will be attractive to our customers and which there- fore will be profitable to you, In adjusting these commissions we have thought It only just to restore to the Superintendents an interest in them Which we were compelled to withdraw a few years ago and which you remember the Vice-President promised at the time to re- hen we should be od work of Assistant Supertt rk of thelr agents, W yerintendents and Assistants include the agents In the work of the Ordinary De around insurance men. able to arrange It, And we have tendents by store Also recog giving them an that the duties of instruction and training partment. W Our Superin- duty the su- and the education of nized the « interest in the w reall of Industrial all of our @ nd Assistants have constant help ar want genta to be all imposed upon them as a 1 end tendents a perviston, the ement their agents. We have made it an Interest as well as a duty, Our new policies will be found most attractive In form and even more attractive in substance, They contain all of the advantages and concessions which we can afford to give and which the public to expect. The surrender values will be found to be ge have a right srous and take the optional forms of extended ingurance, paid-up insurance and cash. They are the standard forms of the New York Department, the work of experts which has legislative approval. They are as plain to the understanding as they can be made, We have discontinued many plans We shall issue Ordinary Life, Limited Payment, Endowment and Term plans; and we have applied for pers miasion and hope to issue in addition thee plans which the pubile have stamped with thelr approval—namely, the Optional Life or En- dowment, under a new name, the Modified Endowment with Life Op- tion: the Guaranteed Dividend, also under a new and more descriptive name, the Guaranteed Increased Ei and the Reduced Pre- mium Life under its new name, Life with Reduced Premium after 20 Years. # unnecessary. Jow ment; Gentlemen, We are entitled to say that the Armstrong Investiga- tion was @ vindication of the methods and practices of the Metropol- itan Life. The Armstrong laws are in many respects a distinct recog- nition of the work we have done together these many years, See that you appreciate this fact to the utmost. Show that you do by making the year 1907 an unexampled year for the issue of more policies, for larger insurance, for greater gain, for less lapses and not-takens, at @ leas expense, at a greater return to policy-holders than you have ever done. Live up to your blessings! Show that you appreciate the re+ ward which the Legislature has conferred upon your good work of the past! Make 1907 the greatest because the best year in the Company's history! ‘This ¥ 1906. You have started well. Last year, the year of the Investigation, you did the largest business we had ever done, The first part of this year the paralysis which seemed, unreasonably and unneces> sarily, to have fallen upon the business in general, appeared to have affected even you—even more unreasonably and unnecessarily, Find. ing this to be the fact, the Vice-President appealed to you in personal conference with the Superintendents in little groups all over the coun- try, pointed out to you the facts and conclustons of the Armstrong in- quiry and the results as embodied in legislation; showed you the ese sential approval we had recetved In our work in both departments, and asked you to respond to all this for the cemainder of the year by making the best record you had ever made,‘This was In May and June. It would be most ungrateful not to hidke, this public and gen- eral acknowledgment of your response to the «ppdak und on behalf of the Vice-President I give to you his personal thanks ai add our of- ficial acknowledgments. The year is not yet ended ghd.ep cannot therefore teil the whole story. But for the magithg July to a inclusive, Compared with the same monthe of previous years: which,” re * You made the largest amount of Industrial itipte Company ever made, except in 1894 and 1903, The agents wrote the largest amount of Industrial bu aver- * age per man, of any of the last ten years, The average increase per man was larger than for any of the past ten years The ratio of lapses was the third lowest for ten years past, ‘The number of transferred accounts was the lowest for eight years, notwithstanding the larger force of men with which we started and the larger reduction in the force we have made this year, The collections were best in the history of the Company! The death claims reached the lowest ratio for the last 25 years— notwithstanding the increased average age of the pollcy-holders, ‘The special salary to agents averaged the largest amount in the last ten years; and yet we saved $100,000 in the total compared with last year. The saving tn total cost In these items alone, medical fees (bee cause of a reduction in number of applications), assistants’ salaries and special salary, was at the rate of a million dollars a year, We may add that the Pacific Coast kept up with the procession by the remarkab’ caused by the feat of covering for the year the arthquake and ts certain to cloge the y enormous lapse ear with a hand. some rease In the Ordinarf¥ Department September about equalled September last year while October and November largely exceeded the core nding months of last year, and December promises to be a rece ord breaker! nd taking the last six hs for comparison—June to Novente ber, inclusive—you wrote more Ordinary than ever was written b; the Company tn the corresp ¢ months and exceeded 1905 by “we six millions and a half; and t t must be remembered by more thag 3,000 less men! We are proud of this record # response, We cannot say more happiest and most prosperous and we are grateful to you for your than to wish for you ang year of your Ives in ger yours the 1907; Very sincerely yours, John R. Hegeman, PRESIDENT, 6 St A ETI LT TS TT ANTENA AN SC ee aL cc ae eae EI SARS i TROLL