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New-York tribune. [volume] (New York [N.Y.]) 1866-1924, December 20, 1906, Image 4

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Review of 1906 and Announcement for 1907
To the Field Force.
GESTXEMEWi r ~ "^ m '
It Is our custom to addrwss yon each year at the time of our
ynrrrni Cnseiinteadents' Convention. Usually this is held about the
mftdflle of January, and the topic of the Buixetht is naturally the
AxstuJ Statement of the Company. This year the Superintendents
meet ln convention the middle of December, and obviously the
reoord of the year la not made up. and It would be premature to
•«>t forth the progress of the Company ln Its 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
la to tell you about our plans for next y«ar.
IJTDUBTBZAL DEPABTMECT.
Tou fcave luiwvn from numerous addresses, both oral and
Vi!tt*n, \rhat onr ambition has been for years In the Industrial
part at otxr r-tisirw»«j>. You will bear us witness that our treatment
of the policy-holders has been one of progressive liberality ever
f irtoe the present administration of the Company began. The very
first year of Its Incumbency Paid-up policies — theretofore unknown
to Industrial insurance in this country were announced: and every
year sine* then fomethiner has been done for Industrial policy
ho2Cers beyond any promise made in the pollcle*. Bulletin No. 195
set forth these concessions and bounties np to its d«u«. and since
then the saoeaastM years have been marked by progressive gifts
and benefits offered to policy-holders; and this year the Company
has been disbursing the enormous sum of about ftro millions of
dollars ln voluntary dividends upon non-partlclpating Industrial
policies, bringing the total amount of vnpromUed dividends in
twelve years to about ten millions of dollars to Industrial policy
bolders irs the form of dividends on premiums, dividends on death
claims and increases of benefits upon existing polices.
TVe have b<=-.*n enabled to accomplish this work all these years
by steady Improvements In business methods, by steady extensions
of buslnees territory, by steady additions to insurance in force, by
watchfulness in writing and taking care of business, resulting In a
dacreasingr death rate, decreasing lapf>e rate and decreasing expense
rate. Th^se Improvements we have announced to ymi from year
to year, but perhaps from this very fact — their gradual, steady
progressiveaeas you have failed to grasp their full significance.
Tet year by year we have told you our — to reduce expenses,
to Improve the death rate, to better the policies, to distribute the
•urphis, so that each year a larger proportionate amount oould be
returned to policy-holders and a smaller proportionate amount used
tn expenses.
Within the last f»w years our disbursements for death claims
have been so continuously and markedly less In proportion to In
come, and our Improvements in ratio of expenses shown so steady
en Improvement, that w. thought the time had come to make a
fdrmiflc resurvey. sa 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 so* present tables are loondad were
taken from the experience of 1890-18S4. A comparison of this v,ith
tables taken from the experler.ee of other periods has shown a
Steady bnp*a*«»Mßt In mortality. Tn the case of children the result
is really startling. Tak<>. for Instance, a^e two next birthday. Our
present tab! shows 49.3 d*-ath* p. thousand; a table 1896-1905
fhoT-s but T. 6.9; nge three the figures are respectively 32 and 24.8;
age five 76 and 9.5: ase ten 5.5 and 3.8, and this Improvement runs
through the Infantile tafela. As to adults, there Is also a marked
Improvement.
Tbesw facts convince us that rh^ time has come to construct
new tables of benefit" founded upon our experience of 1886-1905;
and we are confirmed In our conviction by Urn fact that a tible
drawn from the years 10C1-19C5 Shows a better experience than
that of the full d^-cad^ And it wns to us Just to base these tables
upon the experi-noe of white, lives: ard to give benefits based upon
the Improvement which w« foel certain Is permanent. How great
this improvement is we illustrate by a few figures comparing tne
table upon which our present benefits are based with a table of
TRIE ALARMS SHOPPERS'.
tßlaze in Clumvey Nearly Causes
"hlacy'x Patrons to Scurry from Store
A rhimri«-Y in the "Bobby" gmlth Building, at No.
1213 Broadway, adjoining- the B O. Macy store, at
Broadwßy and B<th ■Uett. shortly IWore 4 o'clock
yesterday tfteniooq. caused a rush Is. ba made for
the exits by about tw.-r.Ty-;iv. thousand Fhoppers.
mostly women, wlm n■ r- dolnjr th»-lr Chr!etma»
•hcrpirii? in the tip o>partmpr.t ftore. If it had
riot \f<-n for the eoolpt— sf the flx tboosand en
ployes in tie store, under Sur*>r!r.'en<l(-r.t Pitt, and
the effort* of the police reserves of the 17th SJftfl
Z2th Precincts tVe •EeftCßMSt nucht have enCeA in
A paaia. Forttinately. ih<» only damage -was to
hats, clothing and parcels, ■jrhich were more or
lets damaged in th» crush on the stairways, in the
elevators and at the exits.
The tarn was discovered by a man who was pass
ing th« store at the me. Da Immediately s*t up
th« cry, "Macy's is on f--: Others took it up
end ruFhed into Mary's, shouting. "The store is on
f.rt' Qet sotT" BooadsSßaa Howe, who was stand
ing near ty. turned in an alarm and a «all Isr re
twrtes and then hurried to the exits of the store
*-:- v . wv^ral other policemen. In the mean time
Supefir.t^n<Sar.t Pitt had h« ar<i the cry .-.-.•; at on^e
met't orders to the floorwalkers and other CB
rl^ves to t»! the shoppers that there was abso
lute!y r.o danger and tr> see that every one went
©•Jt as g*Ssdy as possible, The result being that
th*re wei r.o e'.frr. of a panic. Nevertheless there
tt».s a lot of «oteit«in»nt, and the shoppers rour*d
out of Lhe #-xits. vvujc-a
' >." fire started In the kitchen of the rathskeller
8? J. L Murray, in the basement of the Sm'th
»ut.<lli ar.d the flames from the chimney set f.ra
to the ro©'. which was of tarred paper] Th«s dam
*g*- WLIB about JIOO.
PARDON FOR ELLENBOGEN
yiction Taken by Gov. Higgins
Mayer Recommended Clemency.
Albany. Dsc Governor Hl^glns to-night
announced that he had pardoned Samuel K.
Ellenbogen. of Xe-.v York, convicted of pel July
in that cny in 3V**",. following an Investigation
of alleged election fraud* in connection with the
municipal •ssetssn. Ellenbogen received an ln
detemilr.au SMitence. His conviction was af
Every Train a i
\ Two-Hour Train /
\ From a.m. to (p. d. /
\ | TO PHILADELPHIA I /
— - VIA
1; New Jersey Central 1 1
/ Train Every Hour \
t on iho Hour \
f &c*reW.adfct.Umiscteibe2er*t£e!iocr \
CUttoniWeflTsDST. EXCELLENT 1
ÜBEKTf «. DWISQ BEBVICE
thiiTWtfliT TM irinm hip
OUR WATCHWORD: '* First, last and all the time, a business in every respect beyond reproach."
"The Company OF the People, BY the People, FOR the People."
CLYDE POWERS AND SIS TRAINED PIO PHfEBE, AT THE HIPPODROME.
firmed a few weeks ago by the Court of Appeals.
Attorney General Mayer, who conducted tha
prosecution In Ellenbogen's case, recommended
executive clemency.
SamueJ K. Kllenbogen was a city marshal and
Tammany district captain In the 2d Assembly Dis
trict. He was found irullty of p«rjury on Novem
ber 28, 1905. in the illegal registration of »wo men
from Ho. 55 Mott street, whose real places of resi
dence were in Rutgers street. He was prosecuted
by Attorney General Mayer and made a general
denial of the accusations. Questioned at the time
about four charges brought against him by the
Mayor, Ellenbogen declared that they ha<! all been
proved to be based on misunderstandings. Cross
questioned as to the statement by George W. Mor-
Kan. Superintendent of Elections, that Kllenbogen
had made an affidavit that Jacob Mendelsohn lived
at No. 65 Mott street. EUenbogen declared that he
had not nid this of his own knowledge. The lurr
was out se-ien hours.
PHG BE TRAINED HG. AT HIPPODROME
Hitched to a Wagon, Animal Performs Vari
ous Evolutions at Command.
What was said to be the flnrt trained pig ever
exhibited anywhere in the world was shown to the
Hippodrome audience yesterday afternoon when
Clyde Powers, the professional trainer of geese,
introduced a fine. fat pig. named Pho»b«.
I hCßbe had been rehearsing for nearly a year be
fore Mr. Powers was able to "break her to har-
MM - He hltcaed her to a small express wagon
yesterday, and then mounting ttie seat drove her
around the clrcu* ring at the Hippodrome, made
her stop and lrO forward at command, and perform
?»?«t 1 L * Vo '- 1 V orUi - Mr I<uw " r < says tbi- i,
atywher^ &VS b " yen U n drlVfcD iv harw ™
NEW- YORK DAILY TUTKrjXE.- THTKSD AY. DECEMBER 20. 1906.
INCORPORATED BY IMF. STATE OF NF.W YORK. STOCK COMPANY
Bulletin No. 475. - New Yorx, December Bth, 1906
white lives for the last ten years. Dcatlif p*»r thousand: age two
next birthday 49.3 reduced to 34.7: qjre three 32 to 22-ft: ape four
21.6 to 13.2; age five 16 to 9.5; ag.- ten 5.5 to 3.4; agre twenty 10.S
to 7.1: age thirty 15.7 to 11.1; age forty 19.3 to I4J The other ele
ment besides mortality involved in a table of benefits Is of course
the empens*. As you know, our ratio >>f expense to premium Income
has been falling for some years; this year the reduction has been
phenomenal and will reach, we think, by the en>l of the year, three
prr cent.! This alone means a saving of nearly one an<l a half
millions of dollars! w> shall show a lower ratio of expense for
1906 than has been experienced by any Industrial company in the
world.
One other 'l*»m*»nt goes Into the construction of tables of
benefits; and that is the maturity of the policies. When we made
up our present table we were convinced that the publtc was
enamoured of endowments. Our Industrial business has been
issued for ten years, as you know, mainly upon Endowment tables —
Increasing: Life and Endowment policies and Twenty-year Endow
ments forming a very large proportion, In some years over 90 per
cent, of our total business, One disadvantage of this table has
been that it largely Increased the reserve. Our children's Increas
ing Life and Endowment polidi have been endowments payable
after periods of 47 years and upwards according to age at issue.
Compared with the Whole Life tables issued by other companies
these have made mcessary the accumulation of an increase of
many millions of dollars in reserve. Unthinking persons come to
the conclusion that this piles up the wraith of the Company, for
getting that along with the Increase of assets runs the increase of
liabilities, and that the tcealth of a company consists in its sur
plus; and completely overlooking the remarkable fact that we have
deliberately kt-pt down our surplus to about ten per cent, of our
assets by annual distributions of the excess of surplus earned to
the policy-holders who contributed to it. Public opinion has
changed, and now cares more for death benefits than endowments.
We are ln business to please the public. We have a good deal of
evidence that Ordinary Life and Limited Payment Life contracts
are thought preferable to Endowments. We have resolved there
fore to discontinue our Increasing Life and Endowment policies,
which were designed to meet the public demand formerly existing,
and which were, we believe, the first tables ever really scientifically
constructed for Industrial policies. Our new Industrial policies will
therefore bs Whole Life contracts. But we think that as to these
there are sl^ns of a belief on the part of the public that payment
of premiums ought to cease with old age. It is hard for people to
ccc what to any mathematician is self-evident, that in life insur
ance the compani'-s are enabled to pay the policies in full on lives
of those who die soon after insurance only by the receipt of pre
miums from tho^e who live out and beyond their expectations; and
that the apparent hardship upon those who live long Is only the
contribution to the unfortunate which is the essential basis of life
Insurance. However, it Is possible of course to make tables for
limited payments, and the problem Is therefore to fix an age that
shall not be so young as to raise the premiums or (what Is the
same ln ludustrlal insurance where the unit is the premium and
not the amount of insurance) to reduce the benefits 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 age 75
as the limit of payment of premiums, becanse at that age we are
enabled to only slightly reduce the benefits during life and because
we have not received many complaints of the necessity of paying
premiums up to that aare. And to the occasional complaint that
"pe«<ple never live to such old age." we may answer that in 1906
we all have voluntarily, as matter of grace, paid about 2,700
claims as Lndowmtnts on policies issued as Whole Life on persons
reaching af?e 80 after paying premiums for 15 years or over.
ns*r'!cting a table of benefits upon these four principles —
■vThol- L'?*- instead of Endowments; our recent mortality experi
ence instead of our old; a loading proportioned to our reduced ex
penses; and the payment of premiums ceasing after age 76 — we
shall put forth for 1907 new tables in the Industrial department
which are better than any c< mnany has heretofore Issued and
better than we havo ever fore this felt it safe to issue.
The most striking change is in the Infantile table, because
there we substitute Life tabloa with payment of premiums limited
to a«re 75 for our comparatively «hort Increasing Endowment tables
now in use; and are therefore enabled to pay in benefits what we
have been compelled to hold as reserve liability upon the endow
ment features.
Our vetr Infantile tables uill pay nearly as much in death benefits
fc* a weekly premium of fire cents as vce have heretofore paid for a
weekly premium of ten cents. It is of course understood that the
law xes a maximum of benefits payable upon children, and this
we cannot exceed. We have therefore increased the benefits at the
later ages for persistence. Thus at age two at entry the benefit In
ensa of death at age nine is $173, while the benefit at age three
at entry dying at age nine Is Jl6r and the benefit at age four at
entry dying at age nine i.s $165, and bo on. This is a recognition of
the additional years for which premiums have been paid by those
entering at earlier ages wh^n death occurs at the same age. It fol
lows from this large increase of benefits for five cents that here
after no policy •will be issued under the Infantile tables for a total
CHILDREN WERE BRAVE.
Pupils of P. S. SO Sit Still Though
Fire Threatened Building,
In spite of the fact that the clan^ln^ of the bells
of many fire enxin«- and the clatter of the ap
paratus as it rattled up could be plainly heard, and
that the rooms were thick from the smoke that
poured forth from the burning house next door,
twenty-eight hundred children in Public School 3o|
In East SSth street, yesterday sat still in their seats
under perfect control of their teachers for a long
fifteen minutes, unlll th# usual noon recces bell
ran*. Then, without any sign of disorder, class by
class, they were dismissed under the guidance of
th« teaching: staff. th» enly departure from the ac
customed practice being that all left by the east
exit, the western one being too full of emoke to
permit of Its uee.
The flra was In the five story tenement No. 214
East SSth street, and started In the apartments of
Mrs. William Kelley. on the third floor. There are
lour apartments on each floor, and twenty families
live there. Mrs. Kelley went out shopping and left
her two children— Willie, aged nineteen months,
and Paul, two years asleep on a bed in the
front room. Mrs. Schrnetterer, a neighbor, saw
tmoke pouring from the Keliey apartment, and,
looking In the room, saw the children lying on the
bed. which was on nre. She threw a bucket of
water over them, grabbed one in each arm and.
calling her own two children to follow her. quickly
ran up the fire escape to the roof.
An alarm *vn» turned In. but because of delay in
the arrival of the engines the fire spread to th«
fourth and fifth floors, which were gutted. All
■ '•'•??,- k.i vp l' eT parl " tne house were forced to
, . ' v '">" > foot.
I h 'fin? is believed to havo be«-n caused by at coal
f»s6j I:i a stove. The damage was given as
premium of more than five cents. And to meet a desire for less ln
surance, especially In large families, we have a table with propor
tionate benefits for a weekly premium of three cents.
fhtr Adult tnbtes shoic <i» increase of benefits for tha same pr--
mivtH t;iK«rl strictly upon oui tables <>f mortality. At age t»n th*
Increase in 12 l 4 per cent, over our present Llf« table and nearly IS
per cent, over our Increasing Life and Endowment table. At age _•)
the Increasa Is over nine per cent, and over , 23 per cent., re
spectiv< at ape 30 the increase i« nearly six per cent., and -arty
20 per cent, respectively: at asr* 40 the increase la two per <^nt.
and over II per cent, respectively, and so on. And in comparing
thf«e tables with our present Whole Life tables tand with those
of most of the other Industrial companies) it must not be for
n::tn that these old tables provide for payment of premium
during the whole of life, while under our new tables payment of
premiums ceases at age 75.
We have Increased the immediate benefits under all of these
policies in accordance with the ruk- we made retroactive this year.
to half-b?nefits during the first six months and full benefits there
after.
We have introduced into all of these policies new features ln
the way if surrender values. Paid-up policies will b«» 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. The policies will be in new and at
tractive forms, with three pages Instead of two. in order to set
forth all of the concessions, making the rights of the policy-holders
co plain that any one will be able to tell what he is entitled to.
And the whole contract will be expressed in the policy, doing a.vay
entirely with the necessity of a copy of the application, using the
form ln this reipect for all policies which we adopted many years
ago for policies under $300.
Obpinabt Department.
One of the most striking results of the Armstrong Investigation
was the adoption of a provision restricting expenses for the first
year of the life of the policy And what is most interesting as well
as complimentary to the Metropolitan Is the fact, which appeared
in the newspaper discussion at the time of the adoption of the re
port and bills, that this restriction by law was Justified by tr« ex
perience of this Company in the matter of expense, as shown by
an analysis cf its annual reports. It Is 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 expense. ThKs necessitates a
reduction of commissions, but the reduction will be very much less
than that made necessary by the companies issuing participating
policies. This Company trill not issue after this year any other than
nor -part id pat ing policies. In fact, in the true sense of the term, we
have not Issued any other for nearly fifteen years: for. as we have
oft*-n explained, the Intermediate and Special Class policies were
baaed upon stock or a non-partlclpatlng loading, and the dividends
promised. If earned, were expected to be derived from the mor
tality. These pcllcles were entirely novel and we had little ex
perience to guide us. 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 substandard 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 Improvement in
mortality over the expected as should be actually experienced. As
participating policies are baaed upon a higher or so-called mutual
loading, out of which dividends aro expected to be earned, we
claim that our Intermediate and Special Class policies based upon
a stock loading were ln principle non-participating. All of our
other policies ln the Ordinary Department were by their terms non
participating. The law has Justified us in the principles -we adopted
fifteen years ago, and to-day the Armstrong laws and the similar
ones prepared for other States are a vindication of the Metkopoli
tan principles in which you have been trained. We have now an
experience of Intermediate and Special Class risks which enable us
to prepare non-participating tables. The tables of premiums as to
these policies hay© heretofore been completely readjusted. We think
you will find them most attractive.
We realize that we shall henceforth have more competition ln
non-participating policies. Other companies have announced their
purpose to restrict their issue to this form. We have therefore
thought it ln your interest as well as our own and in the interest
of the public, which is superior to both, to use a part of the reduc
tion of commission to effect some reduction of premium. N>w tables
have been prepared which we think will be attractive to our cus
tomers and which therefore will be profitable to you. In adjusting
these commissions we have thought It only Just to restore to th->
Superintendents an interest ln them which we were compelled to
withdraw a few years a?o and which you remember th» Tiff Tttial
dent promised at the time to restore when we should be able To ar
range It. And we have also recognized the good work of Assistant
Superintendents by giving them an interest in the work of their
A Regina Music Box Is a Christmas Investment
|T yields big returns because of the satisfaction and enjoyment it gives. It 3
* music is its own ; the kind that charms and holds all hearers. Each new
tune disc makes it a new gift. There is nothing more appropriate and more
acceptable than a Regina Music Box.
Victor Talking Machines, $17 to $500 Edison Phonographs, $10 to $60
Regina Player Pianos, $450 to $750 Regina Chime Clocks. $1 75 to $370
Our Broadway store is Christmas headquarters for musical gifts of the present
Open
E,vcnings
TKe only manufecturen of music boxes in America.
II V TROLLEY TO BOSTON
Permission Granted Neiv Haven
Road to Widen Roadbed.
Permission has been granted by the New Ro
ebelle Common Council aad the Board or Village
Trustees of Larchmont to <iiii>w the New Xork,
New Haven * Hartford Railroad to widen its
ro«<J.> 1 to accommodate eight tracks and to op
atmta a. trolley line DStWSB those two points,
completing the company's trolley circuit from the
Harlem River to Boston. The railroad made ap
plication on Tuesday to Mayor Clarke and the
oard of Aldermen and permission was granted
yesterday.
COLLECTOR OF CUSTOMS AT HAVANA.
Havana. Dec. 19. — Governor Magooii has ap
pointed Saturnlno Laatra Collector of Customs,
vice Manuel Despaigne, resigned. Senor Lastra
entered the customs service in 1898 and served
under Collector Tasker H. Bliss, and at the re
oeat intervention by the United States waa made
assistant collector. His appointment ia highly
approved In commercial circles and by politi
cians of all partita.
There Is only one case of yellow fever In Ha
vana and none In the Interior of the island.
Major J. R. Ktan, of the medical corps, is Uopo-
Regina instruoients ate sold on
the payment plan, if preferred.
We rrruiuiiivd CiIANT 9CVIO. const mctrd anwlsll.
to warn. Mor*,. Hit.. Shop., l^fu H^uiTV^^lSZ
nt. fl r , „, th- furnaoi*-- u »c th* SI'VMV
linn tn Sctio^* a cou r °° n u »* *^
nil ! ■ iniH»i;i VBI.E
IJU i KroNOMir.%l.
H'SK HIVIO
PKICEB, 0.V.. $1.13 $iMI
ZEE SEET ,JAS HEATER* «c
an P a Acin" al Dl3COUnt '-^■•TnUJ.,
>I'VIO HE.%T * UCUT CO
b«nt prcpairt. Tel. I«4»— riaxa.
Op-n Ever.ln ».
™the a k^ as r ber WUI WUnMS tb * • radlcatlo «
OFFERS STOCK TO TELEGRAPHERS.
The Postal Telegraph-Cabl* Company reo#m of
r«r*i preferred lOCk to it. u,l.grapb.r. to th»
- .-ra ing department In th« main ofllct at Na M
ioT W 7\ Tb ° * r WUI * «t*nA*4 to .11 <Z
'?-v, company.
•«. t aU-n t t°pLn W ur tSV^L?** - h *~ » a -«-
agents. We realize that the duties of Superintendents and Assistants
include the instruction and training of Industrial agents in the wcr<
of the Ordinary Department. We want all of nur amenta to be all
around Insurance men. Our Superintendents arl Assistants hart
Impn— up"n them nf* a dutj- the supervision. th» constant help
and encouragement and the education of their agents. We b»v%
made ir an interest as well as a duty.
Our new policies will be found nu>.«t attractive In form and m
more attractive ii? substance. They contain all of the advantage*)
and concessions which we can afford to giv* and which the. publto
hav> a right to expect. The surrender values will be found to bs
generous and take the optional forms of extended Insurance, paid
up insurance and ca.w'n. They are the standard forms of the 3f<sw
York Department, the work of experts which has legislative ap
proval. They are as plain to the- understanding as they can be
made. "We have discontinued many plans as unnecessary. "We shall
issue Ordinary Life. Limited Payment. Endowment and Term plans;
and we have applied for permission and hope to Issue in addltici
three plans which the public have stamped with their approval—
namely, th^ Optional Life or Endowment, under a new nasM, ta»
Modified Endowment with Life Option; the Guaranteed Dlvldiad,
also under a new and more descriptive name, the Guaranteed Ta.
creased Endowment; and the Reduced Premium Llfa under lta om»
name. Life with Reduced Premium after 20 Tears.
Tins Ysab, 1906. ,
Tou have started well. Last year, the year of fh* limiatTaallis^.
you did the largest business we had ever done. The first part of
this year the paralysis which Beemed. unreasonably and unneces
sarily, to have fallen upon the business in general, appeared to have
affected even — even more unreasonably and unnecessarCy.
Finding this to be the fact, the Vlco-President appealed to you ia
personal conferences ' with the Superintendents In llttlo groups all
over the country: pointed out to you the facts and conclusions of
the Armstrong inquiry and the results as embodied tn legislation:
showed you the" essential approval w« had received In our work fci
both departments, and asked you to respond to all this for the re
mainder of the year by making the best record you had ever oada.
This was in May and June. It would b« most ungrateful not fc>
make this public and general acknowledgment oi your response ta
the appeal, and on behalf of th» Vice-President I give to you hl3
personal thanks and add our official acknowledgments. The year
la not yet ended and we cannot therefore teU the whole story. But
for the months July to November, inclusive, compared with the «axa»
months of previous years:
You made the largest amount of Industrial tncreas* which t£s
Company ever made, except tn 1894 and 1903. •
The agents wrote the largest amount of Infisstrial bustnssß*
average per man. of any of the last ten years.
The average lncreasa per man was larger than for any og^ss)
past ten years.
The ratio of lapses was the third lowest for tsn years past.
The number of transferred accounts was the lowest for aega%
years, notwithstanding the larger force- of men with which we
started and the larger reduction In the force we have made this
HSM
The collections were the best in the fiitrtory of fJW CempcTwl
The death claims reached the lowest ratio for the last 23 yean
notwithstanding the increased average age of the policy-holders.
The special 9alary to agenta averaged the largest amount la the
last ten years; and yet we saved $100,000 In the total compared wtCi
last year.
The saving in total cost in these items alone, medical fees (be
cause of a reduction in number of applications). Assistants* salaries
and special salary, was at the rate of a million doUars a year.
We may add that the Pacific Coast kept up with the procession
by the remarkable feat of covering for the year the enormous lapss
caused by the earthquake and Is certain to do3e the year with a
handsome increase.
In the Ordinary Department September about eqoaOed 3»p6—
ber of last year, while October and November largely exceeded tbm
corresponding months of last year, and December promises to be a
record breaker!
And taking the last six months for comparison— June to No
vember, inclusive— you wrote more Ordinary than ever was written
by the Company in the corresponding months and exceeded 1903 by
over six millions and a half; and this it must be remembered by
more than 3,000 less men!
We are proud of this record and we are grateful to you far your
generous response. We cannot say more than to wish for you and
yours the happiest and most prosperous year of your lives ia 19071
Very sincerely yours.
John 9^ Hegeman,
PRESIDENT.
If you want to make yourself ••
economical Xmas present — •
At $13 and at $20 there are Bsf»
bers of frock coats and cutaway* *t
well as blue and black cheviot donM^
breasted suits which were innc&
higher.
Also among the mixture sack sa&
the usual shaking down of prices fcas
begun, making extra values at $15
and at specially for large ■■*
As for the bov —
Broadway
and 17th Street
There are extra values for him tco
all through the boy's suit stock
Rogers, Peft & Company
ThtM Broadway Stores.
23S 842 B»
at at «'
Warren st. 13th St. *'* *
are a JeHcate brss* «* ll .fjj
PRQTQ 6n °* starch - Xt 1 \2?55
rnu i u gooJ things oi USt *&* a •
PUFFS tclligent people neti
•Ul JJ Health Food Co.. 61 S& *■*•* i% "
Protein* is the life of the qOHTO
World. If bresd haa none it ia pltU ' w
worthless: if it has little it ' 3 n| |CC^
worth Uttlt. Highest protcid l »HU« '»
81 Mt Prospect Ay . Nswsrk, •
YALE CATALOGUING "BRA^^
Th« Yale library aatatMttlss h**» '^ftlcs**' B*'*8 *'*
colteettejr and catalogui"* of *****; wj6 b» "
and sdentlno subjects In not CB Z. vi l
private libraries ai N»w Harea. !• » *T Jlit *'
when the work 1» coajpletsd » w^l rU ,*■'
be abla to consult in prtr*M jsr»R»»
•»• not avallabl* ftUttwber*.

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