Insurance Solicitor from Topeka, Kansas • 3

INSURANCE SOLICITOR AT AGE SIXTEEN. Mr. Rodney Sacket of Berlin, Wis purchased a single payment 10 year endowment 10-year tontine for in 1.884, No. 128,738, He was then only sixteen years old, the single premium being $801,23. At maturity of the policy, Aug.

1, 1891, the company paid him Face of Policy $1,000.00 Ten years'surphvs 250. GO Total paid by company Single premium paid by assured 801.23 vestment with Trust Company deposit: In case of death 1st year Endowm't 425.00 19 years Com. Int. thereon at ifo 470.47 19 donations, $20 each, imp'd at if0 575.56 'Total cash at age 20 $1, 471.03 Total cash in Trust Co. G30.31 In case of death 5th year Endowm't! Additions bought by dividends 20.2(5 15 years Com.

Int. on above at ifc 301.47 15 donations, $20 each, imp'd 416.50 Total cash at age 20 $1,229.23 Total cash in Trust Co. only 030.31 In case of death 10 th year Endowm'tf 425.00 Additions bought by dividends 83.30 10 years Cora. Int. on above at 243.98 10 donations, $20 each, imp'd at i 249.72 Totalash at age 0 $1,002.00 Total cash in Trust Co.

only. G30.31 In case of death 15th yr. Additions bought by dividends 140.76 5 years Com. Int. on above at 4..

122.77 5 donations, $20 each, imp'd at i 112.06 Total cash at age 20 $801.19 Total cash in Trust Co. only 030.31 Net gain besides insurance 449.32 The above is $6.21 better than a A Compound interest investment, without considering the additional value of the insurance. A MINISTER'S EXPERIENCE. Rev. James L.

Hudson, Deerfield, took out a 25-year endowment Aug. 17, 1869 at age 25. His annual premium was $36.97, which amount he paid each year in full, permitting the dividends to purchase additions to his policy. At maturity of the policy, Aug. 17 1894, the company paid $627.16 Endowment and additions in cash at end of 20 years Face of policy Dividend additions 617.76 Total paid by company $1,617.76 Premiums paid by assured 924.25 Net gain to insured, besides 25 q.

am R1 years Mr Hudson had returned to him all premiums paid, with $16.52 more than i compound interest. THE MUTUAL RESERVE FUND. The Sup' of Ins. cf New York State recently completed his examination of the above named Association. He has published his official report.

It is not complimentary. The Association has "banked" on its reserve fund, made it a part of its very name, advertised it broadcast as its- especial bulwark of safety. The report shows it upa9a "broken reed" in more ways than one. The 25 of net assessments, required by the constitution to be added to the reserve fund, and so advertised, has not been so added since January, 1889. Why? To have so added 25 would have compelled an increase in the assessment rate, the very thing the reserve fund is claimed to prevent.

After paying the death claims of 1894, only of the net assessments remained to be carried to the Keserve Fund. To have added 25 would have increased the assessment rate over one-fifth. Bonds, representing each policy's share of the reserve fund, are re quired by the Constitution to be issued at end of each five years. These bonds were issued only on poli- cies dated in 1881 and 1882. The I Legal Counsel of the Association claims they are not liable for suchi bonds, since 1882, because there may be no Reserve fund to meet them at maturity.

During 1893 and 1894 the Association compromised $602,682 of its death claims by paying $251,310. In addition, claims to the amount of $240,234 were contested. The compromised and contested claims exceed 14 of total claims paid. We will say more in the future. MR.

ISAAC S.SMYTH, of Philadelphia. To Mr. Isaac S. Smyth, of the well-known firm of Young, Smyth, Field policy No. 125,321 of the Northwestern, was issued in 1884.

It was a Semi-Tontine policy for $5,000, the annual premium being $273.30. Its 10-year Tontine term expired last year, when the following among other options were offered in settlement: 1. Surplus in cash $1,129.30 2. Or full paid addition 1,776.00 Had Mr. Smyth taken, at the same date, an exactly similar policy in the Equitable Life of New York, annual premium, $271.55, the corresponding options offered by that company, would have been as follows 1 1.

Surplus in cash 789.70 2. Or full paid addition 1,254.00 THAT BABY. We quote the following from a late issue of the St. Louis Republic: "The nucleus of a fortune, amounting to $079.17, will be awaiting Sherman K. Jen-nelle, aged two months, upon his arriving at the age of twenty-one years, The accumulation of this tidy sum was the carrying out of a bright and novel idea of an Eastern lady after whom the child was named." The article is too long to quote in full, suffice it to sav that the "Eas-tern lady" had presented to "Baby-Sherman" a twenty dollar bill, which the "proud Papa," following the donor's instructions, had deposited to the credit of Baby, in the Miss.

Valley Trust presumably at 4.f0 interest. It is understood that the donor proposes adding thereto a similar sum a birthday gift annually, the sum total, with interest, footing up above $679.17 in 21 years. We agree that the above 'is a "novel" idea, but we see nothing at all "bright" about it. Said Eastern lady is not a Hetty Green in finance by any means. And it is further dent that she knew nothing about the Northwestern Mutual Life Ins.

Co. Deducting $20.00 and one year's interest, we reduce above $679.17 to $630.31, qr from 21 to a 20 year investment. Then, supposing said "proud Papa" to be 30 years of age, we find said $20.00 or $20.02 to be exact will pay for $425 insurance in the Northwestern on the 20 year endowment plan. In 1873 at age 30 the Northwestern issued policy No. 73,841 to Mr.

James F. Mullen, of Boston, Mass. It was a 20-year Endowment for $5,000 and matured in 1893. AH premiums, except one, were paid in full, dividends having been used to purchase additions payable with the policy, either at death or at maturity. There are 18 chances in the 100 that a man aged 30 will die before reaching age 50! Let us suppose said $20.00 to be invested annually in a 20 year endowment while the father lived; in case of his death during the 20 year term, then and thereafter to be deposited in the Trust Co.

as originally intended the proceeds of the endowment, in case of death, to be similarly invested. Reducing above $5,000 endowment to the basis of $425, we will calculate the "fortune" of "Baby Sherman" 20 years hence, comparing insurance in NO. 2.205. In 1862 at age 41 above number was issued to Mr. Adolf Sauerhering cf May ville, Wis.

It was an Ordinary Life policy for $1,000, annual premium, $32.86. From 1864 to 1872 inclusive, cash dividends were taken, thereafter the dividends were used' to purchase additions. Mr. S. died a year ago, Twenty deposits in Trust Co.

and 1 interest, at end of 20 years The last of above comparisons simply contrasts endowment insurance and Savings Earth investments. Had all dividends been used to purchase additions, the proceeds of the endow ment would have exceeded the returns of the Savings Bank or Trust Co. Besides such cash excess, the insurance protection, averaging $526, is a very valuable addition to the endowment contract, especially when we remember that but 82 out of the 100 insuring at age 30 reach age 50. And further, could the policy have been issued on the present popular Semi-Tontine plan of the Northwestern, the proceeds of the endowment would exceed the returns of the Savings Bank still more largely, (See "Will it be realized?" elsewhere in to-day's issue.) HOW IT PAYS. Mr.

John L. Merriam, of St. Paul, insured in 1867 at age 42 for $10,000 in the Northwestern. His annual premium, payable for ten years only, was $600.30. From 1871 to 1880 inclusive he took his dividends in cash; thereafter he used them to purchase additions.

In January of this year he died, when the company paid his Estate when his estate received Face of the policy $1,000 Additions bought by dividends 772.00 Post mortem dividend 31.23 Total received from Company $1,803.23 Premiums paid by assured 970.75 Gain on a $1,000 policy $832.48 Ordinary Life policy No. 1,036, recently paid by the Northwestern, returned $253 to the Estate for each $100 paid in premiums by assured. It was issued 1861, and its post mortem dividend was 99 cents more than the annual premium paid. If the $5,000 Ordinary Life policy of Hon. Calvin E.

Pratt, cf the N. Y. State Supreme Court, were to become a claim this year, it would be worth $7,701, besides postmortem dividend. It was issued in 1878. The face of the $10,000.00 Dividend additions 3,045.00 Post-mortem dividend 147.93 Total paid by company $13,192.93 Net premium paid by assured 4,197.80 Gain on a $10,000 $8,995.13 Policy No.

3,904, issued by the Northwestern in 1863, was recently settled. Original amount, $2,000. Amount paid to the heirs, $4,101.49. Besides affording 28 years protection, the company returns more than $3.00 to the Estate for each dollar paid by assured..