1
!i
DAILY CAPITA!, JQUKXAT, SALEM,
OREGON. FRII1AY, DKCEMUKIt 28, 1000.
3 5
OUR WATCHWORD: "first, last and all the ti
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, POR the People."
Review of 1 906 and Announcement for 1 907
To the Field Force.
GENTLEMEN:
It Is our custom to address you each year at the
uiuu ui uur twwiuui oiiiiuriiuunuciu s uonvontion
Usually this is held about the middlo of Jnnunrj
and tho topic or the BULLETIN
Annunl Statement of the Coninanv
Superintendents meet In convention
December, and obviously tho recor
tinf mnrlii lilt ntiil It urnnM 1o it
Bulletin No. 475.--New York, December 8th, 1906
our present Whole
not ho forgotten thnt
right to expect. The surrender vnluoa will ho found
to ho generous and take tho optional forum of ox-
rigm to expect, tub surronuor vniuoa win do round
to ho generous and take tho optional forms of ox
tended Incurnnco, paid-up lustirnnco and cash.
rnl ..... !.... ....... .I..-. I ...-...- ... l. n .--
iiu nuiuuimi iuruiB ui uiu .low iura wu
tho work of experts which has logtslatlvo
Thov nro nit nlnln In thn mwlnriilniiillni
an thoy can ho made. Wo huvo discontinued many
line to uio iirst six tnontns ami imi iioneius muromiur.
December, and obviously tho record of tho yenr is age at Issue. Compared with tho Whole Life tables We havo Introduced Into nil of thoo pollclos now
not, mnuo up, nnu u wouiu ue premature to sot Issued by other companies thoso hnvo niado nvcos- foaturos In tho way of Biirrondor values. Paid-up
forth the progress of tho Company in its business sary tho accumulation of an incronso of many mil- policies will he granted nftor threo yours Instead
and finances. Wo shall havo something vory pleas- lions of dollars In roservo. Unthinking person. r nve; oxtended Insurance will ho granted nfter
ant to say to you heforo wo close about what you come to tho conclusion that this piles up the wealth threo years at the option of the holder; and oa.h
havo nccompllBhed; hut our immediate object is to of the Company, forgetting that along with the In- surrenders will ho paid after ten years. Tlio poll-
Jiuvu uccuiuiibiii'u; out uur limuuuinic oujeci is 10
toll vnn nhmit otir nlnns for next vonr.
INDUSTRIAL DEPARTMENT.
You lmvo known from numerous addresses, both
oral nnd written, what our ambition has been for
years In the Industrial part of our bmlnets. You
will bonr us witness that our treatment of the
policy-holders has been ono of progressive liberali
ty over since tho present administration of the Com
pany bognn. Tho very first year of Its Incumbency
Pnid-up policies thoretoforo unknown to Indus
trial insurance in this country wore nnnounced;
nnd ovory year since then something has boon done
for Industrial policy-holders beyond nny promise
nuwlo In tho pollclos. Rulletln No. 195 set forth
thoso concessions and bounties up to its date nnd
slnco thon tho successive years havo been marked
by progressive gifts nnd bonoilts offord to policy
holders; nnd this year tho Company hna beon dis
bursing tho enormous sum of nbout two millions or
dollars in voluntary dividends upon non-participating
Industrial pollclos; bringing tho total amount
of unpronilsed dividends In twolvo years to about
ton millions of dollnrs to Industrial policy-holders
in tho form of dividends on promlums, dividends
on denth claims and incroasos of bonoilts unon e.-
,BWo havfbeen enabled to accomplish this work
nil these years by steady Improvemonts. in bualaw
methods, by steady extension of bus ncss terri
tory bv steady additions to Insuranco In forco, b
ShfulnS in "writing and taking care of bus -ness,
resulting In a decreasing! loath io Jocroal8
in innso rate, and decreasing exponso raw.
TnifC8onPS?m;raoements wo have nnnounced
tlonnto amount 80' '"o'ciisbursements for
Within tho last ew oanp our ui. k
death claims havo ( boon o am tlr uo J
odly loss In proportion to; Incomo an . nn m
monts in ratio of oxponsoj " hoji n JJ como
provoments, thnt wo thousnt ino toch.
innko n scientific rcsiirvej , so to spoa ,
nlcnl foaturos of tho J"n0J ; (, drnwn off Into
vesications Into our n ormut nn t ,,, The
various periods our oxiwrlonco 01 table are
mortality tables upon eh our r ot l8oo-
founded wore taken from tie ox
1S94. A comparison of tn w ,m8 ghown a
from tho experience of other jj the CHie 0f
steady Improvement In mortnii i. f ,.
children tho re.ul! : Is roall s nrtHM ,
stance, nso to next "'J"',. a table 1S00-1A05
shows '49.3 deaths per housam .a .
shows hut 30 9: age three ui 9 g nge t , 6
Improvomont. , t th0 time has come
Thoso facts convin" - - fltg foundM up
to construct new taW oi wfl 0 eonflrraad
our experience of 1 C 90 . h j an
In our c
from tho
than that
figures co.i .. -o
benotlts nrc "0-"on hB
i n voars. Doatns
birthday 49.3 reducea
-.-- -. fniir - i.fc " ". -as: n i . l . '" .
zs-Di?b VS4' ago twonty i" '" Tne other oio
ton 5.5 to '; nrty 19.3 to 14-3- ',,,. 0( i,one
15.7 to 11.1 : aBf.Sv involved In a Uble o
mont besides morw)ge As " n fau-
sasssr 0T-!-, ;.",&
of the year, three P ,)a,f ininions l906
saving of nearly one w atw? ,,-
Vo shall show o i . liy an iuu
! .K .WK p ''"'ur -
were iu" -
A hah an f naantn Mllnn Mm iMAKAndfl it 1 1 A 111 1 1 4 I fl M I
vtciiau ui awria I 1111s iiic itiLiUBr iv imuiiiiuti uhu
thnt the wealth of n conuintiy consist in Its ur-
tittitt ft t1 fMkmtilaf a nvarlnnlrliiiT tlio 1
plans na unneceeaary. Wo Rhnll Issuu Ordinary
Ltto, Limited Payment, Kndowtnont and Term
plans: nnd wo hnvo applied for permission add hope
to Issuo In addition threo plans which tho public
hnvo stnmpod with their approval nntnoly, the
Optional Ltfo or Kudowment, under n now name,
tho Modified Kudowinunt with Life Option; tho
Ouitrnntped Dividend, also undor n new and more
I artf til I d iiiiiiiii t ft n llllnontti i1 f mtitiut it njl tfl.t ilrk.
tntnt; nnd U10 Hmhioml Proiuimn Ltfo uudor It'
....... ......... 1 if- ...ii. iia.i....i ttw..i..i..... nH ii
table of wi .1 - next
pcrthousan"-Tlire 32 to
13.2: agefiwi".1" . , ty
tiilkiitlMiM it tli a nvrAli ff iirnniti I
policy holders who contributed to It. Public opin
ion has changed and end now cares more for dth
benflts than onrlowmenH. We are In buslneM to
please the nubile. We have a wod deal of evi
dence that Ordinary Life and Limited Payment Llfo
contracts are thought preferable to KndowmenU.
We have resolved therefore to discontinue our In
creasing Life nnd lCndowment pollclos, which were
detlgnod to meet tho public domnnd formerly ox
luting, nnd which were, we believe, the first tables
evor roally scientifically constructed for Industrial
.... A.. ,,nur InilllRtrlnl UOllcloS Will
thoreforo be Whole Life contracts. Hut wo
think thnt as to thoso thoro aro slsns of n
belief on the part of the public that l;on0'fr:
mlum ought to cease with old age. It Is hard ror
peoplo to seo what to any mathematician s self
evldent that In life Insurance the companies are
enabled to Jay tho policies In full on lives of those
who dlo soon after Insurance, only by tho
complaints of the 'X'casBn complaint that
to that age. And to ".. , , anaw.r
".""'I''onwrshall have voluntarily, a. matter
that In 1900 V,,mo 7no claims as Endowments on
of grace, paid " Wllole life on persons reaching
policies lisuod as N ho e 1.1 1 i or ()yer
RBe SO after paying prem ''8 ,r tnwM! four
"constructing n .table of ,''3U0 K.'lowment.:
principles Who ;U Life ,anfMd f our eld:
,ur recent roorlallt) l or ei c ,,. and
a loading proportion 1 to oi ,r "n(te'r age if,-
the payment of pre lums cejsj nfc ln th- ,.
ot UP Mu. It . ',c?;Jt. i,l. uiHin tlill-
SUi ami this we m.ot .-! tolir aw fr
rM, two at entry t..U
i . : " v .i.. ho.
ift .1 age three at etry -- --.j ,, .
ad the benefit age four ai 7'niton of tne
18 $16. ane: m, u-. - - ,,,, hare uen
wldltlonal years or " rl'1r aK, when death
paid by those entering at ear thi ,
Untrs at the ",.;; n'u that hereafter no
lnereas of benefi for " 2 Infantile table- for
iHillcy will e Uenwl udll" . iiis. And to
foil prenil-- - Sft iStallr l larg
,nt a desire for le -,u"h proportionate beii
mB00rr Andult table "SJpir WW
the same premium bMd jrieuj , ,
flf mortality. At age ten t 'J mrty is er
wnt over our XJb Life Bwwlt
mt over our !" ' , ta over nla eBt
Uble. At age SO the ;, ? at ag 10 the In
Hover 21 P" wjrt rj -JJ J f.jy SJ0 t
rreiuifc i" nr,y 8,x f ,h. irreae I two per f-nt
rl-ctlvely; at age 4 7, d k, on. And
and over 13 Pr cenv '"'
lr.rMeu.T,V nl'wam' it tract u"wo?u wlthtKe. went; and the lledncod Premluin Llfo tin lor IU
the couoewlom. making the rights of tlie policy- " viavn mnn
hoi.lor. . ..1.1.. thnt anv nn will be nble to tell u,s '"Alt, 1U0U.
what he Is entitle,! to. And the whole contract will
be expressed lu the pulley, doing away entirely
ultl. i hA nuuullv (if y mm cif lllK KHnllCatlOU.
with the necessity of a copy or the application,
using the form In this respect for all pollelee whUMi
we adopted many year ago for policies, under J00
ORDINARY DKPAUTMBNT.
One of the moat etrlkln- results of tho Arm
strong lurwMKStlon was the adoption of a provision
restricting expense for the first year of the life of
fie polUy. And :.at Is uiott Interesting as well
tut complimentary to the MUTHOPOL1TAN Is the
fact, whU : apurfl lu the newspaper dlseuieilon
r.t t':e time of the adoption of the report and bills,
thnt this restriction by law was Justified by the
experience of this Company In the matter of ex
pense as shown by an analysis of lie annual reports.
It Is true that this Company kept Its expenses al
most within the limit prescribed by the now stnt
uto. Hut the statute Is u ponal one and we i-annot
run any risk of over-running the limit of expense.
This necessitates a reduction of commissions, but
tho reduction will be vory much loss than that made
nocossnry by the compnnloa Issuing participating
policies. TbH Company will not Issue after this
yoar any other than non-pnrllclpntlng policies. In
fact, in the truo souse of tho term wo havo not Is
Biiod any othor for nearly fifteen yonrs; for. as wo
havo often explained, the Intermediate and Special
ninnH nnllcles were based upon stock or a non-par-
.. tniniiiuf mill tho dividends promised, u
Oenllemon. wo are entitled (o wiv that the Arm
strong lnveeltKutlon was n vlndleatlon of tho nunh
ods mid practice of the MKTIIOPOLITAN L1K1-:.
The Armstrong laws aro In many respvota u distinct
reeagnltlor of the work we hnvo done together
theee many years. 3se that you appreciate this tact
to the utmost. Shaw that vou do by making tho
year 190T an unexampled year for tho Issue ot
more policies, for larger lusiirnnue, for greater
gala, for leas lapses and nnt-takens, at a lens ox
pens, Ht a ..-renter return to policy-holders thnn
you hav evT done. Llvo up Io your bleMlnx!
Show that yiiti apnreclnte the reward which the
Legislature has conferred upon your good work of
the past! Make 1U07 the greatest Iiocrum tho best
year In the Company's history!
Vou have started well. Last year, tho yoar of
the Investigation, you did tho largest huslnes wo
had ever done. Tho first part of this year the
paralysis whlrh med, unreasonably and unneces
sarily, to hare fallen upon the business In general,
appeared tu linvu affected oven you even more un
reasonable and imneceasnrlly. Finding this to bo
the fact, the Vice President appealed to you In
,.... .ii rmifariinoaM with ih n HiiuorlntundcnU lu
little groups all over tho country; pnlnlsd out to
you the facts nnd conclusions of tho Armstrong In
quiry nnd tho rosults us embodied In legislation!
ui.nu-..i vnn tho Miiontlnl approval we had rvceived
.,,kI in imiii iiuniirLmuiits. nnd asked you to
mortality .atid w-re desld for .n.
wno con u iiimrii i" !" "" -.-. - -
Drenilmunie: and tho mortality of such a class
coul 1 n I foretold. The Special Claw policies
woe for sub-standard risk- as to which the mortal
lly could not be accurately predicted, what we
under ook to do wa Io pay back to the poll cy
ders the gain from such Improvement In mortal
ty over the ex ectel as should be actually exper
wieed As participating policies are baswl upon a
5 or mUalleil mutual loading out of w h lei
d vldeads are xctel to be earned, we rlaln that
our im nwllate and Special Claes policies baswl
mwn Ts oek load ng were In principle non-partlcl.
aTlng All of our other potlclee In the Ordinary
neiirunent were by their terms non-jKmlclpa ling.
ThLlnw has Justified us In the principle we adop -
3d Si. S. ' t"? j:;ri;rt:;alKJna
rrr-oxwrgpSss
oomiuSrin -HSff pHSlSTo re? rfi
co.niM.nle. fiMTrn thought
tbetr ' " i"lii ,a our owh aad In the
,t ' ,JU?,"S,eh I -ul)rlor to both.
Inters f t JSdS on of commlasleti to of
to use a part of the ,""",,,11,, Nw tablea havo
fot s.e rlctn of prem "ii New (fl
been praoared wh lab e 1 1 ; , flt.
our customer- "J J" " w,minliloB. we
nW ? y, i Wst u. oetor. to the Buperln
liHve thought It only J"""' n".,eh we wero im
tead.au an 1' 'fj'rs ago aad which you
"lM ,VibevK vSuB JromhHMl at the time
remember the lee trm ' f ,, to arran It.
to roetore when we should be a Qf
And we have also rewiwn ,, aB mter-
Aaetataat ""'""J5-" aints We realise that
mi la the work of tneir """"., vaMiauats In-
6 dVtte. of ,'?dlr!SaH? of UdSetrlal
ede lb. Itrur,'VthioSaary Department.
aKMu la the work ot J, "-i.Viind lasaranow
W. waat all oar a. u J o be a T u ,,HVe ,,.
m.. 0.ri.V.rlMendwt.;
poal upoa them JJLiaiit .imI the ailuea.
aftWiS. r"".1s",.:S,S
. "n afford u. iclv. ..J We). It. 1'ut.llo lie
U WIJUI11 U" iiiun """
grntoful not to innko this public nnu general m
knowlodgemont of your response to tho uppual, and
on behalf of tho Vice President I give to you his
i .1....1,- .,..,1 n.M mip nftlnlnl nckuowledKO-
iuuiitH. Tho vnar Is not yet ended nnd we cniinnt
thereforo tell tho whole story. Hut for tho months
July to November, Inclusive, compared with the
Mm month of previous years: ,1,.,ri11j
Vou made tho largest amount of Industrial
iHrreaM which the Company ever made, exeept In
Tlie'agenu'wrote the largest amount el Indus
trial buslnsae. average per man, of nny of the lust
tUTnenaverage Inoronse per man was larger than
ryr!luKff.ti:nw tho third lowest for ten
rrhoimnuiiiher of transferred Recounts .was tho
lowi for e Igl.t years, notwithstanding he nrger
f iioi will! which we started Jo larger
lluctlon in the force we hHe msd e HI J
The collations were the best lu the history oi
lhThe dWclalm. reached th- lowest ratio for the
Mt ,,r -Ht withstanding the Increase nvor
Rue nae of the policy-holders. . ,
"Wspeelal salary to agents ""-' "sw
-rsffl'Saa? ass's saaras
handsome Increase. ,,,,. Betit.mber aboal
in the Ordinary rX Jhlle Oatober and
quailed Beptamlisr '' .''W, ' LrrWoallag
XoviHaher largely weJriM oerrew fcfl
Months of last rr. and Deetmiwr p".
ft AnWsS'Si ' ' WOBlh for "!",,-,, oi
June Novamber laelustve you wrote mere Or
ihary than Ter was written by the tomHW
t- BarreeiMtadlag moatbs awl exell 16
ntTxml.l a hall: and Ibis must be r
tillered by wr. than 3000 Ish men?
STiffsrMi-rsss year ef your Uvea In l7!
anil hmh pr v anert.ly yours.
JOHN R. HEGEMAN
aBaeajetkSJiev'r
HHHIDUNT
i
' - unsiBinsTSSSii -
IKVESTlOATlXfl HAnilBIAX
. .nPLh Only HoldlnR
Alleged Thnt O. C. 1
Company
oc The Inter
Now York. Dec. - h,oh
Btate commerce commi".. com. Soutbern Pactnc a-- Jft0B
Mr. C. Knapp is c. - cd t0 nppear u - a,Bg ht
... . ivfl n grw" . Thn
Vu - , .MflBQaDOe.
s .-csr "24 ?
" . h was purchased by the nam
roan Interest-. l S h the
aDt eV,drrTa the "nQUlry. Mr B.
merger during of otbor
H. Harriman - paoIflc and
officials 'l"Bc;avt! been summon
Soutbern Pae,c, the commlwloa
menced hero today an ad
working of the IlJjrWuw
system. B It li iuted. eol
aad Soveranco bave , u Jirr.
lected evidence to 8h0 coinb,natlons
" rsSotu,on and ;
formed to stifle co u stuy?e8ant
la alao stated that Mr.
to cive inior-v:- MM..nee. The
merger, and a MMldw,
investigation sur0 to be
ab,e comment and u
watched with latere. tfwn
of tho counvw b t , cnor
beforo tho commission w
-,i t,t eidtmce had been
Tb InveJTgatloa to looked upon by
railroad men a. of supreme linport
MeTfor. should the evidence sus
Sn ' th. charge. It will the
iompleto deetruetlon of Harrlman .
S of year. In gathering under hi.
St on the other band. If the com
.oaude that the crge. are
"ot ausuined. It will mark bin
the greatest railroad genius of his
! It I admitted on all bands that
MSre' Harrlman ha. mado remark.Mj
progress In the railway world and
though bis method, havo bn ad
versely entitled, he has permitted
no consideration whatever to swerve
him from his fleirwii
llsh the greatest cob.oiuu .
railroad, known In the world. He
...i- a aao is lies of road,
BOW ninuw' "" .
ropresenting a capltaiuatlon of V
.....u fl-i.i. Th interstate com-
mlMlon. after hearing numerous com-
plaint and after careiui.y .-. -o
the matter, deeldvd to hold the
I,,.! when legal adrieo wu W
piled by high government officials.
who.utc4thatHarr,maalntho
of (be Union Pdfl6
iatod the Sherman anti-trust law, but
alKi the wter.tate cornmerte Uw and
the statut against )Bplrr ;
. in tu. ndrlued to show thai
Um,er vei.s "
the Oregou Bhort Mae Hallway eom
p.., ha. been by Mr Harrlman
as a holding company, awl "
notaoamiltoroftheUnleuPaoiO..
It will be .tatea m """",'-" .
' . .- i.m Hiamiard OH a-
Ilreit. have been using the holdlag
eomaany a. a mere aio.a .u j
their violation oi me - "":-
lBg all competition between the
Vum Paelfia .-" ;,",
actual coiap"" "- -
i.w Abundant evtaeare it Mtiai
win l eivea to show that Mr Hu
. (.! ..uu.lalM haVM mat!
HUN " .-..-.---. .
ml la stiniag all competition btw
the two rau. Ara. mw
. .... tu five evidence on
uu..i ts Mr. J. C. 8tubbs, dlr
.. ...! aatl fuinlrol Of the
aM. who. It I stand, dictated r!
and dUtrlbuted trmo nunnvw
ui.i.h t.u rAAiven a saiary wi t
wuv. - .--.- - .
000 ft year. A very largo hw
........ win tiA kxaffilncil for to
. . A l. I. .vntut th&t Ik m
ww ' "?-,: 7u-ii
piuulon win noi uc "-"-
submit its repori v ""
at least.
--; . . "iy.mr 1 1 nn . w.i.jii r1 n
t
i