Page Eleven 



iii(li('at(* is lUM'c^ssary and so inuch additioiuil in ovdvv to l)o 

 safe; then if all is not iis(h1, we will I'oturn to eveiy one his 

 shan* of tlu^ unused portion of the premium collected.' 



"The non-participatinii; company propoeition is that the 

 stockholdei's sa^' to the policy-holders: 'We will furnish you 

 with insula nee ])rotection for such and such a premium; this 

 is pureh' a connnercial proposition; we believe the premium 

 we charge will be sufficient to enable us to pay all the benefits 

 promised in the pohcy and return to us a reasonable profit 

 on our investment, but we have subscribed and we bind our- 

 selves to carry out Our contracts, even if the premiums prove 

 to be insufficient.'" 



The Connnittee on Group Insurance consists of Mr. 

 Pindar and Mr. Beers. Employees interested in the matter 

 are invited to consult them for further details. 



It is requested that employees fill out the enclosed form 

 and send it to Mr. Pindar. 



