404 BUSINESS OF LIFE INSURANCE

Scales of dividends, actually paid or allowed the year previous, on the different classes of policies issued, for several sample ages and for all durations, and statements showing the accumulations per $1,000 under different forms of deferred dividend policies.

In the management of mutual companies the prohibition of proxy voting, and the introduction of direct voting by mail, or in local meetings by secret ballot.

A provision permitting the retirement of capital stock in all companies operating on the mutual or participating plan by the payment of just compensation.

Other things of minor moment could be suggested, but the foregoing amendments to existing laws and practices would render most of the things nowadays complained of impossible or highly improbable, and would also enable the policyholders to judge discerningly of companies and policies. In oth7r words, the best thing to secure both soundness and the largest returns to policyholders is what was most warmly recommended by Emory McClintock, actuary of the Mutual Life Insurance Company of New York, at the National Convention of Insurance Commissioners in 1898:

FREEDOM- AND PUBLICITY.

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