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employed has failed, is about as follows : The gross premiums were made by adding one-third to the net premium as a contingency and reserve provision, and then $4 per $1,000 insured for expenses. This was on renewal premiums ; the first year the margins were all available for expenses. Savings in mortuary cost were to be apportioned at the end of each year in reduction of the nett rear's premiums. The premiums were to advance each year to the premiums at the attained ages. At the end of ten-rear periods the unused reserve was also to be applied to reduce subsequent premiums. In practice the dividends from mortality savings were at first large and served to disguise the increase in rates of premium; and the reserve provision, together with this fact, enabled uninformed and unscrupulous agents to represent that premiums would not increase. When, under the combined influence of the wearing off of fresh selection and of the advancing premiums, the rates needed to be pretty- sharply increased, the protests of agents and defections of policy holders caused the company to so far abandon the original plan as to employ the reserve portion to offset the increase in the one-year term premiums and to return the remainder in in-creased dividends to reduce current premiums.

Thus, it will be seen, the pure natural premium, or one-rear renewable term plan, sold for what it was and then rigidly adhered to, did not get a fair trial, in spite of the renowned actuary's good intentions. The same company (lid offer a non-participating, pure natural premium plan at low rates and in two forms, viz.: one with the amount of insurance fitted and the premiums increasing and one with the amount of the pre-