Insurance in Connecticut
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In our eReader you can find the full English version of the book. Read Insurance in Connecticut Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Insurance in Connecticut
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Even the savings banks of New England and of our older states, though placed by law under severe restraint and strict supervision, sustained heavy losses from shrinkage of securi- ties, and the strongest were forced to reduce the rate of dividend from six to four per cent, a year. Some failed. Some pulled through by scaling their liabilities. As prices soared skyward during the outpour of inconvertible paper currency giving to business of all kinds a delusive appearance of prosperity, so they s...ank again toward the cold bed-rock of reality, when the financial drunk came slowly to an end.
The Phoenix suffered not only from general causes, but from the payment of excessive dividends, or return premiums to policy-holders. For a long period these were fixed at thirty-three per cent, on the temperance and fifty per cent, on the other tables. Managers sought to win business by giving patrons larger returns than their rivals. At times the strife became fairly frenzied. When pushed to extremes the policy took away the main resource for making good the general shrinkage of prices that fell upon all interests, and often from unexpected quarters.
What to read after Insurance in Connecticut?
You can find similar books in the "Read Also" column, or choose other free books by P H Patrick Henry Woodward to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Even the savings banks of New England and of our older states, though placed by law under severe restraint and strict supervision, sustained heavy losses from shrinkage of securi- ties, and the strongest were forced to reduce the rate of dividend from six to four per cent, a year. Some failed. Some pulled through by scaling their liabilities. As prices soared skyward during the outpour of inconvertible paper currency giving to business of all kinds a delusive appearance of prosperity, so they s...ank again toward the cold bed-rock of reality, when the financial drunk came slowly to an end.
The Phoenix suffered not only from general causes, but from the payment of excessive dividends, or return premiums to policy-holders. For a long period these were fixed at thirty-three per cent, on the temperance and fifty per cent, on the other tables. Managers sought to win business by giving patrons larger returns than their rivals. At times the strife became fairly frenzied. When pushed to extremes the policy took away the main resource for making good the general shrinkage of prices that fell upon all interests, and often from unexpected quarters.
What to read after Insurance in Connecticut?
You can find similar books in the "Read Also" column, or choose other free books by P H Patrick Henry Woodward to read onlineMoreLess
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