Vou. VII. No. 3.
REGISTRATION FIGURES,
An Academic Loss of Fifty-Five—
Slight Scientific Gain.
It has not yet been possible to learn
the exact figures of the attendance at
the different departments of the Uni-
versity for the college year . 1897-8.
Registration of the incoming Aca-
demic class up to date shows a total of
300, a falling off of 55 from last -year.
This may be changed a few one, way or
the other in the final figures. In the
Scientific School 183 men have regis-
tered for the Freshman class and it is
believed that this number will be in-
creased slightly. A gain is shown here
of thirteen over the .Class. of. Ninety-
Nine. :
DR. B. W. BACON,
Who is now Bingham Professor of New Testa-
ment Criticism and Interpretation.
The changes in the upper classes are
slight in both departments. Ten men
were dropped from the Freshman Aca-
demic class in the final examinations
last June, but the loss has been made
good by additions to the Junior and
Senior classes.
The Law School entering class is
shown to be one smaller than that of
last year according to present figures,
although it is very probable the com-
pleted figures will show a slight gain.
As the Medical School year does not
begin till Thursday, October 7th, noth- .
ing is obtainable, the registration hav-
ing but just begun. |
The attendance at the Musical De-
partment cannot be ascertained with
any degree of accuracy till recitations
begin.
>
Theological School Notes.
At the Divinity. School the opening
address of the year was by Professor
E. L. Curtis on “The Old and the New
in Old Testament Study.”
The attendance shows a slight falling
off, due partly to the fact that it was
deemed best to reject some applicants
for deficiency in scholarship and for
other reasons. |
The entering class numbers about 30.
The middle class is reduced to 21, sev-
eral having staid out because of ill
health and others to preach for a year.
Six new men enter the Senior class,
which numbers 30. There will be to
in the Graduate class. Of last ~ear’s
graduates, Mesrs. G. L. Schaeffer, W.
io: Page, -AcoM:> Hall, P.: Ae sfohnson
and C. S. Macfarland return for gradu-
ate work. There are six resident licen-
tiates. Several of the graduate stu-
dents are studying for the University -
degree of Ph.D.
In the entering class there is one
Japanese and one Armenian. There
are two Scotchmen in the Senior class.
Of the Junior class, Yale College
sends 6, Colorado College 3 and Am-
herst 5. Other colleges represented
are: Williams, New York University,
Oberlin, University of Toronto and
Johns Hopkins.
Special lectures announced for the
year are: |
President W. J. Tucker of Dart-
mouth, who will deliver the Lyman
Beecher course.
Professor John Bascom of Williams,
on “The Recast of Faith.”
Dr. George W. Knox, on “The In-
fluence of Eastern Thought upon West-
ern Theology.”
Archdeacon C. C. Tiffany, whose
subject is to be announced. :
It is also expected that Professor
Garman of Amherst will lecture during
the year.
In addition to these will be the
Leonard Bacon Club course.
The rule making the entrance re-
quirement more strict and excluding all
but A.B. college men, which has been
in force for two years, has resulted in
a class of men of higher scholarship.
———_++
The Scientific School Semi-
Centennial,
The first thing on the program for
the semi-centennial of the Sheffield
Scientific School, October 28, is a
- meeting of the alumni in North Shef-
field Hall at 10 a.m. Although the
invitations are only just being issued,
the Committee are sure of a very rep-.
resentative gathering of the graduates
of this Department. Prof. Barker of
the University of Pennsylvania will
preside.
The College Street Hall will proba-
bly be rather small for the afternoon
meeting, which will be addressed by
Pres. D. C. Gilman of Johns’ Hopkins
University. It will, however, seat
comfortably five hundred people, and
arrangements will be made so_ that
those specially interested, like — the
alumni of the School, will have an op-
portunity to hear President Gilman.
The reception at 4.30 P.M. in Win-_
chester Hall is being very carefully
arranged for, so as to avoid a crush.
The Hall will be very tastefully pre-
pared, and this part of the program will
be one of the pleasantest things of the
day. 3
It is possible that some alumni of
the School did not secure invitations.
This is only because of the changes in
address on the part of many since the
last records were made up. The Com-
mittee wish it very distinctly stated
that all the alumni of the School are
very cordially invited to these exer-
cises.
ee ee
Academic Freshmen Win.
The wrestling contests between the
Sophomores and Freshmen of the Aca-
demic department were held, as usual,’
on the night before the term opened, in
the Hopkins Grammar School lot. The
victorious Freshman in their classes
were:—Middleweight, Thomas; heavy-
weight, Cadwalader. The lightweight
contest was won by Bartlett, a Sopho-
more. Cadwalader had an especially
easy time in his event.
NEW HAVEN, CONN., THURSDAY, OCTOBER 7, 1897.
Prick Tren Cents.
INSTRUCTION IN INSURANCE,
Whis Teaching Strongly Urged upon
the Yale Faculty.—The Reasons
for it.
It is not generally known that a
strong effort was made some time ago
to institute at Yale a regular course in
the study of insurance. It was felt by
those who are interested in this work
that it was not only justified but was
called for, by the enormity of the in-
surance transactions of to-day and the
peculiar character of this financial
work, by the direct interest of every
individual in the subject of insurance,
and, perhaps of more importance than
all, the very wide field now opened by
insurance for the employment and the
services of the best educated men of
the country.
Dr. Ward, the Vice-President of the
Prudential Insurance Co. of America,
was very largely interested in this move-
ment. He enlisted the co-operation of
several of the larger companies, who
are able to promise to Yale a yearly
subscription that would defray the cost
of instruction in this line, and would
also provide a series of lectures by the
best insurance men of the country.
The matter was considered by Yale’s
officers, who finally told Dr. Ward
that it did not seem feasible to in-
stitute such a course until a fund
had been established to guarantee its
permanence as a part of the educa-
tional system at Yale. The uncertain-
ty of yearly subscriptions, in other
words, was given as a reason for de-
clining the proposition at present.
The facts of the matter have been
more or less talked about by Yale’s
friends whose interests naturally lie in
this direction, and very much regret
has been expressed that Yale did not
see an opportunity of adding in this
way to her curriculum. Some of the
facts brought forward in support of
the proposition by Dr. Ward cover the
history of insurance in this country for
the years from 1875 to 1896. These
are reproduced below. The time chos-
en there is a very effective one for
showing the tremendous growth of
insurance in. latter days. The brief
earlier history of insurance, before this
date, is added to this by the courtesy
of Mr. Price, Yale ’94, who is con-
nected with the Literary Department
of the Mutual Life of New York.
The terms used in this review are
undoubtedly familiar to most of our
readers. It may not be out of place,
however, to say that the word “ordi-
nary” is used to describe the usual
forms of insurance given by what are
known as the “old-line companies.”
The term ‘industrial insurance” covers
a comparatively new field of insurance,
entered by such companies as the Pru-
dential and the Metropolitan, which
gives insurance in policies as low as
$50 with weekly payments. This insur-
ance has grown enormously in latter
years and, in the case of one company
alone, involves the employment in the
field of an army of not less than ten
thousand agents.
In the Insurance Year Book of 1806
is published a directory of insurance
agents. In that there were about
10,000 names given of men devoting
the whole or part of their time to life
insurance work. The list given did
not include industrial agents so-called, :
that is, the men employed in selling
the small policies of from $50 upward,
and was made up at the beginning of
1896. It would be safe to say that
more than 10,000 men are actively en-
gaged in work for the so-called ordi-
nary companies. Many of these are
general agents and employ stub-agents
and have also clerks in their offices.
The number. of agents, assistants and
superintendents working under the in-
dustrial companies will foot up about
30,000, so that we have a total of 40,000
men in. the United States engaged in
the sale of life insurance. It is im-
possible to tell how many medical ex-
aminers are employed, but their num-
ber must be’ vast when we consider
that in 1896 there were 369,045 policies
issued by companies doing nothing but
an ordinary business and each of these
involved a medical examination.
IN 1875.
In 1875 there were 45 life insurance
companies reporting to the New York
Insurance Department. These included
all the large companies. Those not
operating in New York State were
minor concerns, and their figures, not
now obtainable, would not materially
alter the totals. The 45 companies had
capital amounting to $s,746.700. The
assets of these companies amounted to
$403,142,982. The premium income was
$83,393,056. These ompanies had 774,-
625 policies in force, insuring the sum of
$1,0907,236,230. In that year the total
payment to policy-holders was $65,480,-
810. The dividends to stockholders
were $364,062. At the time not a single
industrial policy was in force, and the
number of policies in force per hundred
of population was about 1.7.
At the end of 1806 there were 57 |
companies, operating altogether. Of
these, 40 were doing an ordinary busi-
ness solely, 13 were engaged wholly or
in part in industrial insurance. The
ordinary companies had in force, of
whole life policies, 1,428,569, insuring
the sum of $3,556,520,307, an average
of $2,489 per policy. The benefits,
under these policies, are of course
payable only at death. They had en-
dowment policies in force numbering
497,866, insuring $1,160,506,463, or $2,-
330 each. All other classes of ordinary
policies numbered 106,132, and carried
insurance of $338,913,738. Thus, in 22
years, ordinary insurance had advanced
from 774,625 policies, insuring $1,997,-
236,230 or $2,578 each, to 2,032,567 in-
suring $5,055,9490,508 or $2,487 each.
The number of policies in force for
every 100 of population had increased
tO, 4.2. ;
In the year 1875 the companies wrote
126,682 policies for $276,981,809. The
amount of ordinary business written in
1896 was 369,045 policies for $827,951,-
111. The industrial business. in 1896
footed up 2,869,363 policies, insuring
$360,908,034.
In the 22 years, 1875 to 1896, indus-
trial insurance had grown from nothing
to a business under which 7,380,479
policies were in force, insuring $887,-
117,984 or $120 per policy. The com-
panies represented were 13 in number,
with a capital of about $5,260,000. They
had assets of $61,524,526, had received
in premiums since their organization
$277,963,180 ,and had paid out to policy-
holders $106,911,822, making a_ total
return to policy-holders and of funds
invested for their security of $168,436,-
348, or 60.60%.
The assets of those companies who
write ordinary business altogether were;
at the end of 1896, $1,190,620,106. They
had received since organization, in
premiums, $2,895,018,765, and had paid
to policy-holders $1,935,866,140. Add-
ing to the amount paid policy-holders
the sum of the funds invested, for
security of the membership, we find a
total of $3,126,486,246, thus accounting
for 108% of the premium receipts.
Dealing with the whole system of
life insurance, industrial and ordinary,
57 companies now operating received
[Continued on 8th page.|
