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four or five times what he was properly entitled to.
The same principle was observed by the companies in the distribution of their surplus, so that the holders of endowment policies were practically mulcted at both ends of the line.
In his reports as Insurance Commissioner Elizur Wright had recommended this class of policies as a salutary provision against poverty in old age, and he felt under obligations to the public to correct this injustice,1 but the insurance agents had also advocated them for evident reasons and were naturally opposed to any project of reform.
The managers of the companies also treated the subject coldly, for the discrimination against endowments enabled them to accumulate a larger reserve which made them appear to better advantage before the general public.
The numerous agents and solicitors formed a solid body of opposition and raised a chorus against Elizur Wright like that which the robins make when you pick your own cherries.
This class of persons when they are actuated by a common impulse make a formidable impression.
Mr. Wright, after arguing his case with the insurance companies for nearly a year without
1 On a policy of ten thousand dollars, it would amount to an appreciable sum.
1905. E. P. DUtton and Co. Boston,.
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