Development & Growth, World 

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1871 Excerpt: ...kStates. Take the general law, under which the New England Mutual Life Insurance Company of Boston, Mass., transacts its business. It is, that there can be no forfeiture of a policy until the exhaustion of the proportion of the profits of the business to which the policy-holder is entitled. By the table of the office, that is in the hands of the public, a man who has made two payments of premium has 1 year and 228 days, grace allowed him for the third payment; and a man who has made ten payments, has 8 years and 272 days, grace allowed him for the eleventh payment. The office is the staunchest in the United States: as sound as the best of our own life offices. A second illustration. The street where I reside has a building history; the man who used to live at the corner built the whole street, and ostensibly was its owner; the ms.n directly opposite built the whole neighbouring square, and ostensibly was its owner; the man in the house next above is about to begin the erection of five hundred houses, ostensibly his own. The man at the corner absconded last year, leaving his wife and eight helpless children chargeable to the parish. The man opposite is at present in the Bankrupt Court--passing the court The fate of the man in the house next above is morally inevitable; he will abscond or break. The house in which I live cost £150; how does the builder and ostensible owner stand in relation to it? The figures are instructive:--Builder's Cost. Cost of house £150 0 0 Annual cost:--Interest, 12 per cent £18 0 0 Ground charge 4 0 0 Repairs, with insurance.. 2 10 0 Annual cost £24 10 0 By hiring 20 0 0 Annualloss £4 10 0 Here, on hire, the builder and ostensible owner loses £4 10s. a house. But, as a rule, he does not erect for occupa... - from Amzon