The art bronzes, the objects of jewelry, of
goldsmith's work, and of morocco work, the music boxes, Trouve's and
Aboilard's electric jewelry, and the retrospective art collections
especially attracted the attention of the public.--_La Nature._
* * * * *
A NEW MODE OF TESTING THE ECONOMY OF THE EXPENSES OF MANAGEMENT IN
LIFE INSURANCE.
How to determine the general ratios of the expenses of management of life
insurance companies has hitherto been an unsettled question, and I think
no serious attempt has been made before my own to study this question
exhaustively, and reach a scientific conclusion.
Believing that, one is contained in the following statement, I
respectfully submit it to the criticism of others.
It has generally been taken for granted that the measure of economy of
life insurance expenses may be expressed by the single ratio of expenses
to one feature of the business, such as the premium income, or the total
income (premium and interest), or the mean amount of all policies
outstanding. But this is not the case. No exhaustive reason has been shown
for preferring one of these bases of ratio to another, and, indeed, no
reason well supported by argument has been shown for employing either.
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