DIARY OF R. PEPPER,"

June 20.

OUR IRASCIBLE AGENT.

Extract I.

Called on B. Smith. Found him excited about the smallness of his dividend. Gave him a piece of my mind, to the following effect:

"You talk as if the future of the universe depended on the amount of the dividend on your one little policy. Some men want the earth, and are never satisfied because they can't get it. It's a lucky thing that you don't run the company you're assured in. It takes brains and breadth of mind to manage a life assurance company.

"You have everything in the world to be thankful for and yet you don't know it, but think you have a grievance. You've got one of the best policies, issued by the best company-'the strongest in the world.' Your assurance is sure. It's backed by seventy-one millions of surplus (the proof of sound and successful management), and you've got a liberal dividend into the bargain.

"But it might be larger? Of course it might be larger a great deal larger. Look in any newspaper at the 'get-rich-quick' advertisements. Think of the investments' that have been floated within the last ten years that have not only promised, but paid, enormous dividends for a while, and have then gone up the spout. A life company can't fail if it's wisely managed; but think of all the companies that have succumbed to mismanagement within the last fifty years.

"Other companies pay bigger dividends? I dare say they do. They have to, in order to lure shallow people away from from the 'strongest in the world.'

"Why dont you exercise a little common sense about your life assurance, as you do about other matters. Why is it that the best stocks and bonds (that pay only moderate dividends), command the highest prices? Isn't it because they are the safest? And is there any investment about which security is of as much importance as an investment in life assurance? What are you buying anyway? Isn't it protection? Then, don't you want protection that protects? Do you want to sink your hard-earned savings in a policy that your wife and children will find worth less than the paper it is written on? There are lots of policies that have gone into the ash heap!

"Don't you know that it would be the easiest

thing in the world for the company to double dividends? How? Why, by simply investi assets in speculative securities that pay large p If the company gets big dividends of course pay big dividends. But do you want assura are you speculating with your money? If the 1 you have come to the wrong shop. Put your n into a blind pool; gamble in the stock market shares in a gold mine-you may have a run of 1 but don't let me hear any more complaints you because the company you are assured prudently managed; takes no chances; is sati with investments that yield moderate returns. pays its policyholders the dividends earned (an more.) And when its policies mature (this) or next year, or in the twenty-first or thirty century) will pay-instanter-to every benefic ONE HUNDRED CENTS ON THE DOLLAR!"

N. B. After straightening B. Smith on the dividend question, I showed that he needed more assurance and wr his application for $10,000 additional.

"STRAWS WHICH SHOW, ETC."

Here are two letters received by Tarbell since his Southern trip, which a only samples of many others. The Sou is going to be heard from.

The first is from W. A. Danner, dat April 14:

Last month we received from one of our agen Mr. B. L. Page, twenty applications, which is great deal more than he wrote the entire of la year. Mr. Page attended the dinner you ga us here on March 10, and next morning whe he came to the office he stated that he was goin home and sell his farm and write life assuranc So you see the great good your talk did us. W sent in applications on 119 different lives la month, and one of our agents has already writte nine so far this month.

The second letter was sent by E. R King, of Georgetown, Tex. If he keep up his gait, he will soon be a King "in the business."

The cabinet photograph you were kind enough to send me was on my desk when I ran inte Dallas Saturday evening. It is a splendid picture and I thank you very much.

Your letter welcoming me to the list of fifty for 1902 was with it. In this connection I wish to say that you can put my name on the list for the rest of the year. I am learning to make the most of every minute. From the date of your visit to Dallas to the 15th of July I am going to have $200,000 or more to my credit. You may charge me with that amount now. On the morn ing of March 19, under the inspiration of your talk with me, I set out to write an average of one application a day for one month. By the evening of April 5 (first fifteen working days) that resolu tion, given fresh-air treatment, cost the Equitable $150 in examination fees. Your visit to Dallas was a mighty good investment for me.