Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1869-01-01
Vermont Life Insurance Company.

On Friday next, January LIST, this Company
commences its business existence. 1t is the fr't
Insurance Company organized in Burlington,
and being in experienced and capable hands,
and having an excellent field of operations, it
will start with high promise of success. 1t is
estimated that sums amounting in the aggregate
to $4,000, are annually sent abroad from this
City for the payment Of premiums in different
companies, located principally in the States Of
Massachusetts,, Connecticut and New York, and
that the total amount of assets of the several life
insurance companies in the country, will reach
$50, 100000, making the average amount of
assets Of each company 81 100000. These sums
will rather fall below than exceed the correct
amounts, and there is no good reason why Bur-
lngton, with its constantly increasing business ia
cilities, should not maintain as fourishing in
stituton for the purpose Of life insurance, as any
one point outside Of the larger cities. II any en-
enlargement is needed in the matter, let US see
what the energetic and philosophical City of
Hartford, Conn, has accomplished in the past
twenty-five years. or since theincorporation Of her
first Life Insurance Company, which is one Of the
Oldest in the United States. In 1916, when the
Mutual Life Insurance Company commsnced
business, the population of the City was but lit
tie more than Burlington, or about $4,000 in
habitants. By the last Insurance Report we
see that with population Of $1,000. she has
instead of one, eight Life Insurance Companies
ft,1 Of
whose income is now more than fourteen millions
Of dollars, and Of these eight companies, four
have been established within the past two or
three years. We know of but few respects
wherein Burlington does not offer as great in
ducements as Hartford, for the establishment Of
life insurance business, and pushed with the
same enterprise the next quarter of a century,
may be able to furnish showing as large and .
satisfactory as Hartford can to-day.
The Vermont Life Insurance Company was |
chartered on the 18th Of last October, and i'm /
mediately afterwards the amount Of stock
$4,000, on which the company propose to COM
,nence business, WAS subscribed. Their charter
allows them to increase their capital to SIPS, 900
They will transact business on what is termed
the " mixed plan, which combines the adyan-
tages Of both the stock and mutual
systems. By this arrangement ive-sxths Of the
profits Of the company are annually divided and
paid to the polcy-hoIders, and one sixth to the
and in consideration of such pay
nents to the stockholders the Guarantee Capital
pledged for all liabilities Of the company, so
hat the larger the stockholders dividends are
the larger VIII be the dividends to the policy
holders. By the Act of Incorporation the follow
ing persons were made Directors Of the company
til January 1870. and their names are sufh-
sient guarantee OF the prudent and successful
of its affairs
Directors-To.rey I. Wales, Lemuel B. Platt,
samuel Huntington, james 4. Shield, Russell :
Taft, Rodney ;. Wires, Nathaniel Parker, 10. b
Hatch, Geo. F. Edmunds. Omri 4. Dodge, i. t.
4 ennedy, Lawrence Barnes.
The officers Of the company viii be elected on
st inst For the past few weeks a committee of
he Directors have been making full and COM
'lete arrangement, for the commencement Of
business On Friday next They have secured .
or their Offices the suite Of rooms on the second
oor of eck's Block, and these are now being
1tel up with special reference to their wants
nd convenience.
We commend the company TO our readers, and O..
specially to all yermonters, as a safe and excel
mt company, and to the citizens Of Burlington,
5 by far the most convenient place il which to
lsure, as the business can he transacted directly
D the Office. wiihou, loss Of time or money by
through agents or through the :
.ais Aud We wish she new Vermont Com =
any, whose name seems to Us happily chosen, g.,
long and prosperous and useful existence.