Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1872-07-04
An Invincible Safeguard Against Pow
erty.
Against poverty for ourselves. in old
aooe-or. for our families after us.

erty.
Against poverty for ourselves. in old
aee-or for our families after us.
We are led to this train of thought by
the perusalof the Report of the Pied
mont e. Arlington Life Insurance Com
pany, for the year 1871. We have just
nrt the pamphlet out of our hand, say
ing 20 ourselves, Life Insurance is, be-
yond all doubt, the only safe provision
for ones family. We accept the figures
of this Report with the confidence and
the qualification that spring from person
al knowledge of its management. Tho
integrity of its officers, whom we have
reason to hold in the highest esteem, the
systematic regulation of its working
force in every department, the watchful
care of the various committees, and tho
superior Mathematical attainments OF the
actuary. Prof. f. B. Smith, combine to
furnish a guarantee of the accuracy OF
these figures such as is not often afforded
-
But we think that the opinion OF the
Oldest and ablest Insurance Journal in
the United States-the Insurance Mo''S-
tor, of New York-would perhaps be OF
greater weight than ours. Therefore we
append what the Monitor has written OF
the, Piedmont and its. Report for 1871:
m, x,o,,oJ fI,a or,,o;h1a nj
our insurance department, and com
menced doing business in the state OF
New York last year. 1t is rapidly taking
rank among the progressive companies
of the day, having already S,SsS policles deS
in force, covering upward OF S2o, ,OUe
of insurance.: the Company's assets anc
acumulationsre reaching the handsome sum
of 81, 769, ,7OG. There has been popular
sort of notion in certain quarters thai
they could grow nothing in Virginia pu'
tobacco and Presidents; but here is sat,
isfactory evidence that both finance and
insurance are Indigenous, as well In phe
Old Dominion as in some other quarters
which make larger pretentlons IN tnose
vocations. The income OF the company
last year reached almost Sl,5O0,0oo. 1ts
expenses Of management were some
thing less than quarter OF q mlinon
while its disbursements. to and for poll
cy holders were something over three
quarters of a million. The ratio OF ex'
pense to income is 16 81, which is very
| oreditable for company OF its age, stl!!
engaged in the expensive pioneer.WorR
of spreading its agencies through the
land. The Company issued 1892 policies
last wear, covering S5,,78S, 1907 and Its
January statement shows surplus, as tc
policy holders, of over $3.50, 900. The
progress, the status, and the expenses o
the Company compare well with many
| Companies older than it; and the fac
that it has passed the inspection of the
insurance departments of New York
Kentucky, Missouri, and California, is
satisfactory official Endorsement of its
solvency and worthiness. We do no
remember any other Southern Company
that has done this.
Nor is this all. The following higf
testimony is borne by the New Yorl
Spectator, of January, 1872.
The Piedmont & Arlington Lifehavinl
been examined by Superintendent Millel
and found fully able to comply with tht
requirements Of the laws of New York
has been authorized to do business il
that State. This company, has been rap
idly growing in public favor ut the South
and has succeeded in commanding large
degree of confidence from those to whon
it's affairs are best known. It's home
office is at Richmond, Va, where tht
officers and trustees are among the mos
reputable citizens; and, generally, the
Company's connections, agency and 9th,
erwise, are Of a credible character. /
| is noteworthy that this is the first in
stance of Il Southern Life Company es
tablishing itself in New York, and the
circumstance is full of auspicious signifi
canoe.
B nut the Baltimore U1lde,7crfter, anoth.
er famous Insurance Journal, perhaps
puts the case in stronger and better light
than either. In it's issue of April 1872
it speaks thus:
Taking them, then, as we find them
we cannot forbear rcnarking that Rich
mond has at least one institution OF which
! Virginians may feel proud. There ars
few companies that can present SO salts
factory record q progress; Tins an.
nual statement is numerically only the
| fourth, yet it tells us that the income fol
the past year was Sl,445, ,6Ss, and that il
now has S,363 policies in force, covering
the large amount Of $40, O05, ,56l; the poll
cies, therefore, average over IS, 200. The
aggregate assets amount to S2,169, TUG, and
the liabilities to S1,434, ,OI0. In cstima-
| ting the reserve embraced IN these LA
| bilities, which is necessary to re-lnsure
| all risks, the actuary has wisely as well
as laudahly included the full reserve tol
| policies on which deferred premiums
and "premiums is transitu' are due,
thus exhibiting the utmost possible fair
ness and business, and sacrificing temp
.ation to dissiinulative display for the
more solid beauty OF truth.
In looking over the items OF the eX-
| penscs OF management and the disburse-
ments. we are impressed with the econo.
mic character Of the administration. The
entire commission account, $lU3,6l0, is
less than eight per cent. OF the premium
| income. The com bined salaries arc set
down at Sl7, ,53G, from which we are left
to infer that the cost of living is cheaper
| in Richmond than elsewhere, or that the
officers are content with the hard tack OF
war times. The total expenses are esti-
mated at $242 252, which leaves 16 G2-l0O
per cent as the ratio OF expenses to in
come. Out of siXty-five companies re-
porting to them York Insurance De-
| partmcnt, only twenty make better
Showing than this, and these ere all con-
/ siderablv older companies, the youngest
being seven years older than the Pied
mont and Arlington. The. ratip Of ex-
pense of management to income OF most
| Of the companies Of the same age, is for.
w per cent, while the average Of all the
companies doing business in New York
is more than twenty-siX per cent.
And in fact we might reproduce such
sterling praise until the testimonials
would make very book, but our space
will allow us room for but one more
| from the Philadelphia Timcs:s
The company has recently come into
Pennsylvania, and we shall not be at all
astonished to see it outstrip many pre-
| tended life fossils of the day. . The
people of the East will patronize solid
CORPORATIONS from any section, and none
will more heartily bid the Piedmont and
Arlington welcome to Philadelphia and
New York than the Daily Times, which
unqualified endorses it as having nc
] superior as q reliable, well-managed and
solvent life insurance company,
And we must be allowed to say in the
close, that the great popularity, in Edge
ield District, of the Piedmont o. Arling.
ton, should certainly bo augmented by
the facts and figures of this Report, and
; the opinions concerning 1t. In life and
| in death, Edgefield has known no surel
/ La..o,, o9 aannr.itu than the Piedmont q