The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1872-02-07
western Enterprlse In Inc East.

western Enterprise ln the East.
We have seen notice from the Lille
Association Of America, calling a meeting
OF It's trustees in New York city for the
9th prox, for the purpose oil organizing
the New York department Of the AssoI
citation by the election Of directors and
officers. This Is an event In the history
Of life insurance in America which dc.
serves from us more than q passing notice.
The Lie Association Of America was
Incorporated a little more than three
and n half years ago, by one hundred
OF our best known and most sagacious
citizens, as q strictly mutual company
without capital stock; the security TO
its policy holders being furnished In the
premiums contributed by each member.
Since its organization It has paid back
to the policy holders dividends 10 the
amount Of TIIRRRy HUNDRED AND SIXTY.
FIVE THOUSAND = DoLLARs It has paid
to the widows and orphans Of It's deceased
members over SIX HUNDRED AND SEVEN
TY.sEyEN THOUSAND DOLLARS, and 1t has
now on hand assets 10 the amount of
THREE MII.LIoN SIX HUNDRED THOUSAND
DOLLARS, included in which the surplus
or dividend fund.- to be returned TO the
policy holders, amounts ID over THREE
HUNDRED AND sIxTY.sTX THOUSAND Doll
LARS, thus showing that the net profits Of
the business during the short period OF its
existence, have been over SEVEN Hun
DRIED AND THIRTY, THOUSAND DOLLARS.
The Association has on its books nearly
TEN THOUSAND MEMBERS, and its business
ioOtss up over FRTY.Two MILLIONS OF
DOLLARS. '""-.'
These are some Of the figures given in
the comprehensive annual statement Of
the Association, as verified by the investi.
CATION into its affairs by the Superinlen.
dent Of the Missouri Insurance Depart.
ment. They are simply astounding in
the results which they Indicate, and we
would advise our readers togo over them
again, las we have done) In order to take
in their full significance.
To return 10 the heading Of this article.
The Life Association of America has in
the face of stringent money market,
succeeded by the strength Of It's popular
features, and the justice OF It's comprehen.
sive plans, in securing in New York,
(where there arc about forty home com.
panies), the cooperation Of over three
hundred oEthe best men of that city as
trustees, each Of whom has qualified by
securing ten thousand dollar policy.
These will elect on the 10th of next
month, from among their own.number,
board OF thirteen directors, who shall
have, in conformity with the provisions
of the charter, the management and gu.
pervision Of the department, thus form.
ing the nucleus fora home company in
New York, q part Of the whole.
Success attends the Association in all It's
movements. Its future will be grand
We feel like extending the hand oflellow.
ship to our New York friends for this their
generous support OF our st. Louis AssOCia.
tiou. We would also feel like calling on
our people to support the New York com.
panies In return, il it were not for tue un.
wise policy Of the Legislature which
Obliges them tokeep the millions oCmoney
contributed byus, locked up in New Yorl;
securities, while We arc undergoing q
financial starvati0n'i Tor the want OF these
very funds. 1t is the mission Of the Life
Association of America to correct this
evil, its fundamental principle being the
loaning OF It's moneys in the States from
which they are procured. t'-
The energy and zeal displayed by the
managing directors AMI officers Of the
Association in pushing this business, de.
serve the highest praise They have sue.
cecded in building up an institution which
shall be II lasting monument u their
ability and integrity, and which is cred
it 10 MisSouri--a credit 10 the Vests
credit to the whole nation.-&. LOui,
Times, January 25, 1872.
We are informed that the Department
of Western New York will be organized
at Buffalo on the Sth inst, with over fifty
trustees. Large Department boards are
also being organized in Philadelphia and
Richmond, Virginia. Messrs. Anderson and
Carr are the messengers Tor this State
and J. w. Fcrrell, Esq, OF the Panhan.
die district. They have taken about
81, 100000 Of risks in this little State
during the past two years, and have loan.
ed nearly $4,000 to their policy holders.
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