The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1876-01-31
The FrankIin Life.

The past year has been a memorable one
in the history of the franklin Life Insur-
snce Company. II its annual report this
year, which may be found in this paper,
were compared with the report of last year,
this fact would be apparent. Yes even the
reports would fall short of revealing the
thorough renovation which has been made
in the affairs Of the company. Like the
cleaning out and complete repair of an old
and badly kept building this company has
been overhsuled in every part TO the most
obscure corner, and diveslel OF all rubbish
chat and uncertain assets and put in COM
plete running order. 1t is something worthy
OF congrai ulsiion to say that while the New
York companies are in unusual confusion
and disturbance, Indiana is able to 60 into
the field with a company that can command
the public confidence. The most remarka-
bic point is its success and progress while
going t. tough an expensive process of re-
organization. Conscious OF the intrinsic
value of its business and solid assets,
though suffering from a loose and compli
Gated management, the company last sum-
mer determined to go through every detail
of its condition, to eliminate all elements of
weakness and doubt and to put it upon a
sound and intelligent business basis. For
this purpose they employed Mr.. w. Z.
Harvey, ofSt. Louis, competent and noted
sctuary, to Inspect ana compute all its as
sets aud liabilities and test its soundness to
the bottom. For the fidelity and patience
with which Mr.. Harvey performed this duty
the company feel under great obligations to
him beyond his stipulated compensation.
By timely suggestions and instructions he
has made his services of great value to the
present management. When everything
was brought down to genuine hard pan,
stripped of all doubtful or fallGcious trusts,
the company was found to be in 3 solvent
and healthy condition, with strong and
vigorous root on which to engrait legitimate
business. It's report, published in the Sen
tinel, so demonstrated. But its reserve, on
the established basis of life insurance, was
not up to the required standard by some
$4,000. Since that time the business has so
prOspered under good management, that
the deficit has not only been made up, but
the present report shows surplus reserve
over the required Az per cent of S11 900.
1t has added to the list of its policies $780, COW
ering over halt million of insurance, a sur
prising gain in view of the hard times and
general inactivity of life insurance. The
company is now in perfect working order,
without a blemish or weak spot. 1t is in
the hands of honest, careful and capable
men. The president, A. D. Lynch, Esq, is
known to be trustworthy, and he has de-
cided on thoroughly conservative policy,
giving his time and abilities to this one
thing. The Rev. L. G. Hay, secretary, is
likewise an efficient, enthusiastic and pop
ular officer. There is every reason in justice
and common sense for the people of Indiana
to give their united support to this home in
stitution in preference to foreign insurance
companies. The cloud which once passed
over Indiana insurance work has been COM
pletely dispelled. She is now crowding the
field with numerous companies, but those
which she has to-day are not surpassed in
sterling merit by any similar institutions in
the United States.