The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1876-11-04
SECRETARIl


MEDICAL EXAMINERS.
GEORGE HAYWARD, M. d. JOHN ROMANS, M. D.
WILLARD W. MoRLAND, NJ. D., present incumbent
The first period of the company's history en-
bracing the time of the presidency of Mr.. Phillips,
extends from
1S43 10 1866,
period of twenty-three years. By the first annual
report of the company, dated Dec. q 1874, we find
that dnring the ten months of business, three hun
dred and forty-three policies, covering about $780,,
900 of insurance. had been issued that 23 1922 of
premiums had been received, and 81 12251 had been
paid out for preliminary and slap sc for incidental
expenses. At the date Of the report the company
had three hundred and forty policies covering $685.
ITO of insurance in force and possessed of assets
to the amount of $72,l6220. There had been no
claims for losses during the year. In regard to the
establishment of agencies the report says
Agencies of the company have been established
in over twenty different places, most of them in New
appointing agents is that it is best to be somewhat
deliberate. Though the agents do not decide upon
accepting any lite but transmit the applications to
the companys Office, to be there acted upon, yet they
do in some degree and to some purposes, represent
the company and its reputation as well as the gene
well represented. 1t has accordingly been deemed
the best course to delay appointing an agent at any
place until one OF entirely satisfactory qualifca-
new company, and such as we have not always been
in the custom of hearing from or, in fact of seeing
acted upon by many companies more recently
organized.
Such, as given above, were the beginnings of what
has since grown to be the New England Mutual
Life It is an agreeable glimpse, and it would
be pleasant to make it more extended; but we must
content ourselves with placing in contrast with this
the condition of the company at about the time
when Mr.. Phillips's presidency ceased by resigna-
ton. At the close of 1866, the year during which
Mr.. Phillips resigned, the company reported 1909
policies, nsuring 724, in force; an income for
the last year of 5s63 and egate assets to
the amount of S5,067 1924. Twentythree years of
hard work had been spent in attaining these results,
not so stupendous as some companies have attained,
but which when obtained were enduring, making
the foundation of the company sound and unshaka
BILE. Moreover this work had been accomplished
without breath of complaint that the company's
affairs not managed with the fullest integrity.
Indeed in this respect it is noticeable, that to an al
most, if not quite unprecedented degree the repu-
tation of New England Mutual has, throughout its
entire career been unassaed by charge or innuendo
and this. too. when the spirit of competition and
strife fol business has at times risen high that the
smallest things seized upon by eager rivals and
ing all this time the New England Mutual has been
successful and yet it has won and held the respect
of allwith whom it has had dealings. No higher
tribute to the thorough integrity of its management
could be had,
We now come to the second period of the COM
pany's career, that under the presidency of Mr..
Stevens which, lasting to the present time opens in
1866.
As we have indicated above, Mr.. Stevens was
elected secretary of the company upon the retire.
ment of Jonathan Amory, within four years Of its
organization. For seventeen years he retained this
position, becoming thoroughly acquainted with all
the minutia of the companys operations, and prov
ing an able associate in President Philpss admin
istration. In 1854 Mr.. Stevens was made vicePres-
ident the office beiLg instituted for him. and Joseph
NJ Gibbons, who had been assistant secretary since
1850, having been connected with the company since
1919, was elected secretary, Office which he still
holds. In 1866, Mr.. Phillips having now reached an
advanced age where the active duties of the manage
ment of such company as the New England had
to be too burdensome for him, resigned and Mr.
Stevens elected his successor. There was prac-
ticay no change in the administration Of the COM
pany. Mr.. Stevens had had official connection with
it for nineteen and Mr. Gibbons for seventeen years.
and during some years past Mr.. Stevens had per-
formed many of the executive duties. The change
was, therefore, effected without the least friction
and the affairs moved on uninterruptedly. Since
that time there has been no change, President Stew
ems and Secretary Gibbons meeting the require
ments of their positions in such manner as to sus-
tain the high reputation of the New England Nut
ual and its position in the very first ranks of
American companies.
Having thus passed in review the main points of
the time dning which each of the presidents held his
position it becomes of interest to review the career
of the company as whole; and for this purpose we
divide its history into periods of five years, bringing
it down to the close of 1873 and then append the
suits of the business during 1874 and 1875. The
hihit under the more important heads is as follows