The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1876-11-11
SECRETARIES.
Name.
MEDICAL EXAMINERS.

MEDICAL EXAMINERS.
GEORGE HAYWARD, NJ. D. JOHN ROMANS, NJ. 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 to 1866,
period of twenty-three years. By the first annual
report of the company, dated Dec. 2, 1874 we find
that dnrug the ten months of business, three hun
dred and forty three policies, covering about $780,
900 of insurance. had been issued that $23 Of
premiums had been received, and So 12251 had been
paid out for preliminary and 42 96 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 amonnt of $72,1622O. 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
England. The result of experience in this matter OF
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 well the gene
raj interest Of its members require that it should be
well represented. 1t has accordingly been deemed
the best course to delay appointing agent at any
place until one of entirely satisfactory qualfca-
ions presents himself"
Wise words, certainly, from the management of a
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. 1t 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
Of no Of ohnuf fha
when Mr.. Phillips's presidency ceased by resigna-
ton. At the close of 1866, the year during which
Mr.. Phillips resigned, the company reported 13,OO9
policies, nsuring s4O5s372 in force an income for
the last year of and aggregate assets
the amount of S5,O67 3s2s4. Twenty-three 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 8
affairs were not managed with the fullest integrity
Indeed in this respect it is noticeable, that al
most if not quite, unprecedented degree the repu-
tation Of New England Mutual has, throughout its
entire career, been unassailed by charge nnuendo
and this. too, when the spirit of competition and
strife fol business has at times risen high that the
smallest things were seized upon by eager rivals and
turned to the injury of successful opponent. Dur
ing all this time the New England Mutual has been
successful, and yet it has and held the respect
of all with 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 MIR.
Stevens, which, lasting to the present time opeus in
1866.
AS we have indicated above, MT. Stevens was
elected secretary of the company upon the retire.
ment of Jonathan Amory, within four years Of It's
organization. For seventeen years he retained this
position, becoming thoroughly acquainted with ali
the minutia of the company's operations, and prov
ing an able associate in President Phillips's admin
istraton. In 1864 Mr.. Stevens was made Pres
dent, the Office being instituted for him. and Joseph
M Gibbons, who had been assistant secretary since
1861 having been connected with the company since
1s49, was elected secretary, an Office which he sti
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
come to be too burdensome for him. resigned land Mr.
Stevens was elected his successor. There was prac-
tically 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 uninterruptedy. Since
that time there has been 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
ua and ensure its position in the very first ranks Of
American companies.
Having thus passed in review the main points OF
the time dnring which each of the presidents held bis
position it becomes of interest to review the
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 1875 and then append the
suits of the business during 1874 and 1875. The
hihit under the more important heads is as follows