The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1882-08-31
A psospgRous CcxasHN =

1 A PROSPEROUS CcN IBA* Ill always aHolus
us pleasure TO note the prosperity OF any com
mendable enterprise, and that pleasure is en-
HANGED when the enterprise in question is a
home institution dssigntd 20 baneat the town
and contribute to lis business important e
For this reason we have watched with interest
the career of the Valley Mutual Life Associa-
ton and marked how step by step it has all
yanced in the confidence of the people extend
ing rapidly the sphere of its benefits, and CON
tributing much to the progress Of our city
There seems To be in the popular mind dee
! rooted prediutiicc against assessment nsur-
ance companies There has been much TO
create such prejudice, for the history OF
those concerns which have been operated
purely on the assessment plnn, has not been of
character to Inspire confitlcrcc in the per-
manency of the institutions. On the Other
hand the old line companies require such
| seemingly exhoTbitant payments that the door
to them is practically closed to many who are
anxious to guard their families against want
| when deprived Of the services q those whom
they relied ON for support. The medium b..
field until the Valley Mutual came into exis
tencc. That company undertook to combine the
best features of both systems, by giving an alb
solute guarantee 10 the policy oldfr at cost
but little more than the cost Of carrying the
policy. To this end it was announced from
the first that the Valley Mutual would pay its
death losses dollar for dollar, no matter what
the amount realized from an assessment. The
first death among its policy holders found the
company unable to meet lis obligation from
the assessments, and the stockholders
promptly made good the deficiency out OF
their own pockets. Before another loss oc-
cured the increase Of insurance had bren so
great that an assessment more than met the
demand, and from that time GA the company
has been steadily laying aside reserve fund
besides paying many death Losses for which
no assessment was made, the reserve fund be-
ing accumulated from premiums aud ANIMALS
Business sagacity in managing and investing
the accrued funds, faithful performance of
duty on the part of the officers and Il determi !
nation to give life insurance AT int little more |
than actual cost, have co inbintu To render the |
Valley Mutual one of the most Stable and pop
ular companies now seeking public support. |
Its whole machinery is conducted on business |
principles, and those who have been entrusted
with its management are gentlemen upon
whose high character and capacity the most
implicit reliance can be placed
The semiannual report of the President has
recently appeared in the Association Journal.
and fully justifies us in pointing to the compa.
ny as an institution of which the State, and
especially the city, should feel justly proud.
In that report Mr.. Stuart, the president,
gives the following tabular statement which
will enable all interested to understand not
merely the present condition of its business
but to ascertain the progress that has been
made during the six months from January to
July, 1882:
NUMBER OF POLICIES IN FORCE
Jan. July Increase,
/, 1882 /, 1882
In Male Department, 2,s37 1909 1872.
In Female Department, 256 $50 IS.
AMOUNT OF POLICIES IN FORCE
Jan. July Increase.
l, 1882. l, 1882.
In Male Department &c. 500 s7O6 500 81 ,e27 900
In Female Department. 474,Ooo 6s7,5Oo 81 $500.
Aggregate in Deps, $5,9l25OO s7752OOO 81, s4o5Oo
ASSESSMENT BASIS.
Jan. July Increase.
In Male department. s6,745.2o ss,5s6.so 81, $4,000.
AVAILABLE ASSETS (NET).
Jan. July Increase. |
l, 1882. l, 1882 /
u 8. 3H bonds ...... $4,000 90 $4,000 90
Property ............... CTS Al 5,768 81
Individual bonds..... 1O,2sO 90 1O,2sO 0U
Net bal. In hands of
Treasurer. 1856 At 1898 go
Assessments Cue..... GA 81
Aggrega ,757 IT s34,6s7 SO $500 16
These figures, says the President, show that |
business of the Association has been steadily |
increasing, and justify the hope that by the |
1st day of january, 1868, the amour; of poll
cies in force will approximate ten millions of |
dollars, and that the available assets, common
ly known rs the preserved fund.-" will not fall |
much below fifty tn ousand dollars
During the next three years, when the an
nual contributions of IS on each 81 900 of in.
surance become due and payable, this fund
will be rapidly augmented, in consequence OF
the increased number and value of the policies
issued.
Continuing, the President says AS it
may be interesting, not only to the Directors,
but to our policy holders, to be informed of
the amount of policies issued during each
month of the last halt year, | submit the fol-
lowing detailed statement:
NUMBER OF POLICIES FROM 1sT JAN. TO 1sT
JULY, 1899