Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-02-26
= Fine showing of Business.

= Fine showing OF business
The reader will find the thirty eighth
annual report of the New York Life Insur
ance company in this days GLOBE tt is
presentment Of which the officers and the
country may we'll feel proud. The com
pany has gone through an eventful period
in our history; it weathered The gale ad-
mirably through the civil war and the pan
les of '57 aRd rs; always paying ths
amount of the policy to comfort the widow
and the orphan. 1t is the custom
to belittle and berate the man
who presents life insurance for
consideration, but the life insurance man
may fairly take comfort in the thought that
there are in the world hundreds of thous-
ands of families who have bread and a
roof and education for their children be-
cause the insurance man" suggested to
the head of the family to take policy
while he was yet in health. Generally
speaking the insurance man has to press
the subject home; it is only the very care
full and prominent head Of
family who of his own
volition goes to the lifs insurance
Office. Cases do occur, however, where
men, young men too, see the advantage of
it. The other day VIM. G. Pearcs collect
ed of the same New York Life the amount
of a policy On the life of his recently de-
ceased father, and as he took his check he
said to the manager that he wanted to fol-
low his fathers example and place policy
on his own life. The editor of the GLOBE
Joa ~ onto with tar
pleasure than he doss the premium on his
life policy in this company, because hs
knows that to his as we'll as to all
households will come day Of disarrangs-
ment and disturbance, when the ordinary
avenues of revenue will be closed, and
then the life insurance Will be handy in the
house, and it's collection will not need
courts or lawyers or probate Judge, and it
will not cost penny. The last year has
been one of great fruitfulness to the New
York Life; over twelve thousand new poll
cies we're written. over twelve thousand
awaiting of an asset that greedy or nesdJ
creditors will have nothing to do with;
an asset that is saoredly
set aside for those who too often cannot
help themselves. Tbs great value of life
insurance is the provision that it makse
for the family whose bread-winner ii
taken away, and to that class the
company has paid within the year
nearly S2.OOO,OO0. Then the company
paid over 100000 in endowments and
annuities. benefits for which people do moi
have to die After these vast sums sI-
pended, the company shows assets of over
| S5O,OO0,0OO safely invested, being
an excess of $10,000,000 over and
above what would reinsure its business
and enable it to square its books with ths
world. It is remarkable in this company
that its real estate is of such compare
lively small amount, for the large compa-
MES of the East had to buy IN the prop
erty which they sold under mortgage. The
trustees of the company comprise such
men as H. 3. Claim, David Dows and
William Barton, and their like. But af
ter all, the executive, the president and
and vics-president, and the faithful watch
dog of the company's treasury are the
spirits who throw their life and blood into
this vast corporation. The president i:
Mr.. Morris Franklin, but the whsel-horse
is Mr.. W. Fl. Beers, vice-president anc
actuary, who, younger in years than the
president, takes the brunt of the com
pany's work, while Mr.. Theodore Bants
cares for the company's assets, and
Mr.. D. O'Dell is superintendent Of
agencies and managers throughout thii
country. The other day young Norwe
gian at Minneapolis wrote to the company
for information on insurance, and it trans
pired that his father and friends in Nor
way were about insuring in tho New Yorl
Life, but before doing so, as it was il
America, they wrote hither to know
whether the company was all right. Suct
is the prudent foresight of the north o.
Europe gentlemen. The company
does large business in Great Britain sne
on the continent of Europe, and as there
are no stockholders, the assets, and plan
and good name all belong to the policy
holders. Among the recent additions tC
the ranks of the New York Life is Rt. Rev
Bishop Whippls, and Rt. Rev. Bishop Ire
land has carried policy in il
for ten years. The most important
thing is to commend life insurance; let the
people be impressed with the benefcsnce
of this science, and this company vii
commend itself.
| WiSWam