The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-03-08
INSURANCE STATEMENT.
The New York Life Insurance Com
DanV


The especial attention of every reader of the
IpdeDendent is called to the forty-third annual
report of the New York Life Insurance Com
pany of this city.
The readers of the INDEPENDENT have not
! lacked in the past for educational articles on
| the subject Of life insurance. We have consid-
| cred IL as much duty on our part to teach and
| preach the inestmable value of life insurance
| as we have of religion morals The publ
caClon OF the reports of great life insurance
companies emphasizes and illustrates our teach
ing. IneSe companies present facts and figures
wnlch cannot be gainSald. The only thing is
that their figures are large their transac-
tons are so great that it is really difficult to
realize the tremendous Importance OF the fig
ureS as presented.
The New York Life during the past year re-
celved from premiums, interests, rents and
other sources, So, 100000 1t paid policy hold
ers S9,5O0,OOO. 1t received nearly per cent. In
terest on its average nit assets. It's increase
during the year in income was $4,000 coo; in net
assets, S8OOJOO0; in insurance written, $2t .19l
UOUi while the increase curing the year of insur.
ance in force has been S54,000,0 900. It's surplus
by the new standard OF per cent. is $Il, 49,
793 o.
~ Fact ought not 20 be lost sight OF, That
the New York Life is q purely mutual c-..4n aay,
that its policy holders, numbering 113, 323 prob
ably about 100000 uiiI1ienU persons. are part
ners III business. When the company IS spoken
OF, these 100000 persons must realize that il g
themselves, that they are partners in k:siiess
and whatever makes for the success Of the com
pany is success for themselves. If the New
YORK Lie were to resolve to-day TO Issue ne
more policies, the heirs of the last living policy
holder. whose death might occur seventy or
eighty years hence. wCuiu receive the full
amount of his policy with all equitable addi-
tons thereto. One of the desirable features of
being member of the New York Life Insur-
ance Company is that each partner or policy
holder is called upon not to suffer loss hut IN
share In the profits One successful feature of
the management of the company which shoaid
commend itself to every person having little or
much money to invest, is that it realized nearly
per cent last year from its average net as
sets. This, to our mind, is a most wonderful
showing.
The New York Life was the first to adopt the
non-forfeture principle, feature in life insur-
ance so valuable that it has since been incor-
porated in nearly all OF the insurance statutes
OF the different States. The saving to policy
holders by reason of the non-forfeiture principle
is estimated to amount to over 5000, 900 year.
The New York Life issues, perhaps, a greater
variety OF policies than any other company;
striving by this means to meet the wants and
circumstances of the greatest number of people
desiring insurance. 1t pays its losses without de
lay, and treats its members and partners with
as great consideration as is consistent with the
interests of all. The value of such an organiza-
ton as the New York Life Insurance Company
to the country at large cannot be estimated.
Only widows and orphans can tell the true
story. If the New York Life is now distributing
nearly 500 900 yearly to policy-holders: con
fering thereby untold benefits, what will be its
standard of benefit to the world at the begin
ming of the next century? Only men who can
realize the full Importance of great figures can
estimate it.
Such tremendous financial corporation as
the New York Life Insurance Company, de-
mands the highest order of financial ability in
its successful management. Mr. William II.
Beers, President, has been actively engaged in
the management of the company since 1868.
Moreover, the company is fortunate in having
the services, on its financial and other commit
tees, of some of the ablest business men of the
city, who compose its board of trustees The
greatest praise which can be given to this man
agement is to compare the statement of the
company of Jan. 1, 1863 with the one of Jan. /,
1888. During these twenty-five years the coun-
try has seen many troublOus times, but the
business of the New York Life Insurance Com
pany has always been successfully pushed to
the fore-NeW York Independent