The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1889-12-03
in life insurance companies on the lives Of
citizens of Maine. This calculation demon
strates practically the following;

in life insurance companies on the lives Of
citizens of Maine. This calculation demon
strates practically the following:
Amount OF insurance in force on
the lives Of citizens OF Maine
on the 31st of last December S23,622, 3.10
The deposit held against this In
surance. technically known as
the:reserye, amounts in round
Besides which there was paid '''''0O
during 1888 to benefcaries un-
der policies on the lives Of cit -
izens of Maine. e................. 413,088. 80
And during the past ten years
the life insurance companies
traDsacting business in Maine
have paid to benefieiaries un-
der policies on the lives Of cit
liens OF Maine. e................. 3,873, ,647. .O3
To this record might be added
the amount paid by life insur-
ance companies in the shape Of
dividends. surrender values,
etc., TO the citizens of Maine,
which sum, though not access
slble, would largely increase
the dlsbursem ants OF the COM
panies-probably not less than
half million dollars mOre....
The above amount already paid by life In
surance companies, and the S4,750,O00 re-
serve fund already accumulated for future
pie OF Maine in the direction OF life insur.
ance,-a truly MAGNIFICENT sum viewed from
any standpoint whatever, especially when
we consider that 1t Is contribution from
the living for the benefit Of those who will
come after them.
Following Mr.. Dewitt, Hon. j. o. Smith
was called upon and spoke briefly, saying
that since the president and Mr.. Dewitt had
disregarded the injunction not to talk shop,
he should take the liberty of doing so also.
He then gave some interesting facts con-
cerning the duties of his Office in uprooting
underground insurance companies, and Of
the aid which agents could, and often did,
give him.
DR.. Thomas A. Foster was next called up
on, but excused himself by saying that it
was the place Of a medical examiner 70 think
and to weigh matters, but to keep his mouth
shut.
Theodore G. Woodbury.. next called. spoke
for the fnanciers present. He said, after
expressing the thanks of the guests, that as
he looked about him two thoughts sug-
gested by Edward Bellamy's book,
Looking Backward, came to him. These
were competition and the brotherhood of
man. He spoke of the advantages of COM
petition in business, especially in the insur-
ance business, making people take more no
tice OF the great benefits Of life insurance,
and keeping the companies themselves closer
up TO the mark Of efficiency. But here to-
night. he said. we have the competition laid
aside, and the brotherhood Of man brought
over the festive board.
Hon. w. f. Lunt was next called upon,
and gave an humorous personal account of
the benefits and comforts of life insurance.
Mr.. E. A. Noyes also made brief remarks.
An humorous recitation by Mr.. V. Richard
Foss, closed the exercises and the meeting
adjourned.
The following is a complete list of the
leading life insurance companies doing busi-
ness in Maine and represented at this BAN
quet:
Connecticut Mutual.
Equitable, of New York.
Massachusetts. of Springfield, Mass.
Mutual Benefit, of Newark, N. j.
Mutual Life OF New York.
National Life, Of Montpelier, VT.
New England Mutual, of Boston, Mass.
New York Life, of New York.
Pennsylvania Mutual. Of Philadelphia, Penn.
Union Mutual of Portland Maine.
United States, of New York.
Washington Life, of New York.
Provident Life and Trust, Philadelphia.