Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-03-13
master deneIal nov carrie. $4,000 on ~.

life.
RIvALING THE GOVERNMENT.
''The Magnitude of Life Insurance was the
subject Of an able address by w. +. Gannett,
of Providence. ,
LESS than so years have elapsed since theprim
tive bark of life insurance was launched upon
the waters to make for itself name among
the financial institutions of this country. For
some Is years it moved along in quiet way,
attracting little attention from the public and
less from State Governments, until it gained
such proportions as to finally command Their
attention, resulting in the formatlon Oh What ls
known as State Insurance Departments. The
business of life insurance to-day STANDS at the
head Of all financial institutions in the country.
rivaling the United States Government in its
"in 1855, the entire business of the country
was .T Po BY 1Sos I0Ses Of y
5S9 and assets Sl7, ,446,455, the surplus OF which
was 81 40, 57L With what sad memories we re-
call the experiences of the next ten years when
cruel war reared its head, arraying
brother against brother, carrying thou
sands of our loved ones to an early grave.
Oh how many. times in those dark days the
question came to us, will the GoyeTnment
live?' Thank God, it did live, as did also the
business of life insurance, and we stand IN l66o
with 5AS $50 policies, covering @ Sgg ~ IN
surance, on which the income was Sd1,Zi9,l4o
and assets SIZE, 554, 426, with surplus of over
S25, 1887.
ALMOST FABULOUS NOW.
"During the next ten years the country was
called upon to pass through one OF the most
severe financial disturbances ever known. re-
ferred to even now as the paIic to which was
added the yellow fever scourge, still we
emerged from these ordeals and find that.
while there was slight loss in the amount OF
| insurance in force, we gained about 5U,OOO In
the number of policies, covering u, S59 oo1
insurance, with an income OF over SiS,-
| 2S0,04 and assets S396, 1IO9o4, on winch
the surplus was S4l, ,5O2,9 ,97S. On the first Of Jan
uary, 1889, the Life Insurance Companies of the
| United States have over 1,25O.OOO policies on
| their books, covering S3.l7306S,364 insurance,
79 ca gu snd syrnDs nj Of about ooo soo1 enJ
even these figures do not include what is known
as industrial business,
THE new business written in 1888 amounted to
over $2,723 900 for each secular day in the year.
the amount being SSH, ,057, ,9l3. While review.
| ing the work of 1888, let me add there was paid
to policy holders during the year, SIC, ,246SS8.
Think of it! Nearly S255.OOO paid out every
secular day during the year.
SOME PRETTY CoNCEITs.
w. P. Stewart. of New York, told about
''The Life Agent" He described the ascent of
Mt. Blanc by travellers long ago. when a
misstep meant swift and certain death. But
after while the idea of a dozen travellers,
with the guides intermingled, and all chained
together was tried. Then when one man made
a misstep the chain held him and life was
| saved. This Mr.. Stewart said was the embryo OF
''the life agent'-the physical conception OF
the life assurance principle. He is the great
| equator of modern times.
s. r. Shipley, of Philadelphia, described
''The Dignity of Life Insurance" The gentle.
man stated that the last time he was in Pitts.
| burg was in 1876. Then he came across the
mountains in stage. Then Pittsburg was q
lrr;11 hn haA hon inn
extensive mills and factories and saw with
awe how the village had grown to the dignity
of a great city. This growth he hkened &c
| that of life insurance.
| reply to toasts. quartet, composed OF
Messrs. E. H. Dermitt, ]. S. Vogel, E. Edstrom
/ and H. Z. Westervelt, sang "Good Night"
room was deserted, but early this morning
each and every life agent" will be found in his
Office ready ITO talk insurance"