Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-03-13
BILLIONS ON LIVES.
Some Marvellous Facts Related at a
Banquet Last Evening.
THE LIFE INSURANCE MANAGERS.
Their Third Anniversary Very Profitable
Occasion.
BUSINESSRIYALINGTHE 0. s. TREASURY

The enormous sum of $685., ,0Oo, 900 was
represented at the banquet of the Pittsburg
Life Underwriters Association, last night,
in the Hotel Duquesne. That is simply the
invested capital. The same gentlemen
grouped around the dinnert table were integral
parts of companies which have issued life
insurance policies amounting in the ag-
gregate to over $4,000, 900, 900. The pay
ment of such vast pile of money having
been promised to the public, it is but ma
tural that the public should have some in
terest in the matter, and evince more or less
curiosity about the fnanciers who are
managing accounts which those of Van
derbilt, Gould or the Rothschilds cannot
| compass.
1t was the third anniversary of the asso-
citation existing among the Pittsburg man.
ayers of the great life insurance corpora
tions Henry c. Ayers, its President, was
the master of ceremonies. He sat at the
central table Of the banquet hall, the center
of long line OF guests from other cities-men
eminent in the insurance business. Altogether
there were 100 persons present. This number
included very many local guests.
| W. G. Stewart, of New York, Actuary of the
Mutual Life Company. was perhaps the most
! distinguished guest. Near him sat Major A.
j. Lambert and S. R. Shipley, of Philadelphia.
| W. P. Gennett, diminutive man. but veri-
table giant in finances, represented Rhode
Island, coming from Providence. l. H. Bald
| win, of Baltimore, was giant in stature, and
]. NJ. Patterson, of Cincinnati. kept him busy
with stories. The insurance press was repre-
sented by Colonel c. NJ. Ransom, The Standard,
| Boston; II, c. Martin Rough Notes, Indian
apolis; Investigator, Chicago.
SOME OF THE GUESTS.
The local guests included Judge Stowe,
Charles F. McKenna, ESQ.,, ]. McF. Carpenter.
ESQ.,, Willis Booth. Esq, s. U. Trent, ESQ.,,
Messrs. George A Kelley. s. Evans, ]. w.
Pew, L C. Pershing and other well-known citi-
| zens.
The members of the Pittsburg Underwriters
| Association present were l. Warren Clouse and
H. A. Lavely, of the Etna Company; James H.
| Knapp, Connecticut Mutual; - Oehmler.
| Germania; Cyrus H. Lang, Massa-
chusetts Mutual; F. ]. Lusk. Mutual Benefit;
W. P. Woodbridge, Mutual Life; Messrs. O'Nein
& Lyme, National; W. NJ. Datesman, New En-
gland Mutual; Henry c. Ayers, Northwestern;
]. c. Biggert, Penn Mutual; Benjamin II.
| Iightfoot, Provident Life Trust; w. B.
| 1IaVel6IS, AusIlu edICts OulOu SChs
trail; Edward II. Dermitt, Union Mutual; l. h.
Harris, Washington Life.
Gernet & Gunther's Orchestra furnished ac-
compartments to the clatter of knives and
| forks. Floral decorations the table were
superb. Some of the visitors. who were at the
| New York Life Insurance banquet, in Del
monico's last month, privately said the floral
| work there was tawdry, compared with what
was here exhibited.
The informal reception IN the parlors lasted
| from $50 until $50. procession then changed
the scene of action to the dining hall. The
feast was elaborate, and Mr.. Lang, of the
Committee of Arrangements, claims the credit
for having excluded all French from the menu.
He drew the line at "Duquesne."
THE PRESIDENTS WELCOME.
President Ayres delivered his address Of
welcome after the courses were exhausted and
cigars lighted. He said:
"GENTLEMEN-It is said that there are
three kinds of people in the world-the wills,
the 'won'ts' and the 'cants.' The wills accom-
plish everything: the won'ts' oppose every
thing and the 'can'ts' fail in everything. The
Pittsburg Life Underwriters Association is
made up of the first class 1t has in Its ranks
no 'won'ts,' no can'ts,' but presents solid
front of wills Also, it is actuated and
governed by principle. Lack of principle
means inevitable failure in moral action; as
Dickens puts it: The sad consequence of de-
fection in principle is corruption in practice
This association owes its greatest triumphs to
infexible principle firmly adhered to by its
individual members, who have resolutely with
stood temptation, and with slngleness of pur-
pose have labored for the highest
interest of all. Furthermore, its mem
bers not only recognize the fact that
character makes the man. but also that
character and culture make the gentleman
In competing for business they are not forget
full OF that high sense of honor which engen-
ders mutual confidence and trust and are not
deficient in that finer quality which dis
tlnguishes one man from another and entities
him to hear without abuse the grand old name
of gentleman
Possessing, therefore, three essential ele-
ments, win to impel and enforce principle
harmonize, 1t is not surprising that our Asso-
citation has been eminently successful.
Three years have passed since we entered
upon our course of reform. In this period
great and desirable changes have been
wrought. Giant wrongs, which, in times past,
seemed invincible, have been overcome, and in
place of these, forces and influences are at
work for the continued promotion of our best
interests.
NO MORE REBATES.
''The 'Anti-Rebate' bill now before our Legis-
lature, which is a long step in the right direc-
tion had its origin in this association, and if
passed land we trust it will bel will effect a
much needed revolution in methods and result
in inmeasurable good to companies agents and
assured throughout our State.
From date of organization our meetings
have been, without exception, harmoni-
Gus and profitable. AS agents we have
been greatly benefited. Fraternal feeling
and good will now prevail instead of
petty jealousies and rivalries of past
days. Our work has been prospered in
a marked degree. There have been millions
in it [for the companies) and not cent of re-
bate. Our business has risen in the estimation
of o11rn natr NVh0 fraafqd all qlilxa h.
out discrimination or partiality and has rap
idly increased in magnitude, dignity and pub
lie favor. In short, our work has been earnest
thorough and effectual. In view, therefore. of
our gratifying past, we esteem it beftting that
we meet on this. our third anniversary, for con-
graduation, exchange of thought and expert
ence, and thus will we derive pleasure and
protit and gain new inspiration for the future.
'.Honored guests-In behalf of the Pitts
| burg Underwriters Association, take great
pleasure in extending to you most cordial
| distance, we desire to express our hearty ap-
probation of the interest you have manifested.
We nope tine occasion may De much enjoyed,
and that it will be long and pleasantly remem-
| bered by all.
THESE ASSOCIATIONS.
Pittsburg organized the second association OF
underwriters in the United States Boston had
| the first. AS the originator of that, and al
and as father of the idea everywhere, Colonel
Ransom was introduced next. He explained
the usefulness of such unions and gave the de
tails of the movements origin. He predicted q
national organization of underwriters in the
near future, which will not be merely to in
huence legislation, to corrupt officials, but tc
advance the great principle of life insurance
He declared that no other business can pro
duce such marvellous record. 1t has not only
maintained itself for As years. and paid all ex
penses ITSELF but it has given s16OOOO,OOO more
| TO policy holders than they ever paid the com