Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-01-29
LIfE-INsURANcE co. OF VIRGINIA.
Annual Meeting of the stockholders
Gratifying Report of the President.

The annual meeting of the Life-Insu-
rance Company of Virginia was held at the
company's Office yesterday.
The old board. with the exception of
Professor L. b. Smith. deceased, was re-
elected as follows: T. William Pember-
ton, General John Il. Cooke, G.. A. Walker,
Everett Waddey, John G.. Walker, Major
George Johnston, of Alexandria; w. j.
| Walker, Colonel +. II. Cameron, of Ra-
leigh, n. c.: James Peasants. and James
w. Pegram.
The old officers were reelected, as fol-
lows: President. G. A. Walker; Vice-Presi-
| dents, Il. William Pemberton and John G..
| Walker; Secretary, James w. Pegram |;
| Medical Director. III. Cabell Tabb, NJ. ID. (;
| Actuary, d. Parks Fackler; Counsel, John
| A. Coke.
The reports of the various departments
| disclosed very favorable condition of af-
fairs and large increase in the company's
business. A semi-annual dividend of 5 per
cent. on the capital stock of the company
was declared.
The following report of the President was
unanimously adopted, as the report OF the
| directors to the stockholders:
| The upbuilding aud establishment Of large
| and successful Iife-insurance company 10 these
/ days Is a work Of no ordinary magnitude, yet
| the efforts OF the management OF this company
have already been so far successful that the Life
Insurance Company OF Virginia may now be
| reckoned smong the strongest insurance institu-
| tons OF the country.
The past three years have been devoted chief
| ly 70 ehecting perfect organization for neld
| work. the result being corps Of trained and
| faithful men, Of which any company might we'll
| feel proud-whose work has enabled the COM
| pany 70 present to-day the best annual state
! ment In its history, showing gross income OF
t5OS7 269o-an increase over the previous year Of
more ihan $4,000 In premiums received, over
| $4,000 Increase In assets, and nearly $4,000 ad-
| ded TO the surplus OF the company. Tho busi-
ness on the books which yielded this income last
| yebr will give the company an additional Income
| Of about $4,000 during 1891. AS this business
has been paid Tor, the company Is prepared "a
do much larger amount OF new business this
year than was secured during 1899, 40 It may be
| safely predicted that the income for the year
1891 will be over 100000.
Over $4,000 was returned by the company 10
| its policy-holders during 1880 In payment OF
death claims, endowments etc, being an In
crease Of more than $4,000 over the previous
year The bulk Of this sum was distributed
among nearly six hundred families through the
/ Industrial branch, anording relief absolutely
understandable in most OF our territory except
from this company.
In this connection attention Is directed 10 the
steady growth and handsome results attained
by the Industrial branch. To successfully con-
duct an industrial insurance business requires a
careful special training, as we'll untring yigi-
| lance. perseverance,. and patience. This de-
partment OF the company collected last year
tlO5UUU. yielding q net surplus OF 10 per cent
| after increasing the business In force 30 per
cent In view OF the -zAny unsuccessful At
| tempts which have boon made from time 70
| time in various parts Of the North 10 establish
| Industrial insurance companies, even with the
aid OF large capital, Il Is matter Of congrstuia-
ton thai this branch Of oar business Is we'll.
grounded as that OF any OF the oldest insurance
compaaies IN the country
! During the past year an entirely new feature
/ has besu added 10 the business OF the company
one which promises TO enlarge It's field OF useful
ness 70 an almost unlimited extent After a
| careful investigation, II was found that pure
| tontine endowment policy, without life indem-
| nifty. would work out results equal II not supe-
rior 10 any building and loan association-thal
| In fact u would furnish to the public specific
/ promise 70 pay a definite sum az tho end OF .
| seected period, which period would be short.
ened By applying the tontine profits 70 matur.
Ing the contract, instead OF adding them TO the
4 face OF policy as Is the usual way.
The success OF this endowment building-fund
| has led the management 10 have II energetcally
| prahed during the present year.
| The sudden death last July OF Professor K. Il.
/ Smith, the aetuAry Of the company, created a
vacancy which was exceedingly difficult 10 fli
| The company IL, therefore, very fortunate In
having been able 30 socure a. It's actuary, Mr..
| II. Paris FacKler. OF New York city, who 10 one
| OF tho most pFomnest aetuaries In the country.
| In ciosing this report Of the most prosperous
/ year the company has ever had, 10 "a gratifying
10 state the fact, that the sssets are now SsiG,-
0l7,S3. and that the surplus TO policy-hoiders on
q ~ per cent basis Of reserve 10 sisA 4lale
| Respectfully submitted.
| q. A. WALKER, presidsnf