The Bennington banner. [volume] (Bennington, Vt.) 1858-1894, 1892-02-26
'THINGT0N,
BENNINGTON, VT.
NEW YORK LIFE.
GENERAL AGENCY,

NEW York LIFE INSURANCE COMPANY,
SPRINGFIELD, Mass, Feb. Is, 1892.
GREETING
We feel entirely confident that you
fully coincide with us in admiration of the won
derful financial growth, strength and progress of
our great company during the past year. The al
most astonishing and significant array of facts
and figures evolved from conditions and tests
which would have involved disaster to many a
great financial institution. is herewith presented
for your careful perusal and ccntemplatiOn
The Report of the NetO York State SuDerintend-
ent of Insurance, Published Jan. %, 1892. ShOlOs
Assets June 30, 1891. per Superintend-
ents Report ................ Sl2JIl 1890
Assets January l, 1891 per Company's
Surplus June O,iS9i per superintend.
enps Report 4708 6T5
Surplus january l. 1891, per Com
panys Report. .......... 4S9S, 45O
The above surplus-as shown by the Supern.
tendent's Report is Larger than that of any
other purely mutual Lie Insurance Company in
the world
Assets January l. 1892 per COnpany's
forthcoming report, nearly ..... 1925 900 oNo
Gains during iSe1-Assets .......... 10 COO, 600
Gains during lS9l-Surplus ........... lOOO.OO0
New Insurance, secured in 1891 ...... 10000 900
From the late conflict with the most violent,
persi~tenr and vindictve assaults ever waged
against any Life Insurance Company the old
Reliable" emerges with assured ami triumphant
supremacy; Vim H. Beers voluntarily retires
from the presidency to assume less onerous
duties in an advisory car acty with the company.
His resignation is based upon the following reP-
sons
New YORK F b. 9Th, 1892
TO the Board Of Trustees Of the Netc York Life
Insurance 3d..
GENTLEMEN-As you all know | have nothing
at heart but he continued welfare aud prosperity
of this company, to which l have devoted the
best years of my life. have no personal ends to
serve. but at my a lvanced age, and in my pres
ent state OF health, require relief from the very
onerous laborS OF the presidency, and but for the
long continued aud persistent assaults upon
the Company, which have been chiefly directed
against me personally, should long ago have
asked you to tighten my labors. also recognize
the fact that su h assaults. however unjust may
in the end prove detrimental to the COnpany's
interests, |. therefore, hereby lender my resig
nation of the office Of President to TAKE effect
"edYG eaT. {. February 10Th 1872 Rrpps p.
The Trustees accepted the resignation and
unanimously commended his great and useful
services, his integrity and fidelity to the Com
paay as follows:
Resolved. That this b ard accept with regret.
the resignation of VIM. II. Beers as president of
this company, to take effect on Wednesday next,
Resolved, That in accepting such resignation,
this board desires TO place on record its high ap-
probation OF the very valuable services rendered
by Mr.. Beers during his long connection with
this Company, the wonderful growth Of the Com
pany and lis present position among the greatest
financial institutions of this country being due
very largely to his pre-eninent ability and zeal
ard this Board desires also to place on record
its confidence in his integrity of purpose in man
agini the important interests committed to his
charge.
Resolved, That this Board deem it highly I'M
desirable that this Company should lose the ben
eft of his great knowledge, skill ability and ex-
perence. Therefore. the board authorizes an
agreement to be made with Mr. Beers. to secure
his services during the remainder of his life in an
advisor capacity.
Hon. John A. Mccall tcas on the 12h inst, IMAM.
inn1ltSiy chosen BY the Trustees, President of
And, subsequently was most cordially welcomed
by every officer and general agent of the Com.
pany. also bv the press, insurance departments
officials and fraternity of the country. The new
President was formerly tate Insurance Superin. |
tendent Of New York. Mr., Mccall is widely |
known and favored for his thorough knowledge |
Of insurance and brings to his exalted trust per
feet health, integrity and capacity, coupled with
the vigor OF the prime of life. From his address
TO his associate officers general agents and man
ayers, we quote as follows: We are bound in |
honor to exert ourselves absolutely in the inter
ests of the policy-hUlders Let there be no mis-
take about this conception of our duty. So far as
in lies this shall be the controlling motive of
my administration. am sincerely Of the opin- |
ION that VIII have the support and assistance of
each and every trustee. II not will not hest |
tate to make the issue. 7 stand here uppledged |
to any man or set of men In the slightest particu-
lar No person. high or low. has exacted nor |
power or emolument under my administration"
THE agents and managers join, in this meet
ing who gather the funds that we held in trust,
they above all others. are vitality interested in
honest management. To me II is marvellous, when
we consider the unparalleled trouble through |
which the Company has passed, that they have
been able to accomplish So much. They have
he admiration and respect of the profession
everywhere. Nay, more than that we must show
)ur appreciation Of it in no uncertain wayn
In place of four trustees resigned and deceased
he following gentlemen will be in the Board; the
Hon. Chas. S. Fairchilds ex-secretary u s Treas
Try; Woodbury. Langdon: Hon. VIM. c. Whit
ley ex-Secretary U. s. Navy, and f. D. Ran
lolph. Thus equipped, inviting and deserving
he valuable influence of every policy holder, |
The New York Life Insurance Company SUSTAIN
ID by this magnificent financial and executive ex-
with its splendid history OF pay
nents to policy holders, Sl60 900 900 praised BY
Is late opponents beloved by its friends-will
70 forward in "a noble mission grandly fulfilled"
o even a more glorious destiny. We Join you in
incere congratulations upon the accomplished
'ast, and salute with you the dawn Of a more
brilliant aud inspiring future.
Faithfully yours.
A. p. CIIILDS,
4 p HADLEY,
General Agents for Vermont and Western MassR