Los Angeles herald., 1893-01-11
THE BANKERS ALLIANCE.

THE BANKERS ALLIANCE.
Their Regular Meeting Yesterday After
| noon.
The above we'll known and popular
Life and Accident Insurance combined
held their regular meeting yesterday
afternoon. The secretary, Mr.. j. N.
Russell, jr., rendered his annual report
to the officers and members OF the
alliance, which was a most satisfactory
one, and fully met their appreciation.
1t stated the amount of business done
during the year 1892, calling the officers
attention to the lucrative patronage
that had been bestowed upon the alli-
ance during the past pear. In speaking
OF its progress it proved that the show
| ing would establish the fact that no
backward step had been taken, but on
the contrary, q rapid stride had been
made forward. During the year 1887
policies were issued, making a total
Of 3S17 to January 10th. This
lacks only Al OF being double the amount
written during the year 1891, and is
more than one-third of the entire num-
Der issued elnce date of organization.
The cause of the immense growth is due
principally to the fact that the peo-
pie are beginning to realize that the
Bankers alliance is reliable and per-
manent institution and that it il pre-
ferable TO secure their life and accident
| insurance at home at cost, rather than
pay exorbitant premiums to eastern
companies. In new fields they have
successfully entered during the past
year, Northern California, Colorado,
Utah and Arizona, by 30 doing, their
risks have been scattered and heavy
| mortality on account of local epidemic
| is largely avoided, only healthy districts
| arelooked to and rigid medical exam
instion is required. The manage
| ment is under careful hands.
| The board of trustees are conservative
and economical and to them is due much
praise for their efforts in promoting the
| interests of the concern in every direc-
tion. They have been the means OF
calling special meetings to advancing
| the good of the alliance, many special
meetings have been held and the con-
| clusion arrived at was to add new fea-
ture to the policy, viz: that should a
member become permanently and
| totally disabled, upon the surrender of
the policy, one-half of it's face value,
$1250, will be paid. This apparently
seemed to be of more benefit to it's
| members, and succeeded in forming a
great benefit to those interested, q
| policy entirely new in the insurance
world, and surely puts the Alliance in
the very front rank of liberal and pro-
gressive insurance associations. The
report of the insurance commissioner
states that the average OF the members
| OF the four largest life associations
| in America is from 42 to As years.
| While in the Bankers alliance it is only
38 years for the entire membership, and
| for the members received during the
past year it is only 35.8-10o. The acci-
dent indemnity clause in their policy is
| due for the large accessioEs of desirable
| young risks. The mortality in the alli-
ance has been less than one half of one
per cent. which is less than for two years
previous. This is an exceedingly fine
showing when other well-known estsb-
lished companies consider that when
their death rate is not more than one
per cent. no to 10o0) it is not more than
nominal. The cost of insurance to the
members has been less the past year
than during the previous year 1891,
| which was then considered extremely
| low. This statement cannot fail to be
appreciated when it ia q known fact that
the cost in an "old line" company is
| $2S. 80 per $1,000, more than three times
the cost in the Bankers alliance. The
expenses of the Alliance is most gratify-
ing to the officers, which is much less
than for the year 1891. Yet the amount
of new business done is about double
that of 1891, and it should also be re-
membered they are doing a business
| generally transacted by two separate and
| distinct corporations, that of life in
| surance association and that of an acci.
dent association.
The record of the Bankers alliance
for 1892 is indeed gratifying 1t shows
all death losses have been paid promptly
and in full. There have been no con-
tested claims. No claims due and un-
paid. An honest, faithful and pro-
gresHive management, and cheap
and reliable life and accident in
surance combined. endorsed by the
best class of citizens OF Los Angeles and
elsewhere. With such record the
Bankers alliance will surely become
more popular; it is daily gaining the
confidence of the public. Its total re-
ceipts the year ending Dec.
81, 1892, is So, ,869.85, while
its disburse ments were $4,000. l3.
1t is pleasure to note the progress of
such company, and it should be fully
endorsed by the public. The following
we'll known gentlemen constitute its
reelected officers: President, Gen.
E. P. Johnson, vice-president, DIR.
W. G. Cochran; second vict :
| president, J.. NJ Elliott; treasurer,
F. @. Howes; superintendent OF
4 agencies, j. N. Priest; medical in
spector, Fl. H. Maynard, NJ. D.; attor-
ney, Judge VIM. P. Gardner: secretary
III. N. Russell. jr. The Bankers ALI
ance have their commodious and cen.
trally located Offices situated in the
New Wilson block, corner First and