The times. [volume] (Richmond, Va.) 1890-1903, 1897-01-14
~ IMMENSE BUSINESS.
Facts and Figure. That speak in Favor
Insurance.


Colonel John =. Cary. Of the North
western Mutual Life Insurance Company
was interviewed on the situation in in
surance circles during the year, and gave
some interesting facts and figures on
the subject. Colonel Cary said:
Events crowd SO rapidly upon each
other iu This rushing age that few pes-
pie have any adequate conception OF the
magnitude of the lie insurance business
in this country.
"When il is known that the total
amount Of Insurance I'm force Is more
than half of tine capital invested in the
railroad OF the United States, that the
aggregate assets Of our life Insurance
companies are more than twice the capi-
tai invested in the manufacture OF iron.
steel and glass. more than one-half the
total money in the United States, APP
prOximatiug the total amount in cir
culation, that they are greater than the
total deposits OF all the National banks
in the tWenty-six reserve cities, that th-
annual income of the American COM
panles for 1876, exceeded the total pro-
duct OF gold I'm the world for thai
year by Sj3 O00 go: and that the total
paid policy holders. after paying all eX
ptnses. exclusive Of the reserve required
more than s6O00.OO) I'm excess OF the gold
and silver product or the United States
for the same year: that the amount paid
policy holders iu the last three years eX-
coed $50 10000. that the total amount
PAID since the war very nearly equallcd
the total deposits Of all the National
banks Of the United States; and that
the total disbursements for 1895, in pay
meut Of death losses, endowments and
dividends 10 policy holders was over
hall "a million dollars a day 81 will readily
be- ACKNOWLEDGED that II IL the grandest
institution Of the age. and emphaticallr
the benefaction OF this nineteenth CEN
fury so prolific I'm invention. discovery.
and everything that tends 20 the anchor
alton. advancement, and elevation OF
humanity.
Its contributions being gathered 10
small streams OF from SO up 20 $1,000 from
a multitude Of sources IL may rightly
be described as the financial Mississippi.
whose distributions in time OF woe and
suffering visit the homes OF millions OF
people. These statistics apply only 10
regular lite insurance. Counting as
scssmcnt and fraternal orders they would
probably bo doubled
The first policy on record was issued
in 1870 AZ Florence Italy. on the life Of
Sir Brother Ferdinand. I'm favor OF Clio
yanni Bellesta. the premium being three
fourths per cent OF the amount writ
ten. Its progress ar first was slow 30
that 10 was not until about the middle
Of the present century that II became cs-
tablshed in this country. Now its bus!-
ness is co-eXtensive with the limits 0f
tho civilized world. Intended al first
as simply anording protection 10 the de-
pendent, it is now regarded 10y the rich
est In our land as Offering likewise safe
ana profitable investment. so that there
are men I'm this country. as we'll as i'm
England. who carry from ono TO one and
a half millions OF dollars Of insurance.
with annual premiums Of from $1,000 10
$1,000
AT the close OF the late war there
We're about thirty level premium COM
panios. with about 5000 10000 of insurance
and assets slightly exceeding $4,000 eco.
At the close Of 1895. these figures had in
creased nearly ten-fold
with these facts generally known. the
public VIII gladly recognize the beneh-
cence OF an Institution which shares alike
In the adversely. as well az the prosperity
or inc people. who are its largest credi-
tors. ~ well as debtors. and therefore.
Interested in everything that affects It's
welfare. During the las. few years the
business-has suffered from the uncertain
financial condition Of the country: but
there are already indications that when
this has become settled upon some sure
basis. ii Will continue 10 increase and
expand with the advance OF civtliza-
ton, ana afford the surest protection 10
the poor and weak. as well as to the
rich and powerful