Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-03-10
EMPLOYMENT WANTS.
--~-~-~~-0S-
AGENTS WANTED FOR THE
MARYLAND LIFE-INSURANCE COMPANY,
IN VIRGINIA

IN VIRGINIA
Appointments will be made for Counties
or Districts.
Assets Isl, S62Si2 n surplus. ...... S362, lsS
The company has no general agents TO
control a whole State, but the Local or
District Agent receives the full commits
sionS and renewal commissions usually
paid 10 a State agent. This company mas
been transactlng business in Virginia
for more than thirty years. For the in
formation of its pOlicy-holders, and OF
those who desire 10 become agents OF the
company the comments of the Baltimore
Underwater on the last annual statement
are published below.
Contracts will be made with persons
who can devote d portion of their time
10 the business. Address the HOME
OFFICE, 10 South street, Baltimore.
From the Baltimore Underwater, Feb
ruarY y, 1881
The statement OF the Maryland Lie
Insurance Company Of Baltimore, pup
ished in another column, merits the care
full attention of every one interested In
the history and development OF life lnsu-
rance in this country, because IL SHOWS
what genuine success can De alIdlneu py
a small company, when managed on pru-
dent and conservative lines. rounded
-hlrty-three years ago, generation mas
passed since ii began TO DO business, ana
during that period it has experienced all
the vicissitudes which have come TO the
financial world. encountering among other
things two notable panics which snip
wrecked many other corporations ana
commercial ventures; and yet during all
these years it has continued 10 increase
its assets and maintain at the same tlme
a large surplus as additional security TO
It's policyhOlders. AS Will be seen from
it's statement, the bonds and stocks held
by the Maryland which form large part
Of its assets, have market value OF over
per cent. in excess Of their par value.
The total amount loaned on mortgage IS
also well secured, being a first lien on
property valued in the aggregate by the
company's own appraisers at more than
-hree times the face of the loans. II is
interesting here to note that out of more
than 100000 loaned on mortgage alto
gether the company has only been
obliged 10 acquire under foreclosure eight
pieces of property valued at $1,000 and
i've of these are now under rental
The total amount of assets so far eX-
ceeds the liabilities with reserve fund
-eckOned on the American Experience
Table Of Mortality and AZ per cent. inte-
rest-the legal standard i'm Maryland-as
10 provide a surplus TO policyhOlders OF
4 per cent, or in other words, for every
dollar of Indebtedness by this standard
he company has Sl.2i Of assets. But while
"a per cent is the legal rate, the Mary
and has for its own purposes always
maintained a more rigid standard, and
calculated and kept its reserve on 4
per cent. basis With such a reserve, the
surplus is nearly is per cent of the total
liabilities, or, put in another form, the
company has $.lS i'm assets for every
dollar Of liability. Still further TO demon
strate it's soundness the calculation has
also been made this year for the purposes
of comparison. on the yet more rigid
standard of 3l5 per cent interest, and
even then, the Maryland can show more
than Hn in assets for every dollar OF
liability a percentage of surplus that
not few companies do not exceed on the
l per cent. standard.
The results thus outlined have been at
tanned by prudent management, the deter
mination TO do no business, save that
which can be obtained within q reason
able limit Of expense, by careful selection
of risks, and by cOnservatively restrict
ing its insurance to $4,000 on any one
life. Yet, with all Its conservatism the
Maryland has been liberal I'm the hest
sense, as Is shown by the striking fact
that, although in one form or another il
has paid &.@OOO to it's policyholders. it
has never yet had 10 maintain a single
suit in court over a death claim NH IO-2t