New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-24
IN THE FLUSH OF PROSPERITY.
GAINS IN ALL BRANCHES OF THE PROvI-
DENT SAVINGS LIFE AssUR-


The Provident Savings Life Assurance Society
Of New-York occupies conspicuous position
in the field Of life insurance Founded in 1875,
II looks back upon a successful career OF twen-
ty-three years, DURING which time It's develop
nent has been remarkable From the first year
Of business it has been growing In popularity.
until at the present time II has Insurance In
force to the extent Of over SSSOO00oO It has
paid more than S15OO0OOO TO policy holders
since its organization. and its treatment OF
policyholders has at all times been most liberal
A recent examination OF its affairs by the New
York Insura nee Department shows a most sat-
sfactory condition. and the management was
commended for the conservative methods en-
poyed In the conduct OF the corporations af-
fairs"
The present period in the history Of the Provi-
dent Savings Society dates from December
1896 when change In the mana cement was
made through the election Of Edward w. Scott
as president. Mr.. Scott brought 10 the office a
ripe experience acquired by long term Of SER
vice as vice-president in one Of the leading life
insurance companies OF the world. He had been
an important factor in the upbuilding Of the in
stitution with which ne was SO long connected,
and the practical insurance knowledge
auired made him unusually well equipped for
the important duties which he undertook. Since
his connection withthe Provident Savings Society
the company has mad, exceptional Roadway.
and It's success in obtaining new business is
largely escribed 70 the ability Of President
Scott in finding the best men for field work.
and then keeping them.
The very first years work under his presidency
showed substantial gains along ali lines. There
were gains in the amount Of insurance written.
in outstanding insurance. In premium income
and In assets Under the present administra-
ton the agency force Of the company has been
brought UP 10 a high plane Of efficiency. 1t is
said 10 be one OF the best representative bodies
OF insurance solicitors In the United States.
Last year the new business written BY the rep
resentatives CT the company amounted 10 more
than S25O0O0O0 which was not only In excess
of the new business written in any previous
year. but was equalled only by few Of the
largest companies. Such were the results OF the
first full year o. the administration. and
IL should be borne In mind that these results
were obtained in year when prosperity was
only beginning TO return The companys ousi-
ness during the year now closing began under
nlost suspicious conditions. and there is every
reason 70 believe that when the books are bal
anced for the current year there will be even
a better showing than was made last year
,orms - noIjcv contracts. and ha. adjusted old
and tried plans 10 meet the existing require
ments Of the assuring public the business
mans policy Is striking example OF thls as
we'll as are ,te income and partnership policy
contracts. Space does not allow elaboration OF
these several policies Suffice II TO say that this
company's management has a peculiarly recep-
tive idea OF what the public wants, and the
demand for forms of policies more FUZZY cover
ing the needs Of these times Of energetic Dust
ness and enlarged prosperity Is fully met
Briefly. in conclusion. its policies are moaern,
with plans adapted 10 meet the wants OF All
classes desiring insurance -
From, a conservative point Of view the Provi-
dent savings Life Assurance Society Is among
the hest IN the land ard II is cheerlully recon-
mended 10 those desiring GOOD ana uus'"o''"'
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