The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-20
A SPLENDID COMPANY.
Which Promptly Complied With all
the Insurance Laws of the State


the Insurance Laws of the State
The following article. copied from the
Spectator the Leading insurance journal
of America, gives SEINE facts regarding
the Phoenix Mutual Life Insurance
Company, of which r. r. Hay and
Brother of Raleigh are General Agents:
Among the fifty and more regular life
insurance companies operating in the
United States we fnd all conditions OF
progress. Some are young and pushing
i'll Their methods, with the result that
they are speedily outstripping them. old
or competitors; others are 50 far i'm adj
vance that il seems almost impossible
to overtake them; some are apparently
dormant, contenting themselves with
writing just about enough new business
annually to offset the examinations, and
finally, there are companies of long
standing and high reputation which chi
hate years have been rejuvenated and are
now securing Il volume Of business which
promises to bring them in point of size
TO the position to which their prestige
entities them.
prominent among this latter class OF
companies is the old Phoenix Mutual
Life Insurance Company Of Hartford,
which during the past ten years has more
than doubled the amount of business ON
its books At the close OF 1899 this
company had some 17,1G0 policies for
S23, 800, 464 and during THAT year wrote
new business amounting TO only $1,449,
1S3. Each year since, however, has
shown steady increase both in volume
of new business and in the amount of
Insurance i'm force. In 1894 the new is
sues passed the ten million dollar mark.
and the amount in force mad been i'm
creased to $36,3S1 ,049, Indicating a gain
of over fifty per cent for the five years.
The year 1898 produced over S13,250, 600
in new business while the insurance
in force reached sol 40, 1872, or more
than twice the sum on the books at the
close of 1889. The premium income,
which in 1889 was slightly under $3.50.
600. was more than 81 100000 in 1893,
and for 1893 reached $1,920,1S5.
In order to show this fine record of
progress, it is hardly necessary to say
that the management mast have BEEN
progressive and active to a marked de-
gree. The companys officers have striv-
TN to give the public the best in the WAY
of insurance contracts which could be
devised, and, as the records show, there
has BEEN no lack of appreciation. Adapt
ability hest describes the policy contracts
Of the Phoenix Mutual. which provide
for tine protection of the inSured's de-
pendents during the productive period
of life and meet his personal needs in
later years when the necessity for pro
lection has been lessened. The COM
pany issues a number of such forms
suited to the requirements Of the vary
ing needs of all classes of insurers.
As policyholders' company the Phoe-
nix Mutual has long occupied an en-
yiable position, its returns to members
being on very liberal basis. Since its
organization in 1851 it has received from
policyholders 47,645,260, has returned
to them or their beneficiaIies $50, 4T6,-
271, and now holds for their present and
future protection $11 ,660,1 3l. In addi-
tion to paying all expenses off manage
nent from the interest receipts the sum
paid out to poicyholders plus the as
sets now in hand exceeds the receipts
from policyholders by S3,49l, 142.
The Phoenix Mutual, rs shown by its
increasing business lis becoming more
W1UNuy kHON1 PdCu gtttls fVliu the liht'i
ayers may be depended upon to keep it
moving. President j. b. Bunce has
oeen connected with~the company since
1872, when he was elected h director
He was made yice-president in 1875, and
president i'm 1889, since which time the
company has come so prominently to the
fore. John NJ. Holcombe, the vice-pres-
ident, has recently completed "A quarter
Of century with the company, the last
ten years in his present position. Sec
rotary Charles II. Lawrence has a rec
ord of twenty eight years with the COM
| pany, and has risen from clerkship to
has present office. Other officers are:
Archibald A. WEIGH, actuary; VIM. A..
Moore. assistant secretary; VIM. ID. Nor
gam. NJ d.. medical director. and Geo.
$. Miller, superintendent of agencies;
while among the directors are to be
| found some Of the most prominent men
| of hartford and Connecticut