The Delawarean., 1900-05-02
A BRIEF HISTORY
OF THE
GREATEST COMPANY
THE WORLD HAS
EVER KNOWN.


stitution in the World" and its mag
nificent record entities it to this dis
tinction. At the present time its avail
able assets amount ito more than $301,-
100000. or 1906, 100000 of francs. All
this vast sum has been accumulated
during period of fitty-seven years.
1t is held in trust for the benefit of all
it's members who are the policy-hold-
ers, and is carefully invested in ac-
cordance with the requirements of the
Department of Insurance of the State
of New York, and of the various gov
ernments of the countries where the
Company is represented by its agencies
1t is not easy to comprehend the
vaStness of this Company's resources
by mere statement of figures, but a
comparison with the great banking in
stitutions of the world may assist the
reader. For example:
Capital of the Bank of
England, December 31,
$780,. ... -. $S6,O47, 1886
Capital of the Bank of
France, December 81, 1899 S6,O5O, 900
Capital of the ImperialBank
of Germany, December 81,
1S99.. :. ....... ...... 2S,56O, 900
Capital of the Bank of Rus
sia, December 81, 1S99... 25,714,920
lOJdl. 9l 10, IS :, 800
Funds held by The Mu-
tual Life Insurance
Company for the pay
fnent of its policies,
December 81, 1899. :. .$301 S44 ,537 SO
Or, $125, .6S252 more than the
com bined capital of four of the greatest
national banks in the world.
In 1S43 The Mutual Life Insurance
Company began business without a dol
lar of capital A number of gentlemen
held a meeting and each agreed to sub
scribe for certain amount of life in
surance in the Company, and the pre-
miums they paid for their respective
policies formed the financial basis upon
which to establish the Company's fu-
ture business. The mutual plan" was
agreed upon. There were no shares OF
stock and no shareholders to receive
any portion of the surplus which then
as now belonged solely to the policy
holders, and was to be distributed as
earned among the insured in the shape
OF dividends. These dividends paid to
the men and women insured in The
New York since 1S43 amount to $780,
1OS, $50.
These wonderful results arose from
the confidence of the insuring public
in plan that was Endorsed and carried
out by men of integrity and financial
ability The Board of Trustees in
which the management of the great
corporation is vested has at all times
been composed of representative men
prominent in the nations history-Gov-
ernors of States, bank presidents, Sem
ators, Generals, Judges of the Supreme
Court, lawyers, merchants and finan-
ciers whose probity and integrity are
known and honored by the general
public throughout the United States.
The first years business of the Com
pany is thus recorded in its annual re-
port:
Received for premiums. 80. ..$97 ,29S
Policies issued. -. .. 47O
For the year 1899 the record reads
thus:
Received for premiums. 44,524 ,519. %
Policies issued. :. -. -. -. 81 1913
The distinctively mutual plan and
the conservative methods of the Com
pany have always favorably appealed
to the best elements of the American
people. The Board of Trustees-the
governing body-are annually elected
by the policy-holders, and the Trustees
appoint the officers. Every policy
holder is a member of the Company
and by virtue of such membership is
entitled to vote without regard to the
amount of his insurance.
In 1888 the assets of The Mutual Life
amounted to 100000 900, and the even
was regarded with great interes
throughout the financial world of tht
United States. The President of tht
Company at that time, Mr.. F. S. Win
ston, in presenting the annual repor
to the Board of Trustees, said:
"And thank God! it is clean pile
large as 1t is Not dishonest dolla
in it. Oppression, trickery, deception
usury, sharp practice, have not addev
a penny to its accumulation. We hav
had this simple watchword for ou
guidance-equity; and MO man, womal
or child can truthfully charge thi
Ton,nor,rr xui+1, -ro11rntar.iIv xvfthhoIdin