The Delawarean. [volume] (Dover, Del.) 1859-1927, 1900-04-14
A BRIEF HISTORY
OF THE
GREATEST COMPANY
THE WORLD HAS
EVER KNOWN.

LIZ wv Oh LIZ Iii AS
EVER KNOWN.
The Mutual Life Insurance Company
OF New York, has for many years been
known as THE Greatest Financial In
stitution in the World" and its mag
nificent record entities lit to this dis
tinction. At the present time its avail
able assets amount to more than 1901. =
100000, or 1,505, 100000 of francs. All
this vast sum has been accumulated
during a period of fifty-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 it's agencies.
1t is mot easy to comprehend the
va.stness OF this .Company's resources
by mere statement of figures, but
comparison with the great banking in
stitutions of the world may assist the
reader. For example:
Capital of the Bank of
England, December FL,
1897. ............ -. sS6,047 ,935
Capital of the Bank of
France, December 81, 1899 36.05O 900
Capital of the ImperialBank
of Germany, December 81,
1899. !. ...... ...... 2S,56O,OOO
Capital of the Bank of Rus
STA, December 81, 1884,. 25.714.920
Total.... 500. ...., $176,372 $50
Funds held by The Mu-
tual Life Insurance
Company for the pay
ment of its policies,
December 81, 1899 !. 1891. S44, 537 50
Or, $125,471, 6s2.52 more than the
combined capital of four of the greatest
national banks in the world
In 1913 The Mutual Life Insurance
Company began business without dol
lar of capital. A number of gentlemen
held meeting and each agreed to sub
scribe for a certain amount of life in
suranee in the Company, and the pre-
miums they paid for their respective
policies formed the financial basis upon
which to establish the Company's flu
tuse business. The mutual plan" was
agreed upon. There were no shares of
sock and no shareholders to receive
any poYti5n 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
Muuual Life Insurance Company of
New York since 1S43 amount to $780,
1856.
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. 800. 49,, 293
Policies issued. -. ........ 40
For the year 1899 the record reads
thus:
Received for premiums. S44524, 1892
Policies issued. !. -. -. Isl, 1893
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 1883 the assets of The Mutual Life
amounted to s10O.OOO,OO0, and the event
was regarded with great interest
throughout the financial world of the
United States. The President of the