The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1901-01-16
THE NATIONAL LIFE.

The annual meeting of the policy holders
and directors of the National Life Insurance
Company held Monday at the home office
was OF unusual interest because OF import
ant changes made in the officers.
At a meeting OF the policy holders held
this morning the following directors were
elected: Charles Dewey, Dudley @. Deaf
son, Fred e. Smith, James O. Houghton
James T. Phelps, George Briggs, George g.
Benedict, William ?. Dillingham; w. sew
ard Webb, Joseph A. DeBoer, John G. Nc
Oullough, Harry M. Cutler and j. b. Estee.
j. @. Houghton and Fred e. Smith whose
time had expired were reelected, and j. B.
Estee OF Milwaukee, superintendent OF
agencies, was elected to fill the vacancy
caused by the death of Edward Dewey.
At subsequent meeting OF the directors
the resignation of Hon. Charles Dewey as
president of the company was accepted, and
resolutions complimentary TO Mr.. Dewey,
introduced by g. G.. Benedict OF BurliDg-
ton, were unanimously adopted In his let
ter OF resignation Mr. Dewey said he had
hoped to die in the harness, but during the
past year failing health had admonished
him 1t was actually necessary that he should
be relieved OF the arduous duties Of presi-
dent
The officers elected are President j. @
Houghton; vice-president and actuary, j.
A. DeBoer; secretary, o. d. Clark; treas
urer, FL. M. Cutler; medical rector. DR.. A.
B. Bisbee; superintendent Of agencies, J.B.
Estee; assistant treasurer, O. e. Moulton.
The off 20 OF second vice. president was left
temporarily vacant
During the fifty years Mr.. Dewey has
been connected with the National Life, the
growth OF the company has been marvellous.
In 1851 when Mr.. Dewey was made direc-
tor OF the company, an Office he has contin.
uonsly held since that time, the guaranteed
capital did not exceed 100000. Now the
company has assets OF nearly $50 OOO,OOO,
and surplus Of over So, 100000 Mr.. Dew
ey will be seventy-fve years old next March
and he he is looking forward with almost
boyish enthusiasm to the rest he has so
faithfully earned. At the same time he
will still be guiding spirit in the affairs OF
the National Life. He was reelected di-
rector and also member OF the hnauce
committee. The other members of that
committee are the president, vice-president
treasurer and Col. Fred e. Smith.
Mr. Dewey was bred in the insurance
business. In the year of his graduation
from the University OF Vermont, 1915, he
began his business life as assistant secre-
tary of the Vermont Mutual Fire Insurance
Company, was its secretary from 1850 TO
1871, and was for more than thirty years a
director in the company. In the latter
year ne was elected vice-president OF the
National Life Insurance Company, of
which DR.. Julius Y. Dewey, his father, was
one OF the originators and then It's presi-
dsnt. and in 1877 himself succeeded to the
presidency. He has seen the birth of the
National Life, its early struggles for foot
hold in the Insurance. world, and in the
thirty years OF his executive connection
with the company has not only been witt
ness, but very material part, of its won
derful development and prosperity.
AS bank director and president, in his
connection with other business concerns,
in the church, the schools and ia poi les
duiing the period OF earlier manhood, in the
Prime of his powers and the maturity of
life, Mr.. Dewey has horne prominent and
influential part in the affairs of the COM
munity of il birth and lifelong residence.
bis life, character and abilities have CON-
manded the respect Of his fellow-citizens,
and he reires in the evening of his days
fromla active and responsib BILE business du les
assured of their esteem and good " ill.
Mr.. James q. Houghton, who succeeds
Mr.. Dewey in the presidency of the Nation
al Lite, began his business car or in Mont
| peiier in 1871 "a cashier OF the First Nation
al Bank. In 1885 he was made treasurer OF
| the National Life. an office he filed with
| ability and success till 1897, when he was
promoted to the vice presidency of the
company and on him devolved its active
business management. His further pro
motion to the presidency has been earned
| bytidelity to duty and by marked ability and
capacity as an executive officer. Natura
| qualifications, experience, demonstrated
| fitness for the chief office, backed by tn,
services OF a corps OF men in the othe
offices exceptionally capable and well
fitted for their duties, insure the contin
ued progress aud prosperity of the Nationa
| Life.
Among the directors aud general agents
of the company present today were: G
Benedict and T. S. Peck of Burlington; j
g. Mccullough of Bennington; II. K. Tay
lor of Brattleboro; George H. Olmstead o
Cleveland, o.; James A. wellman of Man
chester. N. III James I. Phelps of Bostol
and George Briggs Of Brandon.