The Savannah morning news., 1901-08-18
The Massachusetts Mutual Life In
snrance COmpany.

surance Company
Among the comparatively rev COM
panies which have completed nfty
years of existence, the Massachusetts
Mutual Life Insurance Company OF
Springfield occupies a prominent posi-
ton. This company was incorporated
on the 18th of May, 1851, and began
business in August of that year, under
charter which authorized guaranty
capital of 100000 one-half of which
was paid in in cash. In common with
other companies organized in the early
fifties, the managers of the Massachu-
sets Mutual adopted a conservative
policy, and proceeded slowly to lay the
foundation for a strong institution
At the end of its first decade the COM
pany showed a premium income OF
S15S. 0O0 with assets of $751; $50; insur-
ance in force represented by 2,617 pol
icies for So, CPS $50, and paid to its pol
icyholders in that year $50, 125. From
that time on its progress was on
more rapid scale, and ten years later
1t recorded premiums of 81, 141, 1867; as
sets, SO, 4l9, 304; payments to policyhold-
erss $627.311, and an insurance in force
of $S2, 490.597, representing 14,1SS poll
cies.
During the next decade the decline in
American life insurance affected this
company, as we'll as all others, but
there was manifested steady increase
in security, and the volume of business
in force was not affected to any great
extent. The company was one of the
earliest to feel the effects of the inn
proved conditions, as far as life insur
ance was concerned, and in the past
fxxra ~ kne t.,
thing pertaining in magnitude and
financial strength, until to-day it ranks
among the few companies of the United
States having more than $125, 900, 900 of
insurance in force. A glance at the
records of the company shows that its
growth In the past twenty years has
been remarkably uniform, and now that
it has completed its fiftieth year, 1t is
in stronger position than ever before,
and has attained such a favorable po-
sition that it's growth is likely to go
on in greater ratio than in the past.
The company has for many years de-
voted itself to the procurement of life
insurance on whole-life insurance poll
cies, providing the largest amount of
protection, rather than, to some, more
attractive features of investment in
surance, thus out of the $136, 00O, 900 of
insurance in force, which is reported
at the close of 1900, the whole-life poll
cies amounted to $118,451, 918. or 81 per
cent. of the whole, a record which is
equaled by but few American life in
surance companies.
The policies issued by the company
are of the most liberal character, and
for forty years of it's existence it has
had the benefit of the Massachusetts
non-forfeiture law. which has no doubt
contributed largely to its success. Since
the organization Of the company it has
received in premiums SOS, 063, 727, and
has paid to it's p6licyholders $40,246, 800,
and now holds for the present and flu
ture protection of the insured S26,245,-
622.
In the fifty years of its existence the
company has had but four presidents;
the first president, Caleb Rice served
from organization until 1873, when he
was succeeded by e. w. Bond, who
was succeeded in 1886 by NJ. V. B. Ed
gerly, and at his death, in 1895, John
A. Hall was made president, which po-
sition he still holds. The other officers
of the company are: Henry S. Lee,
vice president; Henry NJ. Phillips, Sec
retry; H. w. Haskins, second assistant
secretary; Oscar B. Ireland, actuary.
The Massachusetts Mutual is one of the
largest companies of the United States
and bids fair, in the course of the next
few years. to occupy still more prom
inent position. It's field men are active
workers, and the record of the COM
pany shows that the public at large
appreciates the benefits which it offers
in it's contracts.
The above is from the Spectator, the
great insurance journal, and 1t speaks
volumes for the worth of the company,
so ably represented in Georgia by
Messrs. Harry & Apple of this city. The
Massachusetts Mutual has a very large
business in Georgia, and it's many pol
icyholders will be greatly pleased at
the fine showing made at the end Of
fifty years of successful business.