The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-06-12
MONEY PAID IN INSURANCE.

The Insurance Press of this week
contains an elaborate statement show
ing the aggregate life insurance pay
ments in the principal cities and towns
of the United States and Canada during
the past year. Nearly one million dol
lars was distributed every business day
in the year, 273590,S76 being paid or
earned for policy holders during the
year.
The object of this elaborate compila-
ton is to bring to light, for local en-
phasis, the vast sums of money that are
being distributed through the medium
of the life insurance system day by
day. The average of an insurance pol
icy is $2,409, showing that while many
rich men carry large policies, the bulk
of life insurance is from poor men. No
less than II 100000 industrial policies,
averaging $3.50 are in force.
The Insurance Press tables show the
gross distribution of $273590,S76 by
American life insurance companies dur.
$4,000 600 was paid to policyholders Ill
dividends or for the purchase of sur
rendered policies. The Insurance Press
is unable to apportion that vast sum
by localities, nor has it the informa-
ton necessary to apportion in a similar
way the large sums disbursed for an
nuties and for sundry other accounts.
Butsi it is. able to distribute $l97S31,S
of the grand total among cities and.
towns in the United States and Canada.
BY the tables it appears that 1877 cities
received more than, 100000 each; 5
cities more than $5,00Q,O0O; 9 more than
81, OO0,OO0y and 10 more than a million
The New England States received 25
million; the Middle States rs million;
the Western States Is millions the
Southern. States 20 million, and the Pa
cific States million. 'N
No one will contend that the thous-~
ands or millions Of dollars that go to
cities and towns, owing to the provision
of prudent citizens, do not mean a great
deal to each community The large
sums of ready money find their way
into local banks-are used for the set.
tlement of estates, for the canceling OF
mortgages, for hundreds of other pur-
poses. Burdens that might fall upon
the community or the State for the sup
port of individuals are diminished if
not prevented. Often persons who
without insurance, might be charges
upon the community, become instead
capitalists with money to invest. By
maintaining the solvency of individuals,
by protectig homes and educating child
rem, insurance performs a service that
cannot be overestimated. Society is I'M
der great obligations to the system of
life insurance. And particularly are the
United States of America under obli-
cations to the executive underwriters
who have brought that system to such
a high state of development and perfec-
ton in this country.
In North Carolina, Wilmington is the
only city that received last
year over 100000, the actual amount
being $1O9,99S. The total amounts
paid in North Carolina was
81 POI, sos, with over 100000 more pend
ing. 1t was paid out by towns as fol-
lows: Alliance, $4,000; Amity. $3.50,
Asheville, $4,000; Aurora, $4,000; Bates
vile. 81 900; Beaufort, $5,0S4 Beaver
Creek, SIS, $50; Belmont, $4,000; Belvidere,
$1,000: Bethania $4,000; Bethany, $4,000;
Bethel, SIS, 800; Brevard $4,000; Gamer
on, $4,500; Caroleen, $10,150; Centerville,
1850; Charlotte, $4S,7S3; China Grove.
$4,000; Cisco. $4,000; Coleraine, $500;
Conovers. $500; Croatan, $3,515 Cum
berland. $4,500: Darden, $500; Durham,
$12, 500; Earl, $4,000: East Bend; $500;
Elizabeth City, $4,000; Enfield, $4,000;
Fayetteville, $15,791; frankfort TIP.
S9,740; Fruitland, $4,000; Garland, $4,000;
CASTOR, ST., 500; Gastonia, $4,000; Colds
boro, $40, 900; Greensboro, $21 900; Green
vile, $1S,S45; Halifax, $4,000; Hall, $4,000;
Hamilton, So, 800; Huntsville. $4,000; Haw
River, $12, 740; Henderson, $4,000; Hes
ter, $2,136 Hickory, $16,152; Hillsboro,
$S,400; Island Creek, 81 1877: Jacksonville,
5000: Jonesboro, $6,500: Kinston, $16,-
600; La Grange, $500; Laurel Hill SIS
2S6; Laurinburg, $2O,000 Leesville, So
900; Lenolr, Sl2, 502; Lincolnton, $4,000;
Littles Mill, $4,000; Littleton, $4,000
Leo, $4,000; Lockville, $2,041; Longs
Store, $4,000; Madge, 81 zoo; Madison,
$6,039; Magnolia, $4,000; haywood, 49,
440; McDonalds. $4,000; Milton. 81, 700;
Monroe, 50, 500; Mooresville, SIS, 900; Nor
canton. 5000; Mt. Airy, $1,000; Mt. Gill
cad. $1,446; Mt. Olive. $500; Mt Ulla,
$4,000; Moss Neck. $4,000; Moyton a,-
500; Nash Co, $780, Newbern. SIG, 421 !;
Newlight, $4,000; Newton, 50, $50; -Ocra-
coke, $4,000; Old Sparta, $4,000; Oxford,
$4,000; Palmyra, $4,000; Pinesville,
$4,000; Pney Grove $4,000: Pittsboro,
$4,000; Plymouth, $240O; Raleigh, SAT,
052 Randleman, $28,982; Red Springs
$1,000; Reidsville. $4,000: Reinhardtz
$4,000; Rockingham, $4,000; Rocky Mt,
$4,000; Rosedale, $4,000; Salisbury, $14,