The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1902-02-07
United States Leads
in Life Insurance


FROM thc IhlcaBo KeCOrd'lIcrald.
TlIE United States leads the world in life in.
| sulNnce, not only in the amount of the
l. policies carried by individuals, but in the
number of persons that are its patrons
Some countries have compulsory systems of life
insurance, but in the United States, where it is
free for all who have the premiums to pay for
it, the system is advanced and progresses with
billionarc strides. a few years ago to write
S0,0O0.O00 Of life insurance was thought to be
herculcan feat, and yet for 1909 one of the big
companies has set a mark of O0,O0O,OU paid
for and delivered insurance.
Life insurance is not for the rich alone, but
is within reach of everybody. Millions upon
millions in small policies are written every year
by the industrial companies, and the premiums
are made payable weekly or monthly, suiting
the wage day OF the assured.
Rich men value life insurance an available
asset in event of sudden death, when the with
draw0l of funds from business ventures might
mean financial ruin. 1t is now used to protect
one partner from the sudden death of another,
which might place financial interests in jeopardy,
but straight life insurance for the protection of
the family of the dccedent is the most popular
form.
The late Frank II. Peavey. of Minneapolis,
was insured for upward of $l,3000O0, and, al
though he died only three weeks ago, practically
all Of that vast sum of money has alredy been
paid to the benefciaries under the policies
One million dollars of this insurance was written
by one company and a portion of the liability
reinsured with other companies.
1t is estimated that the insurable limit on q
single life is ?l50O,O0O. This is the amount
held by John Wananaker, of Philadelphia, who
is the most heavily insured man in the United
States. To write this amount OF life insurance
taxes the capacity of the two score companies
of this country, and is said to draw heavily
upon the capacity of foreign corporations, which
are utilized in such cases for reinsurance OF a
portion Of the liability.
H. II. Kohlsaat, of Chicago, holds the second
place in life insurance, his aggregate holding
amounting to $l,030,00O Julian s. Carr, Of
Durham, n c., George W. Vanderbilt of New
York, and Rodman Wanamakcr, OF Philadelphia
are tied for third place with 1,00O,OOO each.
According to the most authentic records there
are only eight men who carry between 5000, 900
and $1,0oo00o insurance. They are: Jacob Ilcyl,
of Milwaukee, and +. G. Howard, of New Or.
leans, each $I5O,OO0; c. J. Devlin, OF Topeka,
Kan, $1S3, 600; II. n. IIiginbotham, of Chicago
Randall Morgan and John y. Stetson, of Phla-
delphia, each 100000; j. II. Whipple of Bos-
ton, and August Belmont, Of New York, each
$GOO,0 0GO
Life insurance is becoming factor among the
women OF the country, and most of the com.
panies now accept them as risks without burden
some restrictions Mrs. Dunsnuir, OF Toronto,
is credited with being the most heavily in.
sured woman in North America, il not in the
world, carrying policies amounting TO $l0OO,-
600. Mis-. b. n. Duke, of Durham. N c.. has
the record in the United States with $780, 600,
although half dozen women have $3.50 900 and
over. Mrs. Wright, of New Orleans, is insured
for T2s5,0OO, Mrs NJ. \. Pickering, of Pittsburg,
for $2G5,OOo and Mrs. o. r. Holmes, OF Concin-
natl, for $500 600.
Mrs. F. o. Lowden is the most heavily in.
1,N,,l s,,f
ing $500 on her life, these also havn. similar
amounts Mrs. Julian S. Carr of Durham. N.
c.; Mrs. NJ. r. Bisse, OF Grand Rapids Mich,
and Mrs Sohpia s. Taylor, of Cleveland. Mrs.
Charles II. Heinc, of Cincinnati, follows with
S2iO,OOo, Mrs. A. White, of Gardiner, Maine, with
$4,000, and Elizabeth A. lIartcr, of Canton,
Ohio, with $4,000
The 100000 class for women numbers these
eight members: Mrs. c. L. Longley, of Provi.
dencc, r.. l.. Mrs. II. c. Alexander, Mrs. T. X.
Lipman and Mrs. Gage L. Tarbell, of New York,
Mrs. E. A. Woods, of Sewickley, Pa, Mary S.
williamson of Elon College, y. c., and Mrs
T. NJ. Mordecai, OF Charleston, s. c.
Men with 100000 life insurance are as thick
as bees and yet few years ago it was the eX.
ception when that amount was taken by a single
person. The sums carried vary largely, accord.
ing to the income OF the man insured, but $780,
600, 100000 and upward to 100000 are not at
all uncommon.
This latter class, according to the latest re-.
vised lists of patrons of life insurance, numbers
the following: Herbert Ballentine of Newark:
George W. Foreman, of Buffalo; Chauncey NJ. De-
pew General Francis Greene and John A. Nc
Call, Of New York; George Eastman, of Ro.
chester; Charles Miller, of Franklin, Pa; j. a.
Darlington, of Philadelphia; j. NJ Guffey, Isaac
kauHmam ard Charles I. Schoen, of Pittsbms;
Thomas ii. Watkins, Scranton. Pa; John c. Car.
ter, OF Itusvillc, Pa: b. n. Baker, of Balti.