The Savannah morning news., 1902-02-11
THE MASSACHUSETTS, MUTUAL.
An Excellent Life Insurance Com
pany-NOw Over Half "a Century

An Excellent Life Insurance Com
pany-NOw Over Half n Century
Old.
On another page of this issue we
publish the Fiftieth Annual State
ment of the Massachusetts Mutual
Life Insurance Company of Springfield,
Mass. This excellent company was
organized over fifty years ago and it's
career ever since has been marked
with conservatism and success. Since
it's organization it has paid to living
policyholders in endowments nearly ST.
100000 and in dividends over $40, $780,
600. 1t has paid in death claims over
S22,000000. 1t is truly policyholders'
company, and is purely mutual in the
strictest sense of the term.
The insurance department of the state
of Massachusetts has just completed
its triennial examination of the COM
pany, and it's report is all that could
be desired. A copy of the fiftieth an
nual statement and President Halls
report has been mailed to every policy
holder. If, however. those who may
be interested desire copies, the same
will be cheerfully furnished on appli-
cation to the Savannah agency.
The Springfield Republican, one of
the abiest and most conservative
newspapers in America, has this to
say editorially of the Massachusetts
Mutual Life:
But not mere bigness is the ideal
of this company (the Massachusetts,
Mutual Life Insurance Company, but
safety-and then again safety. The
bedrock of security upon which such
a trust as this is morally bound to
rest has been and is the dominant
thought When the business world
talks in millions, and the modern i'm
agination is in a glow and fever of
speculative forthputting, the realm of
insurance should be sane, calm and
careful. So it is with this company.
In a nutshell:
The matters of chief concern have
been a careful selection of risks, safe
investments and economy in expendi-
lures. These point to security, and
to the greatest returns to members in
the way of distributions of surplus to
reduce the average yearly outlay for
premiums.
Conservatism, intelligent selection of
securities, searching system in making
real estate loans through the COM
pany's own appraisers and examiners,
with no financial bonus for any one
these are things which shine out in
this report. In the booklet which car
ries President Halls report to the pol
icyholders there is appended a list of
the bonds held by the company, and
it is one to command the approval
of experts in financial matters. The
fact that only S5S7 of interest is over
due on the company's mortgage loans
of 81, 900 900 gives proof of the care
exercised. While 1928 of these
loans were made during the year. the
increase in the total was only $1,856, 1854,
so many of the mortgages were paid.
This again is proof of the strong char
acter of the loans and the prosperity
of the borrowers. The real estate
owned by the company, including the
home office, amounts to 1888, 635, or but
1877 per cent of the gross assets.
The triennial examination of the
company, made according to law by
the insurance department of the state.
confirms in terms the point which we
have made The commissioner com
mends the excellent system employed
in making and caring for the loans
upon mortgages of real estate, sets
forth that these loans are based upon
the company's valuations. and average
about 80 per cent. of the same" and
the small amount of overdue interest
is declared to be "a remarkable record
and one with which the company may
well feel satisfied" The investments
in stocks and bonds are commended
and we are told that "the market
values exceed the book values by $780,
1885," Commissioner Cuttings appends a
table showing the company's condi-
ton for the years 1897 to 1901 inclu-
sive, from which it appears that the
assets have increased in the five years
from $20,342 SAT to s2S 291 .564, the sur
plus from 81. 750.327 to 1896. 909, and the
insurance in force from $109, 045, $50 to
$146. 109 721.'
The Massachusetts Mutual is repre-
sented here by Messrs. Harty e. APP
pie, state managers. and the efforts of
these energetic gentlemen have been
crowned with abundant success; the
business Of their agency amounting
now to nearly $4,000. 900.