The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1902-01-08
INSURANCE IN MONTPELIER.

The following from the current num-
York, pays Montpelier's solidity in
financial institutions a merited COM
pliment. The writer says:
The National Life of Vermont this
year began the second half century of
it's work with a complete change of
rates, values and plans. Its reserve
basis for new business was changed
from four per cent to three per cent.
During the first eleven months of
1901 it issued new business in the sum
of $l5, 1853, 40, not including revived
and increased policies, and this issue
exceeds by 1866, 1877 the issue for the
corresponding period of 1900. The to-
tai outstanding insurance on Deem
Der 1, 1901 was $l0G, 544, 1922 AZ against
$l,072, 1888 90 since January /, 1901.
During the ear the states of Georgia
and North Carolina have been enter
q Wills Sc IN new general agencies
nave been established. AT the same
time an assc ,iation Of the company's
agents has been organized for strong
and cOnser yatiye work. The COM
pany's experience for the year has thus
far been very satisfactory in mortality,
interest earnings and expenses.
Among the general managers who
have put up an able and conservative
large business for the National Life of
Vermont during the present year are:
John f. Makley of New York City !;
James r. Phelps e. Co., of Boston !;
Edward O'Neill of Pittsburg; Ohm
stead Brothers of Cleveland William
II. Murphy & Son of Minneapolis !;
James B. Estee of Milwaukee John
Poindexter of st. Louis; James A.
Wellman of Manchester; f. l.. Nc
Herman of Louisville; G.. M. Stolp &
Son of San Francisco, and d.. G..
Drake of Chicago. The total writings
of these representative experts amount
nearly ten millions of carefully Sc
lected, old line business.
New York, Hartford, Philadelphia,
Boston, Baltimore, Chicago and other
large cities have general distinction
centers of great and varied insur-
ance activity 1t is interesting, there
fore, to note the extent to which
in the little city of Montpelier, among
the hills, as it is familiarly described,
insurance has been worked.
In this prosperous Vermont capital,
with population not exceeding 5000
are found the following institutions
The National Life, founded i'll 1850,
with assets of 81 millions and insur-
ance exceeding LOG millions; the Yer
mont Mutual Fire Insurance Com
any, chartered in 1928, with state
risks in force of over SO millions; and
the Union Mutual Fire Insurance
Company, chartered in 1874, with
State risks outstanding of over II mil
lions. The American Fidelity Com
pany, with home Office at Montpelier,
was chartered in 1890, and has since
successfully begun and extended its
business. Old and prosperous bust
ness interests of this character can
probably not be duplicated in any
town of its size in the world.
1t has been said of Montpelier that
there are two insurance agents fol-
every insurable person yet the RECORD
of s. S. Ballard, general agent of tho
National for Montpelier and its vi
cinity, shows over $3.50, 900 insurance
written for the National in the twelve
months previous to December /, 1901
and this in a territory which embrace
population of hardly more than 80,
600 Over 81 900, 600 was written f.
the National in the State. What be
ter proof can be desired of the pop
larity of the National at home, or o
Mr. Billiards. reputation as "hus
tier" i'll the insurance field?