The Plymouth tribune. (Plymouth, Ind.) 1901-1911, 1902-01-16
INDIANA LIFE COMPANIES
Encouraged by Statute They Are Now
the Best.

Rough Notes, an insurance news
paper of indianapolis, has the follow
ing article on 1.-The Growth of Indiana
Life Insurance Companies" in the
current issue:
1t is very gratifying to all interest
ed in the growth of financial institu-
tions of this city and state to note
the progress they are making, espec-
tally during the past few years. This
progress is especially noted in bank
ing, trust and life insurance circles.
Banking facilities in indianapolis have
been largely extended, and the increase
of banking capital and general bnsi-
ness transacted has been surprisingly
large in 1901.
In life insurance, while the growth
has not been as rapid during the past
year, yet the indianapolis life insur-
ance companies have made large and
substantial gains in all directions,
and especially have they increased
their financial strength. Indiana peo-
pie had, for SO long a period, been i'm
posed upon by home life institutions,
unworthy of public confidence and
support, that they had come to look
upon Indiana companies with de-
gree of contempt that has required
most convincing arguments to over
come, and the idea of home CON-
panies being built upon substantial
basis of cash reserves, computed by
the same rigid rules governing the
other state companies, has met with
an almost impenetrable wall of preju-
dice that required great effort to pene-
trate and demolish, and it was not
until in 1899 that gathering ram of
sufficient strength and efficiency was
found to accomplish the work. That
came with the enactment of the stat
ute prescribing the same basis of re-
serve as that adopted by those states
wherein life insurance companies have
attained their largest growth and
popularity and have impressed upon
the public mind that sense of perfect
security without which no company
can flourish. The Indiana statute
went still further in this matter of
perfect security for policy holders by
compelling those companies accepting
its provisions to deposit their reserve
securities with the state of Indiana as
custodian, making it compulsory upon
them to submit to annual examina-
lions of their financial condition by
the insurance department and always
to keep OH deposit with that depart
ment certain designated securities in
amount at least equal to their entire
liabilities to policyholders. No state
in the Union requires of its life insur-
ance companies Incorporated by them
a higher standard of reserve than In
diana, and only two other states pro-
vide that the full policyholders' re-
serve shall be deposited in the care
and keeping of the state.
Thus, blythe enactment of the law
of 1899, the credit of Indiana life in
surance companies, which before were
everywhere .discredited outside the
state, has been raised, and now these
ompanies find ready admission into
other states, where previous to the
enactment of the law they were de-
barred AS result of this increased
credit Indiana companies have been
able to develop their business rapidly
in their home state, and those doing
business in other states have obtained
satisfactory results.
| The jovial German who runs the