Cameron County press. [volume] (Emporium, Cameron County, Pa.) 1866-1922, 1905-08-10
SUN LIES DEPOSIT.
$685. 900 in Bonds Placed With the
Fidelity Trust Company of
Newark

newark.
The Sun Life Assurance Company of
Canada has executed trust deed ap-
pointing the Fidelity Trust Company
of Newark, N. j., as one of it's trustees
and repositories in the United States,
and has made preliminary deposit,
amounting to $5OO,0OO, in first class in
terest bearing bonds. for the protection
and security of its policy-holders in
this country.
With an equal amount deposited
with the Insurance Department of the
State of Michigan, the company now
has in the hands OF trustees in this
country $1,0O0,000 and this amount,
The Insurance Press understands, is to
be Immediately increased by further
deposit of securities, 50 that the COM
pany's total liabilities in the United
States, as computed by the Insurance
Commissioners of the different States
in which it is doing business, shall al
ways be fully covered by the securities
held in trust.
When the officers of this progressive
old line company, after due delibera
ton, voluntarily decided to execute
such liberal trust as the one referred
to, it certainly must convince not only
the policyholders but also the insuring
public at large, that the Sun does not
desire nor intend to rest satisfied with
having complied with all the usual
legal requirements asked of foreign in
corporated life companies in this
country, but has deliberately planked
down first-class securities to better pro-
tect its American policy-holders.
Some people have the idea that be-
cause company is incorporated out
side of this country that this fact nee.
cessarily means the withdrawal of the
premium income collected here. But
that is often great mistake, as can
readily be seen by glance at the in
vestment account of the Sun Life AS.
surance Company of Canada. At the
present time it is not only investing it's
States securities but is also drawing
funds from many distant branches for
investment here, and held on Decem-
ber 81, 1904, in American bonds, de-
bentures, ETC., no less than $3.50, ,391.
In selecting the Fidelity Trust Com
pany as one of its United States trus-
tees, the Sun Life has shown that it is
it's purpose and intention to employ
only institutions whose financial
strength entities them to a formost
place in the rank of the trust compan-
les of this country.
A summary of the principal condi-
tions of this important trusteeship
document will interest the insuring
public. They are as follows
~ The creating of greater conf
dence and security to all the policy
holders of the Sun Life residing within
the United States.
(2) The right is granted the trustee
to sell or dispose of said securities,
under certain conditions, is case a de-
cree or claim should be filed against
the company.
(3) The trustee may demand a
change of securities, in the event of
depreciation in value, or default in in
terest, if they so deem it necessary.
(4) Under certain conditions, the
company may name new trustees in
the United States, but it is expressly
provided that the deposit shall always
be maintained and held in this country
as long as any liability exists.
These particulars give ample and suf-
ficient evidence of the honesty and de.
termination of the directors of the Sun
Life to provide and to maintain alb
solute security for those who entrust
their funds to them. Therefore, it is
little wonder that this progressive in
ternational old line company is max
ing such steady and substantial gains
in all departments, both here and in
other countries.