The Roswell daily record. [volume] (Roswell, N.M.) 1903-current, 1905-03-11
Tribute to New York Life.

Tribute to New York Life.
The New York Life is always the
first company to file its annual state
ment and none comes to the depart
ment in more complete form; it
knows the law and makes every eff
fort to comply promptly. 1t was the
first company to report only paid-for
business, never pads it's reports or
tries to swell its assets; it was the
first company to submit to the gain
and loss exhibit and then admitted
it was a good requirement; IL has dis
posed of its stock Investments and
does not invest a dollar In specula-
tive securities, and It was the first
company, co.. that ooh credit only
for the book value of It's assets in
stead of reporting market values. Pre-
sident Mccall has the habit OF doing
the right thing at the right time. and
if an insurance commissioner thinks
there is anything wrong with his
company. he asks him to come in
and look for it; he want to know.
He has beer an insurance commits
sioner himself, and is ready to be-
lieve that every insurance commits
sioner is animated by the same high
ideals which guided him at the head
of the New York department, and
which still guides him as president
of the company. And a man isn't in
surance commissioner long before his
attention is directed to the wonderful
organization his man has built up,
the ability and enthusiasm which ami
ry agent. and most po~licy-holders,
too. believe and feel that they are
factors in the company.
This may seem like eulogy, but
when you have watched the astound-
ing and persistent results of this man
at the helm, and seen the hundreds
Of millions of business placed on the
books every year, until it seems i'm
possible to keep the pace next year
you cannot help but admire this man.
who has learned the business from
the ground up, who has passed rhro'
it's darkest days, faithfully working
and doing always the best that was
chief place in the largest
still watching the smallest detail
with the same careful scrutiny that
he examines and analyses aggregate
results, then you cannot help but
feel that he has set for himself q
goal and for his company a measure
Of usefulness which, when attained,
will enable hin to INFORM the policy
| holders that the company Is large
enough from now on to hold it's own
and direct it's efforts and energies
solely to the benefit of it's poiicy-hol-
iers. And when that day comes poll
cies in the company will be at a pre-
MUM, savings to policy-holders will
be at a minimum. lapse ratios will
drop TO a minimum, and It's presi-
lent will be the greatest man the life
insurance business has ever seen.
When this time comes, as it no
doubt will. it will mean much to the
policy-holders of every company, for
there will be presented an ideal in
practical results which other compa-
MES must follow, and the effect on the
life insurance business az a whole
viii be second only to the DEMENT'S of
lnnuaI accounting to policy-holders.
This belief alone justifes such an
answer to an inquiry prompted by a
desire to instigate criticism of a COM
petitor, and is all the more permissi-
BILE since neither the company nor its
president requires il as an endorse
ment.-(Extract from article by Mr..
Zeno NJ. Host. Insurance Commission
er of Wisconsin, in Milwaukee Free