The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-12-18
Review of 1906 and Announcement for 1907
a No. 4w-N New York. December h te

and Assistant. h.v. imposed upon them a s a dutythe supervision the con-
slant hsp and announcement and the education 4 their agents We
Our new policies will be found most attractive in form and even moro
attractive in substance. They contain all Of the advantages and conces-
mons which we can afford to give and which the pubic have a right 70
iona forms % sItsnded insurance. paid-up insurance and cash. They are
the standard forms of the New York Department, the work II experts
they can be made. We have discontinued many plans IS Unnecessary. We
shall issue Ordinary Life. Limited Payment Endowment and Term plans
plans which the public have stamped with their spproval-namely, the OPP
With Life Option; the Guaranteed Dividend, also under a new and more
descriptive name, the Guaranteed Increased Endowment and the Reduced
Premium Life under its new name. Life with Reduced Premium after 20
Years.
THIS YEAR. 1905.
You have started well. Last year, the year of the investigation, you
paralysis which seened, unreasonably and unnecessarily, to have fallen
upon the business in general appeared 4 have affected even ycu-even
more unreasonably and unnecessarily. Finding this TO be the fact, the
voe-President appealed to you in personal conferences with the superin-
and conclusions Of the Armstrong inquiry and the results as embodied in
legislation; showed you the essential approval I'VE had received in our work
In both departments, and asked you to respond to all this for the remainder
of the year by making the best record you had ever made. This W a in
May and June 1t would be most unsrateful not to make this public and
general acknowledgment of your response to the appeal, and on behalf
Of the Vice President give to you his personal thanks and add our official
tell the whole story. But for the months July to November. inclusive.
compared with the same months of previous years:
You made the largest amount OF industrial n0resse which d oom-
pany w made, except in 1894 and 1908.
per man, Of any of the last ten years.
The average increase per man was larger than for any Of the past cn
The ratio Of lapses a the third lowest for ten years past.
The number Of transferred accounts a the lowest for eight years.
Notwithstanding the larger force Of men with which we started and the
larger reduction in the force We have made this year.
The collections were the best In the history Of the Company
The death claims reached the lowest ratio for the last Is years not
withstanding the increased average age Of the pohcy-holders.
The special salary to agents averaged the largest amount in the last
ten years; and yet W saved 500 600 in the total compared with last year.
The saving in total cost in these items alone, medical fees because Of
a reduction in number Of applications, Assistants salaries and special sal
arr ws at the rate Of a million dollars q year.
We may add that the Pacific Coast kept up with the procession by the
remarkable feat of covering for the year the enormous lapse caused by the
earthquake and is certain to close the year with a handsome increase.
In the Ordinary Department September about equaIed September Of
last year, while October and November largely exceeded the correspond
ing months OF last year, and December promises &c be a record breakerl
And taking the last six months for compaison-June to November,
inclrive-you wrote more Ordinary than v a written by the Com
pany in the corresponding months and exceeded 1905 by v six millions
and q half; and this IL must be remembered by mor than 5000 less meni
We are proud OF this record and q re grateful 20 you for your gen
erou response. We cannot say more than to wish for you and ur she
happiest and most prosperous year Of your lives in ioNt
Very sincerely yours,
John *: Hegernan,
PRESIDENT.