Every evening, Wilmington daily commercial., 1906-02-03
ANNUAL STATEMENT OF THE
METROPOLITAN LIFE


The yearly compilation Of statistics
published by the Metropolitan Life In
surance Co. is never dry reading. A sum-
mary of that company's business for the
year 1905, just issued, tabuates astound-
ing figures in the concise manner gp-
proved by accountants, and following
the custom of former years, supplements
them with clear and lucid analysis for
the benefit Of the people who are not ac-
countants.
Few persons are sufficiently familiar
with great financial operations TO grasp
Immediately the full significance of a
balance sheet in which totals and grand
totals are expressed in hundreds Of mill
lions but the purpose OF Life Insurance
statement is doubtless to inform and en-
tighten its multitude Of policy-holders
and this purpose the Metropolitan manage
ment accomplishes with signal success.
Following closely upon a period of agi-
tation in the life insurance field such a
statement is timely and specially interest
ing.
After placing before US a comprehensive
statement Of the company's general con-
dition, and presenting a series of COM
parative items, the Metropolitan reminds
us again that the number Of its policy
holders NOV increased to more than
eight and a half millions) equals the COM
bined population Of our largest cities
In other words. il the company's policies
now in force, were all placed In New York
Chicago, Philadelphia, Boston, St. Louis
Cleveland, Cincinnati and Milwaukee
every man, woman and child In these
communities would possess one.
Men now living remember when the
whole United States could hardly have
supplied so vast number Of insurable
persons Even at this day there are
"a States and Territories whose combined
population does not equal the number
OF people carrying insurance in this one
| great company.
We are informed that 10000 persons
were in the companys service at the end
Of 1905. II one adult bread-winner
represents five individuals in the total
population, we must conclude that nearly
| 100000 persons draw subsistence from
this institution--not in insurance bene-
fits, but in direct payment for service to
the company.
This army Of 1000 employees evidently
includes no drones. During the year lust
closed it handled daily average Of 81 800 =
600 in new business alone. The company
issued on the average nearly 1000 new
| policies every business day during the
same II months.
A single item which illustrates graphi-
cally the real meaning and purpose OF all
this tremendous business is that relating
TO insurance claims paid during the year.
| These amounted tomore than SIS, ,O0O.OO0
This means that some received from
the Metropolitan Life in benefits S1O6
every minute of every business day Of
eight hours throughout the year.
Again the uncertainty Of life and health
and the universal need of life insurance
are most impressively emphasized in the
statement that Is, ,14S policies paid within
the year 1908 had been in force less than
~ months; and that 4,326 of these
policies were paid in less than three
months from the time they were issued.
The Metropolitan Life began the year
1905 with assets Of more than $3.50 900 200.
showing an increase of more than S23 ,00O. :
600 over the preceding IL months. This
evidence Of ample and increasing strength
is a most satisfactory thing for policv-
holders to contemplate. and Il is further
cause for satisfaction that the largest
years business IN the company's history
has transacted at a lower ratio Of expense
than has ever been reached in previous
years.
The company directs particular at
tention to the fact that it does not issue
Tontine, or deferred dividend policies.
nor any form of contract which fails 10
specify in exact terms what the insured
is to pay in premiums and what he is TO
receive in benefits. That the simplicity
Of its contract agreements is a popular
feature will not be questioned In the light
OF facts above noted.
| Many items in the company's summary
have not been touched upon for lack Of
space, but the document itself will be
widely circulated, and ones time can
hardly be utilized to better purpose than
in the careful and reflective reading of
its entire contents from beginning to
ends