New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-01-27
THE METROPOLITAN LIFE.
Figures in the Annual Statement of This
Insurance Company.

-L ,o,l,, cor,piIation Of statistics published BY
the Netropolitan Life Insurance Company Is never
dry reading A summary Of that cOmpanys ousl-
ness for the year 1905 just issued. tabulates figures
in the concise manner approved by accountants
and following the custom of former years, supple
ments them with clear and lucid analysis for the
benefit Of people who are not accountants.
Few persons are sufficiently familiar with great
financial operations to grasp Immediately the fun
SIGNIFICANCE OF a balance sheet In which totals anu
grand totals are expressed in hundreds OF millions
but the purpose of life insurance statement IS
doubtless 10 inform and enlghten its multitude
OF policyholders, and this purpose the Metropolitan
management accomplishes with signal success.
Following closely upon period Of agitation IN the
life insurance field. such statement IS timely and
specially interesting
After giving the public comprehensive state
rnent Of the company's general condition and pre-
seutng a series Of comparative items. the Metro
politan goes on to show that the number OF its
policyholdcrs CHow increased to more than eight
and a half milions) equals the combined popula-
ton Of our largest eight cities In other words, II
the companys policies in force we're 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.
Their army OF nineteen thousand employees evt-
IDENTIFY includes drones. During the year Just
closed It handled a daily average OF S15O00oO in
new business alone. The company issued on the
average nearly seven thousand new policies every
business day during the same twelve months.
A single item which illustrates graphically the
real meaning and purpose Of all this tremendous
business is that relating insurance claims paid
during the year. These amounted 10 more than
So 100000 This means that some one received from
the Metropolitan Life in benefits sos 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 most i'm
pressiyely emphasized IN the statement that 15,ltS
policies paid within the year 1895 had been in force
less than twelve months and that 438 OF these
policies paid IN less than three months from
the timO they issued.
The metropolitan Life began the year 1906 with
assets Of more than $4,000 co. showing increase
OF more than S23.000OOO over the preceding twelve
months This evidence of ample and increasing
strength is a most satisfactory thing for policy
holders to contemplate, and It is a further cause
for satisfaction that the largest years business in
the company's history was transacted at a lower
ratio Of expense than has ever been reached in
previous years.
The company directs particular attention to the
fact that 1t does not issue tontine, deferred
dividend" policies, nor any form OF contract which
fails 10 specify in exact terms what the insured
IS 70 pay in premiums and what he IS to receive
in benefits.