The Washington herald., 1907-06-16

fection and almost veneration with which
he is regarded by the great army Of
Metropolitan Life agents. especially by
It's hundreds of superintendents. About
six years ago, at one Of the regular an
nual meetings Of the company's superin-
tendents at the home Office, President
Hegeman quickly noted that one Of these
superIntendents, a resident Of Washing
ton, usually OF the most buOyant and
cheerful temperament, appeared very
downcast and moved about very listlessly.
What seems to be troubling you.
Bob?" inquired Mr. Hegeman in gentle
tones, patting him on the shoulder
"Bad news about my dear old mother,
who resides in London, is what's troubling
me, Mr.. Hegeman. I fear that she has
not many more weeks 70 live
MY good fellow" replied Mr.. Hegenan,
Il know the blessedness in mother love.
One has only one mother What you
want 10 do is 10 see her and embrace her
once more before she departs from this
earth forever. Drop your work. Engage
passage on the first steamer without any
loss Of time. Here is my personal cheque
for your expenses. You can repay me
whenever you are able 20 do so.
Is il any wonder that at last months
assemblage in New York City the Metro
politan Veterans Association. the com
panys home office superintendent and
superintendents Of agents from all over
the country. unanimously indOTsed his
rectitude i'm the strongest kind of resOlu-
tions. and also invoked Gods blessings
upon him2
The student Of insurance. especially the
one who remembers when. less than a
quarter Of Il century ago, the Metropolitan
Life. located at the corner Of Church
street and Park place WIS but weak
ling. with diminutiye assets and barely
any surplus over its liabilities. with John
r. Hegeman as vice president Che was
elected president I'm 1S9D. can also we'll tes-
tify that he was then already the leading
spirit IN guiding its destinies. This was
at a time too, when there were scant in
ducements TO interest investors to be
come stockholders in the company He
must, therefore, pay all the greater tribute
to the tremendous endurance and untiring
energy Of this man, who night after night
and hours and hours after the employees
of the company had left the building
could be found at his room or sitting at
his desk in his shirt sleeves tOiling TO
carry his company beyond the breakers
Not however until he decided TO also en-
ter his company in the arena Of indus
trial insurance in face, too, Of the knowl-
edge that where one company had sue
ceeded. hundreds had failed did he
finally lay the superb foundation for the
uDhuilding Of the Mctropolitan-now the
greatest American industrial life insur-
ance company. and nearly as large as the
biggest institution of its kind in the
world. Now II has assets of s176 429. .0l5.
annual income of S66. S25, and 9.O19.157
policy holders.
But in order that the layman. 70 whom
! insurance. as 4 rule. Is a dark continent,
NAV not entertain the erroneous belief
/ that Hegeman primarily collected all Of
[ these assets from the people TO enrich
/ himself and his stockholders, he must
also know that this company, In thus
building its large yearly income and pyra-
mid Of assets, has also assumed and car
rios risks which at the beginning of 1907
amounted to the immense sum of sl692.-
S6S5S5 The setting aside and safe in
yestment OF an immense sum for only the
/ legal reserves on this tremendous liability
! is an absolutely essential as well as legal
requirement For a more intelligent con-
ception of what its contract obligations
imply. it need only be further stated that
IN 1906 this company paid its policy hold
ers for death claims. cndowments, paid
up policies, dividends. &c. with amount
set aside on their behalf as increased re-
serve). the sum Of $40, ,22S. .36222 Thus,
since the organization Of the company. It
/ has already returned to its policy holders
/ (plus the amount invested and now on
/ hand for their security the colossal sum
of $3.50. 1872 1864
We know of no man in the world S
workshop who is so rich and so loyal to