New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-09-25
A RECORD IN INSURANCE.


engaged iu ttis Important form of business
carry risks in the United states alone That
amount &" something like S6IGo0Ooo00o OF
this Immense SUM about S2I."00.Go0.0Hn are
represented in life insurance. Forty-thr"c ""ld
line" life insurance companies in New York
state have a total annual income of aprroxi-
mateiy S65nODOOoO and annually disbursc more
than Sl0ON11O0, nearly three fourths al Which
goes to their poayholders.
Recent years have known searching official
Investigations of the leading life insurance COM
panies the result being legislation providing for
more conservative management and a greater
safeguJrdjrE of p"licy holders There are COM
pancs. Of course that passed through the mar
vellously rigid and thorough iuquistion carried
on in New York under thc fearless direction ot
Mr.. Hughes, and emerged from it with Wild
cncd and enhanced reputation But there
can bc no question 10 which company led all
Others iu this respect ana In the almost scnsa-
tional hin of health given it 10y the inVcstiga-
tors. That company was the Home Life.
President George l.. Idle. when on the stand
before the Armstrong committee was subjected
10 rs close and grlllIng "a questioning as any in.
suranCc maa appearing before that tribunal
The result was an absolute triumph for himself
and his company ana the official Endorsement Of
the Home Life possessing record without a
single questionable transaction. At that time
The Tribune said that the most careful probing
has failed To disclose anything Of a serious
character rejecting ON the company" and that
the Home Life has supplied one of the marVcls
Of the investigation while Senator Armstrong,
on the floor OF Tie state Senate. said that the
company "has conducted its business in such
wholesome manner that it has attracted the at
tcntion OF the entire world" In brief. the in
vestigaton showed clearly that the Home Life
had never had any connection with high
finance" that its officers knew nothing OF
graft" that il had never made any political
contributions or spent It's money for favorable
legislation. had dummy directors officers
involved in questionable syudicates and that for
nearly half a century IT had been conducted for
the actual benefit OF its policyholders.
The Home Life came into being April 30
1860 and therefore will be able to celebrate
within few months its half century anuiver-
sary. It's first president was Walter T. Griffith.
widely and favorably known in the business
world Of fifty years ago. under whose admins
tration the organization entered upon the pros
porous career IL has since continuously known.
His successors in the office have been George c.
Ripley. CT les \. Townsend and George II. Ide.
Mr.. Idle elected president May I. 1894.
and statistics show that his administration has
brought about the practical trebling OF the COM
pany's business. His associates among the off,
nent New York business men. In many cases
sons relatives of the original founders and
incorporators of the company. The official list
is as follows:
George Il. Ide. president; William A. Marshall,
vico-president and actuary: Ellis w. Gladwin,
vice-president and secretary: Anton A. Raven,
vice-president: George w. Murray. superin-
tendent Of agents; Frank w. Iapln, medical
director; Frederick c. billiard cashier; Henry
Ide. assistant secretary; Henry Moir, asso-
ciate actuary: Julius c. Blerwirth associate
l-edicai cirectOr, and Howard van Snderen,
counsel The directorate Is composed of PresI-
dent George L. Ide and William A. Marshall
Ellis W. Gladwin and Anton a. Raven, vice
presidents, the last named being also the pres-
dent of the Atlantic Mutual Insurance Company
(Marne); Francis L. Hine. ce-presdent of the
First National Bank; William A. Nash DreeI
dent of the Corn Exchange Bank; Thomas n
Barr, president OF the Nassau National Rank.
Robert Il. Woodward. vice president of the
Bowery Savings Bank: Martin Joost vice.
president OF the Bond and Mortgage Guarantee
company; John f. Borne. james McGovern
and William C. Low. jr.. bankers: Thomas III.
Messenger. John Il. Praeger and John s Frotb
ingham. merchants; J. Warren Greene. H. Il
Picrrepont. William NJ. st. John, f. lie Grand
Beers and Cortlandt T. Dixon
President George L. Idle. whose complete IA
milarity with the thoroughly honest and strictly
businesslike methods OF the Home Life enabled
him to meet the scrutiny of Mr.. Hughes of IFS
every feature and to bring about nothing but
praise Tor the manner in which IL had been
conducted is looked upon as one of the ablest
OF American insurance authorities Yale is his
alma mater. he having been graduated from
that historic university with high honors I'm the
class Of 81, although during the legislative in
vestigation it was widely published that ne had