The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1909-02-10
OF
CO.ASTOUND|NG
Metropolitan Life Issues a
Statement of Standing at
End of 1908.

For the information of its army Of
policy-hoIders, the metropolitan Life
Insurance company. of New York, is
sues a statement of it's standing at the
end OF the year 1908.
The magnitude OF the company's
operations is astounding, To fully
understand the meaning of tae figures
dealing in totals for the year, it is
necessary to bring them down to the
smallest division of time. For exam
| pie, the mind can scarcely compT2-
bend the significance of the statement
that the total amount Of outstanding
| policies at the end of the year was
! 81 SCI $50 ,S03, but we can easily grasp
the no less astonishing fact that dur
| Ing the business hours OF every day
| in the year an average of 6,S43 new
| policies we're issued and paid for
Every day-taking the average for
| the yeaF-441 persons received from
the company the full value in casa of
policies which had been carried for
| their benefit Every day the COM
pany paid out TO its policy holders
| and added 70 the pohey-paying fund
| PRESERVE fund.- more than S166 900.
The value Of property owned a1st ac-
| quired by the Metropolitan Life dur
| ing 1908 increased at the rate of
$4,000 per day. A policy holder of
the company dies every six minutes,
and the company pays during bust
ness hours death claim on the av-
| erage every sixty-two seconds
The company owns nearly one hun
| dred million dollars worth of United
States bonds, city bonds, and rail-
read bonds and stocks; more than
nienty millions of bonds and mort
cages; more tlan twenty-five millions
or real estate, and much other tangi-
/ BILE property, all held as assets avail
able for the payment of its obliga-
tons. Nearly ten million policies
1880, 1865 are carried by individuals
| IN the Metropolitan Life. If these
| policy holders were gathered into one
community they would constitute a
city of more than the combined popu-
lation of the twelve largest cities in
the United States.
Perhaps nothing brought out in this
report is more wonderful TO contem-
plate than the fact that one force of
executive Officers and office employees
transact business of this compIi-
Gated nature with SO vast a number
| of people
It is obvious that the Metropolitan
Life is managed and controlled by
men or coDsummate ability, but so
are thousands Of business organiza-
| tons that never approach this COM
pany in magnitude of operations. 1t
/ Is not merely executive ability. but
/ the ability to inspire and hold public
confidence that has counted most ia
building up this greatest of all lnsur.
Anee companies, The Metropolitan
Lie deals directly with the people.
Its policy from the beginning has
been one OF entire fTankness with the
people. No man, however unused TO.
the making of business contracts. can
fail TO understand exactly what are
the terms of his contract with the
| Metropolitan Life. Every promise of
| tae company is set down in terms as
definite and clear as the English lam
| guage permits; every obligation of
the policy holder to the Company is
equally plain No inflated premiums
are collected for estimated" bene-
htsi every payment to the company
represents the lowest cost of bona fide
/ Insurance.