The Birmingham age-herald., 1909-01-26
LEES
 ANNUAL MEETING Nearly All Stock Represented
 Yesterday EXCELLENT SHOWING MADE Resolutions by Stockholders Commend Conservatism of Officers and Con-
 graduate Them on Prog
 ress of the Year.
EXCELLENT SHOWING MADE

The stockholders of the Protective Life Insurance company met in annual ses- sion yesterday at noon in the company's offices on the Protective Life floor of the Brown-Marx building
 Of the 12O46 shares of stock in the con- pany 11,446 shares were represented. A number of out-of-town stockholders at tended the meeting, among them being Judge Thos. w. Coleman of Eutaw, Wm. A. Davis of Anniston. ". T. Brown of Ragland, Col. R. A. Mitchell of Gadsden, Dr. J. U. Ray of Woodstock and others. The officers made their report
 President W. D. Jell1s gave out this con densed statement of the company's busi- ness and books:
 December 31, 1907. 19OS Capital stock ...T01, ,370.00 5 120,46O. .00 Gross surplus .. .. e. 19,S78.76 2S, S,46l. 30 Gross assets Q. .... 121, ,S64.00 152, ,74S. 56 Insurance in force... 1S3,5O0.00 1.25S, 900. .00
 Our net surplus grew during the year by the amount of $S.6S2.54. or r per cent.
 Our surplus to policyholders from $117- 639 to $139. .560.90, or 19 per cent.
 Our gross assets for the year increased by $30,S79 or an increase of 20 per cent
 The secretary's report was minute statement of all accounts required to be kept, and as they are required to be kept by the insurance commissioner the state ment before the stockholders being a copy of his report to the insurance com missioner as of December 31, 1908.
 The various reports were discussed by they had thoroughly gone into matters they unanimously adopted with enthus- iasm, the following resolutions:
 Whereas. having heard the reports of the officers of this company, and &C., Quainted ourselves with the amount and character of the business done, be 1t re- solved:
 l. That the volume of business is en- tirely satisfactory and it's character es- pecially so; that we appreciate the dif- ference between mere volume of busi- ness lacking in a renewable quality and consisting in part at least of risks whose rights to insurance at usual rates is QOobllulf d NOAAliA1 OA DhSA- ness of an unobjectionable class.
 g. That we commend all the officers in the stand they have taken against high pressure business of every kind includ- ing special or board contracts, unreason- able commissions and improper risks. as- serting, as we do. that In our opinion the character of the business more than the quantity of 1t is to be considered, and is the only basis which can furnish desired and permanent results. The motto se- lected, "ConservStism consistently, insist ently and perslstently," meets our warm est endorsement.
 8. That business that grew during the year from O,OO0 In the first month of 1908 to over $30o,0O0 in the first month of 1909. showing surplus for the year great CT by 1T per cent, capital greater by 20 per cent, and gross assets greater by 30 per cent, all in one year, ought to rec ommend itself to all thoughtful persons as being a company while protesting and in sisting on conservatism Is at the same time progressive.
 4. That we commend the president of the company for his efforts in having the present law, providing for the deposit of reserves in the state treasury, enacted; and the state department of insurance for it's uniform courtesy to this company in many ways, but especially in arranging for and placing upon every policy of the company the great seal of the state in a certificate to the effect that the reserve on the policy is on deposit with the treas urer of the state, making the security this company offers to the extent of the policys cash value more absolute than that furnished by any foreign company.
 5. That this meeting of stockholders con- graduates the officers on the showing made and the company's growth in every department, and along every line. and
 Further, we commend the company to the public for selling only life insurance. "old fashioned" "old time" life insurance, with all protection with reasonable prem ium rates and surrender values. Calling attention to the fact that not only Is the reserve deposited on every policy, but that the character of the men who make the company ought to stand for In addition the company has in the treasury of the state more than $100, ,00O in interest bearing collateral. rep resentng that much of it's capital, all of which is in further security of the busi- ness done, and we call further and spe- cial attention to the fact that no foreign life insurance company has a dollar in interest bearing collateral, or otherwise in the state treasury of Alabama, to pro- tect its business.
 Finally, we obligate ourselves to lend our best efforts to extend the influence of the company, and to become, each of us larger and larger factors in the it is making.
 President Jelks reported that during the time covered by his report up to De- cember 31, 1908, or for 15 months, the had suffered no death loss The congratulated the company on this showing of careful methods ani