Twice-a-week record-press. [volume] (Marion, Ky.) 1909-1909, 1909-08-13

900 Of assets. Its statement showed
assets in 1908 1896 600. 900, and
the assets have probably increased
to about a quarter of billion OF
dollars today. -Four prominent met.
ropolitan life insurance companies in
1905 had a total income Of 1897,
s37, lSs. Allowing three hundred
business days for the year, this
means that these four companies
alone pumped through the arteries Of
New York Citys financial and bus.
mess system last year upward Of
81, 1876, 600 every day, Indiauspo.
hs, which is little over 100 miles
from Louisville, has something like
twenty life insurance companies, and
the business in Indiana has been
growing very fast.
The amount paid for life insurance
premiums 10 Kentucky last year was
q, 2s5, s22, aud the South is now
paying out for life insurance about
sixty millions Of dollars annually.
Kentucky should have a big life
assurance company. II is the frst
southern state to offer to policyhold.
ers the guarantee Of compulsory
reserve deposit Law. The statute
now IN effect was Enacted March "a.
1906. II provided that every dome5.
tic life insurance company must de.
post with the State Treasurer for
the security and benefit Of all ITS
rolicyholders, an amount equal to or
greater than the ascertsined net cash
value Of all such compAny's policies
in force. IL is worthy Of note that
the men who fought for this law were
the managers OF the Citizens Lie 10.
surance Company and the same gen
tlemeo who are now promoting the
Citizens Nationsl Life.
The plan 10 brief Of the Citizens
National Life Insurance Company "a
hrst 10 merge into il the Citirsns
Life Insurance Company. As al
ready indicated, the same men who
during che past FIVE year, made hte
insurance history through the except
ionAl development Of ;he latter COM
pAuy are she guiding spirits Of the
new organization. The further pur-
pose Of the new company is to take
over other companies Of the South
and elsewhere which may decide to
discontinue business or may find it
more profitable to consolidate with a
company Of great strength. There
seems to be nothing impracticable
about the plan, nor does il appear
where anything but advantage can
come to the po!icyhoiders and stock
holders Of the Citizens Life or any
other companies that may he merged
into tbs new company. No doubt
the stockholders will see to it that
thoroughly equitable arrangement is
carried out for the exchange OF hold.
ings in any existing company for
stock in the new corporation. 1t
is pointed out to policyholders Of the
Citizens Life in particulAr-and the
same condition must apply to the pol.
icyholders Of any other company
merged into the big company-thst
the consolidation Will mean to them
insurance in one Of the strongest
companies in the country, and for
that matter, IN the world.
There are purchasers Of life insur-
anoe who do not care particularly for
a big company. Some on the other
hand will insure in no other kind,
bat no one objects especially to a big
company when seeking life insurance
protection. Thus the new company
will not only secure business iscm
those who are not content to buy in
surance from a small company, bat
to those who want to purchase very
large or even small policies and de-
mand financial strength, IL will stand |
the seversst test. But thersss deep
interest and significance to the ger
eral public in the organization Of
ten million dollar insurance company
in the South aud an added local in.