The San Francisco call., 1909-01-20
A PLAIN TALK WITH THE POLICY-HOLDERS
New York Life Insurance COMPANY
New York
sIxTY-FoURTH ANNUAL REPORT
A PLAIN TALK WITH THE POLICY-H
$40 Broadway, New York
sIXTY-FOURTH ANNUAL REPORT
To The Policy-Holders:

=
The work of your Company during 1903 and its condi-
ton the close of that year than ordinary
sdeation and study brief tabular exib-
attached twood You have the responsibility and the
anxiety OF poicyhoders; you have also wider interest
Commerce than business the great cvizer Life
than mutual protecon it is great social
force Let u.s. for consider that aspect OF these
figures.
If considerable portion of the wealth created yearly by
society could be gathered pro basis invested
reasonable of interest and then under exact
and scientific program be turned into cash instantly
point and applied the relief of human Distress long
would be taken toward the social beterment of There
would be neither charity conhscaon such plan 1t
would not eliminate ambition initiative but it would
greatly reduce poverty ignorance and their familiar fruits
But society organized in that way the struggle
for existence the weak are brua driven the wall Prop
ery itself not always and saved frequently
value because it is not we'll placed or
is not quickly available.
There is, nevertheless, large of society
wisely organized than society wfolea gd of and
whose weak trampled whose property
the time of need always available and always
money. This is life insurance.
Life society would be and does what
society would do society organized suggested above
society instead OF life insurance accomplished these results
might begin to hope for speedy realization of of
social ideals results achieved are no
less real and less valuable socially because they belong
what business Life insurance achieves such results
daily with certainty with justice and with large benefits
society.
AS pocy-ho1der in the New York Life Insurance Com
busy producing just such results every month that
year.
WHAT YOU DID IN 1908
Consider for moment this Company-and by this Com
pany | mean primarily, its memberships it al the
beginning of l9O8 and has accomplished
within twelve months One year the Company consisted
of people insured under about 100000 policies of
considerable country. They under definite
with each other which called for cooperation
and mutual protection They had paid such a
common their matured obligations had then
been and, January st 1908 against ultimate
age obligation OF about Soo per policy there was accumu
lated about S525 The membership under definite
duly provide the difference between the
mulated and the sums ultimately due.
What happened during 1908? You directly reached and
relieved 1000 policies when their chief
had been taken by death your relief
the 40 states and territories of the United States and A
other countries The total of this relief expressed
money, $221312o077 But that is only part
story. You these families property but money you
reached them Immediately and just when need greatest
In doing that you really did You did what other
organized body of could do except those similarly organ
lied You paid to these beneciares partial equivalent
the property value of lives cut off prematurely.
Most insuring persons young. They have strength
of body reasonable mental equipment and average
ing When they the obligations of home children
they in effect make contract with society but the burden
their chief But the bank will loan money that asset
when life is extinct, and very little when life its full If
that asset s these men default to society and society has
remedy except the orphanage and the reformatory.
large portion of the death-clams of 1903 represented
the salvage of the really valuable which these
lies had-a which by all the ordinary rules
ness totally lost These payments prevented social
defaults and that made the orphanage the
reformatory unnecessary
1t is worth while for you, policy holders to know
something of the other things which you accomplished the
year 1908 You paid all your membership $40 191
2584O This total includes death claims annues dividends
maturing endowments, maturing deferred dividend policies
and surrender value for contracts sold TO the COMPANY Won
loaned your membership, the security Of own
policies $28OO0OO0 For your protection you increased
the general funds Of the Company book vaues by
$00OOOO This increased the security behind average
ultimate policy obligation by about $40