The Washington herald., 1909-01-20
SIxTY-FoURTH ANNUAL REPORT.
To the PoIicy-hoIders:
6 Broadway. New York.

The work OF company during 1903 and its condition at
the close of that year deserve ordinary consideration and
study Your interest in the tabular exhibits attached
fold You have the responsibility anxiety of poyoders
you have also wider interest Commerce more business
is the cvzer Life insurance than mutual protection
It great social force u.s. for moment consider aspect
of these figures.
If considerable portion of the wealth created yearly by
cey could be gathered pro basis invested
reasonable of interest and then under scientific
programme be turned into cash instantly any point applied
the relief of human distress long step would taken toward
the social betermen of There would be neither charity
confscation in such plan would eliminate ambition in
ave but would greatly reduce poverty ignorance
familiar fruits
But society organized in that way In the struggle for
existence the weak bay driven the wall Property itself
is always money and money saved frequently worth less than
its full value because well placed is quickly available
There nevertheless, large section OF society wisely
organized than society whoe-a gid OF whose
weak not amed whose property the time of great
need always available and is always money This life in
surance.
Life insurance is what society would be and does what society
would do society organized suggested above society,"
instead Of life insurance accomplished these results might begin
hope for speedy realization some OF our social ideals But
conditions and results achieved and no valuable
socially because they belong what call business Life
achieves such results daily with certainty with justice and with
large benefits to society
AS POlcyhOder in the New York Life Insurance Company
you part OF such plan 1908 indirectly you busy
producing just such results every month in that year
WHAT YOU DID IN 1908
Consider for moment this compan-and BY this company
mean primarily memberships was at the beginning of 1908
and consider what has accomplished within twelve months One
year ago the company consisted OF people insured under
ooo policies citizens of every considerable country They were
under definite with each other which called for scientific
cooperation and mutual protection They had paid
fund that all their obligations had then been
met and January 1908 against ultimate average obga
ton of about $1,000 per policy, there accumulated about S52
The membership under definite duly provide
difference between the accumulated and the sums ultimately
due
What happened during 1908: You directly reached and re-
eved the beneaes under 5000 policies their chief resource
had been taken away by DEATH your relief 6 States
and Territories of the United States and into a other countries
The Of this relief expressed in money was
But that only part Of the stor. You these families
property but money you reached them Immediately Just when
need greatest In doing that YOU really did You did
what other organized body OF could do except those
ay organized You paid to these bnehcaes partial equivalent
for the property value of lives cut off prematurey
Most nsrng persons young They have strength of body
reasonable mental equipment and average training When
tey the obligations of home and children they effect
make with society They themselves their chief
But the bank will loan money that when life extinct
very little when life its full If that fails these men
default to society and society has remedy except the opanage
and the reformatory.
large portion Of the deathcaS OF 1908 represented the
salvage Of the really valuable which these families had
which, by all the ordinary rules Of business totally
lost These payments prevented social defaults that
made the orphanage and the reformatory unnecessary
It is worth while for you polyoders know something
of the other things which YOU accomplished the year 1908 YOU
paid in all your membership S499I25So This total in
cluds death claims annues dividends maturing endownen
maturing deferred dividend policies surrender value for
sold the company. You loaned your membership
the security of their policies S8oooooo For your own
protection you increased the general funds Of the company (ook
yaues) bv S42oooooo This increased security behind
each average ultimate policy obligation by about $40