The Detroit times., 1909-01-21


1t worth while? Would you like of it done
by your Company in 1900? Would almost unlimited
amount OF such work carefully and effectively done be
public benefit
HOW YOUR WORK is LIMITED.
But here a curious condition conronts you. In the
extent OF work. and that alone you advancing
For example in 1908 you issued about $4,000 policies
and from you lost $4,000. 1t startling fact
that had taken into your ranks in 1908 enough
members make good the number dropped making
growth whatever you your would have
violated the criminal law of New York State. Notwithsand
ing the high character OF all you did 1908 Notwithstanding
your willingness and ability to do OF it, the laws of New
York State such that your Company the close OF the
had slow down the busy wheels risk committing
misdemeanor.
This particular awSection 90 Of the Insurance Laws
OF New Yorkhas been full force for years 1t places
arbitrary limitation the legitimate activities OF life nsur
It's direct effect your Company has been the
reduction of plant capable of nsurng people
plant nsuring less than people year. 1t has
reduced outstanding business $Sooooo and reduced the
number of families protected by gild by about
Aside from all questions of its constitutonaity and the
repugnance with which American views
such legislation the law curious for New York State
New York is the Empire" State and boasts of it.
1t has city which, with reason aspes the commercial
and financial supremacy OF the world The story of the city
and the State is filled with the Of great and it is
the record Of great achievements The State and the city
what they alone because of their location but chiefly
because the of the State and of the have strongly
utilized great opportunities
1t strange logic which mpelled the Legislature of
such State conclude that admitted evils in great BUSH
could be cured by limiting its volume. The Legislature
of the State has before applied this doctrine any
business and my judgment the people do approve suc
legislation
THE PRESENT STATUS AND FUTURE
POSSIBILITIES.
call your the general facts contained in the
Balance Sheet and of Income and Disbursements
attached hereto think you will there read the
the query that uniformed people often make why do
life companies need such great accumulaons of
money!
Our ultimate obligations their face value approach
thousand million dollars for all purposes
market vaues) about five hundred and tyseven mil
lions Every dollar of those is absolutely necessary
under clearly defined program to liquidate
liabilities both actual and contingent Our large
because liabilities large Our liabilities large
because doing large work of the kind have
described
You understand, of course that the time has passed
when life companies will attempt defeat repeal
legislation by any ndecton by which will not
the approval of the most scrupuou mind Bad lega-
ton you readily defeat unfair taxation you easily
aba You do this by the creation OF public opinion and
by direct appeal the who legislation.
Legislation follows what it believes public opinion to be.
You enough influence public opinion maeri
ally To do this you have that reliable information
which will convince your Judgment and such information
propose make easily accessible You have it for
the asking We hope to place it before you during the COM
ing year series of Plain Talks Policy holders through
the public prints If convince then would
any kindred question which involves both your personal
interest and the public we-being.
any study the figures attached Study them
you would the balance sheet of your business Com
what iaeacing, equitable and enduring program
of selfhep you part OF in the daily work of the News
York Life.
Dr.. Rks.z4