Arizona republican., 1910-12-24
THE NEW YORK LIFE
 IN THIS TERRITORY
A Resume of Its Business For the
 Year.

1 MT I. j. Johnson. agency director | of the New York Life. who leaves with Mrs. Johnson right after the first of the year to attend the meet ing of all the general agents of the New York Life. made the following statement yesterday in regard to the | company:
 | The Arizona branch of the New | York Life Insurance company has written already this year over s1.45O. 900 of new business. We have already paid for $1,13O.OOO. We hope to pay ! for at least S1,2OO,OOO by the close | of the year. We are meeting at the Bon Air hotel, Augusta. Ga. and Mrs Johnson and I expect to enjoy this | delightful outing at this time of the year in the very hear. of the sunny south.
 The New York Life Insurance | company is the biggest company in the world. having over s2.OOO. .OOO. .OOO | of insurance in force. We are the biggest company in Arizona. having over s7.500. 900 of insurance in force on the lives of our best citizens Contrary to popular opinion. the New York Life has considerable mon ey invested in Arizona and in Ari- ! zona securities. in their own way. While the New York Life has never felt that loans on irrigated lands. or in small towns of less than 125.OOO people were absolutely safe invest ments. they have made investments in this territory which have helped build it up. They have invested in this class of securities liberally. Fol lowing are some of the investments: Arizona territorial bonds. 2 15.OOO Prescott & Phoenix R. R
 bonds (which is an exclusive
 Arizona security) .. ..... 200 900 "Nogales R. R bonds - 200 900 Loans to Arizona policy hold
 ers-ovcr .... ..... 300. .OOO
 lOttl --..-.- tl0.WUN
 Besides this, we have invested in Santa Fe bonds over s4 .0OO. .OOO. and in Southern Pacific bonds over g. 500.000. Bonds which enable the Santa F'e and Southern Pacific to build ex- tensions in western territory. No SC curity is better. and nothing helps
 
 than the extension of it's railroad lines.
 The New York Life never consid- cred Los Angeles real estate a safe investment until two years ago After watching the city pass through the panic of 1907. the officers of the New York Life decided that the city was solid. and substantial and one that would stay on the map. In the last two years. they have loaned over s. 100000 on Los Angeles real estate.
 When the Los Angeles Aqueduct was held up for want of money. last August, and the bonds could not be readily placed. although they were guaranteed by the city of Los Ange- les. and Los Angeles county. the New York Life and the Metropolitan Life came forward and each took $500 GOO worth of these bonds, giving the city immediate money to finish the Aque duct
 Whoever says that the money nc the New York Life is tied up in Wall street. is either desirous of misrepre senting the facts. or ignorant of true conditions We have millions invest 'h TIT itdl estate lpdIS. some or the very best securities lie in the valleys of the Mississippi and Missouri rivers. and We have millions placed in these valleys. We also have large amounts of money loaned in San Francisco Portland and Seattle
 Although the policy of the New York Life is not to loan money in small towns. as the centers change so often. they are now seriously con sidering placing some loans on Phoe- nix real estate. I am now conferring with the finance committee of the New York Life. and hope that they will decide to make some good loans on Phoenix real estate within the next six months. realize. however. that a few thousand dollars loaned on real estate here will not help the community any. unless it reduces the rate of interest from & per cent to per cent, which I hardly think if would do. I am in hopes that we will he able to place few choice loans at ( per cent during the com ing year"