The Birmingham age-herald., 1910-01-25
STOCKHOLDERS OF PROTECTIVE LIFE Annual Meeting Held Yester-
 day At Noon BUSINESS IN FINE SHAPE Board of Directors and Officers Are Reelected at Meeting at Home
 Office in Empire
 Building.

406T6 WdS nelQ ySSlclddJ eh1 hOOAAt eA' the company's office, on the second floor of the Empire building, meeting of the stockholders of the Protective Life 1nsur- ance company. J. c. Maben, president oi the Sloss-S Sheffield Steel and Iron com pany, presided over the meeting. There were represented out of 14,102 shares of stock, either in uerson or by proxy, lO,6lz shares. The meeting was very harmon ious When the stockholders had heard the report of the officers they unanimous ly. and with enthusiasm, passed the fol- lowing resolutions:
 Resolved, That, after hearing the re- port of the officers of this company and going over the company's affairs, we heartily approve the work done. We ob- serve with pleasure:
 That the business in force has about doubled in the year.
 .That the surplus has grown in an un- expected and gratifying way.
 That the assets have grown by 39 per cent.
 That the business produced Is Of a character any company can afford, carry ing out the company's motto of 'conserv- atism, consistently, insistently and per sistently
 That the death losses have been paid with praiseworthy promptness.
 That the books are clean, the collat- erals good, and the officers in every way to be commended for the showing made.
 That the company's assest are not alone the business done, as important as that Is, nor yet the capital. or It's re- serves, or its surplus, but the character which 1t has and IS surely building: Of these assets. the company's character is of supreme importance and consequence ,-&i &io,,l O r1x nre filafQ the officers on the passage by the last specia' session of the legislature of the compre' hensive deposit law which makes the state the custodian of the company funds to an extent far greater than the values of the policies, making the securi- ty we offer, to the extent of the reserve, absolute; requiring the insurance commis- sioner at the same time to register every policy in the name of the holder, and to affix the great seal of the state on It. We believe our policy contracts are safer than those any foreign company offers, and we approve the statements sent out to that effect by the executive department of the company. This deposit law we be- lieve to be a great asset to the company and certainly no Alabamian who wants insurance can afford to overlook the ab- solute security which 1t offers him Taken in connection with a prudent man. agement, one might as well doubt a gov ernment bond.
 'DThat we present the company's policy to the great insurance public as worthy of confidence, and it's policy contracts as fair and equitable as to rates, and sur render, and other values, and particularly do we commend the cause for which the company stands, the conservation of our cash resources. that we may build up nprcoyuas roDamnnitV. fn- stead of furnishing cash for the swelling of private fortunes and the upbuiding of great industrial and commercial centers in already overfavored localities; and we call attention of the public anew to the fact that this was primarily the purpose of the stockholders In organizing the Pro- tective Life. To the end that this may be accomplished. we beg that every business man in the state when ap- preached give ear to the story of our agents. The company does not presume to ask for greater favor than this"
 Afterward the stockholders elected the following board of directors to serve for the ensuing twelve months:
 J. c. Maben, A. H. Ford, w W. Screws, George H. Malone. Charles Henderson, R. A Mitchell, John B. Knox, R. w. Massey. W. A. Davis. Robert Jemison, Sr.. Fl. IT. Cabaniss, John L. Raul. G. R. Harsh. J. N. Miller W. T. Brown, W. W. Crawford, Frank Nelson. s. J. Bowie, Thomas W. Coleman. B. A. Thompson. H. R. Shorter, M. M. Baldwin, o. P. Gaut W. c. Harrison. Clarence J. Pal mer, William D. Jelks.
 Board of Directors Meeting.
 The board of directors afterward held a meeting and elected the following offi- cers:
 William D. Jelks, president.
 Richard W. Massey, vice president.
 W. W. Crawford. treasurer.
 Clarence J. Palmer. secretary.
 W. G. Harrison, medical director.
 W. H. Gould, consulting actuary.