Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-02
Sir HenryHarben, Head
OF London 'Pru,
Passes Away.
FORREST T. DRYDEN
SENDS CONDOLENCE
American Organization
Founded Upon Lines of
English Insurance Go.

A remarkable coincidence following
closely the death of former Senator
John F. Dryden, founder and head Of
the Prudential Life Insurance Com
pany, is the announcement of the death
of Sir Henry Harben, founder and head
of the Prudential Assurance Company
of London.
What John F. Dryden was to the
Prudential of America Sir Henry Har-
ben was to the Prudential of the
United Kingdom.
The London Prudential was the or
ginal industrial insurance company
and Sir Henry was really the pioneer
of insurance masters. He was in his
eighty eighth year and his death, CO.
incident with that of Mr.. Dryden,
makes it of peculiar interest here.
Mr.. Dryden and Sir Henry had met
on various occasions and Mr.. Dryden
visited the Prudential Company in Lon
don at different times. In view of the
close proximity Of the two deaths and
of the relationships that existed be-
tween Mr. Dryden and the London
company, the following cable was sent
today to London by Mr.. Forrest F.
Dryden
Cable Sent TO London.
December ., 1911.
"a. c. Thompson, Joint Manager, Pru-
dental, London:
1--WE learn with deepest regret the
death of Sir Henry Harden, your hon
ored president and founder of indus
trial insurance in the United Kingdom.
"Fie was a man of remarkable genius
ard organizing ability, possessing also
those attributes of character which
make men beloved by their fellows.
/"Our late president frequently re-
ferrcd to the courtesy with which Sir
Henry received him at the time he was
founding the Prudential of America,
ard his Willingness to impart informa-
ton about the work.
Please express to the officers of
Your company and to the family of
Sir Henry our sympathy in their great
loss. FORREST r. DRYDEN
"Nice-Presdent Prudential, America"
lea
Recognized Value of Insurance.
Sir Henry Harden was the first to
r54ognize the practical value of in
dustrial insurance and to establish the
Fundamental principles of industrial in
surance practise. which have practi-
cally governed the business for over
sixty years. He was appointed sec
retary of the Prudential Assurance
Company of London in 1851, the COM
pany having been organized for the
transaction of an ordinary business in
I84S. For personal reasons he resigned
l. ntf,t-
ment of accountant, and as such in
augurated a system of weekly audit
of accounts, which has been continued
TO the present time. In 1858 report
was published by a select committee
on insurance associations, which di-
rected attention to the neglect of the
life insurance companies of the day to
extend the principles of life insurance
among the humber classes"
While a method of weekly premium
payments had been adopted and made
fairly popular by the Industrial and
General and the British industry,
neither of these companies had made
a practical success of the business. In
1854 therefore, the directors of the
Prudential decided upon the COM
mencement of the transaction of an
industrial business, and it would ap-
pear that Mr.. Harden from the out
set was in charge of the Industrial
business operations.
Outlook Was DiscOurnging.
The outlook for success being most
discouraging, Mr.. Harden was reap
pointed secretary in 1856 and financial
reforms were introduced which placed
the company upon a more substantial
foundation. For the purpose of obtain
ing a more intimate knowledge of the
working of the system of Industrial in
surance in various parts of the country
Mr.. Harben was directed to make perl
odical visits to the different centres of
industry from which the business was
mainly derived, and for some years he
devoted about three days a week to
these provincial visits, attending meet
ings and making addresses on the SUB
iect of Industrial insurance. Gradually
the more important duties connected
with the management of the company
were performed by Mr.. Harden, incIud-
ing interviews with Mr. Gladstone, VINO
at one time strongly opposed the Pru-
Dental and it's new system of Industrial
insurance.
In the words of Walford, 1T may be |
said of Mr.. Harden that he has lifted
the business of industrial insurance
ont of the slough of despond in which |
If was literally wallowing before his
clear head and great powers of or
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