The Mount Holly news. [volume] (Mount Holly, Burlington Co., N.J.) 1891-1942, 1912-03-05
PRUDENTIAL HAS
ANOTHER YEAR OF
GREAT PROGRESS
INCREASE IN BUSINESS DURING
1911 WAS MORE THAN
$l67 100000

President Forrest F. Dryden, of the
Prudential Insurance company of Amer
lea, has just Issued to policy-holders the
Prudential's annual report for 1911.
The report shows that the company is
sued and revived in 1911 more than
$136. 600. 900 ordinary insurance, and near
ly 1904, 600, 900 industrial, or a total of
more than $40, 600, 900 paid-for life In
surance. The Prudential now has more
than 81. OO0. 900, 900 insurance in force on
over 100000, policies. The increase in
insurance in force in 1911 was over $751;
900, 900. Policy holders were paid in
1911 over $27. 900, 900, and the total pay
ments to policyholders since organiza-
tion, plus amount held at interest to their
credit, is more than $46e. 600, 900. The
total income In 1911 was over $S1, O00,-
900.
In commenting on the big figures
shown in the report, President Dryden
says: Prudential history records another
year of wonderful progress. The results
secured proves conclusively that life in
surance is recognized necessity. and one
of the few items in the family budget
that costs less to-day than in former years.
The amount of new insurance written and
paid for in both departments was salts
factory, and as to the stability of the
business in force, all previous records
were surpassed. The expense rate was
reduced In both the Industrial and the
Ordinary departments by means of rigid
economy in every ITEM"
Concerning the assets. Mr.. Dryden
says: 1.-THE assets of the company on De-
cember 81, 1911, were conservatively val
ued at $3.50, 1856, 1917. These funds were
invested in securities of the highest grade,
purchased under most favorable con-
ditions, with the certainty of q satisfactory
interest return.
'At the end of 1911 the company's liza
bilities were $24O, 900, 091 80, of which the
most important item is the policy reserve,
amounting to 5000, 909. 1923.
THE company's liabilities include $780,
567. 1861, of which "a. 75O, IA is payable
in the form of policy dividends in 1912,
and $24. s17, 1s2.51 apportioned to date to
participating policies and payable as
policy dividends after 1919.
"After setting aside for dividends to
policy holders the sum of $29, 667, S26. 81,
just referred to, the surplus, including
capital stock, was $1S, 1877, 045.57."
Concerning the taxation of life insur-
ance companies, the new president of the
Prudential vigorously takes up the ques-
ton. He says:
1.-THE company owes it to its policy
holders to call attention again to the
question of life insurance taxation and to
urge their active interest In this important
subject. The growing burden of taxation
federal, state and automatically off,
sets the saving In expenses brought about
through strict economy and increasing
efficiency. During 1910 the policy holders
of American life insurance companies paid
the enormous sum of $13, 032, $50 in taxes,
licenses and fees, and during 1911 an even
larger sum was paid out, but complete
returns are not as yet available. Since
all insurance taxes are paid by the insured,
the question of over-taxation is one of
truly momentous Importance to every
policy holder, whose hearty cooperation
is required to bring about much-needed
and most desirable reform"
President Dryden closes the report as
follows:
'In concluding this review of the years
work. almost all of which was performed
under the personal direction of the late
president, whose plans were outlined to
and approved by the board of directors,
at the beginning Of 1911, desire to say
that, In cooperation with the board it
will be the aim of the officers to continue
the policies which have guided the Pru-
Dental to such signal success in the past,
policies which have meant SO much in
gaining the confidence of the public and
10 keeping faith with our patrons, and
which have built up such large and
competent force of employees both in the
field and home ofice-a force whose
ability we firmly believe is as great as
any, and whose loyalty to the company is
surpassed by none.