The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1914-06-17
NOVELTY IN CORPOR.
ATE MANAGEMENT
Wider Scope of Modern Life In
surance; Emmett Commends
Metropolitan Company

surance; Emmett Commends
Metropolitan Company
rhe report OF the New York STATE
Department OF Insurance on the tri.
ennial examination OF the Netropoli.
tan Life Insurance company has jlsl
been published by the state. Unde.
the law, revised by Governor Hughes
this examination must be made ever,
/ three years. About twtnty examiners
of the Insurance Department devoted
nearly year TO the work, and Mf
| iImmet, as superintendent 0f the de
partment, wrote an extended review
OF the report In this review Com
missioner Emmett not only made al
analysis OF the company $ condition
as business corporation, but OF its
activities along the broader lines 0
social service among industrial work
ers. health education and the conser
gation Of human life He points on
that the company, now having more
than thirteen million policies ont
standing, has assumed such proper
tions that it is practically brought int,
immediate contact with approximatels
one-eishth Of the population Of the
United States.
Here are extracts from suporin
tendent Emmets report:
The fact is, the history anC
| achievements during the last decade
fof the Metropolitan Life 'n3ey.iac,
company, and Of one or two other o.
our large lie insurance comnsnlea
present such shining examples Of d.
licient and enlightened bus'n IS man
agement-with in some cases dash
Of craftsmanship thrown in-that it
seems to me to be quite IS much the
duty OF a supervisory Off ia whe,
IN appropriate occasion arises. &c
comment favorahly upon such cases
Of successful public service by bus,-
Iness corporations under private con
troll, as it would be his duty under
present conditions to administer
sharp criticism il the tendency had
been in the other direction
"The fact that the percentage Of
lapses due 70 the abandonment Of
their insurance by policy holders is
constantly decreasing, speaks olo-
quently TO the same effect
"lf the men in charge Of such
company grow reactionarg in their
tendencies, or blind 10 the social pro
gress Of the ago. the movement to-
ward an ABSORPTION of their powers
by the state itself will, as matters
stand, proceed very rapidly Rut in
the case Of the company under con
liberation there has been such b
frank and fearless recognition Of its
new RESPONSIBILITIES that it is cas-,
enough. after all. TO understand how
it has happened that in the field OF
Industrial insurance the movement
oward state operation and ownership
ias experienced a setback
u have mentioned only few Of the
hinss the company has been doing IN
the iicli Of social service, but ! think
bat these VIII sufficiently show th
extent 10 which this institution has
recognized the modern truth that or
anizci wealth under private man
cement must. II it is going to he
flowed to exist at al. assume certain
,ublic responsibilities which we're not
dreamed Of under any Of the old
'i' simply happens that this great
having so very recently
icen under our critical scutiny. and
.resenting so many admirable illus
rations Of what an efficient and en-
shtened modern business oresniza-
ION on large scale can do in the Way
keeping abreast Of modern thought
seems to be in 2 position where
lay prorcrly use il as an Illustration
the particular point had IN mind
hen : decided 20 prepare this pre- o.
ce to ihe renori Of my eNamirers
r point is. Of course. that privfto
itiaiive and enterprise are al their I.
st still capable ~ doing the finest
lssihie work in fields from which 81
iierly. all the talk has been that o
ese agencies should be compelled =
retire" L.