The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1915-12-09
Of the United States Are Being
Discussed at a Meeting of
Insurance Men.

NEW YORK, Dec. 9.-ways and
means to advance the economic pro-
gress of the United States are be-
ing discussed by life insurance exc
cutives and transportation and agri-
cultural experts at the ninth annual
convention of the Association of Life
Insurance Presidents, which opened
here today. The insurance men pro-
sent are from practically all the
states in the onion and represent
about ninety per cent of the five
billion dollars of life insurance as
sets held by American companies.
Chairman William d. Wyman OF
Pittsfield. Mass. stated that these
funds have doubled in the last ten
years and. as investments. are play
ing an increasingly important part
in the economic development of the
country, particularly in providing for
large business and Industrial struc-
lures In cities, and the financing OF
farming and railroad operations.
Those taking part in today's pro-
ceedings include President Fairfax
Harrison, OF the Southern Railway
Company; Assistant Secretary Of
Agriculture Carl vrooman; Noryal
a. Hawkins, an automobile and farm
tractor expert of Detroit; Charles
G. Taylor. Jr., OF Richmond, Va;
William Frederick Dix, of New York.
and Edward A. Woods. of Pittsburg.
More Money Loaned.
That much more money is being
loaned by life insurance companies
on real estate mortgages both in the
city and the country than ten years
ago was indicated by today's pro-
ceedings. while an increasing inter-
est is being manifested by the COM
panies in encouraging better agricul-
tural conditions and operations.
Declaring that the American peo-
Pile have the ability to amass large
funds rapidly and without much ado.
Chairman Wyman cited as an illus
tration the growth of the assets Of
the life insurance companies from
two billion, four hundred and ninety.
nine million dollars to four billion.
nine hundred and thirty-five million
dollars in the last ten years. Mr..
Nyman stated that the life insurance
companies, as a class, are now the
largest holders Of farm mortgages in
the United States, having outdis.
tlnced the banks. The farm mort.
gage loans made by the life insurance
companies are largely in the Wes
and South. AS against a total Of
less than one million dollars in all
the eastern and middle Atlantic
states. those in the northwestern
states alone amounted to S2S4,OOO,,
600.
While the assets OF American life
insurance companies have doubled
In the last ten years. the amount
loaned by them on real estate mort
cages has increased more than two
u half times" said Mr.. Wyman
OF the assets held by life insuranc,
companies at the end of last year
over S1.7O0.000,000 were invested ii
real estate mortgages. Statistici
which have Just been collected b,
the association show separation o
these investments between farm LOAF
and other kind of real estate securi
ties, for 148 out Of the $50 life in
5urance companies In the Unite,
States. These 14S companies ha,
ninety-eight and one-fourth per cen
OF all real estate mortgages held b.
American life insurance companies
Much in Farm Loans.
"These reports show that 1855,
100000 or SS.0S per cent were a
the end Of 1914 invested by thes
l4S companies In farm loanx: 1898.
Aso, 900 or $3.50 per cent, were in
'lyestsd In other real estate sscurite