Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-03-22
PROVTDENT LIFE
CELEBRATING HALF
CENTURY OF BUSINESS
Great Strides Forward
Have Been Made by Com
pany Since It's Incorpora-
tion in Philadelphia on
March %, 1865.

The ProvIdent Life and Trust Company
or Philadelphia. which Ia located at lth
and Chestnut streets, is today celebrating
It's 5Oth anniversary, and to fully COM
! memorate the completion of half CEN
/ tury In the business life of Philadelphia
an anniversary meeting will be held In the
| New Century Drawing Room, 1874 South
| 18th street. this afternoon at 4:3O o'clock.
| when appropriate exercises for the occa-
| sion will be held.
At the exercises this afternoon j. Bar
ton Townsend. vice president and assist
ant trust officer Of the company. Will
preside. Joseph Ashbrook, insurance adj
wiser, will present n commemorative
tablet. which will be accepted by Asa s.
Wing. president OF the company Jona-
than Is Taylor will reCite "reminiscences.
The company had its origin In the minds
of several nhiladclphians, who were mem
hcrs of tho Society of Friends and who
were attracted by the success OF the
Friends Provident Institution of Brad
ford, England while they were travelling
In England. Early In 1855 meeting was
held i'm the home Of Thomas Evans ~,
Arch street near Sth, for the purpose of
establishing a company on the mutual
plan for the benefit of the American
Friends To investigate the legal aspects
OF such proposition and to arrange
other details, committee was appointed.
" was learned by this committee that
II the company were to extend its opera
tons beyond the borders of the State of
pennsylvania, the laws OF several States
necessitated capital stock, and the COM
mittee recommended that n Joint company
should be Incorporated. substantially on
the basis of the charter of the Provldent
Life and Trust Company. This recom-
mendaton was adopted and the company
was incorporated on March %, 1855
The stockholders of the company held
n meeting on June % of the same year
at which time Samuel r. Shipley, T. Wis
tar Brown, Henry Haines, Richard Cad
ourN, Richard Wood, Joshua II. Morris,
William G. Longstreth. Charles F. Coffin
and Jeremiah Hacker were elected dlrec-
tors, The board as thus constituted
elected Samuel r. Shipley president and
he held office until 1905. when he was sue.
ceedcd by Mr., Wing
IN IN" SIN years which elapsed since
lN'" the growth Of the company had been
so rapid that larger quarters were re-
quired. and in March, 1879 the office was
removed 10 the building 400 Chestnut
street and in 1883 the capital increased
from S5OO,OOO to SlOOO.OO0, the additional
amount being paid in full
In 1919 the assets of the company vera
S2,SSl 900 and the liabilities were $780,
ooo, leaving a surplus of S737,OOO. which
has since grown, until at the end of tho
company's last year It stood at s62250OO.
the assets being $50, 900 and the liabll-
ities $I6'79S,OOO. The business in force in
DO was T77l4.o00 and at the end Of the
last year was s316615OOO.
The officers of the company are Presi-
dent. Asa 5. Wing: Vice president. T.
Wistar Brown; vice president and as
slstant trust officer. j. Barton Town
send trust officer, j. Roberts Foulke;
actuaT, David G. Alsop; treasurer, Sam
vel H. Troth; secretary, C. Walter Bor-
,oh' manager insurance department. j.
Thomas Moore; assistant treasurer. John
way insurance supervisor, j. Smith
Idart' aud assistant trust and title Of
hcer William c. Craige.