The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1915-12-10
INSU A
PRESIDENTS OF
NATION N EET
Such Topics as Railroad Facil-
tiles, Development Of Munic-
qualities and Farm Activities
to Be Discussed.

10y Evening nHlalo Ltaaaa Mlfel |
New York, De- g-The ninth an
nual convention OF the Association oil
Life Insurance Presidents met In New
YORK today for three days discussion
of such subjects az the development
OF city communities, farming %activi-
ties and OF railroad facilities. and the
part which life Insurance Investment
funds pay In All three. Policy Re.
serve Investments In Relation to Eco
numic Progress wa the broad gem
eral topic. and federal officials and
transportation and agricultural cx-
perts were invited to join with the
lHfe insurance men In discussing ways
and means to still further advance
this progress.
The chairman OF the convention,
william ID. Wyman, president of tho
Berkshire Life Insurance company of
Flttsneld. Mass. reported that The
assets of life Insurance companies OF
the country had practically doubled
IN the last ten years, ana said this
was characteristic of the ability Of
the American people to amass large
funds rapidly and without much ado.
Tho assets now amount 10 nearly nVe
billion dollars. said Mr.. Wyman. ana
by Investment In city and farm real
estate. and in the bonds OF railroads,
states. counties and municipalities
and school districts they were advant-
ing the economic progress OF the
country. He stated that the life In
s%urance companies, as a class, are
nov the largest holders Of farm mort
cages In the United States. haying
nutdistanced the banks. The farm
H... - fu a. ma. In
surance companies are largely In the
west and south. As against u total
LOT lcgs than one million dollars in all
the eastern and middle Atlantic states
those in the northwestern states alone
amounted to s2si.OO0, 600.
while the assets Of American tife
Insurance companies have doubled In
the last ten years the amount loaned
D. them on real estate mortgages has
increased more han W. ana a hall
times, said MIR. Wyman. 'Of the
assets held by life Insurance com
panlcs at the end o. last year over
81, zoo. coo. 600 were invested In real
estate mortgages. Statistics which
have just been collected boy the assoc
citation how a separation of these
Investments ctWcc farm loans and
lother kinds of real estate securities
for itS out of the $50 life insurance
lcompauies In the United states. These
las companies had asa per cent of
an real estate mortgages held by
American life insurance companies.
These reports show that S55j,0U0.-
900 or $500 per cent were at the end
Of tall invested by these ltS conf
IpuuIes In farm loans S9g3. $50. OO0 or
5g.2i per cent we're invested In other
real estate securities In the United
states. while the balance of S2S.95l,-
900 or i.13 per cen were invested m
real estate securities OF other coun-
tries. chiefly iu Canada, A. n vvluc
OF farm lands and improvements. ace
cordinE To estimates 90 d Cni,e ]
states ccrsus bureau. rs only e ltt'e
even 80 uer cent of tn total value
OF an real property iu this country,
IL appears that life insurance COM
punics have shown a marked prefer
cuce ior farm loans as compared Win
city and village loans.
I'VE are hearing much toda, Of IA,
rural credit problem ana are hcirr
told ,hat farmers In some sections of
the country are often compelled to
pay cNorbituut interest rates, hc
continued. "lt his be- true. sc must
!. look for w. cause outside NJ ;he rates
which life Insurance companies ar,
receiving upon their farm mortgnS,
investments. because We fiud the av-
erage rate ON an our farm loans Il
bc but sos per cen h Is indeed
surprising when We learn that farm
loans average with companies chief
Is engaged iu making such loans. hut
-is2.50O cach. while the city n VII
h iage loans of companies chiefly en-
0 gagged in making such loans, average
$4,000 each, and yield an average
10 interest return of 5.l3 per cent.
Lenders ut money are b|eginulul
- to realize that they should give con.
10 |sidrratiou to how capital supplied b'
them Is guiuc 90 be uscd, whether e
q provide luNufios aud encourage eN
-Itrayagauct. ot To improve values an'
Increase income from the prppcrtie
taken a. security Tho rule applt".
alike 10 cit, Village and farm prop
critics, aud } believe the tim" vi.
\ soon comet IL has not already az
| irived-whcu there viii hc o. bette
Understandable aud closer cooperation
| between borruvr ~ and lenders. tu th'
| end that borrowers may bee better "t
| ablcd ia meet mir obligations az ma
| turity. ana lenders may Dee made Il
feel more secure Ia the Investment