The daily banner. (Cambridge, Md.) 1897-2008, 1917-07-19
METROPOLITAN LIFE
TAKES PITTSBURGH
All Outstanding Policies of That
Company Will be Reinsured-In-
.,ttrance Authorities of i'ennsyIVa-
MIA And New York Approve Con
tr:trt to PROTECT Holders.

Ii was announced at the office OF
ne State Insurance Department
Tuesday that arrangements have
been practically completed whereby
the Mp1rOpolitan Life Insurance Co.
will take over ali outstanding pOncie.
OF the Pittsburgh Life and Trust Co.
of Pittsburgh. which was alleged 10
nave been wrecked by the manipulate
tens OF a. group OF former officers
now under Indictment ON i charge
Of grand larceny. The Metropolitan
Life also takeS over the outstanding
policies OF the Washington Life In
Strance Co, of New YORK. which
we're reinsured by the Pittsburgh
, ompany about eight years ago.
= hen the Washington Life almost
"ent 30 the wall because OF unprotit-
able investments.
The reinsurance contract has me,
with the approval of the New York
ties as the best way of protecting
! the policy holders OF both companies
! against amy great loss. if any loss at
/ all 1t means that 6o,oho policy
holders OF the TWO companies. yepre-
''''''"S > VI o", -" mum :
'iiN"' '"'t' VIII ne 'e'HH W =" pH 'H'
M'tlo 'oil'1" oh . "ou'I" p"H,S.
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gu az -. VI Wv
II, H"ul :" i-ilt an" " ">ii'ii = On i-ii :
/ III" assumes an 'iV P"l'H it'"lli'''N
! IN d ne" " 90 - pei 's.'i'." s'''' iH'
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/ ~ '.'"' M - Wv
y i'' "o' ''' ot'i ~ "'''' - va
! -N''' me P"i''H - ''''i "'El' ~" 1t
I H'"! roo % "P'i"'l't men - I'll '"e
! 'i's"HN h'I'' 'l' n.'2e'9 vi III" 'o'''-
on -. '''''' -, CO. !"
',I'"r "P iUt '"' - .'.i'' '''' :.
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,'''.'' NO. ~ ny l,.-' '',',o u II ,
! ~ P','s' ~; % 90, ','
~ pm '''r
/ nus III NV '"7V VI F''"u" Poi' .! =
! IN I, Ne uii'S ~ F"'"' 'iV liV"
( y o''' "i"N
/ 81 .h p0t4' ''''' '''' ''''"' pay
! ny ~, - ,:..-,.,.-,,
N '',' ,,, ply 'e, W lHt ~" : Il
i-'l' ~ ~ "i''' W II : 'oii ~
"1 '"N'i' o'ol oii Ct" i,'''i 20 'ltN
| an 'oSSeS u, 'ui ing Nl'Iin 'ilV ~ =
! HNe He"lS " Tue 'on IL dc! IL ~ ne
/ raio III iuIl' mus ahoruins ne nor
"eIS "ll ~ otec'ioH ~, NItno"' Ieiel
! enc ~ the zen ne men was FS-
! IapllShed i'll the contract because the
| assets taken over We're valued D!
| '"T opoll'"h LIZ Oh p"HiS eq
u"I 70 - e pei cent. u lte 'l"D ,,ii
/ 'ieH "H9"iile' un'Sl inc P'i''i''' i4'
'otdi assets uhoer the Two coiiipa-
I -
h"er 'He terms Vi 'ne 'ol'ti act
! II II 'lSo al &c" lh"' 'he h"HuS anu
! accounts vi tue iNo con p"hleS are
20 oe seq ts"'eU rom ,ne reg ul"t
business ol me NE oPoi,'"I LIE. II
any ploHlS accrue from Tue h"h"lihs
VI me assets, tne coh,I"r' prov lueS
| ma, 'ne! Sn"li oe "ppiieu 10 'ne re-
! ""''ioi VI tue lieii ny 'eil"lhS ioi
'lo'iiei NV te'lS 'lie ,iHle IN ~, " nun q
!ol''ieH az " 'e p"'u III iul'. III
,tl 'liSe pepIl 'l'l5''' oiiiIi"is VI
ne OPINION ueSudH 'hd' the SeeuIl-
,IeS VI Tue company taken over pS
ln' we opoii'"H t-le' at lam par
! Nv! ~" N"!"il'lio'''' VIZ lnNi e'9v
| III N"iue "l'nin H>e !e"i " '"'n 'li
eA'ent 'n"' tiiei '" ia We "o "e'eS-
sly VI eniol ing tiIe I"N
" "eiii-i So IOi ii"N M
"H'T VI ''''''''' o",H' ''iuiiis
" 'lli !" go VI w M
lile 'l'soui gu LlIe nd" oo'@I 1ilS III,
'H,S '"l't'' tfti sifzz 80,
t,li " ieoe' 'e ot o.9V0 49,, i.e
teli'S u en- .oii.. a. "Iil ~ nv
le'' "' SUM Dc - - "Ppi GU ~ ''t'
'oui
ne u ou'ieH vi 'he i'lSo"i : II
LIE anu iuS' Eoliip"ns HiS' came ~
! lisht eur! III May Vi lniH aeal' W nen
SeSeli i'leii az (' useu y! !. iDeii'l,
- ->eil' lHStl "ire ''iiliis1ioile' "a
THiiS ~ "iil"' Vi toHSpli lnS ~
i""" rie I'm p"nS oul vi 49,