The Birmingham age-herald., 1919-01-28
PROTECTIVE LIFE HAS BEST YEAR
 IN ITS HISTORY
Ben w. Lacey Succeeds c. J. Palmer as Secretary-Di- / rectOrs and Officers
 Reelected
Of Birmingham, Ala. Statement December 31, 1918

The stockholders of the Protective Life Insurance company met yester- day at noon in the office of the presi- dent in its home office building, PIP First avenue. There were represent ed in person and by proxy 141,6S0 shares of stock.
 William A. Davis of Anniston was elected chairman of the meeting and Richard W. Massey acted as secretary. The stockholders heard the reports of the president, secretary, treasurer and medical director, and in addition had before them the report of the actu- aries for two state insurance depart ments also the report of Charles E. Mccall, chief examiner of public ac- counts, detailed by the governor of the state to assist the examiners in their work.
 As a basis for the presidents report that officer laid before the stockhold- CTS the report of the actuaries for the Texas and Alabama insurance depart ments made of the company in the month of December, also a later report brought down to December 31 by the
 
 partment.
 This report shows that the company now has admitted assets of s1,o0S,- 000s3 The company's reserve set aside for, the protection of the policyholders with the state treasurer Is shown to &beas746,535, an addition to the reserve Of more than $125,ooO for the year. S ha 6 plained shows that the business in !, force now is $8,572,000, against $7,149,- 1000 year ago, showing an addition to q insurance in force of s1,423,000, decid- aedly the largest gain the company has . ever shown. The company also while increasing it's reserve to the amount or 20 per cent, has increased it's assets 15 per cent. The business written last year was larger by 40 per cent than for any previous year, and the insur- ance gained was larger by even a greater per cent than for any previous year.
 The report also shows that while the losses from influenza had been serious, the large surplus of the company was not disturbed.
 The president reported the resigna- tion of c. J. Palmer, who had been with the company as secretary since it's organization, with much regret. The stockholders passed an eulogistic reso- lution to that effect Ben w. Lacy, ar actuary of 20 years experience, was elected successor to MT. Palmer an6 will take the position of secretary o1 the company as of February 1.
 The following board of electors was elected:
 William D. Jelks, Richard W. Massey w. w. Crawford. W. G. Harrison Charles Henderson, R. A. Mitchell, Rob ert Jemison William Davis, J. H. Will son, J. J. Shannon, D. H. Cabaniss S. J. Bowie, John l.. Raul, G. R. Harsh Frank Nelson, M. M Baldwin, Maj Jelks H. Cabaniss, Thomas w. Palmer
 MEETING OF THE BOARD
 Following the meeting of the stock holders there was held a meeting O the board of directors, most of whom were present. The board of director elected the following officers:
 President, William D. Jelks; vice president. Richard w. Massey; secre tary, Ben w. Lacy; treasurer, W. W Crawford; medical director, w. G. liar rison.
 The president reported to the direc tors that, in his opinion, the compan, would write this year great dea more insurance than ever before; tha its arrangements had been made t largely increase it's capacity for doin: business. He had no hesitancy in pre- dieting record breaking year for tn company. In this connection he tol the board that this January was tn largest January they had ever had i the way of writing new insurance.