The Barre daily times. (Barre, Vt.) 1897-1959, 1919-01-21
E',,xsSaal Life Insurance Co.
spdad Unexpected Call Also
Because Of the War
BUT THE REPORTS
ARE FAVORABLE
Pres. F. A. Rowland Was
Reelected at the Annual
Meeting To-day

Reporting to the policyholders to-day
at the annual meeting of the National
Life Insurance company in Montpelier,
President Fred A, Howland announced
that the sum of $500, 1891 was paid out
by his company during the year because
of deaths from influenza and pneumonia
resulting therefrom. This insurance was
on 3lS lives. The sum of Sl96,9l922 was
paid on the lives of men in military or
naval service. There were 500 other
deaths
But in spite of these unusual coHdi.
tions due to epidemic and war, the re.
ports showed a good year.
President Howlands statement was as
follows:
THE hazards Of war, the unprecedent.
ed mortality of the influenza epidemic,
increased federal taxation, and the con.
tinued depression in values have subject.
ed the institution of life insurance in
1918 to the severest test That most of
the old-line companies finished the year
with record OF payments to policy
holders heretofore unapproaehed and yet
with undiminished strength and ability
to meet policy obligations is the strong
est possible evidence of the soundness Of
the system.
"The National Life paid policyholder.
in 1918 $57 1867 ,57354, sum exceeding BY
SSl6,69400 the largest amount hereto.
fore disbursed to policyholders in single /
year
"The amount paid in dividends TO pol.
icyholders was Sl,766y3l422, an Increase
Of sl92,27l.34 over corresponding pay
ments in 19l7.
"The dividend scale will be maintained
for 1919, and dividend payments to poll
Iicyholders in the current year amount
ing to $2,072, ,632.90 have been provided
for in the statement of liabilities
"The mortality for the year was s40i
per cent of the expected, and of these
death losses Sla8,9l922 was on the lives
of men in military or naval service, and
$3.50, 1891 due to deaths in civil life
from influenza and pneumonia resulting
therefrom
"The new insurance paid for was S26,.
l044sl. The increase in insurance in
force on a paid-for basis was S0,S30.5l0
bringing the total insurance outstanding
to S233, ,424 ,376 The interest earned oa
mean ledger assets was 5.l0 per cent.
The increase in assets amounted to 81.
433, 1883.
"The company's assets consist wholly
Of high grade government, state and mu
nicipal bonds (none Of which are in de
fault except one bond for 5000, liability
on which is admitted. of carefully Sc.
lected and inspected first mortgages ON
real estate, and Of loans to policyholders
on the security OF their policies The
company has no real estate except that
necessarily used in conducting its bust.
ness.
Notwithstanding the unprecedented
death losses, largely increased taxes, and
the added cost of doing business, the Dec.
.3l, 1918, statement, made OH the basis
of actual market values as of that date.
shows an increase in general surplus of
The following directors were reelected
to-day to succeed themselves; Senator
w. p Dillingham;, Henry r. Pratt, J
Gray Estey and George Olmstead, who,
with the other members of the board,
complete the list of directors. The fol-
lowing. officers were elected: President,
Fred A. Rowland; vice president, H. NJ
Cutler; secretary, 0. ID. Clark; medical
director, A. B. Bisbee; actuary, c. i.
Moulton; treasurer, w, w Russell; su
perintendent of agencies, e. D. Field;
counsel, G. B. Young; assistant medical
director, E. A. Cotton; inspectors of farm
loans, f. A. Dwinell, George Briggs and
Paul Dillingham; The last named has
been acting in that capacity but has not
been officially designated. Mr.. Dilling
ham has been with the National Life
company for nearly 10 years.