New-York tribune., 1921-12-10
Mortgage Loan
Big Insurance
Asset To-day
p.oIfv Investments Doubled
n Ten Years and Are Far
Ahead of Rail Issues.
provident Life Head Says
farmers Heavy Borrowers
Minnesota Governor Tells
Association Nonpartisan
League Menace Is Past

cu..ttnr on "A Decade Of Life IN
-.res Investments" Asa s. Wing.
.-..,aent Of the Provident Life and
rr,st Company Of Philadelphia. told the
...nbers Of the Association Of Life
ya.rranee Presidents, In session at the
Ho.el Astor yesterday, that real estate
.ortrags loans have far outdistanced
-.;,rosd securities as the leading In
...s.msnt Of life insurance companies.
rss statements Of Mr.. Wing were
s..ed upon original statistics proving
.h.s mortgage leans In the hands Of
~. companies had doubled in the last
=, years. increasing from 81, ,22s;ooo,-
oaa h 1911 to s2,4es, ,oo0, GOO to October
:, a. this year In the same period In
r..sments in railroad securities In
leased only $40, 100000 from $685.
10000 1t tire end of 1911
Form So Per Cent of Assets
Real estate mortgage loans form
oors than 80 per cent of the present
.ossl assets Of all companies. Railroad
.,.cr;s;es. which formed more than 35
80. cert ten years ago, have dropped to
Is per cent.
Loans secured by policies rank third
!, ;nvestments. Mr. Wing said. These
snount to $3.50, 900 900. United States
~oy.rnment bonds of $4,000, 900 come
nsxt being 1130 per cent Of the assets.
Tots, assets Of the companies exceed
$500, 100000.
Much OF the money secured By real
estste mortgages. Mr.. Wing said, had
onns 70 the farmers, though in the last
few months there had been decided
treud toward the cities in the interests
Of housing requirements.
Five Others on Speakers List
Five other speakers addressed yes
tsrdsy's meeting, the last Of the if
teenth snnual convention. Among these
we're Governor J. A. O. Preus Of Mime
sotaswho spoke on "A Government Ex-
rsriment versus Life Insurance Princi-
pies"; Henry S. Nollen, president of
the Equitable Life Insurance Company
Of Iowa, whose subject was Recent
Fluctuations in Policy Loans; Dean
Andrew F. West Of the Graduate Col
lsgs Of Princeton University, whose
topic was "1nsuring Our Nation;
Thomas B, Donaldson, Insurance Com
missioner OF Pennsylvania, who spoke
on Essentials and Essentials in
Life Insurance Supervision,' and Wal
ton l. Crocker. president Of the John
Hancock Mutual Life Insurance Com
pany, whose subject was Insurance
and the Modern Political State"
Governor Preus denounced the recent
activities In the Northwest Of the Non
partisan league and asked for the sup
Dor. Of his hearers In an effort to re-
store iife insurance loaning organizs-
ions to the state
asix weeks ago." he said, ~the Gov
nnor Attorney-General and Commits
aener Of Labor and Agriculture, Social
iss-Non-partissn League officers, were
recalled by vote of the people-the
first state officers ever so recalled in
any state. It means that the people
there do not want socialism, but want
again TO embrace the American ideals
ard principles which you and I love.
Therefore ask those of you who have
withdrawn your loaning organizations
from that state, or who are now de-
el!ning to purchase farm mortgages
there, to resume your relations in order
that the misled but honest, the dis
trusting but Industrious tiller of the
soil Of North Dakota may again enjoy
the blessings to which we are all en-
titled as citizens of the greatest of all
nations"
Cooperative Societies Praised
Governor Preus spoke approvingly Of
the farmers cooperative organizations
II his own state. Much good had come
-rom these, he said, and much more
was looked for.
While the present financial readjust-
ment is being reflected in increased
borrowing by policyholders, the 1914
peak Of such loans is not in sight, Mr..
sollen told the convention. Figures re-
seived from com mpanies transacting 80
per cent Of the life insurance business
IN the country show policy loans on
September 80 OF this year 1892. 600, 900,
representing 1853 per cent Of the COM
panles' reserves. In 1914 the per
centage was 1897. The lowest per-
eehtage in ten years was 1857 in 1919,
year remarkable for the amount of
'osns paid off by policyholders. Farm
srs lead city dwelIers in borrowing on
polleies, according to present figures.
lhe convention adjourned late in the
asernoon after a general discussion
" Tie papers presented
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