The Barre daily times. (Barre, Vt.) 1897-1959, 1922-08-26
DEDICATE NAT'L.
LIFE BUILDING
Continued from First Page.)

\
teristics which have come out in the
development of the life insurance
business. Life insurance ID, and must
ALWAYS be, great trust, -She said, in
volying the highest degree of response
bility and conservatism In spite of
the legislation for reserve valuation,
neither Massachusetts nor New York
has yet adopted such legislation.
Amortization, he stated, was adopted
by the companies to save them from
depression in securities. Liberaliza-
ton in policy provisions is taking a
new step every week Canadian com
panies have begun writing policies in
certain amount without examination.
Suicide cases are more and more com
ing into the claim departments as
actionable cases. Many companies
have had trouble with permanent dis
ability provisions, he stated. All these
changes should not be sweepingly con-
demned, Mr.. Rowland stated, but the
general tendency of the business should
not be to venture too far into I'M
charted seas. Life insurance more
than any other line Of business, should
be non speculative, he said. Interest
on farm mortgages has dropped fully
one per cent in the past few months.
Municipal bond interest rates have
also decidedly decreased. Such de-
crease is going on all along the line.
Mr.. Rowland said, and decrease of
one-fourth Of one per cent all through
would lessen the National Lies year
lxy 1..x =
est rates are falling and mortality
rates are rising, Mr. Rowland said, yet
he was the opposite Of pessimistic in
regard to the business. To-day he
called the golden day OF life insur-
ance. Speculation in underwriting and
in investments should nevertheless be
rigidly avoided
The new National Life building was
built without borrowing any money,
and with an increase in the surplus, he
said.
Earle S. Kinsley. speaking of Frank |
O. Partridge, a director Of the com
pany, quoted the national secretary of |
state as saying that there was no po-
sition in his department from his own
down and no position in the consular
service which Mr. Partridge could not |
fill.
Mr.. Partridge was given standing
ovation as he arose to speak. He
spoke of the changed attitude on the
part of la directors in companies, that
is, directors without a prime connec-
tion with the business involved.
Discussing the effect Of popular opin-
ion on life insurance, Mr. Partridge
spoke of paternalism. This feeling
Of the citizen toward the government i
and the workman toward the employer
that they should be taken care of is
bound to result in an increased demand
for life insurance. Mr.. Partridge said.
The government insurance issued dur
ing the war increased the demand by
bringing home the idea Of life insur-
ance. There is little fear in the way
Df government control of life insur-
ance, Mr.. Partridge said. Paternalism
ENDS to draw men away from straight
life insurance, he said
The presentation of the national and
state flags was made in a fitting
speech by Mr.. Edwards President
Rowland responded for the company,
accepting the flags as an evidence of
he loyalty of the agents to the ma
ion, the state and the company.
The flags were brought out onto the
tage and waved as the company sang
he Star Spangled Banner" l.
Mr.. Kinsley, president elect Of the |
association. acknowledged the honor {
onferred upon him by his election and I
'ledged his best efforts to the com a
ANY. For the benefit of visiting agents |,
Ie gave a brief description Of the nat il
Iral characteristics and general char n
cter Of the state. He quoted proph-
cy made by Lord Bryce on a visit to
he state that Vermont would never =
how any startling industrial develop u
nent. but that II had two GREAT as
ets in its men and women and its
He spoke of increased state y
expenses, citing the s6,000,000 yearly q
Expense. The state has 226.5l4 saw !
ngs bank depositors. The state paws =
light and one-half millions in insur- e
nee premiums annually.
Mr.. kinsley touched extensively {,
pom the state history and fittingly n
nded his remarks with toast to the :
Ulcers. His bits Of history showed i,
nat Mr.. Kinsley is much in touch :
18th Vermont, referring TO the 494 Il
fountain peaks that equal or exceed n.
vo thousand feet and that 50 exceed ~
iree thousand feet while four are in 10
Sccss of four thousand feet. OF the -,
"a. 100 are in Rutland county. He
SO referred TO the 400 lakes and
rye ponds that bear names He re- S
rred TO the last fiscal year in state "
,vernment as 100 per cent increase S
expenses. The increare in 20 wears II
IS jumped from $500 per capita p.
$3.50, the largest item being edu-
ton and highways. Vermont has M
'6.5l4 savings bank depositors, 2
to slls,245.000. Our people Il
Try 10000 insurance policies amount p.
z to sl00,O0000o. His remarks gave vi
e out of state folks, Of which there fir
ire ahout 30 agents present a better NJ