The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1922-12-08
AGRICULTURE OF
RB'NONDECLARED
BASIC Industry
asst Areas Of Farming Land
Are Improved Yearly by
Insurance.

Il N..N
NEW YORK, Dec. S.-"Life in.
tura1ce companies have been large.
" instrumental in establishing the
farm mortgage as a premier in.
vestment in the United States for
safety and reliability OF income"
saHe vice.Presldent William H.
kfngsley Of the Penn Mutual Life
Insurance Co. Of Philadelphia, at
the Sixteenth annual convention
nftthe Association Of Life Insurance
Prssihents here this afternoon
MI KingBley, who spoke on the
topic THE Farm Mortgage the
llse OF Agricultural Health" ex.
aimed that the total farm mort.
age Indebtedness in the United
States had been estimated at but
~ per cent. Of the total value Of
farm lands and buildings and that
SO per cent Of the farms are unin.
numbered. sMr. Kingsley said:
Agriculture is then carrying a
much smaller burden OF indebted.
ness than any other business and
has withstood hard times better
than any other American industry
on al hunt Of this smaller burden
Of debt 1t Is the basic Industry
Of the nation, and the farm hom4
IS the heart Of the nation. The
tteat agricultural areas OF America
Naaye been improved and farming
ede better through the help.
ef application Of life insurance
4 inds throughout a period Of more
7 San fifty. years"
Referring to statistics applying
toklite Insurance companules whose
assets comprise about 90 per cent
otfthe total assets OF all the Amer.
lean companies, Mr.. Kingsley said
that IN the seven years ended with
1921 inyestments in farm mort.
gasss had jumped from $500, 900 900
\ 70 Sf,306,000,000, and that for the
first time the companies loans on
farm property. had come to exceed
their Investments in city mort.
gage loans. In the current year up
to November lot, farm mortgages
Increased over $112,000,00O. making
the ppito;date total holdings OF the
life insurance companies in this
class Of security $1,41S,000, 900.
Sees Increase.
MI Kingsley predicted the like.
lihfod OF greater increases in in.
yestments in mortgage loans, espa.
cially farm, loans. He said: "At
the present time about II per cent
ofthe life insurance companies ad.
pttted assets are invested in Uni.
ID States government bonds. As
-ha necessity for further invest.
ment In government securities has
no wtermined, there will, undoubt.
edly, be a yet greater increasce In
tnsprance company holdings OF
mort ges, and particularly Of mort
gage secured by farm properties.
The only geographical sections
WHICH show decreases in farm
loans held by life companies dur.
Ing the .year period from 1914 to
1921 are the New England and Md
die Atlantic states, and these de.
creases were Of neglible amount"
said Nh. Kingsley. 1.-THE greatest
inc ase, S32O,000,O0O, or over AZ
per cent Of tho total increase in
farm mortgage investments, was in
oie northwestern section. Tha
Southwest, with $170,000,0O0 or
neaslyf26 per cent was next in i'm.
poftance followed by the central
northern, with S64,000,00o or nearly
10 per cent. It will thus be seen
That nearly IS Ter cent OF the to-.
tai increase in farm mortgage loans
was inhthe great agricultural sec.
lions Of the northwest and south.
west; and while the population,
farm values and aggregate farm
loans Of these sections increased
approximately so per cent in ten
years the farm loans of life insue.
ance Companies increased rs per
cent in seven years. In rate pei
cent Or increase Of 1921 farm loans