The Washington times., 1929-05-25
Price Addresses Bar,lsers

- Members Of the trust and insur-
ance professions both travel the
4 ahfgfway OF thrift, ''llitchhiking" for
mutual profit and leagued To pro-
mote manhind's security and hap
piness, Gwilym A. Price, trust
officer, Peoples Savings 4 Trust Co.,
Pittsburgh, said to local bankers
and insurance men last night.
Price addressed the dinner meet.
/ ing Of the fiduciaries section. Dis.
trict Of Columbia Bankers Associa.
tion, and Its guests, including rep
/ resentativea of the District OF Co.
1 aunnbia Life Underwriters Associa,
ton, 1t the Willard Hotel on the
subject OF Life Insurance Trusts
! showing the advantages Of these as
i administered by trust companies and
banks having trust powers.
Telling the trust men that life
Insurance underwriters are bound
to bO their main springs, he. likewise
reminded the latter they were the
persons benefiting most from this
merger Of interests. Emphasizing
i1is assertion, he asked what outside
factors had contributed to the in.
crease In the sale of life insurance
In the past IL years. believing that
the increased knowledge and com
nnnnity standing Of the life insur-
ence underwater Is the principal
one and attributing most of this to
the educational programs and work
Sof the various life insurance COM
panies.
'But here again the trust COM
panies Of the country are playing a
part" he said, because throughout
tho United States the trust men Of
the country have co-operated to a
marked degree In training the life in
Burance men with whom they come
in contact in various phases Of trust
and estate work with which the mod
ern, up-to-date underwater must be
fairly familiar.
II think that most life insurance
men would mention as the first out
side factor, the entry of the United
States Government into the life in
sa1rance field during the World War.
At the time, this entry of the Gov
eri1ment into their business was
frowned upon by many insurance
companies. As a matter of fact, 1t
WAS . blessing in disguise, because
It made millions OF men insurance
minded who had never thought Of
Insurance before, It has left its
nnark upon the 5000, 900 OF men who
have since gone out into business
life.
The second factor. and perhaps
rather unimportant factor, was
the 'flu' epidemic during and follow
ing the war which introduced the
element Of fear and undoubtedly re-
suited In the writing of q great deal
Of life Insurance.; but believe that
The results traceahle to these two
factors are minor when compared
with those traceabIe TO the generous
and whoIe.hearted cooperation Of
the trust companies Of the country.
The banker 10 generally regarded
Rs conservative Of conservatives,
and his judgment iii i business
matter is generally given & great
deal Of weight by the public. 1t Is
impossible to Over-estimate the great
advantage 20 the life insurance bust.
ness and to the individual life In.
e1rance underwater from the whole
hearted Endorsement and co-opera-
ton Of the bankers and trust men
1f the community,
Referring to business Insurance
Ne aaid that leaders in the insur.
ance profession are confidently pre-
dicting the time, within the nexi
decade. when life Insurance writer
solely for business purposes will
equal the Insurance carried BY blsi
4 ness concerns on combustibles
while this may seem like an exag
geration,D he concluded, If on,
analyses the need Tor business lift
insurance, the prediction does no
seem &C al unlikely Or fulfillment.
Harold D. Kraft, president, Dis
trict Of Columbia Life Underwater
Association. told the assemblage tina
fhn trust and insurance men
through cO-Operation, are able Il
create and conserve the estate. thu
guaranteeing fulfillment Of clients
tiltentions.
Rna.a =.