Evening star., 1933-02-26
ACACIA INSURANCE
COMPANY REPORTS
GAINS DURING YEAR
Local Underwriters Had
$4,143,645 Increase in
Assets During 1882.
SURPLUS AND PROFITS
SUBSTANTIALLY HIGHER
Dividends Are Assured for Next IL
Months, President Montgomery
Says in Statement.
BY EDWARD c. STONE.

Substantial progress is revealed in
the annual report Of the Acacia Mutual
Life Insurance Co., announced yester-
day by William Montgomery, president,
who this year marks his fortieth an
niversary as executive head of the
corporation.
without borrowing any money or
selling any securities" Mr.. Montgomery
said, Acacia last year paid from cur
rent cash income every claim presented
on the day it was received in proper
form. In addition, customary new in
vestments were made the company's
assets increasing S4.143,64576 during
the year-almost 10 per cent. Acacia's
assets at the close of 1882 were As
per cent greater than at the close
of 1929, and its surplus was increased
by 81 per cent during these three years.
Acacia more than earned its divi-
dend over all expenses, and therefore, I
can say definitely for 1888 that its
dividends will not be reduced"
Assets and Surplus Grow.
In the income, amount paid to living
policy holders, including dividends.
amount paid to benedciaries, assets and
surplus for 1880, 1881 and 1882, each
item was larger from year to year.
being at the highest level during the
s12,588,158; amount paid to living
policyholders, including dividends,
s4,129,451 amount paid to benef1-
Charles, s2087549: assets, S49,111 ,969,
and surplus, $1,837,962.
The annual report shows total of
$21,727.763 in first martgage leans on
improved real estate; real estate val
uel at S4,280,734; bonds, s2.845 ,095;
stocks, s179,611; cash in banks and in
Office. $1025,658. loans on companys
policies, s14,516,8l1; net premiums in
process of collection. S3,503,083; in
terest accrued, S731248, and other as
sets, S3019 Ne. assets stand at
$48,816,61e
Liabilities include policyholders'
dividend reserve of $370,905; reserved
for taxes accrued, $197 800; premiums
and interest paid in advance, $39S, S,276;
miscellaneous, $256,6l8; legal reserve
requirements, American Experience
Table Of Mortality and 3Ea per cent
interest on all policies, S45,057,055;
contingency reserve. 100000, and
surplus, s1,837,9s2.
Home Office in Washington.
The company was chartered by
Congress in 1869 and occupies a large
hcme Office building at First street and
Indiana avenue northwest. Branches
are located in SO cities.
Directors are w. L. Andrews, Charles
e. Baldwin, Harry Blake, D. Rufus
Cheney, c. c. Combs, w. K. Cowden,
Paul B. Cromelin, j. Harry Cunningham,
L. Whiting Estes, Robert v. Fleming,
E. c. Graham. James c. Hoyle, Thomas
E. FARRELL, Howard w. Kacy, ].
Claude KEEPER. Arthur D. Marks. John
T. Meany, Joseph H Milans, William
Charles F.. Roberts, H. L. Rust, jr.;
L. p Steuart Eugene E. Thompson,
E. Lee Trinkle, Francis D. Winston
and j. P. Yort.
Life Insurance Club Meets.
The guest speaker Of the February
meeting of the Life Insurance Club of
Washington, D. c., Inc, was G. Will
son Baton, manager of the Washing
ton Office Of the Retail Credit Co.
Mr. Baton outlined the history Of in
spection service in connection with
life insurance. The reports were
and were used as far back as 1841.
In fact, stated Mr.. Baton, those early
reports do not differ greatly from those
of the present.
The inspection Of an applicant for
life insurance as to his moral and
financial fitness was an adjunct of the
life insurance business even before the
medical examination was required. In
the early years the various companies
had their own inspection service and
it was not until 1893 that the present
inspection companies came into ex-
istence. Their growth has been rapid
and at the present time only three of
the major life companies still retain
their own inspection service.