The tribune independent of Michigan. [volume] (Detroit, Mich.) 1933-1935, 1934-05-26
INSURANCE co.
In STATEMENT
SHOWS GAIN
Supreme Liberty Life
Has Over $4,000
Policyholders
Depression Problems
Successfully Solved

In making public the figures OF
its operations for 1893, the state
ment of Supreme Liberty Life In
surance Company issued this week
discloses advances made along
many lines during a year OF con-
tinued financial chaos.
During 1888 the Company had a
record breaking year In the issu-
ance Of Industrial policies, having
issued during the year 6s.437 new
policies for a total of $13,5S4,59
OF insurance. II issued 1922 new
Ordinary policies Tor a total OF
$2,509,S75.00 OF insurance. De-
spite heavy lapsation due to unem-
ployment, II closed the year with
an actual increase OF 1S.409 poll
cies over last year. having 74.919
policyholders with outstanding in
surance amounting to $23,011,341
In force on its books. an increase
of over $1.500.00O for the year.
Cash Assets Increase
Cash assets increased over
$4,000 during the year. the Com
pany closing the year with the
largest cash balance in its history
having total cash on hand and In
banks OF $76.S7S.24. A small por-
ton of this cash is in closed
banks. but the Company has al
ready charged off as non-admltted
assets an amount sufficient to
more than cover any actual loss
from this source.
AT the end OF the year the Com
pany had met every current obli-
cation that was due. The Com
pany has recently received high
praise because of the fact that 1t
had paid every just claim in full
and in addition had paid many
claims that 1t might easily have
contested and defeated All poll
cy loans and cash surrender val
ues have been promptly made. and
every claim on which proofs had
been completed had been settled
in full.
Two Additional Branches
The Company Is now collecting
over $500 weekly in It's Industri-
al Department alone and has re-
Gently established two additional
branch offices in Chicago to take
care of it's growing business. II
has twenty-seven branch offices in
eleven states.
The Company employs over 500
people who earn their living as a
direct result of its operation.
Many of these people could not
readily find similar employment
with other companies. since SUI
preme Liberty Life is now practi-
cally the only large colored COM
pany remaining In the North.
Real Estate Problem
In spite of the favorable results
from the years work. tho officers
OF the Company were frank In
stating that the only matter that
had given them great concern dur
ing the past year was the large
amount OF real estate now owned
by the Company and which had
come into its hands either through
reinsurance deals or by way of
foreclosures.
Asked what effort was being
made to solve the problem OF the
deprecated market value OF It's
real estate and how II intended to
meet the new State law requiring
IL to dispose OF its real estate, a
high official of the Company stat
ed that every effort was being
made to sell considerable of this
property on long time payments
TO the investing public. In addi-
ton "A method was recently work.
ed out by the Executive Committee
and was successfully presented TO
the Company's policyholders in a
cooperative plan that met the
problem of the reduction in the
appraised values of the Company's
real estate.