The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1936-02-14
LARGE GAIN IN
ASSETS SHOWN
jefferson STANDARD Report
Shows ;$329,S37,6l4
Insurance in Force

GREENSBORO, N. c., Feb: Is;
Declaration of cash DIVIDEND
of So per share anYi promotion OF
several officers of the company
were among the nujor develop
ments at the 10Th annual meet
ing Of the directors OF the Jefter-
son Standard Life Ins trance COM
pany, session which was lmme--
diately preceded by the annual
meeting of the stockhold ers, who
received from President, Julian
Price report abiding to 1889
as zone of the best years. II not
the best year, in the corr2anys
history from every viewpoint"
The dividend is payable 'N1 the
10000 shares of stock, a to ;al OF
100000 in capital stock, the
amount of the dividend being
$4,000. 1t is payable February
l to stockholders of record as OF
January 81.
New insurance sold in 1885.
Mr.. Price reported, amounted tp
$49,524,700, an increase of per
cent over 1884, while the increase
for all United States companies
was only one per cent. Our in
surance in force increased by
over SIS, 100000. We now have
in force $329,837,614. The per-
siStency rate was much better"
The company's assets increased
by $4,317,937 during the past
year, the assets now totaling
$62, 206,099, the highest in the
history of the jefferson Standard,
Mr.. Price showed. The mortality
rate has continued to improve.
Gross income increased 1,149,-
724 over 1884, while the disburse-
ments were less by $327,391. The
company paid in dividends to pol
icyholders $547,O97, yet increas-
ed its unassigned surplus $l75,-
600. Our contingency reserve
for real estate depreciation and
fluctuation in value of assets"
said President Price, "has been
increased by $325,OOO, now stand
ing at 81 $4,000. Adding this to
our capital an dsurplus of So
100000 gives us $4,325,OOO in
capital, surplus and contingency
reserves over liabilities. This puts
US in the strongest financial po-
sition in our history"
Col. William A. Blair, of Win
ston-Salem, presided over the
meeting of the stockholders.
President Price presided over the
meeting of the directors. Both
sessions were held in the COM
pany's big home office building
here. In addition to the annual
report by Mr.. Price excellent re-
ports were submitted by various
other officers.
Stockholders, quite largely rep
resented at the first meeting, de-
clared themselves much pleased
with the excellent showing made
by the company during the past
year, and there were a number of
similar expressions at the direc
tors meeting, attended by every
member of the board of direct
orS.
Attention was called to the fact
that the jefferson Standard has
1000 agents and is operating in
"a states, also the District of Co.
lumbia and Puerto Rico.
Payments to policyholders and
beneficiaries in 1885 aggregated
$5,9S1,892, President Prices re-
port showed. The assets of $62,-
206,099 were shown to be zap
proximately double the amount
owned 10 years ago. The COM
pany is continuing to make sat-
isfactory investments, having in
vested more than $6,800,000 in
high class city and residential
property during the year. Bonds
bought in the last two or three
years are yielding a good interest
rate and at the same time have
steadily increased in market val
ne. With more than 81 ESQ.,
600 cash in banks, and more than
$1,200,000 in quickly marketable
United States government bonds,
we have ample liquid resources.
. We continue our payment OF
5 per cent interest on funds held
in trust for policyholders and
beneficiaries. AS long as we con-
tinue to make investments pro-
ducing satisfactory interest yield
we believe we are justified in
paying this rate of interest. The
jefferson Standard has paid 5
per cent interest on funds held IN
trust since organization in 1907"