Evening star., 1943-02-19
Insurance Goes To War.


lea are doing one of the outstanding
mass civilian jobs of the war, acting
as combat troops on the country'S
financial battle front Grant Tag
CART, president of the National AS
sociat!on of Life Underwriters, told
the Washington-Balti confer
ence at the Statler Hotel yesterday
Since Pearl Harbor, some 22,00C
life insurance underwater minute
men have enlisted and have sold
s25o0, 900 900 of the series E bonds
alone. Many men are assisting in
the sale of r and G. bonds as well
No. only have the underwriters been
selling bonds, but they have been
working in their own chosen field
with renewed vigor.
BY protecting the futures of Amer
tcs's families they are conserving a
huge volume Of today's greater earn
ings for tomorrow's security by in
creasing the flow of millions of life
insurance company funds into the
essential channels of war industry
They are fighting on two financial
battle lines-the one to feed the
arsenal of democracy and to win the
war and the other to preserve the
security ON the American home and
TO maintain the American way OF
life.
War Bond Sales Pushed.
The life insurance men, he said,
are selling nearly ne-quarter OF all
the War bonds being bought every
month by the people of the United
States. Pointing to another method
Of war financing that the life insur-
ance agents are engaged in, Mr..
Taggsrt said that more than so per
cent OF the new premium income
that flows into companies from
policy holders in l943 is going right
into the United States Treasury
United States life insurance COM
panies have already bought more
than $4,000 100000 in Government
bonds since Pearl Haybor," he de-
clared.
Underwriters associations have
set up service bureaus near many
Army camps to advise members OF
the armed forces Of their privileges
under the Soldiers and Sailors Civil
Relief Act and the National Service
Life Insurance Act.
Or the ether hand, the life insur-
snce people are doing as masterful a
Job as any one in cutting off the
ever present threat of imitation. We
are siphoning off some of those ex-
cess dollars that have come into be-
ing with the growing national in
come.
Afternoon speakers at yesterdays s
session included Wilbur w. Harts-
horn of Hartford, B. N. Woodson of
Hartford and E. M. McConney of
Des Moines, Iowa. They spoke on
special insurance problems. They
are among the top insurance men in
the United States and were given
ovations by the conference. Ralph
Engelsman, associate field director
of the War savings staff, United
States Treasury. stressed the i'm
portance of further large purchases
of War bonds.
The annual report Of the North
western Mutual Life Insurance Co.
shows more than $4,000 600 900 in
sllrance in force and assets in excess
of 81, 500, 900 900, both new records
Sales OF new insurance amounted
to s204 900 900, against 1926, 10000 a
year ago. Payments to policy hold
eres in 1912 totaled sl03, 73l ,0l2. The
report received by the Washington
ONCE shows that the Chicago Office
lea all other agencies in new buSi-
ness during the year.
For the first time in the history OF
the company, bonds owned exceeded
$1,000, 900 600.
Directors Reelected.
Shareholders of the Eastern Build
ing and Loan Association at the
annual meeting held recently re-
elected all directors for the ensuing
year r. Edward Early. secretary
stated that considerable progress
was made during 1912, pointing tc
the tact that resources at the clost
of the year were at high water
mark Of $3.50 600
Directors, meeting later, reelected
all officers including three now OF
leave OF absence for service in thu
armed forces. James A, Donohoe. jr.
assistant secretary, and Thomas r
Harrison and Jerry S Davis, assist.
ant treasurers.
William n Payne, lr., continues
sS president Of the Swear old insti,
tuition with Charles A, Carry. vict
president; Mr.. Early, secretary; vii
liam H. Harrison, treasurer anc
Alfred r Keir. assistant treasurer.
Going to Chicago Farley.
William E Fulton, assistant treas
urer Of the Columbia Federal Sav
lngS and Loan Association, will b
one of the representatives of tn,
American Savings and Loan Insti
tute in Chicago next Monday to at
tend conference Of officers Of tht
Institutes various chapters