Life, 1905-01-19 · page 36 of 38
Life — January 19, 1905 — page 36: what you’re looking at
What you’re looking at
This is **not a cartoon or satire**—it's a straightforward corporate advertisement, though it appears in *Life*, which was primarily a humor magazine. The page promotes New-York Life Insurance Company's financial strength to potential customers. Key claims include: the company is 60 years old (founded 1845); 1904 was its most prosperous year; it returned over $450 million to policyholders since inception; it holds $390 million in assets; and crucially, it invests only in bonds and mortgages—**explicitly avoiding stocks**, which suggests post-1890s caution following market volatility. The "Protection of One Million Families" tagline emphasizes security and reliability. President John A. McCall's name appears prominently. The detailed balance sheet and income statement serve as proof of financial stability—important reassurance in an era when insurance companies occasionally failed, leaving policyholders unprotected. This represents early 20th-century corporate PR strategy: using detailed financial transparency as marketing.
📄 Transcribed text from this page (OCR, searchable)
Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.
THE PROTECTION OF ONE MILLION FAMILIES. EW-YORK LIFE INSURANCE COMPANY, =1845= The Sixtieth Report, covering detail, is now res This Company is Sixty Years old the yea a scribing the assets It will be mailed to a address on request 1904 was the most prosperous year in the Company New paid business during 1904 exceeded 342 million dollars. of insurance. This is 15 millions more than the new paid business of any previous year, by this Compan 100 millions more than the new paid business of any previous year by any other regular life insurance company The expense ratio for 1904 is lower than for 1903 This Company is purely mutual; no Capital Stock policy-holders are the Company and own. the title to the assets is recorded in 925,000 policies he each “s history The Their policies assets. average about $2,100 This Company has returned to its policy-holders since organization in 1845 over 450 million dollars Cash payments to policy-holders during the single year 1904 amounted to over 4o million di In addition the Company loaned to policy-holders during the their policies 17 million dollars. urs. “ar on the sole security of JOHN A. McCALL, President. =1905= The accumulations under 925, amount to 399 mil dollars, cost value, a The cumulations are required by law and for the fulfilment of the ,000 policies in average of $420 per policy Company's obligations under these policies dollars; they cost million dollars. The Bonds owned aggregate at par 288 million 287 million dollars; their market value Not a single Bond is in default of i is 204 rest This Company does not invest in stocks or industrial securities of any kind This Company files its Detailed Annual Report w ment of Commerce and Labor of the United Insurance Department of the State of New Y« Departments in the Ur all the civilized ith the Depart- tate Insurance the one of the and with the world Governments of countries ul t Court of eld approval This Report, in all its details, including investments general management, is therefore Critics in the world purpose presents so many offic scrutinized by the sever er list of se for any al certificates of BALANCE SHEET, JANUARY 1, 1905. ASSETS. Government, State, City, County.and other Bonds, cost value. (Mawr VALce, $294,309,750) ice da inchede Te Acsets Te Otte Br 377 of market value of Bonds owned over cost.) Bonds and Mortgages (413 first liens) Deposits in 489 Hanks throughout the world (at interest $45, Loans to Poilcy-holders on Policies as security (reserve value thereof, $59,000,000) 5 Real Estate, 23) pieces (including eleven’ office $10,940,000". : Quarterly and Semi-Annual Premiums not yet due, reserve char Liabilities Premium Notes on Pol $5,500,000). Premiums in Transit; reserve charged in Li Interest and Rents accrued. Loans on Bonds (market value, $783,565). (Company does not invest in'stocks.) Total Assets .. (Company 7475 13,257.500 in force (Legal Reserve to secure same, 3,331,618 2,746,326 2,469,578 $59,000 . «+ -$390,660,260 INCOME, 1904. New Premiums Sr6st33.824 Renewal Premiums. TOTAL PR Interest Receipts from Bonds owned > Mortgage loans..20020° 2272 Loans to Policy-holders, secured by Policies Bank Deposits and Collateral Loans TOTAL INTEREST RECEIPTS. Rents from Company's properties. : Profits realized on Securities sold during the year Deposits on account of Registered Bond Policies, ete Total Cash Income .................55- 1,943,083 702,088 946,723 499,688 338,945 wo + $96,891,272 185,367 ) New Business Paid for in 1904 ¢ 32882) $842,212,569 GAIN IN 1904 (4,249 Policies) $15,554,323 LIABILITIES. y Reserve (per certificate of New York Insurance Dept.), Dec. 31, 904 Edi All other Li jes On Policies, Annuities, E: presentation for pay’ Reserve on Policies which the Company aside in excess of the State's requirements R to provide Dividends payable to during 1905, and thereafter as the peric ‘To holders of 20-Year Period P. To holders of 15- To holders of to-Year Pe To holders of | 5-Vear Pi To holders of Annual Di Total (not including $3,247.77 excess of lover cost) Total Liabilities ........ DISBURSEMENTS, 100%. Paid for Death-Claime ($19.734.245), Endowments ($5.051,609 Annuities ($1,723,160), Paid for Dividends 135,989. rah Payments ($95. Ps to Commissions and afl Business of year $42,212,565 and laspection of Risks, $178.155 Nome and Branch Office Expenses, Taxes, 1 Equipment Account, Telegraph, Postaze, Co .739 of Old Business and Miscellaneous Expe *TOTAL DISBURSEMENTS Balance for Reserves—Excess of Income over Disbursements for y‘ *The Expense ratio for 1904 is lower than for 1993, Total Disbursements and Balance for Reserves. $96,891,272 924,712 Total Paid-for Insurance in force ( 22¢:222 ) $1.928 609,308 GAIN IN 1904 (112,001 Policies) $183,396,409 790,058) and other