c. *S. 37.24
++G-
SQCA E E
P. F. (2
*}
-
ost of the Development of New
Life Insurance Companies
Tabular Exhibit of Amounts Secured from the Public by Life
Insurance Companies Formed Within the Last Eight Years, the
Dividends Paid by Them, and the Business Placed on Their Books.
-
-
|- In the following pages will be found a very care-
ful tabulation showing the amounts obtained by a
large number of stock life insurance companies for
capital and surplus; the amounts raised by certain
other companies nominally mutual, but financed
through funds secured by the sale to the public of
securities of one sort or another; the amount of
surplus funds still in the possession of these com-
panies on December 31, 1912; the dividends paid
by them to their stockholders; and the amount of
business in force at the end of last year. By a
comparison of the amount of insurance in force and
the surplus remaining on. December 31, 1912, with
the total surplus secured from the stockholders, some
notion of the success or failure of each company,
from the stockholders' point of view, may be se-
cured. It is noteworthy that these companies had
in force in the aggregate at the end of 1912 $872,-
328,876 of paid-for insurance, and their aggregate
surplus at the same time amounted to $9,428,184.
Assuming that the business in force is worth, on the
average, $10 per thousand (which is a very liberal
estimate), it represented a tangible value of $8,723,-
288, which, added to the surplus on hand, gives
a total of $18,151,472, as against total surplus con-
tributions of $28,338,156. In addition, the stock-
holders are out of pocket the interest upon the large
amount invested, which aggregates several million
dollars, during the period under review.
In considering the figures which we submit here-
with, showing the loss which has been sustained by
the investors in these enterprises, it must be borne
in mind that in many cases promoters' fees, amount-
ing in the aggregate to millions of dollars, were
never paid into the treasuries of the companies, and
consequently do not appear in their accounts and
published statements, so that they are omitted from
our totals. Also some companies have subsidiary
concerns connected with them which have raised large
sums of money from the public for development ex-
penses. In order to show the real cost of the busi-
ness in force, these funds should be added to the
surplus expended, but there is no means of ascertain-
ing how much was raised and expended in that way.
It is also noteworthy that in the isolated cases in
which dividends have been paid they have been al-
most without exception taken out of the surpliº.
and not from legitimate earnings.
For clarity we show the amounts received by
each company during each year that contributions
were made to its treasury by the stockholders. The
years in which no payments were made to or by
stockholders are omitted from our tabulation.
We have taken those companies organized during
the last eight years, embracing the whole period fol-
lowing the exposures which began with the internal
disturbances in the Equitable Life Assurance Society
in 1905; and we have included in the tabulation
companies formed during that period which have
already ceased business. - -
From these figures it is clear that, as a group, the
expenses of organization and operation of these com-
- - -i.
panies have been so excessive as to cause a very +
great loss to the holders of their securities; and
it was the knowledge of that fact which led us to
recommend a few months ago, in an editorial in
BEST’S LIFE INSURANCE NEWS that the
various States take up the question of uniform legis-
lation restricting the cost of new business. We can
think of nothing more vitally important to these
life insurance companies—and we have in mind both
their policyholders and their stockholders—than the
conservation of what is left of the original invest-
ment, through the proper limitation of agency ex-
penses. It must also be remembered that prior to
the Armstrong investigation in this State in 1906
the great life insurance companies almost uniformly
maintained that it would be impossible for them
to operate at a lower expense than was then the
common rule, but under the compulsion of the
Armstrong laws the cost of new business was most
sweepingly reduced, to the lasting benefit of com-
panies, policyholders and agents.
H. G.
3.454
£5.
-
--
nºt
--
º
I
---
1913, by
Alºº tº ºr Cº-º-º:
------
ºr
-- -
-
--
-






Name of Company.
Year
Aegis Life, Denver Colo. . . . . . . . . . . . . . . . . . . . . . 1910
1911
1912
Amarillo National, Amarillo, Texas . . . . . . . . . . . . . . §
American Bankers, Chicago, Ill. . . . . . . . . . . . . . . . }}}}
1912
American Home Life, Fort Worth, Texas . . . . . . ;
*. 1911
f
American Life & Acc. Ins. Co., Portland, Ore. ... #}}
1912
(a) Capital impaired $3,213.
American Life Ins. Co., Chicago, Ill. . . . . . . . . . . . . }}}}
+Received for development funds.
American Life, Tampa, Fla. (b) ................ 1905
~ : $ 1907
- 1908
****" 1909
4b) Consolidated with Florida Life in 1910.
American Mutual, Oklahoma City, Okla" . . . . . . . 1905
*Out of business.
American National, Galveston, Texas . . . . . . . . . . 1905
& 1909
1911
1912
American National, Lynchburg, Va.f. . . . . . . . . º #
1908
1909
Date
Com-
menced
Business.
Jan. 28
, Totals. .
June 28
Totals. .
Aug. 1
Totals..
May 24
Totals. .
Jan. 1
Totals. .
Aug. 25 .
Totals. .
Oct. 15
Totals. .
Aug. 15
Mar. 16
Totals. .
Sept. 1
Totals. .
thſerged with South Atlantic Life of Richmond in 1912.
1910
1911
1912
Amicable Life, Waco, Texas
tº e º e º e º e º 'º e º º tº e º ſº tº
Anchor Life, Indianapolis, Ind. . . . . . . . . . . . . . . . .
Anchor Life, Kansas City, Kans. ............... 1911
Apr. 2
Totals. .
June 17
Totals. .
Mar. 4
2
Surplus Divi- Insur-
Remain- dends to ance in
Capital Surplus ing Dec. Stock- force Dec.
Paid in. Paid in. 31, 1912. holders. 31, 1912.
199,050 75,083 . . . . . . . . . . . .
24,900 1 1,596 . . . . . . . . . . . .
10,660 4,660 . . . . . . . . . . . .
234,610 91,339 30,392 . . . . . . 2,621,500
150,000 150,000 . . . . . . . . . . . .
º gº tº $ tº º ſº e º e º ºs e g º e º e 11,002
150,000 150,000 67,564 11,002 3,448,107
226,200 339,300 . . . . . . . . . . . .
91,400 165,220 . . . . . . . . . . . .
7,400 13,217 . . . . . .
325,000 517,737 116,497 . . . . . . 5,197,278
284,140 249,950 . . . . . . . . . . . . .
27,400 24,450 . . . . . . . . . . . .
1,500 1,400 . . . . . . . . . . . .
313,040 275,800 243,687 . . . . . . 4,522,195
102,250 21,306 . . . . . . . . . . . .
15,450 1 1,285 . . . . . . . . . . . .
2,600 13,741 . . . . . . . . . . . .
120,300 46,332 (a) . . . . . . 436,500
100,000 33,982 . . . . . . . . . . . .
& e e º 'º º f21,576 . . . . . . . . . . . .
* * * * * * {##! e e º e º 'º e is e e º e
t5,621 . . . . . . . . . . . .
100,000 78,989 303 . . . . . . 1,446,603
50,000 . . . . . . . . . . . . . . . . . .
36,018 . . . . . . . . . . . . . . . . . .
5,853 . . . . . . . . . . . . . . . . . .
3,204 . . . . . . . . . . . . . . . . . .
95,075 . . . . . . . . . . . . . . . . . . . . . . . . . .
121,000 . . . . . . . . . . . . . . . . . .
100,000 20,000 . . . . . . 286
50,000 50,000 . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . 15,000
100,000 . . . . . . . . . . . . 2 onſ:
250,000 70,000 284,697 35,286 34,560,130
35,880 . . . . . . . . . . . . . . . . . .
73,123 34,506 . . . . . . . . . . . .
18,167 7,595 . . . . . . . . . . . .
tº e º ſº º º 27,120 . . . . . . . . . . . .
127,170 69,221 . . . . . . . . . . . . . . . . . . . .
281,220 265,170 . . . . . . . . . . . .
191,360 190.220 & 14,177
327,420 327,738 . . . . . . . . . . . .
800,000 783,128 645,165 14,177 12,674,411
100,000 17,526 . . . . . . . . . . . .
* * * * * e 2.935 . . . . . . . . . . . .
& e º 'º º e 20,000 . . . . . . . . . . . .
100,000 40,461 13,244 ...... 1,905,157
100,000 100,000 25,563 . . . . . . 1,128,162
Insur-
Date Surplus Divi-
Com- Remain- dends to ance in
menced Capital Surplus ing 1)ec. Stock- force Dec.
Name of Company. Year. Business. Paid in. Paid in. 31, 1912. holders. 31, 1912.
Appalachian Ins. Co., Bristol, Va. . . . . . . . . . . . . . . 1909 Feb. 15 69,140 12,389 . . . . . . . . . . . .
1910 16,920 15,365 . . . . . . . . . . . .
1911 1,920 4,349 . . . . . .
1912 12,920 . . . . . . . . . . . . . . . . . . .
(c) • Capital impaired $15,444. º Totals... 100,900 32,103 (c) . . . . . . 752,675
Arkansas Life, Little Rock, Ark (*) . . . . . . . . . . 1911 Mar. 1 100,000 30,000 78 . . . . . . 2,273,440
(*) Receiver appointed in June, 1913. *
Bankers International, Austin, Tex. . . . . . . . . . . . 1912 May 1 100,000 3,700 2,987 . . . . . . 149,000
Bankers International, Denver, Colo. . . . . . . . . . . . 1911 Oct. 26 166,230 f212,300 . . . . . . . . . . . .
1912 58,770 1 1,706 . . . . . . . . . . . .
Totals. . 225,000 224,006 12,420 . . . . . . 397,187
tC)f this amount about $150,000 was used for organization expenses. -
Bank Savings National, Topeka, Kans. . . . . . . . . . 1909 Jan. 5 200,000 84,375 60,775 . . . . . . 4,007,416
Beneficial Life, Salt Lake City, Utah . . . . . . . . . . . 1905 June 11 100,000 . . . . . . . . . . . . . . . . . .
1908 . . . . . . . . . . . . . . . . . . 4,000
1909 . . . . . . . . . . . . . . . . . . 10,000
1910 . . . . . . . . . . . . . . . . . . 10,000
1911 . . . . . . . . . . . . . . . . . . 10,000
1912 100,000 . . . . . . * * * * * * 17,500
Totals... 200,000 ...... 119,593 51,500 8,696,466
Buffalo Life, Buffalo, N. Y.” . . . . . . . . . . . . . . . . . 1906 Apr. 19 100,000 28,645 . . . . . . . . . . . .
*Out of business.
California National, San Diego, Cal. . . . . . . . . . . . 1911 Feb. 15 250,000 *250,000 39,236 . . . . . . 2,170,704
*Of this amount about $200,000 was used for organization expenses.
California State, Sacramento, Cal. . . . . . . . . . . . . . . 1911 Dec. 27 500,000 *610,420 251,188 . . . . . . 7,916,000
*Of this amount over $300,000 was used for organization expenses. *
Capitol Life, Denver, Colo. . . . . . . . . . . . . . . . . . . . . 1905 Aug. 1 240,000 60,000 . . . . . . . . . . . .
1906 10,000 2,500 . . . . . . . . . . . .
1907 —150,000 150,000 . . . . . . . . . . . .
Totals... 100,000 212,500 116,030 ...... 12,219,961
Carolina Life, High Point, N. C. (d) . . . . . . . . . . . 19 May 1 50,000 . . . . . . 13,880 25,000 . . . . . . . .
(d) Reinsured in Jefferson Standard, Raleigh, N. C.
Cedar Rapids Life, Cedar Rapids, Ia. . . . . . . . . . 1906 June 1 25,000 25,000 . . . . . . . . . . . .
1909 25,000 T3375 ...... ......
1910 . . . . . . . . . . . . . . . . . . tº dº e º e
1911 ...... © Q ſº e º e º º e o 0. 3,000
1912 . . . . . . . . . . . . . . . . . . 3,000
Totals... 50,000 34,875 21,004 6,000 3,004,245
Central Life, Ottawa, Ill. . . . . . . . . . . . . . . . . . . . . . . 1907 Apr. 12 100,000 . . . . . . . . . . . à e e o e s e
1908 6,720 4,057 . . . . . . 3,782
1909 7,240 7,706 . . . . . . 5,336
1910 3,780 3,724 . . . . . . 5,482
1911 2,560 2,560 . . . . . . ,840
1912 79,700 93,900 . . . . . . 5,961
* Totals. . 200,000 111,947 64,991 26,401 8,327,251
Central Life, Lexington, Ky. . . . . . . . . . . . . . . . . . . 1911 Dec. 11 100,000 17,039 . . . . . . . . . . . .
1912 - 56,628 57,555 . . . . . . . . . . . .
Totals... 156,628 74,594 15,636 . . . . . . 575,000
Central States Life, Crawfordsville, Ind... . . . . . . 1909 June 28 50,000 . . . . . . . . . . . . . . . . . .
1910 34,800 . . . . . . . . . . . . . . . . . .
1911 6,625 . . . . . . . . . . . . . . . . . .
1912 8,575 . . . . . . . . . . . . . . . . . .
(f) Capital impaired $9,121, all stock sold at par. Totals.. 100,000 . . . . . . (f) . . . . . . 710,011
Central States Life, St. Louis, Mo. . . . . . . . . . . . . . 1910 Dec. 24 300,000 *450,000 148,157 . . . . . . 4,576,447
*Of this amount $180,000 was used for organization expenses.
3
Name of Company.
Cherokee Life, Rome, Ga.” 1912
*Formerly mutual company; changed to stock basis
certificates.”
Citizens National, Anchorage, Ky. . . . . . . . . . . . . . .
& e º e g o e º e o e o e e º e º e º e
1910
1911
1912
1 on 7
1908
1909
1910
1911
1912
Cleveland Life, Cleveland, Ohio . . . . . . . . . . . . . . . . .
1906
1907
1908
1900
17: 1
1912
Columbia L. & T., Portland, Ore. . . . . . . . . . . . . . .
Colorado National Life, Denver, Colo. (h)...... 1907
(h) Reinsured in Columbia National Life of Boston.
Columbus Mutual, Columbus, O. . . . . . . . . . . . . . . .
h...... 1909
Commercial Life & Casualty, Savannah, Ga. ..
\
Commercial Life, Chicago, Ill.”
1910
*Reinsured in Jan., 1911, in Old Colony Life Ins. Co.
1905
1906
1908
1000
1910
Commonwealth Life, Louisville, Ky.
* * * tº e º e º e
1910
1912
1907
1908
1909
1910
1911
1912
Commonwealth Life, Omaha, Neb. . . . . . . . . . . . .
Conservative Life, South Bend, Ind. . . . . . . . . . . .
Conservative Life, Wheeling, W. Va. . . . . . . . . .
Continental Assurance, Chicago, Ill. . . . . . tº e º O Gº &
Year.
1905
1911
Surplus
Divi-
Insur-
Com- e Remain- dends to ance in
menced Capital Surplus ing Dec. Stock- force Dec.
Business. Paid in. Paid in. 31, 1912. holders. 31, 1912.
Jan. 2 ..... #1,662,700, 305,763 50,004 13,167,712
in 1913. f Represents money raised through sale of “income
May 2 457,898 150.172 . . . . . . 17,322
27,247 30,048 . . . . . . 1,900
& e - e. e. e. e. e. e. e. e. e. e. e. e. e. e. e. 364
Totals. . 485,145 180,220 165,773 19,586 20,868,403
Feb. 1 125,000 62,500 . . . . . . . . . . . .
10,000 ,000 . . . . . . . . . . . .
49,900 33,600 . . . . . . . . . . . .
15,100 9,260 . . . . . . . . . . . .
2,200 1,320 . . . . . . . . . . . .
47,800 47,800 . . . . . . . . . . . .
Totals. . 250,000 159,940 46,403 . . . . . . 6,929,119
Feb. 1 100,000 13,650 . . . . . . . . . . . .
tº e - e. e. g. 650 . . . . . . . . . . . .
- - - - - - 25,700 . . . . . . . . . . . .
100,000 . . . . . . . . . . . . . . . . . .
© e º 'º e º is e º e s e s e º e s a 8,000
tº º ºs e º ſº º e º e º O © e º 'º º e 8,000
Totals... 200,000 40,000 35,000 16,000 5,621,567
Dec. 23 200,000 50,000 . . . . . . . . . . . .
e - © tº e G 150,000 . . . . . . . . . . . .
Totals... 200,000 200,000 . . . . . . . . . . . . . . . . . . . .
Nov. 17 100,000 20,407 . . . . . . . . . . . .
© e º ºs e e 6,385 . . . . . . . . . . . .
8,125 14,400 . . . . . . . . . . . .
8,675 4,010 . . . . . . . . . . . .
1,300 509 ...... 2,910
Totals... 118,100 45,711 55,192 2,910 3,519,134
Sept. 1 174,435 94,097 . . . . . . . . . . . .
25,565 5,953 . . . . . . . . . . . .
Totals. . 200,000 100,050 25,370 . . . . . . 3,106,836
Jan. 31 100,820 23,397 . . . . . . . . . . . .
5,190 20,380 . . . . . . . . . . . .
37,105 . . . . . . . . . . . . . . . . . .
- 5,610 7,020 . . . . . . . . . . . .
Totals... 148,725 50,797 . . . . . . . . . . . . . . . . . . . .
May 31 148,143 . . . . . . . . . . . . . . . . . .
51,857 . . . . . . . . . . . . . . . . . .
14,053 13,106 . . . . . . . . . . . .
9,623 10,709 . . . . . . . . . . . .
633 150,810 . . . . . . . . . . . .
Totals. . 224,309 174,625 2,495 . . . . . . 7,429,854
Aug. 9 169,255 169,255 109,796 . . . . . . 3,984,870
Feb. 7 90,790 70,889 41,887 . . . . . . 277,600
May 31 73,800 36,930 . . . . . . . . . . . .
22,950 21,053 . . . . . . . . . . . . .
53,250 47,154 . . . . . . . . . . . .
21,265 31,935 . . . . . . . . . . . .
22,400 32,400 . . . . . . . . . . . .
40,910 60,765 ...... e e º e º & -
Totals. 234,575 230.238 10,033 ......" 3,613,630
Aug. 15 100,000 50,000 44,577 . . . . . . 602,532
1)ate Surplus Divi- Insur-
Com- Remain- dends to ance in
* menced Capital Surplus ing Dec. Stock- force Dec.
Name of Company. Year. Business. Paid in. Paid in. 31, 1912. holders. 31, 1912.
Continental Life, Wilmington, Del. . . . . . . . . . . . . 1907 Sept. 11 100,180 25,000 . . . . . . . . . . . . *
1908 3,950 2,342 . . . . . . . . . . . .
191 () * 500 550 . . . . . . . . . . . . .
1') || 20,210 20,2/3 . . . . . . * * $ tº * *
1912 2,300 3,450 . . . . . . . . . . . .
Totals... 127,140 51,705 140,592 . . . . . . 9,232,314
Cosmopolitan Life, Atlanta, Ga.”. . . . . . . . . . . . . . . 1912 Jan. 4 f 1,000,000 t 1,000,000 . . . . . . . . . . . . 2,183,000
*Placed in the hands of Georgia Insurance Department in December, 1912. A new company was formed in
1913 with a similar name and took over assets of old company amounting to $585,987. tcash and notes.
I)akota Mutual Life, Watertown, S. D. (i). . . . . . 1909 Mar. 1 117,590 45,173 . . . . . . 1,055
1910 37,030 20,755 . . . . . . 5,318
1911 45,380 46,450 . . . . . . 14,659
1912 . . . . . . . . . . . . . . . . • . 18,913
Totals... 200,000, 112,378 109,509 39,945 7,405,824
(i) Started Mar. 1, 1907, as mutual company. Changed to stock basis Feb. 26, 1909.
Dakota Western, Watertown, S. D. . . . . . . . . . . . . 1909 June 17 113,811 30,000 . . . . . . . . . . . .
1910 7,165. 9,120 . . . . . . . . . . . .
1911 13,201 19,245 . . . . . . 12,085
1912 3,210 4,815 . . . . . . . . . . . .
Totals... 137,387 63,180 7,373 12,085 1,652,500
Detroit Life, Detroit, Mich ... . . . . . . . . . . . . . . . 1911 Jan. 14 191,402 156,727 . . . . . . . . . . . .
1912 15,420 9,028 . . . . . . . . . . . .
Totals. . 206,822 165,755 11,369 . . . . . . 3,230,150
Eastern Life, Onancock, Va.*. . . . . . . . . . . . . . . . . 1907 Jan. 18 25,000 15,000 . . . . . . . . . . . .
1908 957 19,276 . . . . . . 1,000
*Out of business. -
- Totals... 25,957 34,276 . . . . . . 1,000
Eastern Life, New York' .................... 1907 Aug. 22 100,000 50,000 . . . . . . . . . . . . . . . . . . . . .
*Out of business.
Fconomic Life, Phila., Pa.” . . . . . . . . . . . . . . . . . . . 1907 Feb. 1 100,000 44,532 ... . . . . . . . . . . . . . . . . .
*Out of business.
Empire Life, Atlanta, Ga." .................... 1912 March 5 281,788+1086.280 234,013 ...... 18,013,017
*Started in 1900 as an assessment, association, changed to the mutual legal reserve plan on March 2, 1908, rein-
corporated as a stock company March 5, 1912. fincludes $680,000 raised from sale of “income certificates” by
mutual company.
Empire Life, Beaumont, Tex.” . . . . . . . . . . . . . . . . . 1909 Oct. 8 150,000 50,000 . . . . . . . . . . . . . . . . . . . .
*Reinsured in International Life of St. Louis, July 31 1911. Q
Empire Life, Seattle Wash.* . . . . . . . . . . . . . . . . . . . 1911 March_l 306,000 1,027,040 . . . . . . . . . . . . . . . . . . . .
*Business reinsured in West Coast Line of San Francisco, Cal.
Equitable Life, San Antonio, Tex... . . . . . . . . . . . 1910 Aug. 18 176,240 88,120 . . . . . . . . . . . .
1911 10,780 5,390 . . . . . . . . . . . .
. Totals... 187,020 93,510 3,600 . . . . . . 2,263,072
Eureka Life, Richmond, Va.” . . . . . . . . . . . . . . . . . 1906 Mar. 1 27,520 16,336 . . . . . . . . . . . .
1907 29,780 36,473 . . . . . . . . . . . .
*Out of business. .
ult Of DuS1 Ine SS Totals. . 57,300 52,809 . . . . . . . . . . . . . . . . . . . .
Farmers & Bankers, Wichita, Kans. . . . . . . . . . . . 1911 Mar. 31 250,000 171,913 . . . . . . . . . . . .
- 1912 25,000 . . . . . . . . . . . . . . . . . .
- Totals. 275,000 171,913 168,566 . . . . . . 5,702,520
tº & & ſº . May 10 150,000 75,000 . . . . . . . . . . . .
First National Life & Acc., Pierre, S. D. . . . . . . . § 54,300 107,125 . . . . . . 9,228
1911 2,758 89,000 . . . . . . 11,038
1912 17,053 27,897 . . . . . . 13,972
Totals. , 224,111 299,022 9,206 34,238 3,122,539
Year.
1908
1910
1911
1912
Name of Company.
First National Life, Tacoma, Wash. ...........
First Texas State, Galveston, Tex. ............
Florida Life, Jacksonville, Fla... . . . . . . . . . . . . . .
Forest City, Rockford, Ill. . . . . . . . . . . . . . . . . . . . . 1911
1906
1907
1909
1910
1911
1912
Fort worth Life, Fort Worth, Tex. . . . . . . . . . . .
Four States Life, Texarkana, Ark. . . . . . . . . . . . . . #
\
Gem City Life, Dayton, Ohio. . . . . . . . . . . . . . . . . . 1912
1909
Georgia Life, Macon, Ga. (J). . . . . . . . . . . . . . . . . .
1910
(J) Transacts casualty insurance only. Life business
German-American Life, Denver, Colo. . . . . . . . . . . §
&
German National Life, Chicago, Ill. . . . . . . . . . . . . #
1912
Gibraltar Life, Paris, Texas. . . . . . . . . . . . . . . . . . 1912
Girard Life, Philadelphia, Pa.. . . . . . . . . . . . . . . . . 1909
Golden State, Los Angeles, Cal.". . . . . . . . . . . . . §
()
*Reinsured in San Francisco Life in October, 1911.
Date Surplus Divi- Insur-
Com- º Remain- dends to ance in
menced Capital Surplus ing Dec. Stock- force Dec.
Business. Paid in. Paid in. 31, 1912. holders. 31, 1912.
Jan. 2 97,950 11,940 . . . . . . . . . . . .
4,980 15,604 . . . . . . . . . . . .
© o e º e > 27,600 . . . . . . . . . . . .
20,247 . . . . . . . . . . . . . . . . . .
2,200 . . . . . . . . . . . . . . . . . .
Totals... 125,377 55,144 38,469 ...... 1,946,662
Mar. 26 25,000 6,250 . . . . . . . . . . . .
25,000 23,908 . . . . . . . . . . . .
© tº º e º e 22,320 . . . . . . . . . . . .
50,000 52,478 5,012 . . . . . . 2,613,948
May 5 100,000 . . . . . . . . . . . . . . . . . .
31,900 16,348 . . . . . . 1,657
2,960 24,350 . . . . . . . . . . . .
2,570 5,985 . . . . . . 8,684
56,900 . . . . . . . . . . . . 10,930
—8,600 . . . . . . . . . . . . 11,546
69,360 34,680 . . . . . . 19,352
Totals... 254,280 81,813 19,839 52,169 8,701,354
Nov. 27 100,000 . . . . . . 3,404 . . . . . . 1,807,000
May 14 100,000 25,000 . . . . . . . . . . . .
© º O & ſº º 652 . . . . . . . . . . . .
1,943 320 . . . . . . . . . . . .
1,977 . . . . . . . . . . . . . . . . . .
310 175 . . . . . . . . . . . .
460 230 . . . . . . . . . . . .
210 105 . . . . . . . . . . . .
Totals... 104,900 25,482 54,684 . . . . . . 5,002,310
Feb. 25 92,500 . . . . . . . . . . . ... • . . . . .
20,535 37,904 . . . . . . . . . . . .
Totals... 113,035 37,904 14,341 . . . . . . 798,500
Mar. 15 100,000 99,950 73,510 . . . . . . 397,000
Aug. 16 391,000 233,900 . . . . . . . . . . . .
109,900 220,725 . . . . . . . . . . . .
Totals. . 500,900 454,625 71,741 . . . . . . 3,250,000
reinsured in Maryland Life Ins. Co., Baltimore, Md.
Oct. 7 123,100 96,562 . . . . . . . . . . . .
37,270 45,578 . . . . . . . . . . . .
Totals... 160,370 142,140 107,608 ...... 859,500
Apr. 8 101,170 . . . . . . . . . . . . . . . . . .
550 . . . . . . . . . . . . . . . . . .
6,339 46,961 . . . . . . . . . . . .
Totals... 108,059 46,961 12,502 . . . . . . 1,250,561
Feb. 16 100,000 25,000 16,790 . . . . . . 320,500
Jan. 22 419,040 73,957 40,893 . . . . . . 5,311,111
Aug. 18 170,320 14,968 . . . . . . . . . . . .
29,680 27,706 . . . . . . . . . . . .
Totals... 200,000 42,674 . . . . . . . . . . . . . . . . . . . .
Ó
Date
Com-
menced
Name of Company. Year. Business.
Great Northern Life, êrand Forks, N. D. . . . . . º Sept. 10
1912
Totals..
Great American Life, St. Louis, Mo.”. . . . . . . . . . . 1908 . Nov. 6
*Out of business. 4.
Great Northern Life, Toledo, Ohio. . . . . . . . . . . . . 1911 Apr. 3
1912
- Totals.
Great Northern Life, Wausau, Wis. . . . . . . . . . . . § May 7
Totals. .
Great Southern Life, Birmingham, Ala. . . . . . . . . 1908 Apr. 28
1909
Totals. .
Great Southern Life, Houston, Texas. . . . . . . . . . ; July 11
- Totals. .
Great Western Life, Kansas City, Mo.” . . . . . . . . . § Apr. 19
1909
1910
*Merged with International Life of St. Louis in 1912
Totals. .
#Promotion fund. (k) Reorganization fund receipts.
Greensboro Life, Greensboro, N. C.” . . . . . . . . . . . . 1905 July 22
1906
910
*Reinsured in Jefferson Standard Life in 1912.
Totals. .
(1) Interest from guarantee surplus paid stockholders.
Guarantee Life, Houston, Tex. . . . . . . . . . . . . . . . . 1906 Sept. 1
1909
1910
1911
1912
Totals. .
Guardian Life, Seattle, Wash.*. . . . . . . . . . . . . . . . . 1905 Dec. 1
*Out of business.
O
Guardian Life, Madison, Wis. . . . . . . . . . . . . . . . . . . 1910 Oct. 11
Gulf Coast Life, Gulfport, Miss. . . . . . . . . . . . . . . 1912 Apr. 22
Home Life & Cas. Co., Little Rock, Ark.” . . . . . . . 1910 ſay 11
*Merged with the Home Accident of Fordyce in 1911.
Home Life, Oklahoma City, Okla.” . . . . . . . . . . . . 1911 July 1
(z) Capital impaired $10,243.
*Reinsured early in 1913 in American National of Texas.
Idaho State Life Boise, Idaho . . . . . . . . . . . . . . . . . 1910 Jan. 31
Indemnity Life & Acc. Co., Minnéapolis, Minn. . 1910 Feb. 3
Independent Life, Nashville, Tenn. . . . . . . . . . . . . 1907 Jan. 27
- 1908
1909
1910
1911 t
1912
Totals. .
(m) Capital impaired $96,375.
Surplus
Divi- Insur-
Remain- dends to ance in
Capital Surplus ing Dec. Stock- force Dec.
Paid in. Paid in. 31, 1912. holders. 31, 1912.
37,200 7,140 . . . . . . . . . . . .
19,600 27 ww e s • * * * * * * * * *
68,200 2 www s • * * * * * * * * * *
125,000 11,908 4,401 . . . . . . 1,254,000
500,000 302,928 . . . . . . . . . . . .
110,430 75,185 . . . . . . . . . . . .
3,270 ,597 . . . . . . . . . . . .
113,700 78,782 8,841 . . . . . . 1,457,463
200,000 60,000 . . . . . . . . . . . . -
21,350 10,925 . . . . . . . . . . . . *
221,350 70,925 42,696 . . . . . . 3,272,750
100,000 25,000 . . . . . . . . . . . .
56,588 80,266 . . . . . . . . . . . .
156,588 105,266 52,584 . . . . . . 3,847,000
304,830 285,558 . . . . . . . . . . . ©
195,170 217,852 . . . . . . . . tº º tº e
500,000 503,410 355,437 . . . . . . 14,857,356
100,000 f220,039 . . . . . . . . . . . .
* @ tº 9 (k) 129,653 . . . . . . . . . . . .
e ‘º e º & k)35,104 . . . . . . . . . . . .
© tº e º 'º (k) 1,200 . . . . . . . . . . . .
100,000 385,996 . . . . . . . . . . . . . . . . . . . .
100,000 25,000 . . . . . . . . . . . .
46,400 1 1,600 . . . . . . . . . . . .
• * * * * * * * * * * * * * * * * * (1)3,500
146,400 36,600 . . . . . . (l)3,500 . . . . . . . .
100,000 25,000 . . . . . . . . . . . .
tº ſº º ſº & ſº tº gº º º ſº e º e o e º tº 8,000
tº & e > * * * * c e º 'º e º e º e e 8,000
tº º e º º & © & © e º ºs e º 'º e º e 8,000
* * * * * * g g º e º e º 'º e º º º 10,000
100,000 25,000 107,642 34,000 16,035,731
50,000 25,000 . . . . . . . . . . . . . . . . . . . .
108,660 108,660 59,122 . . . . . . 2,369,058
67,430 67,430 14,697 . . . . . . 437,388
160,625 17,500 . . . . . . . . . . . . . . . . . . . .
100,000 50,000 (z) . . . . . . 1,512,000
200,000 143,289 59,920 . . . . . . 2,516,066
100,000 101,072 1,755 . . . . . . 1,310,424
97,320 24,340 . . . . . . . . . . . .
91,750 55,137 • *
10,930 49,721 . . . . . . . . . . . .
13,180 19,540 . . . . . . . . . . . .
11,460
—13,160 18,100 . . . . . . 4,482
450 2,260 . . . . . . 2,114
—1,930
210,000 169,098 (m) 6,596 4,549,827
* * * Date Surplus Divi- Insur-
Com- Remain- dends to ance in
- r -- menced Capital Surplus ing Dec. Stock- force Dec.
Naine of Company. Year. Business. Paid in. Paid in. 31, 1912. holders. 31, 1912.
Indiana National Life, Indianapolis, Ind... . . . . . 1906 Jan. 1 53,400 24,625 . . . . . . . . . . . .
1907 y É. #! * * * * * * s e º e º e
4, —19,785 . . . . . . . . . . . .
1908 (g) { }000. T20600 . . . . . .
1909 2,470 2,170 . . . . . . . . . . . .
1910 28,660 49,674 . . . . . . 764
1911 104,020 61,396 . . . . . . 5,566
1912 84,640 66,384 . . . . . . 18,858
Totals... 320,700 201,074 17,490 25,188 7,063,067
(g). Capital reduced to $80,910 during 1908; surplus reduced by such transaction by $19,785. New management
later increased capital by $20,000, making it $100,910 on Dec. 31, 1908.
Inter-Mountain Life, Salt Lake City, Utah. . . . . . 1911 Aug. 1 81,030 40,627 . . . . . . . . . . . .
1912 14,360 12,242 . . . . . . . . . . . .
Totals. . 95,390 52,869 23,551 . . . . . . 1,556,000
International Life, St. Louis, Mo. . . . . . . . . . . . . . . 1909 Aug. 19 620,350 305,883 . . . . . . . . . . . .
- - & 1912 } —310,175 (P)310,175 . . . . . . 39,600
+ 19,825
330,000 616,058 162,186 39,600 32,590,294
(P) Transferred to surplus by reduction of par value of stock from $50 to $25 per share. -
Inter-Southern Life, Louisville, Ky. . . . . . . . . . . . 1907 Apr. 19 100,000 83,173 . . . . . . . . . . . .
1908 . . . . . . 15,585 . . . . . . . . . . . .
1909 44,435 44,675 . . . . . . . . . . . .
1910 63,136 79,154 . . . . . . . . . . . .
1911 214,808 13,135 . . . . . . . . . . . .
1912 63,044 20,287 . . . . . . 24,501
Totals. . 485,423 256,008 80,844 24,501 7,959,839
Iowa Life, Waterloo, Ia. . . . . . . . . . . . . . . . . . . . . . . 1908 Feb. 18 100,000 25,000 1,912 . . . . . . 2,300,500
Jefferson Life, Oklahoma City, Okla........... 1910 Apr. 14 108,130 51,609 . . . . . . . . . . . .
- 1912 –2,500 . . . . . . . . . . . . . . . . • *
\ Totals... 105,630 51,609 7,153 . . . . . . 1,082,500
Jefferson standard Life, Greensboro, N. c. ..... 1907 Apr. 7 250,000 250,000 . . . . . . . . . . . .
1912 100,000 . . . . . . . . . . . . . . . . . .
Totals... 350,000 250,000 313,612 . . . . . . 38,039,302
Keystone Life, New Orleans, La.”. . . . . . . . . . . . . 1906 July 31 62,296 41,741 . . . . . . . . . . . . . . . . . . . .
*Out of business. *
Lamar Life, Jackson, Miss. . . . . . . . . . . . . . . . . . . . 1906 Apr. 9 50,000 50,000 . . . . . . . . . . . . ©
. 1907 - 6,650 6,650 . . . . . . . . . . . .
1908 700 1.012 . . . . . . . . . . . .
1909 34,190 26,588 . . . . . . . . . . . .
1910 11,420 .303 . . . . . . . . . . . .
1911 1,770 1,460 . . . . . . . . . . . . *
Totals... 104,730 95,013 43,070 ...... 4,902,610
Lexington Life, Lebanon, Ind. . . . . . . . . . . . . . . . . 1912 Jan. 30 100,000 25,000 12,146 . . . . . . 295,756
Liberty Life, New York (o). . . . . . . . . . . . . . . . . . . 1907 Apr. — 100,000 50,000 . . . . . . . . . . . .
(o) Reinsured in Metropolitan Life of New York.
Lincoln National Life, Ft. Wayne, Ind. . . . . . . . . 1905 Sept. 1 110,300 . . . . . . . . . . . . . . . . . .
1906 ,700 . . . . . . . . . . . . . . . . . .
1907 . . . . . . 37,300 . . . . . . . . . . . .
1908 . . . . . . 200 . . . . . . . . . . . .
1909 14,000 8,16i . . . . . . 7,500
1910 2,000 Pvvvº e < * * * * 9,840
§ 1911 11,170 10,104 . . . . . . 11,680
1912 22,830 22,241 . . . . . . 14,403
Totals... 200,000 79,606 50,922 43,423 8,633,081
Name of Company.
Lone Star Life, Dallas, Texas. . . . . . . . . . . . . . . . .
Louisiana National New Orleans, La.”.... . . . . . . 1906
*Reinsured in Pan-American Life of New Orleans
Louisiana State Life, Shreveport, La. . . . . . . . . . .
Majestic Life, Indianapolis, Ind. . . . . . . . . . . . . . . . .
Marquette, Springfield, Ill. . . . . . . . . . . . . . . . . . . . . 1909
1912
1907
1908
1911
1912
Michigan State Life, Detroit, Mich. . . . . . . . . . . .
1910
1911
1912
Mid-Continent Life, Muskogee, Okla. . . . . . . . . . . .
1911
1909
1906
1907
1908
1909
1912
Midland Ins. Co., St. Paul, Minn. . . . . . . . . . . . . . . .
Midland Life, Kansas City, Mo. . . . . . . . . . . . . . . . .
Mjiland Mutual Life, Columbus, Ohio. . . . . . . . .
1906
1907
1908
1909
1910
1911
1912
Midwest Life, Lincoln, Neb. . . . . . . . . . . . . . . . . . . .
1909
1910
1911
Mississippi Valley Life, Little Rock, Ark.”. . . . . .
*Reinsured in the Home Life & Accident Co. of Little Rock in 1912.
Modern Life, South Bend, Ind”. . . . . . . . . . . . . . . . 1909
1910
*Reinsured in Peoples Life of Chicago in 1911.
Montana Life, Helena, Mont. . . . . . . . . . . . . . . . . . . #!!
1912
Date
Com-
menced Capital Surplus ing Dec. Stock- force Dec.
Pursiness. Paid in. Paid in. 31, 1912. holders. 31, 1912.
Jan. 1 100,000 50,000 1,992 . . . . . . 2,919,241
Mar. 17 240,000 60,000 . . . . . . . . . . . . . . . . . . . .
in 1912.
Jan. 12 250,000 125,000 80,115 . . . . . . 1,220,500
Oct. 1 100,000 6,600 . . . . . . . . . . . .
e - © tº e º e .e. e. e. e e s e e o e e 1,791
3,366 82,150 . . . . . §
* * * * * * tº e < e < e < q e e s s 36
tº & © tº º º 6,600 . . . . . . . . . . . .
Totals... 103,300 95,35() 1,273 14,867 3,522,064
Jan. 15 100,000 5,834 . . . . . . 2,894
. 8,630 4,390 . . . . . . 3,101
28,230 35,355 . . . . . . p
43,440 21,982 . . . . . . 1
Totals... 180,300 67,561 7,387 †. 2,922,509
Aug. 28 90,000 90,000 . . . . . . . . . º9
10,000 10,000 . . . . . . . . . . . .
* * * * * * * * g e º 'º º e º e º º 8,000
& e º 'º e o e s tº e º is ſº e º ºs e e 8,000
Totals... 100,000 100,000 118,800 16,000 9,234,216
June 24 228,825 72,220 . . . . . . . . . . . .
43,800 10,540 . . . . . . . . . . . .
6,500 4,285 . . . . . . . . . . . .
Totals... 279,125 87,045 38,216 . . . . . . 1,775,924
Mar. 24 100,000 103,488 15,451 ... . . . . 1,254,045
Aug. 2 100,000 101,120 57,737 . . . . . . 4,395,152
July 2 120,500 62,300 . . . . . . . . . . . .
25,400 10,650 . . . . . . . . . . . .
54,100 27,050 . . . . . . . . . . . •
25,000 12,500 . . . . . . . . . . . .
© tº 6 & © tº dº e o O & © tº e º e º e 5,625
Totals... 225,000 112,500 52,365 5,625 10,127,441
May 1 110,200 11,020 . . . . . . . . . . . .
7,5 750 . . . . . . . . . . . .
2,300 230 . . . . . . . . . . . .
400 100 . . . . . . . . . . . .
3,700 925 . . . . . . . . . . . .
400 100 . . . . . . . . . . . .
27,500 6,875 . . . . . . .3,630
Totals... 152,000 20,000 6,364 3,630 4,805,514
Feb. 9 211,025 50,391 . . . . . . . . . . . .
12,350 12,600 . . . . . . . . . . . .
26,175 26,175 . . . . . . . . . . . .
Totals. . 249,550 89,166 . . . . . . . . . . . . . . . . . . . .
Jan. 28 104,000 35,289 . . . . . . . . . . . .
29,325 ,309 . . . . . . . . . . . .
Totals... 133,325 57,598 . . . . . . . . . . . . . . . . . . . .
Sept. 10 223,605 194,623 . . . . . . . . . . . .
21,300 38.635 . . . . . . . . . . . .
5,095 19,749 . . . . . . . . . . . .
Totals... 250,000 253,007 257,198 ...... 4,606,750
Surplus
Remain- dends to
Divi-
lnsur-
* T C C Il
Name of Company.
National Life, Butte, Mont. . . . . . . . . . . . . . . . . . . . 1911
1912
National Progressive, Cincinnati, Ohio. . . . . . . . . 1910
1911
1912
National Temperance Life, Dallas, Tex. . . . . . . . . 1911
1911
1912
New World Life, Spokane, Wash. . . . . . . . . . . . . . .
North American Life, Chicago, Ill. . . . . . . . . . . . . . 1907
1910
1911
1912
1907
1909
1910
1911
1912
Northern Assur. Co., Detroit, Mich. . . . . . . . . . . . .
1906
1907
1908
1909
\ 1910
tº e º e º e º tº e º ºs e º &
Northern Life, Rock Island, Ill.”
*Receiver appointed in December, 1911, business reinsured in the Federal Life of Chicago, Ill.
1906
1908
1910
1912
Northern Life, Seattle, Wash. . . . . . . . . . . . . . . . . . .
#In addition has returned $12,000 of surplus paid in.
Northern States, Hammond, Ind. . . . . . . . . . . . . . . 1911
1912
North State, Kinston, N. C. . . . . . . . . . . . . . . . . . . . 1906
1907
1908
1910
1911
1912
Northwestern, Aberdeen, S. D.”. . . . . . . . . . . . . . . . 1912
*Succeeded mutual company of same name.
Occidental Life, Albuquerque, N. M... . . . . . . . . . . 1907
1910
Year:
Date
10
Surplus
Divi-
Insur-
Com- Remain- dends to ance in
menced Capital Surplus ing Dec. Stock- force Dec.
Business. Paid in. Paid in. 31, 1912. holders. 31, 1912.
Aug. 9 166,635 45,178 . . . . . . . . . . . .
17,205 16,382 . . . . . . . . . . . .
Totals... 183,840 61,560 32,781 . . . . . . 3,091,000
Jan. 1 100,000 23,823 . . . . . . . . . . . .
tº e º & © tº 20,100 . . . . . . . . . . . .
s & e º 'º & 2,850 . . . . . . 4,000
º º & º e º 1,675 . . . . . . . . . . . .
Totals... 100,000 48,448 22,779 4,000 1,823,627
June 30 100,000 18,500 5,838 . . . . . . 1,214,500
May 23 293,944 105,539 . . . . . . . . . . . .
292,143 140,583 . . . . . . . . . . . .
Totals... 586,087 246,122 246,547 . . . . . . 1,217,500
Feb. 4 200,000 138,202 . . . . . . . . . . . .
65,000 57,500 . . . . . . . . . . . .
135,000 82,125 . . . . . . . . . . . .
100,000 50,750 . . . . . . . . . . . .
100,000 52,375 . . . . . . . . . . . .
100,000 100,000 . . . . . . . . . . . .
Totals... 700,000 480,952 84,620 . . . . . . . 23,733,327
Oct. 19 100,000 25,000 . . . . . . . . . . . .
e e º e º e s tº e is . . . . . . . . . 3,000
is e e º & © e º 'º e º e º & e º e tº 4,000
e e º e º e º e º e º e º e º e º e 5,000
* @ e º 'º e º e º 'º º e º & & © & º 5,000
Totals... 100,000 25,000 16,053 17,000 9,093,460
November 119,513 13,825 . . . . . . . . . . . .
30,487 28,100 . . . . . . . . . . . .
30,625 35,625 . . . . . . . . . . . .
* * > . e. e. 32,298 . . . . . . . . . . . .
22,525 37,635 . . . . . . . . . . . .
Totals. . 203,150 147,483 . . . . . . . . . . . . . . . . . . . .
July 24 62,500 . . . . . . . . . . . . . . . . . . .
49,575 25,400 . . . . . . . . . . . .
12,925 492 . . . . . . . . . . . .
e e º e º e e s e e º e º e º 'º º º 3,750
Totals. . 125,000 25,892 38,532 #3,750 7,509,247
Mar. 7 50,800 19,490 . . . . . . . . . . . .
49,200 24,600 . . . . . . . . . . . .
Totals... 100,000 44,090 24,516 . . . . . . 440,300
Aug. 1 50,500 . . . . . . . . . . . . . . . . . .
49,500 40,667 . . . . . . . . . . . .
tº º e º 'º e 30,050 . . . . . . . . . . . .
tº e º 'º e e 20, e & e º ºs e º e e º ºs e
tº gº º 'º º º 20, tº ſº tº e º e º e º e º e
—50,000 . . . . . . . . . . . . . . . . . .
Totals. . 50,000 110,717 9,340 . . . . . . . 4,500,365
September 98,100 50,000 39 . . . . . . 1,085,500
Jan. 1 100,000 10,000 . . . . . . . . . . . .
,000 10,000 . . . . . . . . . . . .
Totals... 140,000 20,000 17,401 . . . . . . 5,260,579
Date Surplus Divi- Insur-
Com- Remain- dends to ance in
tº nnenced Capital Surplus ing Dec. Stock- force Dec.
Name of Company. Year. P usiness. Paid in. Paid in. 31, 1912. holders. 31, 1912,
Occidental Life, Los Angeles, Cal. . . . . . . . . . . . . . 1906 Aug. 16 100,000 25,000 . . . . . . . . . . . . 4.
1907 150,000 37,500 . . . . . .
1908 . . . . . . 12,500 . . . . . . . . . . . .
Totals... 250,000 75,000 45,967 . . . . . . 7,516,857
Ohio National Life, Cincinnati, Ohio. . . . . . . . . . . . . 1910 Sept. 23 106,400 75,430 . . . . . . . . . . . .
1911 317,160 399,700 . . . . . . . . . . . .
1912 18,780 31,005 . . . . . . . . . . . .
Totals. . 442,340 506,135 229,584 . . . . . . 3,856,713
Ohio State Life, Columbus, Ohio. . . . . . . . . . . . . . 1906 July 25 100,000 25,000 . . . . . . . . . . . .
1907 14,300 5,740 . . . . . . . . . . . .
1908 12,900 16,125 . . . . . . . . . . . .
1909 60,800 ,140 . . . . . . . . . . . .
1910 18,300 11,995 . . . . . . . . . . . .
1911 8,200 8,730 . . . . . . . . . . . .
1912 7,800 7,815 . . . . . . . . . . . .
Totals. 222,300 115,545 24,086 ...... 4,856,662
Oklahoma National Life, Okla. City, Okla. . . . . . 1910 Jan. 10 207,280 159,085 . . . . . . . . . . . .
1911 12,720 5,940 . . . . . . . . . . . .
Totals. . 220,000 165,025 110,419 . . . . . . 5,897,595
Old Colony Life, Chicago, Ill. . . . . . . . . . . . . . . . . . 1907 June 18 100,000 36,254 . . . . . . . . . . . .
1908 16,130 5,221 . . . . . . . . . . . .
1909 23,190 10,413 . . . . . . . . . . . .
1910 5,050 5,409 . . . . . . . . . . . .
1911 41,645 30,420 . . . . . . . . . . . .
1912 —69,774 69,774 . . . . . . . . . . . .
Totals... 116,291 157291" 38,887 ...... 8,241,954
Old Line Life, Milwaukee, Wis. . . . . . . . . . . . . . . ... 1910 Apr. 16 672,635 213,737 224,469 26,905 3,684,500
Oregon Life, Portland, Ore (q). . . . . . . . . . . . . . . . 1906 Apr. 12 100,000 . . . . . . . . . . . . . . . . . .
e 1907 . . . . . . . . . . . . . . . . . . 7,000
1908 . . . . . . . . . . . . . . . . . . 7,000
1909 . . . . . . . . . . . . . . . . . . 7,000
1910 ... . . . . . . . . . . . . . . . . 7,000
1911 . . . . . . . . . . . . . . . . . . 7,000
1912 . . . . . . . . . . . . . . . . . . 7,000
Totals... 100,000 -
(q) Represents payments to guarantee fund; subscriber thereto paid $1,000 per share. No surplus was collected,
and this fund was placed without any expense to the company or to the guarantee fund holders. The payments to
the share-holders are limited to 7% per annum.
Our Home Life, Jacksonville, Fla. . . . . . . . . . . . . . 1910 Apr. 15 47,010 #85,355 . . . . . . . . . . . .
1911 15,008 . . . . . . . . . . . . . . . . . .
1912 11,789 . . . . . . . . . . . . . . . . . .
iSubscribed surplus. (r) Capital impaired $5,071.
Totals... 73,807 85,355 (r) . . . . . . 1,644,400
Pan-American, New Orleans, La. . . . . . . . . . . . . . . 1912 Mar. 28 655,830 421,350 275,530 . . . . . . 8,425,968
Peninsular Life, Detroit, Mich. . . . . . . . . . . . . . . . . . 1911 Apr. 4 108,950 29,835 . . . . . . . . . . . .
1912 1,950 813 . . . . . . . . . . . .
Totals... 110,900 30,648 12,219 789,304
People's Life, Chicago, Ill. . . . . . . . . . . . . . . . . . . . . . 1908 Mar. 12 100,000 . . . . . . . . . . . . . . . . . .
1910 . . . . . . . . . . . . . . . . . . 4,000
1911 . . . . . . 33,000 . . . . . . 1,059
Totals. ... 100,000 33,000 1,815 5,059 3,089,630
11.
Date ºr Surplus Divi- Insur-
Com- Remain- dends to ance in
-- __ º menced Capital Surplus ing Dec. Stock- force Dec.
Name of Company. Year. Business. Paid in. Paid in. 31, 1912. holders. 31, 1912.
People's Life, Frankfort, Ind................... 1906 Aug. 25 100,000 24,316 . . . . . . . . . . . .
& 1910 . . . . . . 5,881 . . . . . . . . . . . .
1911 . . . . . . . . . . . . . . . . . . 5,500
1912 . . . . . . . . . . . . . . . . . . 11,880
Totals... 100,000 30,197 29,516 17,380 5,044,460
People's Life, Little Rock, Ark.” . . . . . . . . . . . . . . . . 1910 May 28 98,337 22,316 . . . . . . . . . . . . . . . . . . . .
*Receiver appointed August 8, 1911.
Peoria Life, Peoria, Ill. . . . . . . . . . . . . . . . . . . . . . . . 1908 Feb. 17 100,000 61,362 . . . . . . . . . . . .
1911 . . . . . . . . . . . . . . . . . . 5,000
1912 . . . . . . . . . . . . . . . . . . 5,000
Totals... 100,000 61,362 67,912 10,000 7,970,578
Philadelphia Life, Philadelphia, Pa.. . . . . . . . . . . . . 1906 Apr. 18 543,030 239,502 . . . . . . . . . . . .
- 1907 16,5 15,848 . . . . . . . . . . . .
1908 1,260 2,624 . . . . . . 33,611
1909 —5.30 1,010 . . . . . . 33,653
1910 . . . . . . . . . . . . . . . . . . 33,581
1911 . . . . . . . . . . . . . . . . . . 33,589
1912 . . . . . . . . . . . . . . . . . . 33,619
Totals... 560,320 258,984 257,217 168,053 23,086,293
Pioneer Life, Fargo, N. D. . . . . . . . . . . . . . . . . . . . . . 1907 Sept. 30 35,000 12,785 . . . . . . . . . . . .
- 1908 65,000 37,215 . . . . . . . . . . . .
Totals... 100,000 50,000 38,570 ...... 6,665,516
Pioneer Life, Kansas City, Mo . . . . . . . . . . . . . . . 1907 July 20 150,000 93,389 . . . . . . . . . . . .
1910 50,000 ,000 . . . . . . . . . . . .
Totals. (u) 100,000 193,389 38,625 . . . . . . 2,616,640
(u) Capital reduced from $200,000 to $100,000 in 1910 to make good impairment of $25,114. t
Postal Life Ins. Co., New York (s)........... ... 1905 June 2 100,000 17,014 . . . . . . . . . . . .
1907 . . . . . . . . . . . . . . . . . . 5,000 r
Totals... 100,000 17,014, 131,084 5,000 50,024,798
(s) Company reinsured Provident Savings Life late in 1910; reinsurance was approved by N. Y. insurance depart-
ment Jan. 20, 1911, and became effective as of Dec. 31, 1910 g
Preferred Life, Grand Rapids, Mich. . . . . . . . . . . . 1910 Jan. 18 100,000 25,000 . . . . . . . . . . . .
1911 . . . . . . 50,000 . . . . . . . . . . . .
Totals... 100,000 75,000 31,340 ...... 4,096,573
Protective Life, Birmirgham, Ala. . . . . . . . . . . . . . . 1907 Sept. 16 101,370 25,776 . . . . . . . . . . . .
* 1908 19,090 19,316 . . . . . . . . . . . .
1909 20,560 16,747 . . . . . . . . . . . .
1910 380 466 . . . . . . . . . . . .
1911 190 536 . . . . . . . . . . . .
1912 100 . . . . . . . . . . . . . . . . . .
Totals... 141,690 62,841 40,149 . . . . . . 4,334,981
Prudential Life, San Antonio, Tex... . . . . . . . . . . . . 1911 May 13 100,000 30,940 . . . . . . . . . . . .
1912 40,800 115,829 . . . . . . . . . . . .
Totals... 140,800 146,769 36446 ...... 2,769,711
Public Savings, Indianapolis, Ind. . . . . . . . . . . . . . . 1910 Jan. 3 113,055 17,910 . . . . . . . . . . . .
1911 15,895 32,370 . . . . . . . . . . . .
1912 69,835 64,799 . . . . . . . . . . . .
Totals... 198,785 115,079 (; ) . . . . . . 8,091,859
(t) Capital impaired $69,514.
Puritan Life, Providence, R. I. . . . . . . . . . . . . . . . . 1907 Oct. 7 100,000 17,875 . . . . . . . . . . . .
1908 15,100 8,215 . . . . . . . . . . . .
1909 7,900 4,913 . . . . . . . . . . . .
1910 14,200 7,485 . . . . . . . . . . . .
1911 12,800 6,400 . . . . . . . . . . . .
Totals... 150,000 29,107 . . . . . . 2,074,644
12
44,888
º
Name of Company. Year.
Republic Life, Chicago, Ill.” . . . . . . . . . . . . . . . . . . . . 1908
*Out of business.
Rockford Life, Rockford, Ill. . . . . . . . . . . . . . . . . . 1910
Roman Standard, Manistee, Mich. . . . . . . . . . . . . . 1912
Rome, Rome, Ga.”. . . . . . . . . . . . . . . .… … 1907
§
1911
Date
Com-
menced
Pusiness.
Jan. 2
Mar. 21
Oct.
1
July 19
Surplus w
Divi-
Insur-
Remain- dends to ance in
*Reinsured in Cherokee Life in 1912. f Represents money received from sale of renewal contracts.
mate amount received from premium on stock and sale of renewal contracts.
13
Capital Surplus ing Dec. Stock- force Dec.
Paid in. Paid in. 31, 1912. holders. 31, 1912.
100,000 55,000 . . . . . . . . . . . . . . . . . . . .
100,000 50,000 14,820 . . . . . . 1,631,393
100,000 5,000 4,688 . . . . . . 165,220
- { 12,000
100,000 #% • * * * * * * * * * * *
© e º e º 'º 21,733 . . . . . . . . . . . .
99,860 fl 20,000 . . . . . . . . . . . .
ſ 9,278
36,830 l fl20,000 . . . . . . . . . . . .
Totals... 236,690 296,682 . . . . . . . . . . . . . . . . . . . .
º #Approxi-
Sam Houston Life, Dallas, Tex. . . . . . . . . . . . . . . 1909 . . . . . . 126,620 60,770 . . . . . . . . . . . .
1910 39,760 8,792 . . . . . . . . . . . .
- 2,700 2,595 . . . . . . . . . . . .
1911 –30,000 . . . . . . . . . . . . . . . . . .
1912 —39,080 300 . . . . . . . . . . . .
Totals... 100,000 72,457 16,003 . . . . . . 5,157,062
San Antonio Life, San Antonio, Tex... . . . . . . . . . . 1910 Jan. 17 270,000 171,468 118,324 . . . . . . 4,715,584
San Francisco Life, San Francisco, Cal. . . . . . . . . 1910 Dec. 23 250,000 55,025 . . . . . . . . . . . .
1911 . . . . . . 165,856 . . . . . . . . . . . . -
Totals... 250,000 220,881 178,435 . . . . . . 5,737,936
. Savings Life, Peoria, Ill.” . . . . . . . . . . . . . . . . . . . . . . 1909 July 10 100,000 29,000 . . . . . . . . . . . . . . . . . . . .
*Reinsured in Old Colony Life of Chicago in September, 1911.
Scranton Life, Scranton, Pa.. . . . . . . . . . . . . . . . . . . 1908 Oct. 27 300,000 . . . . . . . . . . . . . . . . . .
1909 . . . . . . 53,393 . . . . . . 5,388
1910 . . . . . . 35,977 . . . . . . 12,671
1911 . . . . . . ,000 . . . . . . 18.120
1912 . . . . . . . . . . . . . . . . . . 20,865
Totals... *300,000 94,370 103,669 57,044 15,919,860
Shawnee Life, Muskogee, Okla.”. . . . . . . . . . . . . . . . 1911 July 124,150 14,460 . . . . . . . . . . . .
*Out of business. -
South Bend Life, South Bend, Ind. . . . . . . . . . . . . 1910 June 29 50,000 . . . . . . f : . . . . . 737,120
f(Sapital impaired $46,563. t;
Southeastern Life, Greenville, S. C. . . . . . . . . . . 1906 Jan. 1 100,000 . . . . . . (v) . . . . . . 6,116,273
(v) Capital impaired $13,238. *
Southern Ins. Co., Nashville, Tenn. . . . . . . . . . . . 1909 Sept. 1 128,700 122,930 . . . . . . . . . . . .
, e. 1910 23,450 22,620 . . . . . . . . . . . .
1911 14.300 8,755 . . . . . . . . . . . .
1912 34,820 28,317 . . . . . . . . . . . .
te Totals. . 201,270 182,622 1,335 . . . . . . 2,553,004
Southern Life, Fayetteville, N. C. (w). . . . . . . . . 1905 - Nov. 2 125,000 400 . . . . . . . . . . . .
1906 37,320 . . . . . . . . . . . . . . . . . .
- 1907 61,700 32,000 . . . . . . . . . . . .
Totals. 224,020 32,400 . . . . . . . . . . . . ........
(w) Reinsured in Jefferson Standard, Raleigh, N. C.
Southern National Life, Louisville, Ky. . . . . . . . . 1908 Nov. 17 105,850 28,876 . . . . . . . . . . . .
: . - º 1909 74,020 41,677 . . . . . . . . . . . .
1910 8,630 8,125 . . . . . . . . . . . .
1911 * 110 130,840 . . . . . . . . . . . .
1912 # 430 470 . . . . . . . . . . . .
Totals... 189,040 209,988 59,834 . . . . . . 6,032,900
Date
Com-
menced
Name of Company. Year. Business.
Southern States Life, Atlanta, Ga. . . . . . . . . . . . . . .
Totals. .
Surplus
Remain- dends to ance in
Divi- Ins(ºr-
fAdvanced by Southern Securities Company si
Southern States Mutual, Charleston, W. Va.....
Southern Union, Waco, Tex. . . . . . . . . . . . . . . . . . .
Southland Life, Dallas, Tex. . . . . . . . . . . . . . . . . . . .
Standard Life, Camden, N. J. . . . . . . . . . . . . . . . . . . .
Standard Life, Pittsburgh, Pa.. . . . . . . . . . . . . . . . .
Tennessee Life) Nashville, Tenn.*...............
nce organization.
1906 May 1
Totals. .
1909 June 7
1910
1911
Totals. .
1909 Apr. 1
1910
1911
1912
Totals..
1909 Feb. 9
1910
1911
Totals..
1911 April
1912 *
Totals. .
1908 Oct. 14
1909
1910
1911
Totals..
* Merged with International Life of St. Louis in 1912.
Toledo Life, Toledo, Ohio. . . . . . . . . . . . . . . . . . . .
(*) Capital impaired $3,596.
Two Republics, El Paso, Tex. . . . . . . . . . . . . . . . . . . .
Union Life & Trust Co., Muskogee, Okla.”. . . . . .
*Out of business.
Union Life, Chicago, Ill. . . . . . . . . . . . . . . . . . . . . . . -
(x) Capital impaired $8,239.
United Amer. Life, Phila, Pa.. (y)............
(y) Out of business.
Apr. 6
Totals..
Feb. 8
1907 Sept. 17
1909
1910
1911
1912
Apr. 23
Totals. tº
Capital Surplus ing Dec. Stock- force Dec.
Paid in. Paid in. 31, 1912. holders. 31, 1912.
100,000 50,000 . . . . . . . . . . . .
tº º º º e º f566,055 . . . . . . 6,000
100,000 616,055 87,394 6,000 15,331,813
250,000 50,000 ...... ......
tº e º ºs e º e º 'º e º e º 'º e º 'º º 5,000
250,000 50,000 29,763 5,000 6,121,344
100,580 23,620 . . . . . . . . . . . .
63,550 64,595 . . . . . . . . . . . .
12,350 10,555 . . . . . . . . . . . .
176,480 98,770 29,971 . . . . . . 3,087,994
275,387 269,183 . . . . . . . . . . . .
18,003 22,410 . . . . . . . . . . . .
750 614 . . . . . . . . . . . .
570 805 . . . . . . . . . . . .
294,710 293,012 69,593 . . . . . . 9,518,560
100,000 6,500 . . . . . . . . . . . .
* * * > * > ,900 . . . . . . . . . . . .
e e e º e e 32,400 . . . . . . . . . . . .
100,000 59,800 11,511 ...... 788,750
300,000 67,738 . . . . . . . . . . . .
© tº e º 'º º 23,792 . . . . . . 18,000
300,000 91,350 61,645 18,000 8,199,340
100,000 26,825 . . . . . . . . . . . .
57,800 34,754 . . . . . . . . . . . .
15,000 7,625 . . . . . . 12,360 .
18,100 15,575 . . . . . . . . . . . .
190,900 84,779 ...... 12,360 . . . . . . . .
121,055 71,055 . . . . . . . . . . . .
7,895 16,394 . . . . . . 2,427
128,950 87,449 (*) 2,427 2,987,400
150,000 150,000 90,112 . . . . . . 2,156,330
201,226 20,000 . . . . . . . . . . . . . . . . . . . .
112,376 79,416 . . . . . . . . . . . .
16,838 28,456 . . . . . . 5,
—28,420 87,244 . . . . . . 4,315
3,622 3,938 . . . . . . . . . . . .
104,416 199,054 (x) 9,915 1,323,230
100,000 10,000 . . . . . . . . . . . . . . . . . . . .
Name of Company. Year.
United States Annuity & Life Co., Chicago, Ill.. 1907
1908
1909
1910
1911
1912
1912
1906
1907
1908
1909
191()
1911
1912
Wabash, Danville, Ill. . . . . . . . . . . . . . . . . . . . . . . . . .
West Coast Life, San Francisco, Cal. . . . . . . . . . .
1911
1912
Western Reserve, Muncie, Ind.*. . . . . . . . . . . . . . . .
menced
Business.
1906 -J., n. 22
Totals. .
June 1
...Apr. 2
Totals. .
May 29
UNIVERSITY OF MICH
Capital
* . . . . . * Surplus . . . -
Surplus ing Dec.
Iliſiiiiiüll
3 2015 066789230
Divi-
Insur-
Remain- dends to ance in
Stock- force l)cc.
*Succeeded mutual company of same name which commenced business in 1906.
Western States Life, San Francisco, Cal. . . . . . . . . 1910
*$600,000 of this amount was retained by promoters.
1906
1907
1908
1909
1910
Western Union Life, Spokane, Wash. . . . . . . . . . .
1911
1912
Wichita Southern, Wichita Falls, Tex. . . . . . . . .
Wisconsin National, Oshkosh, Wis. . . . . . . . . . . . . 1908
1910
1911
1912
Wyoming Life, Cheyenne, Wyo. . . . . . . . . . . . . . .
Grand Totals
June 25
Nov. 23
Totals. .
Apr. 6
Totals. .
Oct. 12
Totals. .
Apr. 15
e e e s e s e º e e s s e s t c e e s s s e º s s e s e º e s e a g º & e º 'º - 9 º'
ºz ºf ºr ºs
l'aid in. I’aid in. 31, 1912. holders. 31, 1912.
205,330 18,718 . . . . . . . . . . . .
61,112 15,545 . . . . . . 9,828
3,258 3, 195 . . . . . . 11,360
5,300 6,458 . . . . . . 11,279
25,000 575 . . . . . . 13,433
—6,100 18,306 . . . . . . 14,898
6,100 4,190 . . . . . . 15,286
300,000 66,987 37,202 76,084 11,419,962
100,000 61,975 10,590 . . . . . . 706,117
200,000 121,875 . . . . . . . . . . . .
50,000 131,351 . . . . . . . . . . . .
tº e e º e ! 48,665 . . . . . . . . . . . .
* * tº ſº º o 120,220 . . . . . . . . . . . .
55,897 150,000 . . . . . . . . . . . .
44,103 93,465 . . . . . . . . . . . .
tº e º e º º ,000 . . . . . . . . . . . .
350,000 865,575 12,983 . . . . . . 17,150,092
76,458 6,118 . . . . . . . . . . . .
12,850 1,891 . . . . . . 3,042
89,308 8,009 4,726 3,042 1,357,466
1,000,000*1,000,000 216,893 . . . . . . 9,384,550
61,800 15,450 . . . . . . . . . . . .
49,800 12,450 . . . . . . . . . . . .
88,400 27,375 . . . . . . 7,969
tº e e º e º e º 'º e º e e º e º is e 12,000
* ºn tº * * * * * * @ e o 'º º e º 'º e 3,000
200,000 55,275 145,745 22,969 15,123,883
115,000 61,325 . . . . . . . . . . . .
25,700 16,900 . . . . . . . . . . . .
140,700 78,225 55,494 . . . . . . 2,422,140
100,000 25,000 . . . . . . . . . . . .
27,276 34,090 . . . . . . . . . . . .
44,792 60,718 . . . . . . . . . . . .
31,864 198,712 . . . . . . . . . . . .
80,099 165,502 . . . . . . . . . . . .
284,031 484,022 94,051 . . . . . . 3,715,711
300,000 150,000 38,748 . . . . . . 587,000
36,1471528,338,1569,428,184+essage 872.328,876
l,032,417
--
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