OCR Text |
Show THE REORGANIZED NEW YORK LIFE INSURANCE COMPANY. Tho now Hoard of Trustees of tho Now York Llfo Insurance Company, chosen by tho policyholders under tho Armstrong laws, has taken charge of tho company's affairs and has begun tho work of reorganization. In choosing tho principal officers of tho company, tho Board has adhered to tho Idea that a llfo insurance company com-pany Bhould be mnnaged by lite insurance in-surance men. Tho now president Is Darwin P. Klngsley, a collego bred man of good New England stock, who has been in tho company's scrvlco in a variety of capacities for a period of nearly twenty years. In tho parlance ot llfo Insurance, ho "began with tho rato book" and has advanced step by step up to his present position. ' Tho first vlco president of tho company com-pany Is Thomas A. Uuckner, who has served tho company for moro than a quarter of a century, Indeed baa nover had any othor business connection. connec-tion. Associated with theso mon aro others long trained In tho company's service, each an export In his own department de-partment of work. Wm. E. Ingorsoll, who hns for many years had charge of tho company's great business in Europe, Is ono of tio second vlco presidents, pres-idents, and will contlnuo at tho. head of tho company's office In Paris. Ilufus W. Weeks, who has been In tbo 'company's servlco for nearly forty years,' ranks next to Mr. Duckncr as vlco president, and continuous as chief actuary of tho company. Tho policyholders havo expressed tholr belief In this company in no uncertain un-certain terms. The upheaval in llfo insurance in-surance within the last two years has resulted In a great deal of misunderstanding misunder-standing and policyholders, alarmed on matters which woro not very clear to them, havo been disposed to glvo up their contracts at n heavy sacrifice. This has not been true In tho Now York Llfo to nny great extent. Tho com-pauy com-pauy had $2,000,000,000 Insurance on Its books when tho llfo Insurance investigation in-vestigation began, and whllo tho laws of tho Stato of New York now do not0 permit any company to writo over IICO.000,000 a yanr (which is about one-half tho Now York Life formerly did), tho company's outstanding business busi-ness still exceeds $2,000,000,000. Policyholders genorally will bo still further reassured by this action of tho Hoard, as It places at tho head of the company to protect their interests men of thorough training and unexceptionable unexception-able character. |