| Show A PLAIN TALK WITH THE POLICYHOLDERS OF THE NewYork Life Insurance Co Broadway New York ANNUAL REPORT To the Policyholders I lIU work ot or your Company during 1905 and 1111 its it cone con itt At tint the cO or of year t r more ordin ilL amI study Your YonI Lu in the exhibits Is twofold You luwe the th the ot of you Jou It r int r t Commerce is more than busi naBs it is 18 th gr greut Lire Life is moro protection it is n it force T t II for lor n it ut of these Hit If it portion of the wel wealth th created your J Jy by bJ could be on a 11 llO ba basis It 11 iii osted so 10 Its liS to urn U Il n reasonable rate of t exalt program be turned into titto ai itt point amI to till tite relief relict or of human a long step would be 00 token n toward the tho social of men There be 10 l nor confiscation ill Kuell u a It not hot ambition fir ot initiative but it would greatly re poverty find their theil familiar fruits fru nut lint so society it is Iii not in that wn way In sh th w weak are brutally driven to th the wall Pro itself is not always K and is frequently worth loss less its full it is not tIl or is not 11 available is n II large of wisely liS as t it gild of MOil on n wf ones OIlS fire are not Oil whose nt ILL I tilt hI tulIP of is available itt is This is life ire Ie be iid it what society would to do if society eie as Hl If f tHI of life tie lie we e might begin begill to hope hop for fOl It of 1 III of out social Hilt But ron eon are ItO less lesH reid no Iett socially they belong to Wt business 1 Life dully with wit It Ii with wit Ii large to society As tt fI ill lii the Nev l W IMe you ou WJ w ei t It of n a plait in you Ou ire wre busy Just such eui III hut i eur VIAt VOL DIU IX lUOS for fOl It this by bJ this I its Is it at the tha beginning of 1908 nUll consider what it has tie lc within twelve months One Oue year Il ago the Company of people insured about USO of considerable country They wore were under with ouch ench oilier which for coop ant and mutual protection They hind had paid stint sums into a fund that fill 1111 matured had then be been n met and on hit 1st against tin au ultimate average or of about 2000 pel iet policy there was accumulated about 25 11 Tue was under definite coil COll COllI I lilly duly to the thc difference between the sums find and the due 1110 What happened OOS 1108 I You 1111 relieved the under policies when whon thc their it chief resource had hO n taken away by death your you l r lief wont into the 41 40 states G 6 of th the United States nUll and into Il 14 countries The file total 1 or of this as in was But that is only a part of th the story Y You sent not hut hilt mOlley you ou reached thell Jill JUHt nt need Cd was greatest St In Iii doing dohig that JOIl really did mOI inure You did what no other othol or 01 body bOlly of oHM 15 men those 0 or You paid to b U a partial ou abut aUt for fOI the thO pro pert value of lives cut olf MOlIt insuring persons fU are young They have of hotly II a reasonable lint and An 11 training W th C the ut of they in t matH n a con with iHy hut but ut of for forA A Urne it is oil Society They are t thou duet iet lint the bunk still 11 lit 10 on 8 Wt w en life Uto Is 18 u extinct wh n life Ure is sit Kt it Atil It if t et until to hit hiss no except the md arid the reformatory A or of hit tenth or of 1108 1008 tho salvage of the one ulle reiLly le which antilles hada which hr by Ill all the 1117 1 luJe ot of w nuta totally tu to that e inide the tho thie J Ij It I iii wOIth while fut fill Jill 85 10 I 0 IUlo of the other which you rull hed in ill tile tie your 1018 You mid ill in sill 11 to ti your own JO total tics dill di Ii li nuRturing 1 for 01 to the Uee You tp own 01 th of their For your U own n I you hull to t that I fluids of 01 tile Nok by br about Thill Balance Sheet January 1 1909 ASSETS I 1 Ital 2 Luau on 00 i I 3 Luau Liia ou l it l oil liD l l nJ L I UI et ial 1 Dt t 81 11 itt lOl U th 14 T 1 7 1 1 it od Jkuta h du dos 5 INCOME 00 u iJ 1 lB et t Mal IJ au htMl ad Ht a lu Ul 0 I I I t I JJ L ed the tho security behind Itch o by about oUt All this l represents mutual help or of the flit Compare it your our other and flud yoni othi in hi 1905 1008 Did Jou do till bettor the tho year it miot wort voit Ii h while Would mild you not like to see suo more of it done h Iy ill In 1009 not flU J almost most of work cu carefully II and effectively done dOlle hn hl u a public benefit now YOUR IS LIMITED jut But here n a curious condition confronts you III extent of your work worl and lii in that alone you OU ne not tul tui For example in you OU about hOW policies from various causes you ou lost It Ii Itis is I a startling fact fact that if you OU taken into your OI ranks in iii enough new to good the out 10 ito growth whatever you I or orom om would ha ye viol the tho cl I hit of ew W York Stute the ligh high of nI nil you on lid did in 1908 1905 your willingness mil ability to to do 10 mOl of it the o of New NewYork ew York State are such that your OU Company 1011 near tw the close of the year had t to slow down lown the bu busy wheels or 01 ril risk n a This 96 90 or of the Insurance lAws Laws of New ew hen in full force for two J I t places un an limitation on the legitimate ties of ll life insurance men I Its effect on your our him been the reduction of n a plant capable ot of insuring a year clr to u it insuring lo lothan than 1 a year I I It his reduced our tug ing business about and r reduced the number of families by our gid gild b by about Aside from flOm 11 all questions of it its constitutionality and andt andI t I he repugnance with which every an views such legislation the law is a curious one for force ce York State to New York is the Empire nl boasts of i it I It hug has I a ci city which with reason S to tw thit commercial anti financial of the world story of the city and the is filed with tUI the of great men aut and is the record of grout grent State Stute and the city are re what they are AlO not t alone one because of their location but chien chiefly b be the men of tJI tue State and ud of the cit city have 0 strongly great opportunities I It was strange logic which the tt of such a State to conclude that admitted cilE evils in a grout could be e hy by limiting it its volume Pile Legislature or of the State has bus never before blore this bet lo 10 fJ any und in m my the do tb such legislation TUE lB POSSIBILITIES l STATUS FUTURE UIRl I 1 cul cull your attention to the general facts In the Shet Sheet und and statement of Income anti amI Dis Disbursements attached hert hereto I think you JOu wi will there thoro rend rond the answer to the query tint that uninformed people so 80 oron often Vly do life insurance companie companies IW such groat accumulations of oC mon money y yOur Our ultimate at their ruco tice value up at two thousand olt our fol for 11 nil market values ulles tue about lIve cn millions Every dollar of miot is ah ab Ii a dt clearly l il iii order to liquidate our liabilities boUt both actual aul anti COl eori Our assets are large because OUI our liabilities al are Our liabilities t are large because we are doing a large work of the kind I have hac You understand of course that time the time lias hus wIen le life insurance wi will attempt to defeat om 01 repeal legislation b by 11 indirection 0 or by Ull any process which wi not flot meet the approval of the most lOlls mind Dad Bad leg legislation vou Jou 11 readily defeat 11 rut foh taxation you Jon Cain ensi easily Iba abate Y You 01 can do thi this b by tile the of public opinion lud hy by to tilt the who JOu Oll in legislation ton Legislation fellows what i It believes public opinion to 10 be You are itte numerous enough to influence Po 10 10 this you yon have that 1 ie information which wi ili your Ol Wt we to Oui easily wl hUb le You CIUl caim have ULO it for the to I It before you rou during 1 lime in iii n a series or of lalI to through the tho I If wo we convince you then act lt us you ron would 01 on fU nuy queston which both your 01 nut the the public In Ill UllY ease study the tho Study them is you 01 would the balance of JOI own busin business 8 Command C OL 01 criticise them i If they d deserve re either Hut But above nl all ob observe wo what n a I 1111 HI tHO program of you OU nie It a ot of il iii the lie h l o of tho W C 1 XU Nun 1111 J 1 11 J LIABILITIES r 1 U rf Policy 3 1 wd auti 20 11 1 1 i iu hi lV I II UNItt on 7 1 IJ ril toi w I I S If vis fil ii I I II 11 U I 7 1070 DISBURSEMENTS 1908 I u lu I ii loky I 2131 l It ii ug ua lJJ UJ 01 I II tu I hitis I J J 50 1 J t iii II I j j 72 lux ud hept eI I 1 I c I Ii hI It 1 liui ii S E 1 11 t III I i HI Is II I i ll Poll I I I 1 |
