May 10, 1940
DETROIT JEWISH CHRONICLE and the Legal Chronicle
20
FARBAND
lis, who is in Detroit arranging
for the convention, and whose
headquarters are at Hotel Statler,
or William Hordes, secretary of
the convention committee, 605
The campaign for new mem- Fox Theater Bldg. Joseph Hag-
bers in the Farband is being car- gai is chairman of the convention
ried on here by the six Detroit committee.
branches. Approximately 200 new
Information regarding member-
members have already been en-
rolled towards the goal of 500. ship in the Farband and the or-
Applications for membership may ganization's platform will be
be made by communicating with found in an advertisement ap-
the national field worker, II. Yel- pearing elsewhere in this issue.
gal, national secretary of the
Farband; Dr. Haym Greenberg,
brilliant writer and lecturer, and
others.
(Continued from Page 1)
rention usher in a happier and
brighter era for our suffering
people everywhere."
Pinski to Speak
Among the guest speakers who
will address the sessions in De-
troit will be David Pinski, emi-
nent poet and playwright, na-
tional president, and Louis Se-
Strawberry Festival of He- ip Shapiro have charge of 3; the .
arrangements.
o n
brew Ladies' Aid Society
The annual strawberry festival
of the Hebrew Ladies' Aid Soci-
ety will be held on Tuesday eve-
ning, May 14, at the Dexter-
Lawrence Hall. A nominal ad-
mission charge will include games
to be followed by refreshments.
Mesdames Manuel Engel, David
Muller, Ethel Goodman and Phil-
xvigto conflicting dates, it
has been found necessary to
change the date of the annual
picnic to Sunday, t
June
will be held at Riverside 1
Mrs. Helen Rosenthal is e hair-
m arrnheo
of organization1 acknowledg es
a donation from Mrs. Irving A.
Licken who is convalescing f rom
a recent illness.
What Every Metropolitan Policyholder
Should Know about his Company
Metropolitan presents its Business Report for the year ending December 31, 1939. (In accordance with
the Annual Statement filed with the New York State Insurance Department.)
ASSETS WHICH ASSURE FULFILLMENT OF OBLIGATIONS
National Government Securities
U. S. Government
Canadian Government
$948,082,869.84
67,856,044.76
Other Bonds
U. S. State & Municipal
110,055,727.87
103,823,959.75
573,665,903.43
689,740,113.65
405,093,316.15
Canadian Provincial & Municipal
Railroad
Public Utilities
Industrial & Miscellaneous
All but $22,561.13 are Preferred or Guaranteed
$4,493,333,205.00
Policy Reserves required by law
Amount which, with interest and future premiums, will assure
payment of policy claims.
1,882,379,020.85
112,999,638.00
Dividends to Policyholders
Set aside for payment during the year 1940.
112,986,146.83
22,931,579.79
Reserve for Future Payments on Supplementary Contracts
Held for Claims
Including claims awaiting completion of proof and estimated
amount of unreported claims.
86,624,833.01
Stocks
42,377,943.67
Other Policy Obligations
Mortgage Loans on Real Estate
76,890,988.22
876,767,661.85
Farms
Other property
OBLIGATIONS TO POLICYHOLDERS, BENEFICIARIES, AND OTHERS
$1,015,938,914.60
953,658,650.07
Including reserves for Accident and Health Insurance, divi-
dends left with Company, premiums paid in advance, etc
Real Estate Owned
Includes real estate for Company use, and housing projects
Liabilities not included above, such as taxes due or accrued,
special reserves, etc.
Surplus
87,666,343.58
60,340,337.46
Premiums Outstanding and Deferred
Interest Due and Accrued, etc.
This serves as a margin of safety, a cushion against contin-
gencies which cannot be foreseen.
$5,141,986,181.09
TOTAL
$5,141,986,181.09
TOTAL
$4,832,268,614.29
309,717,566.80
TOTAL OBLIGATIONS
132 667 027 52
Cash
47,140,101.00
Miscellaneous Liabilities
515 495 459 26
407 215 594 74
Loans on Policies
NOTE Assets carried at $221,390,536.99 in the above statement are deposited with various public officials under requirements
—
of law or regulatory authority. Canadian business embraced in this statement is reported on basis of par of exchange.
TEN YEARS OF PROGRESS
Highlights of Metropolitan's growth and stability over the past decade
Insurance in Force
Life Insurance
1929 .. $17,933,000,000
1939 .. $23,193,000,000
Accident& Health Insurance
Weekly Indemnity
1929
1929 .
1939.
1939
$13,928,000
$19,894,000
Policy Reserves
1929 . . . $2,659,000,000
1939 . . . $4,493,000,000
1929
Funds held, as required by
law, to assure payments to
policyholders.
1939
Payments
After fulfilling all its contractual obligations (including payment of over
$4,260,000,000 to policyholders and beneficiaries) over the 10-year period
of adverse economic conditions from 1929 through 1939, Metropolitan
1.... added to its contingency reserve, or
surplus, as an extra safety factor, more than
Si 32,000,000
2.... strengthened the basis of its policy
reserves to the extent of
45,000,000
3.... made expenditures to improve prop-
erties acquired through foreclosure, without
increasing their valuation
25,000,000
4.... reduced the valuation of securities
and real estate as carried on its books, by
more than
216,000,000
5.... expended on health and welfare work
for policyholders more than
58 000,000
S 476,000,000
6. YET, over this same 10-year period, and
1929 . . . . $335,000,000
1939 . . . . $604,000,000
Funds paid or credited to
policyholders and their ben-
eficiaries.
1929
in addition to the above, Metropolitan also
paid or credited to its policyholders almost
one billion dollars in dividends
992,000,000
TOTAL
$1,468,000,000
1939
Metropolitan Life Insurance Company
(A
FREDERICK H. ECKER,
MUTUAL COMPANY)
Chairman of the Board ,
LEROY A. LINCOLN,
President
1 Madison Avenue, New York, N. Y.
DIRECTORS
FREDERICK H. ECKER, New York, N. Y.
Chairman of the Board
Metropolitan Life Insurance Company
JOHN ANDERSON, New York, N. Y.
Chairman. Executive Committee
Charles Pfizer & Co., Inc.
MITCHELL D. FOLLANSBEE, Chicago.
Member, Follansbee, Shorey and Schupp
Attorneys at Law
•
JOSEPH P. DAY, New York, N. Y.
President, Joseph P. Day, Inc., Real Estate
LANGDON P. MARVIN, New York, N. Y.
Member, Emmet, Marvin and Martin
Attorneys at Law
WILLIAM L. DE BOST, New York, N. Y.
President, Union Dime Savings Bank
JEREMIAH MILBANK New York, N. Y.
Milbank t Co.
D'ALTON CORRY COLEMAN
Montreal, Canada, Senior Vice-President,
Canadian Pacific Railway
NEWCOMB CARLTON. New York, N. Y.
Chairman of the Board
Western Union Telegraph Company
LEROY A. LINCOLN, New York, N. Y.
President, Metropolitan Life
Insurance Company
HARRY W. CROFT, Greenwich, Coon.
Former Chairman
Harbison-Walker Refractories Company
THOMAS H. BECK, New York. N. Y.
President, The Crowell-Collier Publishing
Company
WALTER EWING HOPE, New York, N. Y.
Member, Milbank, Tweed and Hope
Attorneys at Law
SAMUEL W. FORDYCE, St. Louis, Mo.
Member, Fordyce, White, Mayne, Williams
and Hartman, Attorneys at Law
GEORGE McANENY, New York, N. Y.
Chairman of the Board
Title Guarantee and Trust Company
ROBERT V. FLEMING, Washington, D. C.
President and Chairman of the Board
Riggs National Bank
FREDERIC W. ECKER, New York, N. Y.
Vice-President
Metropolitan Life Insurance Company
/
i
1
WINTHROP W. ALDRICH, New York,
Chairman of the Board
Chase National Bank of New York
N.Y.
EDWARD R. STETTINIUS, Jr., IT. Y. C.
Chairman of the Board
United States Steel Corporation
WILLIAM W. CROCKER, San Francisco, Cal.
President
Crocker First National Bank
AMORY HOUGHTON, Corning, N. Y.
President, Corning Glass Works
LOUIS S. ST. LAURENT, Quebec, Canada
Member, St. Laurent, Gagne. Devlin ta
Taschereau. Attorneys at Law
ERNEST E. NORRIS. Washington, D. C.
President, Southern Railway System