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The Mutual Life Insurance Company of New York, New York
(Atlantic Mo., No: Richard A. McCurdy, Pres. Gentlemen : - 1 uld like to (free) information regarding the cost of investment policies for amoasi . My occupation is..
THE AMERICAN PILLAR OF HERCULES.
WHEN the Greek ginning of the New York Herald by
idle play with words to make a basement dle Ages had to
had to office the real foundation of the Prudengive way to light.
tial. It was something much deeper For ideas with life
down than that, — nothing else than the in them have
bed-rock American principle of demospread light from
cracy. The Prudential applied the dem
ocratic principle to life insurance. As the stone age until
Senator Dryden, of New Jersey, the now, in every cen
founder of the company, has said, “ Life tury where they
insurance is of the most value when most have been wisely
widely distributed. The Prudential and brought. The
the companies like it are cultivating spread of thrift
broadly and soundly among the masses and saving in
the idea of life insurance protection. To America in con
them is being carried the gospel of selfnection with insurance is a striking illus
help, protection, and a higher life.” tration in point. A little over a quarter of a century ago a young New Englander introduced from England the idea of life insurance for the masses of the people. For a number of years that idea had been growing in Great Britain, and it had gained a broad foothold at the time it was transplanted in this country. And when brought here it was so fully adjusted to American conditions by the Prudential that it grew from the beginning, like a native. That record of growth is an amazing story of human achievement, but it is the old story — always absorbingly interesting — of the abounding power of an idea with life in it.
Ten years after the close of the civil war — a period so recent that its history has scarcely been written — the Prudential was established in Newark. As if foreknowing the great rock to which it would grow, it began its foundation in a basement office. It was like the be
President of the Prudential.
And what has been the result of the come grew from something more than democratic American principle worked $9,000,000 a year to more than $39,out in life insurance ? In 1875 the first 000,000 last year is amazing as a general policy was written in the Prudential. At
statement, but when made in relation to
the broad principles on which that growth has been based, it becomes as much a matter of course as the corn crop. There is no mystery about it; but there is in it, from the day when the principles were planted in Newark until these great harvest
days, the genuine American O
spirit of achievement, strong, hopeful and expansive.
The Prudential Insurance Company of America is a national institution. It was founded to provide insurance for the American people on the broadest possible basis consistent with strength and safety. Just as Grant and Lee organized their armies, or as Kouropatkin and Yamagata plan their campaigns
in Asia, so does the Prudential A STAIRWAY IN THE HOME OFFICE BUILDINGS work out its national insurance
propaganda. The company's organizathe end of 1903 there were 5,447,307 tion is essentially military. It is a wonpolicies in force on the books of the derful combination of big grasp and outcompany, representing nearly a billion look with the most painstaking thoroughdollars. The assets in 1876 were $2232, ness and system in details. And, as while twenty-seven years later, in 1903, is always the case in every organizathey were more than 30,000 times tion that throbs throughout with intelligreater, or $72,712,435.44, the lia
gent energy, there is a man at the centre bilities at the same time being $62,578, of it. This man has a constructive im410.81. This is a record of growth agination lighting up a New England that is without precedent in insurance brain. To business prudence there is and that is hard to match in the whole added the large vision which sweeps the range of industry. The rise of the
The rise of the horizon for opportunity. Naturally, to Prudential to greatness reads like a ro such a vision the application of the mance in big figures, but, in fact, it is a democratic idea to insurance was an oprecord of business expansion that has portunity of the first magnitude. When been as natural as the growth of an oak. seen, it was grasped and developed. The corn crop of the country seems too The Prudential was founded. In the big for comprehension until one sees the most careful way, its idea was tested, vast fields of the Middle West, and then just as the Secretary of Agriculture it appears as simple as the growth of a tests seeds at the Government's experisingle stalk. So with the Prudential. To ment farms.
Here was where prudence say that, in ten years, the company's in- kept the large vision in proper focus.
Gradually the idea took root and grew. idea known in every section of the counYear after year the Prudential added try. Gibraltar was chosen as the symbol to its number of policy-holders. And of the company's strength, and advertisall the time the company was working ing — the telling of the Prudential idea out a more liberal basis for its demo to the people — was begun. cratic idea. But each time a more
The Prudential publicity is accompaliberal policy was offered, it was fully nied by wise promotion from a field force tested. “Progress with strength is of over 12,000, some of whom have been the way President Dryden describes the with the company for over a quarter cencompany's principle of growth — the tury, working in almost every State of the results, clearly, of vision and prudence. Union. They have the zeal of Crusaders,
At the end of ten years of this method and it is kept at ardent pitch through an
of growth, the company reached the organization that could not fail to propoint where, it was believed, insurance
duce a wonderful esprit de corps. Wise could be safely offered for any amount
direction and constant encouragement with premiums payable on any plan,
come from the home office, and then the either in weekly installments or at longer periods. Within the five years, company's agents are grouped in districts
, 1886 to 1890 inclusive, the company's under superintendents and assistant suassets increased nearly five-fold, from perintendents, managers, general agents $1,040,816 to $5,084,895, and 'the and special agents, and in each district amount of insurance in force from
a strong spirit of emulation is devel$40,266,445 to $139,163,654.
oped by human contact and coopera
tión. Weekly meetings are held, and the problems of wisely presenting insurance are discussed.
records of the men are kept THE
in many districts, and prizes PRUDENTIAL
are offered for those writing
the largest volume of business, STRENGTH OF
for those making the greatest
individual increase, and for GIBRALTAR
many other contests. This wholesome rivalry produces an alertness and industry which are to the company an invaluable asset in human efficiency. A few weeks after this maga
zine appears, probably 2000
agents of the Prudential — those who The Prudential had found itself. The
have made the best records for the
year idea of democratic insurance had been
-will be brought to Newark from all fully tested and adjusted to the needs and conditions of the American people. parts of the country. They will, of course, Then, with a boldness which only large visit the home offices and come in convision could have quickened, the plan tact with the directing centre of their was formed to make the Prudential's wonderful organization.