Newspapers / The Chowan Herald (Edenton, … / July 16, 1953, edition 1 / Page 15
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Ownership of Life I Insurance Rising Record Half-Year Pur- I chases Point to S3OO i Billion By Year-end H American families have purchased Hi record amount of new life insur- Hnce in the first half of this year, Bringing aggregate ownership of this Hrotection to very near the $290,000,- 800.000 mark and making almost cer- Bain a $300,000,000,000 total by the Bnd of the year, the Institute of Life Hnsurance says. H Life insurance purchases appear to Bave totaled $19,000,000,000 in the Hirst six months of 1953, one-fifth Hnore than the $15,500,000,000 in the Horresponding period of last year, Hhen a new record. This half year’s Burchases surpass any full year’s buy- Hng prior to 1946. They compare with ■bout $6,000,000,000 in the correspond- Rng months ten years ago. Hr Os the total bought this year, ordi- Bary insurance accounted for nearly Hwo-thirds, or an estimated $12,500,- 800,000, compared with $10,400,000,- 800 a year ago. Group life insurance ■(lowed the greatest percentage gain, Hhe $3,500,000,000 purchases in thel Hirst six months of this year compar-| Big with 2,300,000,000 a year ago. In-I Bustrial insurance, the small unit type, Blso increased to $3,000,000,000 this H The total life insurance in force at Bnid-year is estimated to be nearly ■25,000,000,000 greater than a year ■go and $13,000,000,000 more than was Bwned at the start of this year. The Bresent total is some $158,000,000,000 Hnore than the total in force ten years H Total funds going to all U. S. life Hnsurance companies as premiums for Hife insurance and annuities are esti- Biated at about $4,500,000,000 for the Hirst half of this year, an amount Brhich compares with somewhat over ■4,000,000,000 a year ago and less Hhan 2,000,000,000 in the first half Bf 1940. H Along with increased ownership of Bfe insurance, there has been a mount- Hng flow of payments to American Ramilies from their life insurance Hompanies. For the first half of 1953 Hotal benefit payments are estimated Ho be $2,250,000,000. In the corres- Bonding period of last year, they were 82,106,361,000 and ten-years ago, sl,- 8^,295,000. H Death benefit payments alone were Biore than $1,000,000,000 in the first Mix months this year, the first time Much payments have exceeded the bil- Hiojji mark in a half year. This com- Bares with $921,804,000 a year ago and ■560,798,000 ten years ago in the first Half of the year. That is a rise of Hiearly 80 per cent in the ten years. * * • 1 0 mj](<jjp§)g I / lyuvjLLALJjjyLly Nlm pickup models, Vi, Hi. and 1-<aa sixu, 6Vi, 8, and 9-foot bodlm, The nine new International pickup models are proved all 3 ways! Proved BEFORE they’re built. AFTER they’re built. And IN SERVICE. "Sou get proved power I The great S3* ver Diamond engine gives you peak per formance—at lowest cost. \ You get proved stamina ! Intemation Byrum Implement & Truck Company EDENTON, NORTH CAROLINA * .m i El !!! I INTERNATIONAL fl ' .Art* y Standard of the Highway The increase is entirely a reflection of the greater ownership of life insur ance, as the death rate among policy holders is very near the record low point again this year, materially be low the rate of ten years ago. Payments to living policyholders were $1,250,000,000, in the first six months, up $65,000,000 from a year ago and $587,000,000 from the first half of 1943. These “living” benefits of the first six months amounted to about as much as total benefits, of all types, in the first half of 1943. Total funds of the life insurance companies reached an estimated $75,- 500,000,000 at mid-year compared with $70,334,000,000 a year ago. The cur rent figure represents an increase of nearly $40,000,000,000 in the past ten years, all put to work as capital funds for the nation’s economy. Today’s as sets average SBSO per policyholder, compared with a $525 average ten years ago. 1954 Ham And Eg*g Show Plans Started One reason for the growing success of Johnston County’s Annual Ham and Egg Show and Sale may be that the Negro farmers and farm wives of the county begin thinking about next year’s event almost as soon as they are finished with the current one. L. R. Johnson of Smithfield, Negro I county agent for the Agricultural Ex- I tension Service, who has sparked the * successful events over the years, now says that discussions are going, on with groups of farmers and farm wives throughout the county in an ef fort to make next year’s Ham and Egg Show and Sale a “bigger and better-than-ever event.” Perhaps, says Johnson, this is one reason for the unusual success of the event —close cooperation on the part of a great many of the county’s Negro farm families. They are asked for help and suggestions and are made to feel that they have a real part in the program. Johnson is getting good attendance at his rural meetings by showing mo tion pictures of the recent event which brought one farmer $715 for a single ham and one housewife $33.50 for a dozen eggs. The prize ham and eggs were presented to President Eisenhow er. Johnson credits the annual event with the promotion of better swine and poultry practices throughout the coun ty. Other counties are now sponsor ing similar events. Residents of the White Oak com munity, most recent of the Johnston rural neighborhoods visited by the county agent, promised that they “would lea've no stone unturned in making the 1954 show the best ever held.” Give for the joy of giving and sing hymns of thankfulness that you have i it to give. —Herbert Hoover. THE CHOWAN HERALD, EPENTON, N. C., THURSDAY JULY 16, 1953. DOWN •• • DOWN • • DOWN IP i:o/ 41 3 JI 44 **! f M Wl PEARL HARBOR, T. H.-(FHTNC)—“Don’t hold your breath : . . •wallow to ‘crack’ your ears,” Is the last minute advice to students at the D. S. Submarine Base here. This pressure tank is used to train future submariners and under-water demolition teams In the use of the Momsen and aqua lungs. Tank is also used for the treatment of diver* suffering from the dreaded “bends” caused when they ripe toe qulcklyfrom the bottom. (Official U.B. Nary Photograph—soßooZ) Annuities Owned Are Double Those ; Os Ten Years Ago i Cover More Than 4 Mil ; lion —Provide $1.5 Bil- , lion Annual Income . ; ' Ownership of annuities in the Unit * ed States has more than doubled in ; ; the past ten years in one of the great ’ voluntary developments of planned 1 • retirement, according to the Institute ' ■ of Life Insurance. At the start of this year, total an ‘ nuities in force with U. S. life insur ance companies numbered 4,238,000. ! They provided future annual income of $1,528,000,000. j This was an increase of 309,000 in . ; number and $125,000,000 in annual in come, compared with the previous year. It was 2,362,000 and $833,000,- 000 greater than the corresponding amounts at the start of 1943. Group annuities, established for the most part by employee-employer group shave shown the greatest gains in this period. The number of group annuity certificates has more than tripled, now totaling 2,707,000. The annual income provided by them is now $801,000,000, compared with ; $179,000,000 at the start of 1943. Even . this dollar figure does not represent the full potential of such annuities, als with all-steel bodies are built for years of service. .H w : Y>u get proved comfort! Ride in the famous Comfo-Vision cab and see for yourself. . , r •>-. Get more pickup for your dollar. Con venient terms available. Let us show you the new Internationals 1 , for these are usually reported on the i basis of annual paid-up additions bought by premiums to date. Each 1 | worker’s retirement income will in crease with each premium payment. Individual annuities now number 1,- 279,000 and represent $605,000,000 of yearly income. Annuities set up by proceeds of life insurance policies un der supplementary agreements number 252,000 and account for $122,000,000 of income. Os the aggregate annuities, 825,000 or one-fifth of the total, are now pay ing annual income at the rate of $345,- 000,000; 2,662,000 are fully paid for, but call for income to begin at some future date, that income totaling $767,000,000 annually; and 751,000 are not yet fully paid for and provide income for the future of $416,000,000 annually. We anticipate a time when the love of truth shall have come up to our love of liberty, and men shall be cor dially tolerant and earnest believers both at once. —Phillips Brooks. SUMMER COLD ME —< Ct symptomatic ODD RELIEF 1h this c-s CEF;.,;;r,r,rc2 "- V )j -. Here’s the refrigerator bargain you’ve —ti I dreamed of! Completely new distinctive 1 (” —^l styling! Sturdy aluminum shelves! Full - ,<t width freezer! Extra-deep chiller tray! I q II f j get for the money! Hurry down to our HI showrooms and see this outstanding " " . rvT. . General Electric value today! FAMOUS G-E DEPENDABILITY! G-E sealed-in refrigerating system gives you years of dependable service! More M —^l— ■!—— I———l I Modal LA-76K-7.6 cu ft v^’.< , ‘ REFRIGERATOR 4K c, zWQ UINNfM: rurmture Co. lelectricl ' , EDENTON, NORTH CAROLINA ISBfjf . • Liquid Nitrogen Is Only Slightly Acid How acid are the new liquid nitro gen fertilizers and anhydrous am monia ? Not enough that farmers should shy away from using them, says a N. C. State College expert on the sub ject. Dr. E. R. Collins, who heads-Agron omy Extension work at the college, says when 80 pounds of nitrogen are put on an acre in the form of anhy drous ammonia or the new liquid fer tilizers, an additional 152 pounds of limestone is needed to offset the slightly acidifying effects of the fer tilizer. Eighty pounds of nitrogen is the amount of topdressing recom mended for an acre of corn. In a two year rotation of com and soybeans it would take an average of around 75 pounds extra limestone per year to maintain the acid level of an acre of soil if these forms of nitro gen are used. This would cost the farmer only about $3.50 every 10 years. Collins says nitrate of soda has no affect on soil acidity, but by using the liquid nitrogens and anhydrous ammonia instead of nitrate of soda, the farmer can save more than $7 per $2.30 gi $3-65 Pin JL I Glenraore | ■ KENTUCKY H STRAIGHT H ■ BOURBON pH U /]kentucky\ / STRAIGHT \ / BOURBON \ (GLENMORE SUNMORI DISTIIUBHS COMPANY ■ 10UISVIUE, KT. 16 PROOF SECTION TWO— acre annually on his cost of topdress- I ing, if he puts on 80 pounds of nitro gen per acre. Some farmers over the state have been warned against using these new er forms of nitrogen fertilizer because j they do have a slightly acidifying ef j feet on the soil. But Collins uses these cost figures to point out that they pay great returns in the long run. 1 r a AUTOMOBILE UOANG CAN* BE MADE ONLY FOC BUSINESS Purposes under the law. 1 lUEY CANNOT BE MADE FDR PLEASURE PURPOSES OR FOR TRANSPORTATION TO AND reoM woCK.sajooL.erc. Page Seven
The Chowan Herald (Edenton, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
July 16, 1953, edition 1
15
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