. |
Report To Stockholders
Shows Life Insurance Co.
In Excellent Condition
Jefferson in Beet Financial
Condition in History; All
Officers Reelected
ASSETS ARE IN SOUTH
Assets totaling more than SBO,-
000.000. new life insurance sales
of more than $46,000,000 last
year, a substantial Increase in
contingency reserve fund, and the
lowest lapse ratio in the history
of the Company, were reported to
stockholders of Jefferson Stand
ard Life Insurance Company by
Julian Price, president, at the re
cent annual stockholders meet
ing.
"The financial position of the
Company at the end of 1938
places the Jefferson Standard
life Insurance Company in the
best condition in its history," Mr.
Price told stockholders in annual
session.
Col. William A. Blair, of Win
ston-Salem, a member of the
board of directors, acted as
chairman of the stockholders'
meeting, which was largely at
tended. All directors- of the in
stitution were re-elected by stock
holders. All officers of the com
pany were re-elected by directors
in session following the stock
holders meeting.
The directors approved the rec
ommendation made by the man
agement that a 5 per cent, bonus
be paid the employees. The board
declared the regular dividend of
50 cents a share, and took occa
sion to recognize this year as be
ing the 20th anniversary of Mr.
Price as president of the com
pany. _
Report given by President Price
and various company officials in
dicate the Jefferson Standard to
be one of the largest financial
institutions in the Souh as evi
denced by $80,000,000 in assets.
"The success of Jefferson Stan
dard," stated President Price,
"may well be taken as an ex
ample of what the people of the
South can do. It Is 100 per cent,
southern enterprise. More than
98 per cent, of Jefferson Stand
ard stock is, today, in the hands
of southern men and women. Ap
proximately 80 per cent, of our
insurance in force covers south
ern policyholders. At present 88
per cent, of our mortgages are on
southern property, 96 per cent, of
stocks and bonds holdings are se
curities relating to public and
private enterprises In the South.
"The Jefferson Standard has
more than $1,000,000 deposited In
southern banks.
"In all more than 90 per cent,
of the company's assets are In
vested In the South. The record
of our company shows that this
faith In the South Is well found
ed."
President Price showed in his
annual report that during 1938
the company's assets gained $6,-
814,000, which is an average in
crease of $567,000 every 30 days
in the year.
He reported the contingency re
serve fund, capital and surplus,
increased to $5,600,000'. This is a
fund maintained in addition to
the regular reserves required by
law as additional protection to
policyholders. "Payments to pol
icyholders and beneficiaries dur
ing the year amounted to $6,000,-
000," he reported, "bringing the
total amount paid to policyhold
ers and beneficiaries since organ
ization 32 years ago to $105,000.-
000.
"With the sale of new insur-
AAA SALVE
DUO COLDS
Lfenid. Tablets
10c & 25c
NOTICE
We will have a northern
chicken buyer with us this
spring and will be in better
shape to handle your chick
ens. We pay cash at the
door. See or call U3 before
selling.
PHONE 3§B
BRENDUS
PHODUCE CO.
EMtin, N. C.
Makes Report
■ W v j|
Julian Price, president of the
Jefferson Standard Life Insur
ance Company, of Greensboro,
reported to stockholders a t
their recent meeting that the
financial condition of the com
pany is the best in its history.
ance in the amount of $46,000,000
last year, the company's total
amount of Insurance now in force
totals $385,000,000, which is the
highest mark in the history of
the company. This amount is
held by 160,000 policyholders."
Report by Mr. Price
In addition to the lowest lapse
ratio in the history of the com
pany, Mr. Price reported an ex
cellent condition in interest earn
ed and interest paid.
"The record net interest earn
ed on invested assets in 1938." he
said, "amounted to 5.1 per cent.
For the three years prior to 1938
the Jefferson Standard led all
major insurance companies in the
United States with its record of
net interest earnings.
"On funds held in trust by the
company for policyholders and
beneficiaries, the company has
paid 5 per cent, interest, a rate
that has been paid continuously
since organization in 1907. The
Jefferson Standard is the only
company in the country that has
such a record of interest pay
ment." '
A mortality rate lower than for
any year since 1926 was reported,
the actual mortality being 49 per
cent, of expected mortality.
Members of the board of direc
tors re-elected include Selby An
derson; Col. W. A. Blair, of Win
ston-Salem; W. L. Brooks, of
Charlotte; Joseph M. Bryan, of
Greensboro; Shepard Bryan, of
Atlanta. Ga.; Charles W. Causey,
of Greensboro; W. G. Clark, Sr.,
of Tarboro; Julius W. Cone. Em
ery C. Green, Howard Holderness
and C. Elmer Leak, of Greens
boro; A. G. Myers, of Gastonia;
Julian Price, Ralph C. Price,
Pierce C. Rucker and Julius C.
Smith, of Greensboro.
The directors reappointed the
executive committee, composed of
Julian Price, president; C. Elmer
Leak and Ralph C. Price, vice
presidents; and Julius C. Smith,
vice president and general coun
sel.
BRANON
Rev. Mrs. I. T. Cox filled her
regular appointment at Branon
Friends church this week-end.
The mixed quartet of Branon
sang at Winston-Salem Friends
church the past week-end.
Miss Zelma Steelman spent two
weeks with Mr. and Mrs. Alan
Steelman. of Neva. Term.
Miss Mabel Smith, of Winston-
Salem. is spending a few days
with her parents, Mr. and Mrs.
E. E. Smith.
Mr. and Mrs. Alan Steelman,
of Neva, Tenn., are visiting Mr.
and Mrs. Marshall Steelman.
Miss Opal Cook spent last week
with Miss Louise Wilklns, of
Cycle.
Miss Doris Ruth Smith spent
part of last week with her sister,
Miss Mable Smith, of Winston-
Salem.
Miss Zelma Steelman spent the
week-end In Winston-Salem with
friends.
Mr. and Mrs. Claude Branon
and family spent the week-end
with Mr. and Mrs. A. S. Branon,
of Winston-Salem.
Miss Martha Vestal, of Spray,
visited Mr. and Mrs. F. M.
Swisher and family last week.
Mr. and Mrs. Carl Adams, of
Hamptonville, spent Saturday
night with Mr. Francis Swisher.
Mr. Bill Spainhour, of Win
ston-Salem, was the Sunday
guest of Mr. John Wood.
Mrs. Martha E. Branon and
Miss Rachel Howby, of Charlotte,
spent Sunday with Mr. and Mrs.
C. W. Helton.
Miss Lucille Steelman, who has
been working at Yadkinville, has
returned homo for a visit.
Mrs. Qrady Wagoner and chil-
THE BLKTN TRIBUNE, ELKIN, NORTH CAROLINA
dren, Harold and Patty, lof
Brooks Cross Roads, spent Bun
day afternoon with her parents,!
Mr. and Mrs. Charlie Helton.
Mr. Dick Cumming has return
ed home after spending several
days with friends at Honda and
Independence, Va. ,
The "All Star" basketball team
of West Yadkin will play the
"Red Elks" of Elkin Thursday
night, February 16, at the West
Yadkin gymnasium, at 7:30.
Several cases of measles are
noted throughout the community.
We wish them a speedy recovery.
ffi; €»lvl'i J iTffl
f Annual Statement
*"■' JEFFERSON STANDARD
LIFE INSURANCE COMPANY
—j ; December 31, 1938
—*WiHE report of the National Emergency ASSETS
Council says, "The paradox of the Cash $ 1.333.550
- ~ r~~ =j* South is that while it is blessed by na- BONDS:
"?A». >=/ ture with immense wealth, its people as United States Government 297,320
—*y\ a whole are the poorest in the country!" State, County and Municipal... 4,130,175
" Without attempting to analyze the extent OTHER BONDS AND STOCKS 8,544,929
' of the condition pointed out in the Coun- Bonds carried on amortized basis. Listed
.) securities at market values as of December
oil's report, we should ask ourselves this 31, 1938.
question: Was this situation brought about because the South for many years FIRST MORTGAGE LOANS 40,030,658
has not been sowing its seed in its own fields?
Southerners send millions of dollars to other sections of the country for prod- REAL ESTATE 4,445,836
uctm and merchandise that could be produced at home. Every year Southern- StoSlV"' seven,een a, °nr Home
an send away from home $310,000,000 in life insurance premiums.. .and LOANS TO OUR POLICYHOLDERS 13.565.495
additional millions in interest on money borrowed. If a greater portion of the Fully secured by the cash values of policies,
money spent by the people of the South for farm products, merchandise and PREMIUM LOANS AND LIENS 4,265,065
LIFE INSURANCE were kept at home, think how much it would help citizens ol F ully secur ? d by tno values of policies.
_ , , , „ II.V INVESTMENT INCOME IN COURSE or
the South by creating more and greater home pay rolls—more local Jobs— COLLECTION 839 74S
greater wealth and prosperity. PREMIUMS IN COURSE OF COLLECTION 2.381.640
We do not advocate buying exclusively from Southern companies. Other ALL OTHER ASSETS 174.558
companies serve the South well and deserve their share. But, no matter
what wo buy. shouldn't we who live in the South always ask ourselves: TOTAL ADMITTED ASSETS $80,008,972
"Wouldn't it be better to sow our seed in our own fields?"
If you are interested in the South's future read the inspiring booklet "A Pattern LIABILITIES
for Southern Progress." recently written by President Julian Price. Now in its POLICY RESERVES $67,517,733
fourth printing, a copy of booklet may be secured from any Jefferson This amount represents the reserve required
_ . , ... . „ , by law to assure prompt payment of policy
Standard Agent or by writing to the Home Office in Greensboro. obligations.
RESERVE FOR POLICY CLAIMS 416,223
•» Claims in course of settlement on which
OUTSTANDING FACTS FROM THE 317J65
1938 REPORT OF PRESIDENT PRICE PREMIUMS AND INTEREST PAID IN
ADVANCE 736,528
• Every THIRTY DAYS in last year we on invested assets. The record for POLICY PROCEEDS LEFT WITH
returned an average of a HALT mil- 1938 was 5.1%. COMPANY 4,345,578
lion dollars in policy benefits to our # 1938( AS W EVERY YEAH SIKCE DIVIDENDS FOR POLICYHOLDERS 763,095
policyholders and beneficiaries. ORGANIZATION IN 1907, we paid 5% RESERVE FOR ALL OTHER LIABILITIES . 312,550
• $105,000,000 paid in policy bene- interest on funds held in trust for ye^presen"^!"^ 901 ' 011 693 b ' 8 n °'
fits since organization in 1907. policyholders and beneficiaries—a ■ ■
• Assets increased $6,714,378 last record unequalled by any other life LIABILITIES $74,408,972
year, the total amount now standing insurance company in the United CONTINGENCY RESERVE. .$1,100,000
at £BO 008 972. States. A fund to take care of con
tingencies, depreciation on real
• The surplus fund for ADDITIONAL • Life Insurance sales in 1938 estate and investment fluctua-
PROTECTION of policyholders was In- amounted to over $46,000,000. , ,lons
, . « C N N NNN . . CAPITAL 2.000.000
creased to $5,600,000. . On.hmulr.d andshdY thou«nd SoVLUI UKASSIGXID. .. 2.500.000
" = ; f' t' own Jetoreon Sund TOTAL Soßptos FTMM ro» W
son Standard led all major life insur- ard life insurance amounting to more TIONAL PROTECTION or POLICY
ance companies in the United States than $385,000,000. a new high mark HOLDERS $ 5,600,000
with its record of net interest earned for the Company. _______
■ll !SI ißfiy Bw p tg ■ k 1* I k mHr m W Jf
f.fri l !p HS !!P 1 \ I The ntxt tima you buy Ule J •
Standard Ho Kpfo
an fait Hit lomrance ELKIN, N. C.
,tw —ia (ha United
SMAmm A
nuixuA
Mr. and Mrs. John Simpson, of
Roseboro, were the week-end
guests of Mrs. Simpson's par
ents. Mr. and Mrs. J. T. Mat his.
Rev. Mr. McKaughon, of Wln
ston-Salem, preached at the Bap
tist church Sunday morning and
evening. His messages were en
joyed by all.
Mrs. Mamie Mikle, of Haywood
county, returned to her home
Thursday 'after spending some
time with her sister, Mrs. R. Ik
Hickerson. Miss Laura Lenoir, |
Mrs. Mine* sister, accoroi»*u«3u
her home *o be her guest for
some time.
Mr. and Mrs. Clyde C. Dim
mette and children spent Sunday
with friends here.
Messrs. Henry Poplin and Sam
Byrd were the Sunday afternoon
guests of relatives here.
Mr. and Mrs. Grady Dimmette
and children, of North Wilkes
boro, were the week-end guests of
Mr. and Mrs. C. A. Dimmette.
Mr. Glenn Mastin, who under
went a minor operation at Hugh
Cnatham Memorial hospital Sat
urday, Is getting along nicely, his
friends will be glad to leam.
Mrs. Clyde Dimmette was a
business visitor in W tikes boro
Saturday.
Mr. and Mrs* D. J. White were
business visitors in El kin Monday
morning.
Patient (to his roommate about
to be discharged): "Have a good
time and take care of yourself."
Roommate: "Now make up
your mind, which do you want
me to do?"
Thursday, February 16, 1939 jj
Why Suffer From
•Sui£ww3S
Biliousntds and ConstipniioiUj
Try I
10c CtLAX 10C I
If not satisfied your dealer to
authorised to return your money.
Portly Vegetable
Get a 10c box today from dealer
or If your dealer can't supply yon
order direct from us sending
dealer's name and address.
C-LAX SALES CO.
Bm 241 Albemarle, N. C.