BIG INCREASE SHOWN
IN 1941 BY JEFFERSON
STANDARD LIFE INS. CO.
- 7
Greensboro, N. C., February 26,
1942—Re-election of all officers,
declaration of a dividend of 40
cents per share, the attendance of
every member of the board of di
rectors, all of whom were re-elect
ed, and the report of President Ju
lian Price featured the annual
meeting here recently of the Jef
ferson Standard Life Insurance
company.
Other officers and department
heads made reports, but that of
President Price high spotted the
meeting, showing as it did that the
company had enjoyed one of the
moat remarkable years in its his
tory. W. A. Blair, of Winston
Salem, presided over the meeting
of the stockholders, and they re
seated the directors, who, in turr
returned the same slate of officers,
with the sole exception being the
elevation of Dr. Dawson.
President Price, in submitting
his report, touched briefly- on the
national situation, declaring that
the country’s defense program had
been responsible for less unem
ployment and that unprecedented
industrial activity had caused the
Julian Price, President
Jefferson Standard Life Ins. Co.
national income to go above 95
billions.
ASSETS ARE GREATER
The company’s asset increased
during 1941 by $10,000,000 and now
total about $105,000,000. During the
year, the company placed about
$15,000,000 in first mortgages, the
largest amount in any previous
year of the company’s history, and
made a net increase of $7,000,000 ;n
first mortgages. In addition there
was an increase of over $5 000,000
in bonds. The foreclosed real es
tate holdings of the company de
oreased from a peak of about $5,
000,000 in the depression years of
1932 and 1933 to less than $l,00n n-T
and ample reserve, President Price
reported, has been set aside to take
care of any losses in these proper
ties.
The Jefferson Standard Life In
surance Company is represented
locally by D. L. Traynham, special
agent for the company, who is also
manager of the Citizens Realty A
Insurance Agency.
Local Girl Is
Honored At Duke
Miss Sara Crawford Towe,
daughter of Mr. and Mrs. R. L*.
Towe of 511 Roanoke Avenue, was
one of seventy-seven North Caro
lina students who made the Dean’s
List for the spring semester at
Duke University. In order to at
tain this honor a student must
make at least "B” on all her sub
jects.
Miss Towe, who is majoring in.
Education, will be initiated into
Phi Beta Kappa on April 6th. To
attain this honor a student must
make an “A” average consistently
during her college career.
35* ^ I f -
f——ANNUAL REPORT5SSmEs»TOl
I FINANCIAL STATEMENT • DECEMBER 31, 1941 |
ASSETS
Cash...._..-S 1.918,856
United States Government
and Municipal Bonds- 6,059,318
All Other Bonds- 8,705,684
Stocks.... 5,652.598
Listed securities carried at mar
ket. cost or call value, which
ever is lower.
First Mortgage Loans- 57,182431
On farm property S7,420.888 on
city property 849,761.543.
Real Estate_ 3,857.018
This includes our seven teen
story Home Office Building.
Loans to Our Policyholders.. 13452,529
Fully secured by the cash values
of policies.
Premium Loans and Liens.. 3,458409
Fully secured by the cash values
' oi policies.
Investment Income in Course
of Collection....— 1,022490
Premiums in Course of
Collection._:- 2,778,018
All Other Assets.. 277,336
] , i .6 ■
Total Admitted Assets_$ 104,764,885
LIABILITIES
Policy Reserves...$ 86,038,312
This amount represents the re
serve required by law to as- 1
sure prompt payment of poli
cy obligations.
Reserve for Policy Claims._ 363,983
Claims in course of settlement
on which proofs have not
been received.
Reserve for Taxes.. 578,633
Premiums and Interest Paid
in Advance.—.-.. 944,184
Policy Proceeds Left with
Company..._ 7,011,864
Dividends for Policyholders- 949,681
Reserve for All Other !
Liabilities_ 478,228
Liabilities..-..$ 96,364,885
Contingency Re
serve.-S 1,400,000
A fund to take rare of contingen
cies, depreciation on real estate !
and investment fluctuations.
Capital -. 4,000,000
Surplus Un
assigned.. 3,000,000
Total Surplus Funds for ad
ditional Protection of Pol
icyholders_$ 8,400,000 I
Total_____$ 104,764,885 I
_ Strong Facts From
a Fine Record
mmmmm
Coast to Coast Territory Served by
Trained Agents
The Jefferson Standard Life Insurance Company operates in 26 States, the
District of Columbia, and Puerto Rico, through a chain of agency offices ex
tending from the Atlantic t6 the Pacific It has representation in more than
450 cities.
All Jefferson Standard agents are trained life underwriters—each well-equip
ped to give you wise counsel and up-to-date information that will be help
ful in planning your life insurance program.
Local Service
The Jefferson Standard is represented locally. We extend to you the service of
our Company with the full knowledge, based on 35 years of sound and pro
gressive experience, that you will be completely satisfied as one of our policy
holders.
Citizens Realty & Insurance Agency
D. L. TRAYNHAM, Manager
1102 Roanoke Ave. Dial R-424-1 Roanoke Rapidh, N. G
iiilfl! ^111
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