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pj&t six THE TkXtikiAU Ptitek AND THE HIGHLANDS MaCONIAN THURSDAY. FEBRUARY It, IK "771 HE report of the National Emergency Council says, "The paradox of the South is that while it is blessed by na ture with immense wealth, its people ag a whole are the poorest in the country!" Without attempting to analyze the extent of the condition pointed out in the Coun cil's report, we should ask ourselves this question: Was this situation brought about because the South for many years has not been sowing its seed in its own fields? , Southerners send millions of dollars to other sections of the country for prod ucts and merchandise that could b produced at home. Every year Southern ers send away from home $310,000,000 in life insurance premiums. . .and additional millions in interest on money borrowed. If a greater portion of the money spent by the people of the South for farm products, merchandise and life insurance were kept at home, think how much it would help citizens ol the South by creating more and greater home pay rolls more local Jobs greater wealth and prosperity. We do not advocate buying exclusively from Southern companies. Other companies serve the South well and deserve their share. But, no matter what we buy, shouldn't we who live in the South always ask ourselves: ''Wouldn't it be better to sow our seed in our own fields?'' If you are interested in the Souths future read the inspiring booklet "A Pattern for Southern Progress," recently written by President Julian Price. Now in its fourth printing, a copy of this booklet may be secured from any Jefferson Standard Agent, or by writing to the Home Office in Greensboro. OUTSTirjDirJG FACTS FROM THE 1938 REPORT OF PRESIDENT PRICE Every thirty days in last year we returned an average of a half mil- lion; dollars in policy benefits to our policyholders and beneficiaries. $105,000,000 paid in policy bene fits since organization in 1907. Assets Increased $6,714,378 last year, the total amount now standing at $80,008,972. The surplus fund for additional protection of policyholders was in creased to $5,600,000. In 1935, 1936, and 1937, the Jeffer son Standard led all major life insur ance companies In the United States with its record of net interest earned on invested assets. The record for 1938 was 5.1. In 1938, AS IN EVERY YEAR SINCE organization in 1907, we paid 5 interest on funds held in trust for policyholders and beneficiaries a record unequalled by any other life insurance company in the United States. Life insurance sales in 1938 amounted to over $46,000,000. One hundred and sixty thousarid policyholders own Jefferson Stand ard life insurance amounting to more than $385,000,000, a new high mark for the Company. Ep- ' 1 1 m iii JEFFE180M LIFE INSURANCE COMPANY December 31, 1938 ASSETS Cash .......$ 1,333,550 Bonds: United States Government..... 297.320 State, County and Municipal... 4,130,175 Other Bonds and Stocks ........ . . 8,544,929 Bonds carried on amortized basis. Listed securities at market values as of December . 31, 1938. First Mortgage Loans 40.030.858 On farm v property $5,351,193. on city, property $34,679,465. .'. Real Estate ..................... 4,445,836 This includes our seventeen-story Home Office Building. ' Ioans to Our Policyholders. . .... 13,585,495 Fully secured by the cash values of policies. Premium Loans and Liens 4,265,063 Fully secured by the cash values of policies. Investment Income in Course of Collection 839,746 ' Premiums in Course of Collection 2,381,649 All1 Other Assets . . 174,558 Total Apmitted Assets. . . . , . .$80,008,972 LIABILITIES Policy Reserves. .$67,517,733 This amount represents the reserve required by law to assure prompt payment of policy obligations. Reserve for Policy Claims. ...... 416,223 Claimsxih course of settlement on which proofs have not been received. Reserve for Taxes. 317,265 Premiums and Interest Paid in Advance...... 736,528 Policy Proceeds Left with Company: , . . . . T . . . 4,345.578 Dividends for Policyholders. . . . . . 763,095 Reserve for All Other LiABiLmss. 312,550 Medical and inspection fees, and bills not ' yet presented. " Liabilities .$74,408,972 Contingency Reserve. . $1,100,000 ' 'A fund to take care of con tingencies, depreciation, on real I estate and , Investment fluctua. tlons. f ' : Capital 2,000,000 Surplus Unassigned. . . 2,500.000 Total Surplus Funds for Addi tional Protection of Policy holders $ 5,6007000 Total ....................... $80,008,972 Jfck 0tkt. Kw o iimiwvn fflaiwu'fii 0 IF The next time you buy life Insurance see a Telferson Standard agent. He repre sents one of the strongest and safest lit Insurance HZrrZT ' - j companies la the United ED J. CARPENTER ix Special Representative Franklin, N. C. L ml States, IT
The Franklin Press and the Highlands Maconian (Franklin, N.C.)
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Feb. 16, 1939, edition 1
6
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