SEYMOUR DURST When you leave, please leave this book Because it has been said "Ever thing comes t' him who waits Except a loaned book." Avery Architectural and Fine Arts Library Gift of Seymour B. Durst Old York Library r Digitized by the Internet Archive in 2014 https://archive.org/details/metropolitanlifeOOmetr_0 ITS HISTORY, ITS PRESENT POSITION IN THE INSURANCE WORLD, ITS HOME OFFICE BUILDING AND ITS WORK CARRIED ON THEREIN NEW YORK The Metropolitan Life Insurance Company 1908 (![)fttrprs John R. HEGEMAN, President Haley Fiske, Vice-President GEORGE H. GASTON, Second Vice-President George B. Woodward, Third Vice-President Frank O. Avres, Fourth Vice-President James M. Craig, Actuary Frederick H. EckiJR, Treasurer Walter Stabler. Comptroller James S. Roberts, Secretary J. J. Thompson, Assistant Secretary T. R. Richardson, Assistant Secretary John R. HEGEMAN, Jr., Assistant Secretary F. V. Taylor, Assistant Secretary Frederick A. BETTS, Assistant Secretary Stewart E. Woodford, Counsel Thomas H. Willard, M.D., Medical Director Augustus S. Knight, M.D., Medical Director W. S. MANNERS, M.D., Asst. Medical Director E- M. HoLDEN, M.D., Asst. Medical Director T>. M. GedgE, M.D., Asst. Medical Director I. J. CahEN, Manager Ordinary Department Charles G. ReiTER, Assistant Actuary Jacob ChadEaynE, Mgr. Intermediate Branch [am US C. Brown, Assistant Actuary John R. Hegeman Silas B. Dutch er Thomas E. James Edward C. Wallace Joseph P. Knapp Haley EiskE Utrrrtnra George H. Gaston .Stewart L. Woodford Benjamin DeF. CurTiss Frank H. Major James M. Craig George B. Woodward John R. Hegeman, Jr. Thomas H. Hubbard John W. HollEnback William H. Crocker Henry Ollesheimer Morgan J. O'Brien flrrfarr N the year 1903 the Metropolitan Life Insurance Company passes the fortieth year of its history as a life company, and the same year will see practically finished its monumental Home Office building. It is appropriate to mark these two events with some account of the history of the company and its present position in the world of insurance, and with a full description, sufficiently illustrated to bring them before the eye of the interested reader, of the building — the largest business building in the world — of its various novel, beautiful and useful features and of the wonderful work carried on within its walls. We hope the book will be of interest to the field force, which has made the company what it is; to the policy-holders, who indeed arc the company in a very true sense, and to the tenants of the building and their visitors and friends. The building now houses 6,000 people, and a count made of those who entered its doors in one day — and that turned out to be a stormy one — footed up over 23,000; with the tower and the rest of the building completed, some 10,000 people will make their business home here — a goodly city. All who come under its ample roof are welcome, all who accept policies of insurance issued from it are members of our household, and all who read this book are invited to become part of our happy family. ulitau 3Gtft Jhtsimmrr (Cimtpang Gfompatuj ITS HISTORY. ITS PRESENT POSITION IN THE INSURANCE WORLD. ITS HOME OFFICE BUILDING AND ITS WORK CARRIED ON THEREIN Tiitfitnnral Bkttih ^rfN the year 1863 there was incorporated by the state of New York T I the National Life and Limb Insurance Company, the object of which ^— * was to insure, against death and casualty, the soldiers and sailors engaged in the Civil War. The name of this company was subsequently changed to the National Life and Travelers Insurance Company. In 1866 two new corporations were formed from it, namely, the National Life Insurance Company and the National Travelers Insurance Company; the life insurance business being transacted by the National Life, and the National Travelers devoting itself to the casualty business. The National Life Insurance Company passed into the hands of a receiver in the year 1873. The National Travelers Insurance Company, however, soon made application to the Legislature for permission to engage in the business of life insurance, and in 1868 its name was changed to "Metropolitan Life Insurance Company," as will be seen from the following, which appeared in the New York Insurance Report for the year 1868. *' The National Travelers Insurance Company, which was incorporated May 5, 1866, as a casualty insurance company, now appears as a pure and simple life insurance company, unembarrassed by any of the complications of an accident or casualty insurance business. This change was effected with the approval of the superintendent under and by virtue of a special act of the Legislature (see Chap. 29, Laws of 1868), and the company now starts almost de novo the Metropolitan Life Insurance Company. "The calendar year 1S67 shows only four new life insurance companies incorpo- rated during the year, one of which disappeared almost at birth, leaving three only as 5 against five new companies in 1866, and three already organized (including the Metro- politan) in the year 1868. The additional new companies already projected for 1868 will doubtless mark its calendar as incorporating the largest number of life insurance institutions of any year in our state history." We quote the last paragraph simply to indicate to the reader the mania that existed at that time for the incorporation of life insurance companies; and perhaps it will not be amiss to state that of all the com- panies to which the superintendent alluded as having been organized in the years 1866, 1867 and 1868, together with all those which were in process of organization and which subsequently organized in that year, the Metropolitan is the only surviving company. It need not be inferred from this that the pathway of the Metro- politan was strewn with roses, or that it did not have difficulties to meet and obstacles to surmount. The care and anxiety inseparable from the successful establishment of a new enterprise in the face of severe com- petition on the part of stronger rivals were not strangers to the officers of this company. In the year 1869 and for many years thereafter the company, through another organization, did a large business on the weekly premium plan, in addition to that secured on annual, semi-annual and quarterly bases. Its record of policies issued and in force each year is contained in the following table (up to and including 1879, but excluding the Industrial business issued in the last six weeks of that year, which was the time of its Industrial beginning). J Death Claims ISSUED IN FORCE DECEMBER 31st and Matured YEAR j Endowments Number Amount Number Amount Amount 1867 403 $9 79,404 346 *>809,400 S 0 1868 1,447 4,340,900 1,433 4,077,400 5,000 1869 2,930 4,856,839 3,560 6,878,139 20,500 1870 9,1 13 1 1,078,199 9,331 13,335,108 56,770 1871 7,602 8,312,930 1 1,299 14,989,582 87,500 1872 8,642 1 1,556,663 15,345 20,546,341 165,000 1873 12,242 11,753,399 18,698 26,383,865 197,565 1874 8,280 1 1,870,435 18,972 27,385 145 238,070 1875 4,830 6,836,446 17,441 25,107,087 288,556 1876 4,1 16 5,217,032 17,508 24,223,764 235,771 1877 2,405 2,391,442 1 1 ,950 16,536,814 215,553 1878 984 1,1 75,521 10,016 13,903,156 267,984 1879 510 537,181 7,680 1 1,150,349 217,500 6 A glance at the figures for the last few years in this table shows a rapidly declining volume of business. No proof was needed to demonstrate that there was energy enough to prosecute the business, for that had already been shown in the com- pany's past career; as in 1873 it occupied third place in the number of policies written, out of fifty-six companies transacting business in the state of New York. The simple facts were, however, that the company was comparatively young, its assets small and its surplus meager. To have continued an aggressive policy, with its attendant expense, when the older and larger companies were rapidly increasing the rates of com- missions, would have reduced the surplus, already small, and probably wiped it out altogether, with the result of placing the company in a position not encouraging for its future. While it is true that the Metropolitan had been issuing policies on the weekly premium basis, as above stated, since the year 1869, and the Prudential Insurance Company of Newark had been writing business since 1876, restricting its efforts up to 1879 to the three states of New Jersey, New York and Pennsyl- vania, and the John Hancock of Boston had also engaged in it, yet Industrial insurance was not widely known in this country until the Metropolitan entered the field in the last year. In the early part of 1879 the subject of introducing that plan of insurance in this country after the general working methods of the great London company was rediscussed by the officers of the Metropolitan, who had been considering it, off and on, for several years previously, and it was then determined to give the business a trial. Industrial insurance is insurance adapted to the working classes by providing amounts of insurance based on weekly premiums of five cents and multiples thereof, collected by the company at the homes of the insured. It required more than ordinary courage and faith to branch off from the old and well-tried forms of insurance to enter this new field. The English company had appeared to be a wonderful success, but whether the system would prove successful in this country was an open question. In the first place, it was not known whether it would be popular among the industrial classes of America, and even if a large volume of business could be written, there was absolutely no criterion as to the probable death rate, or whether enough of the premium income 7 could be retained to meet the legal reserve required by law. The pre- sumption was not altogether in favor of success, because the great English company established its own rule of computing the reserve liability, and could at all times, therefore, show a surplus; while in this country the rigid rules of valuation called for a high reserve, failure to meet which would mean disaster. To fully appreciate this statement it is only necessary to say that it was not until the end of 1886, or thirty-eight years after its incorpo- ration, that the Prudential Insurance Company of London, which then had over seven million policies in force, adopted the rule practised in this country, known as the net premium basis of valuation. The actuary of that company, in his report concerning this matter, said: "It may be contended that the principles which are adopted in the valuation of Ordinary assurances are not applicable to Industrial risks, but it must be a source of the highest gratification to every one connected with the company to feel that the business of this branch will now bear a test so severe and one hitherto unknown in the history of Industrial Insurance." He must have meant the history in Great Britain; the test was borne by the Metropolitan in the United States from the start. But, after the decision of the Metropolitan officers was arrived at, the work was prosecuted with the utmost vigor. Several companies were already in the field and were operating in various states. Some one company must stand at the head, and the Metropolitan determined to push to the front and hold the leadership. Rather than rely wholly upon the slow process of educating men here to the intricacies and difficulties of field work, the company imported from across the water a large number of men who were experts in the prosecution of the business, and who (with their families) were located in the prominent cities of the country. To these, in addition to its own home force, was assigned the task of laying the foundation; of educating a body of efficient co-workers; training them to the best methods of house-to-house can- vassing and collecting; perfecting them in the intricate matters of bookkeeping, accounts and the numerous forms inherent to a business of so much detail; and thus developing in others the powers of supervision and leadership. Many of the men who joined the company in the very earliest years of its operations are in the active service of the company to-day, and are justly proud of their connection with it. 8 The first Industrial policy in the Metropolitan was written in November, 1879, and in 1880 it wrote 215,878 policies. When these results were first published insurance men were astonished, not thinking it possible for such a volume of business to be written by one company. When we consult the New York Life Insurance Report, giving the total business transacted throughout the country during the year 1880 by all the companies writing Ordinary business, and find that the aggregate number of policies written by those companies was 72,267, it is not surprising that the attention of the insurance world should be focused upon this particular phase of the business. The Superintendent of Insurance of New York State wrote in his Annual Report in 1881: " This class of insurance is somewhat new and is yet an experiment in this country, but thus far it seems to meet with success, which promises well for its future growth and prosperity; * * * one company in New York, the Metropolitan, has issued during the past year more than two hundred thousand of these policies." The Prudential of Newark, operating since 1876, had on January 1, 1880, 43,715 policies in force, limited, as already stated, to three states; while the Metropolitan, in its first year, wrote over 200,000 policies. The lead thus taken by the Metropolitan has been maintained without interruption during all the intervening years, and its remarkable growth is worthy of a place in the history of the nation. The income of the Prudential of London in 1854 (the first year of Industrial insurance) was $15,375; in 1864, $381,355; in 1874, $2,898,060; in 1884, thirty years after it began Industrial business, SI 5, 308, 370. The income of the Metropolitan in 1879 (the first year of Industrial insurance) was $567,598; in 1889, $9,863,819; in 1899, $28,798,714; and in 1907, $73,114,161! Thus in thirty years the Met- ropolitan will have reached more than five times the income reported by the Prudential at the end of the same period of its history. Who will venture to say what the income will be ten years hence? The expenses of establishing a "plant," of vigorously pushing the business, of meeting the high rate of mortality among the industrial class, and of attaining and maintaining the leadership of the business, were so great that it was deemed wise, in 1883, to seek legislative permission to increase the capital stock of the company. That permission being promptly granted, $400,000 was added, making the capital $500,000. 9 It is interesting, when considering the company's present proud position, to note how, in its earlier days, it passed through difficulties so great that by many its future was deemed problematical. According to the Massachusetts Insurance Report (the Massachusetts standard of valuation required a much higher reserve up to 1887 than did the New York standard; then, in accordance with a law passed by the Legislature, the New York standard was changed), the surplus was $298,791.13, December 31, 1882. On the 31st of December, 1883, the surplus was $331,474.24, or an increase of only $32,683.11 over the previous year, notwithstanding that $400,000 had been paid in cash by stockholders during the year! At the end of 1884 the surplus was reduced to $201,209.25. It is true there was some consolation in the fact that the loss was not so great as in 1883, but the question naturally arose, How long can this thing last? When is the tide to turn? The feeling of apprehension that prevailed at the end of 1885 can perhaps be better imagined than described when it is stated that the surplus had dropped to $139,651.41, which was the equivalent of a loss of $559,139.72 in three years! Of course this amount had been absorbed mainly in establishing numerous agencies in many states, embracing thousands of men; in the vast amount of canvassing literature and other material necessary to the work; in large accessions to the Home Office clerical force, etc.; but in computing the assets no credit could be taken for these, and the only question was whether the company would be permitted to maintain its hold long enough to demonstrate the wisdom of its expenditures and the value of its plant. The tide began to turn in 1886, seven years after the corner-stone had been laid, and at the end of that year the surplus had increased to $258,123.03, and continued to augment so rapidly, that the company has been able during the past fourteen years to grant concessions to policy- holders, the cash value of which exceeded thirteen millions of dollars. From the end of 1879 to the end of 1891 the number of policies in force in the Ordinary Department fell from 7,680 to 3,153, because little effort was made to secure new policy-holders, though the interests of existing policy-holders were guarded with the utmost care. During this entire period the officers of the company were men of one idea as to new business, not deviating in the least until that one idea had developed a healthy, vigorous, gigantic institution whose ramifications extended in to every city, town and village of any importance in twenty states, in addition to the District of Columbia and the Dominion of Canada, and embraced with its arms of protection more than two millions of policy- holders. Then, realizing that its army of 7,000 agents must of necessity come in contact with some people who desired and could afford to pay for larger sums than the Industrial Department was designed to cover, it was decided, in 1892, to revive the Ordinary Department. With this object in view new rates of premium were computed, covering the Ordinary forms of insurance and some special forms, but all on the stock, or non-participating, plan. Death Claims ISSUED IN FORCE DECEMBER 31st and Matured YEAR Endowments avmber Amount \ UMBER Amount Amount 1880 o i U 6,o9o $243,434 1881 202 280,358 6,325 9,433,733 248,598 1882 172 215,639 5,843 8,566,445 165,236 1883 239 256,805 5,006 6,888,782 143,076 1 Q^iJ. 1 oo*r 242 239,292 4,448 5,692,785 1885 184 176,980 4,082 5,062,985 136,152 1886 147 150,535 3,759 4,604,351 124,415 1887 127 135,100 3,524 4,272,790 1 3 1 , 1 06 1888 185 235,435 3,379 4,067,777 121,273 1889 242 277,572 3,319 3,986,592 86 796 1890 296 371,741 3,287 3,922,486 103,950 1891 178 193,511 3,153 3,767,882 1 1 1,355 1892 1,704 2,002,641 4,446 5,316,300 96,654 1893 5,486 6,123,656 8,162 9,259,471 168,222 1894 12,326 14,099,859 15,744 17,861,196 135,545 1895 15,572 17,822,542 23,253 26,570,719 221,773 1896 16,483 16,314,767 30,835 33,097,851 360,071 1897 36,663 28,505,975 52,789 49,141,366 344,488 1898 55,189 45,058,562 82,511 74,780,578 481,316 1899 79,549 65,650,789 124,948 1 1 1 901,834 765 786 1900 94,506 85,026,924 166,990 154,900,241 1,100 334 1901 1 15,431 84,334,849 225,640 195,485,753 1,538,999 1902 132,964 101,812,141 278,360 237,490,121 1,703,489 1903 137,917 100,920,21 1 336,570 282,505,630 2,1 16,649 1904 178,312 131,312,194 415,177 342,535,052 2,752,293 1905 185,741 134,709,960 477,547 388,585,457 3 064,141 *1906 152,300 112,886,895 531,467 428,184,083 3,083,012 *1907 196,411 122,407,935 606,922 487,063,095 3,759,443 Total, $23,450,356 *On a "paid-for" basis. During the twelve years alluded to above the agents of the com- pany had devoted their entire time and attention to Industrial insurance, 11 so that the great bulk of the field force was like an undrilled army in the Ordinary Department, being wholly unqualified to successfully solicit this form of insurance, and unable to compete with the agents of other companies. They were unacquainted with the various plans offered by those companies, and were not very well versed in the plans offered by their own company. This condition necessitated a "Campaign of Educa- tion," which was vigorously prosecuted, and with results which will be observed in the table on page 11, beginning with the year 1892. The record in the growth of business in the Ordinary Department since 1891 is evidence of wonderful results in the number of policies and amount of insurance, and when it is added that this business at the end of 1907 represented annual premiums amounting to more than $20,000,000 and that the reserve liability reached the enormous sum of $70,000,000, some conception can be had of the results of the labor in this Department during the sixteen years ending with 1907. In 1879 the Metropolitan was toward the rear of the insurance army. During that year there were thirty-two companies operating in the state of New York, and the Metropolitan stood number thirty-one in amount written, number twenty-three in total income, and number twenty-two in amount of insurance in force. Of the thirty-two companies alluded to above, four have since dropped from the list, and eight new ones have been added, so that there were thirty-six companies authorized to do business in the state in 1907. Many of these companies were strong institutions in 1879, with agencies firmly established, and doing a thriving business. There were giants among them even at that early day. He would have been a bold prophet who at that time would have predicted that in fifteen short years this modest company would force itself ahead, and occupy the very first position with respect to insurance written, and the fourth with respect to income and amount of insurance in force. Yet these were the respective positions of the Metropolitan as far back as 1894 and maintained each successive year with respect to insurance written, and it now occupies second place with respect to insurance in force. During the year 1907 the Metropolitan wrote more insurance and gained more insurance in force than all the other New York companies combined. At the end of 1907 there were eighteen companies engaged in transacting Industrial business, with Industrial policies in force at that time as indicated by the table following. 12 By subtracting the Metropolitan's figures from the total there remain 9,820,668 policies, insuring SI, 258, 236, 529; so that the Metro- politan had nearly the same number of policies in force as the other seventeen companies combined, and about Sf>(),000,000 more insurance. Xr.MBER Amount .He LI UUU11 Idll 7,U1J ,UO / C r 7 17 QQ7 4.QA A ^9 7Q 1 T *~\ Vi »i I— T o 1 1 iT",/"*!.* - 1 AQ9 IQ'i 97 7 1 1 f. 1 f^f. — / vj , 1 1 0 , 1 DO Life Insurance Company of Virginia 471,209 52,895,697 Western & Southern 302,845 33,529,081 Colonial of New Jersey 131,595 15,629,430 Baltimore Life 111,922 9,947,906 Mutual of Baltimore 56,534 6,656,921 Boston Mutual 41,957 8,104,783 Eureka, Baltimore 34,061 1,809,796 Equitable, District of Columbia 29,375 3,559,538 American National, Texas 27,223 4,303,311 Immediate Benefit, Baltimore 25,037 2,281,583 Commonwealth, Kentucky 18,929 2,846,978 American Life, Florida 2,256 345,087 Home, Delaware 9,944 950,579 West Coast, California 10,986 1,718,844 Southwestern, Texas 1,607 249,657 Totals .... 18,833,755 S2, 576, 120, 015 When one considers that the average Industrial premium in the Metropolitan is about ten cents, and that it takes one hundred of them to make ten dollars, it is a cause for congratulation among the friends of the company to know that, in the states of New York, Massachusetts, Maine, New Hampshire, Rhode Island, Connecticut, Maryland, Virginia, Kentucky, Tennessee, Ohio, Missouri and the District of Columbia, it received during the year 1907 more dollars in premiums than any other company. It is not to be understood, however, that these results have been secured exclusively from Industrial premiums. The premiums from the Ordinary Department have been of material help in this direction. 3Fmattrial Gkmutl) of X\)t (Eomwattg A glance at the column in the following table, representing the assets of the company at the end of each year, is exceedingly interesting. It will be observed that at the end of 1882 the total amount was actually less than at the end of 1876; but when the end of the next 13 Table Showing the Assets, Liabilities and Surplus at the End of Each Year, also Total Claims Paid, Compiled from the Official Reports of the Insurance Department of the State of New York. Year Assets Lia BILITIES Surplus Total Claims Paid 1 OOO ^400,04 / . 1 0 jplol,// l.U/ 07Q 07A A 7 ;Szoo,z /6.U0 *^ C A O 1 A A 3f>o,0o 1 .UU 1 ooV cn,1 £ A £ 2 O 7 C Q A /I 0 in O 7A A AO 07 zjO,4oz.V / OI 1 7 A AA z 1 , 1 oU.UU 1 0 / U 0O0, V 14.1V 707 OA7 /I *7 / Z 1 .VO / .4/ IAS O A A 70 iuo,y4o. /z C f 7 7 A AA 56, / /U.UU 1071 1 O / 1 1 1 AO 7AA "7 0 1,10/,/ (Jo. /o yo4, w 1 .uu OAA "2 7/1 QO zUU,o O4.0Z Q7 CAA A A 0 / , OUU.UU lo 12. 1 A O 1 /I AO *7 *7 1 ,4zo ,4Uz . / / 1 on 7?n aa 1 ,zoz, 1 oV .UU 10A AA7 77 iyu,66o. / / 1 A C AAA AA 1 6o,UU0.UU 1 Q 7 7 1 0 16 1 CQO TOO 1 ,ooV, /zo.oo 1 a 0 a qc i aa 1 ,4zU,ooo.UU 1AQ Q,1S 7A 1 00,040.00 1A7 CA/1 AA 1 V / ,064.UU 1 Q 7 A 1 0 /4 1 Q/1Q AQQ A 7 1 ,o4o,Uoo.oo 1 A /I A 1 OO 7 A 1 ,o4U, 1 88, /0 OA7 QOO Q 7 zu / ,oyy .0 / 07Q AAA C7 zoo,U6y.o7 1 O *7 C 1 0 7 o 1 AC/t O 7 C A A 1 ,Vo4,z / O.VV 1 7T 1 7A1 A 7 1 , 11 1 , /y 1 r)S O"30 ,1Q^1 AA zoz, 484.U6 OOO CCA IO z88,006. 1 0 1 0 /o O 1 A C 1(17 11 z, 14o, Ivo.z 1 1 A 1 C OO 7 /I Q 1 ,y 1 0,Vz / .40 OOO OA Z 1 1 zzy,zoo. / 0 07C 771 AA zoo, l/\ .UU 1077 1 0 / / O AQ 7 COT yl 7 z, (Jo/, ooz. 4/ 1 , /yo,ozz.zo OOI 7 A A 0 1 zy 1 , / OU.Z 1 0 1C C C 7 AA z 1 o,5oo.UU 1 0/0 O A Q 1 AQ1 Ofl z,(Jo4,Vo 1 .VV 1 7 a 1 0 A 7 AT 1 , / 0 1 ,o4o.Uz 7-07 11Q07 OZO.loO.y/ O A 7 A O A A A z6/,Vo4.UU 1 070 1 0 /V O AOO /I QO /I C z,(Jzz ,4oz.4o 1 A C O Q A 1 ^ 1 1 ,0 0z,oU 1 .0 1 7AO AQA Q/1 ooy ,00U.04 017 CAO AO z 1 /,oyo.6o 1 Q O A 1 OOU 1 O/t 7 Oil 7 0 1 ,V4/ ,oz 1 . /V 1 coo 707 "27 1 ,005, .5 0 / .OO 1 ZCl A 1 4 /1A o0y,4o4.4o OOC 7AO C7 zoo, 060.00 1 DO 1 1 OO 1 1 O 7 1 C\A 7 AQ 1 ,V / O ,U4 / .Uo 1 C07 DC? AA 1 ,0V/ ,Voo.UU 77c AO/1 AQ 0 / o,uy4.uo 77A 1A7 7A 0 /y, 1 UO.OU 10 0 0 1 ooz O AA1 /I Ayl 1 "2 Z,(JUz,4o4. 1 0 1 AOO CC7 AA l,OZ/,Jj/ .Uu 7 70 OA 7 17 0 /y ,yu / . 1 0 A A C C 1 A 7A 440,0 1 V . / U 1 00 1 1 OOO z, 1 oo,ozz.Z4 1 CCO A A 1 ,00V, Z 04. UU f 0 7 7 A Q OI UZ / ,OO0.Z4 A A O O CO OA o4o,ooo.zy 1 O O A 1 oo4 O "2 A A AA/1 Q 7 z,0U4,UU4.o / 1 AOA QQO AO 1 ,oVU,ooz.oz A 1 7 1 O A O S 0 1 O , 1 Z U . Z 0 A7A AAO A7 y /o,yuo.67 1 QDC 1 OOO O 7Q/I O ^ A A1 Z , / o4, V04.U 1 O A7 Q C 7 1 AA Z,U/ 5,0 / 1 .OU 7 A A 7 Q 0 ,11 /Uo,ooz.4 1 1 OQ7 7AC 17 1 ,Z8 / , /60. lo 1 Q Q A 1 OOO 1 7 A ^ O 7 A A 1 0, /Uo, V /U.O 1 7 nil O 7/1 C Q z , y 1 0 , v / 4 . 0 0 701 OOA A7 / y 1 ,y vo.uo 1 COO OH 7A I ,o8z,o4z.o9 1 QQ7 loo / A O A 7 A 0 A 0/1 4,VU / ,UZ4.Z4 /l A/1 7 A 7 0 1/1 4,U4o,Ooz. 14 Q A 7 700 1A 000, oyz. iu 0 117 7O0 7A z, 1 lOjOVz. lb 1 DQQ 1 OOO A 0 Q 7 7 Q 1 1 Z o,zo / , / 0 1 .00 C 7 AA 7C0 /I O 0,ooU, /oo.4y O07 AOO QA yz / ,uzz.oo O CCO 1 f A OO z,5oz,oo4.zo 1 00V Q ;07 A A Q 7 7 0,0V / ,40o. / / 7 AAA OQ/I Q7 / ,UUU,zo4.0 / 1 S07 1 Q 7 OA 1 ,oy / , 1 oo.yu 7 A/1 C 1 O/l 77 o,U4o, 1 V4. / 7 1 QOA 1 oVU 1A7Q1 1 7; A| lU,/ol, 1 / o.Ul Q AAA ^ A1 OA 0,004, 1 4 j .yu 0 1 1 7 A 0 O 11 z, 1 1 / ,uzy. 1 1 7 7C1 COO 7Q o,/01,0zz.oo 1 oni 1 oV 1 17 AIA Q Q A 01 1 o,OZO,Vo4.Z 1 1A C 7 Q 1 I c m I U.jJo, 1 I O.Uo 7AOQ Q77 1Q o,UoO,ooo. 1 0 A A 1 7 A OA 7 c 4,4 1 o,4zU. / 5 1 QO") 1 oVz 1 A, C: A£ 1Q1 OO 10,oU0,zoz.zZ 10 1 7 A C 71 1 Z , 00 1,/Oj,/j 7 A 7/1 SIAzIO 0,0/4, 010.4V A OAA OOI Q A 4, vuu.v 0 1 .00 1 0V0 IO 1A 1 7AC a a 1 V,o4o, /Uo.UO I c 01/1 A 1 C. 1/1 1 0,Zo4,U 1 0.14 A 1 AO A Q O O 0 4, iuv,oov.yz C C7C lOAAA 0,000, 1 ZU.UV 1 QQ 1 1 oV4 00 "2 OA AOO 1A ZZ,oZo,OZZ. 10 1 Q OOO SO IOS 1 o.zvz.ovo.yo A A7/1 AOQ 01 4,Uo4,UZ0.z 1 C 7/17 QOO (11 0, /4/,ozz.V4 1 QO ^ 1 0V0 i: COO AA "? 7 Q zo,oVz,UUo. / 0 0 1 1 1 1 O 7 7 A 7 Z 1 , 1 1 4,V /o.U / A All A7A 71 4,4/ / ,UoU. / 1 A COA 700 OA 6,0oU,ooy o4 1896 30,628,967.89 25,577,550.40 5,051,417.49 6,965,656.31 1897 36,370,078.91 30,685,874.80 5,684,204.1 1 6,991,086.50 1898 43,512,013.51 36,052,407.85 7,459,605.66 7,691,942.55 1899 51,070,840.74 43,417,361.06 7,653,479.68 Q ^ 7 ^ 1 1A 1Q O,0/O, 104.0V 1900 62,158,034.33 53,414,006.42 8,744,027.91 9,799,124.21 1901 74,771,758.56 64,833,064.33 9,938,694.23 10,714,383.67 1902 89,168,790.55 78,817,452.53 10,351,338.02 1 1,354,458.93 1903 105,656,311.60 94,964,454.04 10,691,857.56 13,003,870.60 1904 128,094,315.24 1 13,258,574.25 14,835,740.99 14,950 107.02 1905 151,663,477.29 135,473,231.33 16,190,245.96 15,395,043.43 1906 176,429,015.04 160,199,535.12 16,229,479.92 16,012,034.26 *1907 198,320,463.23 184,368,564.09 + 13.951,899.14 18,233,369.58 Total, $185,929,364.56 '•''The official report for 1007 will not be available for sonic months. +The decrease in surplus at the end of 1907 was caused by the temporary depreciation in the market value of stocks an 1 bonds shown by the quotations on the last day of the year, custom having established that day's quotations as the basis of valuation of the assets of insurance companies. period of six years was reached we find the assets to have increased more than threefold— amounting to $6,287,781.35 at the end of 1888, 14 and the annual increase since then has been phenomenally rapid, reaching the magnificent sum of 5198,320,463.23 at the end of 1907. The Table Below is an Exhibit of the Industrial Policies in Force at the End of Each Year, Industrial Death Claims and Matured Endow- ments and Dividends Paid During Each Year. Year Policies in Force Claims and Endowments Paid Returns to Policy-Holders in Cash Dividends Number Amount Number Amount r\o tu c P"ni*tv UK Inr. r-UjCH - alent Thereof 1 6 / y 5,143 sS16 618 4 $99.00 1 OOU 1 10,193 9,103,870 1 ,066 33,934.53 1 Oh 1 190,348 1 7,894,620 2,646 130,505.30 1 ° ° 1 I ooz 335,789 34,679,307 4,308 279,283.70 too; 526,042 56 536 325 7,045 505,782.29 1 OC ] 1 Oo4 670,999 71,965,635 10,860 834, 1 58.67 l oor Ioo3 829,833 91,434,252 13,696 1,151,413.13 1 ooo 1,066,875 1 19,560,339 16,916 1,458,427.39 1 oo / 1,345,125 147,758,287 22,566 2,098,936.76 1 ooo 1,632,642 176,533,142 26,959 2,431,091.28 1 0 GO looy ES49J13 200,*829!929 32^451 2.958,398.77 i con i ©yu z.uyo.oyo ZO 1,11 0,440 1Q A 7Q oo,4/ o o,o4/ ,0 / Z.ob i oy i 2,278,487 254,939,881 45,062 4,302,065.75 1892 2,715,414 305,451,576 50,063 4,804,327.86 1893 2,932,064 343,917,746 53,999 5,366.898.00 1894 3,559,165 423,514,171 57,653 5,612,407.94 $40,208.00 1895 3,458,846 416,062,194 64,597 6,359,616.84 84,355.00 1896 3,643,569 454,068,004 63,632 6,605,585.06 199^148.00 1897 4,028,722 534,343,756 63,525 6,646.598.45 1,081,668.00 1898 4,317,274 591,427,272 69,254 7,210,627.27 863,801.00 1S99 4,855,756 688,629,175 76,359 7,809,348.72 1,069,722.00 1900 5,327,067 768,977,676 85,870 8,700,081.33 928,389.00 1901 6,008,662 881,491,451 90,209 9,207,656.03 689,641.79 1902 6,698,291 981,676,306 95.609 9,645,380.33 670,746.50 1903 7,187,345 1,059,875,827 106,585 10,887,221.43 640,912.48 1904 7,614,729 1,127,889,229 1 16,419 12,197,814.54 790,077.43 1905 8,119,158 1,207,924,312 116,725 12,330.902.08 781,363.74 1906 8,487,670 1,264,684,502 121,238 12,929,022.00 1,846,587.44 1907 9,013,087 1,317,883.486 132,283 14.473,926.87 3,378,288.93 Totals, 1,586,077 S160,619,083.70 $13,064,909.31 p Gouwrneur Morris, John Rutherford, Simeon DeWi woods, Battery • g>ttr of t\}t ijnme ©tfirr Smlflutn, By Charles Hemstreet, Author of " Xooks and Corners of Old New York," etc. ECULJAR interest has been attached by tradition to the site of the Metropolitan Building, at Madison Avenue and Twenty-third Street, New York City. Here it was that a revolution was wrought in the plan of laying out cities and that the scheme of avenues and cross streets was conceived. It was on a hot summer day in 1810 that the Commissioners of Streets and Roads, after three years of fruitless efforts to agree upon a plan, were spending the afternoon upon the banks of the little stream that came across what is now Madison Square and skirted the northern side of the plot upon which the Metropolitan Building was erected fourscore years later. Gouverneur Morris, John Rutherford, Simeon DeWitt and S. Guel, with their surveyor, John Randel, Jr., were sorely perplexed. They had been charged in 1807 with the duty of laying out the unoccupied portion of Manhattan Island so as to provide for the orderly expansion of the city. For two centuries New York had been growing in a haphazard sort of way, the little Dutch trading post about Fort Amsterdam and the villages that had grown up in the lower part of the island having been welded together by the building up of the intervening fields and woods, and there was a hopeless tangle of a town, reaching from the Battery to Houston Street on the East Side and to Christopher on the West. It was felt that streets should be mapped out in some regular fashion before the city spread further, and this commission was created. The members traveled, consulted engineers in this country and abroad, and were unable to decide upon a plan. They had tried to devise a "natural city" — one that would preserve the configuration of the land and the courses of the streams, but the results were manifestly impossible. 17 They had rejected with one accord the system of square "blocks" which Philadelphia had adopted. On this summer afternoon the commissioners naturally fell to discussing the problem that had become a bugbear to them, and walking over to where there was some freshly screened sand, they began drawing plans with their canes to illustrate their arguments. • The sun peeped out from behind a cloud to look at these grave men as they grew warm over their discussion, and the rays struck a big screen that the workmen had been using, casting at the feet of House of Refuge, Madison Square, 1832 the commissioners the shadow of the wires, dividing the sand into neat oblong spaces. ■ - "There is the plan!" exclaimed one, and out of this suggestion that the screen and the sun had conspired to put into the minds of the commissioners, grew the scheme of broad avenues running the length of the island, with cross streets placed closer together. In the following year they presented their plan to the city authorities and it was adopted, though it was utterly unlike anything that had ever been thought of in the laying out of cities. 18 The only criticism that subsequent generations have made of the plan is that the blocks ought to have been turned about, so as to provide more avenues and fewer cross streets, but this fault is probably charge- able to the screen being so placed that the shadow of the meshes showed the greater length of the rectangles lying east and west. These men laid out the city as far north as 155th Street, thereby incurring the ridicule of their townsmen, who declared that it would take a score of centuries for the city to fill the map that the commis- sioners drew, yet New York now has streets numbered in the 200 's, though it has not yet rounded out a century since this plan was devised on the spot where the Metropolitan Building now rises. Near the end of the 18th Century the Bloomingdale Road (now Broadway) was the fashionable drive of the city, and at Twenty-third Street the Boston Post Road branched off, crossing toward the Madison Square Garden site, with the Potter's Field to the left and a pond to the right. This sheet of water was directly in front of the plot on which the Metropolitan Building stands, and in winter it was a favorite skating place. It was a widening in the stream that had its origin in springs that rose at about Twenty-second Street and Sixth Avenue. At Twenty-fourth Street and Madison Avenue it narrowed again into the dimen- sions of a little rivulet and ran east, cutting across the northeast corner of the Metropolitan site and emptying into the East River at Seventeenth Street. The Potter's Field did not long remain here. In 1795, moved by the objections of the rich folk, who did not like driving past such a grewsome spot, the city moved the burying-ground of paupers to what is now Washington Square, and in 1806 the city ceded the plot to the Federal Government for an arsenal, which was built in that year in the northwest corner of the present Madison Square, covering the sites of the Farragut, Worth and Seward monuments. This property was deeded back to the city in 1824 and the building was converted into a House Franconi's Hippodrome, Madison Square, 1853 19 of Refuge, which was opened in January, 1825. The building was destroyed by fire in 1839, and the institution then moved to the foot of Bast Twenty-third Street. The military spirit of the people was being stirred in 1810, when the plan of the city was prepared, by the troubles with Great Britain on the high seas, and the commis- sioners included in their scheme a great reservation for a parade ground and public park, setting as its boundaries Twenty-third and Thirty-fourth Streets and Third and Seventh Avenues. This was the site of Camp Madi- son, where, in August, 1812, the troops from up-state towns were mobilized for the war, in obedi- ence to the call of President Madison for 315,000 soldiers to fight the British. During the next two years the Eleventh Regiment held its weekly drills on these grounds, and camped for three months of the fall of 1814 on what later became the site of the Metropolitan Building. In September of that year there were 25,000 soldiers encamped here, and on November 13th, Governor D. D. Tompkins reviewed the troops. The Eleventh Regiment was mustered out of the Federal service on November 29th, but continued in the state service, and the four companies that con- stituted the Second Battalion afterward formed the Twenty-seventh Regiment, which was later designated the Seventh, so it may be said that that illustrious command practically began its active career on this site. The parade ground was reduced in size at the end of 1814, the new boundaries being Twenty-third and Thirty-first Streets and Fourth and Sixth Avenues. In 1844 it was contracted to the present dimensions of Madison Square and its improvement as a public park was begun by Mayor James Harper. At this time Corporal Thompson's cottage occupied the site of the present Fifth Avenue Hotel, and with Buck's Horn Tavern, at Broadway and Twenty-second Street, provided refreshments for wayfarers and for 20 the merry parties considered Madlsnt Twenty-third Street and Madison Avenue, which afterward made section as a fashionable residential place came the building, in 1853, the merry parties that rode or drove out from the city, which still considered Madison Square " country " in the 'forties. In the enclosure adjoining the corporal's cottage on the north, cattle shows and sales were held until, in 1853, a number of houses having been erected in this section by fashionable people, the road-house made way for Franconi's Hippodrome. This was a two-story brick building 225 feet in diameter. It was opened May 8, 1853, but was too far from the bulk of the population to have a long or profitable existence. In 1855 Amos Eno tore down the Hippodrome and began the erection of a hotel, which he leased to Paran Stevens, who opened the hostelry in 1858. By the end of the 'forties the houses of the wealthy dotted the region from Fourteenth Street to Murray Hill, one of the most notable being the residence of S. B. M. Barlow, at Twenty-third Street and Madison Avenue, which afterward made way for the first Metropolitan Building. Mr. Barlow, a wealthy lawyer, was a patron of literature and art, and his home became a centre of culture. With the development of this section as a fashionable residential place came the building, in 1853, Of the MadisOU Square Presbyte- Corporal Thompson's Inn, Madison Square. 1840 rian Church, on the Twenty-fourth Street corner, adjoining the Barlow residence, and the edifice was opened for public worship in December, 1854, under the pastorate of the Rev. Dr. William Adams. This church has acquired fame through the ministerial prominence and civic activity of its present pastor, the Rev. Dr. Charles H. Parkhurst. The building was demolished in 1906 to make way for the extension of the Metropolitan Building over the entire block. Two notable buildings closely identified with American progress occupied the eastern end of the block — the National Academy of Design, at Twenty-third Street and Fourth Avenue, and the Lyceum Theatre, on the plot adjoining on the north. The Academy, which in its long career has done valuable service in fostering and developing American art, grew out of the New York 21 Academy of Fine Arts, organized in 1802, and became firmly established in the 'twenties largely through the energy of Samuel F. B. Morse. After occupying several sites further down-town, it bought this property in 1857 and laid the corner-stone of the new building on October 21, 1863, but it was not until May, 1865, that the new home of art was opened. It was modeled after the celebrated Palace of the Doges in Venice, and was one of the show-places of the city until it was torn down in 1901 to make way for the extension of the Metropolitan Building, the Academy, in May of that year, having taken possession of its partially completed galleries at 1 10th Street and Amsterdam Avenue. The Lyceum Theatre, in a brief career of fifteen years, witnessed more successes and brought out more stars of the first magnitude than any other stage in America. It was situated in the middle of the Fourth Avenue block now occupied by the company. It was opened April 6, 1885, with a notable failure, the production of Steele Mackaye's "Dakolar," a version of George Ohnet's "Be Maitre des Forges," but in the following year Helen Dauvray turned the fortunes of the house with Bronson Howard's comedy, "One of Our Girls," and from that time on the stage of the Lyceum easily ranked among the most prominent in America. Daniel Frohman then took the house and organized his famous stock company, and had charge until the theatre was pulled down to make way for the Fourth Avenue front of the Metropolitan Building. The old theatre had three indisputable titles to an honored place in the annals of the stage. It was the birthplace of the Belasco plays, and it was on its stage that the Pinero dramas first won American theatregoers. It was the Byeeum that brought out such brilliant actors and actresses as Georgia Cay van, E. H. Sothern, William Faversham, Virginia Harned, Mary Mannering and James K. Hackett. Richard Mansfield, Herbert Kelcey, W. J. BeMoyne, Charles Walcot, Henry Miller, Minnie Maddern Fiske, and a host of others hardly less well known, were also members of the Byceum companies. Some of the famous plays were "The Wife," "The Charity Ball," "Sweet Lavender," "Lord Chum- ley," "The Prisoner of Zenda," "Trelawney of the Wells," "Miss Hobbs," "Squire Kate," "The Princess and the Butterfly," "The Adventures of Lady Ursula." It was at the Lyceum that Annie Russell achieved her greatest success in "A Royal Family," in which play Lawrence D'Orsay first came prominently forward. 22 flk.Mo\('f the main monumental «tructurvs tmd ^ politan Life Insurance Company stands iw rank by reason of the impressive statelim-v. m the thoroughly substantial character of its const pleteness of all its appointments. Square, near 4lHivv^^(\IVfe,\^\ l ^um>^ 1 ^S^v> )!; 1 $^M' The Metropolitan Buildi style of northern Italy - a sty! of a flexibility readily adapt! ments of the day, which dema freemen t and large-sized openir telv tant and N. LE BRUN & Sons, Architects iS^MOXG the many monumental structures erected in New York City for business purposes, the Home Office building of the Metro- ~ politan Life Insurance Company stands notably in the foremost rank by reason of the impressive stateliness of its design, its great size, the thoroughly substantial character of its construction and the com- pleteness of all its appointments. This pre-eminence is accentuated by an admirable location at the very centre of the Metropolis on the eastern flank of Madison Square, near the meeting point of three of its busiest thoroughfares, whence it can be seen to fine advantage above the leafy foreground of the tree tops. The completion of its crowning feature, the tower, will mark the culmination of a series of building operations which, commencing with the construction during the years 1890 to 1893 of the southwesterly section of the structure fronting on Madison Avenue, have continued intermittently to the present time. The Metropolitan Building is designed in the early renaissance style of northern Italy — a style combining dignity with refinement, and of a flexibility readily adaptable to the exacting commercial require- ments of the day, which demand a many-storied structure pierced with frequent and large-sized openings. The initial motif was, of course, the section built at the corner of Madison Avenue and Twenty-third Street. Though designed with no thought of future extensions, this section, from its massive proportions, the boldness of its detail and general architectural features, fortunately lent itself to a monumental solution of the problem, and the resultant building presents both in plan and in elevation a strictly coherent and consistent whole with no evidence of afterthought. 23 The following description and building statistics are given as though the construction of the tower, now well advanced, were completed. The building is in two parts — the main building occupying the entire block bounded by Madison and Fourth Avenues and Twenty-third and Twenty-fourth Streets, and the Annex, on the north side of Twenty- fourth Street, connected with the main building by a subterranean passage. The main building contains eleven stories and is 164 feet high; the tower, containing fifty stories above the sidewalk level, reaches an altitude of 700 feet. Each avenue front being 200 feet and each street front 425 feet long, the building has a girth of 1,250 feet and a total superficies of 345,000 square feet. This entire exterior is faced with pure white Tuckahoe marble, requiring for its construction about half a million cubic feet of that select material. The first story, with boldly projecting diamond-faced ashlar, serves as a plinth to the second and third stories, which are united as one feature and are decorated with a rich composite order of coupled columns and pilasters. At the main entrance on Madison Avenue and for a length of 150 feet at the centre of the Twenty-third Street front the columns project five feet, forming porticoes. Around the base of the tower and on Fourth Avenue they are slightly engaged, elsewhere omitted. The corner pavilions are banded with rustications to give a stronger effect to the angles of the building. The richest and most delicate carving marks externally the importance of the second and third stories, which, taken together, form what the Italians call the " piano -nobile" of the building and contain those suites of rooms occupied by the executive officers of the company. From the fourth to the ninth stories the architectural effects are obtained by the manner of grouping and decorating the windows, which have deeply molded and decorated reveals and carved mullions and are tripled in the curtains, and in the pavilions have plain molded architraves banded with rustications. The crowning division of the facade, containing the tenth and eleventh stories, comprises the main entablature and the balustrade or "attic." This vigorously designed entablature has a bold cornice, of six feet projection, which casts a strongly accentuated shadow proportioned to the height of the building. 24 All the hon/onlal lines ami arehiwur.il feature are continued around the bloek to the ju«< w»u of the tower, which, projecting live feet Ih\«m: i given to its sheer height. structure not walled in or intended to afford protection elements). In its general design and outline it . aflilia famous Campanile of St. Mark at Venice, which ha* been a Jrtototype, and brought into architectural harmony with building. Over a rich base reaching to the sill level of the fifth si Avwinns of the ^Vr^^l^r^^^mttMf^J'oiirth Avenue fron fj*t enntrr of the main building, where octagonal balconi< th« wt%Mt< ihiilon effect of that cornice without interrupting •■MIOtHtv ,fi th* .;.H•r^ and at the twenty-fifth, twenty-sixth u tructure, rises lxMiig thereby •t on Madison I icing included All the horizontal lines and architectural features above described are continued around the block to the junction of the building with the tower, which, projecting five feet beyond the main structure, rises directly from the street level, fullest emphasis and value being thereby given to its sheer height. The dimensions of this tower are seventy-five feet on Madison Avenue and eighty-five feet on Twenty-fourth Street. Its total height is 700 feet, exceeding considerably that of any other structure of steel and masonry hitherto attempted (the Eiffel Tower not being included in this comparison, that being in reality only an open-work "skeleton" structure — not walled in or intended to afford protection from the elements). In its general design and outline it is affiliated to the famous Campanile of St. Mark at Venice, which has been taken as a prototype, and brought into architectural harmony with the main building. Over a rich base reaching to the sill level of the fifth story, sixty- eight feet above the sidewalk, and decorated with all the elaborate architectural features of the lower portion of the main building, rises the severely simple shaft extending through twenty-eight stories or 366 feet. The angles are strongly accentuated by broad rustications, and on each face are three tiers of tripled windows similar to the fenestration of the central divisions of the Twenty-third Street and Fourth Avenue fronts. Other- wise the surfaces are unornamented and unbroken, save at the level of the cornice of the main building, where octagonal balconies continue the strong shadow effect of that cornice without interrupting the upward continuity of the piers, and at the twenty-fifth, twenty-sixth and twenty- seventh stories, where great clock dials twenty-six and a half feet in diameter, with elaborately carved framing, are placed. The crowning feature of the tower is separated from this shaft by a continuous line of boldly projecting double-bracketed balconies at the twenty-ninth and thirtieth stories, 377 feet above the ground, and is given richness and variety of light and shade by deep arched loggias of the Ionic order, having five openings on each side and a broad frieze cornice and balustrade. The loggia section extends through the thirty-first to the thirty- fifth stories. Over its balustrade, 454 feet from the sidewalk, the walls of the tower are set back and continue thus for four stories, forming a 25 massive plinth or base to the pyramidal spire which supports an octagonal turret whose gilded dome contains the forty-eighth and forty-ninth stories. The exterior marble work terminates with the windows of the forty- eighth story, from which level up the tower is cased with gilded copper. The highest lookout is reached at the balcony of the fiftieth story, 660 feet above the sidewalk level, whence probably the most compre- hensive and unique panoramic view in the world will be obtained. Within range will be visible the homes of over one-sixteenth of the entire population of the United States. The terminal feature consists of a great electric eight-sided lantern eight feet in diameter, from which powerful electric flash-lights will mark the hours of the night. At this culminating point it attains the altitude of 700 feet above the sidewalk, or 734 feet above mean tidewater level. This tower, in view of its truly colossal dimensions and other striking features, has been the subject of varying comment both in this country and abroad. When President Hegeman, with prophetic intuition, in 1893 first broached the subject of such a possible addition to the building, it was a rather startling proposition. But then all things are relative. In the good old time when five-story buildings and foot ascension was the accepted scale or limit of effort, such a tower might have been even considered monstrous. In this era of tall achievements it seems only a logical outcome of things. On its constructive side, the complicated problems involved in the building of such a tower have been mastered through the perfecting of that ingenious composite and perfectly legitimate form of building by which the great sustaining power of steel is utilized, firmly knit and anchored to a protective masonic covering of concrete, brick and stone; while the practical utility of such a tall structure has been made possible by the invention of the rapidly moving modern electric traction elevator, which brings the fortieth story nearer to the ground level than was the fifth story of our grandfathers. The structural and the practical difficulties being thus overcome, there remains the artistic side of the question to be considered. Whether architects are working toward the right evolution of a tall building, irreverently termed "skyscraper" style, the verdict of time only can determine. The testimony of the past shows that they have, at every epoch-making period, been sufficiently ingenious to create a 26 special style, giving and aspirations. Bi anew the elements arisen out of a mei ■ Belfrv at Bruges, 1 to Madison Square Tower, 1 t< [.rotnivpe at Seville, 1 to 6. Comparing the relation of height to environment: the Victoria Tower, London, is four and one-fourth times as high as the Parliament Hous\; St. Mark's Tower was five and a half times as high as the adjoining Libreria, five times as high as the Doges' Palace l'Mteta, tknt and one half limes the height of the main building, oi att«w^to^D\f. s«ov\ |K&it3^ lS s ncli ol the United States Post- Oftioe the MetmpolitaM H«#k the Western Union Telegraph Co., public %Jl\ v&w tit ure white Tuckahoe appointed a commission of experts, consisting of C. 0. Mailloux, Prof. H. W. Spangler and C. I. Duenkel, to investigate thoroughly the merits of the various types presented. After a very thorough study they reported in favor of the overhead electric traction type, which appeared to be thoroughly suited to the extraordinary rise of lift and the rapidity of service required. The construction and finish of the building throughout are of the most substantial character. The foundations are all founded on solid rock, which was encountered at varying depths from twelve to thirty- four feet below the sidewalk level. Owing to the number of years during which the building operations continued, the methods of construction of the successive extensions were changed to keep pace with the rapid advance in the art of building. Thus the exterior walls of the first section are of the old style solid masonry type of construction, and it was, we believe, the last of the modern buildings of its height to be built of that type in this city. While in the construction of the tower, in the methods of fireproofing and protecting the steel work from rust and in many other constructive matters, the work is a distinct advance upon any preceding effort. ©hp iHrtrojmlttait Ann?x In 1903 the Printing Department had assumed such proportions that it was impossible to longer carry on the work in the main building, and the company, in consequence, acquired a plot on the north side of Twenty-fourth Street, 75 by 100 feet, on which it erected the Metropolitan Annex. This building, sixteen stories high, is faced with pure white Tuckahoe marble on three sides, severely simple in style but designed in a manner to harmonize with the architectural treatment of the main building. It groups well, as shown in the perspective plate, not only with that building, but with the adjoining Madison Square Presbyterian Church. Nearly one-half of the building is occupied by the company for the Printing Department. On the second floor is located one of the nine District Offices which the Metropolitan maintains in Manhattan to facilitate the rapid handling of the work of the agents. The Annex is connected with the basement and sub-basement of the main building by a two-story tunnel under Twenty-fourth Street. 29 Bamt ilntmstmg ^tattfittra of % mptrnpolttan Hmtfting Size of building: Main portion of building 200x425x164 feet high Tower 75x85x700 feet high Size of Annex 75x80x216 feet high Superficies of exterior .... 345,000 square feet Including Annex 405,000 square feet Cubical contents, including vaults (excluding courts) . . . . 16,287,934 cubic feet Including Annex 17,850,239 cubic feet Floor area of building (about twenty-five acres) ... 1,085,663 square feet Including Annex 1,189,388 square feet Total weight of building . . 170,000,000 pounds— 85,000 tons Total weight of tower . 87,226,000 pounds— 43,613 tons Weight of structural steel: Tower 7,500 tons Balance 8,000 tons Total 15,500 tons Normal weight on corner steel columns 7,500,000 pounds Additional load due to high wind pressure 2,900,000 pounds Or a total load of 10,400,000 pounds Cross sectional area of steel corner columns, sub-basement 540 square inches Weight of basement corner columns 22 tons Number of bricks in building, about 35,000,000 Number of barrels of cement in tower alone, over 40,000 Number of cubic yards of concrete in tower alone, about 9,000 Number of cubic feet of white marble in exterior facing 556,000 (More than in any other structure in the world.) Number of passenger elevators (thirty hydraulic, eight electric) 38 Number of freight elevators (hydraulic) . 10 Number of stories in tower 50 Number of steps from first story to top of tower 1,053 Combined length of corridors ■ • 3§ miles Combined height of elevator shafts . 1$ miles Storage capacity of water tanks 90,900 gallons Storage capacity of coal vaults 4,000 tons Horse-power boilers 3,350 Number of miles of plumbing pipe (about) . . 13 Total length of cables of elevators : Hoisting and counterweight cables 121,000 feet Operating cables 19,000 feet Distance traveled by elevators in one year 124,090 miles Electric lights 30,000 Electric light fixtures 15,000 Motors (total horse-power, 707) 116 Iron conduits 800,000 feet— 15 H miles Electric light and power wire 1,000,000 feet— 189 miles 30 II illustrated by its experience in recent yea ictory home. Before giving a description ol \ reference to the earlier Home Chartered in 1868, the first location of the Metre politan was at No. 243 Broadway, New York City. Its offices, two in number, were on the second floor, and consisted of a small rear room for the president and a front room containing the remainder of the staff — vice- pivHsdt-Tit secretary, cashier, policy clerk and boy. The Ortfcv mii occupied was not over nine hundred square accommodation of the German Department. Six years later, in 1876, having outgrown the rentable space in the Broadwav building and the company being tired of tenancy, it purchased the leasehold of the property at the corner of Park Place and Church Street. Here it I the Annex and both the old and new Madison Square Presbyterian Churches ^JTHE magnitude of the Metropolitan and the astonishing rapidity of I I I its growth are well illustrated by its experience in recent years in securing a satisfactory home. Before giving a description of the present building, a brief reference to the earlier Home Offices will be of interest. Chartered in 1868, the first location cf the Metro- politan was at No. 243 Broadway, New York City. Its offices, two in number, were on the second floor, and consisted of a small rear room for the president and a front room containing the remainder of the staff — vice- president, secretary, cashier, policy clerk and boy. The entire space occupied was not over nine hundred square feet. Two years later the business had grown sufficiently to warrant removal to larger quarters at Xo. 319 Broad- way, where in addition to accommodations for the officers and clerical force (the latter then numbering less than a dozen) on the third floor, including a supply room 10x15, there was an office in the basement for the accommodation of the German Department. Six years later, in 1876, having outgrown the rentable space in the Broadwav building and the company being tired of tenancy, it purchased the leasehold of the property at the corner of Park Place and Church Street. Here it was believed the company had found a permanent home, but in the late 'eighties, when its business had expanded to five entire floors and was rapidly increasing, the executive realized that in the near future it would be compelled to look elsewhere for accommodations, and so it was decided to move "up-town." A plot 125x145, on the corner of Twenty-third Street and Madison Avenue, was purchased and a handsome building erected, the company First Office of the Company 243 Broadway 31 reserving the entire second, third, fourth and fifth floors for its own use. This space was believed to be ample for the use of the company for many years. How little the builders realized the possibilities of the business was apparent almost as soon as the rooms were ready for occupancy, the company being obliged to take additional space on the sixth and ninth floors, and a little later to fill the stores on the street floor with clerks. The problem then presented was, whether to part with the tenants, to whom rooms had been rented on the other floors of the building, or to provide additional accommodations elsewhere. It was decided to erect a new building, to be devoted entirely to the business of the company, and to remove thereto the entire Home Office staff, except the Executive Division and that of the Cashier, together occupying the second floor of the building on Twenty-third Street, the con- struction of the rooms occupied by those divisions being such that the space could not economically be prepared for renting. The new building was erected on Twenty- fourth Street, diagonally to the rear of the original building, was twelve stories in height and covered a plot of ground containing 11,500 square feet. Here at least was sufficient space to provide for the needs of the company for an indefinite period; but alas for the foresight of the most sanguine! Hardly were the divisions settled in their new quarters when it was seen that it would be a question of a few years only when more room must be had, and the lots on Twenty-third Street running back to Fourth Avenue were purchased. Later the remainder of the block bounded by Madison and Fourth Avenues and Twenty-third and Twenty-fourth Streets was purchased, giving the company 95,000 square feet, on which the present Home Office building stands. About one-half of the twenty-five acres of floor space in the building is used by the company; and even should the present rate of increase in the business continue, there is slight probability, in 32 Second Office of the Company 319 Broadway the lifetime of more space th: The Hon needing to be the WO* have knowlcdj devoted to thi the transact ion without rompu unable to see the realities some little idea of the internal arrangements for handling the enormous detail pertaining to a business of such magnitude as that of the Metropolitan. Before visiting the different divisions, a few words regarding the office staff generally will be of interest. At this time the indoor staff numl»ers ?.4f>8 clerks and 427 employes in the Printing Division and ding on paper is not to be compared ures, it will perhaps convey to those automatically by electric >ms. Clerks are fined for with bonuses for prompt ery clerk . vacation 1 o'clock. when re and me hed to U ments mark ill as to I the lifetime of any of the present management, of the company needing more space than is available in the building as it stands to-day. The Home Office building is the largest and is generally conceded to be the most beautiful office building in the world, and, so far as we have knowledge, the company's plant is the most extensive extant devoted to the business of a financial institution, and its facilities for the transaction of business and the comfort of the employes assuredly without compare. Visitors are ever welcome to the Home Office, and ushers to show them through the building are always available. While a trip through the building on paper is not to be compared with a sight of its interesting features, it will perhaps convey to those unable to see the realities some little idea of the internal arrangements for handling the enormous detail pertaining to a business of such magnitude as that of the Metropolitan. Before visiting the different divisions, a few words regarding the office staff generally will be of interest. At this time the indoor staff numbers 2,468 clerks and 427 employes in the Printing Division and other mechanical departments. The clerical force is made up of 1,533 women and 935 men. The regular hours of service are from 9 a. m. to 4.30 p. m., with thirty minutes for lunch. Clerks are expected to be at their desks at the opening hour and not leave the office until the closing hour, both periods being announced automatically by electric gongs, which can be heard throughout the rooms. Clerks are fined for tardiness and for absence, but are rewarded with bonuses for prompt and regular attendance. The bonuses last year were three times the fines. Every clerk with service commencing prior to the current year receives a vacation of two weeks with pay. On Saturday the office closes at 1 o'clock. Night work is avoided so far as possible, but when required, the clerks receive pay for overtime. Free medical service and medicine are furnished to any employe taken ill during business hours, and special arrangements made with physicians and hospitals for the care of those so seriously ill as to be obliged to give up work. The executive does everything it can consistently for the health, comfort and convenience of the employes. In 1900 the company started a fund for the benefit of its employes, both in the Home Office and the field, in the nature of a savings bank, 33 called The Metropolitan Staff Savings Fund. Its object is the creation of a fund by each contributor which will be available for his support when, owing to age or ill health, he will be incapacitated from further labor, or for his family at his decease. Every employe who has been in the service of the company for over one year, and whose earnings are less than $3,000 per annum, is permitted to deposit a limited proportion of his earnings, to which the company adds fifty per cent. The company agrees to invest the money and keep the accounts without expense to the members. Interest is credited to each account annually. Members may withdraw their own deposit and interest at any time, but the company's contribution is not returned unless the withdrawal is in consequence of being " incapacitated by age or ill health." The amounts contributed by the company, which are forfeited in case withdrawal is for other reason than age, ill health or death, are credited to the accounts of the persistent members less a percentage adjusted by a sliding scale, which is returned to the company. The present membership of the fund is nearly 5,000, and the amount standing to its credit over $600,000. The actual rate of interest, excluding forfeitures, credited to each account during the past year was 5.36 per cent. Including forfeitures, the average rate credited to each depositor was over eight per cent. The amount paid during the year on account of death or withdrawal due to sickness was $21,048.24. A bulletin is printed daily for circulation throughout the Home Office, in which appear notices of interest to the office staff and announcements of changes in the field force. Entering the building from any side, we find ourselves in the marble arcade running the entire length of the building, and which has been already described. Here is placed the Bureau of Information, to which all persons desiring to see the Home Office building, to communicate with employes or ask any question regarding the company are referred. In addition to the uniformed head of the bureau, there are messengers whose sole duty it is to pilot visitors through the maze of corridors to the division of which they are in search. Here are railroad time tables and directories of various cities for the accommodation of visitors, a card index of all Home Office employes, indicating the division in which each is employed, for their ready location by visitors, and a telephone 34 Z_ : >mr>;k wcvabolA ho sVmZ ^Jt\w^x3. gm-irosU ,Uwbiiai < \ \o ^s^O toimccting with c Home Office empl the ground *i<« basement. It ahf lixmtttur ©fltrrs The executive offices are for the most part on the second floor. The corner room at Madison Avenue and Twenty-third Street is the President's office, and is also used by the Board of Directors and the Finance Committee. It is a splendid room, 26x36, trimmed in richly carved San Ikmungo mahogany, with a monumental mantel designed alter nnt in the Chateau de Villerov. Its walls are covered with leather, uu.l the crthrtu which i> of orH2Hfl^;fl*WlasterVis faced with u<>ld leaf connecting with every' office. For the accommodation of tenants and Home Office employes, postage stamps are here for sale. In describing the Home Office, one method would be to start on the ground floor and follow the building through to the top from the basement. It would happen, if we should pursue this course, that divisions and sections of the Home Office work would be described out of their relations to one another and not at all in the order of their importance. We think the reader will get a better idea of the wonders of the head office work of the company if we take up the parts in natural order, somewhat as the work is actually done, indicating as we go along the places in the building where the officers and clerks are located. £hp txmttttir OMres The executive offices are for the most part on the second floor. The corner room at Madison Avenue and Twenty-third Street is the President's office, and is also used by the Board of Directors and the Finance Committee. It is a splendid room, 26x36, trimmed in richly carved San Domingo mahogany, with a monumental mantel designed after one in the Chateau de Villeroy. Its walls are covered with leather, and the ceiling, which is of ornamental plaster, is faced with gold-leaf — in the end most economical in cost, for age improves it and it will never need any attention or repair. The furniture is heavy and beau- tifully carved. The Madison Avenue suite is occupied by the reception room, officers' library, consultation room and Vice-President's office; the Twenty-third Street suites, by the Second and Third Vice-Presidents, Assistant Secretaries and Cashier, and the Twenty-fourth Street suites by the Treasurer and Comptroller. These rooms are all trimmed with rich mahogany, and the decorations are simple. The office of the Fourth Vice-President is in the tower, on the fourth floor, connecting with the Ordinary Department, of which he has the care; that of the Secretary is on the fifth floor, near the large clerical Industrial Department office force, of which he has special charge. In the Secretary's office we have an opportunity to see the working of the electric call system, one of the greatest "time" savers in the building. The necessities of the business require continual personal interviews, and the object of this system is the prompt summoning of a subordinate and the prevention of the loss of time consequent on attempted 35 interviews when a superior is engaged or not in his office. Pressure of a numbered button at the desk of the party desiring the interview throws down an arrow correspondingly numbered in the room of the party to be seen and says as plainly as words, "May I interview you?" The answer is given when the opportunity presents itself, by a similar indi- cation and the arrow thrown back, and not a moment has been lost by an unnecessary trip sometimes from an office several minutes away. Aitfttt Stmsum On the ninth floor we get the first glimpse of the Audit Division, the largest division of the Industrial Department, occupying, in con- junction with the Agency Division and the Stenographic Bureau, nearly the whole of four floors. The scope of the work of this division is not very clearly indicated in its name, for while the agents' reports are audited here, that is but a trifling part of its responsibility. All policies are here written, and all the books kept in which their subsequent history is recorded. The ordinary business man who has work enough to keep a stenographer and a couple of bookkeepers con- stantly employed is undoubtedly well satisfied with the amount of his business. This one division of the Metropolitan employs 287 men as bookkeepers and 752 women clerks. There are in the Audit Division over 500 women using typewriters and in the building nearly 800 type- writing machines of various makes — the largest number in use under any single roof in the world. A few figures referring to the work of this division will be of interest. Six hundred and six ledgers are in constant use, in which are entered in one year 65,000,000 figures, and 30,000 agents' registers in which are also entered in one year 200,000,000 figures. More than 12,000 transfer schedules are received each week. In one year there are used 7,000,000 register sheets, written on the typewriter (in duplicate), agents each receiving a duplicate of the list retained at the Home Office There have been written and issued in a single week over 77,000 policies. The work of this division is of such magnitude that experience has shown the only way in which it can be properly handled is to divide it geographically — each section doing the same line of work, and accordingly 36 toi >s«fct©<\sQ \ohkMb«\ .wo'n'mQ VibwK \o ^«oii^Z \\\§'i3. asU \o have been made received, f>t that *hp wlmh iSistnrti itf an Appltratuitt ihem into tht- medically examined and the medically inspected medical inspections are sent to the clerks in the Policy Division ol the Audit Division), and the medical examinations are hai. other clerks. The doctors' reports of inspections and examinatj' examined, and if there are any facts contained in a report t 1 ! clerk has no authority to pass she refers the application to the I Examiners at this office, who either pass, hold for correspondc clerks are either m rit-t d applications are handed i< {'».< head of the Policy Divinuu U* correspondence. The appii- .. t for second insurance are puv*<' to other clerks, who obtain fron the Filing Section the appBoi applications are then compared eight sections, designated by the first eight letters of the alphabet, have been made. The following will give some idea of the treatment applications receive from the time they leave the agents' hands until policies are received, or that slip which has blasted so many hopes — a rejection notice. history nf an Appltratton The applications are received at this office direct from the Medical Examiners and delivered at once to the Medical Division. There they are stamped, checked with the doctors' vouchers which accompany them, counted and passed along to clerks, who separate them into the medically examined and the medically inspected. The medical inspections are sent to the clerks in the Policy Division (a part of the Audit Division), and the medical examinations are handed to other clerks. The doctors' reports of inspections and examinations are examined, and if there are any facts contained in a report that the clerk has no authority to pass she refers the application to the Medical Examiners at this office, who either pass, hold for correspondence or reject. Applications that are finally passed are then divided up among the clerks, who check them as to age, premium, amount, insurable interest, first insurance or addi- tional insurance, etc. Any dis- crepancies discovered by these clerks are either rectified or the applications are handed to the head of the Policy Division for correspondence. The applications for second insurance are passed The Numbering Room to other clerks, who obtain from the Filing Section the applications for previous insurance. The two applications are then compared and checked. Applications that have finally passed the checking clerks are then collected by districts, those for each district being then arranged according to assistants, each assistant's applications being alphabetically arranged according to the 37 agents. They are then sent to the numbering room, where they are numbered and dated by machinery, and returned to the Policy Division, where they are handed to the proper clerks, who from the applications write the official lists and policies. After all the lists and policies have been written, the applications and policies are carefully compared. The issue is then ready to be sent out. The applications are then sent to the Actuarial Division, where a separate card is pre- pared for each policy. As soon as this is done the applications are sent to the Filing Division, where they are filed in numerical order. The Examining Section of the Audit Division has a force of twentv-eight clerks engaged in the Examining Section of the Audit Division auditing of final accounts and the examination of collection books. The computations of arrears and advance payments and all additions on final inspections are carefully verified, all errors corrected and the result certified to the corresponding Audit Sections, that necessary action of release or demand be taken on the agent's bond. This section also arranges for the supply to agents on requisition of new collection books, and by a simple but complete card index, sees to it that the old collection book is promptly returned when the new book is completed. A discriminating selection of these old collection books is made by which several hundred of them are thoroughly examined each month, followed by such letters of criticism or commendation as may be found advisable. The collection books of all agents promoted to assistants are called for and examined, as well as, from time to time, the collection books of active agents. There are on file in this section at the present time over twenty thousand old collection books, containing a record of the details of the collection of over $80,000,000. Considerable work of a statistical nature is done in this section. 38 There are located hen: eetitage of collections issue per month |>er nu machines can places of i1tvii!».-H'- iting machines for computing per- *e to allotment, average Ordinary jmr iaw ?m the field force called The Intelligencer, classifications im the oouaHry at large being prepared therein. Agent* collection books are called for by this section without previous notice to the agents, and are given a thorough examination. The amount collected each week is checked page by page with the summary of the agent's account and all differences noted. The date of last payment on each policy is ascertained by computing the amount collected from the last known ''date of last payment," as shown either by the date given at the time the collection book was opened or in the inspection book forwarded with the last inspection report. Similar check t* made with the last inspection report rendered by the assistant '-adctit. : ii« 4t WW^i^iW*^^ fift^w&iness lapsed m tram in which all the tto are prepared. Thv almost impossible th< cannot be readily ai this division, most ■ which it h:is been fn There are located here several calculating machines for computing per- centage of collections, ratios of increase to allotment, average Ordinary issue per month per man, etc. A single clerk by the aid of one of these machines can complete fifty of these ratios correct to four or more places of decimals in twelve minutes with practically no effort, all the operations of multiplication and division being done automatically by the turning of a crank after the original figures have been correctly set up thereon. This section also assists in the preparation of lists for the company's publication for the field force called The Intelligencer, classifications for the country at large being prepared therein. Agents' collection books are called for by this section without previous notice to the agents, and are given a thorough examination. The amount collected each week is checked page by page with the summary of the agent's account and all differences noted. The date of last payment on each policy is ascertained by computing the amount collected from the last known "date of last payment," as shown either by the date given at the time the collection book was opened or in the inspection book forwarded with the last inspection report. Similar check is made with the last inspection report rendered by the assistant superintendent. The date of last payment on business lapsed or trans- ferred is also compared with the collection book and complete report of all differences and errors forwarded to the superintendent. Artuaxial itmsimt The tenth floor is occupied by the Actuarial Division — the division in which all the statistics so constantly needed regarding the business are prepared. The classifications of the business are so varied it is almost impossible that any question which might pertinently be asked, cannot be readily answered. More than 290 clerks are employed in this division, most of whom do little else than handle the cards on which it has been found necessary to record the details of the policies instead of making the entries in books. The work of the division is divided into two sections — Actuarial proper and Card Section. The Actuarial Section is subdivided into Industrial, Ordinary and Intermediate and is composed only of men, and on them devolves the labor 39 of collecting the data obtained from the Card Division. A valuation of the reserve liability under all the policies in force in the Industrial, Ordinary, Intermediate and Special Class is made each quarter, necessitating many thousand distinct calculations, nearly the whole of which are made mechanically on the thirty-eight calculating machines in use in this section. These machines are great labor-savers, relieving the brain of the monotony attending repeated operations of multiplication and division, saving time and insuring accuracy. All the difficult classifications necessary to be made, that the requirements of the Insurance Departments of the forty states where the company does business may be met, are also kept here. The Card Division is divided into Issue, Record No. 1, Record No. 2, Classification, Transfer, Claim, Ordinary and Dividend. The Issue Section receives the applications on which policies have been issued from the Audit Division each week, and a card is picked out representing each policy from cabinets which contain printed cards for every form of policy issued, at every age, every premium, every amount of insurance, and for both white and colored lives and both sexes. These cards are then carefully compared and sent to the Numbering Room, where the number and date of policy and the district are stamped thereon, completing the data needed for the many classifications. They are then again compared, classified, counted and finally arranged in numerical order by districts and sent to the Record Section, where they are filed in combination card desks. During the year 1907 it required 1,516,112 cards for the Industrial issue, which, in order to make the various classifications and put same in order for filing, required that these cards be handled thirty times, or the equivalent of 45,483,360 cards handled once. Schedules containing the various classifications of the week's issue are sent from this section each week to the Actuarial Section, where the particulars are entered on the books. On the Record Section devolves the task of keeping by districts the cards representing the policies in force. The cards are filed in a com- bination desk and card cabinet, and to each clerk is assigned a certain number of districts. This section receives each week from the Audit Division duplicates of all revived, lapsed and transfer schedules sent to agents, that the proper cards may be taken from the district cabinet for the purpose of cancelation or transfer to other districts. These cards 40 are classified by years of issue kinds of policies, and each dislrirt ot^efced with schedules received from the Audit Division. insurance in fan* in ihe OmM*|M4wi Slnctinn tbt- handbag of cards new or consolidating old districts, or where all the agencies are transferred from one district to another. The correctness of the recorded business of each district is tested as often as necessary by comparing the cards with the life registers. In addition to the above, paid-up, lien and extended insurance cards are kept in this section, besides any additional or extra work that has to be done. During the year 1907 this section handled nearly the equivalent of 37,000,000 cards. i'lic Claim Section each day receives from the Claim Division the papers connected with the claims paid the previous day. A card is written for each claim, and from these cards numerous classifications are made to determme tQ lMNndlli*ntoi( ,tiNefeoth Ordinary and Intermediate, which wa- formerly done by hand . is now done on the typewriter by a svsteai : il with the company. By one operatMR. the premium receipt, the notice and the stub for the use of the Branch Office are written, as well m the address on the envelope in which the NOticr is to be mailed. Later, this part of the work • - "» iu done on a piece-work Thkksti bash instead of a». n stated salary. The result ba« '**n most satis* u torv , the employes have been better \ ki business has beta rewarded, and the company lias done ii rwt than under the aU method. The vast number of prer $1,000 in the Ordinary Department, but who were able to pay for $500 on some better plan than weekly premiums, and against whom the doors of Ordinary insurance protection had been closed. The field was a new one, and the rates charged, so far as based on mortality, problematical. Therefore, to avoid overcharging a clientage which it was designed to benefit, it was agreed that the savings in mortality should be used for paying dividends. After ten years' experience special mortality tables were possible, and on January 1, 1907, all policies were made non-participating, the premium rates based upon the new tables being much reduced. The Branch was the pioneer in $500 insurance, and its name, " Intermediate, " has been adopted by other companies which have entered the field for business of the $500 grade. In ten years, as a dividend payer, it established the world's record — paying higher dividends than any dividend-paying company. In business methods it was forced to take the initiative and adopt systems whereby Ordinary business could be conducted along lines in keeping with an Industrial volume. The $1,000 Ordinary conserva- tism was combined with the Industrial liberality, and in the resulting Intermediate methods conventional red tape gave way to the blue of the typewriter ribbon, and its easy and improved machine-like methods. The writing of the premium receipts and notices to policy-holders, in both Ordinary and Intermediate, which was formerly done by hand, is now done on the typewriter by a system original with the company. By one operation, the premium receipt, the notice and the stub for the use of the Branch Office are written, as well as the address on the envelope in which the notice is to be mailed. Later, this part of the work has been done on a piece-work The Entire Clerical Force of the Intermediate basis instead of at a stated salary. The result has been most satisfactory, the employes have been better paid, diligence in business has been rewarded, and the company has done it all at a less cost than under the old method. The vast number of premium receipts sent out for collection, called for a new and easier method, and instead 49 of the old system of charging by hand, billing to the District Office also by hand, both are now done in one operation on the typewriter, making it absolutely impossible to bill a premium receipt to a Branch Office without charging it, as the one is a carbon copy of the other. Another benefit to the company and the Branch Offices as well has been the new renewal card. For each policy issued, a card with dupli- cate is written : one for the Home Office and one for District Office. By this, the District Offices are all supplied with the same system, all cards written in plain type and exact duplicates of the Home Office records. As in the Industrial Depart- ment, the work both in Ordinary and Intermediate is divided into Sections and Divisions — Applica- tion, Index, Policy, Inspection, Audit, Renewal, Cancelation, Loan, Correspondence. One of the important functions of the last-named division, and in line with the announcement elsewhere herein, " that the Metropolitan would never have a policy lapse if it could prevent it," is the addressing to the policy-holder on the lapse of his insurance of a letter, over the signature of the President, inquiring as to the reasons for giving up the insurance and urging him to revive. About $10,000,000 of insurance is revived annually this way. Through the polite solicitude of this Department, many a dissatisfied policy-holder, nursing imaginary grievances, is transformed into a loyal supporter of the company. This division furthers one of the great aims of the company — that of not only retaining its policy-holders, but of keeping them thoroughly satisfied. Ifntrrmritiat? Urattrij of tlx? (irohtani Srjmrtmrttt Industrial insurance, by reason of the necessity of weekly collections at the homes of the insured, is expensive. Yet among the working classes there are many willing to pay premiums less frequently if they 50 can get insurance in smaller amounts than are common with Ordinary companies. This caused the officers to give serious consideration to the question whether a considerable portion of the population not reached in canvassing either for Ordinary applications (where the minimum amount insured is SI, 000 and the minimum premium S10) or in the Industrial Department, where the premiums are payable weekly, might not be reached bv a form of insurance intermediate between the Ordinary and Industrial. The two important elements which entered into the discussion of the question were mortality and expense. The experience of the company justified the assumption that the rate of mortality likely to prevail among the intermediate class of risks would be higher than among the insured in the Ordinary Department. At any rate it was not deemed wise to adopt rates based on the rate of mortality prevailing among what are generally designated as "Selected Lives"; and therefore the net premium was based on the Industrial table of mortality. With these considerations governing the groundwork of the scheme, tables of rates were adopted in July, 1896, with practically the same loading for expenses as that used in the Ordinary Department of the company, on different forms of whole life and endowment policies for S500 only. The experience on the lives of persons insured under these Intermediate policies was kept separate, and from the surplus accruing dividends have been paid at the end of five years and annually thereafter. It is evident that this plan of insurance supplied a public want, from the fact that at the end of 1906 there were 315,308 Intermediate policies in force (including paid-up policies), insuring SI 55,0 14,3 12 and representing an annual premium of 57,860,364.56. It may be surmised how well the company was able to do for policy- holders in this Branch from the dividends paid as shown in the following table : 1901 $10,236.92 1905 $368,219.02 1902 65,026.30 1906 598,279.16 1903 121,555.45 1907 834,902.37 1904 218,528.65 During the year 1906 a law was passed in the state of New York prohibiting companies from writing both participating and non-partici- pating insurance after that year. As about ninety per cent, of the 51 business of the Metropolitan was non-participating, and the field force had been thoroughly imbued with the soundness of the company's policy which had brought about this record, it was decided henceforth to write non-participating insurance only. For this purpose a new mortality table was prepared from the company's actual experience on lives in the Intermediate Branch and premiums computed thereon, with the addition of a small loading for expenses and contingencies. All policies issued through this Branch since January 1, 1907, are non-par- ticipating. In 1907 about $51,500,000 of paid-for business was written and revived in this Branch — a larger amount than ever before. ^pmal (Class Ukatirij of tlje (Miliary Sr-partmettt This class was inaugurated in 1899 for the purpose of saving to the agents and the company business on lives which could not be accepted as standard risks. The subject was not new and had been given careful consideration for years. There were various plans in operation, both in this and other countries, for handling such risks. The two most prominent of these plans were: First. — Rating up the age of the insured. Second. — Placing the insured in a class by themselves for the period of twenty years, the surplus, if any, derived from that class to be distributed at the end of that time; and in some cases liens were attached against the insurance. These plans, however, require the placing of each individual risk in some particular class — either to determine how many years should be added to the actual age, or the amount of lien that would be supposed to be an adequate measure of deterioration of the risk. This company decided to adopt another and distinctive plan and to transact the business along the same lines that Ordinary life insurance is transacted, namely, on the broad lines of general averages; and that the same premiums and the same conditions should be imposed on those who should be accepted without attempting particularly to differentiate between the real or assumed degrees of hazard. To accomplish this result it was necessary to base the premiums on a table of mortality which showed a sufficiently high death rate, to avoid the possibility of failure, with the proviso that, should any profit arise by reason of the rate of 52 mortality being lower than that assumed or from other causes, a dividend could be declared to existing policy-holders. A mortality table expressing a death rate equal to double that shown in the Actuaries' table up to age sixty, and from that point gradually merging into the Actuaries' table itself, it was thought would meet the requirements, and premiums were computed on that basis with a low percentage of loading added for expenses. The company agreed to keep a separate account of these policies and from the surplus earned, if any, to pay a dividend at the end of five years, at the end of ten years, and annually thereafter. These premiums were computed on the basis of $1,000 of insurance, and of course were higher than the Ordinary rates, particularly on all forms of life policies. The object, however, was not to charge the increased rates per $1,000 of insurance, but to adapt the amount of insurance to the published rates for standard risks, and so the rule of proportion was invoked to ascertain the amount of insurance that could be given for the regular published rates at all ages and all kinds of insurance. If the amount of insurance which the regular rate per $1,000 of insurance would purchase on the basis of this new table was $700, then the nominal amount of insurance was made $1,000 with a lien of $300, and this lien of $300 was to be reduced by the application of surplus as stated above. This reduction of the lien simply means that the amount of insurance is increased over the original $700. The American table of mortality doubled was substituted for the Actuaries' table of mortality doubled at the time New York State adopted the American table of mortality, and three and one-half per cent, interest, as a standard for valuation. The experience of the company on this business has been very interesting, instructive and satisfactory. When by reason of the new insurance law in New York State the company decided to go on a non-participating basis exclusively, it was thought that the experience of the company on these lives furnished sufficient data to construct a new table of mortality, which would serve as the basis of new calculations for premiums on non-participating policies. This was done, and it is a cause for congratulation that the experience on these policies issued during the year 1907 has been satisfactory in every way. The number of policies issued was much larger than in any preceding year, and the ratio of Not Taken policies was only about one-half that experienced under the old system. This 53 seems to indicate that there is a repugnance in the public mind against having a lien charged against the insurance. Under the new non-participating plan the policies are not issued for a nominal sum of $1,000 carrying the amount of insurance which the regular premium for a standard risk would purchase, but $1,000 is the actual unit of insurance. The premiums are published and risks taken on that basis. ileiitral Stutaum In this division the permanent force comprises forty-nine clerks, which number is increased to seventy-five by draft on the Audit Division on Mondays and Tuesdays. In the Industrial Department policies are issued but once a week, namely, on Thursday, and the efforts of the division are directed to the promptest possible examination of Industrial applications, so that the policies may be in the agents' hands for delivery by the following Monday. Applications for insurance in the Ordinary Department and Intermediate Branch receive daily consideration, and the number of cases handled is very large. Nine physicians on the staff are in constant attendance, examining applicants and applications, passing death claims and supervising the important work of the division. The correspondence regarding the appointment, discipline and the retirement of medical examiners is also conducted in the Medical Division, and the records and accounts of nearly five thousand examiners are cared for. With each despatch of Industrial applications from the field, and with every application in the Ordinary Department and Intermediate Branch, a voucher is sent to the Home Office calling for the proper fees, which is audited and credited to the examiners in the ledgers, and checks for the total amount of credit are sent to each examiner once in three months. There is provided in this division a retiring room to which are brought clerks from all parts of the building who may be in need of medical service, and such care and attention as the Home Office force requires is here rendered. A well-equipped laboratory for urinary analysis is located on the tenth floor, for such cases as in the judgment of the field examiner or the Home Office require this test. The examination is chemical and microscopical, and has proven its value as an aid to 54 the careful and sen made annually. ction of risks. Twelve th<»u are Thi renntt: SUDCfil $hr arrasurrr'a Dtutsunt of fifty-one clerks, receives a •nts due District Offices for s tendents and agents, and all >remiums. This were mty-six check books, eight and three ledge :ord • them in collecting regular weekh hiMii ded into eight territorial sections, coi Audit Divisions. Each section has a cashier, ac The total cash receipts handled by It necessitates thirteen cash books, t\ salary blotters, sixteen account blotters these transactions. The approximate number of checks, drafts, money orders and postal notes deposited in the banks for collection during 1907 was 127,472; the approximate number of checks drawn for 1907 was^&O&V,^ During 1907 a total of 129.087 death claims were paid fees for medical exunnn These checks are sent to the examiners quarterly, and aggre- gate 14,x files, the correspondence first being noted on the tompuny s Ixioks in such a manner that it can readily be located at This led, of course, to the discarding of an invention formerly used in the Mail Division— the electric dryer. When letters were copied, it was necessary to dry them before they were put in envelopes, to pre- vent their spoiling other mail matter, and copy books — of which 3,000 jxiges were used every two days — were dried in the heater, in order thai the pffl should not mildew. While there may itntiwiQk^\/fc(Mjjy misgivings at the time the practice of copying letters in a copy book was discontinued, several years" experience has shown the wisdom of the change, no case being recorded where carbon copies of Home Office letters have not been available. Another departure from old-fashioned methods which the company was obliged to take a few years ago was the destruction ol correspondence. Up to the year 1900 every letter received at the Home Office was placed in the files; the result was such an accumulation that the company could not provide the space necessary for the filing. Many hundred employes were set at work reading the accumulated correspondence, with instructions to destroy all unimportant letters. Under this plan over 1,000,000 letters were consigned to the waste-basket. Heads of all divisions are "at the pn*sent time given authority to discriminate as to whether expedite the work, superintendents are furnished with enclosure envelopes, on which a lead-pencil cross or check will designate the subdivision for which the enclosure is intended. Envelopes not bearing any special designation are opened in the division, the contents rapidly scanned, and deposited in the proper basket. There are in this division four hydraulic presses on which letters were formerly copied. The company gave up, however, several years ago, the practice of making letter-press copies of correspondence; carbon copies of all correspondence are now made on the typewriter, fastened in chronological order to other correspondence on the same subject and then filed in box files, the correspondence first being noted on the company's books in such a manner that it can readily be located at any future time. This led, of course, to the discarding of an invention formerly used in the Mail Division — the electric dryer. When letters were copied, it was necessary to dry them before they were put in envelopes, to pre- vent their spoiling other mail matter, and copy books — of which 3,000 pages were used every two days — were dried in the heater, in order that the pages should not mildew. While there may have been some misgivings at the time the practice of copying letters in a copy book was discontinued, several years' experience has shown the wisdom of the change, no case being recorded where carbon copies of Home Office letters have not been available. Another departure from old-fashioned methods which the company was obliged to take a few years ago was the destruction of correspondence. Up to the year 1900 every letter received at the Home Office was placed in the files; the result was such an accumulation that the company could not provide the space necessary for the filing. Many hundred employes were set at work reading the accumulated correspondence, with instructions to destroy all unimportant letters. Under this plan over 1,000,000 letters were consigned to the waste-basket. Heads of all divisions are at the present time given authority to discriminate as to whether letters shall be filed or destroyed. Between six and seven thousand envelopes leave the Mail Room daily, enclosing probably five times that number of special communications. 69 Opening from the Mail Room is the entrance to one of the small freight elevators running continually during business hours, and used solely for carrying mail and printed matter between the different divisions. In addition to this, there is a special messenger service in operation, making half-hour trips to all sections and divisions of the building, for the collection and distribution of mail matter. iFtltttg Ji>?rttmt All the applications for insurance, correspondence, claim papers and books of record connected with the Industrial Department are filed here, as well as claim papers of the Ordinary Department. This section has a card index of all the agents at any time in the company's service, which contains over 260,000 cards, and another card index of every city, town and village in which one of its agents does busi- ness. All the applications for Industrial insurance are sent to the numbering room in this section to be numbered consecutively by machine after having been passed by the medical examiners, and are then sent to the different Policy Divisions where the policies are written. The applications are finally sent to this section again to be placed on file, arranged in numerical order. The number at present in the files exceeds 32,000,000, any one of which can be obtained at a moment's notice by furnishing the policy number. The clerks in this section take from the filing boxes for changes of various kinds about 75,000 applications per week, and refile them again, in addition to filing those for the new policies — handling, therefore, nearly 200,000 applications per week. All the ledgers in which accounts of the agents have been kept, are here on file and number about 1,500. These being too bulky to send around the building, clerks are kept in this division to furnish particulars from the books regarding the records of former agents. There are also arranged in numerical order papers and documents of various kinds, including millions of receipts for dividends paid to policy-holders, and paid checks, any one of which can be produced at short notice upon receipt of a requisition. Here also are on file books containing the record of every policy that at any time appeared in force in any agent's account, since the company first entered the field of Industrial insurance. The volumes, 70 M .i-^woY ( *mtw& v^wtivj^ ./.ivtcmft l>\0 \u\ ^nUmE Building for Old Records, Palmer Avenue, Yonkers, N. Y. which arc 12x18 incho in size and of .500 pages each mow number nearly 34.000, arranged in order by weeks and years and numbeml consecutively. By means ol this system the clerks in the Traetiu lion (thirtv- four in number) can ln« ate the agency in which any jx>licy i | «l present in force, or where «hm. for what reason and in which of tlir agents' accounts a jx»hcy appeared when* canceled. Through thi- i 1 ••<> the compooy htut often succeeded in locating a missing rebttivc or friend of <*><• af it* policy-holders. To properlv handle and care for these documents and books. I . fMMMB «rr employed. Employes from other divisions are not allowed in th* l : ilu.^ S ec t io n. Wfftten requisition musl be made for anj pai>ci or ll|p ^trnograpbir Itaraut at number of Industrial policies on the company's books i vast amount of correspondence, to promptly handle if the services of over 200 stenographers. Seventy-five d among the Executive and some of the larger divisions, which arc 12x18 inches in size and of 500 pages each, now number nearly 34.000, arranged in order by weeks and years and numbered consecutively. By means of this system the clerks in the Tracing Section (thirty- four in number) can locate the agency in which any policy is at present in force, or where, when, for what reason and in which of the agents' accounts a policy appeared when canceled. Through this system also the company has often succeeded in locating a missing relative or friend of one of its policy-holders. To properly handle and care for these documents and books, 125 persons are employed. Employes from other divisions are not allowed in the Filing Section. Written requisition must be made for any paper or book desired, which is charged to the clerk and credited when returned. Steel cases are used exclu- sively for filing, most of which are subdivided for small boxes made to fit the articles to be filed. For applications alone there are 75,000 such boxes. Owing to the rapid accumu- lation of books and papers and the absorption of all the available space in the Home Office building, the company erected in 1907 a storage house for the overflow. This building, on Palmer Avenue in Yonkers, X. Y., has a floor area of over 20,000 square feet and will provide for storage needs for many years. The total space occupied by the company for filing alone exceeds 50,000 square feet, and its steel filing plant is the largest in the world. dltr S>tpnnnrapinr lOuraut The great number of Industrial policies on the company's books necessitates a vast amount of correspondence, to promptly handle which requires the services of over 200 stenographers. Seventy-live are distributed among the Executive and some of the larger divisions, but 125 are in the Stenographic Bureau. A clerk desiring to dictate Agents' Policy Records in Piling Section Contained in 34,000 Volumes 71 applies to the head of the bureau by telephone or eleetrie annunciator and a stenographer is at once sent, returning to the bureau to transcribe the letters, which are later distributed by messenger for signatures. Two telephone booths are available for telegrams or short communications which would not warrant the visit of the stenographer to the office of the sender. Twenty-five phonographs are used for dictation in different divisions and the letters are transcribed in this bureau. Experience has shown that more efficient service is secured at less expense by grouping the stenographers. Where individual stenographers are allotted to a clerk or division it is impossible to so regulate the corre- spondence that at times there will not be a dearth of work and at others more than can be promptly handled. Again, a stenographer continually taking dictation from one person or in one division cannot compare in general efficiency with one who comes in contact with many persons and with the work of many divisions. ^ttpnlg Shrisimt The Supply Division is situated in the basement, occupying an area of 10,000 square feet. The rows of shelves with piles of paper of all sizes and hues, the stack of boxes containing envelopes, the cupboards and drawers, are simply bewildering in variety and extent, yet every one of the over 3,000 forms stored here is needed for the transaction of the business, and each must be carefully watched, so that there be no time when an unusual demand shall find the stock exhausted. Supplies are shipped from this division direct to 884 Branch Offices. The number of packages leaving this division each year by express is almost 30,000, the cost to company for express charges alone being about $20,000. Twenty-four thousand pounds of wrapping-paper and 2,700 balls fan Supply Division of twine are used here in a year. 72 ©Ije |!urri|asutg Arjput's Stirisum The title clearly indicates the province of the Purchasing Agent's Division. All orders for printing, stationery, furniture, etc., pass through here. Elaborate account is kept from which can readily be determined the quantity of each article pur- chased, the number of each form printed, when, at what cost, and what became of them. Every agency office is charged on the books here with the cost of every article and form sent to it. If indication is given of extrava- gance, an explanation is at once called for. To give some idea of the volume of the work of this department, there were ordered for the United States and Canada during the past year 111,530,000 The Purchasing Agent's Division forms, booklets, folders, calendars, etc., consuming several hundred tons of paper of grades costing from two cents to thirty-five cents per pound; envelopes of various sizes, 10,850,000; in addition to these 1,000,000 government stamped envelopes were bought. There were purchased 450,000 blotters, 883 quarts of ink, 600 quarts of mucilage, 3,500,000 rubber bands, 200,000 pens, 5,000 penholders, 100,000 lead-pencils, 3,500 typewriter ribbons, 370,000 sheets of carbon paper, 1,000 rulers, 5,000,000 souvenir post-cards, 5,500,000 calendars and numberless other supplies in like quantity. Another duty devolving upon the department is the keeping of an accurate record of all office furniture and fixtures in the one thousand Branch Offices of the company. In order that these records shall be up to date, an inventory is called for from every district annually; every item thereon is checked and any shortage or discrepancy immediately investigated. During the past year there were shipped to the various offices 22,040,420 copies of The Metropolitan, a bi-monthly paper issued by 73 the company, comprising thirty-three editions. Of the above, 1,062,000 papers were delivered in the Dominion of Canada. Editions of this paper are issued in the English, German, French, Polish, Italian, Swedish, Bohemian, Hungarian, Dutch and Danish languages. Srlrnluinr iRnom This is a complete central telephone office on a small scale. The switchboard has 972 drops, requiring four operators, and sixteen trunk lines connect with the nearest central station. The head of every division, and many of the subordinate clerks, have indi- vidual telephones, in addition to which there are several general phones in each division. The daily calls average over 2,500. fhmmtattr (lube Station This is the centre for receiv- ing and delivering the thousands of messages that are sent between the different departments and divisions of the company in the Home Office. There are sixty-one pneu- matic tubes in operation. They have a combined length of over a mile. One extends under East Twenty-fourth Street into the Metropolitan Annex. The motive power for their transmission is compressed air under a pressure of four and one- half pounds to the square inch. About 5,000 messages pass through the tubes every day. The Telephone Room The Pneumatic Ti he .Station 74 tMtooW Amu A m\\ \o awO Slir Cutirb unit iRrrrratum Unmns The Lunch Rooms, whU h are located on the eleventh and twelfth floors of the Twenty fourth Street side of the Imilding. are for the exclusive accommodate*) of the clerks employed by tht company. . ■ there are Lunch Room? for division heads and for the executive oncers. space el time. Ihr most modern equipments for kitchen, bake shop, serving pantriea, etc.. have been adopted. The kitchen, situated on the roof, is spacious, well ventilated and provided with everything that is modern for cooking purposes. The Gymnasium, for the use of the employes, is fitted with all the latest appliances in the gymnastic line. A physical instructor attends each afternoon to coach the clerks. One day in the week the Gymnasium is reserved for the women clerks. The employes are also allowed the use of a ijortion of the roof for recreation. The AmhM) Hall, with a seating capacity of over 1,000 is used for ^inventions of the n^totyw^vvAn^^ the tenants of the Home It is used daily as a recreation room by the women ek-rks. UaHrmrnt ^rru frnm (gHiftrrnatuin (fcaUrrrj lighting, carpentry, plumbing, painting and masonry, all in the hands of competent mechanics who devote their entire time to the Metropolitan. From the arcade a short flight brings visitors to the Observation Gallery, a platform entirely surrounded by plate glass, permitting a fair view of the main Kngine Room, with its working units; but it requires a survey of the other ix>rtions to form a proper conception of the plant in the aggregate. The Boiler Room, with its generators of 3,000 horse-power capacity, eml*>dics the latest practice in the selection of type, each unit being equipped with superheaters of the individual class. Furnace management receives attention by a continuous record of analysis of the line gases, each observation being recorded on a chart (Eltp Sitnrij ann iRrrrratimt Snouts The Lunch Rooms, which are located on the eleventh and twelfth floors of the Twenty-fourth Street side of the building, are for the exclusive accommodation of the clerks employed by the company. The seating capacity of the Lunch Rooms is about 1,500, and a noon lunch is served to 2,600 clerks, 1,500 of whom are women. In addition there are Lunch Rooms for division heads and for the executive officers. In order to handle such a large number of people in a limited space of time, the most modern equipments for kitchen, bake-shop, serving pantries, etc., have been adopted. The kitchen, situated on the roof, is spacious, well ventilated and provided with everything that is modern for cooking purposes. The Gymnasium, for the use of the employes, is fitted with all the latest appliances in the gymnastic line. A physical instructor attends each afternoon to coach the clerks. One day in the week the Gymnasium is reserved for the women clerks. The employes are also allowed the use of a portion of the roof for recreation. The Assembly Hall, with a seating capacity of over 1,000, is used for conventions of the field force. Any of the tenants of the Home Office building are also allowed to use the hall for business meetings. It is used daily as a recreation room by the women clerks. IBaBfmntf Btm from (itertiattmt (Sallrrg In the basement is the mechanical end of the business — heating, lighting, carpentry, plumbing, painting and masonry, all in the hands of competent mechanics who devote their entire time to the Metropolitan. From the arcade a short flight brings visitors to the Observation Gallery, a platform entirely surrounded by plate glass, permitting a fair view of the main Engine Room, with its working units; but it requires a survey of the other portions to form a proper conception of the plant in the aggregate. The Boiler Room, with its generators of 3,000 horse-power capacity, embodies the latest practice in the selection of type, each unit being equipped with superheaters of the individual class. Furnace management receives attention by a continuous record of analysis of the flue gases, each observation being recorded on a chart 75 The Boiler Room in plain view of the stokers, showing at all times the measure of efficienc y of the fuel in its process of generating steam for the entire plant. Daily records are kept of all the composite features connected with the various services and the power demanded for each. The plant, in its administrative workings, has kept pace with the recognized methods of recording amounts, data and all necessary informa- tion pertaining to a department of this class and magnitude. The workings of the entire plant are graphically shown on a large board, with colored lines to distinguish each individual service. The character, extent and daily power output, together with its relation to the coal pile, is interestingly shown. The illustration of the main Engine Room conveys some idea of the symmetrical features of the plant. The power required for the buildings embraces the handling of enormous elevator traffic, lighting, heating, ventilating, refrigerating, pneu- matic and other services; also the operating of the tubular de- spatch of the United States mail, to and from the General Post Office and distributing stations in various parts of the city. Among features command- ing interest are the gigantic pumps, delivering a water sup- ply at a working pressure of 800 pounds per square inch, for the operation of the elevator machines. The character of this Hoard tN Chief Engineer S Room with Daily Record of Each Individual, Service particular service, together with 76 their gross weight of reflect the varying the make-up of its parts to sustain the working pressure, offers an excellent example of progressive engineering, being an interesting field to the student and professional in its application to the moving parts. The accumulators, ascending and descending with 760 tons, amount of traffic of the several groups of elevators connected to the svstem. Drinking water for the employes is cooled here arti- ficially by hydrous ammonia, and then pumped to all the different rooms in the buildinsr, there being neat silver faucets with marble shelves in all the divisions, the system saving the handling: of ice and the carrving- of water for filling tanks. The Engine Room ?Jar *JJfHK lfcKropolitan commenced business on the Pacific Coast in 1901. I |L R*ah*«ng the difficulties attending the trunsacnon <>f business with policy-holders and agents more than three thousand miles away, a fully equipped branch Home Office, in charge of an executive officer, was established at San Francisco. Tins office, as we believe, is the only one of its kind maintained by a life insurance company in the world. Through it all the company's business west of the Rocky Mountains is handled without reference to the Home Office in New York. The plan of operating a separate and local executive office to serve a distant community has proven a great success. The business on the Pacific Coast has grown so rapidly, that during 1907 the business handled by the Pacific Coast Head Office exceeded in volume that of two-thirds of thfe^Y^^.^-iVM^ fctiH/ .V^'S^tt ^.rv^) ^nJtt ffi«t> located in another jwirt of the city and containing duplicates of many of the records. The history of the life insurance business does not afford another example of complete destruction of an executive office; but the undaunted spirit of the people of San Francisco in the face of the great calamity is well illustrated in the action of the companv s representatives. Within seventy-two hours after the earth- quake and U-fore the fire had ceased burning, the largest floor space left intact in the iiv had been leased for two vears and the Pacific Coast The Pacific Coast Head Office, San Francisco, California f artftr (test Ifeaii (§ffit? ^^rHE Metropolitan commenced business on the Pacific Coast in 1901. I J V Realizing the difficulties attending the transaction of business with policy-holders and agents more than three thousand miles away, a fully equipped branch Home Office, in charge of an executive officer, was established at San Francisco. This office, as we believe, is the only one of its kind maintained by a life insurance company in the world. Through it all the company's business west of the Rocky Mountains is handled without reference to the Home Office in New York. The plan of operating a separate and local executive office to serve a distant community has proven a great success. The business on the Pacific Coast has grown so rapidly, that during 1907 the business handled by the Pacific Coast Head Office exceeded in volume that of two-thirds of the life insurance companies doing business in the United States; its Industrial premium income is exceeded by only four Industrial insurance companies besides the Metropolitan. In April, 1906, the disaster which overwhelmed San Francisco completely destroyed the Pacific Coast Head Office with practically all its large accumulation of original records. The loss appeared to be irreparable, especially when taken in connection with the destruction also of the District Office located in another part of the city and containing duplicates of many of the records. The history of the life insurance business does not afford another example of complete destruction of an executive office; but the undaunted spirit of the people of San Francisco in the face of the great calamity is well illustrated in the action of the company's representatives. Within seventy-two hours after the earth- quake and before the fire had ceased burning, the largest floor space left intact in the city had been leased for two years and the Pacific Coast Head Office was opened for business. Telegraphic communication with New York was opened up on the eighth day, and on the following day two special express cars left New York loaded with equipment. On the eighth day, also, payment of death claims was begun, with money secured by 79 messenger from Los Angeles. On the fourteenth day the new equipment arrived from New York and the office resumed, as nearly as possible, ils customary course of business. The destruction of the Pacific Coast Head Office, with its mass of invaluable records, brought sharply to the attention of the company the necessity of possessing in San Francisco a fireproof home of its own, through which protection from future loss might be had. It was therefore decided, in 1907, to erect a building for the sole use of the Head Office. This building is located at the northeast corner of Pine and Stockton Streets, on a lot 137 ^ feet square, having two main floors and a basement, eighty feet square, and is surrounded by terraced parking. The style is severely classic, consisting of six columns in antis of the Ionic order on each of the four fronts, extending through two stories. The main entrance on Stockton Street is reached by a broad flight of steps. The plot is a characteristic hilltop of the neighborhood, commanding an extended view of the city and bay. Taken together with the classical Greek architecture of the building, it has been aptly compared with the Acropolis. The building is planned to meet the future growth of the company as well as present needs. It is of the highest type of fire and earthquake proof construction, and not only a permanent land- mark in the city, but undoubtedly one of the most beautiful buildings on the western side of the continent. ©fitrpfi in (®tt\n (Eittra In addition to the Home Office building, the Pacific Coast Head Office, the Metropolitan Annex and the storage house already referred to, the company owns buildings, in which its Branch Offices are located, in Minneapolis, Chicago, St. Louis, Washington, Boston, Baltimore, Cleveland, Burlington, Vt., and in Ottawa and Quebec, Canada. so ji>prattmt Klines INDUSTRIAL ORDINARY INTERMEDIATE INDUSTRIAL RATES ARE BASED LirON THE COMPANY'S OWN MORTALITY EXPERIENCE WITH AN EXPOSURE OF 48,508,562 YEARS OF LIFE. INTERMEDIATE RATES ARE ALSO BASED ON THE COMPANY'S EXPERIENCE, WITH AN EXPOSURE OF 819,833 YEARS OF LIFE. EXPERIENCES IN BOTH DEPARTMENTS ADOPTED AS .STANDARDS FOR VALUATION OF INDUSTRIAL AND INTERMEDIATE POLICIES BY THE STATE OF NEW YORK Metropolitan! JvIew York City. jfftl ^TOtt0tD£ TflttOtt of the payment of the premium mentioned in the schedule below , on on before each ^ttondat,, Dotb |>erebp agree, sub/ect to the conditions below and on page 2 hereof, each of which is hereby made a part of this contract and con- true ted by the assured to be a part hereof, to pay upon receipt of proofs of the death of the insured made in the manner, to the extent and upon the blanks required herein, and upon surrender of this ^Policy and all ^Receipt SSoohs, the amount stipulated in said schedule. provided, however, that no obligation is assumed by the Company prior to the date hereof, nor unless on said date the insured is alive and in sound health. ^he Company may pay the amount due under this ^Policy to either the beneficiary named below or to the executor or administrator, husband or wife, or any relative by blood or connection by marriage of the insured, or to any other person appearing to said Company to be equitably entitled to the same by reason of having incurred expense on behalf of the insured, or for his or her burial; and the production of a receipt signed by either of said persons shall be conclusive evidence that all claims under this ^Policy have been satisfied. ~>Yame of beneficiary and relationship to the insured, Elizabeth Harrison, mother. SCHEDULE ABOVE REFERRED TO. Number of Policy Date Name of the Insured Sample January 1, 1908 James Henry Harrison Age next birthday, Weekly premium Amount of insurance 35 y eara 1 0 cents $122 One-half only of the above sum payable if death occur within six calendar months from date, and the full amount if death occur thereafter. Ill (L'\ * ■i <■lt Ijrrrin rallr-b ttje 3lnaurrb, ousana JJollara Ubs ang tnbrutrbn? aa ljm»nn to tljf Qlompang anb ang unpaib portion of tiff prrminm, for tljr tljrtt rurrent polirg grar upon anrrrnbrr nf tljia $nlirg, properly mrtptrb, tn ^Alanganet 3{ar>niman - wife of the insured tu>nrfiriarj£m, initfr, out— x \$$. of wooration. (Ctjangf of SpttrfiriarjJ. — When the right of revocation has been reserved, or in case of the death of any beneficiary under either a revocable or irrevocable designation, the Insured, if there be no existing assignment of the Policy made as herein provided, may, while the Folicy is in force, designate a new beneficiary with or without reserving right of revocation by filing written notice thereof at the Home Office of the Company, accompanied by the Policy for suitable endorsement thereon. Such change shall take effect upon the endorsement of the same on the Policy by the Company. If any beneficiary shall die before the Insured the interest of such beneficiary shall vest in the Insured. Payment of jlrsnvimitB. — The Company will accept payment of premiums at other times than as stated above, as follows Except as herein provided the payment of a premium or instalment thereof shall not maintain the Policy in force beyond the date when the next premium or instalment thereof is payable. All premiums are payable in advance at said Home Office or to any agent of the Company upon delivery, on or before date due, of a receipt signed by the President, Vice-President, Secretary or Actuary of the Company and countersigned by said agent. A grace of thirty days, subject to an interest charge at the rate of five per centum per annum shall be granted for the payment of every premium after the first year during which time the insurance shall continue in force. If death occur within the days of grace the unpaid portion of the premium for the then current Policy year shall be deducted from the amount payable hereunder. (EDnuittUHB. — The Company shall be released from all liability under this Policy if the Insured shall, within one year from the issue hereof, become engaged in or connected in any manner with the manufacture or sale of ale, wine, beer or liquor, unless written permission from the Secretary of the Company be first obtained. If the Insured within one year from the issue hereof die by his own hand or act. whether sane or insane, the Company shall not be liable for a greater sum than the premiums which have been received on this Policy. Kllrmttf Stability. — This Policy shall be incontestable, except for non-payment of premiums, two years from its date. If the age of the Insured has been misstated, the amount payable hereunder shall be such as the premium paid would have purchased at the correct age. Amount of Insurance Payable Premiums Payable for^i Years Non-Participating at Death or until Prior Death mk mm %m wk mi m II m ill mm %j £3£i mm mi a I & or*) Form 508Ord. •Nntl-llarltripatum. — This Policy is not entitled to participate in the profits or divisible surplus of the Company. loans.— The Company at any time will advance upon the sole security of this Policy at a rate of interest not greater than five per centum per annum, a sum not exceeding the amount specified in the table of loan values herein set forth, deducting therefrom all other indebtedness hereon to the Company. Failure to repay any such advance or interest shall not avoid this Policy unless the total in- debtedness hereon to the Company shall equal or exceed eighty per centum of the net value of the Policy, and thirty days' notice shall have been given by the Company. Amiimtmritt. — No assignment of this Policy shall be binding upon the Company unless it be filed with the Company at its said Home Office. The Company assumes no responsibility as to the validity of any assignment. flPulimtB mt &urrmurr nr ICapae.— After this Policy shall have been in force three full years it may be surrendered by the owner at any time prior to any default or within three months after any default. Thereupon, (1) If there be no indebtedness hereon to the Company, the owner may elect either (a) to continue the insurance in force for its face amount without participation, and without the right to loans; or, (b) to purchase non-participating paid-up life insurance payable at the same time and on the same conditions as this Policy. The periods for which the insurance will be continued and the amounts of paid-up life insurance which will be allowed, are shown in the table of surrender values herein set forth. TABLE OF LOAN AND SURRENDER VALUES. AFTER POLICY HAS BEEN IN FORCE LOAN VALUE PAID-UP LIFE INSURANCE PAID-UP CONTINUED INSURANCE YEARS MONTHS DAYS 3 4 5 6 7 o 0 9 10 11 12 13 14 15 16 17 18 19 20 Years ft 370 ft 1,240 4 2 0 ft 680 ft 1,650 6 8 0 * 810 ft 2,050 9 2 0 * 1,050 ft 2,510 11 6 0 * 1,290 ft 3,020 13 8 0 t 1,540 « 3,530 15 6 0 « 1,800 ft 4,030 17 2 0 « 2,080 ft 4,550 18 7 0 « 2,360 ft 5,060 19 10 0 « 2,650 ft 5,570 20 10 0 ft 2,950 ft 6,070 21 10 0 ft 3,270 ft 6,570 22 9 0 « 3,600 ft 7,070 23 7 0 ft 3,930 ft 7,560 24 6 0 ft 4,280 $ 8,060 25 5 0 ft 4,650 t 8,660 26 7 0 «; 5,050 ft 9,320 28 1 0 ft 6,540 ft 10,000 LIFE Values for later years will be computed on the same basis and be furnished upon request. (2) If there be an indebtedness hereon to the Company, it shall be deducted from the amount which otherwise would be applicable as a surrender value to the purchase of temporary insurance for the period aforesaid, and the owner may elect either to have the remainder applied (a) to continue the insurance in force without participation and without the right to loans for the face amount of this Policy, less the indebtedness, or (b) to purchase a proportionate amount of non-participating paid-up life insurance. If in the event of any default in the payment of premium or otherwise, after the Policy shall have been in force three full years, the owner shall not exercise either of said options within three months after such default, the insurance shall be continued as provided by option (a) in either paragraph (1) or (2). In any case of continued temporary insurance under any of the above provisions this Policy upon evidence satisfactory to the Com- pany of insurability may be reinstated within the first three years of the term for which the insurance is continued by payment of arrears of premiums and of whatever indebtedness hereon to the Company existed at the date of surrender or default, with interest at a rate not exceeding five per centum per annum. S&abta of grttlrmrttt — The Insured or the owner or the beneficiary after the Insured's death, in case the Insured shall have made no election, may by written notice to the Company at its Home Office, elect to have the net sum payable under this Policy upon the death of the Insured paid either in cash or as follows: (1) By the payment of an annuity equal to three per centum of such net sum payable at the end of each year during the lifetime of the beneficiary, and by the payment upon the death of the beneficiary of the said net sum, together with any accrued portion of the annuity for the year then current, unless otherwise directed in said notice, to the beneficiary's legal representatives or assigns. (2) By the payment of equal annual instalments for a specified number of years, the first instalment being payable immediately, in accordance with the following table for each one thousand dollars of said net sum. (3) By the payment of equal annual instalments payable at the beginning of each year for a fixed period of twenty years and for so many years longer as the beneficiary shall survive, in accordance with the following table for each one thousand dollars of said net sum. Any instalments payable under (2) or (J) which shall not have been paid prior to the death of the beneficiary shall be paid, unless otherwise directed in said notice, to the beneficiary's legal representatives or assigns. When an y option calling for annual payments is elected, this Policy shall be surrendered upon its maturity and a supplementary non participating contract shall be issued for the option elected. Unless otherwise specified by the owner or by the beneficiary in making such election, the beneficiary may at any time surrender the contract guaranteeing the payment of instalments, for the commuted value of the payments yet to be made, computed upon the same basis as option (2) in the following table; provided that no such surrender and commutation will be made under option (3), except after the death of the beneficiary occurring within the aforesaid twenty years: TABLE OF INSTALMENTS FOR EACH $1,000. OPTION (2) OPTION (3) Number of Annual Instalments Amount of Each Number of Annual Instalments Amount of Each Age of Beneficiary Amount of Each Age of Beneficiary Amount of Each Age of Beneficiary Amount of Each Instalment Instalment at Death of Insured Instalment at Death of Insured Instalment at Death of Insured Instalment 1 $1000.00 11 $104.92 10 $39.52 - 30 $44.98 50 $56.60 2 507.39 12 97.53 11 39.70 31 45.39 51 57.30 3 343.23 13 91.29 12 39.89 32 45.82 52 57.99 4 261.19 14 85.94 13 40.08 33 46.27 53 58.66 5 211.99 15 81.32 14 40.28 34 46.74 54 59.33 6 179.22 16 77.29 15 40.49 35 47.23 55 59.97 7 155.83 17 73.74 16 40.71 36 47.73 56 60.58 8 138.30 18 70.59 17 40.94 37 48.26 57 61.17 9 124.69 19 67.78 18 41.18 38 48.80 58 61.72 10 113.81 20 65.25 19 41.43 39 49.36 59 62.23 20 41.69 40 49.95 60 62.71 21 41.96 41 50.55 61 63.15 22 42.24 42 51.17 62 63.54 23 42.53 43 51.80 63 63.89 24 42.84 44 52.46 64 64.19 25 43.16 45 53.12 65 64.45 26 43.49 46 53.81 66 64.67 27 43.84 47 54.50 67 68 r, 64.85 28 44.21 48 55.19 65.00 29 44.59 49 55.89 No person except an Executive Officer of the Company as aforesaid has power to modify, or in event of lapse to reinstate, this Policy or to extend the time for paying a premium. 3ln Witttfaa Wtyttaf, ttye Company Ijaa tmxatb ttjia $ oliro, to be txsntitb ifog &inst llag nf January, /9Q8 — Sample ^Policy. NOTICE TO POLICY-HOLDER Payments are invalid unless made In exchange for an official Home Office receipt signed by an Executive Officer (President, Vice-President, Secretary or Actuary) of the Company and countersigned by the Company's Cashier at the Home Office or the Superintendent of the District. The Company's agents have no authority to waive forfeiture, alter or amend the contract, to accept premiums in arrears or to extend due date of such premiums. Privilege of voting for Directors. The holder of this Policy while it remains in force, after one year from its date, will have a right to vote, either in person, or by proxy or by mail, at the election of Directors of the Company, which is held in New York on the second Tuesday in April each year. For particulars how to vote, apply to the Secretary, No. 1 Madison Avenue, New York City. ' Notify the Home Office, 1 Madison Avenue, New York City, of any change in your address, and give the Policy number in any communication to the Company. NEW YORK STANDARD LIFE INSURANCE POLICY A^&t^if Limited Payment Life Age. 40 .Years Amount $ 500 Am UCl Premium $ J2i2 No. (Jtrmpamr, 3to (Enrtsiorratuut of tbr_ .annual prrmtum of_ Uollara, _bag, of_ fanuary • anb of tiff paumr nt of a like amount upon rarfy fyrrpnftrr until -20 full gears* prrmtumB sljall Ijaw? brrn paib or until tljr prior bratb. of thr insure b, ===== promises to pay ===== at tljr i^avat (§ffirr of tor CCompang in Iljr (Sitg of Nr-nt ||urk upon rr-rript at Baib Ijamr- (©ffirr- of bup proof of the bratb o f - fa ttieS & tfiltipS M , n f New Xjcrk , (Sount 0 of View Zferk , ftatr o f Xew jjerk , hcrrin rallr-b Iljr 3Jnsurrb, Jive hundred .dollars Ir-sa any tnbrbtr-bnr-as grreon to lljr fflompang anb ang nnpaib portion of trjc premium, for tljr tfjrn rurrent pnltrg grar upon snrrrnbrr of tljis $olirg, properly rrrripteb. to C a therine A. tiimps e n -— — — wife ef the Mured bmtfaiatU ntiili_£Kf right of wooration. (Cljangr Ot Smrfiriarg. — When the right of revocation has been reserved, or in case of the death of any beneficiary under either a revocable or irrevocable designation, the Insured, if there be no existing assignment of the Policy made as herein provided, may. while the Policy is in force, designate a new beneficiary with or without reserving right of revocation by filing written notice thereof at the Home Office of the Company, accompanied by the Policy for suitable endorsement thereon. Such change shall take effect upon the endorsement of the same on the Policy by the Company. If any beneficiary shall die before the Insured the interest of such beneficiary shall vest in the Insured. JIaijmrnt flf Jlrf munrtH. — The Company will accept payment of premiums at other times than as stated above, as follows Except as herein provided the payment of a premium or instalment thereof shall not maintain the Policy in force beyond the date when the next premium or instalment thereof is payable. AH premiums are payable in advance at said Home Office or to any agent of the Company upon delivery, on or before date due, of a receipt signed by the President, Vice-President, Secretary or Actuary of the Company and countersigned by said agent. A grace of thirty days, subject to an interest charge at the rate of five per centum per annum shall be granted for the payment of every premium after the first year during which time the insurance shall continue in force. If death occur within the days of grace the unpaid portion of the premium for the then current Policy year shall be deducted from the amount payable hereunder. (CimMtinltfi. — The Company shall be released from all liability under this Policy if the Insured shall, within one year from the issue hereof, become engaged in or connected in any manner with the manufacture or sale of ale, wine, beer or liquor, unless written permission from the Secretary of the Company be first obtained. If the Insured within one year from the issue hereof die by his own hand or act, whether sane or insane, the Company shall not be liable for a greater sum than the premiums which have been received on this Policy. ihtrntttPHtabtlitU,. — This Policy shall be incontestable, except for non-payment of premiums, two years from its date. If the age of the Insured has been misstated, the amount payable hereunder shall be such as the premium paid would have purchased at the correct age. J0_Years Amount of Insurance Payable at Death Premiums Payable for- or until Prior Death Non-Participating Form 508Int. SNnjl-Partiripalum. — This Policy is not entitled to participate in the profits or divisible surplus of the Company. Coailfl.— The Company at any time will advance upon the sole security of this Policy at a rate of interest not gTeater than five per centum per annum, a sum not exceeding the amount specified in the table of loan values herein set forth, deducting therefrom all other indebtedness hereon to the Company. Failure to repay any such advance or interest shall not avoid this Policy unless the total in- di btedness hereon to the Company shall equal or exceed eighty per centum of the net value of the Policy, and thirty days' notice shall have been given by the Company. ABBUJttmrnt — No assignment of this Policy shall be binding upon the Company unless it be filed with the Company at its said Home Office. The Company assumes no responsibility as to the validity of any assignment. ©jftimtB OH &urrrubrr or Hjapap.— After this Policy shall have been in force three full years it may be surrendered by the owner at any time prior to any default or within three months after any default. Thereupon, (1) If there be no indebtedness hereon to the Company, the owner may elect either (a) to continue the insurance in force for its face amount without participation, and without the right to loans; or, (b) to purchase non-participating paid-up life insurance payable at the same time and on the same conditions as this Policy. The periods for which the insurance will be continued and the amounts of paid-up life insurance which will be allowed, are shown in the table of surrender values herein set forth. TABLE OF LOAN AND SURRENDER VALUES. AFTER POLICY HAS BEEN IN FORCE 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Years LOAN VALUE g 27 -40- g 54 g 68 83 t 98 g 113 g 129 g 146 S^L63 g 180 g 198 g 217 g-236 - 256 % 277 300 PAID-UP LIFE INSURANCE -64_ $- g- g 106 -84_ S 131 -155- g 181 $-206- -230 g 255 279 g 303 g 328 352 g 377 JLQ2_ g 429 g 464 500- PAID-UP CONTINUED INSURANCE YEARS MONTHS DAYS 3 n 5 7 0 1 1 0 8 5 0 9 8 0 10 9 0 11 10 0 12 9 0 13 7 0 14 5 0 15 2 0 16 0 0 16 9 0 17 8 0 18 7 0 19 10 0 fi 0 Values for later years will be computed on the same basis and be furnished upon request. (2) If there be an indebtedness hereon to the Company, it shall be deducted from the amount which otherwise would be applicable as a surrender value to the purchase of temporary insurance for the period aforesaid, and the owner may elect either to have the remainder applied (a) to continue the insurance in force without participation and without the right to loans for the face amount of this Policy, less the indebtedness, or (b) to purchase a proportionate amount of non-participating paid-up life insurance. If in the event of any default in the payment of premium or otherwise, after the Policy shall have been in force three full years, the owner shall not exercise either of said options within three months after such default, the insurance shall be continued as provided by option (a) in either paragraph (1) or (2). In any case of continued temporary insurance under any of the above provisions this Policy upon evidence satisfactory to the Com- pany of insurability may be reinstated within the first three years of the term for which the insurance is continued by payment of arrears of premiums and of whatever indebtedness hereon to the Company existed at the date of surrender or default, with interest at a rate not exceeding five per centum per annum. ffiabta of Btttitrntnt . — The Insured or the owner or the beneficiary after the Insured's death, in case the Insured shall have made no election, may by written notice to the Company at its Home Office, elect to have the net sum payable under this Policy upon the death of the Insured paid either in cash or as follows: (1) By the payment of an annuity equal to three per centum of such net sum payable at the end of each year during the lifetime of the beneficiary, and by the payment upon the death of the beneficiary of the said net sum, together with any accrued portion of the annuity for the year then current, unless otherwise directed in said notice, to the beneficiary's legal representatives or assigns. (2) By the payment of equal annual instalments for a specified number of years, the first instalment being payable immediately, in accordance with the following table for each one thousand dollars of said net sum. ■ (3) By the payment of equal annual instalments payable at the beginning of each year for a fixed period of twenty years and for so many years longer as the beneficiary shall survive, in accordance with the following table for each one thousand dollars of said net sum. Any instalments payable under (2) or (3) which shall not have been paid prior to the death of the beneficiary shall be paid, unless otherwise directed in said notice, to the beneficiary's legal representatives or assigns. When any option calling for annual payments is elected, this Policy shall be surrendered upon its maturity and a supplementary non- participating contract shall be issued for the option elected. Unless otherwise specified by the owner or by the beneficiary in making such election, the beneficiary may at any time surrender the contract guaranteeing the payment of instalments, for the commuted value of the payments yet to be made, computed upon the same basis as option (2) in the following table; provided that no such surrender and commutation will be made under option (3), except after the death of the beneficiary occurring within the aforesaid twenty years: TABLE OF INSTALMENTS FOR EACH $1,000. OPTION (2) OPTION (3) Number of Annual Instalments Amount of each Number ol Annual Instalments Amount of kacb Age of Beneficiary Amount or each Age of Beneficiary Amount of tach Age of Beneficiary Amount of bach Instalment Instalment at Death of Insured Instalment at Death of Insured Instalment at Death of Insured Instalment 1 $1000.00 11 $104.92 10 $39.52 30 $44.98 50 $56.60 2 507.39 12 97.53 11 39.70 31 45.39 51 57.30 3 343.23 13 91.29 12 39.89 32 45.82 52 57.99 4 261.19 14 85.94 13 40.08 33 46.27 53 58.66 5 211.99 15 81.32 14 40.28 34 46.74 54 59.33 6 179.22 16 77.29 15 40.49 35 47.23 55 59.97 7 155.83 17 73.74 16 40.71 36 47.73 56 60.58 8 138.30 18 70.59 17 40.94 37 48.26 57 61.17 9 124.69 19 67.78 18 41.18 38 48.80 58 61.72 10 113.81 20 65.25 19 41.43 39 49.36 59 62.23 20 41.69 40 49.95 60 62.71 21 41.96 41 50.55 61 63.15 22 42.24 42 51.17 62 63.54 23 42.53 43 51.80 63 63.89 24 42.84 44 52.46 64 64.19 25 43.16 45 53.12 65 64.45 26 43.49 46 53.81 66 64.67 27 43.84 47 54.50 67 64.85 28 44.21 48 55.19 65.00 29 44.59 49 55.89 No person except an Executive Officer of the Company as aforesaid has power to modify, or in event of lapse to reinstate, this Policy or to extend the time for paying a premium. 3lu Wttttffia Wtyrtaf, % (Company Ijaa rauaeb tifta Polirg to bt exttxxttb tt|t« &irst i)ag nf January. 7908 — T Sample ^Policy. NOTICE TO POLICY-HOLDER Payments are invalid unless made in exchange for an official Home Office receipt signed by an Executive Officer (President, Vice-President, Secretary or Actuary) of the Company and countersigned by the Company's Cashier at the Home Office or the Superintendent of the District. The Company's agents have no authority to waive forfeiture, alter or amend the contract, to accept premiums in arrears or to extend due date of such premiums. Privilege of voting for Directors. The holder of this Policy while it remains in force, after one year from its date, will have a right to vote, either in person, or by proxy or by mail, at the election of Directors of the Company, which is held in New York on the second Tuesday in April each year. For particulars how to vote, apply to the Secretary, No. 1 Madison Avenue, New York City. Notify the Home Office, 1 Madison Avenue, New York City, of any change in your address, and give the Policy number in any communication to the Company. a* -s i p ©0 to Ms O O 5 to ■I to in St ft ft^ e 0 » I ft <