Word: mutuals
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Dates: during 1930-1939
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Month ago California's Insurance Commissioner Samuel L. Carpenter Jr. and officials of Pacific Mutual Life Insurance Co. of California went into the Los Angeles court of Superior Judge Douglas L. Edmonds. In a 45-minute proceeding the company was, at the request of Commissioner Carpenter, declared insolvent and its assets placed in his care until reorganization could be worked out. In the same breath, a new company called Pacific Mutual Life Insurance Co. (i.e., without the "of California") was formed to take over its predecessor's business under a management headed by old Pacific Mutual...
...Manhattan's Metropolitan Life Insurance Co., largest private financial institution in the world, should, on 45 minutes notice suddenly be found to have liabilities substantially exceeding its assets, Eastern U. S. citizens would get some idea of the fantastic consternation Pacific Mutual's crash caused on the West Coast. Last year the 68-year-old company had policies amounting to $636,000,000, assets of $215,000,000, ranked No. 19 in the U. S. insurance lineup. To West Coast insurance, old Pacific Mutual was virtually what Amadeo Peter Gianninrs Bank of America is to West Coast banking...
...years have been accustomed to make a four-year living from the profits of running each Republican campaign. Republican National Chairman John Hamilton, avoiding the worst pitfalls, chose Rev. Mr. Lacey Kirk Williams, parson of the Mt. Olivet Baptist Church in Chicago and president of the Victory Mutual Life Insurance Co.. to head the Republican Negro drive in the West. Unlike most of the other important Negroes in the 1936 campaign, who have more white blood in them than black. Republican Williams is an old-fashioned chocolate color...
...machine gun with which France's huge "airfortress" planes are to be armed. This airplane "cannon," screamed Deputy de Kerillis, is the sole superiority France has over its potential enemies in the air. Scrappy, bespectacled Air Minister Cot replied that nations allied in pacts of mutual assistance, as are France and Russia, ought to exchange information, that anyway the "cannon" was the property of a Swiss engineer named Birckigt who had the right to sell it to anyone and that anyhow he had not yet delivered a single "cannon" to France...
...Kiwanis by name in Babbitt, the "Boosters' Club," to which George F. Babbitt belonged, was apparently meant to be a local chapter of Lions International. The "Boosters" might also be taken for Civitans, another, though much smaller, businessmen's organization devoted to songs, luncheons, community service and mutual backscratching. General belief is that the Civitans take in those who cannot make the Lions; the Lions those who do not make Kiwanis; and Kiwanis those who fail to make Rotary, which is the spiritual father of them all. Last week Rotary assembled in Atlantic City for its 27th annual...