ADDRESS OF

I have had a feeling for a long time that this moment was going to be a difficult one for me, but this generous introduction by Mr. Thurman has made it worse than I expected. I hope some day I will have an opportunity to introduce him, for I can say more good things about him than he said about me and stick closer to the truth than he did. Except for my brother-in-law, Tom Scott. from whom I received my earliest instruction in the preeminence and infallibility of the Mutual Benefit. Mr. Thurman was my first friend in the Company. I knew him as a man of charming personality and great enthusiasms. I early considered him an excellent judge of men, for he came into a select circle of my friends at Carnegie Tech and took Jay Ream to become a member of his staff. Then I knew hint as one of the proponents and early directors of the Life Insurance Sales Research Bureau, the organization with which I later became identified. During the eight sears I spent in the Research Bureau, I had frequent opportunity to work with him and to talk over problems of mutual interest, and my liking for him grew with every con-tact. Then when he persuaded many of the Company's General Agents to attend the Bureau Schools which I conducted, and I found that he agreed with my opinions of these gentlemen, I became sure that he was highly intelligent as well as likable.

The idea of becoming Mr. Thurman's successor as superintendent of Agencies. when it was pc esented to me at the beginning of this year. came as a distinct shock. I still can hardly

MR. KENAGY

realize that it has happened. I try not to think too much about it, for the task of walking in his shoes is no easy one. I can never hope to earn such a high place in your affections as he holds, but I pledge you my best effort in the attempt to attain the objectives for which he was striving. I believe I understand, reason-ably well, his ambitions for the agency organization of the Company. They are my ambitions also. and I am particularly happy that he is to be close at hand where I can have the benefit of his experience and friendly counsel.

There are many things on my heart today which I should like to say, but time forbids. I would like to explain fully why I am proud and very happy to be one of you in the Mutual Benefit family_ : that would take a long time, for I should want to dwell at length on our truly remark-able chief executives, Mr. Hardin and Mr. Rhodes, and on the other Officers of the Company. I should have to extol the virtues of some twenty-five General Agents whom I knew more or less intimately before I joined the Company. And I should have to out-line, at least, my contacts with Mutual Benefit agents. I assure you they have done their part well. My last policy was dated March 13, 1936. Two men, and only two men out of the whole agency force, got the idea that the new Superintendent of Agencies might be a good prospect. Al-most as soon as my appointment was announced. I received a sales talk and an application blank through the mail. I read the sales talk, signed the application, arranged for my own

medical examination, and sent my check for the annual premium—made out to Jay Ream of Pittsburgh. Some-time later, my own brother got the idea I might be a prospect. and called me long distance from Tulsa. Oklahoma. I had to tell him he was too late. Just why no other Mutual Benefit agent. especially those in Hartford. Conne-•ticut. where I was living, considered me a prospect, I am sure I do not know. Now that I have told this story. I should go on to add that. of course, I am now out of the market as far as anyone in this room is concerned: at least. you will have to overcome the objections that I have a relative iii the business and also a life insurance adviser who sees to it that every surplus dollar I get becomes a premium dollar for the Mutual Benefit.

Since I arrived on the job. I have spent much of my time analyzing the Company's record, seeking information which would give me a reason-ably clear picture of present problems and future possibilities. I want, if I may, to review that analysis with you.

From the beginning of my contact with the Company, as far back as 1920, I heard about the Mutual Benefits points of superiority plus factors in quality. As I look back. I recall that you were particularly fortunate in the matter of net cost. You had no difficulty in proving that this net cost was comparatively low. You sold business on net cost   easily, and
in large volume. Agents of other companies knew about this favorable net cost, and many of them joined the Company's ranks because they wanted the contracts that were easiest to sell. You became very proud of your competitive position. You got Mutual Benefit religion. You boasted about it. You wanted everybody to know it. You didn't like to take an application until you had proved the fact to the prospect. You invited competition in order to have the holy joy of knocking it cold with your figures. You weren't really happy if you made a sale without proving the superiority of the Mutual Bene-

fit. This militant attitude   this holy

8   THE PELICAN