REPORT OF COMMITTEE ON CELEBRATION OF THE FIFTIETH ANNIVERSARY. PHILADELPHIA, Pa., June 9, 1897. To the Board of Trustees of the Penn Mutual Life Insurance Company. GENTLEMEN: Pursuant to a resolution of the Board ot Trustees, adopted the eleventh day of November, 1896, your Committee on Cele- bration of the Fiftieth Anniversary of this Company then appointed, con- sisting of the* president and vice-president, and the chairmen of the various standing committees and the chairman of the Special Committee on Real Estate, respectfully reports: The committee met December 22, 1896, and organized by the election of Vice-President Harry F. West as chairman and Manager Henry C. Lippincott secretary. The chairman outlined the general scope of the proposed celebration, and suggested as a feature of it that all general agents having a direct contract with the company be invited to visit the Home Office during the three days. May 25, 26, and 27, and that the expense of transportation and a per diem allowance to each agent be borne by the company. In this connection he submitted to the committee a list of agents whom he thought it desirable to invite, 103 in number, subsequently increased to 129. With the view to securing wide publicity to the features of the celebration, it was also recommended to the committee to invite a number of insurance journalists. Statements were presented showing approximately the cost of transportation, incidental expenses, etcetera, and on motion it was resolved to extend an invitation to the agents to participate in the services incidental to the anniversary. At a subsequent meeting, held February 9, 1897, the committee consid- ered, modified, and approved a proposed program covering the entertain- ments to be given to invited guests, and a letter of invitation, attached hereto and marked Exhibit A, had the consideration and approval of the committee. The subject of sending a formal communication to the Penn Mutual Agency Association was considered and authorized, and the chair- man the next day communicated with the president of the association, Dr. R. Allison Miller, as per Exhibit B attached. The matter of increasing the list of guests so as to include all the leading life insurance journalists of the country was under consideration, and it was resolved that the number of insurance journalists to be invited at the expense of the company should be left to the discretion of the chairman of the committee. A discussion was then had of those features of the program relating to entertainments at the Home Office, including the selection of persons to write or read papers, as well as the names of speakers at the banquet; and the program as submitted to the committee was finally approved, with THE PENN MUTUAL LIFE INSURANCE COMPANY. 189 the understanding that all other matters in connection with the Semi- Centennial be referred to the chairman, with power to act and with leave to consult the committee on any exigency. The program as finally adopted is hereto attached, marked Exhibit C. It was found desirable, in order to obviate any criticism, to extend invitations to all the insurance journalists of the country, numbering 46. Of these, some few attended all the sessions, and there were 22 present at the banquet at the Union League on May 27. No expense was incurred for transportation or otherwise, except the cost of seats at the dinner and banquet. All of these gentlemen manifested an appreciation of the courtesy, and many of them have taken, and all of them doubtless will take, pleasure in favorably noticing the company. Under the discretion allowed the chairman by the committee, he took the liberty of inviting four special agents. They were all large producers, and for this reason were entitled to special courtesy at the hands of the company. The invitations were so arranged as to excite no adverse com- ment on the part of other special agents who were uninvited. It is not possible within the limits of an address acceptable to the board to more than summarize the proceedings. The papers read during the several days of the meeting were of unusual interest and merit, and the opinion was freely expressed that they were fully equal, if not superior, to the average of such productions. They commanded close attention, as was manifested through the interesting discussions which followed the reading of each, and by the vote of thanks tendered each of the essayists by the several meetings. Perhaps the most instructive part of the pro- ceedings was found in the asking and answering of questions during the protracted session of Thursday, May 27. The agents were keen to elicit information concerning the methods and practices of each department of the company, and the committee expresses the conviction that the several departments,—the Medical, Actuarial, Applications and Death Claims, Policyholders' Accounts, Agents' Accounts, etc.,—through their officers and managers, were most capably represented. Many features of the busi- ness were elucidated; methods and rules were clearly explained; but, what is more important, the reasons for such rules and methods were given and many points explained to the satisfaction of the inquirers, whose knowledge was thus greatly increased. Perhaps the most formal and pronounced success of the celebration was the banquet given at the Union League on'the evening of May 27, in which 208 agents, journalists, officers, and heads of departments partici- pated with the trustees. The addresses were of exceptional merit. Nothing occurred to mar the harmony of the evening. It was an occasion of great rejoicing over the achievements of the past, the present condition of the company, and its marked progressive tendencies, and it is not too much to say that the guests of the company were deeply impressed with IRO SEMI-CENTENNIAL CELEBRATION the undoubted ability, intelligence, integrity, and high purpose of the management. There has been a very general recognition of this by the insurance journalists of the country and by the press of the city of Phila- delphia. Many incidents of the celebration have been approved and favor- ably commented upon, editorially and otherwise, and stress has been laid upon the importance of the meeting of all the general agents of the com- pany and the influence which such a gathering is sure to exert on its future career. With the approval of the Board of Trustees, your committee proposes in some way to preserve a permanent memorial of the incidents of the celebration, and to that end is having collected all the addresses, all the various discussions, all the questions propounded and answers given thereto, together with editorial and other notices in the technical and gen- eral press of the country. It is proposed to place these files in a suitable cabinet, accessible to the trustees and their successors, so that upon reaching the centennial or other anniversaries of the company a proper knowledge of this occasion may be preserved and due opportunity afforded for a comparison of its then assured greatness with its present position in the insurance world. The number who took part is too great to permit of individual mention. All who participated in the interesting proceedings acquitted themselves with great credit, with a due sense of the responsibility which was upon them, and with a degree of force, earnestness, and dignity which comported with their several positions. Perhaps something should be said of the wide publicity which was given to all the incidents of the several meetings and to the still wider notice with which we are sure to be favored from time to time by the jour- nals devoted to our special business. Considering the whole celebration as a merely commercial one, intended to pay for itself in the increased mention and popularity of our company, the committee is of the opinion that all the expense incurred has been more than fully balanced. The business tor the month was the largest in our history. The occasion, how- ever, cannot be adequately measured by any such standard. As said before, it was most fitting that the company should rehearse its achievements, disclose the methods it pursues, and establish the principles by which it has been guided, and, in thus inviting its agents and the public to its full confidence, give evidence that there is nothing in its record which it desires to conceal, nor, indeed, anything which may cause a blush. "One cannot get together one hundred or more men, animated by the same purposes and seeking the same ends, without benefiting all by the contact. Men left to themselves year after year lose the feeling of comrade- ship. They brood over their own troubles, and these grow to mountainous proportions. Get them together and let them discover their grievances are either baseless or exaggerated, and they soon learn to bear the ills they THE PENN MUTUAL LIFE INSURANCE COMPANY. 191 have with patience." So says an editor, commenting upon the celebration, and it fairly reflects the judgment of all that attended. One of the most gratifying features of the celebration was the attend- ance of so large a number of our trustees, and the participation of many of them in noteworthy addresses and incidents of the meeting. The com- mittee is under special obligation to all the active participants and to many others for the approval and encouragement given by their presence. Mention should be made of the very large part contributed by the Penn Mutual Agency Association to the success of the jubilee. There were large accessions to its membership during the week, and new mem- bers vied with old ones in promoting a spirit of interest and cordiality which materially aided the purpose of the trustees. To the president of that association, who is also the senior general agent of the company, Dr. R. Allison Miller, unstinted praise should be awarded. Assisted by his colleague, Mr. Edward Bourne, the secretary and treasurer of the association, a most elaborate, tasteful, and enjoyable banquet was served at the Hotel Walton, in which many of the trustees of the company and the chief officers and heads of departments participated. It was an enter- tainment of peculiar interest. A number of admirable addresses were made, and the deserved confidence of our representatives was greatly strengthened, their knowledge broadened, and their enthusiasm intensified. It was a most delightful close to a series of entertainments in which the mental features surpassed those of the physical, the latter being far from inconsiderable. The committee further reports that arrangements, have been made looking to the full publication and wide circulation of all the proceedings of the several meetings and banquets, including that given by the Penn Mutual Agency Association. This publication will be prepared under the supervision of the committee and with the object of intensifying, extending, and perpetuating the excellent results of the Scmi-Centennial. There is attached to this report a copy of the "Condensed Record of the Company," and also a copy of the United States Review, of May 27, 1897, containing an outline of the several papers presented and the speeches made. The expense incurred has not as yet been fully ascertained. The com- mittee will report .thereon as soon as the va'rious accounts are presented and adjusted; and, without intending in any way to anticipate the judgment of the Board of Trustees, may be permitted to say that in its opinion all the expenditures have been reasonable. The committee cannot justly close this report without an acknowledg- ment of the very great services rendered by its able secretary, Mr. Henry C. Lippincott, in carrying out its designs and wishes. It is not too much to say that the unbounded success of the jubilee was in large measure due to his energy, ability, and painstaking efforts. The admirable "Condensed Record of the Company," prepared by him, is a conspicuous example of 1Q2 SEMI-CENTENNIAL C'ELEliRAT] ON his excellent work, and fully warrants the committee in commitung the publication of the proceedings largely to his care and supervision, in the confident belief that it will in every respect be worthy of the occasion. Signed by E. M. NEEDLES, J. 0. PEASE, GEORGE K. JOHNSOX. W. H. RHAWN, BENJAMIN ALLEN, ELLWOOD JOHNSON, NOAH A. PLYMPTON, AARON FRIES, HARRY F. WEST.