Metropolitan Life Insurance and the Industrial Insurance Business
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Paradoxically, the very success of the Metropolitan life insurance company brought with it serious financial difficulties. The establishment of many new district offices, the forging of a home office organization, the setting up of reserve funds, and the payment of commissions to agents, all entailed an outlay of considerable money. The situation in 1883 reached a point where in its high flush of prosperity the company was probably insolvent; certainly the capital stock was impaired. Faced wi
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