Judea Industrial Corp. Celebrates Sale of Stock

Over one thousand stockholders and their friends, attended the special meeting of the Judea Industrial Corporation which was held Sunday evening, in the Grand Ball Room of the Waldorf-Astoria Hotel to mark the occasion of the completion of the sale of all its capital stock amounting to $1,000,000.

Samuel Mason, Vice-President of the Judea Life Insurance Company, was chairman. Among the speakers were Colonel Francis R. Stoddard, exsuperintendent of the Insurance Department of the State of New York, Morris Pike, Actuary of the Judea Life, Professor S. B. Ackerman of New York University, Dr. I. Sossnitz, Chief Medical Examiner, Theodore R. Racoosin, Auditor of the Judea Life, Max Fanwick, the Vice-President of the Judea Industrial Corporation and H. Yarin, Assistant Suprintendent of Agencies of the Judea Life.

Colonel Stoddard pointed to the record made by the Judea Life as a new company which has written over four million dollars of life insurance after a period of eleven weeks in operation.

S. B. Komaiko of Chicago and Elihu D. Stone of Boston also addressed the meeting. Mr. Stone recently returned from a trip to Palestine as a member of the Business Mens’ Delegation from New England. In his survey of present conditions of Palestine, Mr, Stone stated he had an occasion to see the work done by the Judea Insurance Company, Ltd. of Palestine in the rebuilding of the country.

According to the report read by Samuel Mason, 40,000 shares of stock have been sold in the corporation at $25 a share. The par value of the stock is $1,000,000, but the whole outlay is now worth $3,000,000.

The Judea Insurance Company of Palestine, formed two years ago, has sold $2,500,000 insurance in two years, it was said, and only one of the men insured in that time has died. The New York company, organized eleven weeks ago, has already written $4,000,000 in policies, of which the premiums have been paid on $2,000,000.