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W. Grafton Bateman |
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W. GRAFTON BATEMAN, superintendent for the Prudential Insurance Company of America at Oil City, came here in June, 1889, from Washington city. He was born in Maryland in 1861 and was educated in the public schools. His father was a successful farmer and the son was familiarized with the duties of farm life. In 1883, while clerking in a mercantile establishment, his attention was directed to life insurance and he repaired at once to Baltimore, Maryland, as the agent of the Prudential. The year following he was transferred to Washington city, and soon afterward promoted to the position of assistant superintendent. In June, 1889, as has been seen, he came here as superintendent of this district, which embraces Oil City, Franklin, Titusville, and the surrounding towns. The Oil City branch is in full operation, with headquarters over the postoffice. The Prudential was organized in Newark, New Jersey, in 1876, and is based upon the plan of the old Prudential of London, organized in 1848. Therefore its distinctive features, though novel, are not experimental. It issued the first year of its organization seven thousand nine hundred and five policies; its income was fourteen thousand five hundred and forty-three dollars and paid claims one thousand nine hundred and fifty-seven dollars. In 1888, after twelve years of uninterrupted advance in business, it issued twenty-four thousand nine hundred and fifteen dollars in policies, received three million seven hundred and fifty-seven thousand and eighty-four dollars, paid claims aggregating one million ninety-six thousand two hundred and thirty-four dollars, and has as surplus to credit of policy holders seven hundred and seventy-six thousand two hundred and eighteen dollars. In June, 1889, its assets were two million eight hundred and seventy-four thousand one hundred and sixty-two dollars and fifty-six cents, showing an increase over preceding years of nine hundred and six thousand seven hundred and ninety-three dollars and forty-three cents. In its industrial plan the company insures any healthy person from one to seventy years of age, at a rate of from three cents on one dollar and ninety cents per week, and is paying now an average of fifty claims per day. It also operates on the plans of the old line companies at about the rate of such companies. Mr. Bateman was married in Washington city, and has one child.
History of Venango County, Pennsylvania
: its past and present, including its aboriginal history, the French and
British occupation of the country, its early settlement and subsequent
growth, a description of its historic and interesting localities, its rich
oil deposits and their development, sketches of its cities, boroughs,
townships, and villages, neighborhood and family history, portraits and
biographies of pioneers and representative citizens, statistics, etc.,
etc.
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