Buried treasure: New York Life unearths time capsule from 1927.

Ninety-two years ago, as the New York Life Building was going up at 51 Madison Avenue, the company placed a time capsule beneath the cornerstone. Then New York Life President Darwin Kingsley presided over a ceremony in which a copper box containing books, coins, papers, and other records from the day was interred on the corner of Park Avenue and 26th Street.

Recently, as building renovations were taking place near the cornerstone, New York Life retrieved and opened the capsule. Its contents were carefully removed and inspected by CEO and Chairman of the Board Ted Mathas, former Chairman and CEO Sy Sternberg, and a company archivist. The video above documents the recovery and the opening of this historic artifact.

Today, New York Life is planning to place a new time capsule beneath the building’s cornerstone prior to the space being sealed up this April, just about one year before the company kicks off its 175th anniversary.

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