Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1866-01-12

hECklPEs.
Assets Jan. /, 1865 Sl30,03l Of
Received since for premiums 10, $50 7s
Received since for interest, 2s.267 II
1863, l5Sll6
DISBURSEMENTS.
Paid claims by death and additions. $40. .399 %
CONS. to agents, $3.50 60
Salaries, rents and taxes, 5,0S2 GO
Directors, Drs. printing and
Postages. 2,l54 40
Office and travelling expenses, l,5S3 So
Surrendered policies 1857 Il
Dividends on capital 1884 90
Dividends of surplus 1865, 55,063 %
sl05,O25 80
Balls. being assets Jan. 1, 1866, Si6l, l27 4S
Accommodations from bus
mess, si39, 1877 As
Capital, 25.0OO 90
1854, l27 4s
ASSETS.
Mortgage and other notes, S159, 100 97
Premium notes, 2s,762 80
Vermont bonds, 4S,5OO 90
U. S. bonds l42, $50 90
Bank stocks, 81, ,l04 25
Office and house, 4,794 81
Agents accounts, 1916 81
Cash on hand, 13,09S 48
S464, ,127 As
The annual statement shows the continued pros
perity of the Company. The total receipts for the
past year are more than Sl39, 900, and the entire
expenses have been but Sls,7O0, little more
than IL per cent upon the receipts. The Com
pany has paid in cash S55, 900 during the year on
the Sd distribution of surplus, and most of the
balance of said distribution has been desired by
the members allocaied into a reoerSionary bonus.
The cash paid was 80 per cent upon the five annu-
al premiums preceding.
The actual gain to the accumulated fund has
been S34 0O0 which with the ffty-fve thousand
dollars paid on distribution and interest upon said
sum would have been nearly one hundred thousand
dollars addition in the year beside the payment of
all losses and expenses. We think with one ex-
ception that this is the only life Company among
forty in the United States that actually pays
its dividends in cash
The Directors made a very important alteration
in its plans of business, viz
Hereafter all its whole Life aud EndOw-
ment policies are to be non-forfetable to
the extent of premiums already paid. If
after the receipt by the Company of three
or more annual premiums the policy should
cease in consequence OF the non-payment
of premiums, new policy will be issued
for the whole amounbof premiums received,
upon which no further payments will be
required.
Provided the age of the party at the issue Of the
original policy, did not exceed 80 years. Exam
pie If policy which three annual premiums
Of 800 each have been paid, and the insured
wishes 10 discontinue it, paid up policy for $500
will be issued without further charge. The new
policies payable at the times the originals
were. This lberaity of the Company obviates
the objection often made that il at future time
party insured should be unable TO continue his
payments, he would lose the money already paid.
This secures him against the loss Of ddime.
Did space permit would be glad TO give at
least sketches of the remarks OF Gov. Dillingham;,
Judge Richardson, Mr.. Tburston and the Presi-
dent upon Life Insurance, and upon the excellen-
cy Of this Company compared with those foreign
companies some of them Of doubtful solvency,
whichare hawkcd about like patent medicines. We
fully convinced that no person in this State or
any other State better himself by selecting any
other company. The National, now sixteen years
in successful business, is good enough for US and
we cordially commend it to the public.