New-York tribune., 1868-04-29

cent amount Of the consolidated bonds Of the Atlantic
and Great Western Company to enable them to order
Que the broad gauge" between Salamanca and Dayton,
leaving property TO represent the Erie shares winch
the and spCyS $enern shares The mortgage and
deOenture debt Of the Atlantic and Great Western Com
The English holders Of the shares Will therefore be glad
shares which may in time give them some slight com
mercisl value Your obedent servant, LEX.
THE MUTUAL LIFE INSURANCE COMPANY OF
NEw-YoRK.
To he Editor Of tn. TriDmG
SIR: The business of the past year appears to
have been unusually large ana the sgHae % fe
number of new policies appears to nave Deen Smed az ava
renewals is stated at sss572 81 deduct Tor renewals
the last years premiums which were Slo5O IL, and IL
sr a na IL the Of old
business has probably cost less than that f!e per
pens penscS 8" of the Year beyond this Should be charged
10 the new business procured during that period;
the year 10 be 81 39O575 deduct from this The above
s25277 So and 1t leaves the Of sSS2T 5s as tho
10 received for new premiums, shows 80 per cent and
fraction over az the OF procuring the same Making
he ato of expenses OF the new business would be not
less than 90 ner cput The next item to be noticed the
for purpose S This i tss to sG ;, applied to
the premiums received, heing s5SoI26 3i II dVlaea
9HGy HGdE ba the saas o Gscs %GTs HS
Company Ibeing what Is called the coHuOMtn msSsu
vary from 10 Der cent or less to members to much
larger rate given others, the whole averaging the
per cent above named The next noticeable act ls tt
by the statement the Liabilities OF the company arc
stated Mt S2 5i They say that they have assets 10
pay this amount ard leave surplus or S7GI,C04 w. IN
examining the statement OF assets, IL Is loud tHt 'c
following items are included, VIZ; ...-o., :,
Value Of future commissions cOmmuted-... sofI295 ii
Market value OF stocks in excess OF cost; 4J9sl3 %
Prcmiums deferred quarterly ana semiannual lOi9s Do
Making together the sum OF. s20927G6 80
The first two items certainly cannot be considered as
assets or proper basis for declaring dividend III Is
equally clear that the last tcm being for premiums G
pecied TO be received Ia the current year from quarterly
aud semiannal payments not yet DUE ana the RISKS on
that class Of policies yet running, the money not yet
earned not fairly an asset Tor tho purpose
though sometimes included by some c0mpanles 70 make
large statement II these items are deducted, IL VIII
leave the assets at S3252 90 the Liabilities being as
above stated S2i55Gji &C. there would appear Gehcit
Of 132501 3i IL the item OF deferred premiums Il al
lowed being i5CS 63 there would still DO denct OK
s2;9,53j 81. - . ,,.
There is another popularity about tho statement Tho
item OF stocks In the assets, on which an advance IS
claimed OF SI90942 90 beyond cost, is Government
stOcks amounting to sj0O0S 75 In their statement ot
last year this item was exactly the same 10 cent WIS
SOOlO3 75 They then claimed for value beyond cost,
$JO7g5 Increase the Valuation to Sig9942 e1-
nearly s2C0D beyond that OF year ago III appears aiso
that adding the number OF policies Issued during the
year 10 force ut its commencement and deduct
ing the number force ana the nuifDer OK those
who have died CAD, there have been 65I3 policies srrtn-
dcrcd forfeited during the year. aud these have dOt-
less OF profit The question naturally arises
results Ike those stated and Is II wise aud proper 50 10
conduct tf The respectable Directors OF the Company
requested the facts and conc sOns above
stated by one who truly is Az OLD MEMBER.