, 1869-07-25
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The Chicago Board of
Trustees Of the LIFEASS0-
CIATI0N OF AMERICA
met at the Office Of the. As
sooiation, No. 16 Chamber
Of Commerce, on Saturday,
the oath inst, Peter Mac
queen, Esq, the Chair,
when the following report Re Of
the. Examining Committee
was presented: -.
To The ChleaEo Board Of Trustees Of the Life
Association Of lmeriea,,
GENTLEMEN: The undersigned hayins
been aPpel1ted By yau Committee to visit
Saint Louis md make an examination Of the
Life Association of AntHea, especially With
rtftrtree to tue integrity and eeoasn,5 Of Its
management, htg haEe ta report as foIlowss
That ne have made tasrsush personal
examination Of all the Books, Papers, Csn-
.raets and Securities Of the Association; that
We find every expense Incurred by the lssotia-
ten on account Of Commissions, Salaries, h., oi
every kind, and to every slass and description Of
Its emr!o!es, prior to July !, 1869, and al
the General Expenses Of the business to that
dzte, fully accounted for and charged Ia their
books; that ID 10 Ease had an! rtbste Of the
usual premium been made By the Assoelation
ia Its Insured, except two Policies that were
lssued by mistake, eaused hy misreprtssnta-
tIons--one At permanent reduction Of twea-
| tY {20) per cent, and one 1t 4 permanent re-
dust'ou Of ten (l0) PER rent, Witch Policies
| will not he renewed .hy the Association that
tie el1ss Of Policies known as Investment Poll
ties, are, and have been, accessible to ant
member upon payment Of the ntttssary pre-
mlum that these Investment Pelleies are an
entirely different Palle5 from the Published
bttn made ; and that In no respect has the Is
sotiatiou Violated The conditions Of soltenty
and of equity In Its management. Is IN fadl-
cation Of the sueeess With which It's Affairs have
been Administered, We respectfully submit the
following
| ST TATEMENT
| Policies In farrr IaIy 1, 1894 naat
| rom frur~nis..:-..:..:--:.= ni.-:.--.= !.nd
| Income 4fem InteFts u and nll 90
I other eoares1,...-..-....----- as.3 II ~4t
Total tIncomr........-.......- S1.1BO.1SG.8S
Expenses -....8fH7+f13-15
| Loss<s s........... 'S'ss741.Eu
| Tolnl Dtsbursenenas...... :s.I,I6S.21
| Actunl As.cts, July 1.
1869 n.....-.......-..--.-..... S9d9.TSN.lo
Thst The association Is possessed Of such as
sets, We are able to affirm from res$onal ex-
amiuatlor Of Its setur1tleS---all Of Hhlth are Of
a character which a1ttst,..the utmost care st
ua1sseutn1 and fully protects tie insured.
From. tue above 1t appears that
| The ratio Of Expenses to Premaan In
COME ..Io-4kt1
| The fntio Of Expenses 10 Total fneome,
A1sf
| The ratio Of Exv~nnts uad L0r~cs 10 To-
tai Income.
These f3sts, <satsmea to as BY thorough
md detailed Investigation, ne hellere, vii
| fully jrstify rs Ia endorsing ths Life 1ssseis-
ton Of AmerIta, and heartily commencing II
to the confidence of the publlt.
it's proper for rs further to state that 10
| mixing our examination We employed An e.
pert In Life Insurance to assist rs, verifying
bis figures In every instance by ptfsoual e1au'
taatlou Of the books sf tie Association.
II. SPRUANCE, :.
II. G. LINN,
i CLINTON BRIGGS.
On motion, the report was
unanimously adopted.