Delaware tribune. [volume] (Wilmington, Del.) 1867-1877, 1870-06-09
ITIIlHANLLFIIIA.J llne 7. $50.
EXTRACTS FROM REPORT.

i-NlhatIN FIbM REPORT,
= Every effort has been made to make tle in
Sestlsatign thorough and complete. II has been
continued through II period of about three
months. Over six hundred foolscap pages of
testimony have been taken, and the bnoks of
every DESCRIPTION. as well az the assets If the
company, lave been carefully examined"
= Having undertaken the examination Of the
ahhiis oi TINS great Company tbcsides The tlc-
cal charges already conS!dcrel) / have contin-
ned it until BY personal inspection Of tile assets
ana general investigation of the methods If
business, as well as review Of the history If the
Company feel prepared to declare. iis inv
ollihon, That the condition and standing of tile
Mutual Life Insurance Company of New York.
Il such aa entities it to tie confidence Of tn.
pubhe ana the nigh position it has so long oecl-
ped that II has acquired this leading and mar
nilceht position Is most tlnIHestonahlv in a
great measure due TO the eli ieney ability au1
fidelity of those intli-tel with it, management.
y was organized by special act in lSl2 and wa,
9lc ilrst Mutual Life Insurance Company Of this
STATE. he present elheI executive Officer Mr.
tfedclcks ). Winston, became its president IN
l99p ~ Which, time tho assets OF the colu,aIiy
amunled to 72niS.77G. Tie number ol p0jiele.
liieii ~ force was dlE'. insnring the amount Of
3tIi,jJ. l;i3 One the LIST of Janary. 1874 ina
ilrsels OF me company had Increased 10 the enur-
nous sun oi s35,51A.l6 The number of poli-
,les tAeil III force was 6s,072, inslling S236g i3
~. ne income OF the company for the wear
iS4J was about Sl5,Dul.'fO. Of the assets over
upon real estate, ALL except about ~ OUO tl0 IN
view ief7eA, being upon real estate situate
lhS Slale. The assets Of the Company were
lnahd tocorrespond with ita annual statement
=, neiu9i maze 70 VIC Insurance department
lleN are OF the highest order of sceui'tirr AMI
lave been safely kept II is a fact worthy az
remark that the stfictest scrutiny into tlie man
aSelnent Of this company during the past sin
cen nf seventeen years, during which such a
Nhs amount 81 business has been done and such
| immense sums oflnoney havc been received aud
| invested not one dollar is discovered to have
| teen lost by the emhezzlcment. lefacation. nr
breach OF trust, Of any officer or Trustee Ii Il
| PERHAPS, not strange that such success slnuld ~
'lle not only generous rivalry in this great field
81 business enterprise, Int also some jealousy nj.
!, Wen as personal animositcs and criticisms ii
y 70 be regretted that in any the officers or
| agents OF one company should resort to the y-
lettloh OF another company or its officers with
| a view to advancing the interest of their ovu
| company or thems elves. IT there are CHARGES
| affecting the standing Of company, or the H.
galtN Of Is management, seriously made npon
| bfHd fdcte. reasonable gronipl to the SuIteritt-
| teldelt he will. AZ in this case deem il his
| 4utN at soon as practicable. to Investigate
| mem, IN making theae remarks no reference
| T. naH 10 any company Or person in particular.
heS are merely aimed generally at what have
| conceived to he a pernirious practice
| In concluding this report | would 4av tl,at I
entered npen this examination. certainly mt
| preuisposed 70 extend any special favor 10 the
,, oiiipahy, hat fully determined to probe to the
| bottom all complaints and. so far AZ was ala
TO mete ont equal and exact Justice. This, to
the best OF my ability, | have done Personal
examinations Of the affairs Of companies Will he
more frequent under the present titan they we're
| under Inc late administration Of tho Insurance
| Department. II will be gratifying if those nx-
a'hllialion4 dhelosc no greater Irregularities nor
stpse more serious apprehcl, ion for the future
companies examined, than thiA has done. IF
my OF onr Life Insurance Companies are sound
them. =
In Language which have before usel, | will
only add, my examination has satisfied me that
= ne company has been managed with peculiar
aMhiy and Integrity and that its condition IL
'ihhehtly sonnd. tikoRGE W. AinLEK,
Superintendent
state Of New York Insurance Department
Albany May 2sth. 1870