The sun., 1870-06-04


AND THE GENERAL CONDITION OF THE AFFAIRS
THE MUTUAL LIFE INSURANCE COMPANY OF
NEW YORK.
This comprehensive aud able document, containing
summary OF the various charges which have been ctr
cuated IN the community against the trustee, and ON
sSrele Sis l"f %%t a Sy The SsSs saSoy W .
Ss ns m S WI W I'VE e TsPay
by all persons Interested IN this groat institution IL
S @ Slo} Ssrss Indicate az 'oSSr q he
eu,es o. sa'ern,endeni o( Ihc w INSURANCE pepsr
BY afeet charge. Of maeasaSce in the %anssement
o. lie Mutual Life lnsuisgee Company Of New Yore.
ed with much distnoiness, and urged by sncn par
s aS ma MAJ he cSs e S % si 'S e G coS
Reny seemed oy every confederation 20 be negnndsi.
son. the interests involved IN 10 solyency and good
any unnecessary alarm was to DC deprccsicd was YET
s.sa eIs to 10 .f ind% s9' from % Se Sse S nsh o
,Ss
Esery sor, has Ia. been %sde to make sSs H.
vcstigation thorough and complete. Il has been
onRs over H@s s snnard cSar page. 1S
wei a.eis 9U q ii he % "a WI, have care
fully examined II Is but Just and liop before pro
state FEW TACT; in @ resop The pesasr @
s"S, s ns ps % had
OF speche charseler against the officers and trustees
ei such chaTee and %so s"sadsd u snd S
ne as o hy .orSsd 9r 'S S
Mr.. McCuioh and myself BY the officers OF the Com.
Here follow the charges sertai,n and the nndng Of
Ssp p4eeaa. r S zach Sss s fnsS %
columns IN detail The concluding remarks OF the sn
Having qndsstaken the examination Of the snairs Of
eoseas sspss eSssed % S
INSPECTION OF the asets and general nvostg alton OF
osy Se e .ss
opinion that the condition and .andinE Of The Mutual
iies Il % The eohSdenee of the public aud the high posi-
ing and position unQnesiionabiy in
sTeS due 70 ss &c sSsssy sS % and nds
iIeo special act in si ard was the mt Mutual Life
IsSuTe ee M .redset @ @ wn.,O 9rfseSs Sss ,
President ln lsS at which ,lms the assets Of the Com
hen Y force was s in.arng G ne sm.Sn, q tiTss
Eeuy had increased 20 The enormous Of ssislses
.unH nf q 'S' s SS to Of 0Ts Ss S o %
ne ySsT lS va aSSa! ,PS nc asset.
gage. apoS real estate, all except % abous e cScoc
New Jersey beng SP9a real estate sila.i. @ ills
re- POND with s sunua sIatensnt thereof made 10 The
Of snS sre s kss ss Il sTa
worthy frmsrk thai the strctet scrutiny into the
or ans When s ssoS ps amount
81 o money pa have f Seen 1S 'sG
one dollar Is dlseoysred TO have bo est BY the EN-.
ss.Iss psrnsp. not & ..rsnEs s .nss saeh Si
success sh"pid 81 excite no. only generous s IL this
As well personal and roisms II is 20 be
regretted that In the Officers agents OF
company should resort TO = vilincation OF another
company or It's ofncer, with o veN to I'D.
vancing the interests OF their own company
or Themselves: II there are charges Affecting
agement. seriously made upon prd Jacie reasona BILE
case deem his duty soon as practicable to inves.
uRate them. In makin these REMARKS no reference
Ia had to any company or person In particular They
are merely aimed generally a. what have conceived
TO be perpicous practice, In concluding tins ro-
port would say that entered upon this examinA
ton, certainly not pfedsposed to extend any special
iayor 20 the Company, but fully determined TO probe
TO metc out equal and exact justice This 10 the best
of ny ability have done. Personal examinations OF
the anaif OF companies viii be more frequent under
the present than they under the late admlnstra
tion ol the InsurAnce Department
IL VIII be Crafty ing II those examinations disclose
ereater irregularities nor cause more serious Appre
tensions for the future OF the companies examined,
than this has done. II any OF our Life Insurance Com
panies are sound and reliable the Mutual Life must DC
Icannot close this report without expressing my Ap-
probation OF the indeagAbe energy and research and
the valuable assistance OF Mr. j. W Mcculoh through.
out the investigation. and my acknowledgements to Tho
various officers and trustees OF the Com pAny for cir
ready compliance with all requirements, and their
general courtesy.
In language which have before used will snly add
=" My examination has satisfied me that the Company
has been managed with peculiar ability and intcgrity
aud that It's condition " eminently sound"
GEORGE W, MILLER, superintendent
STATE or NEW oRK,
INSURANCE DEPARTMENT.
ALBANY, May H, lblO.