New-York tribune., 1871-05-06
OFFICIAL REPORT
Superintendent Of The NeH-YoE Insurance
Department.
MADE TO TuB LEGISLATURE CONCERNING THE CONDITION
AND STANDING OF THB
KNICKERBOCKER
LIFE INSURANCE CDMPlljY.
LIFB INSURANCE ClIIPAlJY.

IysuRAvcH DEPAErs.Sr,l
ALBASr EgyYORK, Aprl ~, loh.
Por,up, to the ,a,hoy By law and in accordance with
an mention expressed in ny report OF 1870 to the Legislature
Of this State made and au'ed to be made certain eiamHhon
into the % and condition Of the Insurance Companies doing
bqar.,s in this State
counts assets .,d general condition Of the KNCKERBocKEE LIFE
INSURANCE COMPANY Of NeEYOrS Instituted That eramna
ton h lust been completed although the annual report referred
TO- a. va, distinctly announced beed not be considered as en-
ipuon upon standing any Company that it ia rnder eIamn
uou STILL as 1t is claimed effort has been n'de to use the feet
prod Investigation In this case the disadvantage Of the
Company the Company Ard O to the public make
report Of the result Of such examination.
The examination WAS not consequence specific charges
r the CompADy or , management in accordance with the
general intention ,bove referred 10.
TIL. KYICKERBoCKRR organized in ls53 capital Of
$4,000 yea s progress was O" hhce i''
however its bun rapidly increased until appears By the an
nu, statement condition of the cOmpany December 81 1907
bad outstanding 27o policies insarng the sum Of s6' with
aggregate assets Of se6sOse5 and aggregate liabilities Of s5aSo
There were bat three companies organized under the laws Of NeSYork
which reported larger business done assets Tie
bunne Of e Company note PLAN and consequently
qai.e large portion consisted Of premium notes
had been n,mated companies quite careless in regard
the accuracy and that notes frequently
included among ,h assets which we're fact Eeu for premiums upon
policies not in force, and hence Of no value.
The KSICKERBocEER, being leading note Company IT was
thought best early date practicable thorough nves'
ag.tOn Of all it, Affairs settling this ard other qaestOas
stleas $ Al $ that Company concerned.
The examination extensive aud exhaustive All
notes. in the aggregate to 2o in number have
been separately examined compared with tie entries
the books they have without exception been found to be notes
given upon policies All the other Of the
Company have also been subjected scrutiny and quite
large standing upon the books against have been dis
allowed Company win doubt be able ultimately to
realize but which vane prevent their being
allowed in ny estimate condition Of the Company
Notwithstanding thorough srg which the Assets OF the Com
pny have been ecte however happy be able to state that
they day Of January ls to the Of s72o
g3 S. while the liabilities including fund and capital stock
amounted to se8H9s &C. leaving. su, Of assets all hab
ties, Of sl75 So This surplus however, would be increased to
s5oes2 o. BY including dsaowel above stated which
are claimed by Company valid available assets thus show
ing the Company entirely entitled the confidence Of
it, pO!cy.hOd and the public
pesrre be able to that the Company
has adopted policy rapidly possible abandoning the note
,yem and eseeng upon Tie ash basis and that With
this and Oer improved method, adopted the extensive
business already established the Company proee: continued
suceei,
want Of lne. bey .Ow, policy boxers bat far a, the
facts appear from my End TIE KNICKERBoCKER
bs, bonOraby promptly discharged al, legitimate claims the
srO paid upon policies it, organization amount
ing TO s2ss @ g. besides dividend. paid policy holders amounting
to ss9sc4ss.
In view Of the facts d.clO,ed warranted in saying that the
Company i, entitled to public confidence
GEORGE W. MILLER
ca. II