New-York tribune., 1873-01-07
BUSINESS ENERGY AND SYSTEM.


The publication of its annual statement by
the United states Life Insurance Company the fifth
day OF the New Year deserves notice for than
reason. In the first place affords convincing proof or
the energy Of the Companys officers and the systematic
management OF its affairs That transactions involving
the issue of nearly four thousand new policies, the
writing Of nearly nine million dollars OF insurance,
the handling Of millions Of cash assets the aecumu
stion and investment according TO law Of more than
million ana third OF premiums and interest in addi
ton TO the judclous and conservative management OF
all the accumulated business Of the Company could be
50 conducted that the balance OF the whole year could DO
struck within five DAYS after its close constitutes
event deserving the attention OF the business public 1t
may however surprise the competitors of the United
states Lite more than any one else by showing them
what the systematic employment OF time throughout the
whole twelvemonth accomplish. In most cases, the
companies have their idle and seasons, suffering
work 20 accumulate upon their hands throughout the
Summer until 1t pushes them hard in the Fail, but
the managers OF tue United states Life taking time by
the orelock keep their actuares and clerks so con-
SANITY busy that when the last Of December
come 10 hand by mail there nothing left but to close
p the almost completed and lay the Company
financial condition before the public. The fact shows
also the entire soiyency Of the Company and the nteg
rity OF It's management 1t has wildcat investments
10 cover up no suspicious loans TO hide, great bal
lnces in the hands OF agents" which may never
reach the home office. By reference 10 the
statement elsewhere printed. it will be seen that
while this Company received more than 100000 moro
from its patrons this year than last. it reports only
7523 90 in the hands Of agents, against s2O3 81 last
wear at the same time examination Of the latest
mort OF the superintendent the Insurance Department
will disclose the fact that the OF not few life
companies this item figured from six to ten times
much IN proportion TO the business DONE The fact is
that one secret OF this result is 10 be found IN the COM
paratiyey close concentration Of this Companys bust
ness Last year it had agencies in only nine States
and this year it has in only twelve or the
thirtyseven and thus supervision ts agencies
Is more constant wetchfu and thorough; WHILE at the
same time its expense account is materially kept under
STILL again it will be seen that there idle balances
in bank drawing Interest," but the great bulk OF what
may be required immediate s 10 be found in trust
companies where IL at least much interest az
the reserve required by law.
II will not escape the notice Of the customers OF the
Company that upon the valuation tests prescribed Dy the
law of New York viz: the American Experience Table
Of Mortality and interest at four and half per cent per
annu the twentythrd annual statement shows that it
mas an actual surplus OF assets over liabilities of nearly
one million dollars o955s 9s, and surplus as regards
policyholders Of s 5s 93 In other words, every
ugency pointed out by scientific research and deduc
ton is provided against. and for every dollar
that the United States Life Insurance Company
can be called upon to pay, 1t has already laid
by and instantly available dollar and thirty cents; or.
to be more exact 33 620o If the recent controversy
between the companies about the proposed reduction OF
rates accomplished nothing else, Il certainly aroused
general interest tn the whole subject OF life insurance,
and this of President DeWitrs admirable cor
poration coming out advance Of all others, viii be
widely read aud iye renewed confidence in the beneh
cence OF the scheme which II is aiding 70 carry out