The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-06-08
LllIl ASSOCIATION
Of
AN A.

NEW ORLEANS May %, 1875.
70 Policy Holders in this Department:
By direction of the Board of Directors Of this
take pleasure in submitting for your
consideration the result of an examination OF the
affairs of the Association by the Superintendent OF
the Insurance Department Of Missouri
Respectfully, j. B. HOOD, President.
STATE OF MISSOURI, INSURANCE DEPARTMENT, !
st. Louis, May 10, 1873.
Hon. Frank P. Blair, Superintendent Insurance De-
partment:
S1R-Having competed personal examination
made at the request of the Directors of the Life As
ISOLATION of America into the condition, on the first
day of Aplil 1875 of that Association present the
following report
As required by section of the Act Of March 20.
1874 for the purpose of making this examination the
rate of interest assumed was six per cent per annum
and the rate of mortality was that established by
the A me1ican Experience table.
The loans of the As ociatioD, secured by deeds OF
trust or mortgsge real estate an ountirg to s.
2O1 s7s ST. hay bsen carefully examine one by one,
and close scrutiny made into the title and value OF
each; and in of doubt of the suciency OF the
security inquiries were made of parties not con-
nected with the Association. Loans to the amount
of S. 705 81 have MT been admitted because of de-
fective security The remainder 81 1874 172 TO- is, in
my pinto H. satisfactorily secured. The policies OF
insurs nee peiishable improvements were exam
ned in every instance to that the policies were
in force and made payable to the A. socatlOn in the
event of loss.
The values of the stocks, bonds and other collat-
erals pied ged for the payment of $36 1913 o. amount
loaned on collateral carefully considered In
each loan.
In the amount of premium notes and loans $685.
O42 H. no note or loan in of six per cent re-
serve has been included any on policies not in
force.
The value of the real es' ate owned by the Associa
ton stated s27O 400 49, represents its cost value
after deducting membranes, no addition being
made for supposed value over cost.
The amount of stocks and bonds owned, is $780,
1872 g. This is the aggregate market value on LIST OF
April 1875 as closely it possible to ascertain
it, The stated amount includes $40 600 of Missouri
bonds, and ST. 95 in United States bonds.
The amounts of cash on hand and on deposit at
DEPARTMENTS ST., 1896 o. and of interest and rents
accrued sas 1854 81, fully verified. The accrued
interest was not estimated. but was carefully COM
puted in this Office.
The gross amount of uncOllected and deferred pre-
miums aggregating $3s6,677 &c. were ascertained by
an actual examination of the Associations books and
are all on policies in force, and SO reported. From
the above aggregate the loading &c. has been
deducted leaving the net outstanding and deferred
premiums $257. 755 90.
The following statement exhibits concisely the re-
suit of the examitatiOp and shows surplus to policy
holders of 1905 994 90 over all liabilities.
Statement of the Condition Of tho Life Asso.
citation of America, of St. Louis, Mo-,
on the first day Of April, 1878.
ASSETS.
Amount of loans secured by
deeds of trust mort
cages on real estate. -. 81 1914, 172 10
Amount CT loans secured by
pledges OF bonds stocks
etc. 1856, 1893 o.
Premium notes ana loans, rot
in excess of per cent
reserve, policies in
force. 91s,042 II
Value of real estate owned
by the Company, taken
at cost, after deducting
all membranes. 270, 400 46
Market value of bonds and
stocks owned by the
Company. . 3lo,422 60
Cash in Office of Company 943 u
Cash deposited in banks and
at DEPARTMENTS n,052 40
Accrued interest - e4,s64 80
Accrued rents. .----.-----... 3,5OO 81
Gros, amount of
premiums
collected .sa9s,o4s So
Gross amount of
deferred pre-
miums ....... s., 500 IS
s3s6,e77 IS
Deduct loading. 12s, s92 SO
2577e 90
Total admitted assets ...... a. 247,37 OF
LIABILITIES.
Claims for death losses, in
Guiding resisted claims $153,ss0 90
Reserve on basis of Amer
can Experience table, and
per cent interest. 3162.340 90
Amount due for advanced
remittances. -----..---..-- 4,09l W
Amount of premium notes
on rensured policies. 17,002 90
Premiums paid in advance. 3 069 10
w
surnlus. 1905 1874 90
The investigation. conducted almost entirely out
side the business hours of this Office, partici
pated in by Mr.. W. J. Lard, Cashier of the Depart
ment and Mr.. A. F. Harvey The results of the If
labors also are embodied in the foregoing report,
which is very respectfully submitted.
CE KING, Deputy Superintendent.
LOUISIANA DEPARTMENT,
ONCE, 1S9 Gravier Street, New Orleans.
OFFICERS
President Ge Gen. J. B. HOOD.
n..s. 81. F. GENERES.
wee fIesldents-- HENRY V. OGDEN.
Attorney Gen. r. L. GIBSON.
OBSERVATION-DISCLOSURES SAMUEL Ella" En-