The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-06-15
LOUISIANA DEPARTMENT

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NEW ORLEANS, May -, is75. \
To Policy Holders in this Department:
By direction Of the Board Of Directors OF this
Department I take pleasure IN submitting fbf your
consideration the result Of an examinations of the
AFFAIRS Of the Association by the SuperinAndent Of
the Insurance Depa, tment of Missouri,
Respectfully, J.B HOOD, Presi Ient.
= e. esH ~ --------.a 38ssaF oa 81
STATE or MISSOURI, INSURANCE DEPARrMENT, I
st tstagif5at,ibs ST. LOUIS May 10, 1875.
NJ. Il
partment So
made ct the request of the Directors of the Life AS
ISOLATION Of America, into the condition. the first
day Of April 1875 Of that Association, present the
following report: ~
As required by section Of the Act Of MafcKss,
1874 for the purpose of making this exainAton the
rate Of interest assumed was six per CONT psr nnum
and the rate Of mortality wac that established by
the American Experience table, s,,se ssa ~ t'rsg
The loans Of the Association. secured by deeds of,
trust mortgsge real estate, amounting to e.
20l $40 ST. have been carefully examnes one by one
and close scrutiny made into the title and blue Of
each; and in Of doubt Of the suiciency of the
security, inquiries were made Of pazties not cor,
nected with the Association. Loans to the smoupt
Of 81 7o5 81 have not been admitted because Of de-
fectve security. The remainder w. 1914 179 a. H. In
my opinien enthusiastically secured The policies Of
insurance on pelishable improvements were exam
ined in every instance to that the policies
in force and made payable to the Al socatlon in tho
event of loss. qsaal
The values of the stocks, bonds and other collatr
erals pledged for the payment of $l36 1873 o. amount
loaned ON collateral were carefully considered In
each loan. 7. 5..ss..,f ..,..a..ss.f =
In the amount Of premium notes and loans, $685.
042 H. NO note loan in excess Of six per cent re-
serve has been included nor any on policies not IN
The value of the real estate owned by the Assoeia-
ton stated at s2o 400 46, represents its cost yalae
after deductng membranes no addition being
made for supposed value over cost. "" ouT
The amount Of stocks ana bonds owned, ID $780,
AZ g. This il tho aggregate market valuS OF LIST Of
April 1875 asclosely it possible to ASCERTAIN
it. The stated amount includes $40 600 Of Missouri
bonds and 81, as5 in United States bonds. 20 Il
The amounts Of cash on hand and on de1oaitlaA,
Departments, $7l,996 22 and Of interest and rsnte
accrued $as 1854 81, fully verified. The sccrued
interest was not estimated. but was carefully com.
puted in this Office k.5 s.t ,.s..t 7s'ts'
The gross amount of uncollected and defarrSd pre-.
miums aggregating $3ss677 90, were ascertaihed by
actual examination Of the Associaticns books and
are al on policies in force and % reported From
the above aggregate the loading, e12ss9a 3d. basbeaa
deducted, leaving the net outstanding and deferred
premiums $257,7s 90.
The following statement exhibits concisely the 70
suit Of the examioaton, and slpws surplus topoicy
holders OF te06 994 90 over al liabilities $50 ~ :
eeatsncne Of the Condition Of Ne Life lAssS.
% ciatisn sf Ansrica, Of 81. Lewis, Mo-,
~ en the FIRST day u April, 1876. 70