The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-06-23

Respectfully, T. HOOD, Presi Tent.
STATE OF MISSOURI INSURANCE DEPARTMENT, I
st. Louis, May 10, 1875.
Hon. Frank P. Blair, Superintendent Insurance De-
partment:
SIR-Having completed a personal examination,
made at the request of the Directors of the Life AS
sociation of America into the condition, on the first
day of April 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 six per cent per annum
and the rate of mortality was that established by
the American Experience table.
The loans of the Association, secured by deeds Of
trust OF mortgage real estate ountipg to 81
2Ol s7s ST. have been carefully examines by one,
and close scrutiny made into the title and value Of
each and in cases of doubt Of the suiciency Of the
security inquiries were made of parties not con-
nected with the Association. Loans to the amount
of 81 7O5 81 have n,t been admitted, because of de-
fective security. The remainder 50 1884, 172 TO- is In
my pinion satisfactorily secured. The policies OF
insurs nee on pe1ishable improvements were exam
ned in every instance to sec that the policies were
in force and made payable to the Association in the
event of loss.
The values of the stocks, bonds and other collat-
erals pe6 ged for the payment Of S36 1873 o. amount
loaned on collateral, carefully considered In
each loan.
In the amount of premium notes and loans, $685.
042 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 estate owned by the Associa
ton stated at 7O 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,
Az g. This is tho aggregate market value LIST Of
April 1875 closely it was possible to ascertain
it. The stated amount includes $4,000 of Missouri
bonds and $l7, 1916 in United States bonds.
The amounts of cash hand and on deposit at
Departments, 81 1896 o. and Of interest and rents
accrued $50 1864 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 s3s6677 SO, we're ascertained by
an actual examination of the Associations books and
are all on policies in force and reported From
the above aggregate the loading $12a 92 e. has been
deducted leaving the net outstanding and deferred
premiums S257, 755 90.
The following statement exhibits concisely the
suit of the examination and shows surplus to policy
holders of 5000. 1914 90 all liabilities
Statement of the Condition Of the Life Assoc
citation of Americn, Of St. Louis, Mo-,
ON the first day of April, 1875.
ASSETS
Amount of loans secured by
deeds of trust or mort
cages on real estate. -. 81 1874, 172 70
| Amount Of loans secured by
pledges of bonds, stocks
etc...-.......-.-....-. l6,l9j w
Premium notes ana loans, rot
in excess of per cent
reserve. policies in
force 9ooa2 IL
Value of real ed tie owned
by the Company, taken
at cost, after deducting
all membranes. 270, 400 As
| Market value of bonds and
stocks owned by the
Company. ....... s1o,42a 80
| Cash in Office of Company. 943 e.
| Cash deposited in banks and
at departments. ......--. .71,052 40
Accrued interest s4,s64 30
| Accrued rents $500 81
Gross amount of
premiums
collected =. $685. o4s 50
Gross amount of
deferred pre-
| miums ....... SO 500 IS
s3s6,677 50
Deduct loading 1913 s92 SO
Total admitted assets ........... 81 247, 377 90
| LIABILITIES.
Claims for death losses in
| Guiding resisted claims. S153,ao0 90
Reserve on basis of Ameri-
can Experience table, and
| per cent interest &c., 3162.34O 90
Amount due for advanced
| remlttanceS f,VSA ~
Amount of premium notes
| on re-insured policies 17.0o2 90
| Premiums Maid in advance 3 O69 10
Present Liabilities as to policy holders. 1888 90
Surplus. ACKNOWLEDGEMENTS. 500, 1894 90
The investigation, conducted almost entirely out
side the business hours of this Office was partici-
pated in by Mr. W. J. Lard Cashier Of the Depart
ment and Mr.. A. F. HARVEY. The results of their
/ labors also are embodied in the foregoing report
which is very respectfully submitted
| c. KING Deputy Superintendent.
| LOUISIANA DEPARTMENT,