The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-06-18

By direction of the Board of Directors of this
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, Presi,e
STATE OF MISSOURI, INSURANCE DEPARTMENT,
st. Louis, May 49, 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
ISOLATION of America into the condition on the first
day of April 1875 of that Association present the
| following report:
As required by section l of the Act Of March %,
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 mortgage on real estate an ountrg to ~,
ST. have been carefully examines one by one,
and close scrutiny made into the title and value of
EACH and in of doubt Of the suficPncy Of the
security, inquiries made of part not con-
| nected with the Association. Loans to the amount
of st. 7O5 81 have nat besn admitted because of de-
| my opinion, satisfactorily secured. The policies Of
| insurance on pe1ishable improvements were exam
ined in every instance to that the policies
in force and made payable to the socatlon in the
event of loss.
The values Of the stocks, bonds and other collat-
erals pledged for the payment of sl36 1913 o. amount
| loaned collateral were carefully considered in
each loan
In the amount of premium notes and loans, $91a,-
O42 H. no note loan in excess of six per cent
serve has been included, any policies not in
| force.
The value of the real es ate owned by the Associa-
tion stated at 7O 400 49, represents its cost value
| after deductng membranes, no addition being
made for supposed value over cost.
The amount Of stocks and bonds owned, is $780,
422 g. This is tho aggregate market value on LIST Of
April 1875 closely it was possible to ascertain
it, The stated amount includes $40 600 of Missouri
bonds and s17, sa5 in United States bonds.
The amounts of cash on hand and ON deposit at
Departments, 81 1896 90 and Of interest and rents
accrued $685. 1864 e. fully verified. The accrued
| interest was not estimated, but was carefully COM
puted in this office.
The gross amount of unsolicited and deferred pre-
miums, aggregating $3s6,677 &c. ascertained BY
an actual examination of the Associations books and
are all on policies in force. and reported. From
above aggregate the loading $s 1872 49, has been
deducted, leaving the net outstanding and deferred
premiums $257. 1876 90.
The following statement exhibits concsey the re-
suit of the examoatiop and shows a surplus to policy
holders of 1906 1914 90 over all liabilities.
Statement Of tho Condition Of tho Life Assoc
citation Of America, of ST. Louis, Mo-,
On the first day Of April, 1875.
ASSETS.
Amount of loans secured by
deeds of trust mort
cages on real estate. 80 a. 1874, 172 10
Amount Of loans secured by
pledges Of bonds, stocks,
ETC.. l36, 1p W
Premium notes an loans, rot
in excess of per cent.
reserve. on policies in
force. 9IS,O42 ii
Value of real estate owned
by the Company, taken
at cost, after deducting
all membranes. 27O, 400 46
Market value Of bonds and
stocks owned by the
Company. - .... 3lo,42a 81
Cash in Office of Company. 943 81
Cash d posted in banks and
at departments. n,052 40
Accrued intere st s4,e64 30
Accrued rents $500 81
Gross amount of
premiums I'M
collected :. s,o4s 50
Gross amount Of
deferred pre-
/ miums 1895. 5000 IS
s3s6,677 s.
Deduct loading. 12s 1872 ss e
-- 257,7e5 CO.
Total admitted assets. 247,377 90
LIABILITIES.
Claims for death losses, in
Guiding resisted claims. s153, SEQ 90
Reserve on basis of Ameri-
can Experience table, and
6per cent interest. 1890. 3, 1862 $40 90
Amount due for advanced
remittances --.----------- JUL w
Amount of premium notes
on re-insured policies.---- 17.002 90
Premiums paid in advance 069 10
Present liabilities as to policy holders 3s3 90
Surplus. ............. seos, s94 90
The inve stigation. 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. Harvev. The results of their
labors also are embodied in the foregoing report,
which is very respectfully submitted.
CE. KING, Deputy Superintendent.