Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1877-10-11

ASSETS
Real estate conpany's Of
Real estate special 49,. 49O6S3 90
Loans on bonds and mort
cages Observation-Disclosures II ,o4o4O4 52
Premium notes $50 800 90
United tateS and other
bonds owned market
value) -. .............. 81O42O 90
Interest accrued on bonds
and mortgages S279,17T SO
Interest due and unpaid
ON bonds and mortgages 90, 51l 05
Interest due and accrued
premium notes. 14l 500 ~
- 643 189 90
Bills receivable. .......... II S13 "a
Deferred premiums. ....... 214,945 sc
New ...... 29,977 &c
Renewal I" ...... 1856 66
- 459,7S9 80
Cash in office ............ 2.75q 90
Cash in bank. .-.......... 627 2OS 65
~ ~ GIG 9s7 Sc
Ledger accounts 81, 552 SO
Agents debts. 1886 Al
--- g. 4S9 80
Eeduct compa-
ny's debts SRI 81
Deduct remit
tances acct. 9,792 As
1903 6S
-- 1925 81
Furniture and Fixtures -. 1925 90
Accrued rents. ........... 537 40
1853 as
Total assets. .......... $1s,4o8 523 %
LIABILITIES.
Death claims adjusted and unpaid. SlSS34T 90
atured endowments ............... IA 200 O..
Accrued commissions ............. S61 Sc
Premiums paid in advance 1881 ~
Reserve on policies entitled to paid
up insurance. Observation-Disclosures. 1,44S CO
Reserve, acturares per cent w 10 296.249 90
Total liabilities ....... 80. S15.521. 238 90
Surplus, regards policy holders. 1857 285 81
LOANS, BONDS, REAL ESTATE, ETC.
The investments of the company in
loans on mortgages on real estate
amount to $11 $40, 404. 80, being nearly
two-thirds Of its total assets The ex-
animation ofthis item develops the most
vigilant care and faithfulness in deter
termining the validity of titles and the
certainty of first liens on the property,
as preliminary to the placing of loans.
The margin of security appears in every
instance to have been largely in excess
of that required by the insurance laws
of the different states, being in the ag-
gregate nearly four times greater than
the whole amount thus loaned
But in view of the present deprecated
value of real estate, and tie existing
distrust in the solvency of life insur-
ance companies, the Examining Com
mission have caused re-valuation of
all the real estate on which the compa-
ny has placed It's loans. This re-valua-
ton has been made entirely independ-
ent of the company or its managers, by
competent and experienced appraisers
appointed by the commission in each
of the seventeen states in which the
loans are distributed. Under this new
appraisement the value of the property
except in very rare cases, is found to
be double or more than double the
amount of loans thereon, the gross be
ing S34, 254 ,405.00, or very nearly three
times the amount of such loans.
An examination of the company's
books discloses the fact that, as a rule,
the interest on these loans has been
paid with great promptness, an that Ill
cases of default the mortgage has gone
to foreclosure. The accrued interest
accounts in this and other departments
have been carefully computed, and the
results appear in the statement of as
sets.
The bonds owned by the company
have been examined and verified at
market rates as Of July 1, 1877. These
amount in all to 1910, $1,000
The company's real estate is the
building and land which it occupies in
the city of Milwaukee. This has been
valued by the commission upon the
best information accessible at the sum
of S250,0O0, the same value as fixed by
the company, which is nearly $4,000
less than its original cost.
An item of Especial Real Estate"
purchased under foreclosure has been
valued by the commission in the same
manner, and by the same parties who
appraised the real estate mortgaged to
the company. The valuation of this
class OF property amounts TO $500
$50. 90