The New York herald., 1877-10-18

saEDas nsal laslss. as lsssa. policy sss s
LOANS. BONDS, REAL ESTATE. &C.
>, rsa hs % IN y loans on
III: k Of this nsis sem ds
validity lss the he first isns On
1ns to the pasng Of loans Tho
largely required Sy nee laws Of
times greater than the Whole '0u'
N we view oi the value S Of real es
.nss companies the Examining Commission have caused
has placed its loans This revaluation has been
sirey Independent Of the company or its managers BY
Commission IN each Of the States in which the
value Of the property. very cases found
70 S asas be than the Of Saas
times the amount of such loans.
fact that rule the interest on these loans has been
fs,d with great promp.ness and tina. in aeiaat
teest accounts in this and other departments been
carefully computed and the results appear in the state
The bonds owned BY the Company have been examined
amount in all to $50 APO
it city sf
BY the commission the best Information
pany, which is nearly $4,000 original cost
has been Valued by the in the
and By the same parties WHO appraised the real
FEEAl'A NOTES rRihGMs DI5SlASDiss sG AND DEFERRED
s Be sas s S s. ss BY a
nth entire assets Prior to 1872 the Company
Ths been
examined and verified and have been found in every in
therefore, and valid both against poll
esnnscon The Co%uanys oans on policies in
force have been invariably found to only limited
portion OF the reserve in each case, and therefore,
it is also found that all premium with
terest If any. thereon deducted from policy claims
when such usage being Of '.s
notes. also OF the observance OF good faith toward all tho
Tho outstanding and deferred premnm accounts have
ss to y add thar ad ne %
which the reserve policy is not largely of
sss when latter occur Believed that the notes
are n any case in excess Of what the computes
fshSHt% mi 'sI'iaas REsEKvs SURPLUS DIVIDENDS &C.
ssI; ss.:
yearly As
and other assets of tho company invested nc annual
mis- being the standard followed by the company Will prob
EsooooO four hall per the stand
PHO and oiher states the surpns viii 10 essura
mos "n the % essn
rcpsrteds fact which viii probably receive due consders
ton BY policy holders resident in those States
After making All proper allowances ior depreciation in
four psr cent rsssSe and and iDui
30 ss very Ss
Nes bs :" hs surplus ina IS ss np to be
premiums dividends pol icy holder In con-
sideraton 0f the possible liable
cur Ia any year such as unusual mortality unexpected
LOSSES reduction OF &c. division surpns
seems 10 have been liberal prudence equity
warrant-tbe dividends actually paid individual policies
appe airing TO be unusually large.
The number OF policies In force the dato named
SJ,9o9 covering AN aggregate risk Of S61 So O62 Inc
computed under direction by experie actnaries
not connected With the company that thcre can be
question as 10 Its accuracy.
matter of information IL be proper state here
that III July 1870 this Company assumed the risks OF the
Minnesota Mutual Life Insurance ompany amounting TO
81 10000 some twelve hundred lives. Every policy
holder included in this and
every policy assumed has been age date
ssne and its original conditions ali rights accruing
connection Herewith have been faithfully observed
The gross Of the Company first ak months
OF 81 ,729 37o the average annual
amount tor the last i've years having been x39i
ghths Of the present
receipts and the bal ance from interest rents
indicating the character OF the Conpany
and the large interest thereon IL that
the receipts have been than
deah losses and working expenditures for
past
the very mode compensation paid agents the
soute by tho company of per cent
OF the business which commissions nave been
ruighcd, the OF collection is reduced minimum
ratio Thc compensation OF agents, including travelling
cxpcnscs we'll commissions and sails aries
nbou eight oil the premium receipts the commits
sinns alone averaging but fraction six and half
pcr cent These ncnde old and
but ratio OF the entire WORKING expenditure OF the
company gross shows higher figure. the In
issus udciously placed, - We think In comparatively