New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-10-06
s2.s77 20

ash UE %
Furniture, worm Tor use .-.-...-.-.-.... 1000 90
EOi safe perhaps ----..-.----- 1'''V ~
M Saias io' On property IN Sor6 Caro-
PROPERTY 1 g,s ND to be- Worth the amount
but no sle IN these times may b. o.ooo
Mo S,t teaee on i property in Noodle Ala,
to secure ...- ...---------- 'oA % roo 90
S5r'e &c % on cotton in.l Eaton, oooco
edison Comfy n y ier 49,, ,;.,. 5000 GO
The roperty Is worth lees expense.
en 'f''iiS rents ii. for Is per month ,ooo
MPS SiaaS. on aG' factory at Terryyie
N oeD occu i'S i BAD condition, worth
o SHsiiSSI Is 81 81 ' s55 10 s,ae - tlsts
ougLtto De a. Las chance sI,,, OF get
Wing 800 g. mated a S the soooo . ID 1850 90
On hone and lot ia west ssdst. be-
tTe.i STA and 9tlayca. FIRST mort - .,.,
vsia1 OF pr ai.cs. .-.......- $50 90
Mortgage worth css
Real associate STOCK of san Francisco ,ooooa
Present value unknown.
and properties appears o. be---.---.. slpo'oV' 70
Il i, too early 10 claim aud 20 estimate AZ liked
value asset the sum IN controversy between 10
Vel as til representative or The rights aud in
OF tie uocE-uoders az ur North American l1r lHsnr-
anre Company and the Universal LIE Insurance Com
pan5 ~ I ,r The treasr Of lis COMPANY Tha,
Tie Zee lyer g.. n earnest. VII prosecute , SUIT win
ygog ana with sucn expedition as l. course Of justice
vii alloa may be accepted a. one Of the fundamental
facts Of the situation.
LIABILITIES.
We viii now bring tor her, for final comparison, the
facts bearing upon tie question which has been the sub
cct OF this "a Jon, Of tie suciency oil the assets
credits and premiums Of the company, TO meek
and dischsrgs all its Obligations these shah mature
by ine terms there z Tine Liabilities Of the company
may be stated ffiowscn tie Whole business ol 20
company, in Is registered ana nohresiseted ueparE
pre..pt va.ue Of reg .terci policies IN
force. after deducng loans ana &C. 80 ,-,
Reri.IcrSi va ne On uataTed eaiowmeuis
Ii ii rs On s.tgie part OF eare BUS. cen
fG's sir yan a 81 s a err PREMIUMS s7I72ss
Nol Trelstel,e nItur,d endowment aud
' 4o s.f liability ....': 1857 iolls,s
Mis.eliIueoas liabilities. isst
ro,o,,,.f.tic, ...................... s9,925 s23
To meet and discharge the foregoing liabilities. tns
company appears 10 nave re ources IS follows;
For special orreqser policy ACCOUNT Of entire BUSINESS
Mia. Il BONDS and NOR, gages......-.---. sSl&Oat
United 1t ties uonds'.. o''V'o
To-al for special account .............. sl.Oo5e54
For gene al or an policy account; IA
Bonds and nior.g4 GEES .....---.-...-'- s9S'2vy
United states Donls---.----....''.--.-.-.- ooo'JoJ
PANTY ia real estate. ........-..-..-...- y, .
Other properties '''''''''''''' 4V''OVs
Total resources for entire business..... sI,27722s
There ne. Deen pai account OF the prncpi Of the
SIN of March $500 The $500 UaIied seae- 5--Os
deposited IN tue Insurance Department ior central
account nave been called aud pad OF. aud the pro"eeds
invested ID The pure asc oil to40O S"Ferumrnt f2 re.
cents. These are not material e!.-', ea are ~ 9oss sa
Department record
REVIEW OF THE SITUATION.
We are now prepared survey the situation, ands
whit Is the prospect the resources at command, OF
being able 10 meet aud discharge the Obligations Of the
company a. they shall The demands Of tho
situation are these Upon the entire business Of tue
company, we require or matured obiga0ns S227,l7s,
aud reserve, corresponding win the prese1t ytle
maj lrr -IlN4 Of .gl
ves'I as ~ yn ,lu 10 - sa9 sere we have but
81 IN 22s a deficiency s1.646,6Ol, aud these nos
"a tb, SUI, Of S927 rs m ready money which IL re-
ql'red to discharge matured policy obligations, the
company 70 on, "a. re must be futther sum IN
ready money Obtained nom some source, With whlch 70
relieve the properties tie company from The lieu OF
taxes aud assessments amounting exclusive of ih1se
being Confined for the present year. 70 not sss
than $4,000. THit ia. from tne asse's OF the
company, such as We have Described t9em 10
b. there must be realized at cer-
t,}nIy within a very limited time, S260,OO0.
L turn to the premiums TO be received. aud
see II here there not DC margin over the net pre-
MUM sufficient 10 make good some or all of TINS den-
ciaucy. We aud thai tie whole amount OF these pre-
niums from all po4 .es, Is bat $4,000 yer annum,
WlGn Wucu aier ying expenses, % meet maturing en-
pad up oau pOlc.es policy Income only amounts 70
eIs4OOO. Bu1 81 900 vi this income Is required %
carp ,nc pad up policies alone even upon me theoIe.
tel as-ut poems the ta0rs ana " the law concerning
NOR auty aud interest IAese paid ~ policies arc !.
themselves siAA u into the deep sea Of insolvency
But LEI u look litte further INTO THIS premium &c
count, III order To what can do Win r. out OF
ts 1907 OJO-Or including the loan interest, Sl-fOOo
seen, the maturing obsaOus are 10 De- PAID
The death clalus PAID la ths company m 1879
aloanle ed S204OOO, ana the matlred cnowments 20
S2s3OUO. This aowcyer, upon 4 considerably lar
ger policy list lnan sat present Bus fvr 1877 mo
eulDW ~ urAg amount o. eloJVOO III Wiz taAe
tns rnfe policy " ne present year jas, 20 pay
tue auug eudOwments leaV ng uOtlinE Nith which 10
pay either expenses death cialnsl But ihe latter
are now even tie present reduced policy Let, ma
tuning az the rate Oh neally e2OOOOo year Notices
deaths occurring a!tcr the appointment 81 the re-
criVrr. to nearly flOO,UOO, were nrd
WITHIN TX months aftCr his appOlniinrn IN TIE nShS
oil such lacts what s the SIN fcilce 81 OcggaIly
OF rlof,OlO with ~Hlch 10 ulscuAi 80
obu.aous ol over @3OJ.uOOl Tue case here - Ia nut
shell tue valuable paying policies have been, by surfcn-
der and ass guuent led Vui, ar they could be
reac.ed leaving. TIE most part Inferior policies ana
fnf.riur risAs. cunt OF lU.utrlA SKILL
nice Dal4Hclns OF haJAlty" against Reserve, Jan
here make good the cayrfnOus deficiency win which.
uDou every hand. We arr confronted.
In view of wuaI Is thus presentcd-whether tho value
OF uocles shat. 90 computed grOs." Or net, uheth-
Oidlu-" Of pgeuluns Is or may De, 70 or AZ
Der cent become wholly Lnaiatetia aud Irrelevant qles
lions. TIE facts OF the situation are stronger than
all mathematical formulas ana actuarial ass1Bp-
tons OF methods. and A. the ease before US c<nceru
ives only with tho financial possibility 0f making
two equal TO three and ha Bat eSon tue negre pre-
MUM account which seem able % cOnni4nd Ia ul
mst precar tenure The stOppngo PHI uI1s ana
line demand for Ad-up policies viii O-sn siuitaneous'
ly with order from this court drcclihy no recelNet
~ resume the colecon OF premiums ano the payments
of claims. Eyeu If the receiver could start unuaM-
meled by claims already matured, aud Win premium
ineome only charged wi,H fsure obligations WITHIN AK
montna ne would Mud ais trust DoyeesAly nsolschs
fr,n, the cutting of VI his resources irom premuls
through the surrender Of prsmIumpayiag poases& -