National Republican., 1877-04-12

NEW ADvERTTsxHEEIs.
STATE EXAMINERS RFPoRr
ToIrs
INSURANCE COMMISSIONER
REsrncrso TIE
PENN MUTUAL
LIFE INSURANCE COMPANY
or PHILADELPHIA.
The result, announced by the s,aie su,'oriIics-
THE PENN AT THE HEAD OF ALL PENN
sYLvANIA COMPANIES,
WHETHER STOCK OR MUTUAL
JANUARY 1, ls7T.
Total Assets ct Present Value. s,sISlos y
Iotai nes...................... A1aAoss III
Surplus TO Policy holders. .si,Iz.ils Is
IN THIS SURPLUS THERE Is NO LA
Billy FOR
y 4 U U n U RI a L.,
THE PENN BEING PURELY MUTUAL.
EXTRACTS FROM THE REMARKS OF THE
EXAMINER:
ExPENsEs.-"Thes expenses Of procuring
and maintaining the business. esnsid,rins the
amount Of new business obtained, are quite
moderate"
MORTALIrY.-"Ths mortality experiences
indicates ssod selection Of risnsr.
AssETs.-"The loan, upon Bond and Mort
gage, and upon colia,er.i. show q security equal
to all that Is claimed for then by the Company
in Its statement
REAL EsrATE-"The Real Estate owned
largely Of the Uompsny, principal once, the
rest being property bought in under foreclosure,
but producing, as . whole, fair interest in the
shape Of rents"
"THE ACTUARIAL AND BooKKEErISG
DEPARTMENTS ARE srsrENATIzED
WITH MUCH SKILL, GREATLY REDUCING
THE LABOR OF EXAMINATION; AND THE
GENERAL MASAGEMENT OF THIS CON-
PAyY EXHIBITS iNTEL ELLIGEScE. AN IN.
TEGRITY OF PURPOSE, AND THOROUGH
rypERsTASDISG OF THE BUSINESS OF
LIFE INSURANCE IN ITS rARIors RANI.
FIcATIoSS."
The following prefaces the report Of the sxan.
incr, Z. W. Pest, to the Insurance Conn,sssonsr
Of the State In reference to the Psunsyivanls
Life Companies:
! EXTRACTS FROM THE GENERAL RE
PORT OF E. W. PEET.
PHILApELrHIA, March Is. ls7,.
Hon. j. NJ. FoRsTER. Ia,urenee conai.,ioaer,
Harrissurg, Pa:
DEAR SIR: The present examination. ovins
to the agitation of the pu bile mind in relation /.
Life Insurance, growing out Of the disastrOa
failures Of some cOmpanI,, in sister States, ha
been made more thorough and exhaustive thu,
.ny.to which the companies Of Penn,yivaui'
have heretofore been subjected.
The thorough examination made by you Of II,
Real Estate. Of the Loans on collateral security
and Investments in Stocks and Bonds, enable yo'
to verify for yourself the correctness Of the.
several items. A, regards loan, upon bonds an
mortgages, all those Of any considerable ,nagnl
tude, as we'll as all upon which any doubts arOs,
were submitted to you, and are included in thi
statement, in accordance with your final ID
c'sion.
: Owing to your presence during tlr greater par
| OF theec examinations, Il Is haraly necessary I
state the methods used In arriving at the result
which are detailed hereafter. Sufice II to 50
| that all the ordinary and many unusual mean
| Of checking the correctness Of our conclusion
were employed, and there can be no reasonabl
doubt Of their accuracy. In particular, all thos
items In tho nature Of Contingent Assets, sue
as Accrued Interest and Deferred and Oatstans
| ing Premiums, which experience has shown In
many instances to have been the hidin place
fraud and earelessness, have been thoroughly d
yestigated in each instance. Premium Note
which, owing to their multitude and the labor
Gus detail Involved In their individual inspection
have usually,been overlooked, have, in every Il
| stance, been accurately verified notwithstandin
the delay thereby entailed, and an able to 81
that every item Of Assets which has been ciaIne