New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-10-09


The investment, Of te company u loans on mortgaF' on
real estate amoqn' to II ~ beng 5esr ,@o ,s
most ygiant care and a'th.n.,s IN rInnF tg 't. =
appears "a every ns'ns 10 have been l,rs IN sN ., Of
being m he agg-ae nearly Tour times greater LiA 'hs
hut in view Of The present deprecated Of real estate
and tine existing dsrj n me soivency o. Ire .ce com
loans HI. rryI.tor ias been made cntrv INDEPENDENT
company oriis managers. hy competent AMI expert
cnc APPRAISER appointed oy he comm ,sn 10 elcn % ihe
t4a apursemen, te aur Of lhe property eNcspi in
,eiy raie cl'.a D. iJlil D J' 1o or n i5 nv y~v
nearly three times the amount Of sue9 loans. .
that rs rule those loans hls paid with
esl prong ss8 aud that OF 4,Lgls mortgage
th. and other departments have been carrfay computed aud
.eretllts appear in tle ataiemeIi oi +3sets ,
5o m rse ra ny rs d J s77 rhss amount IN
copaays real estate f. ne building and sna Which it
Che commission upon he Deso Information accessible al he
which is nearly s7j 900 Jess than Dos original cost
M aa ' fas i1ie o-Ttes VIC apOrl.ed III, 70. estiie
uorgaled tle COMPANY IAe value OF tls class Of prop
trt, I.4. lu-s 10 Fi30,o'3.
Premium Notes. onistandi and Deferred Premiums.
IT vii Dee sn That tae pr % n1,e. nov he'i by the CON-
rf. eni., rriort1 g Do. company aeccut. some
cule- lI'ae nous ta' D, .7i'J 81, -,' '-a
verdict aao have De- % .oNAd ~ t'y 4s.dct I'd ~ riiI
Valid asset Dot against ,ns policies themselves ana their
In ts connection the company loans on policies IN '.rce
have ben lya. ... 70 ',tr oty a .i.-fi l..'oh Of
tle ressr o boz elca vase. ana tf. therefore equally secure.
~ - also .g1na tl1t a .in notes. wish accrued ,nifr
.-.ef ov,1f " ,, , "A ~ .. i ne lo, p. ~ ia
Ie Outstanding deferred premium accounts have been
exuuri Seem uy i.en ami .eir correctness fully verified
9 ,. ,5ac, Is nS, LARGELY l t1c5ss 81 tc 8rm
t ,sirr-,li premium. ami a.rici l,.-s--t when aa Ia,
|H HHH d. y d .
OF what to company computes As Llt 1u-rvAdcf
Premium Reserve, surplus, Dividends csc.
The uct premium rter compltedu) theAcuAue7 table u
'I, r a9s.i or ,tolt six time he efrat
yearly premium income 4 . reserve aLa o. el assets Of .e
COMPANY a. uy',,d a. an ann % elsi Oh ipo-t
t ye9T nearly or qi,e 100000 On our and Laf per
cont reserve the STANDARD oil Maryland, Wisconsin AeYos,
Ienn-ys4ail OHIO and many yaer states the surplus NI
holder. o about 1000 90 more au thn e4acil- yllua
r2n 9es 6y 65cyaSsrs st IN t6as stss, D'
After making an proper allowances Tor depreciation ~ val
VS. 81 over iour pei reserve and a and halt
$685. -sj 2-ln amount which very concusivey exhibits
Neary haf 81 The surplus annually apart De
OF the many possible contingencies liable
IN year such - nusua mortality nneApect"l losses
divide nds actually paid individual policies appearing
The number Of policies Ia force az the iate named was
MUM reserve policies has been carefully computed
under direction experienced actaes, NOT connected
company thai there can De no question As TO It's accu
a. ter of information may be proper state here
July 1875. this company assumed Tie rks o e Mn
urs0ta Mutual Life Insurance Company, amounting 10
an 100000 twelve hundred lives Every policy mold
included In ths ARRANGEMENT asented thereto and every
policy assumed been valued ~ Oh age ana cate ~ ISSUE
aud Is original conditions and a rights accrulns II connec
Incomes Expenditures. etc.
The gross Of tho company for the FIRST six months OF
-Jl3 the average annual amount
cghths ~ the present income aecii.- oh ennn seteps
ana balance from interest and rents A. Indicating the
fron il may that the interest receipts have
been nuch than sufficient 10 pay Us death losses aud
working expenditure for several years past
ffe more than tenth Of the annual Income absorbed
I'M le working expenditure OF the company With the
erIp bv mo company Of Al cent OF its business
which have been extngllshe. the cost or coec
agents, including travelling Expenses s Wen A. eohussiohs
ana salaries about per cent OF ths premium
sr cont These percentages include
ao ~ the entire WotA- eNpenGltufee lhe cOmpa
rrue largely the wide distribution ~ it, loans iu
deuusly placed We think. IN comparatively small
re expusos travel AMI examination being thereby greatly
enhanced ..,. - b.. l.. ID. .,. -. ...
covering period years. has shown tnat only
paid - officers anu employees. and
ston whatever contingent the business Done Or by
o commission surus or in any other manner Than BY
salary established annaJ ~ Enc b"atu OK trustees
Conclusion.
IL ia ue 10 the company 10 books and
IN verv department OF - busess show adegrce OF accuracy
easily SURPASSED Ia the actuarial depaI thr RECORD
Kent Vie OF accountability aid accuracy throughout
ruds unqualified approval
Jesse h. HINES
Insurance Commissioner for Maryland.
PETER boa IL, SECRETARY OF S,a.e