The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1878-03-08
E "A Es LIT He $.

To the Directors Of The Mutual BrHeEt LIFE
Insurance Company:
The ThirtT-third annual statement of
the com pany is herewith submitted.
The account of receipts aud expeudi-
lures during the year 1877 appears by the
company's books, and the amount and
character of the assets ani securities are
ascertained by the report OF the Finance
Committee, herewith submitted, showing
a careful examination OF the books and
assets, in compliance with the Bylaws of
The company.
The amount and character of the liabil-
tiles of the company appear by the Math-
ematicians report, herewith submitted to
the Directors.
The total assets on the first of January
1878 were S33 Isl, SOS 10, ana the total
debts and liabilities So, $50, 625 Sc.
These figures show the assets at their
minimum, and the liabilities at their
maximum value.
The present market value Of the Gov
eminent, State and Municipal Bonds set
down in the asaets, as stated above, at
par, is in excess of such par value by the
sum of 81 ,203 Us -. The debts and liza
bilities on the other hand, are made up
with a view TO their hi Ugh est amount. They
Include the vHtuutions of All the comI,a-
Z nles risk $ eon~is 10 Of annqity, bonds
gregate are the reserve fund The amount
of that fund is $50, O3O, gs9 90 1t is com
puted as heretofore, on the highest OF nc
tuaries rate of mortality, and on inter
est at the rate Of per cent yearly-so
computed il is larger, by the sum Of 81
I3s, 1868, than il would be according to the
rates Of mortality and interest by which
the sutiiciency of reserves is tested under
the laws of New York.
III
include also the total dividends TO policy
holders, both those due and unpaid. and
those to be paid during 1878, to all poll
cies entitled to share in surplus, which
were issued or renewed in 1877. If the
assets should be taken at their market
value, and the reserve fund taken in con-
formity with the laws Of New York, the
balance of unappropriatod surplus on The
lst of January, 1878, would be the sum
of 81 242, 39I58. By the methods actual
ly employed, that is to say, taking the as
sets at their par value, and calculating
the reserve fund at the actuaries mortal
Ity, and at four per cent. interest, i'm ac-
cordance with the laws of Massachusetts
and New Jersey, by which the largest re-
serve Is produced, the Company balance
or unappropriated surplus is the sum of
S9Ol, 2O2 %. 1t is held as an additional
protection or guarantee fund against loss
es that may possibly arise from the de-
probation OF assets, or any other unfOre
seen or unexpected cause. 1t is larger
than at any previous time; at the begin
ming of 1917 the corresponding fund was
$500 $40. -
The various classes into which the Com
pany assets are divided are shown in
the accompanying statement They are
exhibited in the schedules returned to the .
Insurance Departments of different States, .
with fullness and minuteness of detail .
not here practicEle, especially in the
item OF bonds secured by mortgages on /
real estate.
Inc bonds and mortgages comprised IL
this item of SIP, 4I0, 094 90 are stated sim
gly and seriatim in the schedules return
ed as above. Printed copies of it are re-
urned to the State Departments, and are
also used Tor convenience of reference in
Inc company Office. The location and
extent OF the mortgaged premises. the
value OF the land, the amount of insur-
ihce on buildings, and other particulars,
are thereln stated, giving good facilities
Tor testing the accuracy of the item as a
note. The Investments on bond and 4
mortgage have always been carefully made II
~ me Com pany, in compliance with the II
by. laws, upon the personal examination n
i !, cert,ncate OF the Directors, and upon \
heir well-considered Judgment II
The changes in value of real estate 1
men nave taken place within the last
g" years, fully justify the care and pru-
renee exercised by the Directors in max
SA HA7LI AANDRETys. a