The New York herald., 1879-03-06
prosperity of western States. where all of its loans

Ioieuo 4,o'a,f'o ~ 1soA1''~o "
Kansas City. lO4,3oo 81 zoo,iio w
Marysylle. ..;.-..-.
Brooklyn. N. Y...-.. .o-oo oo
Pittsburg, Pa.
Baltimore. .......J
dbftlOru .....-.-. 3oo ,ZUU w tVo,fVo W
Total loans. S2s, 1896. .744 % $65.l45.s55 VI
Among it's other assets there is to be found under
schedule bonds Cleveland School bonds.
$Sl 900; st. Louis Chamber OF Commerce. S4350OO
and also Louisville, Jacksonville. Evansville. Fort
worth of shares out of New Haven and Hartford ap-
pear in its long list OF bonds and stocks.
CONNECTICUT GENERAL.
1t may be asked why the Eastern companies loan
all their money Western property and the answer
given to me at the insurance department was
Ihey 20 there to get their interest But not all of
them flourish by this man1uvre, though they may
succeed for time in getting nine ten and even
twelve per cent interest on the money thus ad-
vanced The of great farming property in the
West to-day the Eastern insurance companies, as
has been seen by the schedule of the Connecticut
Mutual real estate most of which had to be bought
in under foreclosure, and will also be by the
following cost value and actual market value OF real
estate owned by the Connecticut General:-
This company paid during 1878 Ss6.9S8 10 in death
losses and has aaoat 1882 policies, representing
this company to-day is located in Chicago, Toledo
Lucas county. Ohio; Jackson. Mich; Washington.
Palestine. ILL., All of this property has cost the
pany S27034 20, and is worth to-day 22l $3.50 "a But
1t Is the interest which is worrying them. and hence
have been ut great pains to ascertain how much
they get i'll return for their hard cash. fnd that
they have loans placed at Toledo at rate of interest
OF ten per cent Evansville, Ind. eight per cent
New Albany, Ind, at ten per cent Chicago. III. at
ten and nine per cent; Hancock county, ILL.,, at nine
per cent. where they have fars OF $50 and 200 acres
Adams county ILL.,, at ten per cent where they have
farms Of 100 and 2O0 Indiana State off, ut ten
per cent where they have hundreds Of Of farm
have thousands of acres Of farm land; 1878 loans
Iowa State of), at nine per cent, where they have
thousands of acres of farms.
The total amount thus loaned is $578,633 62. which
they value at S1,779,O0O.
rHK TRAVELLERS. OF HARTFORD.
The Travellers, of Hartford has in its life depart
ment ahoat H. 130 policies valued ut SIS, ,269, 1885,
Among its real estate find considerable farm prop
erty in Indiana 1900 They also own the
Terre Haute~ Opera House and also several lots and
buildings in Chicago and land and farm property in
Cook county. in all amounting to S49S, sot 81 The
its loans considerable farm land in Indiana becomes
conspicuous some Of it paying twelve cent and
Land in Kansas and Illinois. The total amount Of
loans placed by this company is $2034,3lO 3A for
bonds forming part of its assets Topeka Indian
apois, Oswego, Hartford City bank and also few
Hartford National bank shares.
THE NEW ENGLAND MUTUAL.
The New England Mutual Life Insurance Company
has 49, 2O2 policies afoat, representing a value Of
$50, 154379 In the line of its bonds and mortgages
are loan of 100000 on Odd Fellows Hail. New York
in Grand street and loan of $50, 900 on Church
and White street property me rest OF its loans arc
loans is $2.259760 VI. representing valAe Of
81, 4,259, 100
The Massachusetts, Mutual. of Springfield. Mass.
has 1888 policies. amounting to value Of
$50. $50. This, company. more than any other
that has come under my notice has loaned on poll
cies "cash amounting to $4S.99O and its loans Of
S299O 147 are principally secured by mortgages on
Springfield. Chicago. Indiana. and St. Louis prop
erty.
THE MUTUAL BENEFIT NEW JERSEY.
This company, doing business in Newark and hav-
ing afoat II, 764 policies, representing value Of
592. paid in losses last 81 4s9 5O It
has the most unbounded faith in the immediate
future of real estate, will appear by the following
schedule attached to its annual report
Companys Office Broad street, Newark, S294.372 %;
real estate at saos under foreclosure ~ 2 ~ These
New York and New Jersey and are in many worth
Tho care negotiation the
s sS u 70 the oa s. IS or Sr
amount below the cost Of the property the dsrenec Il :.
hitherto and the increasing Of
IN the ffs s &
which they valued in The : too few and ncon
Unaer its list OF bonds are to be found Elizabeth
IN. J per cent bonds. whose total par value is
given at $685. 0O0 and whose market value is S6s
also first mortgage bonds Newark and New York
Railroad full issue O.000 par value S573.0OO. and
market value $3.50 300. This company has loans on
Fulton avenue. Brooklyn, and Third street. Brook.
I'M; also SOS 900 on three lots in Greenwich and
Washington Streets New York. S60,000 on the cor
ner Of Howard and Crosby streets. and the rest of
it on Essex and Union counties IN. J.l property.
amounting in all to $9.s53.5s2 A.
MORTGAGES THAT HAVE BEEN PAID OFF.
UNITED STATES LIFE INSURANCE CoMPANY.(
New York. March 5. 1872
To THE EprroR OF THR HERALD:-
In your paper of the Sd inst. appears what pur-
ports to be description of the mortgages held by
this company. Such description is inaccurate to
the present state of that account. appears to
that it must have been taken from statement rem
dered to the department some years since. very
many OF the mortgages therein described have been
paid in full and are not now owned by us. others
have been paid part For instance loan therein
referred to for $780, 900 property in New York
city. was wholly paid of in 1877, and as
being for $4,000 upon property in Englewood. N j..
has been paid down to $15,OO0 and many others in
like larger proportion. The company have re-
Gently examined all their loans upon bond and
mortgage, and believe in every case that the
security for all the money loaned by it is ample,
and as corroborative of that opinion would state
that the whole amount of interest in default Is
but $S327 10, which is but four-tenths of per
cent upon tho whole amount loaned OF 81 900
and upward. The company now own of real estate.
purchased upon foreclosure during the past thirty
years of its business only $l39O0O. We submit
whether any company or individual can make a
better showing ut the present time for such an
amount of like loans Yours respectfully.
JAMES BUELL.. President.