The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1881-08-11
Valley Mutual Life Association

ITS FINANCIAL CONDITION AND PROSPECTS.
The ,s'Valley Mutual Life Associa-
ton" is an institution of which all of
our citizens are proud. As evidencing
its wonderful success, we copy the fol-
lowing article from the August number
of the Association Journal.
Two years and ten months have passed
away since the VALLEY MUTUAL LIFE AS
ISOLATION was organized and commenced
operations. At the outset, it was an ex-
pertinent not without hazard to its stock
holders. Few, if any of them, had any
experience in the management of such in
stitutions, but having maturely studied
the principles on which ours was founded,
and having confdencein them, they felt
warranted in making the attempt to in
troduce system. of life assurance which
offered to the public two very important
advantages, viz security and economy.
The practical results have shown that
their calculations rested on solid basis.
Their hazardous experiment has| proved
a brilliant success. The Association has
grown rapidly in public confidence, and
we doubt whether any similar institution
has, in SO short time, expanded into
such colossal proportions.
To show that we are fully justified in
using this strong language, we need only
refer to the following facts and figures,
which are taken from a recent report
made by the President of the Association
o the Board Of Directors, which are
therefore official and authentic, on the
Ist of July, 1881:
The No. of policies issued in the male dept 1855
81" o. q" +" female s. 2O3
Whole number of policies issued ........... 2,76S
Amt of insur'ce in force 1st July, 1881, male -
Amt of insur'ce in force LIST July. 1881, fe-
male department. .................-..' az' ooo
Aggregate in two depts LIST July, 1851. 500
Assessment basis, male department........ 5,71s a
I" 6 female g SOB Us
ESTIMATED INCOME FOR YEAR ENDING SEPT, 1884,
From snnuals male department $40 200 600
Premiums and collections. ................ 6 600
Aggregate ACKNOWLEDGEMENTS. 28,35O
Est ri amount Of expenses salaries, rents. 5000
Est'd excess to be added to reserve fund. 1880
AMOUNT OF RESERVE FUND ON 1sT. JULY, 1881.
Amount cash in hands Of Treasurer after
deducting all charges against 1t ...... $10143 So
Amount loaned on unquestionable security $3.50 90
Whole amount of reserved fund to meet
any possible contingency. 1923 So
1t Is proper to add that the Association
had, at one time, S., 900 invested in u. S.
$ per cent bonds, but under the policy of
the present administration, the bonds
were called in and paid off. This is the
reason why SO large an amount, in cash,
appears to be in the hands of the Treas
urer. The Board, however, at its July
meeting, ordered $4,000 to be invested
in 31a per cent U. S. bonds, and $1,000
to be loaned to citizen engaged in an
important public enterprise. This loan
issecured by the bond Of the borrower,
bearing per cent interest, with nineteen
solvent sureties. Every dollar of the re-
served fund therefore is now, or will in a
few days be, invested in securities of un-
questionable solvency.
AS has been shown by statement un-
der head of Estimated income for year
ending 1st Sept, 1882" the amount
which will probably be added to the re-
serve fund will be. i. ID. SIo,35o 90
Add present amount of reserve
1unQ x ..-. I5,423 80