The Portland daily press., 1884-02-02
SOUND TO THE CORE.
An Interview with Gen. Sweigert
on Union Mutual Matters.
NE Gives Flattering Statement of the
Company's Condition.

Yesterday morning reporter for the PRESS
had an opportunity for an interview with Gen.
Charles P. Sweigert, auditor general and H.
surance commissioner for the State of Illinois,
who has been engaged on the valuations of the
real estate owned by the Union Mutual Life
Insurance Company of Maine in his State, in
which State the bulk of the compauy's real
estate il vestments lie. General SweigeTt is q
gentleman of medium height and figure, very
erect and sodierly IL appearances, with black
hair and brunette complexion, keen glance
and cool, collected manuor. He is very
pleasant and greeted the reporter very cordial
~ The general is deprived of the use of his
right arm, which was ken eff at the shoulder
by shot in one Of the battles of thelate var
The following quet ton and answers passed
between the reporter and the Generals
Q-What is tina result Of your examination,
General, of the affairs OF the company?
A.-The result Of the examination shows
decided Increase in the company's surplns the
past year over that of the year previous The
report has gone to the two other commissioners
for their signatures, they having been COM
PEELED to leave after all results had been a.
rived at, but before the trial balance could be
made, which was not completed till a. II.
yesterday.
Q.-Whst is the condition OF the real estate?
a The bulk OF the real estate lies in Iili-
nos and is l. very good and satisfactory con-
dltlon. The valuation, as made, has been
conservative one. 1t was made Tn its present
market value; not prospective value.
Q.-What has been the method of the ex-
mination?
A.-The method has been for the examiner to
get to all sales of real estate, then examine the
property, and where improvements have been
n ptnV,+ sAo.,4
praise the value of the buildings, and lace his
estimate On them in his report
u hat has been the character Of the men
employed in the appraisal?
A.-lhe valuations have been made by FIRST
class men, one of them formerly beloppins tn
the railroad and warehouse commission OF
Limos, engaged ia regulating the railroad
tariffs, and later, appointed western arbitrator
by the railroads for the establishment OF the
railroad pools.
GLOW do the valuations made by these
gentlemen correspond with these made by the
company?
A.-Thevalues OF their appraisement have
generally exceeded the company's valuation
w hat is your opinion of the work done
mere by the other commissioners?
1t has been thoroughly done. have ex-
amined all the work done by the other con1-
missioners here.
Glow long did it take to obtain tbs valu-
alton?
"a ~ toOh tnIeo Weeks steady labor. bV the
TWO appraisers, and architect, selected by my
sell for their special fitness; aud men, they
were, too. who had no interest in the COM
pany affairs whatever. In fact the latter
was the case with ali the mon employed in
TINS work IN all the various State depart
meh's, ana there was large clerical force
engaged.
Q-How about the company's methods here?
A-ihe company's methods are very Gem
plete, and the bookkeeping unexcelled. The
Of nj DO Il IL.
renders dishonesty practically impossible; and
utterly impossible TO make mistakes. Among
the new features of the bookkeeping is the hay
log all vouchers pasted in large book, like
invoices, aud numbered SO any voucher can be
turned to at once.
Q-Wbat is the rating of the COMPANY AT the
West?
Att stands very high there.
Q-What effect has Massachusetts Commits
sioner Tarbox's report had at the West?
A-Have had no Inquiry OF Western policy
holders in regard to the matter
Q-Are many Companies doing a life insur-
aace business in your Slater
A-All regular companies ara doing business
there-about 80 in all.
The departments represented in the exami-
nation have been those of New York by Hon.
Michael Shannon, deputy superintendent: Il-
neis by Gen. Charles P. Sweigert, auditor-gen-
eral and Insurance commissioners; Ohio BY
Hon. Charles I'll. Moore, superintendent; New
Hampshire, Hon. Oliver Pilsbury, commits
sioner; Maine, Hoa Oramandal Smith ,comujs-
sioner. The actuarial work OF the examina-
ton was conducted by Mr.. Patterson, actuary
OF the New York department; W. B. Whiting
OF New York, actuary of the Maine depart
ment and by Colonel Moore of the Ohio de.
partment. The labors Of the cooperating de-
partments began Dec. 10th. 1888, and they
have been pushed as rapidly as possible to COM
pleton.
1T will be seen that General sweigert's state
ments bear out those Of President Dewitt,
made when Mr.. Tarbox made his first attack:
that the company was sound to the core"