New-York tribune., 1885-02-10

EEapenses. 152621 16S Sa
Held in net assets" for reserve etc... 5sai775o 40
Total. $3.50 All 81
Such exhibits furnish the yearly growing proof that
prudently managed lite insurance has done and do
protection to the family against the money loss that
comes in the death OF Its head.
MORTALITY FOR 1884.
In o the lSf Of
cholera in foreign countries consequent exposure
assurances mainly upon the lives persons living
own Northern States and that risk Of exceptional
loss Is therefore "a minimum.
EXPENSES.
The ratio of expenses Of management to
| receipts Is but 81 per cent.
PROFIT AND LOSS.
= The real estate sold In 1884 realized net profit
sio454 co. leaving the balance of profit and loss
| the year $l7,3i7 0l.
REAL ESTATE SALES.
The The @ rsales Of real estate in 1884 aggregated
part only OF the property taken under any
IN s sca bsn S mater az oro NOW a o, s sa
how valuable tho salo have shown the remainder to
debt and no other value viii b claimed :og it until is
sold We have cases where the entire cost OF the prop
our account no value whatever for The remaining prop
erty. leaving the question OF proN aud loss to DE
But the sics in ISL, which closed out the entire
properties covered by sthe foreclosures, were for
5l3l 10. the properties having cost US s35076 3d.
These properties were appraised for the Insurance
Commissioner Of this state In 1879 at only S28s s23 a.
or $sJS12 ii less than they cost and Sl2O,3O1 Il less
than they sold for.
Up to January 1888 out OF real estate taken under
foreclosure durng the last great depresslon We have
closed out entire properties costing $3270620 IS for
ertles by the Commissioners valuation in 1879, were
appraised at S2.76s2ls 81. which S502i0 90 less
than their cast and S92902O % less than they sold for
Thus does the evidence accumulate from year TO year
that while aperfod OF depression and bankruptcy may
compel lender to f0recOse and hold good deal more
real estate than he cares for yet II has been well
selected the value Is there nevertheless and Will reap
poar prices when normal conditions restoredi
and that 20 take appraisal OF real estate when there s
market, true valuation 10 be submitted 10 until
average standard. Is take false basis and to DO
gross injustice to corporation which has to make
attempt 10 have snch valuation forced nponit when
there the prospect OF having to go into
Ne have sold about fourth OF the property so
appraised, at an advance which has wiped ont nearly
two-thirds OF the gross shrinkage then found. The
question for the future may be fairly pat In this way:
by the sale OF property costing S327o00o, we have
reoouped not only net profit OF si26OOO but S920O00
from total shrnkage Of about Sl,5OOOOO. what may
reasonably be expected from the sale Of the remaining
Sli 100000 NJ against the remaining 100000 OF
shrnkase found six years ago Apparently there is no
We rsisr TO these matters in OF detail because
during all these years. the credit OF the Company has
and s f. 80 o II s y ys
is.r tse shrinssgo by appraisal In 1879 was loss
Of those attacks mate very clear by the facts, which
Earang as We do an interest rate which is entirely
adequate 10 every condition Of our business we are In
possible position hOd shall
our real estate until It Is demanded at fair prices
There IS reason for pIrehensou and no need for
hurry.
LOANS on REAL ESTATE.
Daring 1884 $40 81 OF real estatc-loans were
paid. and s52l2,6l2 10 were made. making q net in
crease OF the amount 80 Invested Of S3Oi7 ,062 32
THE TOTAL INVESTMENT OPERATIONS OF THE YEAR
resulted in the Of securities and payment OF loans
c. and making io,ns aggrcgating S66sisi7 TO- giving
a net increase OF investments OF sl.ii0.0l5 50.
SURPLUS EARNED.
In the last ton twelve years there has been a
very great probably permanent decline In the rate
OF interest standard securities. Tho .abllity o earn
surplla without rlsking the principal Is therefore
riond TO life Insurance who tries TO disguise or ignore
this fact who retors to the dividends OF tho past as
But during the past more we have been slowly
mpEoyns our Interest rate s ~ and wac we ag
OFFER assurances In that direction except that we
right 10 give our members benefit of that eair and
he scale Of dividend in the ysa, i uo ss.ss
10 reduce the scale when the earnings are smaller.
THE INSURANCE BUSINESS.
Ever since It has been the duty Of the writer OF this
report place the affairs OF this company before Its
members, he has always endeayored TO faithfully aud
frankly present not only the facts which they we're
entitled to know respecting their own business: by
detail but also picture OF the condition and DRIFT
OF affairs lie feels this TO be both proper and necessary
life insurance is comparatively new part OF
the social machinery; It has single but very large
and important function 10 perform, the exact
nature Of which ought to be kept steadily in vew and
by which ts every method aud every result ought TO
be e Sss ysYsW a IN ts a ha sn rs w wc are
being almost exclusively sought, and the methods ny
understanding OF matter ami also to define clearly TO
you ana To the public. the Views which govern our
dtun and the pursued by this company have all
been tor Mt least seven or eigbt years the objects OF
through the directly aud by their agents, OF deama
tory articles false statements, false criticisms ana unjust
shod from mouth to month all these years by certain
Journals and sold to these companies for this purpose
ms OF these journals boasts. by the ton
LIFE INSURANCE
Has single Junction. distribution among the heads
OF families OF the loss incurred by each family In the
death OF It's head that tue loss falls not on the hei
less family but Is divided among those who are sun
spared to their own That all life insurance can 40;
it divides the loss OF one family among the heads OF many
families each OF which must, In its turn, suffer IKE
loss. divided, when II comes in like manner among
ent sharing the other families while he
lives that his oEn fams loss VIII be borne Py o,nss a
when he dies, lies In this. that only so can ne MAKE
instant and constant provision for their @ prPeesOn %
created his family, having called them into being and
made them helpless and subjected them TO this risk ne
il bound TO give them instant and constant protection W
the full extent OF his ability and their necessity ..
obviously this Is not transaction Tor olos cIIsa Jmn
to wholly by his duty to them which he can aus
charge IN no other way The necessity Is hnpera'e'
obviously too spirit OF this transaction demands
two essential things certainty that the agreement made
can no.
alnty also, that onos family Will get all the protee
tOn has paid for, and that, III no continsecy, WIN
be robbed OF t for the enrichment VI some Que else
who has not paid for IL and has interest In ~ III th0se
two vsraintics lies the whole gist d. legitimas hie
Insurance aud OF Its honest, consistent adnilstitOh
The frat certainty can be had. and can be ha ohy III
we'll managed company which gives an absolute con
tract for certain amount, based upon peinun " Do
paid In advance, which provides not only Tor tne
mortality, but for that OF advancing age ana tor ea
penes and makes prudent or future Interest,"
The second certainty can be had where tne oVn nnS
provides that In case longer go on Pay.ne
premiums his contribution to the companys resersdSs
(which contribution the company no lohgo, h, nVS. Co.
because II no longer carries hs risk shall NOT oe
feited to the other members who do go on put sn"
secure 10 his family ~ much pad-up insurance as ~
ought to buy. ,.
For example, aged thIrty-hye takes our preseht