The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-03-13
THE NEW YORK LIFE INSURANCE CO.

Taken as whols, the last annual statement Of
| the New York Life Insurance Company is the most
| remarkable exhibit ever made. The celebrated
Peter Cartwright once perpetrated witticism in
open conference, whereupon he was rebuked by
the presiding bishop, who demanded of Brother
Cartwright if he were growing in grace. The
| answer was Eyes, Bishop, in spots" But the
| New York Life is not growing Sin spots" The
vast new business is not confronted by show
| ing OF untaken and lapsed policies. Large in
terest gains are not Offset by CORRESPONDENCE
large death losses. 1t is gain, gain, all the way
anu on every side. The great company blossoms
| like flower
tits statement to be analysed, picked into;
| and wherever one picks he finds meat. The
number Of new policies issued is 1866, insur-
ing to the amount of s68, 521, 452, and the in
crease over the preceding year amounts to
| $7,063, 691. If we turn over page of history
| and go back twenty-one or twenty-five years we
shall find that when either of the two great
| IN single year, the result was regarded as
| something almost phenomenal!
The total amount received for interest was
So ,339 G60-a gain over the preceding year of
S421. $40 Not dollar Of premium income was
| used to pay death losses The receipts from in
| terest were sufficient to pay death losses and to
leave clean surplus of $339,960 Taking the
last i've years as group, the interest receipts
have been Sl4 228, and the death losses $11,-
48I87l 80 that for the entire period the receipts
from interest have been more than enough to
| pay losses by death by the sum of SO, 1926, 357.
| We are getting accustomed to display Of
| large figures in life insurance. but it is rather
startling when company reports net gain Of
$3O, 29l 914 in single year. as the New York
Life does. Why, this amount, standing by it
SELF. would make company. Thirty millions of
dollars is a large sum of money. But here it
simply means increase, sum to be added; and
when added the total sum at risk is represen ted
by the figures 1888 GOA 400 And such an in
crease in outstanding insurance means good
deal, whether a company favors tontine, semi
tontine or anti-tontne forms of insurance. 1t
suggests content in the mind of the average pol
ley-holder 1t indicates that the citizen is still
Wiling to pay fair price for good article, that
the whole world has not gone daft in seeking
forms of life insurance that do not insure, be-
cause offered at small price. When company
can hold its old business, and increase it by more
than thirty millions in single year, charging q
FAIR and adequate rate for every single policy it
not only would seem to indicate strength and
solvency on the part of the company, but much
discrimination and good sense on the part of the
insurlng public.
And after all this comes the marvellous show
ing Of increase in assets. New business is ex-
pensive. It costs money We are not gener-
ally startled by large increase in assets ard
surplus when life insurance company has har-
vested, in single year, vast amount of new
UoSihCoo' Iout tuo company 3 increase In aSS0ES
amounts TO the enormous sum of $3.50, SCI rs.
Detach the figures. More than enough for
seven banks with capital of a million each; or
seven great fire insurance companies. Money
on hand. remember, and money to be added to
the amount already on hand, making a total
sum of $67. 1854. 32l 1t is this money, paid in
and invested, and more to be paid after an es-
tablished system and orderly way of doing
things, that makes life insurance that insures.
There are no 'sifs, no 'guesses' in the matter.
Every policy calls for just 80 much money, and
the cash is always on hand. One pays his
money certainty That policy will be
paid when due is about as sure as death itself
But with this general rounding out of the
company does the surplus increased Yes; for,
we said at the start, the gain is on every side
The ordinary surplus gains 80, 693, 458. The tom
tine surplus gains $3.50, 946. The total surplus,
according to the companys own valuation, is ex-
pressed by thas figures, $40, 188, 215-a gain in
single yealss6 lS3,4O4 By the New York
standard the surplus amounts to $13, 225. 053
Other interesting comparisons might be drawn
from the report of the New York Life, but these
must suffice. The company is virile aggressive.
IL is moving steadily on. 1t presses and
pushes fer business to the verge Of audacity.
But its low death rate proves how carefully it
selects its risks. The walls of the mighty edi-
fee rise fast, for thousands of workmen are
there; but the mortar and the brick and the
stone have been carefully inspected. Only good
material goes in There is naught for mere
show, but solid substance is in and, through it's
every part. Not fewer than eighty thousand
homes are now safe within its shelter, and there
is room for as many more.