St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-03-04
people have share in 1t, for the com.

PURELY MUTUAL,
and the membership exceeds 100. 900.
This shows the cOmpany's policies to be
valuable securities, other than as death
claims. Indeed this is one of the COM
pany'S strong points, policies that are
valuable to the insured members if they
survive certain periods when their con-
tracts have large cash surrender values.
The difficulty of investing money at
good rate of interest has increased very
much during the last eight years, as
every investor knows. The institutions
winch appear to suffer least from the
uecline In the interest rate are the large
insurance companies. They either have
genius for investment or they are fav-
orites with borrowers. Their long ex-
perience in handling trust funds gives
them great advantage over the private
investor, and the fact that growing
company does not need to call in
Its loans makes their position an ell
viable one in every respect. Here is
the New York Life Insurance company,
for example, which shows an interest
income for 1887 equal to nearly 6 per
cent on average net assets. This is the
more remarkable because its business
is so large as to give about $780, 600 per
year of new funds for investment.
L MS one Item furnishes an example of
tue skill and prudence with which all
tne cOmpany'S affairs are managed, and
because Interest is very important
factor In the calculations of a life
company. The New York law re0uir-
ilig tue companies to estimate their liza
0llltleS on the assumption that thew will
hencetorth receive but per cent inter-
est mas Just gone into effect, and dimin-
lSheS by considerable their showing of
surplus. The New York Life Insurance
company, however, has a surplus by
TINS new state standard of nearly Sl2.-
OOO,OOO. During 1887 over S4,OOO,O0O
were paid in
DEATH CLAIMS
and endowmentS. Most of this money
went to the widows, orphans and other
legal representatives of members who
died. 1t was paid within a few DAYS or
weeks of the death, without the sacri-
hce of any interest and without expense
of administration. The New York Life
insurance company has the largest en-
d0Wment and annuity business of any
company in the world, and its ordinary
policies are so written as to have large
surrender values in cash at the end of
selected periods. The effect of this is
seen IN the fact that payments to living
members OF the company were about
twice as great as those upon policies
maturing by death. Statistics show that
II those who insure, about one in three
VIII die within period of from ten to
thlrty-hVe years, according to age at in
surfing. The other two-thirds, however,
VIII survive, and an important element
i'll the New York Life Insurance COM
pany'S success has undoubtedly been i'm
so adjusting its policies as to meet the
requirements of both classes.
a summary of the business for the
year 1887 shows payments to policy
holders of over $9,000,000, an increase of
over go, 100000, assets Of over $50, O00,-
600, new insurance of over 500, 900, 900,
and insurance i'll force of over $3.50, OO0,-
900. These figures suggest their own
lesson, and the New York Life Insur-
ance company deserves
ITS PROSPERITY
because of the lead it has taken in those
reforms which have made life insurance
the admirable system it is now, and it's
success contributes to 10 monopoly and
causes no eXtOrtiOn.
1t issues greater variety of policies
than any other company, thus adapting
its contracts to tie circumstances OF
more people, and in its tOntine system
it stands alone in allowing months
grace i'll the payment of premiums on
this class of policies. Its latest cOntri-
button to the system of life insurance is
a guaranteed mortuary dividend equal
to 90 or 100 per cent, according to
the table selected, Of all premiums
paid, in case of death within
specified period. This comes as near
to giving insurance for nothing as any
plan yet devised and being guaranteed
by an institution with millions of money
to make it good has already proved very
popular among business men. And in
addition there is an insurance bond with
guaranteed interest, the rate upon which
is never less than per cent.
From the annual report of the CONF
pany the business of 1857, and the actual
condition of the New York Life lnsur-
ance company at the beginning of the
year 1888 was as follows:
BUSINESS OF 1887.
premiums. ............. 3 = 1SG. S53 ~
Interest, rents etc............ 3,765, 1913 10
Total income ..............s22, O52, 7s7 ~.
Death claims and endow-
ments ,...... ............... 1861, 1866 SO
Dividends, annuities and
purchased assurances ...... 5,f73.S43 90
Total to policy holders . S9,535, 2lO 20
New policies issued ......... 2S522
New insurance written...... S10G, 749, 295 %
CONDITION JAN. /, 1883.
Cash assets. .......... -. $50, O79,sl5 So
*Divisible surplus, Co.'S new
standard .................. 6,G51.5SO IL
+Tontne surplus go. ........ 5,3l5 20 SO
Liabilities, new state standard
a per cent? ................ 7O,650,5GO 81
Surplus by new state standard
a per cent? ................ 11,s4G, 793 O6
Policies in force. .. .......,.. 1888
Insurance in force. ...........35s, 935, 1856 90
PROGRESS IN 1887.
Increase in income ........... 50. 800. 378 81
Increase in net assets. ........ S,O92, 693 90
Increase in insurance written 2l,57l ,Ool 90
Increase in insurance in force OIL, SCI ,996 90
Exclusive of the amount specially re-
served as a contingent liability To tontine
dividend fund.
rover and above 4 per cent reserve on
existing policies of that class.
And it is this kind of a company that
proposes to improve the appearance of
St. Paul with building that is COM
mensurate with its importance and the
volume of trade that is pouring in from
every quarter of the great Northwest.
Adams Knives and Forks.
Philadelphia Times.
There are a number of things that the
most fashionable and well-bred people