New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-04-13
OFFICIAL REPORT OF EXAMINATION
Hon. LOUIS B. SCHWANBECk,
Insurance Commissioners Of Colorado,
AND
LUCIUS McADAM, Actuary
For the Insurance Department.

r. q. HARPER, ESQ.,, -
President Mutual Reserve Fund Life Assoclaaon'
h.,,o A.,oted the mast three weeks 10 . most
,ho,opgb examination of the present condition Of
the Mutual Reserve Fund Life Association. IN
this work I have had the valuable assistance OF inc
welknown aetuary. Mr.. Lucus MeAoam' ano sns
Of other distinguished actuaries The accompanying
cheduIes show tho financial status Of tho association on
March 18th. 1883.
have examined the receipts and expenditures Of The
association and md the 70 be - stated In sooie
. bereto annexed I have also examined the ssse@ Oh
the association and verified Investments and deposits
by direct personal investigation as the banks ana osoor
proper sources Of information The Central Trust Oom
pany Of Ncw.York acts Trustee for tho AAsooeoon
and all mortgage made with che JOINT spproV
Of the Trust Company and association, and the mortgages
are held by the Central Trust Company " Trus'es Az
the Office Of the Trust Company carefully examined eVeJ
loan made ana appraisas furnished By experts - 70
the value Of each property
The ,nvss.rnents Of the Company Ana to hAvs bean
made judieousy upon proper apprass and With due legal
formalities.
In connection herewith I have also exasned and
checked the liabilities the association The results ara
shown In Schedule d. hereto annexed
The general syetem Of Bookkeeping hnd 10 DO vary
complete and and Supplied with all possible ehee
against dstaeaton.
I have further examined the method Of levyins. col
Ieetng and apporoning assessments in payment OF death
claims from the original entry books and vouchers fur
nshed TO me- and End the sAme correct and admirably
conducted In ali details
The ushod Of receiving snd approving applications for
insurance and the safeguards thrown around te same
nv the Medical Department has also claimed my aten-
ton and has been found be eninenuy complete and
satisfactory.
Schedule G. annexed hereto, shows statement Of the
publications received and the disposition hsref from
January LIST 10 March 1eh 1885, exhibiting great care
in the selection Of risks
The INVESTIGATION and approval Of DEATH
CLAIMS IA very THOROUGH AND SYSTEMATIC, and
-
claims has convinced that good reasons existed Tor
sontastue then In the interest Of the members Of the
| association
Tn .oncuseu, certify that the books and accounts
| sf the Mutual Reserve Fund Life Association are
carefully and accurately kept Its assets correctly
stated its honest death Chains promptly paid In full
,a,s. entire business conducted upen sound business
principles.
The placing Of limitation upon the eIpenSe Of man.
| agement is highly eommendsole-
One great OF the assoeson the basnE Of the
oruary premiums payable BY the members upon
| the actual death claims the same shall Occur Is E
| important reform carried out BY this association
| It's system Of collecting and accommodating special
Reserve or Emergency Fund and carefully guarding TIL
fund by placing IL with Governmental Authorities OF
| ,I,h Tyust COMPANIES who receive and hold the samt
tae the exclusive and benefit OF it, members hn
proteo.,ng them excessive Daymans In any year,
deserving Of special communication. The present hrE'
accommodations Of cash assets guarantees the payment
| its policies Of insurance in full
The system Of the association furnishes life insuranc
AZ cost with absolute guarantee for It's future peranene
and stability.
LOUIS d. soHwANBEoK.
Auditor Of State and Superintendent Of Insurance Stat
Of Colorado.
Having assisted M Louis D. schwanbsck. Auditor o
state ana superintendent Of Insurance Of ooorado In hi
examination Of the affairs Of the Mutual Reserve Fun
IAfs Association fully concur in all his statsnsnts
10 the correctness Of its accounts ana he sO' n0ne'
sHA LuoIUs MeADAM.
| Aetuary.