New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-02-19
Leaving a balance of s7o4,331 SO to be carried t
increase net or ledger assets.
MORTALITY.

leaving balance OF S724i33l " 10 be carried 10
increase net or ledger assets.
MORTALITY.
The death losses for the year were somewhat above
our average experience but were so far inside the
mortality TO be expected by the Table ana provided
LOT LOT oy our premiums as to leave saving OF about
S4sO,OO0 For two years the death rate has been
above our average. But at its highest it has
been far below the Mortality Table, proving at once
safety OF the Table on which operations are based
, Our losses have been paid with equal regard to
the prompt satisfaction OF every Just claim and TO the
protection OF the honest members against every unjust
claim
EXPENSES
We still follow the principle that when company
has reached any considerable ze not only is It better
Tor both old and new members that new business
should be taken only at such price does not re-
auce the dividends the old. but that there should
DC general tendency 10 reduction in the expense
ratio TO Offset the slowly increasing difficulty of
ihg large dividends. Whaevor Is got In violation OF
this principle Is source of ultimate weakness and
not OF strength whatever its magnitude 1t Is a great
satisfaction to the management that the company has
oeen ablo TO increase its business at reduced rate OF
expense. Its new business Is, therefore, peculiarly
valuable The expense ratio for 1883 was only 500
per cent ratio less than that Of any other company.
The income from investments during the year, while
yielding good margin for surplus, indicates the
dnculty OF finding quite as ready and satisfactory
employment for money in the previous year.
PROFITS ON SALES.
In 1858 We sold for s775 762 al real estate which
cost "a s6so6 20; net profit Of $4,000 10.
This brings real estate sales to January 1, 1888. up
to grand total Of 7,les.726 10 Of property which
cost ls S6,330,45S 81 net profit Of $685. 81.
OF the twenty-eight parcels sold during the year
tTsnysx sold at profit OF ESQ o. 20 os ana two
on bonds sold and paid at maturity during the
year. there net profit OF S45.075 90; on sundry
income nom profits and loss items Of Sl2a 800 Al
Loss.
For the first time In fits history OF forty-three
years the company has 10 record loss BIZ the default
Of one OF its financial correspondents, class OF
men through whom most OF It's loans are placed
investments, and who are selected with exceptional
care for the character and ability requisite Tor the
most important aud confidential relations which they
hold; men who, except I'm this instance, have served
this cOmpan with rare fidelity and success in all
these years; 10 whose wisdom and faithful service
much OF the success Of this company has been due
The amount chargeable TO profit and loss from this
proves 10 be Sis344s OF; deduoting the income
nom profit and loss above stated the balance charged
70 PROFIT and loss IS S55452T so No credit IS taken
for the value OF property restored TO u.s. nor wiz there
During the time this money was being distracted
this correspondent handled correctly over S170OO0OO
aud possessed not only own confidence but that OF
the business Of his own city and State IN very
Married degree. HIS fitness unqualhedly Endorsed
IGately.
10 rightly appreciate the effect Of this loss upon
contracts t should be considered IN It's proportions
AMI not simply in its aggregate. That Is small TO one
g. @ COG S oi s s Wbeb OS was s su
plus could meet loss Of $4,000 without thought OF
injury 10 IT'S credit. But less than what $4,000 Is
a. such a bank S4s4, 600 IS 20 n company with
s57 100000 OF resources and with 0sQ surplus
remaining after the loss. 1t VIII not affect the COM
Tho conditions which, apart from our entire con-
hdence IN the man. mado this loss and It's c0ncralment
following the financial depression OF the last decade,
and the methods BY which Il effected were sklfuny
ex e S1S Sl G Sor PaS since st perod II
probably needless to say that whatever lessons as to
piled. Ill
During the wear We have sold I'm order 20 save the
premiums and have had paid of, bonds that had cost
us sf42.2s7 90. We have purchased bonds costing
90 n making an our rho 9g Al cost On Ssnpa
these bonds VIII appear from an inspection OF tho
''''''-'N REAL ESTATE LOANS.
We have loaned during the year upon real estate
- az a. 90 a saS ye ss p o 80 20 tho
vested gal $50 AS 60. Concerning these we can only
say that they arc made with constantly increasing
care In only those localities where values are OF the
most permanent character.
STANDING OF THE COMPANY.
The company had In force December 81 1888
$50 policies nsur1ng s5i,36l,913 It's assets on
that day were s57, 400 GAO 90; its liabilities by the
aighcst legal standard Of folvency wee $751; 6i
leaving clear surplus Of s5,565,079 so. Our own
standard OF reserve on business written since April
1882, Is higher than any legal standard that Of
other and reg s ssvs 5 70 tb ea syp I'm NV
our own standard s5,9i4,7O0 80.
The premiums and reserves OF the company are
grounded upon the most conservative bases which
have been approved by experience again and again;
Us contracts are OF the SIMPLEST most legitimate
character devoid OF speculative features its business
is selected with great care IFS economy of manage
furnished MS record Is believed to be at least un-
surpassed its growth is wholly hcalthful, being worth
more than II costs 10 those already Insured; its
assets are not to be excel!ed for sody and produc-
tlvoness It's surplus is ample to provide for every
adverse contingency.
Received: - 49, - -
For Premiums, III 99'424 O5b "a
Interest and Rents. .OS ,42b,IO4 "a
Balance Profit and Loss. 6s5,11O 40
goI4 535 GAL 20