The sun., 1890-01-23
Set On a Sure Foundation.
GREAT PROSPERITY OF THE mUTUAL RE-
SERVE FUND LIFE ASSOCIATION
OF NEW YORK

rupted sueoess Given st ns Annual
Meeting Yesterday Afternoon = Proai-
dent Harper and other Omeers Give
Interesting Facts ana Figures.
The Mutual Reserve Fund Life Association Of New
York oty saords one Of the best Illustrations that
be imagined Of the tremendous growth and prosperity
Of an institution founded upon the principle of "ve
and let lvs Its annual meeting held in its rooms In
the Potter building yesterday. was like triumphh
celebration. me many members who attended the
meeting heard from the zsalous and able onlcsrs who
words Of Encouragement The annual reports Pre-.
pented were nlisd with ehseriuR faotu and nsurss
which cannot ne The association has been in exist
snoo for nine years Its fundamental principles were
new in the insurance world; but It has OBJ
ptaolsa survived hostile criticism. belied all manner
of evil speaking and conquered ali the ain.
cultios that can possibly bo put in the way of
new enterprise by those who fear that 1t has "ths
utun in 1t that makes success and who dread that
may interfere with their ntsrsSts and founders
are happy in the knowledge that It far beyond the
experimental stage and its enemies are beginning to
think "they had better sing dumb. sing dumb"
Edward B. Harper the President of the association
man whom his associates have learned to regard as
oonEratulatory kilograms received from frendA
supporters and admirers Of the association all the
world over.
Tho man who travelled furhsSt TO astsnd the meeting
was william H. Hayward Of London the manager of
the Mutual Reserve Fund in Great Britain. He came on
the servia, which, after unusually stormy voyage
arrived Just in time to allow Mr.. Hayward reach the
Potter building before the end of the meeting The
traveller was heartily ohesrsd when ho entered the
ROOM and was cheered again to tho echo when, with
much formaty he handed to the President the of
one farthinE. being the amount Of damages allowed
to the Mutual Reserve Fund Life Association by
= British court whero its Slander suit against q
man named Reid who is in the employ of London In
surance company. was tried But the plaintiffs was
moral victory. and the defendant did not get OF SO
choaply after ALL for he had to pay Eeoo $sooo in
costs
All the ropOrts were appsudsd and received unaui-
mously.
Tho report Of the President ran 20 fellows,
NINTH ANNUAL. REPORT OF PRESIDENT
EDWARD b. HARPER,
FOR THE YEAR ENDING DRo. 81. Issa
To the oicers dirsstorS and members OF the Mutual
Reserve Fund Life Association.
Gentlemen; Tho work of another year 10 completed.
It's results before you. Our books containing the
record OF the ninth in the history Of the Mutual
Reserve Fund Life Association closed and
upon the last Of the nrSt decade of his
tory under the most favorable and auspcious oircum
stanceS
ASSETS.
Our record for shows that We have increased our
assets during the year from s27422sl to sss ss7
making net increase of S64l,5
RESERVE FUND.
During the year We have increased our cash sur
plus Reserve Emergency Fund from 81 7Se e7S to
$2so4 500 s5 making net cash increase for the
of S5o7 7sSlle with nearly 100000 additional hand
to be apportioned by the AuditorA
INVESTED AssKTs
During the year 1899 have increased our invested
upon improved property in the city of New York
"a detailed statement of each Investment Is herewith
presented you-from 81 2saoCo to s5s7.ooo making
net increase for the of invested of
SPECIAL EMERGENCY FUND.
During the year 1889 have, Per resolution
offered by Gen. Isaac H. Shields OF Philadelphia. Pa
and adopted at tho last annual meeting created cash
surplus special reserve emergency fund OF 100000
with which pay Immediately the death claims as they
shall occur and approved This fund is held by the
American Loan and Trust Company OF New York for
this specific purpose ony and through tho creation and
of this fund death claims are paid In large
bers at tho time. before the bLmonthly mortu
ary call 10 made paid by the members; from the
proceeds of the mortuAry call the loan from
the special emergency fund returned and thus made
good.
INCOME.
Our income for 1889 was 81 loe $685. Our income
for 1898 S2,7II,sIAos making a net increase in
income of $780, 1925 the previous year. but in.
cluded in the income 1889 10 than $4,000
mission and medical fees, never received by the
pAny but included in our i9eOm' as required by the
Insurance Department brnks and corresponding
debit Is made to our expegEe account
DEAgH CLAIMS.
During the year Isas wo have paid to the widows.
orphanA and other b ehciaries of deceased members
death claims to the cunt of ST. s36 "a making
total payments OF ded b. claims In OF S7eOOoOo