Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1890-01-30

A"'e"'s VI s9S' "''' 'co't %
Des*1sr - l ,.-s sss q Ks % % e q
T,.erease Of isss over isss, H5 s7ss s22 81
IL may be pertinent 10 remark in this con-
nection that during the past year the policy
of the company has been to concentrate its
bushes, more in the larger cities, A. against
operating 10 country and widespread dis
,ricts. The result is shown by the fact,
that while the amount Of new issues is
slightly less than for the year before, the
amount Of insurance placed on the books
has been the largest with but one excep-
tom Of any year during the present ad-
ministration of the company.
PREMiCx RECEIPTS.
The comparative statement of premium
receipts from year to year since 1885, n
appended below, 10 the natural outcome Of
the foregoing statement Of policies and In
surance in force, and, like that, shows .
healthy growth in the company's business.
For the year sndias December 81, 1857. ees9 $50 g
1853, SIS, +63 II
yaerease for 1857 over 1885 ell,434 %
For the year endlns December 81 1883, s7ia'sss %
:" 1857, $50 ss7 IS
Increase for 1893 over 1857. s2a az OF
For the year ending December 81 iss9. sz2s AZ 20
1883. 1889 70
Increase for 1859 over isss. el2,i0l so
While the gross premium receipts of the
company in 1889 were el2, l0l 30 greater
than in 1888, the actual increase of cash re-
eeipts from premiums in 1889 over 1883 was
Sls sl5 ~. The difference between these
sums represents the decrease in the amount
Of premiums on policies for paid.up insur-
ance in 1889 as compared with 1888, being
signal evidence of the increased popularity of
the company among its policy-holders
showing as it does marked decline in the
demand for paid-up policies, and a large
increase in premiums paid.
INCOME.
The comparative exhibit below Of the
total income for the years 1888 and 1889
present very satisfactory results Of the
company's business in these departments -
1888. 1889.
Prcrnium-, e7l3.eaSs0 t72s al 40
Interest and Rents. 2a2.ess oJ 23s ,so4 Is
Other Sources, s,yb2 p5 II. 1873 W
Total. e~s.27l4s N.oo2. 739 5,
INTEREST AND RENTS.
The gratifying growth from this source
can be seen by the following
issa $3.50 SO4 IS
isss ~ ,dtis ~
Increase. eli 1862
income AND DisBURsEMESTs.
rh. gros- Income OF the Company from all
far he ysa "a
while the gross eN pc nditure for Death
Claims. Endorsements, Dividends, Sur
render values, Taxes, Exp nses. and
all other Item. was s43.262 O.
The excess Of Income over Expendi
ture being, ti5s.f77 AZ
EXPENSES REDUCED.
The net growth in Premium Income OF
the company has been really brought about
st reduced expenditure, and we are hap
py TO say that the expenses for the year
1889 have been made $8,749 Sc less than
for the preceding year.
PAYMENTS TO PoLICY- HOLDERS.
The payments to Policy holders for the
year were as follows
Death Losses. t357 ,5p2 IS
", na '.1,'',', r"'o""e"'' ~ .os9 81
Surrendered Policies, 3e,47s "A
Diyldends q, 355 IS
Aunuitle.. 2a3 "a
Total, e5t9, 81 II
MAruREp AND DISCOUNTED ESDowMESTs.
During the past five years. the payments
Of mstured and discounted endowments
have been
1885, s234 $50 "a
iss0, Isl ,S04 a
lss- lS2,52i "a
lsss az 5qs 80
1889, ~ 0s9 81
The payments for matured and discounted
Endorsements in 1889 were the smallest Of
any during the past thirteen years. The
company aas paid in the period named
more to its policy holders in proportion to
its size than any company in the world for
death claims, masured endowments, surren.
dered policies and dividends, " hich payne mt .
now aggregate sl3 ,029 SIG Is, while the
total amount paid to policy holders since date
of organization has been s24 1884 5l SO.
INCREASED AssErs.
Computing the same on a basis of 20
~ cent for cost of collection Of deferred
and unpaid premiums, As is the practice Of
the different Insurance departments, the
hsHets u tue uluu uutuAt arc lUt-
lows
Dee. 81 isse, e6.l5s 5is 10
Dee 81, ISIS, S,0O5 $50 81
Showing an increase Of eIss,o4s 81
INCREASED SURPLUS.
One Of the most satisfactory results of
the year, has been the extent to which the
compsny's surplus increased T.
I I::s ' ~. =. =. (: 9
Increase. ~, sa6 81
OVERDUE isrEREsr.
At the close Of the years 1876 and 1889
the amounts of past due interest we're as
1873 sseH9l' s3sl $50 81 t3so.lss IS
i>ss 217oS 5000 ST $50 -
Decrease. ss.s673 ss7s,5lo7o sssa.37s o6
.Premiums note interest for 1870 estimated.
mot Including some overdue interest on one
cd mor,g .ge. the pri cipai sum OF which i. en-
l0o and which lei present the subject Of litiga-
ton.
This progressive change in the material
strength Of the finances Of the company
(even better than last year, must of itself
be satisfactory to our policy holders.
ASSETS. LIABILITIES. SURPLUS.
The assets. a. per detailed statement on
page-are Is, l5s 6l6l IL. The company
owes Ssl $3.50, which includes claims Of
every Inscription; while the value Of its
policy obligations, computed in accordance
with the highest standard known to the Law,
10 s5, 759 .65+, leaving . surplus over lisbili
ties Of every description Of e3l7.l2s ~.
REAL EsTArE, How ACQUIRED.
The Company's real estate was legacy