New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-01-23

Imaginary liability G" including liability Of S4644s2
rnich Is the Net Present Value of all policies in force
- necember "a 1859. computed renewable term
assurance for sixty days upon Actuaries' Table Of
x,or,aBtv with interest at per cent?. liability
,rntarilv assumed by this Association and not re-
,red by the various Insurance Departments from
pHostMortem Natural Premium Organizations.
we have written during the past year 1908
,,cies amounting TO S34 ,s45,575 which would have
I'm much larger but for the great so judiciously
vsrcised in the acceptance of these risks. We nave
,oded during the year S3743232 Of insurance ap-
red for great portion of which. If not all. would
nave been grcedy seized by the Old Line Combine :;
.ut we deemed ii only justice to members not to
,urden them with losses which might arise from
nlaclng on our books any but firstclass risks We
will cite just instance of this care referred TO-
oute recently very high official Of one OF the largest
level Premium Companies made application 10 Us
sor the issue Of policy Of S25 900 upon ms lue a'"
although this in itself acknowledgment oS
him that furnishing the right Insurance. We
were not overwhelmed by complete success III
having an Old Liner knock at our door lor au
mission: but we declined TO issue the iull amount
applied for and gave him policy for ou' qio'ooo
Through your most competent Chairman OF the
Finance Committee DR.. Robinson, we are "oio -
present to you a list Of investments OF winch VIC a
iusly proud and they attest his CONSCIENTIOUS anu
Si,tl energy in nIacjng these loans, the amount
red i only ahout So per cent of the total valuation
~ the noorcared property this valuation having been
made bv the most conservative appraiser IN New
York. a high Municipal Official. The Mortgage III
yestments on December 81. 1oe9' amoun'eu ~
s1.797.0OO
-, , interest on which would be about $4,000
No., .hoso loans all existed for full year.
rir, the mast year the total expenses of manage
- mounted 10 only S713,726 90. This sum in
cudes the amounts which the Association would nave
received had all the members paid their admission
and medical examination fees direct to the home Office
h which have not been received by the Association
IA Amounting in admission fees to POI 80. and in
aroination fees $50, 80. Notwithstanding having
clpdcd these items in disbursement. the ratio OF
,ur expenses to each 81 900 at risk was but
1898.
To further convince you of the economical manage
rent Of this Association will take the amounts OF
,snrance at risk and show what would have been the
,xnenses of MANAGEMENT had the Mutual Reserve had
In force the amounts carried by the Old Line Combine
nm December 81. 15S6. The Mutual Lie mad al FISK
s4se O5O.579. Now, by the simple rule OF thiee' Il
the expenses Of management Of the Mutual Reserve
with $751; .355 200 at risk were S'lo''-o W. "'.'
$50 O5O.579 at risk they would amount 10 Only
g so7 O93 81 but the expenses of the Mutual Life for
1sss as shown in its report TO the New orh IN
surance Department, were S49721o7, an oveItaAauon
pf its members during that year OF
S3.O75.OIi.
SIMILARLY the Fouiable with $40 216126 insurance at
- aud expenses of S4.945,449, and the New-lork
7 10 with $40 ss6, 800 and expenses of s441o'o4O'
oycrtaxed their members S2,7s4.O-o ana @-'o4V'l re-
snectivelv during the year, making total over
taxation Of their members in expense OF management
oi,,ne for one year only by the Combine Oh
ss,623.133.
a. COMPARED with the expenses Of our Association.
A we have not the figures If this combine for l-79
we have Disseminated its favor in this calculation
as il j. based upon expenses FOR l'7" winch "eic
SLIGHTLY in excess Of those Of 1ooo they uehs lheh
Sc 3 per 81 900 AT rl>k.
Thai our system is most popular one Is evlnccd bY
The small percentage of Not Taken Policies to the
,ont Of new business written being for 1850 less than
- ,er cert while the average Of the old Line com
hne for the wear 1.-s "a exhibited in its sworn re
portS was over per cent, and TINS average IoT i7o'
Will be as large if not larger than its previous years
our death rate during the past year was 10 each
G, 600 al risk on December 81 about - less than
the average mortality of the Old Line Combine during
sss and our expenses during the past year were but
SO az ner 81 900 at risk al the close of the year wlc
The average expense ratio Of the Combine for less was
80 "a.
Our army of faithful workers emboldened by that
inspiring confidence which accompanies the assurance
that one is fighting in true cause has foecd aean
de,ptc the barriers that enemies have placed IN
it parh and this is due 10 the admirable eencTalshp
NJ oDr leader President Harper In him are combined
those traits OF character necessary 10 cause thousands
10 flock 10 his standard. Generous, indhearted yet
Of the strctet integrity and most ndeatgable energy
he j., leading valiantly along to Inevitable glorious
victory and already hear our conquered enemies
CRYING for quarter and deserters from their ranks are
daily fyinc 10 our own seeking shelter
1t Us hope that he viii be preserved to u.s. as our
Euccess already proves that he is wise and ehclent
leader. Respectfully submitted.
HENRY J. REINMUND, Comptroller.
DR.. j. w. Bowden, the medical director. presented
this report:
January 90. 1890.
To the President and Board Of Directors. Mutual ne
serre F,o.d Life association. Neic York cry:
Conference.-The medical director presents for your
consideration the report Of his department for the year
eighteen hundred and cicity-nine.
The year 1859 closed with policy so7i2 since
which time 1908 applications have been approved
reuresenting S34 SD So which, added to the business
already in force. represents insurance Of over
g. 900 OOO-a remarkable showing for an ASSOCIATION
which has Just completed its nine years Of existence.
In addition to the above selected risks, there are
On file in the medical department 1,1o4 applications
received during the past year. which, upon careful
investcation were found be undesirable and conse
oucntly were rejected. representing S3,743'232' in
addition 10 these reflections, many Applications were
received which were returned 10 the agents having
leen presented through MISUNDERSTANDING on thelr
part the applicants being above the limited axe ac-
oeptable 10 this association.
The executive management is 10 be commenced 10Y
the care exercised in choosing agents who realize tha
the Mutual Reserve desires only the better GAS {"
risks placed upon its books. and the year l779 snow"
how earnestly and consccntiOusy this has been carleu
mt rarely has il been found necessary TO complain
IN this matter and the class Of 1859 represents ua
,uce Of which We need not be ashamed anu "il'h ~"
formidable rivals would gladly welcome to their ranks
Your medical director, the sentinel al INC open
rortals Of this association, fully realizes inc siVd'
responsibility Of his trust. and has endea'orcd 70 Drh7
n his Office his best judgment, and by Jealous 'a'o
10 demand and 10 receive the watchword worthy AN
well qualified from each applicant IL may ""''
lanncncd that he has been imposed on, or percloc'