New-York tribune., 1891-01-29


sum of SEQ 900 600 Of new business.
Deeming 1t better for the sturdy and solid growth
OF the association 10 more thoroughly organize and
equip cur foreign 6eld forces our president visited
Europe last summer and while there planted tie
banner Of the Mutual Reserve in territory. so
that it floats tr.umphanty over Great Britain.
ireland. France, NCiwdy, sweden and Hamburg. lie
has prudently made changes in the management II
some of these foreign departments, and, we have
here to-day Of the representatives OF the
Mutual Reserve in the Old World countries namely.
F. d. Jones, Of Great Britain; DR.. S. IL. Tying, Of
France: Captain c. y. Ahstrom, OF Sweden, and
Gustave L. Wiese, Of Hamburg will leave YOU to
iudce for yourselves, but am thoroughly convinced
that Won will heartily with me in saying that
or president has done nobly and made wise selections
As a result of his visit have written in Great
Britain and France last year nearly S7.00OOOO or
abont two and a quarter millions Of new business
mor, than was secured the year previous. and our
steady march Of progress through foreign countries, as
well as through own is attracting the attention
| of the whole insurance world.
Our total losses incurred last year amounted TO
% 2G -5O or 80 50 TO each 81 900 Of insurance in
force at the end of the year. This rate OF mortality
wa mnch less than the rate OF the three old
line companies heretofore mentioned during the year
1ss9 Notwithstanding the fact that to the epidemic
~ Ia crpper which visited this country early In 1880
con be ascribed losses by aggrcgatng S3o6'ooO as
shown by the records of death claim department.
| and but for the excess in mortality due to TINS
carse the ratio would have been but $o 70 10 each
81 900. oo T.,
The expenses OF management 10 each $1,000 OF in
ra,ce In force at the close OF the year 1889, in the
rop,tahc WAS 50 81 in the Mutual Life $ll 80 and In
the New York Life 81 61 or an average expense rdo
in these companies of go 49, while the same rate Ia
the Mutual Reserve for the year 1890 was but ~ Is
to each 81 900.
reward the close of the past year two valuable acces
,4ixaa ataP ftip Il. l.
phelps was elected TO the Office OF controller and COM
menced his Official duties the first Of December last
As the founder and successful executive manager Oh INC
Covenant Mutual Aid Association Of Galesbnrg H. ~
brings 10 us an experience of thirteen years in an
association second only TO the Mutual Reserve Inc
voluc Of his services to cannot be estimated
4 gentleman we'll and favOrably known III thS H'd'
and couutry has been chosen to fill the Office of trca,
nrer and chairman OF the Executive Committee Ills
xida expcricncc as fnancier and organizer VIII
render the benefits TO be derived from his acquisition
ipcaculable. / refer 10 the Honorable Johh W.
Vrooman. ,,o
In conclusion. beg to state that the Mutual Reserve
n dov nrcsents achievements unparalleled in the his
tory of life insurance Its large volume Of business
1s low mortality rate, It's economical management
its popular and unequaed plan, lis security coupou
with it, equity and cheapness present lAui'"''H' "a
lis immea ,urable future success.
To the LOYALTY. energy and ability Of the executive
| M and It's many agents anu oih'N '''FN'~
the Mutual Reserve at the close of Its tenth year
stands an enduring monument Respectfully SUD-
mitted, HENRI D. hElNn so
Mr.. Reinmund's report loudly applauded and
was unanimously adopted.
NE MCCALL EXPRESSES HIS OPINIONS.
The president then 17ehly complimented Mr. NC
Cali saving that he left the Office Of Insurance Com
missioner Of the state of New-York with clean name
and clean hands.
/ &c. believe added Mr.. Harper, that the two sys-
tens of insurance exist side by side. Inc cru
ci,m that VIC make opponents Is mat they want
the field all TO themselves, without giving the people
choice Of which system they will take. take pleas
ure in presenting to you grand man as was ever
| nlaced upon this earth, the Hon. John a. Mccall
! loud chcersl
Mr. Mccall. who was received With loud cheers, then
| said
Mr. President: | would indeed. be very uncratiuf II
did not respond your confidence and to appreciate your
very kind words. don't know that shall be expected
to subscribe to that have listened to to-day am
great deal in the position that good old lady who wa
in strange town and went out to attend chureh Hhe
wandered into structure she came TO that ooheu
like church and found she was listening to sermon IN
foreign language. After she got home somebody 'a"eu
her how liked 1t. She lcIlird Il can't deny "At
understood" There Is good deal in what Mr Harper
has said ~ the there j. plenty Of room for two
kinds Of insurance Nobody should doubt that That men
Will insist first and last that your company us weak
one" "will be a failure" nothing in IT," doubt not
But they are lying went all through tst several years
ago when. and at time, Mr.. Harper Will Tell YOU IL re-
quird stand up and that there was moIe
than systsM. meant, however. TO make faIf roI
| was determined tha; should owr me- and That
would carry the law to the last letter lcuf company
as been successful. ]: you had no, deserved 10 succeed
you would not lave been your present position and
still all /, back to th, PROPOSITION What j.
worth worth doing we'll 1t IS the wOrK OF tday
the cessecss tong exertional 81 this means,
applied we'll don what Kind Of scheme or
cause Han is ed with shows his earnest
mess and makes you / ard everybody else fr' uIt
lac believe, what he Is doing. that VIII core out
ahead institution he work. io viii out pretty
near On top. by accident TO-DAY entirely Ny
presence the result of any arrangement between
Harper and Icinurnd and yscif and Old hero
C make speech remember attending banquet Of tho
Equitable time and had Tade ntur speech and
-aid some pleasant little things about friends who hhd
from Baltimore Aiter"ad Chauncoy Dtpew sot up
and said he Ia! heard speech t. Hyde
and at Hyds had corrected IT, and that hadn't missed
word G.a,ehter and chccr,J
President Harper then in few complimentary word
! introduced to the member, the new treasurer and
chairman Of the Executive Committee. the Hon. John
| W. Vrooman, who was received with applause and pro
| ceeded 10 read his report follows:
REPORT OF HON. JOHN w. VROOMAN.
Chairman Executive Committee Of the Mu.
tual Reserve Fund Life As,o ;iaton.
Balance December 81, s2,3so,6e6 %
| RECEIPTS.
| Ne, receipts from rnortuary calls January
TO December 81 0ncusiNc)' '--....--. 2,1J6,4Jl -
| Inter s. credited to Death Fund, January
TO December 81 (ncusiyeJ..-......... 95,731 %
ro,.l ,ecelpts S2,jj2. S6 -
ro,oi ................ 4,9i1, ,S73 40
! DISBU EASEMENTS.
| Death claims paid pr detailed list
herewith ""
pal,nce December 81 2,795,375 ~
Accounted for follows:
ro,ds and Mortgages S2,2I 800 90
| norinion - Canada 52.3l5 81
| 1,o',oce - Quebec ....... .. 50. 900 90
! c.,, -, e Louis .............. 900 90
rnc, 3, consos so 600. ............... % 800 90
| Cash in American Loan and Trust Com