Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-01-31
UNPARALLEL ED SUCCESS.
What tho Report of Henry j. Reinmund,
Second Vice President, Showed

Second Vice President, Showed
Next in order came the report of the Second
Vice President, Henry j. Reinmund. which was
heard with close attention and manifest pleasure.
1t merits reproduction in Its entirety here:
1b the President Directors and Members Of the Ms-
t,tot Reserue Fund Life Associntion:
GENTLEMEN-The report of our esteemed Presi-
dent which you, like myself, have oubtless been
gratifed and proud to hear and which is so highly
satisfactory and SO comprehensive in detail that
will encroach upon your time only to point out
few facts which indicate the steady progress and
stability of this great Association, and which
sequently substantiates the permanence and sue
cess of the Natural Premium System of Life Insur-
ance.
The success OF any undertaking is measured by
its achievements and by the comparison of its re-
suits with those of similar enterprises; and when
these results eclipse those already pronounced
cessful we are compelled to acknowledge that the
prosperity Of the undertaking is established.
Therefore. in order to impress you with the fact
that the Mutual Reserve is successful institution
will contrast the history of its eleventh wear
with that Of the eleventh of the New York
State Life Insurance Companies. Eliminating
from this comparison, for the time being the
three largest level premium companies, the Eduit-
able, the Mutual and New York Life thus CON-
bining the remaining eight State Companies, we
fnd as per the State Insurance reports, that the
Mutual Reserve during the past year wrote over
s3 900. COO of new Insurance than all the other
New York State Life Companies, the total new
business of these Companies for the eleventh year
of their existence being s41 1sO, 772, whereas the
new business written by this Association last wear
amounted to $4, 318, g65.
Again. at the end of the eleventh year these COM
panes had but sl54.45s, 961 of Insurance In force
as against s2l5. 207. 910 shown by the Mutual Re-
serves statement, an excess in favor of this AS
sociaton of $50, 74S, $40.
Furthermore, the Mutual Reserve during the
year 1891 disbursed in Death Claims over sso5 ooo
more than did all these Companies combined dur
ing the corresponding year of each, the said dis
bursements by these Companies amounting to 81
49, 422. o. while this Association paid to the bene-
ciaries of its deceased members S. 80 1Os 80 and
still its income was less than three-frths of the
combined income OF these Companies the latter
being s6, o97, $751; against income of S. 7o4-
126.H.
Notwithstanding the additional expense natur-
ally resulting from the excess of new business and
the greater amount of insurance at risk the ex-
penses of management of this Association for the
year 1871 nearly 1884, 900 less than the COM
bined expenses of these Level Premium organiza-
tons they being ST. 343 30 or to each 81 ON
of insurance in force. while expenses were but
$685. 75s 49, or 81 As to each g. 900 in force Dec 81
last.
The figures for the eleventh year of two of the
three largest of the Level Premium compauies
mentioned are not given, as the New York Insur-
ance Department had not been established until
several years after they completed the year in
question. but in order to show that the success
which the Mutual Reserve has already attained Is
paramount to that OF these Companies we find
that it was not until the twentyfourth year of the
Equitable, the twenth-eighth year of the Mutual
Life and the forty-third year of the New York
Life that each of these Companies could show as
large amount of insurance in force az the
Mutual Reserve had at the close of its eleventh
year.
Not alone in this country has the Mutual Reserve
been unparalleled success, but the results
already achieved in foreign fields indicate greater
future prosperity and 1t is with pardonable
pride that point to the following evidences of
steady progress and substantial growth in
other countries.
Our records show that we had in Canada at the
beginning of the year 1891 insurance in force
amounting to sl2 9s9. 800, and at the close of the
year this reached s4. 615, 800 the mortality
on which but 81 AZ to each s coo of Insurance
in force 31st December last Again had in force
in Great Britain at the beginning of the year, SILL
4S5 $50, and in France, Sweden and other Foreign
Countries, 81 319, $50, which amounts were in
that the close of the year they reached
s4 4sO 800 S. u.s. 1a5 respectively. and the
tality for the year to each ST. 900 of this business
force at the end of the year 1891 respectively
but 3.92 and $3.50.
We begin the year 1892 with gross assets of a. a4s
2O2 o. and after deducting all actual and imaginary
liabilities therefron. including the voluntary as |
sumed valuation of $50 or for all policies in force
3lst December last there remains net cash and |
invested surplus of 81 925. 492. %. and during the
past year we have added nearly s400. 600 to our |
Reserve Emergency Fund. making this Fund |
s., l55. 30. "a.
Rejoicing in the fact that every department of |
our organization is free from the tdit Of dis
honesty scandal and that our many field workers
and Office employees loyal, Industrious and |
energetic can only add what better evidence of |
the successful, economical, and conscientious ad-
ministration OF your Executive Officers need be |
presented or desired? |
Respectfully submitted,
HENRY j. REINMUND. |
Second Vice President.
NEW YORK, Jan. q, 1892.