The Portland daily press., 1892-01-27
s7e,sos.
Decrease,
xFxe1IlSive of additions

Decrease, S76,SOS.
*Exc1usive of additions.
CAREFUL SELECTION OF RISKS.
@For more than forty-two years the
Union Mutual has been engaged in the
business of selling Life insurance.
period exceeding the average duration
of life-and with old and new business
alike ON it's books, we are pleased to re-
port that the mortality experience for
the year has been most favorable, and
largely within the table-rates. This
highly successful experience, continu-
ing uniformly as it has from year to year,
confirms beyond question the soundness
of the table-rates of mortality the Com
pany by law is required to use, and the
extreme care taken in the selection and
rejection of proposed insurers. The
average duration of policies upon which
death claims were paid was seventeen
and one-half years. The average age at
death was fifty-eight and one-fourth
years; the average amount per policy
paid was $2057.
MAINE NoN-FoRFEITURE LAW.
The average duration of policies paid
during the year-under the Maine Nom
Forfeiture Law-between laspe and sub
sequent death of insured, was three
wears and two months. The total
amount paid to end OF December, 1891,
on lapsed policies, by virtue of the Maine
Non-Forfeiture Law was $351, BAIT.
PAYMENTS TO PoLIoY-HoLDERs.
The payments to Policy-holders for
| the year were as follows:-
Death Losses, $464, ,9o435
Matured and Discounted Endow-
ments, Surrendered Policies,
Dividends and Annuities, 227,99529
| see2, ,ss964
The Company during the past fifteen
years has paid more to it's policy-holders
| in proportion to its size than any Com
pany in the world for Death Claims,
Matured Endowments, Annuities, Sur
rendered Policies and Dividends, which
payments now aggregate $14, ,449, 1850,
willie the total amount paid to policy
holders since date of organization has
been $25, 737, ,951.25.
REAL ESTATE.
The aohole of the real estate sold by the
| Company with the exception of one
piece, which was sold for $2,000,) to-
| gether with that remaining unsold, was
a legacy from former administration.
This statement is probably the best evi-
dence that can be afforded of the care
exercised in regard to loans on mortgage.
During the past year the Com
.pany. sold Real Estate for .s155, .ss
| Since January 1, 1877, and to the
close of 1891, the sales of Real
| Estate by the Company amount
which vas carried on the books
at the end Of the year preceding
the respective sales at........ 3,8O7 ,O75.O4
| Making profit difference Of. S56,294.62
These large sales of Real Estate at
| 81, Il nf hof I11od
in the Company's Assets are not only re-
markable as showing the conservative
values placed upon the properties already
sold, bnt they also constitute a reliable
| criterion of the carefulness with which
| the Asset value has been computed upon
the property remaining unsold.
POLICY CONTRACTS.
In the early part of the year the ques-
ton of liberalizing the policy contracts of
the COMPANY was considered and as re-
suit new applications and policy blanks
were adopted and the old forms retired.
The present policies of the Union Mutu-
al, embodying as they practically do, all
the liberal ideas in Life Insurance, and
protected as they are by the popular
Maine Non-forfeiture Law, present con-
tracts as whole which we believe to be
unexcelled in liberality.
1 FINANCIAL POLICY.
The Company has continued it's policy
of accommodating large portion of its
funds in what are known as ''quick as
sets.'' namely, Bonds, Stocks and other
Securities of like kind more than one
half of it's present assets being composed
of this class of securities; and we are
able to report as heretofore, that in
striking balance on our books for the
year 1891 the market value of these Secu-
rites exceeds the cost.
FUTURE BUSINESS.
The foregoing exhibits demonstrate
that the Company's business policy has
been thoroughly successful, having been
administered during the past year upon
the same lines as heretofore, maintain
ING the internal affairs of the Company in
strict harmony with sound business prin-
ciples."
In conclusion, we would say that in our
last Annual Report we remarked that
"such policy if pursued to its legiti--
mate conclusion must lead to increased
business and the prosperous condition
of the Company confirms the correctness
of those views, and warrants us in eX-
pecting that similar results Will be OBJ
tanned in the future.
Respectfully submitted,
JOSIAH H. DRUMMOND,
JOHN E. DEWITT,
PERCIvAL BoNNEY,
MARQUIS f. KING,
THOMAS A. FOSTER,
FRED E. RICHARDS, Director,
EDWARD A. MOVES,
FREDERICK RoBIE,
FRANK E. ALLEN,
JAMES YEREANCE,
SELDEN CoNNoR,
FORTY-SECOND ANNUAL STATEMENT
OF THE
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