New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-02-11

Commissions TO agents salaries
medical examners' fees,
printing advertising, legal,
real estate, and all other ex-
pepses Of TpanaCemcnt "oo'' ~
r.r.. Observation-Disclosures. 20l.767 40
Total disbursements -.....".....".... So,os'''o 10
Balance carried to increase net or logger
assets f'i0'VVo o.
Add net assets. Jan. l, lsol........ o''-o"o'f "
Net assets, Jan. l. 1892. ,a01'9i %
Add interest due and accrued, market value
OF stocks and bonds over cost and net de-
ferred quarterly and semi-annua pre-
muns os per itemized statement here
,h ~ Observation-Disclosures. 53o6s5 OF
Gross assets. Jan. 1, 1892. 13o ~ 70
Total liabilities ..................... o5'o''o-4 IL
c,rc,r. Ian 7 1892 .......... 80 o5o 155 81
FINANCIAL OPERATIONS.
INTEREST.
Tn. ,ntersst received in 1891 sossS74o.7l. In
forest collections been very close and are IN very
satisfactory condition On mortgage loans agsfegathg
$780, a7os7 there psstdue and unpaid interest on
IAN l. 1892 only Sal 1929 oneninth Of one per cent
RENTS
In 1891 wrre 1884 1880 decrease from the former year
q, a. 4s1 a. on decreas ed holding OF real estate OF
nearly 500 ooo rent account does not include any
constructive receipts payments for the Companys uAe
Of It's home once building.
THE PROFIT AND LOSS
,.,ce for 1891 wns the result Of the following tfansc
,ons: gain from real estate sales OF sl357ioA0 and
rom sundry items IS 573o7 total Of sl4l.32319 on
thu other hand loss on real estate sales OF
A oas7s and a .hrnkage OF premium bonds sold or
u,.ured and paid at s55,97717 total OF
ssoo1a e5: bs,ance in Company's favor, ssl ,slols
The balance IN 1890 very much larger. owing to
III. moro active real estate market Of that year.
REAL ESTATE.
During 1901 the company has closed out s5o7 7o6s5
psrce,s OF real estate which cost It sio5, oo267
Since 1879 It has sold property taken under foreclosure
at cost Of ss1 90. for so74ool2o4; gain Of
o. 400 oo5l4 and gain the Commissioners yaIua-
ton in that year OF s27ss,775.e3
Our present holding Of real estate taken under fore
closure is $685. 2s47o. We believe that as whole
IL will at least realize It's cost to tho company.
BONDS.
The comranv has had paid or has sold during the
bonds costing IL e74o 500 1t has bought bonds costing
it s1.ol50oo.
II holds bonds costing sl1 42O $685. 80, and worth jan
l.,
Special attention is asked the Items Of these bonds
in the detailed statement
LOANS on REAL ESTATE.
During the loans have been paid OF to tho amount
Of ESQ 80. and loans have been made to the
amount OF Go 1893 71572 the amount outstanding being
ESQ 4I7372.s7. We believe them to be thoroughly
secured and have already the close OF inter-
them.
INSURANCE OPERATIONS IN 1891.
MORTALITY.
Tho death issues in 1891 the company less than
so per OF tho tabular expected cost. making
saving already stated OF some $50 900 favor
able experience showing the reaching effect Of careful
selection business both individual risks and a. 10
localities and climates as we'll
The death losses Of the Connecticut Mutual have lccn
adversely criticised by the tontne companies and
Of tho younger nononne companies larger than thcI
own IN proportion 70 amount a. risk 10 other
assumed These criticisms proceed upon false
a base and so ignore fundamental facts well
the companies but not known 10 the public, that word
OF explanation may be useful
Tho chance Of death Increases with age. As given
body Of grow older the faster they will die and the
greater wl be the snount Of their death losses That
Ia what oyery hfo company experiences. what
u expects what its premiums and provide for.
It cxpecS that the who in at twenty and thirty,
and forty, &C.. WILL Of them. live TO be sixty.
eighty ninety and that 1T those the death rate
will be much greater than when the men were younger;
pany gains sgo it keeps ~ business on It's books
viii have Increasing body OF men grow
ing always older and having, therefore, higher
average death and larger amount OF death LOSSES
This precisely what they have provided against, and
they have actual figures Of the loss they
expect. The question with any company is, therefore
what its losses but how they compare In amount
and with the lo-ses which 1t expected the
business when It written. young company may
a small apparent amount of losses, and yet their
proportion 10 the expected losses may make them cN
cessive-a thing they will not speak o. greet Tonunc
company which is rushing In great numbers OF new men
order TINT they may drop out later and leave their
money behind them for the pool and 80 Is shifting It's
membership rapidly and keeping down the average ago Of
its insured have less aggregate loss than com
p1ny which builds up stable business and yet it, losses
be far greater In proportion to Its expectation ana
1t far and leave less surplus than the greater
apparent losses Of the more stable company.
The business OF the Connecticut Mutual lis peculiarly
stable We do business upon plans and by methods which
promote persistence We write comparatively little
dowment business, which does not keep men in long
enough TO grow old. and policies for Tontine periods
end Of which most men 60 out. II they hive been
lucky enough 10 stay through.
The stability OF business Is sttikngy evidenced by
only oncqusrter Of II il under forty
four another quarter is from fOrtyfou nifty
three another quarter from fftythree siXtyonc
and one-auarter Of II men over sxtyonc. And the
mortality older ages Is further below the expectation
than that the Younger ones. We are saving money
ON them for dividends the younger ages.
II the safety prosperity Of life Insurance depended In
the least degree keeping the business 1ght 10
be lepLslatcd out OF existence wholly insecure.
NEW BUSINESS.
Our members well aware that less a9xious
Gain members rapidly in great numbers. than 10
cvo present largo membership the best possible results
on their business We have therefore increased
proportion OF expenditure for bu'inesswhich would
have been the expense Of present membership have
nowthsanding mado fair gain the business Of the
preceding and made cOreideuDle addition the
amount Of business in force, which
axQo fosa