The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-01-28
what tho Report OF Henry j. Reinnund
Second ylce.Fresident, showed.

Second vice.Fresident, showed.
Next In order came tho report Of the Second Vice
President, Heury J. Rsinmund. which Was heard with
close attention and manifest pleasure. II merits
production in its entirety here:
TO the President. Diredors oHd Members Of hs Aatsal
Re'errs Faad life As.oodtion:
GESrLxNRs-The report OF our esteemed President
which you like myself. have doubtless been grathed
and proud 10 hear and which 10 40 highly satisfactory
and 80 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 consequently substantatss the
psrmanence and success Of the Natural Premium Sys
TEN Of Life Insurance.
Tho success Of any undertaking 10 measured BY its
achievements and by tho comparison Of ts results with
those similar enterprises: and when these results
eclipse those already pronounced successful We ara
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 year with that OF
the eleventh year OF the New York State Life Insurance
Companies Eliminating from this comparison. for the
time being the three largest level premium companies
the Equitable. the Mutual and New York Life. thus
combining the remaining eight State Companies. We
md per Insurance reports that the Mutual
Reserve during the past year wrote OF
than all she other New York state
Life Companies. tho total usiness Of these Com
panes for the eleventh year Of their existence being
this Association last year amounted to S44.8ls08o
Again at the end OF the eleventh year these comps
MES had but $1b4 ASS a6l OF Insurance in FORCE
against S2l5 2O1 $40 shown BY the Mutual Reserves
statement an excess In favor OF this Association OF
$50 1884
Furthermore. tho Mutual Reserve during the year
1891 disbursed 10 Death Claims tSO6, 900 more
than did all these Companies combined during the cor
responding year OF each. the SAID disbursements By
these Companies amounting to &I.<8<<22el. while
~. hama ANta ptA ~ liz A
ceased members 81 800 Ios So and still Its income
less OF tho combined income Of these
Companies the latter being $609767671. against our
income Of So. 7O4. 1904.
Notwithstanding the additional expense naturally ~
sutnR from the of business and the greater
amount Of at iisk the expenses Of
ment OF this Association for the year 1891 nearly
1884 900 less than the combined expenses Of these
Level Premium organizations they being II 1857 30
or So 70 to each $1,000 Of insurance in force while
our expenses were but ep6e.75o%6 or ~<6 to each
81 900 In force Dec. 81 last.
Tho figures the eleventh year Of two Of the three
largest Of the Level Premium companies mentioned
not given the New York Insurance Department had
established until several years after they
plsted the year question but In order to show that
the which tho Mutual Reserve has already AZ
tanned is paramount that OF these Companies We
md that 1t not until the twsntyfourth OF the
Equitable. the twentyeighth year Of the Mutual Life
and tho year Of the New York Life that each
insurance In the Mutual Reserve had At the
close of its eleventh year.
Not alone In this country has the Mutual Reserve
bsen unparalleled success but the results already
achieved in foreign fields indicate greater future pros
perity and Is with pardonabs pride that point to
the following evidences OF steady progress and sub
| stsusial growth In other countries
Our records show that we had In Canada. at the BE-
ginning OF the year 1901 Insurance force Amounting
800 and at the close of the year this
At ON hl,k
s742 each 600 Of Insurance in force slst Decem
| beginning Of the year. S11%s0.e5o. and In France
amounts increased that the close Of the
they reached 400 800 and S8.276la5 respectively
and the mortality the year each 81 900 of this
business In force the end Of the year 1891 70
| spectively but $500 and $3.50
We begin tho year 1892 with gross assets OF S43%o,
7o2 o. and after deducting all actual and imaginary
liabilities therefrom. including the Voluntarily A.
sumed valuation Of Sb7o072 for all policies in force
8lst December last there remains . net cash and In
vested surplus OF S2825 +9220 and during the pas,
year have added nearly 100000 to Reserve OF
| Emergency Fund, making this Fund Sa.l55.22o.8%.
Rejoicing In the fact that every department Of oul
organization hesJ hs safni Of dsheHs~y
| dal and that many held workers and ONCE en-
ployees loyal industrious and energetic. can only
add what better evidence of the successful econom
CAL and conscientious administration OF your Rxeou
| tive Ofhcsrs need b. presented or desired
| Respectfully submitted
HENRY J. REINNUND.
Second vics.President.
NEW YoRE. Jan. ~, 1892.