The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-01-28

or an average Of over for each working day Of
the year.
While. Of course the unprecedented success Of the
Association largely due TO the character aud zeal Of
its agents. mainly due the soundness Of its rock
foundations and above all to the superb business and
personal character OF Its President His warm sympa
thies toward ali who around and about him. his
extraordinary confidence, enthusiasm. AID pluck his
devotion to bis work. his knowledge Of and
the smallest details Of every day work have not only
inspired all his oeers and soldiers but they have
manded the respect and admiration Of every business
man who knows him. D.wRLLs.
Third vice.President.
Next followed the report of the Comptroller. &. ?.
Phelps, which be summarized In this one ringing
sentence taken from It, ~ unhsstatinsly state that
greatest possible taken to prevent
injustice being done . single member: that every
contract agreement was carried out with equity and
fairness all; that all Just death claims promptly
paid or before they were due careful investigations
being made when necessary to protect the Association
and that when doubts arose the benenciariss were
always given the benefit Of such doubt; that the Re-
serve Emergency Fund was handled and invested with
the most scrupulous care"
No report read except be that Of President Harper
WAS received with greater evidence OF endorsement
than that Of Chairman Bisseli OF the Investment
Committee. Among other things II said WAS
Tho 81 2s7 700 OF tho Reserve or Emergency Fund
invested Bond and Mortgage. and which your com.
nittee have especially to deal with. 10 on hrst.class
improved, ana paying rear estate IN the CITY OF new
York. and represent hrst mortgages less than NO per
cent. OF its appraised value by Hon. Michael Coleman
VINO recognized by all real estate men as one OF the
most competent careful and conservative appraisers
In the city OF New York"
The report OF O. D. Baldwin. Chairman OF the Death
Claim Department. showed that during the year there
had been audited and paid 100 benefits amounting to
g. 200. lOa 30. an excess Of Sl<38lo80 over 1890
This mortality showing compares favorsby with pre-
vious years when the increase OF business
about $40 oo,ooo. IL considered.
Tho presentation OF tho reports from the foreign
agents Of the Association listened TO with intense
interest The extension OF the Mutual Reserve Fund
Life Association 10 European countries 10 one Of the
recent proofs Of the beneence and the
idea on which the Association 10 established. Il was
made necessary by the request from European peoples
that the advantages OF the Association DO made avail
able to thsm and their wish nrst reached extended
realization upon the memorable visit Of President
Harper abroad less than two years ego Since then the
foreign busnsss Of the company has nouIshsd to the
satisfaction Of the European members and the bsnens
| Of all
The satisfsc,ory showing In the Auditors reports was
Of the pleasant features Of the meeting The fol.
lowing figures are taken from II;
Total Net Receipts. - res %
Total Amount OF Death Claims Paid 1oyo0o,lIl 80
TOTAL CASH RESERVE
SURPLUS Al ABOVE. os,I5e.SDO @
Mortusry Fund
Cash In ofice ACKNOWLEDGEMENTS. $50 OF
sis.slo.1os 20
JOHN j. AcKER.
mos: ii i. :si.!s;;SI. =. Auditors
ne mAia feature Of Assistant Comptroller AccheE