Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-02-03
What the Report of Henry j. Reinmund,
Second Vice President, showed.


Second Vice-President, Showed.
Next in order came the report Of the second
vlce-Presdent, Henry j. Reinmund, which was
heard with close attention and manifest plea
sure. 1t merits reproduction in its entirety
here.
To the President, Ii-ectors, and Members Of The
Mutual Rescrpe Fund LIFE Association:
GEsrLENES,-Ther report Of our esteemed presi-
dent, which you, like myself. have doubtless
been gratiHed and proud to hear, and which Is
30 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 consequently substantiates the per-
manence and success Of the Natural Premium
System Of Lie Insurance.
The success Of any undertaking Is measured
by Its achievements and by the comparison OF
its results with those OF similar enterprises; and
when these results eclipse those already pro-
nounced successful We are compelled 70 &C.
knowledge that the prosperity OF the under
taking Is established.
Therefore, in order TO impress you with the
fact that the Mutual Reserve is successful in
stitution, i will contrast the history OF its
eleventh year with that Of the eleventh year Of
the New York State hie-iDsurence companies.
eliminating from this comparison, for the time
being, tho three largest level-premium COM
panies-the Equitable, the Mutual, and New
York Life, thus combining the remaining eight
State companies, We ind, as per the State in
surance reports that the Mutual Reserve during
the past year wrote over 100000 Of new in
surance more than all the other New York State
life companies the total new business OF these
companies for the eleventh year OF their exist
ence being s41, $780, 72, whereas the new bust
ness written by this association last year
amounted to s44 ,31s,985.
Again, at the end OF the eleventh year these
companies had but e154 ,45S,961 Of insurance
in force, as against s215,207, 9I0 shown by the
Mutual Reserves statement-an excess In favor
OF this association of $50, 74S,949
Furthermore, the Mutual Reserve during the
year 1891 dlsbursed in Death Claims over $685.
900 more than did all these companies mbined
during the corresponding year OF each, the said
disbursements by these companies amounting
to 81, 4S4, 422.91 while this Association paid TO
the benefciaries OF its deceased members
81 900, 10S.S0. and still its income was less
than three dfths Of the, combined income OF
these companies, the latter being 1907, 678.71,
against our income OF s3,704, 1854.
Notwithstanding the additional expense natu-
rally resulting from the excess Of new business,
and the greater amount of insurance at risk,
the expenses Of management OF this asso-
citation for the year 1891 we're nearly s3s4.O00
less than the combined expenses Of these Level
Premium organizations, they being e1.343,-
$3.50. or es.70 to each 81 900 Of insurance In
force, while our expenses were but 1853, 1853. 40,
or SAG to each 81 1000 in force December 31st
last.
The figures for the eleventh year Of two Of the
three largest OF the Level Premium companies
mentioned are not given, as the New York In
surance 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 1t was not until the twenty-fourth
year Of the Equitable, the twenty -eighth year Of
the Mutual Life, and the forsy-third OF the New
York Lite that each Of those companies could
show as large an amount Of Insurance In force
as the Mutual Reserve had at tho close OF It's
eleventh year.
Not alone In this country has the Mutual Re-
serve been an unparalleled success, but tho TO
suits already achieved In foreign fields indicate
greater future prosperity, ana IL Is with pardon
able pride that We point TO the following evi-
dences Of our steady progress and substantial
growth In other countries
Our record shows that We had In Canada ct tho
beginning Of tho year 1891 insurance In force
amounting to sI2, 9S9, 800, and at the close Of
the year this amount reached e14, 815, 800, tho
mortality On which vas but e7.42 10 each u, 900
Of insurance In force 3lst December last. Again,
We had I'm force In Great Britain at the begin
ming OF the year ell,4s5. ESQ., and in France.
Sweden. and other foreign countries a, 3l9. 700.
which amounts vere Increased 70 that 81 the
cIose Of the year they rssehs1 "a, 100000 and
6,21b,l35 rospsetivsiy. nd Ne mortality for the
year 70 sech d 900 II tbs business IN force q
ths e cad q tas yssr 1891 va respectively bus
We bssis ne ysa< 1884 vim gross ssssss Of
o4,34o,2O2.0o. and after deducstng III actual
and Imaginary liabilities thsrsfrouls inclndiug
The Voluntarily aesulsed valustion o. >n70,07
iex ~ pc'lcass Y sosee 5!ss pseen6:s IS shers
o3Iooeu1o&>A an4 G9oo ~ - yeos ~