The Indianapolis journal., 1892-01-29
COLOSSUS OF INSURANCE
Marvellous Growth and Progress Of the
Mutual Reserve Fund Life Association.
1t Has Marched Steadily from One Success
to Another, and Enters Its Eleventh
Year Under circumstances Of Ex.
traordinary BrilIiance.
Special to the Indianapolis Journal.

Special TO the Indianapolis Journal
NEW YORK. Jan. 2S-The eleventh an
nual meeting of the members of the Mutual
Reserve Fund Life Association of New
York took place yesterday in the great
offices of the company. in the Potter Build
ing President Edward b. Harper. in pre-
senting the report, said that the Mutual
Reserve Fund Life Association having fin
ished the first decade of Its history under
the most favorable auspices possible he
was extremely pleased to say that the re-
suits Of the eleventh year were not only
even more favorable. but that the ever
constant. never ceasing march of this asso-
citation from success to success. aston
ishinR its friends and paralyzing Its
enemies. had continued. and that 1t entered
on this second year of Its decade with an
amount OF business in force that exceeded
the total business done for the same period
of time by all the three great life insur-
ance companies combined. namely: the
Equitable. the Mutual and the New York
Life insurance companies of this city.
There can be no greater evidence of tue
work done by the officers of this company
than this. IJ Is the best evidence that the
public appreciate, and will support. the
natural premium system of life insurance
as exemplified by this association, of which
IL Is the author and practi-
o ss kSo% that prsSSded sSd conDsnv ahs pui
managed by officers of ability. experience
and honesty. The best evidence oe this
fact is the progress of the company through
ont the past eleven years. not only AS
shown by it's insurance in force, but by its
accumulation of invested assets and the
immense amount of death claims that 1t
has paid. All this has been done with
premium charged to the members of less
than half Of that which the old line COM
must be recoiIected that at the
annual meeting, held Jan. %. 1889,
special emergency fund was provided which
has been increased within the year 1891.
from S250,0O0 to $4,000 and is held in trust
by SIX OF the strongest banking corpora
tiOns in the country. Furthermore. the IN
vested assets of which full particulars are
presented to every member of the company,
are recorded in such way that every one
can Judge for himself as to the security and
care exercised by the officers of the COM
pany in making such investments. This is
a fact which is worthy Of the particular at
tentlOn of every one who seeks life lnsur-
ance, and is exemplified by the fact
that, during the entire period of the
history of the association. not dollar
has ever been lost upon any loan made;
neither have any losses arising from said
loans ever been charged Oft TO profit and
loss account. 1t is doubtful if q similar
statement can be made by any other life
insurance organization in the world. AS an
evidence of the care displayed in the ad-
mission of members and the economy ex-
erclsed in all departments of the business
suffice 1t to say that the Mutual Reserve
Fund Life Association. during the past
year. had not only the lowest mortality to
each $1,000 of Insurance. but 1t spent
only one-thlrd in expenses per
$1,000 of insurance compared with each
e A. 10. ,v.I
yet at the end of the year the ratio of net
assets to each thousand dollars of liability
was double that of the three other COM
panies. All this In the face of the fact
that the initial cost in this association is
less than halt that In the old line c0m-
panies. In view of the rapidly increasing
business, which has obliged us TO change
our home office on four different occasions.
the board of directors have entered into
negotiations by which q modern fire. e-prOof
office building. which will cost, with the
value of the ground. about million dol
lars is to be erected and known as the
Mutual Reserve Fund Life Association
Building.
President Edward B. Harpers report
concluded by stating that the executive
officers entered upon the year 1892 with alb
solute confidence for the future. The as
socIation was never in better condition
than to-day. 1t Will continue to press for
ward in the cause of life insurance reform.
and to furnish life insurance pure and SIM
pie, dlvested of all savings-bank or specu-
latlve risk so as to furnish the people with
an absolute security in the shape of life In
surance at cost Our system has been tried
now for many years. and is the only
one to-day that charges q fair rate
to the policy-holders, and does not entail q
system of gigantic waste and eXtrava-
gance, all of which, of course. Is provided
for out of the policy-holders' money.
President Edward b. Harper's report was
received and adopted with great enthusi-
asm, and as he took his seat he was greeted
with an outburst of applause, which
showed how gratifying the ablest annual
report that has ever been made to the asso.
clation was to the meeting. Representa-
tives and members of the Mutual Reserve
were present from all parts of the United
States and Canada. Great Britain, France.
Belgium, Germany, Switzerland and
Sweden.