St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-02-01
UNPARALLELED SUCCESS.
what the Report OF Henry J. Rein
Eiund. Second Vice President,
S7lnwaE

Next in order came the report of the Sec
ond Vice President, Henry j. Reinmund
which was heard with close attention and
manifest pleasure. 1t merits reproduction in
its entirety here:
To the President. Directors and Members of
the Mutual Reserve Fund Life ASS ciatiOn
GENTLEMEN: The report of our esteemed
President, which you, like myself, have
doubtless been gratified and proud TO hear,
and which is SO 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 sta
bility of this great Association. and which
consequently substantiates the permanence
and success of the Natural Premium system
of Life Insurance.
The success of any undertaking is meas
ured by its achievements and by the COM
parison of its results with those of similar
enterprises; and when these results eclipse
those already pronounced successful, we are
compelled to acknowledge that the pros
perity 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 it's
eleventh year with that of the eleventh year
of the New York State Life Insurance Com
panies Eliminating from this comparison
for the time being, the three largest level
premium companies the Equitable, the
Mutual, ana New York Life, thus combining
the remaining eight State companies, we
find, as per the State Insurance reports that
the Mutual Reserve during the past year
wrote over SO, Coz, 900 of new Insurance more
than all the other New York State Life Com
panies, the total new business of these COM
panies for the eleventh wear of their exist
ence being Sal, 1S0.772, whereas the new bust
ness written by this Association last wear
amounted to S44.3lS.065.
Again, at the end of the eleventh year these
companies had but S154, 456, 96l of Insurance
in force as against S2l5. 207, go 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 disbursed in Death Claims over
SS05,000 more than did ali these companies
combined during the corresponding year of
each, the said disbursements by these CON-
panies amounting to ST. Asa, 422 OF, while this
Association paid to the beneficiaries of its
deceased members s., 290, 10S.S0, and still it's
income was less than three-fifths of the COM
bined income of these companies. the latter
being 5000, 676.7l, against our income of
So, 704, 126. Al.
Notwithstanding the additional expense
naturally resulting from the>excess of new
business and the greater amount of insur-
anee at risk. the expenses of management of
this association for the year 1891 were near
ly 1884, COO less than the combined expenses
of these Level Premium organizations, they
being 81, 343, 1870, or $50 to each $1,000 of
insurance i'll force, while our expenses were
but $3.50 759.46, Or 81 As to each $1,000 in force
Dec. 81 last
The figures for the eleventh year of two of
the three largest of the Level Premium COM
p&lilGS are LOU given, HIS luS New
York Insurance Department had not been es-
tablished until several years after they COM
pleted the year in question. but in order to
show that the success which the Mutual Re-
serve has already attained is paramount TO
that of these Companies. we find that it was
not until the twenty-fourth year of the
Equitable. the twenty-eighth year of the
Mutual Life, and the torty-third year of the
New York Life that each OF these companies
could show as large an amount of insurance
in force as the Mutual Reserve had at the
close of its eleventh year.
Not alone in this country has the Mutual
Reserve been an unparalleled success. but
the results already achieved in foreign fields
indicate greater future prosperity, and it is
with pardonable pride that we point to the
following evidences of our steady progress
and substantial growth in other countries.
our record shows that we had in Canada
at the beginning of the year 1891, insurance
in force amounting to S12, 959, 800, and at the
close Of the year this amount reached Sl4,-
els, 800, the mortality on which was but 81. ~
to each $1,000 Of Insurance in force 3ist De-
cember last. Again, we had in force in Great
Britain at the beginning of the year 81, 49,
$50, and in France Sweden and other For
were increased so that at the close OF the
year they reached S14, 490,S 500 and S6,275, 1875
respectively and the mortality for the year
to each $1,000 of this business in force at the
END of the year 1891 was respectively but
SAGE and $3.50.
We begin the year 1892 with gross assets of
S4,849, 202O 9, and, after deducting all actual
and imaginary liabilities therefrom, includ-
ing the voluntarily assumed valuation of
s57O.072 for all policies in force 81st Deem
Der last there remains net cash and invest
ed surplus of 81. 925, 20. and during the
past year we have added nearly 100000 to
our Reserve or Emergency Fund, making
this Fund So, 155. 220.94.
Rejoicing in the fact that every department
of our organization is free from even the
taInt of dishonesty or scandal, and that our
many field workers and office emplOyeS are
loyal, industrious and energetic, 1 can only
add, what better evidence of the successful,
economical and conscientious administra-
ton of your Executive officers need be pre-
sented or desired?
Respectfully submitted.
HENRY j. REINMUND,
Second Vice. President.
NEW YORK, Jan. 81 1892