The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1893-02-01

although the payments to pollcy-
holders during the same period have ag-
gregated S4,09S, 1888, a sum which III
itself represents So per cent of the Total
Premiums received.
ASSETS, LIABILITIES, SURPLUS.
The Assets, as per Schedule appended
are $6,429, 927.22. The Company owes
Si45, 500. "a, which includes claims of
every description; while the value of its
policy obligations, computed in accord
ance with the highest standard known to
the law, is SIS, 952, ITO leaving a Surplus
over Liabilities of every description OF
1891 ,548.SS.
NOTICES OF DEATH CLAIMS.
1t is the Companys rule to treat all
the year as a liability.
December 81, 1862, when compared
with the corresponding date of $780,
shows that the Increase of the Com
pany's Insurance in force was more than
Five Millions of dollars, Notwithstanding
which, the Notices of Deaths for the two
years, were as under
For Year ending Dec. 81, $780,. .*$535,478
For Year ending Dec. 81, 1892. s*51S, 565
If any proof were needed of the cor
rectness of the Company's policy in its
acquisition of New Business, it is best
supplied by the above fact
sExclusive of additions.
CAREFUL SELECTION OF RISKS.
The Company's Mortality experience
for the past wear has been favorable, be-
ing largely within the liable Rates. of
expected deaths, which affords evidence
of the care exercised by the Company in
it's selection of risks.
MAINE NoN-FoRFEITURE LAW.
The ayeraae duration of time between
lapse of Policy and death of insured,
upon policies paid during the past year
under the Maine Non-F Forfeiture Law,
was Four YEARS.
During the year 1892, tbirty-one No
tees of Deaths were received upon Poll
cies that had lapsed for non-payment of
premiums, aggregating in Insurance,
Nine-One Thousand Dollars, and consti-
tuting more than Seventeen per cent of
the Company's total amount of Death
Notices for the year.
No other Company can show any such
record of claims in single year upon
lapsed Policies.
The total amount paid b. the Company
to the end of December, 1892 on lapsed
Policies, by virtue of the Maine Non-For-
1elburo Law, Was S4O9, oz t.of.
PAYMENTS I'd PoLIcY-HoLDERs.
The payments to Policy-holders for the
year were as follows:
Death Losses SAT- ,534. SO
Matured and Discounted Endow-
ments, Surrendered Policies, Divi-
dendS and Annuities -. 49,. .,... 223, 63O.74
1896, o65.7o
The Company's payments to its Policy
holders during the past sixteen years has
averaged nearly Nine Hundred and Fifty
Thousand Dollars per year; while the
total amount paid to Policy-holders since
date of organization has been S26, 1885,
016.95.
REAL ESTATE.
The Real Estate Sales during the past
year, are best seen by the following
Real Estate sold during 1892. 1854, 1862 90
| which was carried ON the Com
pany'S books on the 31St of De-
| cember, 1891, at............... 03.617.53
Profit difference. ......... s5o.5s4.47
| From January 1st, 1877 to the
end of 1892 the sales of Real
Estate by the Company,
| which was carried on the Com
panyS books at the end of the
| year preceding the respective
sales al. .-......-.. ..-...-. 4,UlO,o0Zof
Profit difference, ....... $1oe,sae 90
nearly one-half of which profit in this
connection has been upon the past years
| transactions.
| OVERDUE INTEREST ON MORTGAGES
| A reference to the Schedule of Assets
annexed hereto, will show that the Com
pany has 81, 430, 29S.71 invested in Mort
cages. The overdue interest on same
December 81, 1892, was $3.50.
| On December 81, 1876, the year in
| which the present management assumed
| the direction of the Company's affairs,
| the overdue interest on Mortgages was
| 1881, 52057
POLICY CONTRACTS.
So as to keep the Company's Policy
Contracts unexcelled for liberality, sum
dry changes have been made from time
to time during the year in the Policy
Forms and Applications, and an entirely
new issue of Trust Policies having been
added, the Company's present Policy
equipment is of very comprehensive
| character.
FINANCIAL POLICY.
For some years past the Company's
Policy in regard to it's Investment of
| Assets, has been to maintain a large pro-
| portion of same in form admitting of
ready conversion. A continuation of
/ that policy has obtained during the past
year; and it is pleasing to note that on
| December 31st, 1892, the Market Value
of the Companys Securities over Cost,
showed marked increase over those of
the year preceding.
SUMMARY.
Briefly stated, comparison with the
| figures Of the preceding year shows the
| following results
INCREASED ASSETS,
| INCREASED NUMBER OF NEW POLICIES
| ISSUED,
| INCREASED NEW INSURANCE WRITTEN,
| INCREASED PREMIUM INCOME,
| INCREASED INCOME FROM INTEREST AND
| RENTS,
| INCREASED TOTAL RECEIPTS,
| INCREASED NUMBER OF POLICIES IN
FORCE,
| INCREASED INSURANCE IN FORCE.
THE OUTLOOK.