New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-01-25
AN ABLE DOCUMENT.
Thirteenth Annual Report Of President
Edward II. Harper, ending Deccm-
Der 81, 1893.
To the Officers. Directors and Members OF
tho Mutual Reserve Fund Life Association.

o the Officers Directors ana members OF
tho Mutual Reserve Fund Life Association.
Gentlemen
1t with pleasure and pride that we meet together TO-
day 20 the fact that another years Work
IN the history Of haS been completed:
another years triumph has been recorded that the DOCKS
cr,n tho transactions Of for the tir
year been closed and that the results cover
ing every department have been the grandest ever
achieved In any year in history.
our assets large as to-day; our surplus
never so great; our larger than ever
corded in any previous year increase Of business
simply phenomenal: payments to the widows ana
orphans exceed before dsburscd In any pre-
vious twelve months; future never was so bright
ASSETS.
Our gross assets have during the 1893
from SASS 2sGoG to s5.i3s5ca6 making net gain fer
the year of $3j3. e3O.3o
RESERVE FUND.
We have increased Reserve Surplus Emergency
Fund within past twelve months from 1871 1850 to
$3.50 800. i3 making a net gain Of $2is.O223i
INCOME
our income during the year 1893 from all sources
amounted to siias 1890 against income Of S'M',-
for year 1897 making net increase OF income
Sio0.OOo.Oo
DEATH CLAIMS.
Nearly Three Millions Of Dollars been dsbursed to
and orphans and representatives. Of our de-
ceased members during tho year 1873 the exact sum
being s2a5i $50 q making Of disbirse-
year 1892 OF quarter Of Million Dollars
and for the years OF existence <loS3e NJ
have been distributed among than six thousand
widows twelve thousand orphan children thus tur-
nishng homes and shelter widow food. clothing
and education the children Of deceased members
md 81 1850 1000 has been distributed ny
this Association year since the date OF ITS or
raniza,on this benencent object Furthermore we
have accumulated cash surplus Reserve or Emergency
Fund which, n, IN. close Of the year lso3 exceeded
81 80 for $1,000 Of outstanding death claims OF
every description and tho same time single mortu-
Dry call upon members now produces more than
s515 90 IN cash
AN ECONOMIC SYSTEM.
TIL. ,conorne principles underlying the system the
Mutual R.ser are tho fact that out Of
tho total payments during the year 1893 by the members
In r,orunry premiums $3.50 o3 oS there was paid In
death dement's OF s2o3i y. and In addition
,- he,c was added the sum seis 022 - TO the Re-
serve or Surplus Emergency Fund; thus the payments
10 our benencnres added to the hccumuatons TO the
credit ~ our living members equal within fraction the
gross oruary premiums paid by all the members during
the year.
During the year 1893 received applications for mem
borshlp asgrecang s6I 100 s3io the largest volume OF
h,spcsa ever submitted In the history OF
INF, Association OF this amount there was rejected
az ,oo oGi 81 or 10 per ~ all those who applied
were declined admission. while there was accepted and
written sT 7i9 5000 This amount rot only exceeds the
record Of any previous year history but surpasscs
SAVING TO MEMBERS
Til. amount already saved living members by re-
auction Of premiums III" rates charged
Nv the Old system companies for ordinary Life Insurance
NOW exceeds the ~ Forty Million Dollars Tho saw
ing n, the present time living members exceeds
NV. Million Dollars PEI year. To further illustrate the
great advantage which has accrued 20 the
enoaiarcs Of our deceased members would direct your
attention 10 the fact during the 1898 there were
opn-ov.d FOR payment 10y the Board 81 Directors Death
Claims amounting 02s 100 and the total payments
nude ly the deceased members for this insurance to the
Association was Si6l ooj1s; those same payments
computed n, ard for ordinary life insurance
under the old companies would have realized to
the benenciares only SIZES 5000 thus making an OK
cess in benefits paid by this Association over what
the old system companies would have paid for equal
outlay by our deceased members Of 81 500 800 In other
words our benchcarics 1898 have received One
and Million Dollars than they otherwise
would have under the old system for the
outlay part OF the Insured FOR the single OF
1893.