The advocate., 1894-05-16

are NOT agreements upon bu0 p3Hb OF bkie COM
pAny to pay any definite sum, but she amount
payable to the bene6ciaries is wholly depend
emit upon the result OF an assessment OF the
members liable therefor. These policies can
have no possible effect upon the present con-
dition Of the company or its ability to meet
It's maturing obligations.
"As these certificates become claims by rea-
SON Of the death Of the assured an assessment
Is made to pay the claim.
at seems hardly necessary to state that
purely after death assessment certificates
have NO present value. Failure to pay an as
sessmenE works an immediate forfeiture and
creates no liability whatever upon the com
pany to return any part OF previous contrtbu-
tions, for the simple reason that such contrt-
buttons are wholly exhausted In the payment
of death claims and proper expenses
"I find that for all other policy contracts
made by the company the reserve now in the
hands Of the state treasurer is more than
required by the laws OF the state OF Kansas
n devoted considerable time to the records
OF the company Ss reciting the history Of its
sTbe narration Is instructive and excellent
From the organization Of the company down to
this time the record d1scloses the most anxious
rsvard by the present management for the
heat interests Of its policy and certificate
holders. .,,o. ,n,Uo,..roo ma,
taken without deliberati0n and due consider
alton for all Of the Interests entrusted 70 the
care Of the officers and directors.
aNo change in the plans OF the company was
mad untif tne fullesS opportunity was gfyea
70 members to see the effect and approve the
contemplated action.
3tams AZ shown by the books and the report OF
Measrs. Good & Fellows, the expert account"
ants called In by you. -. ,,--...,
aThere has never been one cent diverted
from the mortuary or other sacred trust lunds
70 pay ma %S1SgemSnS n4gSeTTnS Of Of new business
aThe practice Of the management In care
Rullv Looking ahead and depending upon sur
Dlus in the profit and loss account Tor the
payment Of the expenses necessary lhcuILe9
bv a life company In the extension OF terFl'
t9rv cannot be too highly commended.
.alfhe ratio Of expense OF the Kansas Mutual
TiFe has beep, by me, compared from data at
hand with the ratio OF expenses OF similar
companies at the same age, ana nnu tne re-
snlt highly favorable to the company under
AIN Conclusion, wish TO say that the result
NJ An Examination, which believe unusual In
its severity, establishes the fact that the Kan
sas Mutual Life is In splendid conaltloni;
'EThe records Of the company show patience
industry and high executive ability upon the
mart az the managing officers, and. so FAR as IL
is possible to Judge the future 0y tine past
votir Examiner 10 confident that these gentle-
men possess all OF the requlsltes nScess"Iy ~, W
successfully conduct the affairs OF the COM
pany. =, Tho sorious roanonai.
bllity resting upon them, ana thelr 9uminis-
trstion is guarantee TO the memDeEs gI, qr Sho ne
Guarded by honesty, and invested with 1ntelll-
gence [signed] ~. N' nlLh,
"ToPEKA, KAs., May 2, 1894.
"Hon. S. H. Snidcr, Superintendent Of Insurance,
State Of Kansas, Topeka:
"DEAR sIR-In accordance with your instruc-
tiOns, we have examined the DOCKS, accounts
and vouchers of the Kansas Mutual Lie asso,
citation, Of Topeka, Kas., for the year 1875, anu
we herewith hand you the following accounts
and schedules Of the same duly certihed.
H1-Balance sheet, December 30, 1893.
-Statement OF income and disbursements
for the year 1898. r,o,or,
ber 80, 1893.
@4wSummary Of mortuary funds.
"5-SummAry Of reserve funds.
"6-Schedule Of accounts payable
wT-Schedule of accounts receivable.
G8-Summary OF cash on hand.
G9-Memorandum death claims paid.
Memorandum interest on bonds and
mortgages. ,..o.o
Of insurance for 1898.
GAIl of which are self-explanatory.
awe also checked the footings OF the several
cash books from the organization OF the asso-
citation in 1882 to December 30, 1898, and, with
the exception Of an error VI, were found cor
rect. a., .,,
SVo1chers--We found vouchers on file for all
payments made and the same charged TO thelr
proper accounts. .o,,, l..
GDeath Cldims-Their mode Of filing papers In
this connection Is highly cOmmendaOle, and
in examining the papers In each case we find
that payments are made promptly.
ave have carefully scrutinized their meth
DDS Of doing business during our examination,
and, in our opinion, they are correct and bust
ness like.
"Under their system Of bookkeeping the de-
tails Of their business are readily to be ascer-
tanned and verified.
ave fiId their checks and counterchecks
commendable and likely to insure the utmost
accuracy.