New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-02-16
LOANS Oh REAL ESTATE

II IL not 70 supposed II oOo loans asrress'-
INK over ss could through times % pro'racied
and severe financial srngency AMI depression without
some defaults the necessity Of enforcing
our securit.- such During the year We have
taken in foreclosure property costing decree
1857 Coz a. and properties costing $500 @3l 49,
leaving net u real estate held cost u
so37 o72 A. OF these {is O5C % tn"
Of properties which entirely cios'd out at SOB So "
gain over cost Of s7.4093 The remainder represented
sales 81 parts ~ propeft"'
While we always regret the necessity u realizing our
sc,v and do not wish 10 property longer than
Is necessary in sel to your best advantage We
are governed by the fact that these are not me times -
press real estate at sacrifice which "" 10
not make. We a.. strong hoin''s ana ca" WI
await a normal market
bit 81 history VIII illustrate In the disastrous decade
ls7o-sO took In properties costing " ana
valued bv the Insurance Commissioner AT ohN Si-
:22 5000 out Of which properties costing H3l""i"o-
and valued a, only Sc 24 COZ % have been sold for Ss
nle a gain over cost 0, 81 ios 2O5 81 and 81 '2s 81
over the Commissioners valuation Ana th'se properties
came from made upon valuations representing 'e
great imitation prevailing during anu "' ''
civil war and suffering corresponding srnhsse az 'he
,n,,, .nnroacbed sound basis. That element % DIS
urbauce and danger fortunately absent from Inc pres
ent situation 49, 49,,
We can therefore contemplate such FORECLOSURES ~ hhF
been and are likely he made during tins dep'e"s"h
,.,, se,io,s an,eiy white the higher rate Of Interest
realized from real estate makes them especially de-
sirable for earning dividends
BONDS.
20 nurcb.se. ~ Importance have been made durins me
wear Bonds have been paid of TO the amount NJ cost
OF sra Oas 30 hold bonds OF me par '"'u' "
Sl 800 costing si2 25G $50 % and worm Jun l. ~
~ 700 O47 by most conservative use VI " ' 60,
lions An inspection list will disclose Inc" my"
character. We have been at good deal o' pains ~ ."
our holdings into bonds having a long time 10 'u''
Insurance. Operations
MORTALITY.
nh ,oau ,osses IN 1894 were somewhat higher IN
s,,ouu, and ratio those In the previous year. '
NOR. s,u Ga far within the amount anticipated 10y on"
,,opiuus and reserves as 10 give ~ net SAVING VI
about s3s5oOo
REVEALS.
rood feature OF the years business was the me re-
y,val OF a considerable number OF policies "n'o" '
in the pressure Of the penic Of 1893 IL - Tar w"
way In which persons who still need 'hsu'"" ~ a.,
s,in insurabie risks resume carrying policies o"
agents are instructed give particular attention u S
DIVIDENDS.
The dividends paid policy holders In 1874 were s'
than those paid I'm 1893 Of their Insurance was
therefore less like increase viii be maze III INV NV"
dends o policies renewing In 1879
SURPLUS.
Notwithstanding the large dividends paid in 1894 the
surplus held S644sO27s7 January J. Ie'f
TO So s762i2 rs January s0j gain OF s+2s is''i "u
t262 GlssO II this due the incrense In the m''
Of bonds Of the previous year
leaving gain surplus Of &iG65ee II from the actual
operations Of the year
Out OF this surplus must ultimately come the difference
the par and market values 81 bonds II they
held maturity. For tn. II protects the assets
and the business against unforeseen loss and disaster ana
aids materially in earning current dividends and keeping