The Portland daily press., 1895-12-06
Total.
Balance in bank,

Total. 1913, $50. AZ
Balance in bank, 1920. 81
$780, 371. 03
The above figures were taken from both
cash book and ledger, but could not be
fully verified as actual expenditures
owing TO a lack of system as to detail
and complete vouchers
The company has on deposit with the
treasu of the commonwealth STA, 1856,
on account of its emergency fund.
deficiency of nearly $40, 900 from the
amount required by statute; this deficit,
we are assured by the officers, will at
once be made good.
The financial statement of the company
shows the following:
ASSETS.
Stocks and bonds, $157, 49, II
Cash in Office, IL, 819 40
Cash in banks, SO, 794. 81
Cash in state treasury Gnterest) 1886. 90
Total 1928, 35S. 43
Deduct items in cash not
allowed, 1859. SO
Total, 1921, 675 81
ACCRUED LIABILITIES.
Cldl11lS f6SlSt0u, SOS, UUU. w
Claims under special inyestiga-
tion, $4,000. 90
Total, $S1, 900. 90
CONTINGENT LIABILITIES.
Claims i'll process of adjustment, 1854, $50. 90
Claims awaiting proofs, 46, 750 90
$211, 600. 90
CONTINGENT ASSETS.
Amount of one bimonthly call,
about $3.50, 600. 90
1t is of course fair to consider the two
first named items as not absolute liability
against the company.
OF the assest of the company about
500, 600 only is available for the payment
of claims, the balance being required un-
der the statute as an emergency fund.
According TO it's sworn report January
l. the company had contingent liabilities
Of all kinds to the amount of $274, AS. 90
and assets of $263, 672. IL, an apparent
deficit, not estimating the red uction sure
to be made on considerable portion of
these claims of $40, 742. IS.
The company has since paid on
mortuary account $43, 1884. Of above re-
cvipts, but there remains deficiency sbe-
tween assets and contingent mortuary
liabilities of ali kinds OF $40, S21.97.
q 1t should besstated chat while the in
come of the company from assessments
for mortuary purposes during the year
1894 was $3.50, $40 81, the income from the
same source for the present year to
October f5 was 4541, 745.07, and this in
cludes only about one-thjrd of d year
under the increased rates.
The claims incurred during 1894 were
1922, 500 90. The claims incurred the
present year to October 10 were $657, =
$50. 90. -
The comm issioners have carefully
counted and verified the assets of the
company and made a close investigation
into the claims which are included in
liabilities
The amount of the bimonthly calls has
recently been increased, but, as Indicated
by the figures, not to sufficient extent
to meet the current liabilities of the COM
pany and the accumulated losses.
The only basis of stability to insurance
OF this class, is the payment as provided
by the statute from time to time OfxTa
sufficient amount to meet the current
N OBITUARY demands. 1t is for the interest
Of every certificate holder that the already
accrued liabilities should be promptly
met and q sufficient sum paid upon each
call to meet with promptness every
adjudicated claim.
In order that the already deficiency in
the mortuary account may be supplied
and the hereafter liability of the company
be promptly met, the commissioners urge
uDon the officers of the company the
is 7uance immediately OF an extra call
The report is singed by George S.
Merrill, insurance commissioner, Massa-
ohusetts; S. W. Carr, insurance com.
missioner, Maine; G ". Brownel in
suranoe commissioner, Vermont; Albert
G. Landers, insurance commissioner,
I a
ance commissioner, Connecticut; W. n.
Hahn sunerinteEdent Of INSURANCE, Ohio.