The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-18
Surplus, Jan. ], 1895. ....... 6,S
INTEREST.


INTEREST.
We received for interest and dividends
81, $3.50; for rents, $26S, 4424S On real
estate loans of $37, 4S4.S4S.1S the overdue
interest at the end OF the year was $685.
9i7.53, or 26-100 of 1 per cent. Nearly all
Of this small percentage is on loans on city
property. On farm loans of $12 266 527. 04 in
09710 overdue interest. Our experience has
steadily. shown that the ability of good
to pay interest promptly on a proper, that
Is. relatively small. loan. is less affected
property Of good Character and of the av very
age variety; and yet we loan only in cities
which are the great centers of commerce
All our loans are very conservatively ais
tributed and placed
On bonds costing $12 256 S9O25 there were
two items of overdue interest, amounting to
400 One of these is on bonds OF the city
Of Austin Texas, and the other First
Northern railroad. In neither case do we
apprehend a loss
LOANS ON REAL ESTATE.
We loaned on real estate during the year
Sc, ,0G!.S4; loans were paid amounting to
81, O64,654 81.
FORECLOSURES AND SALES OF REAL
ESTATE.
1t is not to be supposed that over II 900
loans aggregating over s37.50O,OoO could go
through times of protracted and severe
fnacial stringency and depression without
some defaults of payment and the neces-
sity OF enforcing our security in such cases.
During the year we have taken in under
$4S, cog, a, and have sold properties cost
ing $3.50, So; 80, leaving a net increase of real
estate held at a cost of $257,272.4l. OF these
sales $1S6,056.64 represented the cost of
properties which were entirely closed out
at $2O3, 1886. a gain over cost of SIT, 400. 81
The remainder represented sales of parts of
properties.
While we always regret the necessity or
dn CHI,
to hold property any longer than is neces-
sary in order to sell it to your best advan-
are not the times to press real estate to
sale, except at a sacrifice which we do not
need to make We strong holders and
can well await a normal market.
A bit of history will illustrate. In the
critics costing s1s. 4S2 1863. 10 and valued by
sl1s2s. 5ss:os; out of which, properties cost is
ing $,313, 010.62 and valued at only Sc pa
O07.94 have been sold for $S,721, 2163i a gain
over cost of s., 4Os, 2Q56 So, and $2,4s7, 20s.37
these properties came from loans made
upon valuations representing the great cur
rency imitation prevailing during and after
shrinkage as the country approached a
sound basis. That element of disturbance
and da->A &c fortunately absent from the
present zSlation.
We can therefore contemplate such fore
made during this depression without serious
anxiety, while the higher rate of interest
T6GIZ6u ITOlil real estate loans makes them
especially desirable for earning dividends
BONDS.
No purchases OF. Importance have been
made during the. year. Bonds have been
paid off to the amount, at cost, of s173,-
03S.3o. We now hold bonds of the par value
of $l1,SSS, 800. costing S12 256 b. and worth
Jan. /, 1895. $12, 700,047 by a most conserva-
tive of market quotations. An inspec-
ton of the list will disclose their high
character We have been at a good deal of
pains to get our holdings into bonds having
a long time to
Insurance Operations.
MORTALITY.
The death losses in 1884 were somewhat
higher in amount and ratio than those in
the previous year, but were still SO far
within the amount anticipated by our pre-
miums and reserves TO give us a net saw
ing of about S3S5, eco.
REVEALS
A good feature of the years business was
the revival of considerable number Of
policies which lapsed in the pressure of the
panic of 1898. 1t is far the cheapest way
in which persons who still need insurance
and still insurable RISKS can resume
carrying policies Our agents are instructed
TO give particular attention to such cases.
DIVIDENDS.
The dividsnds paid to policy holders in
LA were larger than those paid In 1S93.