New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-02-25
THE FIFTIETH ANNUAL REPORT

L. r. ~
INSURANCE COMPANY.
To the Nrm5r,y:
Fifty years ago few men living In Hartford
became interested in the then novel scheme o,
life insurance They had no knowledge OF us
science, but were attracted by its promised re-
subtitle protection OF the family against the
,onev loss incurred through the death OF It's
bread-winner A New England community. with
it's steady ways It's sobriety Of temper ana hap''
It's many homes sheltering industrious, frugal
thrifty households its pervadng sentiment Vi
family affection, and its strong sense OF uu'y'
seemed to them a proper field for the proposed
beneficence Not desiring to make money out
Of IT, but simply to give this protection at IT'S
actual cost to all needing It, they determine ~
make a mutual company. And 50 the Cohlecti-
cut Mutual Life Insurance Company was p ,'
being chartered at the May session OF the Zen
eral Assembly in 1876, and soon thereafter or
ganized for business by securing k uei
capital soon after retired. and 800 applchtlohs
for policies, of which nineteen are sun III iolcs'
Fortunately for the company and Tor the ueIsi-
opment of life insurance in this country, IN the
absence Of an American experience resort ""S
had to the then fundamental asnu'p bad Seen
proven safe by the English practice. Inc piu-
dent thrift characteristic OF New-Ehsianu ot ~
ness operations Of every DEGREE was iioiiI a,'o
outset q marked feature Of the company s mall-
arement Another occasion will be chosen to
set forth some OF the more interesting uelaI'S "a
the company's history. It's Carelu Pios %
conservative changes in the bases OF It's caicui
tinns and its more scientific and equitable ad-
iustments in the matters OF returns OF sufPiu7
and the application OF reserves Oh NipSi"s p0''
For the purpose Of this report 1t is suflicienl 10
call your attention the following strlKihs group
VI From It's organization to Jan. l, 1896. the COM
pany received:
For premiums. .sis5 s;s S sSs 20
For $50 sssS c4ssS
II has paid 2Gs $40 death claims ooo
for "...................... Ss5@SlsaS2
6 $50 .niowmcnts fol. l$ ic6 500 ic
Surrendered po!ces....... ~ 81 90
For dividends. ............... %d92l
,o iSa, or GeiS acr sen TO R2licy
entire premiums received. .Sll5al2 49,
II has paid for cNpenses..' 49, ..""'""o,
Taxes Observation-Disclosures ''''o'--
Total expenditures .S-oe4' oo'
Raance net assets Jan l. Isa6....... 60 ~ o2o "a
1t has additional assets 'see statement ''o 80"
ro,a, s62 100 80 %
That &c the amounts returned to policy mold
c~s and their benenciaries Gl759l2ls'lo ana
the balance Of income after all expenditures
(seo 764 O2CsD aggregatng $2So.0'o2oo no, ni
196 60 ner cent OF the entire amount received
from rollcv holders. adding the further hu LIE
of assets as above tn percentage - lid ne
has been done at an expense OF mailasene", -.
6 "A per cent of the income. Both III WHat Iia9
80, done for the policy holders and In the
economy of management-that Is IN the low
cost of the protection given-these reSu''s arc
eQualled by no American company
Operations I'm 1895.
1So5 rae ono of prosperity. A faN
gain in new business and in the amount AT FISK.
With no increase in expense; favorable NOR
talitv with q considerable saving therefrom;
substantial gain in surplus notwithstanding ai'
increased dividend. and general maintenance
Of healthy conditions are the Chiei i'"'"'S VI
the years experience. ,.
We greatly regret that the new requirements
OF the several State Insurance departments III
terfere with our long-contnued practice OF com
pletely closing years business before report
ing It, and compel us 10 close our DOORS "liic
MANY items Of business belonging TO the year
u,oro e,m outstanding In consequence we
show an item OF premiums In course or coiiec-
tion-for the first time in many years-a larger
uncollected interest and a slightly larger ratio
| If EXPENSE to income. without an actual in
| crease than would otherwise have been the
| case The full expenses have been incurred
| without our having received the full income TO
| which they are referable. 1t is proper to say
| that we actually closed the years business as
| has been our custom; but We are not permitted
| TO publish the result as hitherto. as the figures
| would not agree with those OF the reports re-
ouired by the several departments.
The Operations of the Year
| as covered by our report to the insurance De-
| partments are as follows:
| Ne, assets Jan. l.. 1895. s6o.546. $50
| Less DEDUCTIONS from cost Home ~
Once Building. .....'.'.'.''.. -''VuVV'
Balance net SEQ 34e sos 30
| Received
| For premiums. .............--.. s46sl. 429 %
| For interest and rents.......... 3osl,lo3N
| balance profit and loss........ II. 2C9.+0
| &c
Sos 1879 "a
| For claims by death and
| matured cndownents ........ 81 3s2 3oo70
Surplus returned 10 policy oo
1A ap.ed and surrendered policies s7s.o5
| Total paid policy holders. s62si.31G.Cs
| Commissions agents salaries
| medical examiners fees; print,
estate and all other expenses
| Of management. .............. II9oI62
| Taxes "it''oo."'
Total expenditures. 73155s2 10
Balance net assets Jan l. 1906 SEQ 7c4 o2o "a
Add interest due and accrued. market values
Of stocks and bonds oyer cost and net de
itemized herewith. 1895 1881
Gross Jan l. se2 100 7cs o5
Surplus JAN. l. 1890. Observation-Disclosures. s70JC 25G "a
! Interest
| We received for interest and dividends
So 500 1907; for rents s22S.325.32. The financial
and business conditions Of the year made the
collection of interest somewhat less ga tisfa Glory
| than usual. The total of overdue interest on
real estate loans-amounting TO $50. 069, 581-Jan.
l. 1896, as by department reports. was
| 1922. 116.u. OF this amount there had been paid
| to Feb. l. $16.1lS.93.
| no