The Portland daily press., 1897-01-27

The Forty seventh Annual Report of
the Directors OF the Union Mutual Life
Insurance Company to the Policy-hold :
ers is herewith submitted.
During the year 1895, the progress OF
the Company in the growth of Assets IL
shown by an increase to s7,o39, 1913, a
gain of s241, 932.
The Company's investment in United
States Government bonds has been In
creased $170, 741.9A, and at the present
time this Investment amounts to 1884,
| SAL "a
The Company has also invested in the
bonds of the Commonwealth of Massa-
chusetts $50, O62. so, and it's investment
| in State, County and City bonds has in
creased from 81, s97, 667. SO to 81, 49, 47e. 81.
Since January !, 1895, the Company's
holdings Of Railroad bonds have de-
creased SI02, ZIG. 40, and the amount now
held is 1888, 524.8 3.
During the year the Mortgage Loans
have increased from 81, 894, sos. SO to ST.
4s1, 695. 60; and the Collateral Loans for
the same period have increased from
1868, 557. 96 to $751;, 9l9.98.
The character of the investments of
the Company will perhaps be best I'M
dsrstood by statement Of the fact that
at the close of the year NOT A SINGLE
BOND OWNED BY IT WAS IN DE.
FAULT OF INTEREST, AND LESS
THAN $500 INTEREST," UPON ITS
OVERDUE AT THAT TIME.
The Surplus above all Liabilities has
increased $72, 934.64, and now stands
| s507, 348.19.
The Premium Income for the year was
81, 107, 779.45, an increase of $67, 53S. SO, and
the total revenue, including Interest Re-
ceipts, Rents and all other items, was
81, 421, 1856 70, gain of SOL, GIG. 80 as COM
pared with the previous year.
During the year there have been writ
ten 1856 Policies representing 81, 793, 1876
of Insurance, showing An increase of 246
Policies and decrease of $26s, esS of In
surance as compared with the issues Of
| 1896.
| The total number of Policies and
amount CT Insurance in Force on the
books of the Company have increased
from O,e16 Policies of $36, $50, 141.os on
December 81, 1895, to az, 4s9 Policies of
| $685. 0S6, s49.0 gain of 1888 Policies Of
| 81, 404, 707. 90 of Insurance.
| In 1895 there were written on the lives
of residents of Maine a98 Policies of
81, 81, 994 of Insurance, which comprised
very large increase over the number
of Policies and amount of Insurance writ
ten in Maine in any previous year. For
1895 the record is /, 300 Policies of 81, 424,
7e3,a gain over 1896 of 400 Policies Ct
s259, 769 Of Insurance, making 1895 the
banner year for the Company in our
Home State.
The payments to Policy holders during
1896 amounted to s789, 500. SO, making
the total payments to Policy holders
from date of organization of the COM
pany to December 81, 1885, gao, 1876, 1871 88.
The Maine Non-Fnrfeiture Law pro-
tects all Policy holders Of this Company,
your Directors having by their action
made it's provisions applicable to Policies
Issued prior to its enactment. Under
it's terms there have been paid 318 Poll
cies covering se72, 7OS.s5 of Insurance.
In 1895 there were paid 81 claims
| amounting to $33, 500 of Insurance, the
eriod of time intervening between lapse
of Policy and death of Insured varying
from minimum of three III on tbs to
maximum of eleven years and six
months, most convincing evidence OF the
valuable provisions Of this law, which
apply only to Policies issued by this
Company.
In accordance with the long established
custom of the Company, all Notices Of
Death received during the year have
been treated as a liability. The Notices
received in 1896 covered s41s, 43s of Insur-
ance, which is not only decrease of
$50, 5a3 rs compared with the figures Of
the previous year, but is the smallest
amount recorded since 1889, and with the
exception of that ear, the smallest for q
period of ten years.
During the past year the public mind
has been absorbed to AL unpreceden ted de-
gree ny poIltlCuI ISSUES, anu p0HuluB
their decision the people generally have
manifested determination not to ex-
tend liabilities or create new obligations.
Recognizing this general feeling, your
Directors. early in the year, decided that
the best interests Of the Company would
not be subserved by resorting to such I'M
usual methods as would be necessary in
order to increase the writing of New In
surance.
In accordance with this conclusion,
the Managers of the Company's Agencies
were advised to make no unusual effort
to write Insurance, but to look closely after
the collection of premiums. We believe
| this Policy has teen beneficial In it's re-
suits, RS the collections have been highly
| satisfactory and the quality of the New
Insurance written has been of the very
best.
Tho present Officers of the
Company assumed control OF