Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-01-27
Substantial Results Achieved During 1896
"A Splendid Record Of Gains in As
sets, Surplus and Other Import
ant Particulars Maine Bust
ness Much Increased.

The Forty-seventh Annual Report OF
Insurance Company to the Policy
holders is herewith submitted
During the year 1896, the progress OF
the Company in the growth of Assets is
shown by an increase to $7,039,32 1913, a
gain of $241,9
The Company's investment in Unitc6
States Government bonds has been in
creased $40, 741.94, ard at the present
time this investment amounts to 1924, :
5i1.94
The Company has also invested in
the bonds CT the Commonwealth of
Massa chusetts $S9,0625G, and it's invest
! ment in State, County and City bonds
has increased from $780,, 667 SO to ST.
452 1891
Since January l.. 1896. the Companys
holdings of Railroad bonds have de-
| creased S102. 1856, and the amount nov
held is $3.50. 524.33.
have increased from 81. 1894 sos. SS to 81
iS1, 1856; and the. Collateral Loans for
the same period have increased from
1858, 557 90 to s751 .9199S.
The character of the investments of
the Company will perhaps be best UNI
derstood by a statement of the fact
SINGLE BOND OWNED BY 1T WAS
IN DEFAULT OF INTEREST: AND
LESS THAN $500 INTEREST UPON
IT'S LARGE MORTGAGE LOAN WAS
OVERDUE AT THAT TIME
The Surplus above all Liabilities has
increased s72.29l.6i. and now stands
s507, S4S19
The Premium Income for the year
was 81, 107,119.45, an increase of $751;
Interest Receipts, Rents and all other
items. was sl.42l, 1870. gain of s9l.
676.S0 as compared with the previous
year.
During the year there have been
written 32S5 Policies representing 81
1893, 125 of Insurance, showing an in
crease of 246 Policies and decrease Ct
s26S 63S Of Insurance as compared with
the issues of 1895
The total number of Policies ana
amount of Insurance in Force on TIE
books of the Company have increased
from 20,9l6 Policies of $366S2, 141.0S on
December 81, 1895. to 22.439 Policies of
$3S. 0S6. Sl9.01. q gain of 1,523 Policies Of
N.404 1898 Of Insurance.
In 1895 there We're written on the lives
Of residents of Maine SOS Policies CT
81, 1874, 1894 of Insurance, which comprised
a very large increase over the number
Of Policies and amount of Insurance
written in Maine in any previous year
For 1896 the record is 1900 Policies Ct
s., 424. 763 gain over 1895 of 4O2 Policies
CT s259769 of Insurance, making 1896 the
banner year for the Company in our
Home State.
The payments to policy holders dur
ing 1896 amounted to $139, 526.69, MAX
ing the total payments to Policy-hold-
ers from date of organization Of the
Company to December 81, 1896, s29,326,-
7273S.
The Maine Non-Forfeiture Law pre-
tects all Policy holders of this Com
pany, your Directors having by their
action made its provisions applicable
to Policies issued prior to its enact
ment. Under its terms there have
been paid 31S Policies covering $672,-
70s.S5 of Insurance. In 1896 there were
paid 81 claims amounting to $33, 500 Of
Insurance. the period of time interven-
ing between lapse of Policy and death
of Insured varying from a minimum Of
three months to a 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 estab-
lished custom Of the Company, all No
tees of Death received during the
year hav& been treated as a liability.
The Notices received in 1896 covered
S41S.436 of Insurance. which is not only
q decrease OF $SO,533 as compared with
the figures of the previous year, but
is the smallest amount recorded since
1889, and with the exception of that