The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-03-01

,sS. s9s, SOC. Sc
Dtsbursed-
For claims by death
and matured en-
dowments 49,. .....A, SOS. 0fS.2s
Surplus returned to
policy holders ..... 1.214, 5S.e2
Lapsed and surren-
dered policies 7ss,
Total paid policy.
Commissions 10 ag'ts,
salaries, medical
examiners fees.
printing. advertis-
Ing, legal, real es-
tate and all other
expenses of man
agement k8,1l5.N
Taxes ..---.....s. SSn,9N B
Total expenditures .......... 7.715 l3fT IS
Bal net assets. jan I. 1897. $50. 9si, ST. 81
Add interest due and accrued.
market values OF stocks and
bonds over cost. and net de-
ferred and uncoilected premi-
ums as per fteuized state
ment herewith ................. 1.s10 s7I.s7
Gross assets. Jan. !. 1897 >. $50 e52 s4s IS
Total liabilities ................. s.. 30 05f 81
Surplus. January /. 1897 -. 8. is. 2s7. a
Interest.
We received for interest and dividends.
s. ss4 a5s 81: for rents, s254. 4sel- This dull
ness Of the times made collections un-
usually slow. Yet the overdue interest
on December 81, 1896. on nearly SCI. 900 900
Of mortgage loans was only $50 s6s.7 II.
about $4,000 OF which has since been re-
ceived.
No new defaults have occurred on our
bonds. the only case now In default being
that OF the 500 90 of bonds OF the De-
troIt. Lansing & Northern railroad now
in process OF reorganization.
Real Estate Loans.
The amount OF Cd loans paid of ard OF
new loans made was much smaller than
usual: a natural result Of the conditions
which made II hard 10 get money 10 pay
with. and also made less use for Dor
rowed money. Old loans were paid
amounting to s., $50 10 80. and new loans
were made for ss.21e .Z7s.s7.
Foreclosure. and sales.
Other results OF the hard times were
the prolonged inability OF many 10 Pay
interest. compelling as 10 take under fore
closures properties costing lbs o1s q
and also a great deafness in the real es-
tate. market ~ reason OF ~nieh com para
10 si18 325.23 There were a good many
inquiries after property. but most Or them
were made IN the hope that the pressure
% the times might dispose ne 20 o0er Al
low prices We are fortunately able 10
hold our property until usual conditions
restore usual prices.
Ths advantage OF being able 20 Dc this
is NelI Illustrated IN our o~n history.
Since 1873 the company has sold proper
ties which IL had then acquired under
foreclosure at cost OF 1881, sIs-59. In
an sIamins -son made THAI year The In
surance Commissioner valued these prop
critics e. only &s.&45.I7s an apparent loss
% g. 1ss So 30 But ~ did nor sell az
those figures We waited and SO as
the market wanted Il. for ss.SZ2. SS.si, or
e. 81, eqs, q more than me property cost,
and g. al. 50 q mare than the Commits
s5oner's valuation.
White some Of our properties viii not
pre- ha53y sell for as much they cost
Others WI sell for more. and, judging
from past experience. Ne sea no reason 20
Appre bend any loss OF this Item a. B
whole.
Bond transactions and Holdings
There we're pasd OF or sod during the
year MUNICIPAL ard railroad bonds which
cost rs ssA a. % and other bonds pur-
chased a. q cost OF xsss. sl8 ~ The mar
keL values % such securities &c genera
wes eonal deyso ay less on Dss.efss0er g.
1szss thz2 On December 81, 80. ne
saFfnkage on car holdings vas. n3wsNer,
only szo-thirss % ] per CEN. These
hos1snes are for So - 80 par value, cost
sng E3. ss9@s-ss. and wer;h a. TIE aooSs