The sun., 1898-10-25
LIGHT TURNED ON.
The Covenant Mutual Life Insurance
Company is One Of the Rest in
the World.

Company ts One or The Hest IN
the World.
Seldom, If ever, has life insurance
had the search-light OF so
strong an official examination turned
into its innermost closets as has the
Covenant Mutual Life Association, of
Galesburg, III. For two months, lack
ing three days, the combined examining
forces of the Insurance Departments of
Ohio, Iowa, Michigan, Missouri, Minne-
sofa. Wisconsin and Illinois have had
possession OF its books and scords, and
now at last comes the report OF the final
finding bearing the signatures of the
Commissioners and Superintendent Of
the Insurance Departments OF the States
participating accompanied by supple
mental report of Actuary, Augustus Har.
vey's examination into the mortality ex-
perience OF the company from its very
beginning in January II, embracing the
under the obsolete "post-
lnortem" plan, and including the busi-
nees OF the past eight years that has been
written on the modern basis.
Without a discordant note; without
feature to mar the unanimity OF the &C.
ton, the seven officials unite in q report
of their investigation that is simply
splendid endorsement OF the Cove
Covenants present standing, an as
surance Of the trend Of it's future
progress, a glowing tribute to the ability
and courage Of its present management,
as we'll as concise and explicit explana-
of the inst and proper status OF the
holders of it's policies issued years ago
and under the old ''post mortem" plan
generally in vogue in those days.
Aside from the very gratifying reading
this document must be to each and every
policy. no der in the Covenant Mutual
Life, as well as to all friends Of the sys-
TEN OF insurance, OF which this company
is conspicuous example, we cannot help
thinking what first-class boom-shell it
is in the camps OF those who, before the
examination began and particularly dur.
ing it's progress, industriously sought td
discredit the standing Of the company,
the motives of it's officers and to spread
general unrest.
We have looked in vain for manly
acknowledgment Of error among them.
A few, it is true, with evident reluctance,
have said "The association is declared
solvent" or 'The report of the recent
examination Of the Covenant Mutual is
favorable to the association" bat thus
far not one OF it's traducers has
quoted from the report the following
sentence:
"We are impelled to believe that the
management Of the Company has been,
and is, honest, conscientious, and with .
desire to conserve the best interests o
all the members.
/ "We find, as the result of this exami
nation, brought down to May 10, 1898
and covering the existence vi the Com
pany from the year 1877, that the Asso
ciation is solvent under the law, its as
sets we'll invested and carefully managed
with surplus over all liabilities of $685..
/ I94.2l, whereas the requirements under
the laws of Illinois for an emergency OF
reserve funl would be $25S, S,3l844, the
actual emergency or reserve fund il
$536, ,99l .O9.".
The examination was begun on May
8, and was completed July 6. The re-
port il signed by Superintendent Var
Cleave, oiIllinois; Commissioner Frcke
of Wisconsin; Commissioner Dearth, O
Minnesota; Superintendent Olvar. o
Missouri; Commissioner Campbell, 0
Michigan; Auditor of State Mccarthy 70
Iowa, and Superintendent Matthews, Q
Ohio. We make the following ex
cerpts:
';The statement of business for the fou
months and ten days of this year show
the Association to be sound financial,
and the thorough checking-up of all re
ceipts and disbursements with the origi
nal vouchers, and through all of TIT
books and accounts, vouchers being f'un,
for the smallest item expended from
March 81, 1895, satisfies us that the As
sociation is honestly and carefully man
aged, the system OF bookkeeping c IN
pIete and in charge of competent EN-
ployees.
"Investments are of an excellent char
acter and carefully looked after.
Losses are promptly paid within
ninety days from date OF proofs of loss
except such cases as are resisted for cause
The amount OF resisted losses is small il
comparison with the total incurred.
"Salaries are reasonable in all in
stances, and reasonable economy is prac
ticed in expenditures.
"We desire to say that, after mos
rigid scrutiny into the affairs and meth
DDS OF this Association, we take pleasure
in say ing that in our opinion, the officer
and employees have in all cases acted con
scientiously, honestly and according tt
their best judgment in conducting thu
affairs of the Association.
"The past success of the Company, tht
prornptness with which it has met it,
obligations, and the earnest desire e howr
to protect it's policy-holders in the future
should commend it to the confidence o
the public. The Association has already
gone Through the sweat Of the post
mor;em business, and the past should bt
let bury the past. There is no reason
that we can zee why success should no
follow it's effort in the future.
"The insured have largely contributed
in building up magnificent Association
"The Fraternity Hall Association
transferred the title to the real estate
now used as a Home Office Building tt
this Association for the sum Of $50, 600
We have had sworn appraiselnen
made, and the property was valued a
zoe dOO