The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-07-15
THE KANSAS MUTUAL.
A Home Company RigidIy Ex-
amined, Makes a Handsome
Showing.

The state insurance department has |
Just completed an examination OF the !
Kansas Mutual Life Insurance COM |
pany. The examination was made by
Senator r. T. Battey of the superinten- |
dent of insurance office, and W. Q. Aus I
tin, acting state expert accountant.
The report shows the company to be |
in frst-elass condition in every way. !
The following is from the letter of Hon. |
w. V. Church in transmitting a copy
of the report of the examiners to
the secretary of the company:
THE examination has been thorough I
and the report must be gratifying not /
only to the members of the company,
but to every citizen of Kansas who IS /
especially interested, as we all are in the
success of every worthy ENTERPRISE
which has it's birth and abiding place
within our state"
The following is from the report of
the examiners:
After thirty-five days of investiga-
ton, we beg leave to make the following
I'VE have made a most thorough ex-
animation of their books the policy
contracts of the several plans, vouchers,
notes, bonds and mortgages, and find
the affairs OF the company as reported
in their annual report of December 31st,
1898. The accounts are kept in a very
systematic and thorough manner. Each
and every item may be traced from its
receipt to the payment of death claim,
dividend or expense as the case may be.
I'VE are of the opinion that the loans
of the company could be sold on the
market at a premium of many thousand
dollars.
That the affairs of the company
| have been managed with great care,
/ skill and honesty, there is no question.
/ We find that premiums on level prem
! ium policies are based on the actuarieS
\ tables and per cent. AS far the
| policy contracts of 1886 are concerned,
! OheSe policies were issued before the
/ company was licensed to do business as
/ an old line life company after a most
| careful examination of the policy, the
! bylaws and the statutes. and after
having consulted attorneys in the mat
1 ter, we say the company have honestly,
carefully and faithfully carried every
part of the contract into force to the
/ equity of each policy holder We desire
/ to add that the premiums on the poll
/ cieS of 1886 are what is known as the
( Natural Premium, that is to say, the
/ insurance IS sold at cost, and as the
/ policy holder advances in age, SO his
| premium must advance in amount. But
! by careful mana cement and a very low
| death rate the funds that accumulated
! in the early history of the company
( have been used to hold the premiums
( level till 1897, when with an increase in
! the death loss the company was obliged
/ to call for the able rate at age attain
] ed This was an imperative duty of the
4 officers for the protection and equity of
! the policy holders. as provided by the
policy, the bylaws and the laws Of the
! state.
In closing we wish to call attention
/ to the splendid financial condition of the
| serve, invested in first-class Kansas Sc
| curities and deposited with the state
| treasurer and has a surplus of more
| than one hundred and forty thousand
dollars. Very respectfully yours,
(Signed) r. T. BATTEY,
w. c. AUSTIN
Especial Examiners
The Kansas Mutual Life Insurance
company has been examined by four
different insurance departments. Each
examination showed the company to be
IN a gilt edged condition. The first ex-
animation was made in April, 1887, by
Hon. Web Wilder, superintendent of
insurance.
The second examination was made in
1894 by Superintendent of Insurance S.
H Snider and D. R. Hite. The eXamin-
alton was very searching and lasted 80
days.
In a letter to the company Superin-
! tendent Snider said that the examina-
! ton shows the highest skill and fidelity
| in every branch of the business"
| The third examination was made I'M
der the direction of superintendent
Webb McNaH last December. A partic-
| ularly careful examination was made
| of the finances to see that the required
surplus and reserve funds were on hand
The company writes all the usual
! forms of insurance issued by other old
| line companies. The policy contracts
| are up to date and the peers of any on
| the market. One of the strong points of
| this company is that before a policy is
mailed to the insured it is registered in
and the reserve liability must be depos-
tied with the state treasurer who by
law holds these funds as trustee for the
policy holder