The Columbus weekly dispatch., 1908-05-28

A
above all computed and contingent la
DIlLleS s9Is-s41e
Total S23 $50. .S2o.9S
rates with the expectation that they would be held
their maturites-sOne of them being due for
years The price Of bonds IS determined by the interest
which be secured If they bear rate higher than the
securities of this character they wiz se
than the current rate the market value win be less than
par. In determining the which any security OF this
kind will pay the assumption is made that the bond VII
be paid at its maturity at par, and that the interest win 1
adjusted each year In order that the true rate which the
investment yields shan be known, the bonds OF TINS Com
pany during the past have been placed TINS
basis and the book value indicates the upon which
the oflgiaal fale was assumed II tieIeIofe e ooS
gOod-and there is to suppose that they
not wen nfkeI Vue IIoIh tIne 70 le eSs
not enter INTO the delalls OF tne company business II
providing for liabilities and allong surplus to policy
polcyhoIdefs ther Dook values IN order however 70
recognize the fact that this statement Is made Of the
placed in the liabilities sufficient reduce them that
valuation at the close Of last year By this treatment the
Inancla stfength OF lhe company + IlHy stated 1l e
invested assets not affected IN the statement Of
Of stocks and bonds over book values of S12095I4 This
year the include item of $254 4S0140
those securities, difference in year Of S37499654
This not loss to the poIicyhoders present prosp
closed considerable recovery has taken place.
LOANS ON POLICIES.
policyholders increased during the year
10y somewhat larger sum than IN any previous year
there having been added to this item S521 1SlS59 During
of 1907 many pocyhoders found It to their advantage
either for the purpose of paying their premiums 20
needed accommodation, to come to the Company Tor
loans. These advances made with the utmost
prompness, the Company being prepared TO meet all us
that with change for the better In conditions, pol
icyholders will relieve their nsurances OF these enc
brances by paying them especially they have had
example Of the value OF life Insurance policies I'D times 81
financial pressure
The cash in bank, al at interest is somewhat larger
than the amount usually held because the largest receipts
the year its close. investments representing
considerable part of this approved and await
ing settlement at the close of the year.
The interest due and accrued is abundanty secured.
and the net deferred and outstanding premiums stand
against liabilities included in policy
The increase IN the assets Of the Company during the
year 81 1852 95733 If the amount OF depreciation
be deducted increase would be shown or SlI0Sl55s5
r. LIABILITIES AND RESERVES.
In calculating the reserve of the total outstanding m
surance S41 500 600 valued at per cent 4O0OV9
at 31 per cent and S56000000 at per cent The actual
interest receipts for the year the reserve amounted %
per cent and while there no present indication OF
decrease in this rate it must be remembered that many
of the life insurance policies which being issued at
viii still be in force fifty years hence anu thar
the provided for IN the must be that wc
can surely obtained in the distant future and tr pos
sible changes IN financial conditions must be provided 1o
in advance These reserves therefore clearly based
upon an interest assumption which is far below the
actual experience afford absolute strength, and
reasonable expectation of surplus interest earnings % o
annually allotted to policyhoders These liabilities are