The Barre daily times. (Barre, Vt.) 1897-1959, 1910-01-24
.SIXTIETH REPORT
OF NATIONAL LIFE
President DeBoer Tells Policyholders Of
the Progress Made During the
Past Year.

company had a gross income Of ss4ls,
$3.50, an issue Of new insurance On 9
paid-ior basis, Of slos6l,77s00, and Al
the close Of tho year the gross asset.
equalled Si7 400, .aS and paid.for out,
standing insurance sl59,ls7 ,s77Oo.
Consistent Gains.
The experience Of the past year dem.
onstrates eonclusively the high character
Of the company's field and medical sery-
ice, It's care IN the selection OF invest.
ments and the semitic accuracy Of It's
actuarial assumptions. The result.
achieved BY reason Of these facts are
indicated by the consistent gains made
by the company III every important de.
partment Of Is work As compared with
the year preceding, the gains we're a.
follows In insurance premiums and an.
nuity considerations, s370e52l0; 10 in
terest and rents, slS7 1929; in total
income. s5l6. o04.Ss in Insurance, 5000,
03ii in gross assets, Ss464 ,920a5; and
in surplus, including deferred surplus
credits, s549qi3i6. The gains not only
confirm and maintain the company's
growth, but also increase ia stability,
make possible the payment Of larger div.
idends during 1910 and thus insure the
continued reductions in the net costs
Of protection which the company has
been making for several years.
Conservative Growth.
Il is with special satisfaction that we
review the eompany's progress during the
past ten years because it is an evidence
Of the steady and growing favor with
which the public has made use Of IFS
service and because II attests the value
Of that service during a period Of unusual
legislation, competition and change Dur
ing the decade now closed, the company's
income increased from s4,3lS,3l5 to S..
4ls275; its gross assets from sl773s,s6l
70 s47 4aoo9s its gross surplus from 81
81 222 70 SIS ,s29 SOS and It's outstanding
insurance from sa,sa002gto 5els7s77.
ancc from $50 SCOOPS t. SI5als7s77.
we report these gains not only AZ a
proof Of growth but more particularly
as the most substantial evidence Of the
care with which the old business Of the
company has been conserved These fg
ures are the more significant when taken
in connection with the Increasing pay
ments to poiieyholders both a. an
amount and a q rate per cent.
Solid Assets.
In anticipation d tile principles 81 iii.
vestment which would hnally receive
statutory sanction, tbs company many
years ago directed is attention 70 those
securities which would safely discharge
the requirements Of is contracts and at
the same time comply with law The as
sets reported not only achieve both these
results but, so far as We are aware, also
comply with the most exacting laws re-
Iateing To investments in every state and
throughout the nations Of ire world.
These assets, s81 .4a0 COS as in All, include
The following items: Government state,
county and municipal bonds. slI565.
f254si mortgages. in every case first
lens, slg,025 ,3i47e; loans to policyhold-
srs on the collateral Of their contracts,
premium notes s7406I9ll7 n
real estate, including Office properties,
1884, 50o00i interest due and accrued.
deferred and unreported premiums
agents balance, sl8lS72slQ and cash
i 1855 58oSs The due interest item
relates almost entirely to policy loans
md is self protected The accrued in.
crest item possesses the substance Of
he principal, while the item Of deferred
ind uncolleeted premium Is reported on
net basis, deductions having been made
d advance for the costs Of their coIlec
ion ana Tor taxes, while the entire
mount il itself offset BIZ 4 charge for
anne ID reserve liability account.
Assets Analysed
During 1000, the company increased its
holdings Of municipal bonds in the sum
# sl,l459T9.24; its mortgage account
3, 20S 6e29l, it, policy loans and notes
1850 449 SO, while Die real estate account
vas reduced By ss0.0o000 and the cash
tenn BY S279,l75.8l. Tho gross assets.
distributed On percentage basis, stand
q follows Agents balance, 0o4 PER
emit real estate. 787 per cent; net lin
objected and deferred premiums, .3g PEI
emit; cash I.so per cent policy loan.
nd notes, 1872 per cent. bonds, 5000
er cents mortgages. 4l.s2 per cent
The item Of accrued interest is per
emit, while that Of due interest Is 50
light as not to represent an appreoiable I
uantity there being one dollar and nine /
ants out q every thousand dollars Atl
be close of 1909 there was not dollar
npaid On account d due principal 81
interest upon the bonds and only s5.
2L6o due interest unpaid upon 1853
Mortgages representing si0,825.3lf76 oil
ace value Is return Of bonds is at
iarket value, namely sl7 ,565, 7254s. orl
81 $500 above par The company owns
IS city mortgages amounting 70 S2
5S32S43. its mersgages Ga farm prop 4
rty equal 1925 ii number Amounting
3 an investment 81 sl6Is7 ls683 The
u ..t.,,sl ....s.4 .1,4as - I