The Barre daily times. (Barre, Vt.) 1897-1959, 1910-01-24

has attained condition Of surplus earn
ing which was never potentially exceeded
in its long history o. service . the IN
sured
Dividends for 1910.
The surplus item reported in this state
ment has Increased during the past year
from S5,2I002550 to 95s29s6ssG O
$40 pis.lO, q which Ssso0Qeo4 repro,
sants increase ii interest bearing SUR
plus. The total surplus reported actual
ly amounts to s0,592,s7s.S2, including
s762 ,5oo4o sci aside for payment in l0lt
and treated as a liability The balance
$500 s0s.S0, consists Of deferred SUR
plus credits on 1910 accounts, namely
S3,043 ,59s2a. and general or undistrib-
uted surplus Of Slss6,27062 or SO per
cent OF an policy reserves. During zoos
the company paid is members 10 diyi.
bends S2To,s0s.l4; during 1909 $780,.
2islp; and during 1910 ils provision Il
for a payment Of S702 5o946. IN add.
tion to this, IL win increase It's item 81
deferred surplus credits by sls65a429
and its generahsurplus, as compared with
1909, by ss6s,s7s9s, a total Of sl,Sl2,-
452G2. The gain, over actuarial assump-
lions, viii exceed this amount
Thus, at the close Of sixty years Of
successful and progressive work, the COM
pany insnrcs its rank among The leading
life Offices in the United States On All
points Of condition. assets insurance
composition, practice, high dividend re-
turns and low net costs and invites on
merit and service The persistency and
good win Of IFS insured and the patron
age Of those whose membership and
cooperation it affects. The founda tions
for a due and absolute discharge Of its
have been deeply laid, The
aim Of tho company continues TO b., as
always, 70 supply 4 solid, safe and sure
protection and to make its costs as low
as possible consistent with that ex.
pressed purpose and practice and with
the laws Of states
Important Considerations.
1t is possible in this statement to sum
Marie only a few Of the most important
matters which have been dealt with com
prehensively BY the several department
officers "a their annual reports. The cx.
pected mortality for The year was 1894.
807o2, while only sl0o4 5s2o7 was ex.
Derienced, creating a saving from that
source alone Of s0i0.le465 The actual
10 expected mortality IN the life group
was 64O9 per cent. in the endowment
5752 per cent and in the term 5340
per cent. and the rate Of experienced
oss on the total business was CLOS per
sent. This most gratifying experience i
/ strong proof Of the care and skill
with which the business has been dis.
selected and placed The inter
st and rents received amounted TO SO,
l53.Oas.3s. but with allowance for inter.
st due and accrued the gross earnings
we're s2,l64,l406l. against which the
company charges sTo46se5 as the in
ssstment expense This Leaves the sum
Il s2,o03 6T796 net interest earned, Of
which 81 1852 % was needed to main.
min the policy reserves thus leaving
s6l5, 1854 AZ the amount Of surplus IN.
arrest earned During the year The COM
lany also had a profit from insurance
oadings Of s5s sos47. as compared viii
az ,94599 for the rear preceding ana
With losses Of sl594ll.83 in 1906. S236,
.Sl65 in 1905 and s240,03l2s in 1904
These favorable changes are the result
10Th Of an actually greater economy and
I the securement Of larger outstand-
ne insurance without Increasing the fixed
harges 81 maintenance
The reserves released On surrendered
,olieies cquaHca sI.os7 o5so4 and the
ash values allowed thereon 81. OBS, 1924,
saving a surrender charge Of SIS. $3.50,
'he book reserves released on lapsed pol
sies amounted to SOS .9Se24, while there
vas itemized decrease in surrender val
les unpaid Of aQ,4a0.#s This gave
otal gain from cancelled insurance Of
The annuity york shows
What * called an actuarial loss 81
n s27sl Twenty three annuitants
led during the year diseontinuing an.
ual payments Of ss,la7l9 and releasing
criminal reserves Of s59.762.24 Taking
hese twenty contracts By themselves,
hey supplied the company a gross con-
Iteration Of s77,5l0.04, while the gross
utgo on their account was S53,34l.a3, |
saving profit, over and above interest
armed of s24l0sIl This last item,
Imilarly computed for the preceding
ear, was s20,lllls.
The general surplus Of tho company, 1
fter providing for 1910 dividends and (
very increase in deferred surplus &C.
1unts, is now sl.sse 27062. which is an
icrease over the preceding year Of 1893,
1898 and amounts to A66 per cent. Of
le policy reserves,
Liability Accounting
The reserve liability il composed Of
lree large items The first representing \
isurances issued prior to January Z, 81
l0i, is computed il accordance with the
'mbined experience Of actuaries table
I'D 4 per cent. interest, The second, rep