The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1910-01-27
CONTINUED from First Page)

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cd it has bought over thirty millions |
Of such mortgages of which all but |
l6,fSI,lS6.33 have been paid off and |
On this entire investment there has |
not been lost a dollar of either prin- |
cipal or interest and not an acre of !
land acquired. Upon the farm mort
cages outstanding the company's own
inspectors after examining the secur-
ity, place a land value OF S44,235,324.
a building value of $6,340, 1913, or a to-
tai value of S50.576,217, three times
the amount loaned. while in addition
thereto the company has a fire insur-
anffce collateral of $4,435.565. The
most critical analysis of the invest
ment account enables us to report
that the company's investments in
kind, quality, distribution, earning ca
pacity and freedom from friction in
collections are in a most gratifying
condition.
Insurance Work
The new insurance issued during
the year amounted to S19,455,2 S9 and
the paid-for new business to S16,S61,-
us. There was carried over into
1910 in unsettled account $2,235,23S.
The average policy amount was $2,-
176 and the average premium per
thousand $2S.60, an increase over the
year preceding of $1.37. The aver
age premium per thousand of gross
Insurance in force is S3712 and the
average amount of each policy s1946.
These figures continue to suggest but
in diminished degree the recent ten
dency in favor of low priced insur-
ance forms We desire to emphasize
again the important underwriting
fact that the best insurance for the
individual is that for which he is able
to pay the largest possible premium,
provided it be bought in company
of mutual practice, stable condition
and surplus earning capacity, as dem
onstrated by existing facts. The new
issues by the company, excluding div
idend additions and revivals, we're
divided as follows; life plan 1886 per
cent; endowments, 1887 per cent:
and terms 42.77 per cent There was
slight tendency manifested by the
| issues in favor of the more substan.
tial life and endowment plans. The
companys assurances now consist of
slSS,2S9,42S upon participating plans
and $2O,S9S,449.S7 upon non partlci
pating plans, the percentages being
respectively S6.S7 and 1913, a small
| increase in favor of the dividend
sharing form. Nine years ago the
company changed its actuarial work
ing assumption from the Combined
Experience Table of Mortality and In
terest at 4 per cent to the American
Experience Table of Mortality and in
terest at per cent The division o.
its total business now, a fact of in
terest to the underwriting world is as
follows; the sum of $63,S79,052 is be
ing carried upon a 4 per cent reserve
basis and the sum of S95,30S. S25.S7 /!
carried upon per cent reserve ba
sis, the latter amounting to 59.S7 pei
cent of the total and, in its own turn
consisting of 1872 per cent on lif,
plans, 2S.6 per cent on endowment
and 22.2 per cent on terms Nearly
twenty years ago the company admit
ted women to insurance on cO-equa
terms with men but subject to Ger
tain selection requirements. It's ex
perience on female lives since tina
change has been satisfactory. II
this group of assurances there wer,
55l6 policies in force at the close o
the year; insuring $7,363,S91 at an av
erage premium of $4277 per $1,000
The average policy amount was $133
and the amount of the insurance OF
women to the total of the compan,
was 1856 per cent The annual pre-
MUM in this class amounts to $296
S1619. The company has no chang
es to report in its insurance policie
or in the practice hereunder exist
ing experience and conditions beinl
found in all respects promotive o
reduction in costs through dividen
account, Of increased strength in tn
protection guaranteed and of adde
use in the services discharged.
Surplus Earnings
Two years ago, in our 5Sth annua
report, the doctrine was announce
that declarations Of dividends and tn
continued maintenance Of dividen
scales in life insurance must finall
be fixed by company's financial an
insurance condition rs prevised an
determined by its management an
by a practice conforming to the law
of nature to market conditions and {
government by law, and that n
make-shift system of enforced or a
tifcial valuations or of enforced q
compulsory dividend declaration
would solve the problem of an ecol
omic and continuous life insuranc
service. We desire to repeat tha
advice, coupled with the statemen
also made in prior reports, that th
sole guarantee of an economical an
satisfactory work for the future
the existing condition, practice an
actual accomplishments of a life con
pany We report with satisfactio
that this view of the matter has r,
ceived a constantly increasing accel
lance on the part of both the insu
ing public and supervising agencie
and has become an established fac
For that reason It is gratifying to a,
wise the members of our compan
that It Is again able to increase II
| dividends tn matchmaking nolfov bOI