Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1911-01-18

ThE SIXTY FIRST ANNUAL REPORT Of the
Directors of the UNION MUTUAL LIFE
i INSURANCE COMPANY to Policyholders
is herewith submitted
Steady advancement was made during 1910 in
every department Of the Company The year was
not one in which conditions were conducive to un-
usual increases, the results in some commercial pur
suits having been hardly normal, while the diff
culties OF conducting the business of Life Insurance.
particularly in securing capable agents, remain
diminished in consequence of which the manage
ment finds satisfaction in the progress recorded.
An important source of growth is New Insurance
paid-for the figures of which for the year were 2,
e72 Policies, 1880 1856 Insurance. the gain being 52s
Policies, 1852 1858 Insurance, over 1909
In the State Of Maine SITS, 599n New Insurance
was delivered, increase Of e216 $3.50, indicating
the favorable manner in which the institution is
garded where 1t is best known. In most of the
other territory where the Company is represented
reasonable advances we're shown in this branch of
the business.
The financial growth continued marked and sub
stantial. Notwithstanding 1910 year OF declin-
ing security values the appraisement of bonds and
stocks made by Messrs. Edmunds Brothers, of Bos-
ton, Mass, shows that the Assets increased q Os2
1901 during the year. and the Surplus OF resources
above Liabilities gained $3.50 1884, the Assets being
December 81, 1910, III, 17o s7.e5 and the Sur.
Plus 81, 55s, 1859.
The Premium Income was 81, $685. II larger than
the year before standing at q $50 27s1e Interest,
dividends from investments and rents were also
greater, the Total Income reaching q, 1883.
Looking back to the time when the present man
agement took charge OF the affairs OF the Company
seventeen years ago, some of the accomplishments
during that period will illustrate the growth of the
institution: the Assets more than two and one
half times what they were them the Surplus is six
and half times GREATER the Total Income s two
and one-quarter times larger; and the Insurance in
Force is nearly twice what it at that time, with
the number Of Policyhoders more than doubled
The purposes for which Life Insurance is possessed
are many its usefulness extending into all lines of
business we'll as surrounding the home, protection
always being the underlying factor Motives of this
high type have brought together the 1882 Policy
holders who compose the Company and who carry
col 1858 Insurance upon their lives, every
tract representing definite object to be
plished some worthy intention to be fulfilled, some
cherished idea to be completed.
In the course Of every year much Insurance will
necessarily reach maturity by death, and whenever
such circumstance comes to pass, the forethought
OF the Poicyholder in arranging financial susteuance
has merited recognition by the family. Impossible
as 1t is to designate the particular individuals who
will die within given year, it is, nevertheless true
that the number Of deaths will be close to an ex-
pected percentage, which be determined by
actuarial calculations. The mortality experience of
the Company has never been excessive, but usually
we'll within expectations, indicating careful and con-
servative selection of risks. During 190 467 Death
Claims were paid, representing $734 81 Insur-
ance. This is $4s, l9 more than in the previous
year. but such in creases probable the years go
along because of the growing volume OF Insurance
in Force. Care and despatch are always given to
the examination of proofs OF death, and every
worthy case is promptly paid.
Returns to Policy holders were also made in the
form OF dividends endowments, surrender values
etc., in the amount OF 1892 a. that the entire
payments to Policyhoders in 1910 aggregated
q, 1896 1885, making the total for the sixty-one
years that the O)mpany has been transactng bust
ness $44 076 So, practically all of which has been
placed in the hands Of those entitled to Give it
far more speedily than any other funds have been
available, executing its mission of helpfulness with
out delay or embarrassing technicality.
lift were possible for every man who starts
Policy to faithfully follow his part of the contract.