Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1913-01-15

~ He sIxTY-THIRD ANNUAL REPORT of the
Directors of the UNION MUTUAL LIFE IN
sURANCE COMPANY to Policyholders is
herewith submitted.
Though general business was perceptiby retarded,
and the valuation Of the securities underwent marked
decline during the closing weeks of 1872 the aggre-
gate OF the years work herein presented shows ad
vancement in practically all departments, with par
cuar progress In the items Of Income and Insurance.
rev dmcuities beyond those incident to ordinary
suits are now encountered BY soliciting representa-
tlves much Of the prejudice against Life Insurance
common some years ago having disappeared, In place
OF which has come genuine and deep-founded inter.
est In the principles and accomplishments Of protec
ton for what they really are and do.
Growth begins with New Insurance paid for as that
goes ahead the business broadens and increases In
this department 345s Policies delivered in 1872
representing 751 Insurance. This amount was
1854 sos larger than in 1911, and there 400
Policies.
In the State Maine Insurance issued and paid for
reached the total of 81 o5s so44e which increase
OF over the figures for the preceding year,
and may fairly be taken to indicate continuance of
the good will and loyalty OF Maine people to the home
institution. Insurance in Force, basis in this
State now stands at the substantial aggregate Of
eli, sos, 1907
The securities of the Company valued, of
December 81 1912, by the bankers in other
cent years, Messrs. Edmunds Brothers. Boston, Mass
and the prices of high grade bonds and stocks
then at level much below the average, the Assets
and Surplus have not advanced to the point they ord
narily would have done under normal conditions Such
fluctuations in the immediate marketable worth of
stocks and bonds interesting for the purpose of
determining present quotations, though they in no
essential way affect the actual value of Assets which
held by institution permanent investments
with necessity OF sae but altogether for the income
yielded Under these conditions, therefore, there is
satisfaction in the fact that the Assets increased
s7ss5s7 49, reaching 49, and that the Sur
plus stood at ST. 9s2, which is within So, 544.64
of what it was at the close of the previous year.
Whenever quoted values swing upward to the average
basis, beyond, as they eventually must, strong ad
in Assets and Surplus will follow but the true
worth of the Company the guarantor of protection
for benehciares under Policies remains unaffected by
these fluctuations and undergoes appreciate change
from year to year.
The Premium Income advanced to s2,279, 1909,
increase of s2s 46 during the year, while the Total
Income which includes interest, dividends from invest
ments, rents etc. aggregated s3 III 1898 40, suostan-
tial gain the previous year.
Reflection upon the expanding purposes which Life
Insurance now covers and how very much more than
the protection of homes always it's predominant mis-
sion satisfactorily DOING serving frequently as
the guardian business welfare by insuring the mana
gers of corporations, and often furnishing the security
by which young people are enabled to finance their
education, carries with it the impression that the
future still holds much in reserve for the development
of the uses which insurance protection is adapted
The steady advance in Insurance in Force which at
the close 1912 had reached S63 49 $685. secured by
43 62s Policies indicates convincingy that broadening
of confidence in principles to which those
whose faith has established by long observation
believe they are entitled The advantages which will
gradually accrue families and communities through
the settlement these Policies each one absolutely
certain contract requiring only that the moderate
yearly outlay be met both far-reaching and in
estmable.
Before all else, the protection furnished to families
throughout the circumstances which transpre in the
course of lifetime forms the underlying and actual
mission of life company, and since there is
no question but what every maintained Policy will
eventually become payable, death being inevitable,
care and promptness in the settlement OF claims count
for much in the reputation of institution. In this
mportant branch of the work, the Union Mutual nva-
riably undertakes make payments with all the dis
patch consisent with usual business procedure, and is
frequently in receipt commentator of it's methods
During 1912 4s9 Death Claims we're paid under which
the amount of Insurance was s7692s 56, which is
s15524 IS less in the previous year. These Poll
cies were running upon 427 lives, with fifty five and
one half wears the average age at death. The Oldest
Policyhoder in point of individual age whose death
in 1912 attained ninety six years. and his
contract had been carried thirty nine years. One
who was eighty two years when he died. as result of
pneumonia had insured eight and one fourth