The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1914-02-04
THE MUTUAL LIFE INSURANCE
COMPANY IN 1918.

The first policies OF The Mutual
Life OF New York we're issued Il
years ago on the LIST OF February. 1913.
This was before any other existing
American company had begun bust
ness. and entities The Mutual Life TO
be termed the oldest Life Insurance
Company in America"
In 1913 the Company paid 10 policy
holders and their beneficiaries. 10
death claims. matured endowments,
dividends. etc. the sum OF sG3 1851.
1921. This was nearly a million and
quarter dollars (s1,226. 1l5.2D fol-
every week in the year. and amounted
10 1921, ll9.17 for every working day
1902. The total payments TO policy
holders during the year exceeded the
sum paid in 1912 by s2.792, 5O3.55. and
exceeded the amount received direct
ly from policyholders by more than
five million dollars $271 .666.43).
The payments 10 policyholders in
1913 included cash dividends TO the
amount OF s17.201 100. 40. while for div
idends payable in 1914, the Company
has appropriated the extraordinary
establish a new world record for divi-
dends, or refunds, 10 policyholders.
representing savings effected through
rigid economy and efficient manage
ment The amount appropriated for
dividends in 1914 IS 30 per cent Of the
lIfiuluul INCOME OF the last year.
In 1913, the new insurance paid-for
including restorations. dividend ad-
ditions. etc, amounted to Sl65. i24.377,
an increase over the previous year OF
sS.O56.554
The total insurance in force at the
end OF 1913 was 81 SOS. i66.O7S. a net
gain OF sf7.57S.015
The real estate holdings OF the com
pany book value) AT the close OF 1919
amounted TO s23.5iS.G@s96 or less
than 4 per cent OF the company's ad-
mitted assets.
The funds Of the company arc kept
closely invested The cash on hand
~ the end or 1919 was only 1925
1873, or about the average income
OF the company for a week and h ar
or the cash on hand all but $685. II
was deposited at interest.
Although the Mutual Life has been
Issuing policies for Il years. the last
policy OF its first fiscal year terminal.
ed by the death Of the insured Mr.
George l.. Newman. Of charlottesville
Virginia. on the 18th OF October. 1913.
In his 9Sth year The American TX
perience Table Of Mortality assumes
mat OF 100000 persons. each 10 years
OF age. only . will live 20 attain the
age OF %. and that these 3 will die
before attaining the age Of 96. Never
thelcss. Of the f70 persons insured by
the Mutual Life I'm lis first fiscal year.
two lived beyond tho age 81 DC
George l.. Newman. referred 70 above.
and fhc late Charles ~ Booth. who
died In 1904 az tho age 81 101 In tho
case ~ George l.. Newman. We have
mo only instance Of the payment by
a policyholder in any American com
pany. ~ 20 consecutive annual prem
iums. These 20 annual premium ar-
greEated S2.352 on a policy which was
originally issued for 81 800 The ac.
emulation OF dividend additions
through 70 years however. made tho
policy worth as a death claim s5.762. Sc
or almost four times its original
amount
The Record % y Years
Since n began business in 1913. hTe
Mutual Life Insurance Company OF
New York
lias paid to poiicyhold-
ere ........... .......... 81 f9n 90 ~ A.
Has accumulated for pol
icyhoiders ........... 60ttfe.52s SO
Total benefits % policy
heiders arrr eato -. tt7st7sos7s.s
Ir n years ff f1r re-
gelred from policy
holders .............. fr,aats277as
Tie evrrae ~ benefits to
polirkholdcra .........g 70fettt-r oil,