The Republican journal. [volume] (Belfast, Me.) 1829-current, 1915-01-28
TO POIicYhOLders /:

the business of the year and the statement of the
Company on the thirty-frst day of December 1914
is herewith submitted.
Life Insurance Companies frequently spoken of
financial institutions that the fact they simply
business corporations is commonly overlooked. Life
Insurance Company exists only for the purpose of nsurng
lives payment of Claims and the charter of the Union
Mutual Life Insurance Company, granted by the State
of Maine in 1848, so provides.
The care and investment of the funds belonging
Pocyholders obligation of the Directors chosen by
the Policy whose trustees they but the BUSH
in which the Company is engaged the writing of
Policies of Insurance and the payment of claims there
under as they mature.
Our Company organized and commenced business
in lS49 first Policy having been written the life of
Elisha B. Pratt of Cambridge, Mass the first President
of the Company October LIST OF that year, and paid
Death Claim in February 1861 since which time Insur
protection aggregating millions of dollars has been
placed upon thousands of lives and many millions of
dollars have been returned to Poicyholders
No unusual pressure has been exerted to write
business during 1914 and general conditions which it
make extended reference have not been
favorable for the promotion of the business of the
Company many other years when commercial activi
ties of all kinds have been prosperous
Notwithstanding these conditions the unremittng labor
of loyal corps of Superintendent and Agents who
only seeking their livelihood, but devoted
of the Company whose representatives they
are and the prosperity of which largely depends
upon them has resulted iii the fact that the New nsur
paor has been greater than the average of
years past although quite equang the written
1918.
During the year been paid for 34sO Policies
&c. 100 Insurance, of which 1874 Policies of 1856 206
upon the lives of residents of our Home State
The total number of paid policies in Force upon the
Company 49, S6 of $65 420 684 Insurance,
substantial increase the amount force at the end
of the previous year.
The total payments Policy holders the organiza
ton of the Company have reached the of $52212
75080 of which $2 27 20 paid 1914 for Death
Claims, Matured Endowmens Dividends and Surrendered
Policies. details of which included in the appended
statement.
The Oldest Pocyholder who died during the year had
reached the age of nnetyone having been insured
than ortyseven and onehaf years. but another
Poicyhoder, who died the age of ninety had carried
his protection sixty-hree years and ten months The
average age of those who died during 1914 fty-hve
years. and the shortest period during which Policy be-
coming claim had been in force two months and
eleven days. death resulting from eectocution by live
wire Fourteen Pocyholders died in 1914 whose Policies
had been the books of the Company less than year,
their varying from eighteen to sixy-two and whose
aggregate insurance was $1800O
There paid during the year under the extension
feature Of Union Mutual Policies, which has been
planned at length in previous reports, II Policies of $685.
0350 bringing the total of Policies thus saved for bene
ciares 749 amounting $751; sc Insurance upon
which the insured had ceased to premiums through
neglect for other causes and which would have been
lost to their beneclares but for the operation of this
LIBERAL provision
Until within comparatively period Policy loan
of infrequent occurrence, but competition for bust
led Companies to insert loan agreement in
their Policies with the result that when various States
adopted standard forms of Policies such provisions
made compulsory that loans made Polcyholders
the security OF their Policies constitute large and
increasing percentage of the of all Companies
Loans of this character add to the interest income of the
Companies but reduce the value of the Policies
upon which they made. This Company's loans on
Policies increased from So 1884, H. December
81 1913 to ST. 1853 the end of the year 1914 and
of only SAL 500 40 during the year.
The management OF the Company urges Polcyholders
who have borrowed upon their Policies to realize that their
provision for those dependent upon them is essened the
extent of the mortgages placed their Policies
to repay the money which they have borrowed has
been truthully said, from their widows and orphans
The Union Mutual its business Name New
Hampshire Vermont Massach lsetts Rhode Island New
York, New Jersey, Delaware, Pennsylvania, Maryland
Ohio Michigan, Illinois, Indiana, Iowa. Virginia, West
Virgana Kentucky Missouri, Nebraska, Kansas, Wyom-
ing Colorado New Mexico Idaho, Utah, Arizona Nevada
Washington, Oregon California and the Dominion of
Canada.
Our company loans limited extent both approved
investment securities and mortgages of real estate
shown the appended statement but the present policy
of the Finance Committee which will be continued
chiefly invest the funds of the Company high-g grade
obligations States Counties and municipalities which
its Pocyholders live, and who by the payment of the
premiums on their Policies contribute to it's income
More than one million dollars Of investments of this
nature have been made during the year 1914.
CHAS. w. RYDER, Man;