The Republican journal. [volume] (Belfast, Me.) 1829-current, 1916-01-27
To POLICYHOLDERS:


TIME SIXTY SIXTH ANNUAL REPORT, exhibit
ing the business of the year and the statement
of the Company the thrty-frst day of De-
cember, 1915, is herewith submitted
In Report at the close of 1914 the fact en-
phaszed that our Company is business corporation
existing only for the purpose of nsurng lives and the
payment of claims, and its affairs are conducted in
strict accordance Herewith
During the early months of the year it was more
difficult than usual to interest people in placing nsur-
upon their lives, but the year advanced the
desire for protection became more apparent
with the growing prosperity that is making its
impression in many parts of the country that paid
for New Insurance reached the satisfactory volume of
3248 Policies representing 1892, and pad-for In
in Force at the end of the year amounted to
S64, 639, 288, represented by 1902 Policies
Of this New Insurance, 500 Policies of s71S. 251 81
were written upon the lives of citizens our Home
State, the Company carrying 9,lO1 Policies of
$1 $780, Cd of Insurance on the lives of residents of
Maine.
At the last session of the Legislature of Maine law
was enacted (slmilar to that in many other States)
providing that all insurance companies in compiling
annual statements may value by the amortization prin-
cipa all bonds in good standing which, briefly is the
gradual charging off and extinction of the premium or
credting and extinction of the discount involved in the
purchase of the bonds thereby spreading the loss
gain the entire period during which the bond is
held, giving the purchaser the exact periodic income
upon the basis on which the bond purchased and
the exact price for which the bond would sell the
date the amortization made if sold to net the
interest return as that at which it purchased.
AS will be by the balance sheet herein this
Company has adopted the above method for valuation
of bonds, carrying its stock at market values, the
statement of total Assets being $l9 1877 991. 80 and
Surplus 81, 422, $50. 95.
Payments to benefciares under Death Claims and to
Polcyholders in Matured Endowments, Dividends Sur
rendered Policies and Annuies aggregated So, 482,-
447 81 in 1915, making the total to Polcyhold
ers since the Incorporation of the Company IN 1848
S54, $685. 1913 81 with boundless comfort that would
otherwise have been unknown to many stricken fam
lies
One Policy under which death occurred in 1915 had
been in force siXty-one and one-haf years and the
owner was lightweight years of age, while another
Pocyholder who ninety-two years old when he
died had been insured the much shorter period of forty
and one-haf years. The quickest death under
Policy that had been in force but days. with
spinal meningitis the cause. Eleven deaths occurred
under Policies that had been force less than year.
with SIS 900 Insurance, Upon Pocyhoders varying in
age from 25 to 49, with appendicitis and pneumonia
predomlnating as the causes. The average age at
death under all claims pad during the year IS 12
years.
Among the Death Claims paid, twelve were upon
Policies that had through the operation of the extern
sion of insurance feature, been kept force beyond
the time when premium payments had for various
been discontinued and the of Insurance
thus saved for families where there can be no doubt
protection in most instances greatly needed was
S8 020 So while during the period that this extension
benefit has been operative since 1871 there have been
76l Claims paid, representing 81 $685. 1856 36 Insurance.
many of which otherwise would have been worthless
The item of loans upor Policies advanced $685. 983 81
during 1915, the aggregate of these loans the close
Of the year being S. $685. 1877 49, Two years ago the
total S. 1874, 100 H. While Policyhoders are quite
within their rights in borrowing money when their con-
tracts provide, there be no question that it is
Usually procedure most adverse to the interests of
oeneficiaries, reducing as it necessarily Does the
Charles w, r,
AZ AZ