Judge — February 7, 1903 — page 23: what you’re looking at

Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.

Fifty-Eighth Annual Statement OF THE NEW-YORK LIFE INSURANCE C0. JOHN A. McCALL, President 3846 AND 348 BROADWAY, NEW YORK CITY JANUARY 1, 1903 ASSETS. INSURANCE ACCOUNT. (Company does not invest in or loan upon stocks of any kinds) Naxos ‘Aisi: United States, State, City, County and other Bonds (cost value Paid-for Insurances in Force, December 31, 1901... .599,818 $1,365,369,299 $218,423,051), market value, December 31, 1902......... New Paid-for Insurances, 1902. j6AO a Bonds and Mortgages (505 first liens)... . . 2 Deposits in Trust Companies and Banks, at interest... 2 058 | Old Insurances Revived, etc....... . : ss 1,444 2,897,000 v: Pencete ae nn a8) their Policies as security (legal value 58, Oi Totals. .....000..cecceee ceeeeceeeesse++-756,202 $1,671,064,528 Real Estate (26 pieces, including 12 office buildings, valued at Total Terminated in $902..............000ceceee 52,135 147,436,502 $10,990,000). 12,880,000 | aid-for Insurances in Force December 31, 1902....704,567 $1,553,628,026 Loans on Bonds (market value, $5,949,420) 4,104,000 ° « ai Quarterly and Semi-Annual Premiums not yet due, reserve | Gain in 1902.. cevese404,749 $18,258,727 charged in Liabilities 3,147,027 | Frenium Notes on Policies in force (Legal Reserve to secure same, $4,300,000) 2,664, ais ee yn Labia eats) Certificate of Superintendent Interest and Rents accrued 1,870,775 OF STATE OF NEW YORK Total Assets (per Certificate of New York Ins. Dept.)..-.. $322,840,900 INSURANCE DEPARTMENT LIABILITIES. Policy Reserve per Certificate of New York Insurance Depart- Albany, January 3, 1903 ment (see below), December 31, 1902 - $268,344,420 | T, FRANCIS HENDRICKS, Superintendent of Insurance of the State of New AMl other liabilities : Policy Claims, Annuities, Endowments, York, do hereby certily that the NEW YORK LIFE INSURANCE COMPANY, of 7 5 the City of New York, in the State of New York, a Mutual Lite Insurance Company, &c., awaiting presentment for payment..... 4,462,361 : 2 : " fi : having no capital stock, is duly authorized to transact the business of Life Insurance Additional Reserve on Policies which the Com- | in this State. pany values on a pl spleen 3% "by the I FURTHER CERTIFY that, in accordance with the provisions of Section basis, over the 4 per cent. valuation by the eighty-four of the insurance law of the State of New York, I have caused the Policy Insurance Department...-....- obligations of the said Company, outstanding and paid for on the 31st day of Decem- Reserve to provide dividends payable to policy ber, 1902, to be valued on the following ba Policies known as the Company's holders during 1903, and in subsequent years, three per cent. Policies, and all Policies issued since December 31, 1900, being valued per policy contracts — as per the American Experience Table of Mortality with three per cent. interest, and To holders of 20-Year Period Policics and all other Policies being valued as per the Combined Experience Table of Mortality longer 23,877,326 with four per cent. interest ; and I hereby certify the result to be as follows : To holders of 15-Year Period Policies..... 8,270,742 To holders of 10-Year Period Policies..... 588,663 ua To holders of 5-Year Period Policics...... 587,401 Additions. ---.0---.0.00+¢s0eeee+++ 3,382,529,00 To holders of Annual Dividend Policies 800,947 “ © Annuities abe $5,248,315,00 Reserves to provide for all other contingencies 10,511,715 Total Net Reserve Value of Policies see eeeeee $250,008,234.00 . wre $268,589,074.00 Total....... . - 50,034,119 Less Net Reserve Value of Policies re-insured seuaueeuaee eRe 244,654.00 Total Liabilities (per Certificate of New York Ins. Dept.)..$322,840,900 Total Net Reserve Values. . . cece e + $268,344,420.00 INCOME, 1902. 1 FURTHER CERTIFY, from the sworn Report of the Company New Premiums (Annuities, $1,712,429). bees . $15,588,022 | on file in this Department, that the Admitted Assets are..-... $322,840,900.03 peal Premiums. . teteeeeeeeeeee - 49 23 | Reserve Values of Policies as calculated by this Department -$268,344,420.00 Interest, etc. (Trust Fund, $463,831)............ + 14,058,456 General Liabilities . cee © 4462,365.87 Total Income + $79,108,405 |) A saitional Reserve on Policies which the Company valves on DISBURSEMENTS, 1902. a higher basis than that used by the Department, as Death-Claims paid........ $15,932,507 above stated i $5,397,325.00 Endowments paid... ceeesee 4,045,102 Reserve to provide dividends payable to paler -holders in 1903 Annuities, Dividen rrender Values, ete 10,618,229 and in subsequent years Total paid policy-holders 34,125,078,86 . Reserves to provide for all other contingencies. . - - 30,511,715.00 Commissions, Brokerages, and all other paymen Total Additional Reserves. . whe to Agents........ seeee 8,369,787 Total: ienoTENE . $322,840,900.03 Home Office and Branch ‘Office Salaries aad Ph cians’ Fees 0.2... cesses 4,829,896 Taxes, Advertising and all ‘eilier'e expenses... Total Disbursements. .-- 50,034,518.66 IN WITNESS WHEREOF, I have hereunto subscribed my name and caused my official seal to be affixed at the City of Albany, the day and year first above written. FRANCIS HENDRICKS, Superintendent of Insurance.