Judge, 1904-02-13 · page 20 of 20
Judge — February 13, 1904 — page 20: what you’re looking at
What you’re looking at
This is **not a cartoon or satire** — it's a financial document: the balance sheet for New York Life Insurance Company as of January 1, 1904, under President John A. McCall. The page presents the company's assets ($352.6 million), liabilities, income, and disbursements for 1903. It highlights significant growth: $29.8 million increase in assets, $23.8 million gain in new business written, and $191.5 million gain in total insurance in force. The document emphasizes financial stability through detailed listings of bonds, real estate holdings, policy reserves, and income sources. It was likely published in *Judge* magazine as corporate advertising—a common practice where major companies purchased space to showcase their financial health and trustworthiness to potential policyholders, particularly during the Progressive Era when insurance industry transparency and solvency were matters of public concern.
📄 Transcribed text from this page (OCR, searchable)
Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.
NEW-YORK LIFE INSURANCE CoO. JOHN A. McCALL, President. BALANCE SHEET, JANUARY 1, 1904. ASSETS. Government, State, City, County and other Bonds (market value, $250,140,939), cost value, Dec. 31, 1903, {The Company does wot loctde i Its Ase the excess of ftal market valet ‘of Bonds aver total cost valve.) Bonds and Mortgages (455 first liens), Deposits in Banks, at interest, Loans to Policy-holders on Policies as security (reserve value thereof, $40,000,000), . Real Estate, 24 pieces (including twelve office build- ings, valued at $10,990,000), . * « rn Loans on Bonds (market value, $6,522,660), . . Quarterly and Semi-Annual Premiums not yet due, reserve charged in Liabilities, . Premium Notes on Policies in force (Legal Reserve to secure same, $5,000,000), Premiums in transit, reserve charged in iis, Interest and Rents accrued, Total Assets (ho sors o ony tnd onned o¢ koned upen, $247,994,383 24,531,774 22,126,134 28,502,073 12,725,000 5,280,000 3,603,777 3,139,284 2,563,950 2,185,672 . $382, 652,047 LIABILITIES. Policy Reserve (per certificate of New York Insur- ance Dept.), Dec. 31, 1903, Fe All other Liabilities on Policies, Annuities, Endow- ments, &c., awaiting presentation for payment, $300,090,347 5,456,654 Reserve on Policies which the Company ‘boluntorily sets aside in excess of the State’s requirements, $6,859,393 Reserve to provide Dividends payable to Policy- holders during 1904, and thereafter, as the periods mature : To holders of 20-Year Period Policies, . 23,539,923 To holders of 5-Year Period Policies, . 6,993,284 To holders of 10-Year Period Policies, . 477,607 To holders of 5-Year Period Policies, . 375,002 To holders of Annual Dividend Policies, 830,955 Reserve to provide for all cther contingencies, 8,035,322 Total, Total Liabilities, . . 47,105,046 °$352,652,047 Increase in Assets i During the Year, $26, 811,147 INCOME, 1903. New Premiums, $16,235,782 Renewal Premiums, 57,146,392 TOTAL PREMIUMS, . . . . Interest Receipts from: Bonds owned,. . . . Mortgage loans, ‘ r Loans to Policy-holders, secured by Policies, ‘ A Bank Deposits and Collateral Loans, 806,999 TOTAL INTEREST RECEIPTS, . . Rents from Company’s properties, . . «Profits realized on Securities sold during the year, Deposits on account of Registered Bond Policies, etc., Total Cash Income, . . . $73,382,174 13,370,364 930,947 274,454 311,592 “$88,269 531 DISBURSEMENTS, 1903. Paid for Death-Claims ($16,860,082), Endowments ($4,305,941), and Annuities ($1,686,696), . + $22,852,719 Paid for Dividends ($5,339,292) Surrender Values ($6,412,236) and other Payments ($65,767) to Policy-holders, . % @ 5 ‘ Commissions and all other payments to agents $1 nat 180 (on New Business of year *$326,658,- ; Medical Examiners’ Fees $748,418, and Trepetion of Risks $164,004, . Home and Branch Office Expenses, Taxes, ‘Legal Fees, Advertising, Equipment Account, Tele- graph, Postage, ‘ommissions on $1,418,554,663 of Old Business and Miscellaneous Expenditures, _ 10,136,844 TOTAL DISBURSEMENTS, . . . $52,883,459 Balance for Reserves—Excess of Income over Dis- bursements for year, . *The New Business of 1903, which was $23, 860, 007 m more than that of 1902, was secured at a lower expense rate, Total Disbursements and Balance for Reserves, , $88,269,531 11,817,295 8,076,601 35,386,072 New Business Paid for in 1903 Moe $326,658,236 Policies)» GAIN IN 1903 (rcicc.) $23,860,007. Total Paid-for Insurance in force (812,711 $1,745,212,899 Policies)» GAIN IN 1903 (rot) $191,584,873. comicbooks.com