Judge — January 28, 1905 — page 15: what you’re looking at

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

moo bottles in bole emery ap THE PROTECTION OF ONE MILLION FAMILIES. “ New-York Lire INsuRANCE Co. 1845= This Company is Sixty Years old, ‘The Sixtieth Report, covering the year tyog and describing the assets in detail, is now ready. ltw tiled to any address on request. 104 was the most prosperous year in the Company's history. sew paid business during 1gog exceeded 342 million dollars of nce. This is 15 millions more than the new paid business of any previous year, by this Company; and too millions more than the new paid bust- hess of any previous year by any other regular life insurance company. Tie expense ratio for 1904 is lower than for 1903. This Company is purely mutual; it has no Capital’ Stock. The policy- holders are the Company and own the assets. ‘Their title tothe assets 15. recorded in 925,000 policies. ‘The policies average about $2,100 each This Company has returned to its policy-holders since organization in 1845 over 450 million dollars. Cash payments to policy-holders during. the single year 1904 amounted to over go mill lars. In addition the Company loaned to policy- holders during the year on the sole security of their policies 17 mil- lion doliars, BALANCE SHEET, ASSETS. Government, State, City, County and other Bonds, cost value, . (MARKET VALUE $294,309, 761) (Company does not Include In Assets the excess $7,217,377 of market value of Wonds owned over cost), Bonds and Mortgages (413 first liens), Deposits in 489 Banks throughout the world (at interest $15,241,793), ‘ Loans to Policy-holders on Polici as security rve value thereof, $50,000,000), Real Estate, 23 pieces (including eleven office valued at $10,940,000), . . iums not yet due, reserve charged in Liabilities, Premium Notes on Policies in force (Legal Re. serve to + $287,062,384 23,595,105, 17,694,110 35,867,475 13,257,500 4,086,171 3,331,618 Premiums in transit, re: erve charged in Liabilities, 2,746,326 Interest and Rents accrued, . % i i 2,469,571 Loans on Bonds (market value, $783, 565), . A 0,000 Total Assets, . $390,660, 760 INCOME, 1904. $16,133,824 64,422,754 New Premiums, Renewal Premiums, . 5 TOTAL PREMIUMS, Interest Receipts from : Bonds owned, . . Mortgage loans, 3 Loans to Policy-holders, secured by Policies, Bank Deposits’ and Collateral Loans, : $40,556,578 $10,634,987 1,069,232 1,943,063 TOTAL INTER Rents from Company’s propertics, Profits realized on Securities sold during the year, Deposits on account of Regis ered Bond Policies, ete, . es © Total Cash Income, . $96,891,272 NEW BUSINESS PAID FOR WN 1904 C'RR:S8”) - $342 212.069 GAIN IN 1904 (eciici2.) $15,554,323 14,349,338 946,723 499,688 538,945 JOHN A. McCALL, President. =1905—= ccumulations under 925,000 policies amount to 390 million dollars, 1 under these policies. The Bonds owned aggregate at par 288 million dollars ; they cost 28; n dollars ; “their market value is 294 million dol ¢ Bond 1s in default of interest, ‘This Company does not invest in stocks or industrial securities of any kind This Company files its Detailed Annual Report with the Department ot Commerce and Labor of the United States; with the Insurance De- partment of the $ ot New Ye with each one of the State Insur- ance Departments in the United State: dl with the Governments of all the e:vilized countries of the worl This Report, in all its details, including investments and general manage: ment, is therefore scrutinized by the severest Court of Critics in the world, No other list of securities held tor any purpose presents so many official certificates of approval. JANUARY 1, 1905. LIABILITIES. Policy Reserve (per certificate of New York In- surance Dept.), Dec. 31, 1904, . - + $336,222,459 All other Liabilities on Policies, Annuities, Endow- ments, etc., awaiting presentation for payment, Reserve on Policies which the Company voluntarily sets aside in excess of the State's requirements, $6,830,023 Reserbe to provide Dividends payable to Policy- holders during 1905, and thereafter, as the pericds mature: To holders of 20-Year Period Policies, . 24,982,787 To holders of 15-Year Period Policies, 5,736,259 To holders of 10-Year Period Policies, . 344,601 To holders of 5-Year Period Policies, + 303,837 ‘To holders of Annual Dividend Policies, . 868,953 Reserve to probide for all other contingencies, . 8,461,680 Total (not including $7,247,377 excess of market value of Bonds owned over cost), . . + 47,528,140 Total Liabilities, . =. —. — $390,660,260 DISBURSEMENTS, 1904. Paid for Death-Claims ($19,734,245), Endowments ($5,051,629), and Annuities ($1,723,160), « $26,509,034 Paid for Dividends ($5,989,491), Surrender Values. ($7,790,058), and other Payments: ($95,279) to Policy-holders, . . * F Commissions and all other payments to agents, $7,276,850 (on New Business of vear, 2,- 212,569); Medical Examiners’ Fees $788,761, and Inspection of Risks $178,155, . Z : Home and Branch Office E: EXPENSES, Taxes, Legal Fees, Advertising, Equipment Account, Te! graph, Postage, Commissions on $1,586,39 739 of Old Business and Miscellaneous Ex- penditures, ‘ ~ 11,204,101 *TOTAL DISBURSE ME NTS, + + $59,831,729 Balance for Reserves—Excess of Income over Disbursements for year, . 3 . 37,059,543 The Expense catlo for 1984 Is lower thaa for 1903. Total Disbursements and Balance for Reserves, $96,891,272 TOTAL PAID-FOR INSURANCE IN FORCE C$tec) - $1 928,009,408 GAIN IN 1904 (cin) $183,396,409 6,909,661 13,874,828 8,243,766 comicbooks.com