Judge, 1911-02-11 · page 2 of 24
Judge — February 11, 1911 — page 2: what you’re looking at
What you’re looking at
This page contains **no cartoon or satirical content**. It is entirely a financial document: the Sixty-Sixth Annual Report of the New York Life Insurance Company, dated 1911, addressed to policyholders. The page presents: - A letter from the President (signature appears to be "Harriman Phillipotts") - Financial comparisons between 1909 and 1910 - A Balance Sheet for January 1, 1911 - Income and disbursement tables This is a legitimate corporate financial statement, not satirical material. Judge magazine likely included this as paid advertising or a business insert, a common practice in periodicals of that era.
📄 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 COMPANY 346 Broadway, New York SIXTY-SIXTH ANNUAL REPORT To the Policy-Holders : a Nineteen hundred ten was a year of well-balanced, substantial progress. Nineteen hun- dred nine was a satisfactory year. A comparison of important items, for the two years is significant. 1909 1910 Income—exclusive of adjustment in book value of assets. ‘i . $104,150,213.96 $107,546,058.71 Death-claims : . . . . . é a ‘ 23,017,708.20 23,726,134.53 Other payments to policy- holders . : . : : : . . . 28,972,513.18 29,838,308.61 Dividends declared . . ‘ F é ; : 8,844,108.89 9,110,616.37 Average interest rate on bond purchases of the yi year . $ ‘ ; 5 13 % 4.15 % Average interest rate on real estate mortgages of the year Average interest rate on Domestic bonds . Average interest rate on Foreign bonds : Average interest rate on real estate mortgages. ‘ 3 : 66 49 K Interest rate earned by real estate owned . ‘ é a 4.70 % Book value of bonds . . : . : 404, 658,586. 64 413,530,908.58 Amount of real estate mortgages . . 69, 748,270.53 92,523,123. Amount Loaned to policy-holders é F : . 94,643,472.81 104,316,910. New business of the year . ‘ ‘ 3 ° 5 a 146,042,400.00 157,162,000.00 ‘Total outstanding insurance. ‘ 6 3 é 2,002,809,227.00 2,039,863,031.00 Perhaps the most significant fact, showing the substantial progress of the Company, is that the average earning power of total assets on January 1, 1911, had so advanced over what it was five years earlier, as to represent an annual addition to net income of nearly $1,100,000. A booklet showing details in addition to the Income and Disbursement Account and Balance Sheet annexed will be sent on request. President. Balance Sheet, January 1, 1QII ASSETS LIABILITIES Real Estate. . . . . 7 . $11,554,601.09 Policy Reserve . . $528,222,129.00 Loans on Mortgages . . . . . 92,523,123.00 Other Policy Li iabilities. . . 7,222,025, 20 Collateral Loans. . . . ° é 200,000.00 Premiums and Interest prepaid Loans on Policies ° : 104,316,910. 37 Commissions, Salaries, ete. Bonds (market value Dec. 3, 1910) . . 405,681,304. 21 Dividends payable in 1911. Cash. . . . . 3 Ha 526.78 Reserve for Deferred Dividends Premiums in course of collection» 5. 58.67 Reserves for other purposes Interests and rents due and accrued Total . . . ‘ Fs ‘ . "$637, 876,567.14 Total INCOME, 1910 DISBURSEMENTS, 1910 Premiums : - Payments to Policy-holders : On New Policies. $6,516,105. 78 Death-losses « $23,726,134.53 On Renewed Policies. . — . 72,324,931.70 To Living Policy-holders 29;838,308.61 —$53,564,443.14 ai 5 . . . & . 90 ~ Annuities, ete. 1,512,373.90 Instalments, Dividends and Interest paid under $80,353,411.38 supplementary contracts. =... st 178,257.20 Ralbece Ree. ow « 6 « 6 918,173.83 Commissions on New Business Lg ' M jaar serio Ren'l Coms, and other payments to Agents nterest on Mortgages © 6 ee ee peeled Medical Examination and Agency Supervision Interest on Policy Loans =. i 5,218,630.98 Branch Office Salaries and Expenses : Interest on Bonds... Le ee 16,891,258.92 Home Office Salaries i om @ 5 76,951. ‘Taxes, Licenses and Insurance Department Fees interest oa Bank Memes a ae a Rent and Real Estate Taxes and Expenses... 391308.56 Other Interest i : 1335.6: General Expenses and Profit and Loss. 837,173.07 Increase by adjustment in Book Value of Ledger Decrease by adjustment in Book Value of Ledger Assets. 6 ees 440,482.93 Assets. : 1,205,005.28 OtherIncome . 6 + ee ee 395,349.53 For Reserves to meet Policy Obligations =; =. ~—_41,597,665.14 Total See ee $107,986,541.64 Total . . we $107,986 ,541.64 comicbooks.com