Judge — March 1, 1919 — page 23: what you’re looking at

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

DGE March 1, 1919 74TH ANNUAL REPORT New York Life Insurance Company DARWIN P. KINGSLEY, President Influenza, we are told, up to January |, 1919, had already killed as many young and | vigorous persons in the world generally as were killed by bullets and disease in four anda half || years of the war. } The mortality of the Company up to the outbreak of influenza promised to be, in 1918, about | 61% of the mortality provided for in the premiums; it was actually 95% of the expected. If this epidemic persists during 1919 dividends may be reduced in 1920. They remain substantially unchanged in 1919. But neither war nor influenza can make any material difference to members ; of this Company, because as against such startling incidents this Company long since made j abundant provision. From this there are two fair deductions: First—INSURE—there are just as many and just as sound reasons for insuring your life during days of peace as there are for insuring during times of war. Second—insure in companies that have aimed above all things to achieve safety. In these days SAFETY sounds better than CHEAPNESS. The New Business of the year, chiefly from the United States and Canada, was over $340,000,000 the largest year’s business in the Company’s history. The Company bought so many Liberty Bonds during the year that it was obliged to borrow from the New York banks. The statement shows, on that account, Bills Payable forover . 2. 2. 1 2. ee ee ee ee ee ee ~~» 22,800,000 On December 31, 1918, the Company owned at par in Liberty Bonds . . . . 70,000,000 And in the Bonds of the Allied Countries issued to finance the war . . . . . 30,000,000 BALANCE SHEET, JANUARY 1, 1919 INCOME DISBURSEMENTS For Insurance and Annuities $110,138,795 | On Policy Contracts $98,563,728 Interest and Rent 41,500,877 | Expenses and Taxes 22,816,479 Borrowed Money 24,000,000 | Loans Repaid... .. 1,320,000 Other Income 3,246,707 | Added to Ledger Assets F 56,186,172 Total $178,886,379 $178,886,379 Total ASSETS LIABILITIES Real Estate $13,449,600 | Policy Liabilities _.. . $786,267,002 Loans—on Mortgage, Policies and Premiums, etc., Prepaid 4,515,533 Collateral .. . 321,887,157 | Commissions, Salaries, etc . 3,876,246 Bonds and Stock 609,717,289 | Borrowed Money .... .. 22,863,879 All other Assets ; 50,033,239 | Reserves for Dividends, etc 177,564,625 Total $995,087,285 ' Total ; $995,087,285 Policies in force Jan. 1, 1919 - - - - - 1,360,433 Insurance in force Jan. 1, 1919 - - - - $2,838,829,802 comicbooks.com