Life, 1904-01-21 · page 20 of 20
Life — January 21, 1904 — page 20: what you’re looking at
What you’re looking at
This page is **not a cartoon or satire**—it's a financial statement. It presents the New-York Life Insurance Company's balance sheet and annual report for January 1, 1904, under President John A. McCall. The document shows the company's substantial assets ($352.6 million), liabilities, income, and disbursements for 1903. Key figures include $73.3 million in total premiums, $88.2 million in cash income, and notably, a $29.8 million increase in assets during the year. The page emphasizes the company's financial strength and growth, highlighting that new business written in 1903 ($326.6 million) exceeded 1902's figures while maintaining lower expense rates—a selling point for the insurance company's stability and efficiency during this period. This appears in *Life* magazine likely as paid advertising or editorial promotion of the insurance company's financial health to potential policyholders.
📄 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 CO. JOHN A. McCALL, Presiwenr. BALANCE SHEET, JANUARY 1, 1904. ASSETS. Government, State, City, County and other Bonds (market value, $250, 140,989), cost value, Dec. 31, 1903... inchide ‘in 1 Ateeta the excane Bouds over total cost value.) Bonds and Mortgages (455 first liens) Deposits in Banks, at interest Loans to Policy-bolders on Policies serve value thereof, $40,000,000) Real Estate, 24 pieces (including twelve office build- ings, valued at $10,990,000) .......... 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 charge Interest and Rents accrued Total Assets(Nostocks of any kind owned of loaned upon), $247,994,383, 24,531,77 22,126,184 28,502,073 12,725,000 5,280,000 3,603,777 3,199,284 $352,65 LIABILITIES. Policy Reserve (per certificate of New York Insur- ance Dept.). Dec. 31, 1903 All other Liabilities on Policies, ‘Annuitic ies, Endow- ments, &c., awaiting presentation for payment.. Keaerve on Policies which the Company voluntarily sets aside in exeves of the State's requirements . 5,456,654 $6 859,193 Keserve to provide Dirtdends payable to Policy: holders during 1001, and thereafter, as the perods mature To holders of 20Year Period Policies .... To holders of 15-Year Period Policies ‘To holders of 10 ‘To holders of Annual Dividend Policies Reserve to provide for all other contingencies ... 47,105,046 Total Liabilities .............6... ceeeee $352,652,047 INCREASE IN ASSETS DURING THE YEAR, - $29,811,147 INCOME, 1903. $16,235,782 57,146,392 New Premiums. . Renewal Premiums . TOTAL PREMIUMS. Interest Receipts from : Bonds owned .......... Mortgage loans Loans to Polic: by Policies. Bank Deposits ‘and Collateral Loans..... .. ‘ 806.999 TOTAL IN TEREST REC EIPTS..... Rents from Company's properties .. Profits realized on Securities sold during the y Deposits on account of Registered Bond Policie $9,915,238 1,069,639 holders, secured 1,578,488 Total Cash Income New Business Pald for in 1909 (22), $326, GAIN IN 1808 Cooncie. $73,382,174 13,370,364 930,947 274,454 811,592 $88,269,531 688,236 $23,860,007. Press or THE J. DISBURSEMENTS, 1903. Paid for Death-Claims ($16,860,082), Endowments ($4,305,941), and Annuities ($1,686,696). Paid for Dividends ($5.839,292), Surrender Values $22,852,719 Policy. holders 11,817,295, Commissions and all other payments to agents $7,164,- 180 (on New Business of year *%326,658,236); Med- ical Examiners’ Fees $748,418, and Inspection of Risks $164,004. . Home and Branch Office xpenses) Taxes, Legal Fees, Advertising, Equipment Account, Tele- graph, Postage, Commissions on $1,418.554,663 of Old Business and Miscellaneous Expenditures. TOTAL DISBURSEMENTS.......... Balance for Reserves—Excess of Income over Dis- bursements for year . + The New Business of 1903, which was $23,860,007 more than that of 1902, was secured at a lower expense rate. Total Disbursements and Balance for Reserves, $88,269,531 Total Pald-for Insurance in force Cpurces)» $1, 145,212,899 GAIN IN 1903 (res2t8) $191,584,873. 8,076,601 10,136,844 $52,883,459 35,386,072 ATT CO.. NEW YORK comicbooks.com