Life, 1922-03-30 · page 29 of 34
Life — March 30, 1922 — page 29: what you’re looking at
What you’re looking at
This page is **not a cartoon or satire**—it's a straightforward financial document: the 77th Annual Statement of New York Life Insurance Company dated January 1, 1922. The page presents a balance sheet showing assets of approximately $952 million (including real estate, bonds, loans, and cash) balanced against liabilities of the same amount (primarily policy reserves). It documents the company's payouts to policyholders during 1921 and loans extended for farms, housing, and business purposes. The Board of Directors listed includes prominent figures of the era like Nicholas Murray Butler (Columbia University president), George B. Cortelyou (former Treasury Secretary), and Oscar S. Straus (former Commerce Secretary)—names signaling respectability and financial soundness to potential policyholders. This appears in *Life* magazine simply as corporate advertising/public relations material demonstrating the company's financial stability during the post-WWI economic period.
📄 Transcribed text from this page (OCR, searchable)
Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.
LIFE A Purely Mutual Organization New York Life Insurance Co. (Incorporated under the Laws of New York) 346 BROADWAY, NEW YORK, N. Y. Seventy-Seventh Annual Statement DARWIN P. KINGSLEY, President Balance Sheet, January 1, 1922 Securities at Market Value as furnished by Insurance Department State of New York ASSETS LIABILITIES Real Estate $8,362,881.00 | Policy Reserve $787,157,463.00 Mortgage Loans 183,722,805.92 | Other Policy Liabilities a ees 28,527,025.08 Policy Loans... 164,305,141.17 Premiums, Interest and entals Collateral Loans. 2,301,000.00 | _ Prepaid ... 4,361,995.18 Liberty Bonds and Victory Notes 120,628,900.00 Taxes, Salaries, Rentals, Accounts, a a 7,549,037.63 Government, State, Province, * Poy =q | Additional Reserves... 7,485,874.00 County and Municipal Bonds.. 155,439,933.50 | Dividends payable in 1 42'287°368.71 Railroad Bonds...........+.+-. -271,524,487.07 | Reserve for Deferred Dividends. ... 59,303,179.00 Miscellaneous Bonds and Stocks. 7,325,003.00 | Reserves, special or surplus funds 11,067,144.16 | not included above 15,960,196.20 Uncollected and Deferred Pre- miums 14,674,443.08 Interest and Rents due and ac- crued, ete. . 13,280,399.90 Total ... 3952,632,138.80 ....$952,632,138.80 Paid to and on Account of Policy-holders during 1921 $124,308,409.00 Loaned Policy-holders during 1921 under Policy Contracts . 40,871,382.00 Loaned on farms during 1921 15,004,330.00 Loaned on Mortgages for housing purposes during 1921 9,64.6,991.00 Loaned on Business Property during 1921 11,358,909.00 The earning power of Ledger Assets, including Cash in Bank, advanced 0.16% during the year. BOARD OF DIRECTORS LAWRENCE F. ABBOTT A. BARTON HEPBURN FRANK PRESBREY ALFRED L. AIKEN MYRON T. HERRICK JOHN J. PULLEYN JOHN E. ANDRUS GRANGER A. HOLLISTER FLEMING H. REVELL CORNELIUS N. BLISS, Jr. ALBA B. JOHNSON GEORGE M. REYNOLDS NICHOLAS MURRAY BUTLER WILLARD V. KING ELBRIDGE G. SNOW GEORGE B. CORTELYOU DARWIN P. KINGSLEY HIRAM R. STEELE JOHN H. FINLEY RICHARD I. MANNING OSCAR S. STRAUS DAVID R. FRANCIS JOHN G. MILBURN S. DAVIES WARFIELD GERRISH H. MILLIKEN comicbooks.com