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Twenty-fifth Annual Report, Jan. 1,1870.

Amount of Net Cash Assets, Jan. 1, 1869  
$10,613,474 45

RECEIPTS.
Amount of Premiums and Policy Fees,  $5,104,640 99
Amount of Interest received and accrued,
including premium on gold, &c  870,157 40-    5,974,798 89
                                                   $16,588,272 84

DISBURSEMENTS.
Losses by Death  $767,683 19
Less received from reinsurance 9,579 12- $758, 104 07
Purchased Policies and Annuities  244,890 09
Dividends to Policy-holders  1,535,399 11
Commissions, brokerages, and agency
expenses  681,324 42
Advertising and Physicians' fees  92,269 16
Office and law expenses, salaries, printing, taxes, revenue stamps and reinsurance  250,724 76-    3,562,711 61
Total  $13,025,561 23

ASSETS.
Cash on hand, in Bank, and in Trust Company  
$839,090 61
Invested in United States Stocks (market value, $2,543,980) cost  2,261,037 49
Invested in New York City Banks Stock,
(market value, $48,589) cost  41,549 00
Invested in New York State and other
stocks,(market value, $1,637,465) cost  1,624,384 11
Real Estate in the City of New York  1,545,537 17
Bonds and Mortgages (secured by real estate valued at $10,156,400; buildings thereon insured for $4,231,000 and the policies assigned to the Company as additional collateral security)  4,570,400 00
Loans on existing policies  916,859 35
Quarterly and semi-annual premiums, due subsequent to January 1, 1870  628,156 22
Premiums on policies in hands of agents, and in course of transmission  533,218 81
Interest accrued to January 1, 1870  65,327 77-   $13,025,561 23
Add excess of market value of Securities over cost 
302,363 40

Cash Assets, January 1, 1870  $13,327,924 63

APPROPRIATED AS FOLLOWS:
Amount of adjusted Losses due subsequent to Jan. 1, 1870  $167,000 00
Amount of Reported Losses awaiting Proof, &c  
6,500 00
Deposit for Minors  142 83
Am't reserved for reinsurance on existing Policies, insuring $101,151,1-6 15, participating Insurance at 4 percent. Carliale net premium. $969,725 65; 
nonparticipating at 5 per cent. Carlisle  11,213,812 96
Return Premium 1869 and prior thereto, [[p]]ayable during the year  209,718 07- 
11,657,173 91

Divisible Surplus  $1,670,750 72

The Board of Trustees takes occasion to congratulate the members of the Company upon the continued growth and prosperity which have marked the past year, concluding a quarter-century of the Company's existence. Notwithstanding the general depression of business throughout the country, and the unexampled 
pressure of competition, the new business of 1869 shows an increase over the previous very successful year of 1868, as follows:

New Policies issued in 1868  9,105. Insuring $30,765,947.
New Policies issued in 1869.  10,717. Insuring        84,446,353.

The following tables concisely exhibit the progress of the Company during the past six years:
[[4 columned table]] 
| --- | --- |---|  ---|
|   | Received for Premiums. | Received for Interest &c. | Paid for losses. |
| 1864, | $1,477,193, | $252,617, | $315,200, |
| 1865, | 2,084,804, | 261,014, | 490,522, |
| 1866, | 2,736,062, | 352,742, | 480,197, |
| 1867, | 3,104,051, | 487,339, | 560,280, |
| 1868, | 3,912,136, | 766,144 | 741,043, |
| 1869, | 5,104,640, | 870,157, | 758,104. |
| | $18,418,886. | $2,990,013. | $3,345,346. |

[[4 columned table]]
| --- | --- | --- | --- |
|   | Assets at end of year. | Increase of Assets over previous year. | Cash Dividends actually paid. |
| 1864, | $3,741,078 48, | $1,035,411 74, | $93,55 38, |
| 1865, | 5,018,349 06, | 1,277,370 58, | 250,384 14, | 
| 1866, | 7,009,092,25, | 1,990,643 19. | 282,224 21, |
| 1867, | 9,159,753 91, | 2,150,661 66, | 381,958 87, |
| 1868, | 11,000,822 60 | 1,841,068 69 | 1,225,865 26, 
| 1869, | 13,327,924 63, | 2,327,102 03,| 1,535,399 11. |
|   | Total, | $10,622,257 89. | $3,769,386 97. |

During the six years $3,345,346 have been disbursed for losses, $3,769,386 have been returned to 
policy-holders in dividends, and yet the Assets exhibit an increase during that period of over ten and a half million dollars.

The attention of policy-holders is particularly invited to the significant facts furnished by the preceding figures. The receipts for interest, premiums on gold, &c. were, as in the previous year, more than sufficient to meet the sum paid for losses, this excess being due to the low rate of mortality
(proof of a highly judicious selection of risks), and the careful and successful investment of funds. Such a result is seldom achieved by any company.

The very large amount of dividends disbursed during the year, amounting to one million, five hundred and thirty-five thousand, three hundred and ninety-nine dollars should especially be noticed. After setting aside for re-insurance and other liabilities $11,657,173 91 (nearly two and a half millions in excess of the previous year), a divisible surplus
remains of $1,670,750 72.

From the Undivided Surplus of $1,670,756 72 the Board of Trustees has declared a Dividend, available on settlement of next annual premium, to each participating policy proportioned to its "contribution to surplus."

Dividends not used in settlement of premium will be added to the policy. 

The Board presents these facts in the full confidence of their acceptability to policy-holders, believing them to be the most satisfactory proof of the skill and fidelity with which the affairs of the Company have been conducted, of its present soundness, and of the justness of the highest expectation for its future progress and usefulness. 

MORRIS FRANKLIN,
President.

WILLIAM H. BEERS,
Vice-President and Actuary.