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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.