The evening world. Newspaper, January 3, 1901, Page 5

FIFTY-SIXTH ANNUAL STATEMENT lew York Life Insurance Nos, 346 & 348 BROADWAY, NEW YORK CITY. . JOHN AU McGARE . =. =: . =. . . | , President. <= BALANCE SHEET, JANUARY ist, 1901. ASSETS. LIABILITIES. United States a City, County and other Bonds (cost value $157,212,823), market vclue, Policy Reserve (per certificate of New York Insurance Department), Dec. 31, 1900 ........+2000 $213,032,202 Dec. 31, 1900....cecececcccecccceors Mlorersietelnc ete celeta’sic’s $164,883,973 All other Liabilities: Policy Claims, Annuities, Endowments, &c., awaiting presentment for payment 3,175,059. Bonds and Mortgeacs (674 Gist lier) See oe mn 34,798,942 Reserbe on Polictes which the Company values on a 3 per cent. ora 3 %y per cent. basis .......... 4,283,077 Real Estate (70 pieces, including twelve office buildings). 16,925,900 Reserve to provide Dibidends payable to policy-holders during 1901, and in subsequent years, per Loans to Policy-holders on their policies as security (legal value thereof, $24,000,000)........... 14,382,769 ‘policy contracts— Deposits in Trust Companies and Banks, at interest............sssseeseseceserererereeeseee 14,070,177 Payable to Policy-holdersin tgor..... vee. 83,537,790 Stocks of Trust and Railroad Companies ($2,965,000 cost value), market value, Dec. 31, r900..... 471,000 Eayanie to Bolicy: holders) subsequent t to 1901, aa the er ; i Loans on Stocks and Bonds (market value $3,683,045) 2,894,000 Te holdere of 13cYear Period Peat eo oreaode Quarterly and Semi-Annual Premiums not yet due, reserve charged in Liabilities. . 2,575,843 To holders of 10-Year Period Policies... "$62,976 ; Premium in transit, reserve charged in Liabilities 2,380,138 To holders of 5-Year Dividend Policies.. oe 257,832 i Premium Notes on policies in force (Legal Reserve to secure same, $4,000,000) 2,133,365 Aggregate <cnccctlen conse wna cee dete eons Veeeseesscees 35,385,855 Interest and Rents due and accrted.......cccccceceseececseeees 1,680,405 Other funds for all other eget BR poe Danenr daca scenorinrintina | nitednnhie siccaaraanacnc 10,320,319 TOTAL ASSETS fom cece sccieccieiseiceieeseise cence eielsiocieisisinisieicreiseieiece sisters $262,196,512 TOTAL LIABILITIES Eo aga E ORDA DE SD acacouCn Roncup Sande acnsdnGnaanoSnqbencbbnepashe 262,196,512 . GASH INGOME, 1900. _ . EXPENDITURES, 1900. New Premiuns (Annuities, $1,131,093).... $11,638,731 Paid for Death-claims, Endowments and Annuities.. $17,089,020 Renewal Premiums........ce0-e000% sees 37,119,847 Paid for Dividends and Surrender Values ..........cccececccccccccccccccccucvcccesceeeeees 6,266,806 TOTAL PREMIUMS .............ccccececeeeseccrs AnpooaudoneuacGooouoboodode .++++ $48,758,578] Commissions and all other payments to agents ($5,399,145) on New Business of $232,388,255; Interest on: Medical Examiners’ Fees, and Inspection of Risks ($617,967) .......cescccccececcecees 6,017,112 Bonds terre crete ioisiv oiclocieiioic vice sisieieisielecisielsieisio'sicieisls\ele'e efe’sielele‘sisisieisievisieleicieve’e|s $6,566,720 Home and Branch Office Expenses, Taxes, Advertising, Equipment Account, Telegraph, Postage, , Mortgages secicisc cree riccssicacce rie ceisler sinclee ciesieles cre sees 1,552,644 Commissions on $969,768,410 of Old Business and Miscellaneous Expenditures.......... 5,753,445. = Loans to Policy-holders, secured by reserves on policies veee 842,458 Balance—Excess of Income over Expenditures for year............cseccccnccescceceeeceneces 23,788,156 Other securities.........0ccsesccccccceccccctcccercsccsersecesorecrecrecses 352,244 rE ee j Rents from Company’s properties valued at $16,925,900 are, gross, $952,564.76, the taxes $228,941.02, expenses and repairs $194,265.08, leaving net income.......... 529,359 Dividends on Stocks........0+-ssescvcceccseces odod 263,700 Deposits on account of Registered Bond Policies sc \sioicicslsisie cicleiclee sicleciee'e cicisiclelsic'clere 48,816 TOTAL INTEREST, RENTS, &cc..........cccccece cece ccececescececces 10,155,941 : Prue SNOT ALSINCOME Sse mcisieicistciseicleisle olsloleiticiecis oleic cieicicinisteloele e[ais’e'sisiciere o's $58,914,519 TOTAL EXPENDITURES AND BALANCE...7..........ccccceccceceeeteccreceeeseee 58,914,519 . INSURANGE AGGOUNT. ON THE BASIS OF PAID-FOR BUSINESS ONLY. f NUMBER OF POLICIES. AMOUNT. ; In Force, December 31, 1899 . Slee ‘ eG ee Deere wen ce A s) taser pate Meer Ve shi ai oo 497,700 $1,061,871,985. New Insurance Paid For, 1900 . : : j : 5 , il i , > 5 4 : arate 3 BEN ee - 115,299 232,388,255 Old Insurances revived and increased, 1900 . | . } ‘4 = 5 : : : 5 5 y es Stes 1,033. 2,395,370: ALOTAL) PAID-FOR BUSINESS 2 iii 2 ne ee eee Map ee ee ey i 54,108) $1,296,655,610 DEDUCT TERMINATIONS: By Death, Maturity, Surrender, Expiry, &c. 200. 7 ee STI ee 42,508 94,498,945, Paid-for Business in Force December 33, 1900. . . WERE, wwe ee ee 51,600 $1,202, 156,665. | + Gain in 1900. : ; a ie : : Sreiek pele ie sano eval es : ais sas eee 7S O24 $140,284,680: _ Certificate Of Superintendent of State of New York Insurance Department. Albany, January 2, 1901. ' I, FRANCIS HENDRICKS, Superintendent of Insurance of the State of New York, do hereby certify that the NEW YORK ‘LIFE INSURANCE COMPANY, of the City of New York, in the State of New York, A beled ELS [ LIFE INSURANCE COMPANY having no Cap'tal Stcek, is duly authorized to transact the business of Life Insurance in this State. ] I FURTHER CERTIFY that, in accordance with the provisions of Section Eighty-four of the Insurance Law of the State of New York, I have caused the Policy obligations of the said Company, outstanding on the 35st day of | , Decemter, 1900, to be valued as per the Combined Experience Table of Mortality, at four per cent. interest, and I certify the value of the same to be $213,032,202, 4 I FURTHER CERTIFY that the admitted’ Assets are $262,196,512. The general labilities $3,175,059, The Net Policy Reserve, as calculated by this Department, $213,032,202. | ’ Reserve on policies which the Company values on a 3 per cent. or a 336 per cent. basis, $4,283,077. Reserved to provide dividends payable to folicy-holders in 1901, and in subsequent years, rer policy contracts, | $31,385,855. Other funds for ‘all other contingencies, . $10,320,319. IN WITNESS WHEREOF, I have hereunto subscribed my name and caused my official seal to be affixed at the City of Albany, the day and year first above written. nae ea Meenee tutte anes : i Superintendent.of Insurance, -