The evening world. Newspaper, January 4, 1902, Page 8

a ani al THE WORLD: SATURDAY EVENING, JANUARY ¢, 1902. FIFTY-SEVENTH ANNUAL STATEMENT. NEW-YORK LIFE INSURANCE Co. JOHN A. McCALL, Presipenr. Nos. 346 & 348 Broapway, New York Cry. BALANCE SHEET, JANUARY Ist, 1902. ASSETS. LIABILITIES. (Company does not invest in Stocks of any kind.) Policy Reserve (per certificate of New York Insurance Dept.), Dec. 31, 1901, . $237,713,004 United States, State, City, County and other Bonds (cost value, srepecneet) All other Liabilities on Policies, Annuities, Endowments, &c., awaiting present. market value December 31, 1901, . 6 . 5 6 - $187,497,038 ment for payment, . : 3,767,364 ; Bonds and Mortgages (571 first liens), . ° 6 Oo 4 . . 29,694,477 Reserve on Policies which the Company values above the State’ s ‘standard, 5,153,396 Deposits in Trust Companies and Banks, at interest, : 20,382,479 || Reserve to provide Dividends payable to Policy-holders during 1902, and in : Loans to Policy-holders on their Policies as security (legal val. thereof, $27,000,000), ) 17,771,835 subsequent years, per policy contracts— Real Estate (57 pieces, including twelve office buildings), Goo 15,978,200 Payable to Policy-holders in 1902, . . ; > $4,350,704 , Loans on Bonds (market value, $14,054,350), . 10,486,000 Payable to Policy-holders, { To holders of 20-Year Period Policies, ; 21,444,120 Quarterly and Semi-Annual Premiums not yet due, reserve charged in ‘Liabilities, 2,850,935 subsequent to 1902, as { 10 holders of 15-Year Period Policies, . 7,228,626 is Premium Notes on Policies in force (Legal Reserve to secure same, $4,100,000), 2,364,868 the periods mature tt To ities o =r ie Pee : 102/518 | Premiums in transit, reserve charged in Liabilities, . . . « 5 . 2,052,115 AGGREGATE, QO lls pe | Interest and Rents due and accrued, . O oireees oti mie . oe as 1,085,430 Reserves to provide for all other contingencies, e O 0° 0 6b 7 10,480,054 Total Liabilities (per Certificate of New York Ins. Dept.), . $290,743,386 Total Assets (per Certificate of New York Ins. Dept.), . . $290,743,386 New Premiums (Annuities, $1,976,805), . . - Q si33s20.36s Paid for Death-losses ($14,817, 1287), Endowments caso, and Annuities Renewal Premiums, . - 2 6 ee 42,588,254 ($1,562,920) $20,343,654 y 5 . . . . ° ° . ‘) LD jbeceat oe PREMIUMS, Ae ee el $56,412,619 |! paid for Dividends and Samesiée Values) to Policy-holders, 3 8 6. 6 7,265,735 Bonds, 4 a $7,546,099 Commissions and all other payments to agents ($5,965,453) on New Business of ' Profi realized on Securities sold during the year, ee $262,443,788 ; Medical Examiners’ Fees, and Inspection of Risks ($746,977), *6,712,430 ort s409,3 Home and Branch Office Expenses, Taxes, Advertising, Equipment Account, ee = 0 Policy olders, se secured by es on Policies, . iil Telegraph, Postage, Commissions on $1,102,925,511 of Old Business and Rents from Goapenys properties (valued at $15,978,200) are, Miscellaneous Expenditures, . +. « ~— *6,661,064 gross, $1,000,608, the taxes $215,574, expenses and epalts Balance for Reserves—Excess of TeSeitn fe over Epentiiiares for year, 29,819,668 / $256,026, leaving net ose . 529,008 2s | Deposits on account of Registered ‘ond Policies, . 193,461 Ratio of Expense of business has decreased this year, as it has during each | TOTAL INTEREST, RENTS, &c., mo oo 6 a) ee 14,389,932 of the last nine years. shin H Total Income, . . . . . . . ~~. += $70,802,551 Total Expenditures and Balance to Reserves,. . $70,802,551 | INSURANCE ACCOUNT. GAIN—TEN YEARS, 1891--1901, : 7 ON THE BASIS OF PAID-FOR BUSINESS ONLY. DURING PRESENT ADMINISTRATION OF COMPANY. ‘ ! NUMBER OF POLICIES. AMOUNT. In Assets, . 5) #2 G46 o $164,796,006 Number aad Amount of Policies in Force, December 31, 1900, 511,600 $1,202, 156,685 “ Surplus over Liabilities, per sat Standard, . ae . ee $34,121,004 | New Insurance Paid-for, 1901, dQ ; a! 6 00 131,398 - 262,443,788 “ Premium Receipts of Year, . 4 : 5 2 ; 2 > 5 = $30,156,334 Old Insurances revived and increased, 1901,. . . « __ 1,333 “2,937,087 “ Total Income of Year, . Rech Om . oe ee we $38,948,347 i TOTAL PAID-FOR BUSINESS,. . . 644,331 $1,467,537,540 |; “ Dividends of Year to Policy-holders, . . + 8 © ee ~~ «$2,182,723 i DEDUCT TERMINATIONS: yo ‘ “ Yearly Payments to Policy-holders, . . + «+ $14,937,888 ' By Death, Maturity, Surrender, Expiry, &., . . 44,513 102,168,241 “ Total Paid-for Business : Increase in Number of Policy-holders, te 417,015 Paid-for Business in Force, December 31, 1901, 599,818 91,365,360,299 Increase in Insurance in Force, . 0 $789,679,650 i “ New York State Business: Increase in Number of Policy-holders, . . 77,165 Increase in Insurance in Force, . Q + $143,450,242 Gain in 1901, . ....... . .« 88,218 re | Albany, January 3, 1902, Certificate of Superintendent of State of New York Insurance Department. 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 mutual life insurance company having no Capital Stock, 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 31st day of December, 1901, to be valued on the following basis: Policies known as the Company’s three per cent. Policies, and all Policies issued since December 31st, 1900, being valued as per the American Experience Table of Mortality with three per cent. interest, and all other Policies being valued as per the Combined Experience Table of Mortality with four per cent. interest, and I hereby certify the value of the same to be $237,713,904. I FURTHER CERTIFY that the admitted Assets are www] Sk tl tt ot tt) $290,743,386 $24,481,268 5,153,396 ? Reserve to provide dividends payable to Policy-holders in 1902, and in subsequent years, per Policy contracts, . c— Aaaite 33,628,668 CHUM IAI Pee Sa tata ott “eng 10,480,054 $290,743,386 IN WITNESS WHEREOF, 1 have hereunto subscribed my came and caused my official seal to be affixed at the City of Albany, the day and year first above written. tht eed SS Superintendent of Insurance. The general Liabilities $3,767,364. The Net Policy Reserve, as calculated by this Department, $237,713,904,: 7 2 3! 3 Additional Reserve on Policies which the Company values on a higher basis than that used by the Department, as above stated, ? 2 Reserves to provide for all other contingencies, TOTAL; ” wear Pate ee