504 



MICHIGAN. 



The number of Michigan stock, fire, and fire- 

 marine insurance companies is three ; the com- 

 panies of other States, and foreign governments, 

 reporting to the Insurance Bureau during the 

 years above given, varied from 96 to 109. 



LIFE INSURANCE. 



The following is a compilation of the new 

 business done in Michigan, embracing policies 

 issued and the amount and claims paid, for the 



years 1871, 1872, 1873, and 1874: 



' The amounts stated above as losses paid for 

 the years mentioned are very largely below the 

 actual sums returned to policy-holders, as they 

 do not include any return-premiums or divi- 

 dends. The total of premium receipts is the 



actual amount of nominal premium charged, 

 but in the mutual dividend-paying companies 

 a large rebate is really made, which, properly 

 separated, would decrease the premiums or add 

 to the amount received by the policy-holders. 



SYNOPSIS OF NUMBER OF LIFE COMPANIES IN MICHIGAN AND PREMIUM RECEIPTS FROM 1861 TO 



1874, BOTH INCLUSIVE. 



The following shows the number and amount 

 of policies in force in this State at the close 

 (December 31st) of the years 1871, 1872, 1873, 

 and 1874 : 



Only one of the life-insurance companies is a 



Michigan corporation. The decrease in the 

 number of foreign companies doing business in 

 the State is due in part to the depression of 

 business affecting insurance everywhere, and 

 in part to the caution taken by the Insurance 

 Commissioner to exclude all companies whose 

 exhibits do not promise adequate indemnity to 

 policy-holders. 



The following is a summary exhibit of the 

 financial transactions of the State Treasury 

 during the fiscal twelve months closing on 

 September 30, 1875 : 



Gross receipts into the State Treasury $2 208 929 55 



Balance in Treasury October 1, 1874 1,070,274 82 



Total for period . $3 279 203 87 



Gross expenditure during the same time ! ! . 2',050^097 87 



Balance September 80, 1875 $1,229,106 50 



Showing an increase in balance, and also an excess of receipts over expenditures during the period, of. ' $158,832 13 



As stated above, the gross Treasury receipts were . . . $2 208 929 55 

 inis covers the price of State swamp-land, expended in the construction of swamp-land State roads, being 



notcash - 72,88228 



L t a li Dg f r net Ca8b recei P ts du riir the period. . . $218654782 

 Of cash there was received as not revenue kaiViii *fii 



And from refunding and reimbursements .'!!!!!!!!!!.".!!!!!!!!!!!!!!!'.! 48 095 75 



483,237 89 



T tJf aVlng f t I 6 * u 8 ! 1 re ffi 8 from ktftiniate sources of revenue . $1,653,309 98 



^erefrom am Unt re eived tO general fund ' being a reim bursement of prior expenditure 



15,416 19 



Giving for entire receipts available for general purposes . $1,668,726 12 



