MICHIGAN. 



619 



The entire capital stock is given as $44.487, 

 200; admitted assets, $116,582,187; surplus as 

 regards policy-holders, $70,778,743 ; over capi- 

 tal and all other liabilities, $82,388,333.44. In 

 the above aggregates the capital stock of all 

 foreign companies is rated (under the construc- 

 tion of a law of 1879) at $200,000 each, and 

 their financial condition estimated on the basis 

 of their assets 4md liabilities in the United 



States. In stating assets and liabilities of 

 both home and foreign companies, all deposits 

 of funds made in States for the exclusive ben- 

 efit of policy-holders iu such States have been 

 deducted, and also the liabilities in snch States 

 the deposits, the Commissioner says, being in 

 most cases largely in excess of the liabilities. 

 The risks, premiums, and losses of the year 

 (in Michigan) were : 



Michigan has but one life-insurance com- 

 pany, the receipts of which for 1879 were : from 

 premiums, $226,015.62; interest, $73,669.02; 

 deposits by policy-holders, $318.14; total, 

 $800,002.78. Paid policy-holders (including 

 surrender value, dividends, etc.), $158,547.21 ; 

 dividends to stockholders, $25,000 ; expenses, 

 $66,646.74. Assets, December 31st, $980,896.- 



44 ; liabilities, $664,966.94 ; surplus over liabili- 

 ties, $315,429.50. 



The seventh annual report of the Commis- 

 sioner of Railroads bears date October 10, 1879, 

 but only covers the calendar year 1878. The 

 following table comprises the leading items 

 of interest, with the same items for the year 

 1877: 



The average freight-rate per ton per mile was 1-058 cent, an increase of 0-21 of a mill over 1S77, but bringing on the 

 aggregate tonnage an Increase of $600,375.55 in the freight-earnings. 



