[March, 
AMERICAN AGRICULTURIST. 
18 W.] 
CONDENSED STATEMENT 
O F T H E 
Mutual Life Insurance Company 
OF NEW YORK. 
F. 8. WINSTON, PRESIDENT, 
Foe the Year Ending December 81st, 1876. 
Dr. 
REVENUE ACCOUNT. 
Cr. 
To balance from last 
ac- 
By paid Death and Endow¬ 
count........ 
.... $75,414,923 42 
ment Claims_... 
$4,459,458 52 
“ Premiums received. 
.... 15,136,703 36 
“ “ Annuities. 
' 24.611 49 
“ Interest and Rents.. 
“ “ Dividends. 
“ “ Surrendered Poli¬ 
'3,701,700 34 
cies and Additions. 
6,319,785 21 
“ “ Commissions (pay¬ 
ment of Current and 
extinguishment of 
future).... 
676,967 49 
“ “ Contingent Guaran¬ 
tee account -- 
56,160 85 
41 “ Expenses and Tax¬ 
es .. 
.664,302 35 
Balance to New Account. 
79,526,900 87 
$95,429,887 12 
$95,429,S87 12 
Dr. 
BALANCE SHEET. 
Cr. 
To Reserve at four pel-cent. $77,502,062 i 
“ Claims by Death, not yet 
due....... 
610,750 
“ Premiums paid in ad¬ 
vance.... ... 
24,372 
“Contingent Guarantee 
Fund ...... 
654,842 
“ Surplus for Division... 
3,56S,161 
$82,360,1; 
By Mortgages Oil Real Es¬ 
tate............$60, 
<“ United States.and State 
Bonds, etc.. 12, 
“ Real Estate. 4, 
Casli in Banks and Trust 
Companies at interest 2, 
“ Interest accrued. 1, 
“ Premiums deferred, 
quarterly and semi¬ 
annual.. 
“ Premiums in transit, 
pri nci pally for Dec... 
Balances due by Agents.... 
,673,569 33 
246,245 40 
,183,001 73 
322,294 : 10 
137,195 10 
18,349 70 
$82,360,18S 59 
Premiums deferred and in transit in the foregoing Balance Sheet, have been sub- 
jected to a deduction of twenty-five per cent., by the Insurance Department, for the 
estimated cost of collecting the same. See Official Report below. 
THE REPORT OF THE EXAMINATION 
BY 
THE INSURANCE DEPARTMENT. 
Hon. Wm. Smyth, 
Acting Superintendent New York Insurance Department :■ 
In accordance with instructions received from yon under appointment Number 
363,1- report the completion of the examination into the affairs of The Mutual Life 
Insurance pan v of New York. 
Made at"a time when the annual investigation by the Trustees—as called for by 
the company’s charter-was in progress, the work was considerably facilitated by 
each Department representative acting with one of the said Trustees, thus giving a 
double force with a check that was invaluable as to the correctness of the labor 
performed. 
The valuations of the Policies in force have been made in the Department under 
the supervision of Mr. D. II. Keefer, our Actuary, and have occupied his attention 
With that of the rest of our actuarial force not engaged in New York. 
The investments of the company, with other admissible assets, make a total of 
$82,076,706.87. 
That the Company has been successfully managed is everywhere conceded; and 
it is very necessary that the custodians of this sacred trust fund should he men emi¬ 
nently competent to guard zealously the moneys that in the future afford the protec¬ 
tion guaranteed by contracts;with the holders of ninety-two thousand'one hundred and 
twenty-five policies. 
The Company does not need any other endorsement by the Department than is 
shown in the assets and liabilities enumerated below, exhibiting a surplus, as regards 
policy-holders, of $10,262,879.44. 
A schedule giving In detail the Information necessary for valuations' of property, 
verification of title, &c., of each of the seven thousand one, hundred and fifty-six 
(7,156) mortgages, has been compiled, and with a list of uncollected and deferred pre¬ 
miums is now on file in the Department. 
The following was the condition of the Company on December 31st, 1876: 
Real estate . 
: ASSETS. 
Bonds and mortgages . 
Stocks and Bonds. 
Par V.alue. 
Market Value. 
U. S. bonds, registered....... 
$7,907,340 
62 
New York City bonds, registered. .. . 
... 2,405,000 
2,412,587 
50 
Boston Water bonds, registered _ 
. .. 500,000 
556,250 
00 
Providence, R. I., bonds, registered.. 
... 500,000 
537,500 
00 
Cherry Valley Town bonds... 
50,000 
50,000 
00 
City of Yonkers bonds_........... 
.. 118,000 
■* 128,250 
00 
Buffalo City bonds... 
... 140,500 
145,417 
50 
Elmira City bonds .... l .. 
56,000 
57,435 
00 
Missouri State bonds . i ..... 
• 225,025 
00 
San Francisco bonds.. ..... 
- 637,528 
71 
Union Co., N. J., bonds. ..— 
.... 14,000 .. 
.14,735 
00 
Plainfield, N. J., bonds. .. 
... ' 1,500 
1,500 
00 
$12,063,550 
: $12,673,569 
$12,673,569 33 
Cash in bank and trust companies... 2,183,001 73 
Interest due and accrued.. .. 1,322,294 16 
Net uncollected and deferred premiums. 795,396 07 
Total admitted assets.;. ... $82,076,706 87t j 
LIABILITIES. 
Net value of. outstanding policies and additions..$71,031,205 00 
Unpaid losses not yet due (including resisted claims). 758,250 00 
Premiums paid in advance. 24,372 43 
Total liabilities.....$71,813,827 43 
Surplus as regards policy holders... 10,262 879 44 
.$82,076,706 87 
Aggregate........ 
All of which is respectfully submitted, 
JQHN A. McCALL, Jr., 
1 Deputy Superintendent. 
The Superintendent in person was present during the examination of the'United 
States securities, bonds and mortgages and other stocks and bonds owned by the 
Company, and took part in said examination. He desires to join with his Deputy in 
assuring the public that the system of management and accuracy of detail,.as well: 
a6 the checks and individual responsibilities imposed on each person, who has any¬ 
thing to do with the loaning or investing the funds of the Company, command his 
most hearty approval. The President and all other officers of the Company were 
most prompt and courteous in affording every information ; while so perfect is the, 
organization of each department that any special item required was at once furnished- 
with all its necessary and satisfactory vouchers. This will account for the fact that 
a corporation of such vast magnitude ana importance could be fully and satisfactorily 
examined in a few weeks, which, under ordinary circumstances,: would-have required: 
as many months. 
William SHVTBg Acting -Superintendent. 
GENERAL AGENTS. 
B. MERRELL, General Agent for Michigan, Indiana, Illinois, Wisconsin, Iowa and 
Minnesota. Address Merrell & Ferguson, Detroit, Mich. O. F. BRESEE, 
General Agent for Virginia,'West Virginia, District of Columbia, Maryland, 
Kentucky, East Tennessee, Interior of the Carol inas, and Northern Georgia,. 
15 South Street, Baltimore, Md. JOHN G. . JENNINGS, General Agent for 
Ohio, Cleveland, Ohio. JOHN W. NICHOLS, General Agent for Connecticut, 
New Haven, Ct. FAYETTE P. BROWN, General Agent for Vermont, and 
the Counties of Dutchess, Ulster, Orange, Putnam, Westchester, Rockland,. 
Sullivan, Delaware, Broome, Tioga and Chemung, in State of New York, 
Yonkers, N. Y. DERICK L. BOARDMAN, General Agent for Northern and 
Western New York. Address Christie & Boardman, Troy, N. Y. A. B. FORB - S, 
General Agent for Pacific Coast, San Francisco, Cal. AMOS D. SMITH,. 
3d, General Agent for Massachusetts, Boston, Mass. W. D. LITTLE, General, 
Agent for Maine and Mew Hampshire, Portland, Me. F. W. VANUXEM, Gen- ■ 
oral Agent for Pennsylvania and Delaware. Address, Vanuxem, Bates & Lam-' 
. bert, Philadelphia, Pa. BYRON SHERMAN, General Agent for Missouri, 
Kansas, Nebraska, Colorado and Western Arkansas, and Dakota and Wyoming 
Territory, 300 Fourth Street, St. Louis, Mo. C. A. HOPKINS, General Agent 
for Rhode Island, Providence, R. I. CHARLES H. RAYMOND, No. 141 
Broadway, General Agent for New York City, Long Island and' Staten Island. 
GEO. b' RAYMOND, General Agent for New Jersey, 749 Broad Street, 
Newark, N. J. 1 •' • 
