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Michigan Mutual Life Insurance Co.

Michigan Mutual Life Insurance Co. image
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ANNUAL STATEMENT -OF THE - For the Year ending December 3ist, I897. REVBNCB ACCOUNT. Received for Premiums $1,015,562 75 Received for Interest and Rent 306,962 47 TOTAL INCOME $1,322,825 22 mSBl H.SEMEXTS. Paid Death Claims $ 348,890 05 Paid Burrender Values 30,242 30 Paid Matured Endowments 249,118 61 Paid Dividends to Policy-Holders ' 49,448 02 Total Paid Policy-Holders $677,698 98 "', Paid Agency Expenses, Commissions on New Business, J and for Renewals and Collection Fees on Old Business 180,94327 Paid Medical Examinations 11,267 46 Paid Rent, Advertising, Printing. Postage, Exchange, Canvassing, Documents, Taxes and all Incidental Expenses 111,708 88 Paid Salaries of Offlcers and Clerks 40,i95 30 Paid for Ke-Insurance and Interest on Capital 37,143 19 TOTAL DISBURSEMENTS 1,059,047 O ASSETS. Cash in Bank $ 18S,10r 14 First Mortgage Liens on Real Estáte 4,092,082 90 Real Estáte, including Home Office Bldg 541,549 97 Loans to Policy-Holders, secured by Reserves 587,253 22 Agenls' Balances 5,442 04 Bills Receivable , 8,953 45 Interest due and accrued , 131,979 60 Rents due and accrued 2,537 50 Net Outstanding Premiums, secured by Reserve Fund.. 53,390 76 Net Deferred Premiums, secured by Reserve Fund 26,878 63 TOTAL, ASSETS 5,G38,173 1 LIABILITIES. Amount of Reserve Fund, American Table (4%) $5,198,303 21 'Premiums Paid in Advanoc 11,273 69 Unpaid Dividend9 969 37 Death Claims not due 8.604 Ofl Gross Surplus, Michigan Standard (4%) 41 ,023 03 TOTAL LIABILITIES 5,638,173 31 Gross Surplus, American Table (4%%) 680,586 10 POLICY ACCOLXT. Policies issued during the year 2,654 ir Amount insured thereby 6,099,74 56 Policies in forcé December 31st. 1897 15,152 Amount insured thereby, including additions 28,429,173 81 Total amount paid Policy-Holders since organization .. 7,068,558 9 SroiMAKY: Insurance Wrltten in 1SO7 ...$0,090,742 58 Incrense of Vdinitted Ajisets 275.377 08 Increuse of Surplus on lnsis of Admitted Amtets (4%) 29,143 S OFFICERS. O. R. LOOKER , President C. A KENT First Vice-Preslaent HOYT POST Second Vice-President JAS H. CUMMINS Secretary G. W. SANDERS Actuary A. H. W1LKINSON Attorney C KENT Counsel C. A. DEVENDORF, M. D Medical Director TH12RON F. GIDDINGS Gen'l Supt. of Agencies Lansing, January 28th, 1898. I. Milo D. Campbell, Commissioner of Insurance of the State of Michigan, do hereby oertify that the Michigan Mutual Life Insurance Company, of the City of ■Detroit, is duly authorized to transact the business of Life Insurance in this State. I further certifv that in accordance with the law. I have caused the policy obligations of the said Company outstanding on the 31st day of December, 1S97, to 'oe valued per the American Experience Table of Mortality at 4% interest, and I eertify the same to be $5,197,963 21 I further eertify the admitted assets to be 5,635,4i6 04 And the surplus admitted. to be 410.ÍW9 89 In witness whereof I have hereunto subscribed my name and caused my, official scal to be afhxed, at the City oL Lansing, the day and year above written. I MILO D. CAMl-BELL, Commissioner of Insurance.


Ann Arbor Argus
Old News