Public Documents of Massachusetts Volume 9, PT. 2

Public Documents of Massachusetts Volume 9, PT. 2

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1870 edition. Excerpt: ... 90 Cash on hand in the office of the Company, . 27,055 95 Cash deposited in the Metropolitan National B'k, and in the National Bank of Commerce, .. 444,735 06 Net amount (after deducting commissions and all other charges, ) of premiums falling due within the year, on policies still in force, in the hands of agents or unpaid and in process of collection, 443,134 89 Net amount (after deducting commissions and all other charges, ) of deferred premiums, (balance of annual premiums payable in instalments, ). 706,925 00 Amount brought forward, .#.. $10,433,383 72 Interest (not included above) due and not paid, $11,970.58; accrued but not due, $38,810.93, . 50,781 51 All other assets and property, .... 26,659 19 Gross present Assets, $10,510,82442 Liabilities. Losses and claims adjusted, but not yet due, . $165,000 00 Claimed, reported and supposed losses, not yet adjusted, 60,000 00 Claims for loss disputed or resisted, ... 10,000 00 Computed premium reserve, or net present value of all existing policies and obligations of the Company, as computed by the Commissioner (Actuaries', 4 per cent.), 9,896,069 63 Principal unpaid on scrip ordered to be redeemed, 60,000 00 Gross present Liabilities, except Guarantee Capital 10,191,069 63 Surplus as regards Policy-holders, $319,754 79 Remarks.--The net or mathematical premiums of the foregoing Company are based chiefly on the Actuaries' table of mortality, with interest at four per cent. Its business is conducted on the mutual plan. Surplus is distributed annually, February first, each year. Surplus is divided to the assured on the basis of contribution to surplus. Dividends to the assured are paid or applied annually, either in reduction of premiums, or in purchase of additional assurance, or in limiting the nushow more

Product details

  • Paperback | 80 pages
  • 189 x 246 x 4mm | 159g
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236504720
  • 9781236504722