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THE MUT
*' RICHARD A. *Mecunn'r,‘ resign;
Statement for the Year Ending. Dec. 31:97,
‘1.
ALLIPE INSURANB
OF NEW YORK.
in.
lo.
I
0
According to the Standai d of the Insurance Department of the State of New York. .
Received for
From all other Sources
BISHUESEMENTS.
remiums
INCDMEe
To olicy-holders for Claims by Death . .
To olicy-holders for Endowments, Dividends, etc.
For all other Accounts
ASIE’E’S.
United States Bonds and other Securities .
First Lien Loans on Bond and Mortgage . .'
Loans on Stocks and Bonds . . .
Real Estate . . . . .
Cash in Banks and Trust Companie . .
Accrued Interest, Net Deferred Premiums, etc. .
Reserve for olicies and other Liabilities .
Surplus . . . . .
l'nsurgnce‘ and Annuities in Force . .
[have carefully examined the foregoing Statement an
v ..
- $42,693.10! 99
. 11,469,406 24
$54,162,608 23
. ‘ $13,279,630 66
. . 12,712,424 76
. , 10,132,005 57
$36,124,069 99
- $132,017.34! 45
- 69,423,937 31
. 12,880,308 00
.‘ 21,618,454 88
. 11,705,195 82
. 6,141,200 20
5W
- 218,278,243 97
- $35,598,194 so
- $936,634.496 63
d finfl the same to be correct;
liabilities calculated by the Insurance Department. CHARLES A. PRELLER, Auditor.
From the Surplus a dividend will be apportioned as~ usual
Report of the Examining Committee.
Office of the Mutual Life Insurance Company of New York.
To THE HONORABLE, THE BOARD OF TRusTEEs or ‘ .
THE MUTUAL LIFE INSURANCE GOMPAIY OF NEW YORK.
The undersigned, a Committee appointed by your honorable body, on the twenty-
second day of December. I897, to examine the Annual Statement of the Cornpany and
to verify the same, respecthly——-—:_ . —
4
- REP®RT
1.
That, pursuant to the power and authority thereby conferred, the Committee have, at various dates ' between the
date of the said reference and the date of .th is Report, attended at the Oflice of the Company, and have been waited on.
by the Treasurer, the Comptroller,the Auditor, and the Cashier, together with the respective assistants of such officers
and have carefully gone over all the items contained in the said Statement, and have found the same to be corre‘ "t The
have examined and counted every certificate of stock, bond and other obligation held by the Company and chin ares,
the prices at which the same are carried in said Statement with the market quotations, and find the same not excegdin
such quotations—in fact, in many cases below them. They have examined and counted the bonds and mortgages on mag;
pro
nany
perty held by .the Company, and find the same to be as stated.
is holdingfl of real estate and have verified the deposits of money in the various banks and trust companies and
P
have counted the cash on hand held by the Cashier. ‘
And the Committee certify that all the books, papers, documents, and evhience of title of every description neces
sary
in such examination have been freely submitted to the Committee
the same are accurate, in good order, and well kept. -
And the Committee further certify that the investments of the Company are of a high order,
They have also verified the valuation of the Com-
by the said officers and their assistants, and that
and that the system
and methods adopted by the Company in recording its transactions and caring for the assets are entitled to commendatio
- . 11
All of which is respectfully submitted.
NEW YORK, January 21, 1898.
CHAS. R. HENDERSON
,. S. V. R. CRUGER
ELBRIDGE T. GERRY
J. HOBART HERRICK JAMES C. HOLDEN
A- N. WATERI-IOUSE
Board of Trustees-
SAmm. D. BABGOCI
BronARD A. MCCURDr
JAMES C. HOLDEN
HERMAN): C. VON POST
WILLIAM J. SEWELL
OLIVER. HARRIIIAN
Roam-r ’OLIPRANT
GEORGE F. BAKER
DCDLE! OLCCTT
ROBERT A. GRANISS, Vice-President.
ISAAC F. LLOYD, 2d VicaPresi
WILLIAM J. EASI‘ON, Secretary.
JOHN AJFONDA, Assistant Treasurer.
WILLIAM P. SANDS, Cashier.
CHARLES A, PRELLER,
C. CLIFFORD GRETSINGER, Assistant Auditor.
FREDERIC CEonanLL
J ULIEN T. DAVIEs
A. N. WATERHOUSE
S. V. R. Canons
CHARLES R. HENDERsox
Roms W. PECERAII
J. HOBART HEBRICK
Wu. P. DIXON
[ ROBERT A. Gunman
HENRY H. Rooms
Jxo. W AucmNCLoss
THEODORE Moaroan
WILLIAM BABCOOK
‘STUYVESANT F1811 ‘
Aucusrus D. J UILLIARD
CHARLEs E. MILLER
WALTER R GILLETTI‘
H. WALTER WEBB
(\IVAtLTEB R. GILLETTE, General Manager.
en .
FREDEBIC OROMWELL. Treasurer.
‘ EMORY MCCLINTOCK, Actuary.
JOHN TATLOCK, JR , Assistant Actuary.
Auditor. '
' DUEB du-P. BRECK, Corresponding
ALBERT KLAuRoru, Assistant Secretary.
EDWARD P. HOLDEN,
GEORGE G. HAVEN.
ADRIAN ISELIN J1;
GEORGE S. Bownom
WILLIAM (I Warm“
WILLIAM ROCKEFELLEE
JAnEs N. JARVIE ‘
\ CnAs D. DICKEY JR
ELRRIDGE T Gunny
‘JAEES Spam;
e.
1
Secretary
, JAMES TIM l’SON. 2d..Assistant Treasurer.
Assistant. Cashier.
WILLIAM w. RICHARDS, Comptroller.
HENRY S. BROWN, Assistant Comptroller
JOHN C. E LIOl‘, Superintendent of Domestic A en 'ies.
, ED WA D LYMAN SHORT. General Solicitgor.“
memes 63: stunner. ceeeeei Agentg,
ELIAS J. MARsn, M. D-
.lIEDICAL DIRECTORs:
G. S. WINSTON M. D. Consulting.
GRANVILLE II WHIT
E, MD,
3
Ab go @AMP; EDCEA Agnge
r
‘WnnkprwaflwfigxiGAEETrnz
THE We FUND
How the Fifty Million Dollars
Were Expended.
FULL.~~REPORI‘ SUBMITTED
Details Sulmiitted to Congress frouI Heads
of Departments and Bureaus. Allril-
ments [or Ivestlgation in Porto Rico
and for the Board of Inquiry Into 11.0
Conduct of the “'ar. {7
W’ashington, D. 0., Dec. 8.——The man,-
ner in which all war funds were spent
is told in detail for the first time in
letters sent from all the departments
and bureaus to the House committee
on appropriations, and made public as
part of the report on the urgent de-
ficiency bill. ,
0f the emergency national defence
fund of fifty million dollars, the navy
department got the largest amount,
viz., $29,973,274. Of this the depart-
ment proper spent $17,706,884, mainly in
buying ships; bureau of yards and
docks, $1,038,480; equipment, $1,290,883;
navigation, $124,000; ordnance, $7,912,-
084; construction and repair, $1,115,315;
steam engineering, $430,613; supplies
and accounts, $211,484; medicine and
surgery, $37,000;~Marine Corps, $106,529.
The navy has a balance of $275,000 of
this emergency fund.
The war department expenditures of.
the emergency fund amount to $13,951.-
303, as follows: Ofiice of secretary of
war, $116,206; ordnance bureau, $4,797,-
036; engineer bureau, $5,369,787; quart-
ermaster’s bureau, $1,988,880; medical
bureau, $1,233,693; paymaster-’s bureau,
$136,944; chief signal Officer, $238,890;
lighthouse board, $69,866.
Secretary Hay-says, in a letter to the
committee, that the state department
received $393,000, in five allotments,
from the emergency fund.
Of this amount the sum of $100,000
has been transferred to the bankers
for the department at London, Eng-
land, for the use of the peace com-
mission at Paris, and $30,000 was ad-
vanced to the disbursing officer for
depart-.
the commission prior to their
are for Paris. , ,
The amount disbursed by the depart-
ment, including drafts of ambassadors,
ministers and consuls, also for trans-
portation of consular Officers, Cuban
refugees and others from Cuba, tele-
grams, etc., was $48,276.
Assistant Secretary Spaulding writes
concerning the treasury's expenditures.
of the emergency fund:
“Allotments of $10,000 for investigat-
ing the administration of civil affairs
in Porto Rico have been made to this
department, all of which will probably
be expended. An allotment of $75,000
for expenses of commission of inquiry
into the conduct of the war, has also
been made t the treasury department,
of which $2.,000 have been advanced
to the disbursing agent of the commis-
sion. How much more will be requir-
ed -the department is unable at this
time to state.”
Peace NegO! latlons.
Paris, Dec. 8.——Thcre was no joint
session of the peace commissions yes-
terday. The Spaniards are still trans-
lating the American note in regard to
the status of Spanish subjects in the
annexed territories.
As previously cabled, the eight prin-
cipal articles of the treaty are agreed
on, and all that remains is the settle-
ment of the minor points of the trea-
ty. ‘ .
'The latter will probably be signed
on Saturday next, for the Spaniards
are as anxious as the Americans to
finish the work in hand.
Secretary Ojeda of the Spanish com-
mission said: '
“It is very painful for us to remain
here haggling over details, since the
main points have been settled, and We
have been obliged to relinquish our
colonies. All the work will be finished
this Week.
“The commercial treaty between the
United States and Spain will be nego-
tiated upon the re-establishment of
diplomatic relations, and the question
of Spanish ships and products in Cuba
and Porto Rico will be included there-
in.”
The Lafayette Monument.
Chicago, Dec. 8.—’-The Paris Exposi-
tion commission has received a letter
from the French officials conveying the
information that the Lafayette memo~
rial monument in all probability, will
be given a. site in the garden Of-the
Tuilleries. Premier Dupuy is said to
favor this site.
A meeting of the commission has
been called at 'Washington for next
Tuesday, when the plans of the monu-
ment wlli'be decided upon. "
An enclosure from the state of Wash-
ington for one thousand dollars, the
contribution of the school chlldren’of
that state, was received.
Soldier Vote All in.
"Albany, N. Y., Dec. 8.-—Secretary of
State Palmer is satisfied that all the
soldier votes that have been cast in
,the field are in his possession, and he
has decided to open the packages to-
day at noon in the presence of‘Ma‘yor
Van Alstyne and William Barnes, Jr.,
of this city, who will actlas the rep~
resentatlves of the Demoératlc and Re-
publican state committees.» '
They will then be sent to the various
county clerks for distribution to the
boards of election inspectors.
Belgium Can’t Oblige Us.
London, Dec. 8.—According to a spe-
cial dispatch received from Paris a
telegram has been received there' from
Brussels declaring that Belgium can-
not oblige the United States in the
matter of admitting American preserv- .
ed meatsfluntll the American govern-
ment shows a willingness to recipro-
cate by relaxing the heavy duties.~ it
imposes upon Belgian cloth and Other
Wares. '
,_______._.._
National City Bank Shares Sell at 01,240.
New York, Dec. 8.—Flve shares of the
‘stock of the National City Bank were
,sold at auction yesterday at $1,240 a
share. , '
At the last sale. on August 3. the
stock sold at $1,111. ’
The capital stock of the bank is,
81.000.000, divided into shares of°the
our value of $100 each.
Philadelphia.
$1 4 '
., u
M'KINIZEEY’S IMMENSE POWER.
Belief that Congress “'1" Concede Every-
thing” He Wants.
“Washington, D 0., Dec. 7.—-—Ex—-Con—
[tressman S. V. White and other prom—
inent financiers, who attended the 0p-
ening session of Congress, have left
the capital convinced that President
McKinley has the power to put through
Congress everything that he, wants, the
Nicaragua canal, the reorganization
of the army and the treaty of peace.
The OppOnents of the president’s policy
are disheartened and without hope.
' They cannot make any combina ‘ons
that are worthy of the name an do
not know which way to turn in their
dilemma.
A prominent Democratic senator
made this remark on the floor of'the
onenate yesterday: -
“I hope President McKinley will be
renominated and elected. I can get
more out of him than I ever could out
of a._ Democratic president." And so
it goes.
Although Congress has only been in
session twenty-four hours, President
McKinley has already seen and con-
versed with nearly all of the leaders,
both Democrats and Republicans. He
knows'them all personally and they all
personally like him.
He also knows the men who can be
of no service Whatever to him. Upon
these he never wastes any patronage,
.so that what he gives is given with
discretion and great political judg—
ment. .
The politicians respect him and do
not hesitate to say that he is the clev-
erest politician that has ever been in
the White House and that by the time
he gets through handing out the im-
mense patronage that will shortly be
at his disposal, he will have Congress
in a position to concede anything that
he desires.
NEW ARMY BILL.
’{1 S
It Increases the Regulars to the Numbe
of 100,000.
‘Washington, D. 0., Dec. 7.—The bill
for the increase of the army is com-
pleted and will be reported to the
House to-day by Chairman Hull. It
is not a bill for the reorganization'of
the army.
qu. Hull, says: “The bill provides
or the increase of the army as re-
quired by the war. What I want is to
get our volunteers discharged by so
increasing the number of regulars, as
to do away with the necessity of keep—
ing the former in the service. The
measure provides for the increase of
the regular army to one hundred thou-
sand men. It has been estimated that
the companies will ,be increased ”to
about 144 men. It does not provide for
additional second lieutenants, as I pro-
posed, nor for a general increase of
officers, except as new organizations
are formed, or, in other words, only
where under the increase new regi-
ments are’ necessary. The bill, how-
ever, increases the number of non.-
commissioned oflicers.
It does not go as far as General
Miles recommends in the higher ranks,
for it only provides for the revival
of one lieutenant general. "
General Miles recommended one gen:
eral and two lieutenant generals. The
new bill providesfor an increase in the
departmental staffs, such as those of
the adjutan't general, quartermaster
general, commissary general, -medical
and other departments.
There is a large increase in the lat-
ter department. ,
Kemp Old Glory Pure.
Chicago, Dec. 7.—At a meeting of the
American Flag Day Association at the
Great Northern Hotel, a bill, to be pre-
sented to Congress, was adopted by the
meeting.
It makes it unlawful to use the flag
for advertising or trade purposes or
in any way that will tend to its dese-
oration.
The penalty for the first offense is
fixed at a fine of not less than fifty
dollars nor more than five hundred
dollars, and for the second offense an
imprisonment of one year and a fine
of not less than one thousand dol—
lars.
The association is to be supported in
its undertaking by the Sons of the
American Revolution, the Grand Army
of the'Republic and the Society of C0<
lonial W‘a’rs of Illinois.
Em banning Examiners.
Albany, N. Y., Dec. 7,—Governor
Black has appointed the board of em-
balming examiners of the state .of
New York, as authorized by chapter
555 of the laws of 1898. The appointees
are: .
William J. Phillips of Albany, Cor-
of Poughkeepsie, J. Charles Burnton of
New York city and John T. Gallagher
of Brooklyn.
The law creating this 'board provides
that no person shall hereafter practice
embalming in this state unless he
shall have passed an examination of
fitness which is to be prepared by the
state board of embalmers and has re-
celved a certificate of qualification from
the board.
Food Arlnlteratlonu.
Trenton, N. J.. Dec. ”ff—State Dairy
Commissioner McGuire’s .annual report
November, which is now ready for the
printer, will centaln ‘a ruu'review ,or
the commissioner?s worth: the analy-
sis of food and drugs under, the vari-
ous acts prohibiting adulteratlons. ‘
The'report will shew that 752 sam-
ples, were analyzed, and that Of these
208 were adulterated.
The commissioner says that he has
had a good deal of trouble to prevent
the sale of qleOmargarlne for butter,
because of the small amount of mon-
ey at his dispoSal .to make the neces-
sary inspection.
For Currency Reform.
Baltimore, Dec. 7.'—At a meeting of
the Baltimore Board of Trade yester-
day a resolution was adopted asking
‘the Maryland delegation in Congress
i to use its influence toward persuading
President MgKlnley to call an extra
session of Congress after March 4.
1899, to enact legislation firmly estab-
lishing the gold standard and provid-
: irrv for a reformation of the currency
system. ‘ ’
Another resolution also asks the del»
egation to support legislation in favor
of the proposed exhibition in the inter-
est of exports which is to be held in.
.-‘
‘ - a , v
nelius E. Burns of Troy, H. T. Selfridg'e .
for the fiscal year ending the first of‘
BRISK “W- SENATE
Mr. Hear Objects to Sc atbrs ”on
*0 ' Gommissicns.
HAWAII THE CASE IN POINT
The Practice of Appointing Senators on
Presidential Commissions li‘obuked.
Their Independence Lost Thereby. ,
Washington, D. C.,fl)ec. 8.——The
Senate had a long debate in executive ,
session yesterday upon the subject «of
confirmation of the Hawaiian commls- ‘ '
sioners. The debate was started by
Senator Hoar, Republican of Massa-
chusetts, who made a. vigorous protest.
against the practice of appointing sen.- .
ators upon such a commission.
He said that these senators were,
when appointed, acting under the di-
rection of and became the duly author-
ized agents of the president ,to carry
out ,. his ideas and wishes. What he-
came of their function as senators, he
asked, when the report they make, as
in the case of the Hawaiian commis-
sion, came before the Senate, a co-or-
dinate branch of the government?
In the case of the jointhigh commis-
sion now negotiating a treaty _with
Great Britain, and the peace commis-
sion now in Paris, there Were the same
objections, but applied with greater
force. Senators should hold aloof from
such positions because their acts as
commissioners were to be passed upon
hv themsc‘w " ”‘1 senator, a. very repre-
hensible practice. ~2_ ---«. ., "W, ,
he s“... ..-_.- senators acting for the
president as a commission which,
when dealing with a. foreign country,
had toact as a body, might be placed
in the position of supporting a cause
which they as senators would _ re-
ject. - _ Ir! - " ES
The method of appointing senators
on commissions was defended by Sena-
tors Morgan, Democrat of Alabama,
and Platt, Republican of Connecticut,
who claimed there was nothing incon—
sistent in acting in such capacities.
The debate then became somewhat
general, and the constitutional pre-
rogatives of the president and the
rights Of the Senate were discussed at
length upon the legal and technical
phases of the subject.
Other speakers in the controversy
were Senators Chandler, Republican of
New Hampshire, andBacon, Democrat
of Georgia, in oppisltion to the too free
exercise by the president of the power
of appointing senators to other posi-
tions. '
They pointed out that there was a
law on the statute books inhibiting cit-
izens from holding two offices with pay
at the same time, and insisted that
such appointments were contrary to
the spirit of American institutions.
Senator Aldrich, Republican of
Rhode Island, was among those who
contended for the right of the presi-
dent to call into the service of the
country the talents of senators and
members of Congress in other lines
than those in which their Offices indi—
cated._
The contention on this side was to the
effect that the practice was an Old one,
and they cited a supreme court decis-
ion to show that two oflices might be
occupied by the same~person in cases
where the services did not conflict.
At 2.15 p. m. the Senate resumed bus-
iness in Open session.
Marsh Pleads Gui] ty.
Philadelphia, Pa., Dec. 8.—Gideon W.
Marsh, president of the Keystone Na.—
tional Bank, which failed in March,
1891, was arraigned in the United
States district court yesterday and
pleaded guilty to inry'ctments charging
the misapplication of funds of the in-
stitution and the making of false re-
‘ports of the bank’s condition to the
controller of the currency. Sentence
was deferred. ,
Marsh disappeared in May, 1891, his
bail of twenty thousand dollars be-
ing forfeited, and he was a fugitive
from justice until November 3 last.
when he returned to the city and vol-
untarily surrendered himself to the
court. ,g.
VVllliam Steele, former cashier of the
National -.
wrecked Chestnut Street
Bank, was also arraigned yesterdafir
and pleaded not guilty to an indict-
.ment charging him with aiding and
abetting President William M. Singer-
ly (now deceased), in the misappropri—
ation of the funds of that institu-
tion. ‘
War Invest ‘ gallon. - ;
Washington, D. 0., Dec. 8.—The was
investigating commission examined
yesterday PaymaStei- General .XStan-ton
apd Colonel -Hecker, the quartermas-
ter in charge of the transportation'of
troops. ,
_ Colonel Hecker was examined in de-
tall as to charters and purchases of
Vessels by the war department.
He said he knew of no instance where
more than the actual cost price was
paid for vessels, despite the pressing"
necessity of the, department, nor was
there a single lnsfgmce where any ln-,
fluence outside 'thevgovernment and the
Contractingparties could have been
used. ‘
‘ “Was'there any possibility for any
third party to be benefltted by these
sales?" 'he‘ was asked. *
“1n the cases of the Part Victor and
the Scandla there certainly was," was
the reply. “To what. extent, howaver,
I cannot say."
Senator Slmoniat the White Home.
'Washington, D. 0., Dec. 8.—Amongd
the visitors at the White House yes- -_
terday morning was the new senator» ’
from Oregon, who was presented, to
the president for the first time, by‘hls
colleague, Senator McBride. ,
The swearing of Mr. Simon as a
member of the Senate this week gave
to that body a complete membership
of two senators from each state for
the first time‘in several years.
Brewers Protest.
New York, Dec. 8.--About three hun-
dred delegates from all'over the coun-
try gathered yesterday in Arion Hall,
Fifty-ninth street and Park avenue, at -
the, special meeting of the brewers, to
protest against the continuance of the .
”dollar a. barrel on beer.
brewmg concerns in
war tax of 0'
All the large
the United States are represented at "
the conference. ‘
C‘J ‘ '13»: . --.v .‘ .-
. l
Norwalk Chronicler