6 396 New York Life Insurance Company
Report of the Superintendent of Insurance of the Dominion of Canada © 1896
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LIFE INSURANCE COMPANIES. 40
TllE NEW YORK LIFE INSURANCE COMPANY.
STATEMENT FOR THE YEAR ENDING 31ST DECEMBER, 1896.
PresidentJOHN A. McCALL. I SecretaryCHAS. C. WHITNEY
Principal Office346 and 348 Broadway, New York.
Chief Agent in CanadaDAVID BURKE. Head Office in CanadaMontreal.
(Incorporated, 21st May, 1841. Commenced business in Canada about 1868.)
,1″o Capital.
ASSETS IN CANADA.
Real estateStone building, corner of Place d’Armes Square and St.
James St., Montreal (free of encumbrance) $ 475,000 00
Amount secured by way of loans on real estate by bond or mortgage first
liens 300,000 00
Amount of loans to Canadian policy-holders on the company’s policies
assigned as collaterals ($186,395.50 on policies issued subsequent to
31st March, 1878) 194,963 50
Premium obligations on Canadian policies in force ($12,053.83 on policies
issued subsequent to 31st March, 1878) 12,733 23
Stocks, bonds or debentures, viz. :
Par value. Market value.
United States 4 per cent consols 8 100,000 00 $ 109,000 01)
Canadian Pacific 5 per cent land grant bonds 993,000 00 1,072,440 00
City of Ottawa debentures 100,000 00 107,000 00
Province of Quebec 5 per cent bonds.. . 87,200 00
West Shore R. R. 4 per cent bonds 720,000 00 748,800 00
Chicago and North-western general consolidated gold bonds 150,000 00 171,750 00
Delaware and Hudson Canal Co. bonds 240,001) 00 336,000 00
New York, Lackawana and Western bonds 410,000 00 537,100 00
$2,793,000 00 83,169, 290 00
Carried out at market value 3,169,290 00
Cash with agencies 1,135 19
Cash in banks, viz.:
Bank of Montreal, Montreal 5 51,587 93
Bank of Nova Scotia, Halifax 3,000 00
Branch office bank balance 1,286 35
55,874 28
Agents’ ledger balances 1,576 70
Interest accrued 21,095 84
Rents accrued 4,830 31
Gross premiums due and uncollected on Canadian policies in force $ 41,818 31
Gross deferred premiums on same 37,578 00
Total outstanding and deferred premiums $ 79,396 31
Deduct cost of collection at 20 per cent 15,879 26
Net outstanding and deferred premiums ($56,237.74 on policies issued
subsequent to 31st March, 1878) 63,517 05
Total assets in Canada $4,300,038 10
