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Legislative Document Volume 12

Legislative Document Volume 12


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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1921 edition. Excerpt: ..."ouchcr envelopes which contained the various branch oifice bills and vouchers were examined, with the result that the company s figures were found to be understated. The amount of legal fees due and accrued carried by the company consisted almost wholly of European and other foreign items; the amount of increase was found in home ofiice paid vouchers on account of services and expenses for 1919 and prior years. The anlount of European department unpaid bills and accounts, reported by the comptro1ler s department as $94,319.03 outstanding on December 31, 1919, was not checked, the details for such verification are on file in the foreign ofiice. DIVIDENDS The New York Life Insurance Company in its financial state ments to the Insurance Department does not report any item of unassigned funds (Surplus) as such. Certain funds for the protection of policyholders may be considered as surplus, namely, security fiuctuation and general contingency fund, annual dividend equalization fund, and reserve for future expenses on paid-up annual dividend policies. Considering the total of the amounts of those three funds as surplus, the net changes for each of the least three years were: 1917 gain in surplus........................... $12,629, 468 91 1918 loss in surplus........................... 1,684, 275 93 1919 gain in surplus........................... 5, 208, 039 48 These figures are based upon the company s statement before audit. In 1917 this company adopted the amortization plan of valuing its bonds, which change resulted in a considerable increase in valuation. The same year a change in the method of calculating amounts provisionally ascertained, etc., for deferred dividends was put in cffect, which resulted...


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Product Details
  • ISBN-13: 9781234252571
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 166
  • Spine Width: 9 mm
  • Width: 189 mm
  • ISBN-10: 1234252570
  • Publisher Date: 16 Jan 2013
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 308 gr


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