Annual Report and Balance Sheet for the Year, Volúmenes33-58

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The author., 1898
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Página 50 - Resolved, That the committee on valuation of securities of the National Convention of Insurance Commissioners is of the opinion that...
Página 17 - If purchased at par, at the par value; if purchased above or below par, on the basis of the purchase price adjusted so as to bring the value to par at maturity and so as to yield in...
Página 17 - ... meantime the effective rate of interest at which the purchase was made ; provided, that the purchase price shall in no case be taken at a higher figure than the actual market value at the...
Página 9 - The relations of the two departments of the business are fixed by the provisions of the charter. The accounts and investments are kept distinct and separate. The entire surplus in the insurance department accumulates for the benefit of the policy-holders.
Página 17 - ... method of calculating values according to the foregoing rule, and the values found by him in accordance with such method shall be final and binding ; provided, also, that any such corporation may return such bonds or other evidences of debt at their market value or their book value, but in no event at an aggregate value exceeding the aggregate of the values calculated according to the foregoing rule.
Página 17 - If purchased above or below par, on the basis of the purchase price adjusted so as to bring the value to par at maturity and so as to yield in the meantime the effective rate of interest at which the purchase was made, or...
Página 4 - ... The entire surplus in the insurance department accumulates for the benefit of the policy-holders. The only advantage, direct or indirect, which the stockholders can at any time have from the union of the two features of the business, results from the fact that the management of the trust business, from which they derive their profits, is done for them without charge.
Página 17 - ... shall have full discretion in determining the method of calculating values according to the foregoing rule, and the values found by him in accordance with such method shall be final and binding ; provided, also, that any such corporation may return such bonds or other...
Página 17 - Federation, is just closing her second year of service, which has been one of the most prosperous in the history of the club.

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