INSURANCE COMPANY JOHN A. MCCALL, President The Investments of this Company are regulated by the following By-Law BY-LAW 31. The funds of this Company shall be invested and kept invested in the following interest or income-bearing securities among those permitted by the provisions of the insurance laws of the State of New York, viz.: In Bonds of the United States or of the State of New York; in Bonds of any county or incorporated city in the State of New York; in Bonds and Mortgages on improved, unencumbered and income-producing real property in the State of New York, worth fifty per centum more than the amount loaned thereon; in Bonds of any solvent institution incorporated under the laws of the United States or any State thereof; in Bonds issued by any city, county, town, village or school district of the State of New York; in Bonds of any of the States of the United States. They may also be invested on the pledge of any of the above securities. The Company may furthermore invest the funds required to meet its obligations incurred in other States of the United States or foreign countries, and in conformity with the laws thereof, in the same kind of securities in such other States or foreign countries as are provided in the laws of the State of New York. The Company may also loan on the pledge of its own policies of insurance a sum not to exceed the reserve which it then holds on any such policy and the accumulations thereof. But this Company shall not purchase, hold or grant any mortgage loans on unimproved or non-productive property or on farms, hotels, theatres, churches, breweries, factories, or mining enterprises of any description whatsoever. Neither shall this Company make any loan on or investments in what are commonly known as industrial enterprises, nor shall this Company invest in nor loan on stocks. Pursuant to the law of the State of New York, the Company shall not acquire by purchase or otherwise, any real estate except for the accommodation of its business or in satisfaction of debts due the Company. The Assets OF THE COMPANY ARE CLASSIFIED AS FOLLOWS Government, State, Municipal and Railroad Bonds. $225,039.295 Bonds and Mortgages Deposits in Banks and Trust Companies Loans to Policyholders Real Estate, including 12 Office Buildings All Other Investments TOTAL ASSETS 26.125.318 22.622.058 22.093,674 12,880,000 14.080,555 $322,840,900 INSURANCE The Company that has paid 620 Million Dollars 190 Million more than any other company in the Oldest in America The MUTUAL LIFE INSURANCE COMPANY OF NEW YORK RICHARD A. MCCURDY, President Send to-day for "Three Million Dollars on Three Lives." The LIBRARY. American Almanac, Year-Book, PUBLISHED BY NEW YORK AMERICAN AND JOURNAL HEARST'S CHICAGO AMERICAN AND SAN FRANCISCO EXAMINER Ĉ 1904 SECOND EDITION Copyright, 1903, by W. R. Hearst THIS is the second volume of the "American Almanac and Year Book." The publishers acknowledge with gratitude the reception accorded to the first volume. They ask, also, that every reader with a complaint or a suggestion to make will address himself frankly and freely to the editor of the "American Almanac and Year Book." We shall outline in a few words the idea which underlies the publication of this book. And we shall be very grateful for any idea as to improvements and criticisms of shortcomings. The purpose of the "American Almanac and Year Book," as was stated before, is to give the public a convenient, simple and reliable "map of knowledge." Scattered throughout thousands of volumes of statistics, thousands of government reports, are the essential facts important to all of us. This almanac aims to bring together, in compact and convenient form, all of these facts. The greatest achievement, the constant struggle of modern times, is the simplifying of labor. This book is intended as a help to all labor of the mind. In the old days of limited knowledge such facts as men possessed were carried in their brains, to the detriment of their thinking qualities. The effort which should have gone to imagination, to original thought, was devoted to memorizing. The aim of this book is to do the useless, and no longer necessary, memorizing of an active race. The knowledge that the business man, the professor, the writer, once took hours to find on musty shelves, or years to pack away in their minds, is here, all condensed, ready at the finger tips. We hope and believe that this volume is an improvement over its predecessor. Each year an effort will be made to eclipse the year preceding. We ask for criticism and advice. V. |