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EXHIBIT XV.-TOTAL LIABILITIES (JANUARY 1, 1903)--Continued.

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EXHIBIT XVI.-ADMITTED SURPLUS.
Showing the Amount of Admitted Surplus held by the various companies over all
Liabilities, including Reserves, January 1, 1904; also showing the Assets and Liabilities,
together with a comparison of the Surplus held January 1, 1903, and rank in the same.

JANUARY 1, 1903
Admitted
Surplus

Rank
Rank. NAME OF COMPANY. Assets Liabilities. to Policy-
Jan. 1, 1904.

Admitted holders.

Surplus.

Assets.
$
$
$
$

$
Equitable, New York... 379.704,790 306,046,213 73,658,577 358,417,285 75.752,997

Mutual of New York, 401,821,662 339,826,818 61,994,844 382,432,681 68,139,223 3 New York Life

352,652,048 305,574,001 47,105,047 322,840,900 50,034,119 4 Penn Mutual...

60,785,960 57.467, 122 7,093, 192 54,391,103 Mutual Benefit ....

6,300,981 87,453,407 80, 806,656 6,646,751 82,857,559

6,630,072
Ætna Life (.....

68,067,863
61,468,186

6,599.677 63.401,214 6,385,785
Provident Life and Trust 51,151,562 44,609,143 6,542,419 49,221,423 7.307 558
Union Central..
38,630.328 32,615.895 6,014,433

33,925,816

4,943,413 Northwestern Mutual.. 178,200,625 172,211,657 +5.988,968 165,141,239 5.477,631 to Connecticut Mutual. 64,932,955 60,225,493

4.707,462 65,634,605 6,379,992 7 II Germania

32,476,116 27,969,444 4.506,672 30,695,581 4,319,875 ΤΟ New England..

35,784,010 32,573,289 3,210,723 34,432,217 3.513,702 II 13

National of Vermont. 28,360,350 25,346,982 3,013,368 25.335,591 2,589.753 13 14 Massachusetts Mutual.

33.590,999 30,955,221 2,635,778 30,960, 145 2,595.302 14 15 State Mutual

23,249,248 20,976,490 2,272,758 21,678,560 2,454 323 15 16 Reliance Life.....

2,018,701

107,874 1,910,827
17
Manhattan ..
17,682,005 15,927.795

1,754,810
17,264.747 1,747,891

16 18 Travelers... 32,197,451 30,860,009 11,337,442

29,659.922 1 1,342,542 17 19

National of U.S. of A.. 4.691,649 3.491,490 1,200, 159 3,016,091 1,053,391 19
Home Life of New York. 15,102,841 13,976,071 1,126,770 14,432,217 1,323.408 13
Berkshire....
12,693,704 11,844,765 848,939 11.831,275

801,922
Pacific Mutual c.

6,385,413
5,548,512 836,901 5,594,729

820,514 21 23 Fidelity Mutual.

5.883,925 5,065,863 818,062 4,663,276 629,683 27 24 Hartford Life.. 3,133,403 2,325,285 808,118 3,027.724

886,784
Provident Savings.
7,012,225 6,279,139

733,086

6.012,538 708,277 25 Phoenix Mutual.

17,011,162
16,281,146

730,016

15,699,212 770,849 23 Washington .. 16,963 886 16,324,726

639,160

16,544.579 736,099 24 28 Union Mutual. 10,196,359 9,576,225

620,135
9,608,117 700.713

26 299

Security Mutual of N. Y. 1.988,870 1,397,156 591,714 1,207,388 568,855 31 36 United States.. 8.783,134 8,220,486 562,648 8,621,758

571,138 30 31 Equitable of Iowa.

3,616,640
3,062 490

554,150 3,128,584 510,324 33 32 Security T. and L.

2,323,726 1,775.514 h 548,212 2,082,613 h 576,573 29 33 Mutual Reserve...

5.707.312 5,200.724 506,588 5.741,679 519.713 32 34

Presbyterian Ministers. 1,804,154 1,365,207 438,947 1,570,662 363,343 35 35 Connecticut General. 4,987.738 4.565,977 421,761 4.533,157

579,618
36
Maryland....
2,343,890 1,933,124

410,766
2,284.535

332,544
State Lite..

2,205,636 1,815,059 390,577 1,527,036
Pittsburgh L. & T.
643,484 304.351 339,133

(*) 39 Northwestern National..

3,371,816
3,033,737

338,079
Michigan Mutual..
8,343.765 8,011,942

331,823 7,769,043 297,661 39 Columbian National.

537.367 207,085
Franklin Life...

330,282
260.876

225,117 42 42

1,890,136 1,567,185 322,951 1,550,787 276,464 40 43 Conservative Life..

1,546,048 1,228,292

317.756

1,286,572 44 Life Assoc. of America.. 377.735 76,818

300,917

(*) 45 Minnesota Mutual...

1,788,150 1,517,376 270,774 1,790,209 465.971 34 46 Volunteer State Life

242,918 2,236 240,682 (*)
Southern Loan & Trust.

702,932
493,688

209,244
Illinois Life....
5,015,659 4,811,287

204,372
4,136,658

169,008 44 Mutual of Illinois.

241,567 38,069 203,498 50 Inter-State of Indiana.. 841,833 639,850 201,983

470,508 158,264 45 51 South Atlantic.. 284,339 87.478 196,861

218,528 43 52 American Central.

492,328
191,438 304,813

158,227 46 53 Des Moines Life.. 1,083,977 902,839 181,138

540,198 145,794 48 54

Bankers of New York... 1,172,729 1,009, 258 163.471 1,060,787 239,013 55 Bankers of Nebraska..

739,820

576,572 163,248 548,815 142,112 50 56 Missouri State.. 479,549 334,377 145,172

250,560 57 German Mutual.. 532,140 388,467 143,673

135,598 51 58

Security L. & A., Phila.. 202,723 59,438 143,285
Southwestern Life..

159,833 19,408

140,425 Columbia Life...

118,549

117,331 61 Meridian L. and T.. 163,285 48,383 114.902

141,810 121,319 53 62 Kansas City Life.. 212,500 97.759 114.741

(d) 63 Royal Union..

1,056,762 947,171 109,591 856,318 81,765 64 Texas Life... 148,351 40,108

121.447

107,137 Inter-State of Ohio...

166,516

64.826
101,690 144,530

100,700
Security L. & A. Gr'sboro 148,161 48,028 TOO,133 112,492

98,591 Central of lowa.....

181,113 85,183 173,034

52,197 Federal Life..

172,214 9,519 72,695 164.978 American Life..

118,889 55,III 63,778 86,559 *Commenced business in 1903. + Including tontine fund, surplus is $30,209.546 for 1901; $30,902,225 for 1902, and $31,886,847 for 1903. c Includes accident department. d Reorganized in 1903,

h Reserve at 3 per cent. 7 Reserve at 3% per cent.

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Aggregates....... 209,665,645 184,583.774 25,081,871 176,331,592 23,716,017
Combined Aggregates) 2,265,221,193 1,978,823,571) 286,397,622 12,091,882,851 293,685,9901

* Commenced business in 1903. d Reorganized in 1902.

EXHIBIT XVII.-ORDINARY AND SPECIAL SURPLUS.

Showing the total Surplus funds held by the companies on Special and Ordinary policies including amounts apportioned for distribution, January 1, 1904, compared with similar items on January 1, 1903. Rank

JANUARY 1, 1903.

Rank in

Ordinary
Total

in Total NAME OF COMPANY. Special

Total Sur

Surplus.

Surplus Funds
Surplus.
Jan. 1, 1904.
Ordinary Special

Surplus.

Surplus. Surplus.

plus. $ $ $ $

$ 1 Equitable, New York... 11,279,782 62,378,795 73,658,577 11,359,800 64,393,197 1

Mutual of New York. 59,164 844 ; 2,830,000 61,994,844 65,119,223 / 3,020,000 3 New York Life....

8,031,123

39,073,924 47,105,047 10,511,715 39,522,404 3 4 Northwestern Mutual.. 5.988,968 P25,897,879 31,886,847 5,477,631 925,424,594 Ætna Life c.

5,038.392 P 2,302,444

7,340,836

4,870,802 +2,251,587
Penn Mutual...
3,318,838 3,774,354 17,093, 192 13,027,140

3.273,841
Mutual Benefit...

6,646,751

6,646,751

6,630,072
Provident Life and Trust. 6,542,419

6,542,419
7,307,558

5 9 Union Central.....

6,014,433
6,014,433 4,943,413

IO
Connecticut Mutual.. 8 4,707,462

4,707,46296,379,992

8 Germania .....

2,741,251 o 1,765,421 4,506,672 2,818,904 P1,500,971 New England.

3,210,723 0 40,384 3,251,107 3,513,702 0 13,591
13
National of Vermont. 1,330,465 n 1,682,903

3,013,368
1,129,539 N 1,460,214

14 14 Massachusetts Mutual. 2,635,778 199,054 2,834,832 2,595,302 0 156,703 13 15 State Mutual ...

2,187,281

0 85,477

2,272,758 2,402,323 0 52,000 15 16 Home of New York. 1,126,770 e 1,142,219 2,268,989

1,323,408 е 983,обо 16 17 Reliance Life...

1,910,827

1,910,827 18 Manhattan

1,754,810
1,754,810 1,747,891

17 19 Travelers

11,337,442
1,337,442 11,342,542

18 National of U. S. A. 1,200,159

1,200, 159 1,053,391

19 21 Berkshire,

848,939

848,939 801,922 Pacific Mutual c.

836,901

836,901 820,514 23 Fidelity Mutual.

818,062

818,062
629,683

27 24 Hartford Life...

808,118

808,118

886,784 25 Phoenix Mutual.

730,016 Ø 13,162
743,178 770,849

10,414 23 26 Provident Savings

733,086
733,086 708,277

25 27 Washington ....

639,160
639,160 736,099

24 Commenced business iu 1903. c Includes accident department. e Dividend-endowment accumulations treated as liabilities. & Reserve calculated at three per cent on new policies since 1882. Dividends apportioned payable during year. I Reserve at 3% per cent. * Exclusive of extra reserve on life rate endowments included in liabilities. o Dividends apportioned payable in 1904 and subsequent years. p Inclusive of dividends apportioned for current and subsequent years.

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EXHIBIT XVII.-ORDINARY AND SPECIAL SURPLUS.- Continued.

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Exhibit XVIII.-INCREASE IN AssetS, LIABILITIES

AND SURPLUS. Showing the lacrease in Assets, Liabilities and Surplus during the year 1903 and the Rank of the companies in each item.

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| Rank

I

I

2

$
$

$ New York Lite...... 29,811,148 New York Life.. 32,740,220 Reliance Lite.. 1,910,827 1 Equitable, N. Y

21,287.5051 2
Mutual of N. Y....

25,533,360 Union Central Mutual of N. Y.

1,071,020 2 19.388,981 3 Equitable, N. Y.... 23.381,925 3 Penn Mutual.

792,211 3 Northwestern Mut..

13,059,386 4
Northwestern Mut.. 12,548,049

4 Northwestern Mut. * Penn Mutual..

511 337 6,394,857 5 Penn Mutual.... 5,602,646

National of Vt..... Union Central..

423,614 4.704.512 6 Mutual Benefit. 4,579,169 Pittsburg L. & T..

339,133 Ætna Life.. 4,666,649 Ætna Life..

4,452,757

7 Life Asso, of Amer. a 300,917 Mutual Benefit 4,595,848 8 Union Central.. 3,633,492

Volunteer State Life a 240,682 8 National of Vermont 3,024,759 9 National of Vt... 3,601,144

9 Ætna Life... Massachusetts Mut.. 2,630,854 10

213,892 9 Provident L. & T.. 2,695,278 10 Mutual of Illinois. Travelers..

203,498 10 2,537,529 II Massachusetts Mut. 2,590,378 11 Fidelity Mutual. 188,37911 Reliance Life a 2018701 12 Travelers 2,542,629 12 Germania....

186,797 12 Provident L. & T. 1,930, 139| 13 State Mutual. 1,852,253 13

Nat'l of U.S. A... 146,76813 Germania 1,780,535 14 New England.. 1,654.772 14

Southwestern Life. a 140,425 14 National of U. S. A.. 1,675.548 15 Germania.,: 1,593,738 15 Sec. L. & A., Pa... a 120,949 15 State Mutual.

1,570,688 16

National of U.S.A. 1,528,790 16 Columbia Life.. New England

a 117.331 16 1,351,793 17 Phoenix Mutual.. 1.352,783) 17 Columbian Nat'l...

105,155 17 Phoenix Mutual. 1,311,950 18 Fidelity Mutual.

1,032,270 18

Kansas City Life. d 100.631 18 Fidelity Mutual 1,220,649 19 Provident Savings.. 974,878 19 Union Mutual..

80,579 19 Provident Savings.. 999,687 20 Connecticut Mut... 970,880 20 Maryland...

78,222 20 Illinois Life...

879,001 21 Home Life of N. Y. 867,262 21 Presbyterian Min.. Berkshire

75,60421 862,429 22 Illinois Life..... 843.637 22 Berkshire ...

47,017/22 Pacific Mutual. 790,684 23 Berkshire 815.322 23 Franklin Life.

46,487 23 Security Mut, of N.Y. 780,482 24 Pacific Mutual

774,297 24 quitable of Iowa..

43.826 24 State Life.

678,600 26 Connecticut Gen... Home Lite of N. Y..

762,438 25 Inier-State Life..

43,719/25 670,624 27 Sec. Mutual, N. Y. 758,623 26 Massachusetts Mut.

40,476 26 Pittsburgh L. & T.. a 643,484 28 Union Mutual.. 668,821 27 State Life. Union Mutual.

39.791/27 588,242 29 State Life.. 638,809 28 Illinois Life....

35,364 28 Michigan Mutual... 574.722 30 Michigan Mutual.

540,56029 Des Moines Life... Des Moines Life....

35.344 29 543.779 31 Washington 516,246 30 Michigan Mutual...

34,162 30 Equitable of Iowa... 488,056 32 Des Moines Life... 508,435 31 American Central..

33.211 31 Connecticut General

454.581 33 Equitable of lowa.. 444,230 32 Central of Iowa... Washington..

32,986 32 419.307 34 Manhattan... Manhattan..

410,939 33 Liberal Life.

30,904 33 417,858 35 Inter-State of Ind.. 327,606 35 Boston Mutual

30,047 34 Life Ass. of America a 377,735 37 Pittsburgh L. & T. a 304,351 36 Royal Union.. 27,826 35 later-State of Ind....

371,325 38 Franklin Life.... 292,862 37 Provident Savings. 24,809 36 Franklin Life. 339,349 39 Columbian Nat'l..

271,336 38 Security Mut.,N.Y. 22,859/37 Columbian National 276,491 40 Security T. & L....

269.474 39 Bankers of Neb.... 21,136 38 Conservative Life... 259,476 41 Conservative Life.. 242,942 40 Mutual Benefit...

16,67939 Volunteer State Life, a 242,918 42 Missouri State. 214,095 41 Conservative Life..

16,534 40 Mutual of Illinois... 241,567 43 Minnesota Mutual.

193.138 42 Pacific Mutual.. 16,387 41 Security T. and L.

241,113 44 Bankers of N. Y... 187,484 43 Eastern Life.. Presbyterian Min... 233,492 45 | Hartford Life.... 184,345 44 Missouri State...

14,894 43 Missouri State....

228,989 46 Royal Union.... 172,618 45 Security Life & Ac. a 10,92644 Royal Union...... 200,344 47 Reserve Loan.... 170,381 46 Guaranty Mutual..

a 8,577 45 Bankers of Neb....

191,015 48 Bankers of Neb.. 169,869) 47 German Mutual 8,075146 American Central. 187,515 49 United States.... 169,866 48 Security Mut., Neb.

d 6.99147 Security L. & A., Pa. d 180,387 50 Presbyterian Min.. 157,888 49 Manhattan

6,919 48 United States... 161,376 51 American Central..

154.304 50 American Life....

6,748 49 Southwestern Life .. a 159,833 52 Reliance Life.... a 107,874 51 Bankers Reserve...

d 6,441 50 Kansas City Life.... d 133,389 53 Bankers Reserve... d 82,636 52 Sec. L. & A., N. C.

1,542 51 American Life.... 132,330 54 Life Ass.of America a 76,818 53 Texas Life

1,10652 Reserve Loan... 128,608 55

Boston Mutual ....
70,234 54 | Inter-State of Ohio.

99053 Columbia Life. a 118.549 56 Central of lowa... 60,276 55 Register L. and A..

25554 Bankers of N. Y. 111,942 57 Sec. L. & A., Pa... d 59,438 56 Travelers .

5,100155 Hartford Life.. 105.679 58 Register L. and A..

57,014 57 Meridian L. & T.. 6,417 56 Boston Mutual.... 104,281 59 Mutual of Illinois. 38,069 58 Wisconsin Life...

- 7.460 57 Central of lowa..... 93,262 60 South Atlantic...... 37,649 59 | United States.... - 8,490 58 Bankers Reserve... d 89,077 61 Sec. L. & A., N. C.

34,127 60

Northwest'n Nat'l.. - 9.761 59 Maryland .... 59.355 62 Kansas City Life.. d 32,758 61 Mutual Reserve...

13.125/60 Register L. and A.. 57,269 63 Federal Life... 28,356 62 Federal Life...

21,12061 Liberal Life ... 49.243 64 Meridian L. & T.. 27,892 63 South Atlantic.

21,667 62 Sec. L. & A., N. C.. 35,669 65 Texas Life..

27,209 64 Security T. & L... 28,361 63 Security Mut. of Neb d 29.56067 American Life...

25,582 65 Phænix Mutual..

40,83364 Texas Life....

26,904 68 Wisconsin Life... 25,575 66 Reserve Loan... Inter-State of Ohio..

41,97365 21,986 69 Security Mut., Neb. d 22,569 67 Bankers of N. Y... Meridian L. & T..

21,475 70 Inter-State of Ohio. 20,966 69 Hartford Life ... 78,66667 Eastern Life..

d 20,043 21 Southwestern Life. a 19,408 70 Washington. - 96.93968 Wisconsin Life . 18,115) 72 'Liberal Life...... 18,339' 72 Coon-cticut Gen...

157.857169 The minus sign() indicates a decrease. * Including contine fund, increase is $1,084,622.

a Commenced business in 1903. d Reorganized in 1903.

d 16,33142

75.542 66

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