Iyjj .A JL "MSB bohes missing. INSURANCE PROBERS SAY n ig'uwr'w tf flat iMt f W ! tTm Pm ffM Stata lit wMah the Ilon Mutual cywiiny if ucensea 10 1 IMHefte, where -within ran mtkitr Insurance com- )mv ml toV Vi hBn ot r8 HXAM.NEHS' RKTOIIT Rn mrt e( tha Insurance examiners tall follOWI! Men. Inaursnce ifrriDurr. it. Dr Blr In eocorfene with your Miftiorltjr tni lrHtrttCt.one, an examine. tic of' the" 'affalra ol tjie l'apslon Mutiw) Ufa 1pr.nce Company, of ritutwrgh, Pa-i has been made, rid H coition 'a of f)ptembr 10. 11. aeeordlng; to ftndlnji. I" tt forth below, LKDQIW AMBTS book Ttae J D. Q'Kell. eurmace Commleetoner, .!. aMiS. boos Wlliii Imnr rfMam no : .a,a,a : t1u.m. ii&. '..am iisi.nnn oo T 10 (100 00 to 1ST lit S SRO no til OS OV3 30 3 ll IS e.070 na It o Is. 1, POO 00 18 81 Tjttt leaser ae.al. to;,OJ.70.k 1 NONI-SnAKR -MWETS ! Merett au. ano. ao. rtre "do aY Caah In pftiee.a Daisnc. inta batsncaa . , rnttura and Dilnraa MUI IW note... . tT'etoek arreatnmts, tck raturo4 .,,... ers4 en ottni emu (wtlmaUdl a4rnt on roller loans ana prr ftsi.n s.is alum notis ?!J,.flu3if.Wp?i: 1.G0OO0 mi nasi On on namu areas essats an new boetnaaa).... l JST.IJj ... a-a.a aa t. n.ota oa , HTP.4TS.47 DEDUCT ASSETS NOT ADMITTED irnili1 balances. "521SJ3 ffcrnitpre nl1 ntur. "SI2J2 rpltrloek mm.1. . . 8? Ojo le . Hock tretnnla. l.OAono 6ftlnctts ol d.po.lt. 8 3 81 178,808 80 Balance X.IA.MMTIE8 Nt present valua p nil out tandlnit pollcl.; fn toreo on BfpUmtxr 80. 1918. com- FuUd by tb cturir of th nnl)irlTaal 1nirarnc D Mrtnwnt on th American uprrltnca tatla t W p. c. Jt pron vilua fl p.nnltlta (Includlnr thoa In reduction ot prannumi)... (! ..... t0( 889 17 M21.B23 CO 39,983 08 Total , M5M74.00 bedurt nt valua of rlaka ra. tniurM In oMr aaHnt com- onl" 00 jjET ItEBEIlVB Claim for daatb loaaf du and i and unpaid ...f ........... 1 Dua and unpaid, on uppl. mentary eontracta not tnol- . tn W contlnncl....... tolTtdandi and coupona If ft with tha company to accumulata t Inttrcat. and accrued In. .tari-tinaraon ............. nM I'ltcicnii fmv yanca (Miimairoi tJnean aiarl. ranti oftlca aipenata, Bill ". r-1 '"'3 -CI r-i-7 accrued ..r'aSo'u'n,' payab enalon ereatter truiV -....hi for taxaa w.-j- f Bnl.tv enaioo tiyrr r"TiT' IlorUaxa on homo office build. Aoeroed'fnVereat on nVriiliJ.' '. uaanca du outatandlnr chockl Baarman National IJank MSI.033 00 130.891 38 338 00 8 813 83 1.000 00 388 80 IQOPO 8.7S0 00 189 13S 60 80.000 00 238 00 Capital atock .. Total llabllltle TJabllltl' Ti IMS 40 1849,19 00 otal admitted aiiei. Deficit ,. f 1.803 CO! 77 ti.r.nj 89i. 77 . 401 2C4 17 , 11.088 423 CO lyOOD'S AFFIDAVIT The forsgolng (fur show thp ns sets anil lla,blfllea orjly, B dlnlmrs mcntB, according tp tho company's books, do not ehow that approximately 3871,300 of borid (bopK aluh) ha-Ne (lis appeared. Thin. howr, startling as It may appear. I a fact. Thq pnly ex planation for thp company pot being In possession of these bonda la oro elven by tha secretary of (he company, Mr. Charles II. Frtch, who states that theso bonds have been, returned to If. I Doherty & Co , bankers, of New York city. No receipt was produced from any one showing hese. bonds had been returned. There Is on file In this office, an affi davit made by Mr. Tyndon, T. Wood on July 21, 1914. n which he states: Tho following bond,a are. the absolute, unqualified property p( ths, pension Mu tual Llfo Insurance Company'' The st of bonds referred to Ip, tyr, food's affi davit covers substantially tl pam bonds stilt carried on tho conipany's books as Its property, nptwlthatandlps the fact that the necrctfy of, (ho cpm pany calmly Informs ypur examiners that the bonds are no Jonecr n tho company's possession. NO OWNERSHIP PIIQOF Deeds for real estate owptd. consist ing of three parcels, were carefully ex amined and all papers were found in proper order. Theso properties are as follows: (1) The home office buH'llns, 1 sltjuated at I90S Fifth aentte, Pl(ts., burgh. Pa, This property was PPralacd for the company In 1812 at Itqo.OPO and is carried on the books at that price. Tho assessed valuation. Iiqw ever, for 1916 was placed at IGE,4Q0. There Is a mortgage against this prop erty of $30,000. which Is charged us. a liability. (2) Properties S17 and 519 vi. Mann & Qjlk 1182 CHESTNUT ST. Tyrol Wool (A Kniq$& fabrto) "omena and Misgco' Suits for Motoring, 24.75 2.75 . Ewineatfly foaptqry gad - -xcfttOBalIy icrvice able. Wrif Y'itkMt WAt, waiamfpi'wft ?4Hl(prtable. iiWtMfi N W f ref-iajf. IM ajsBBlfBBBBC8ara ...;.. J:ii. j North Delawsr street, Indianapolis, Ind, were obtained when the remloti Mutual I.lfo Inturanca Company rein sured (ho Commercial Life Insurance Company, of Ihdana. The book value of this property la placed at 118.000, al though It was aiMensed at 131,020 In 1914 and $23,020 In 1911. The tarly rental la $1100, or four per cent on the hook value. (I) Property on Jarvella street. North Hide, Pltttburgh, Pa, car ried at $1000 and obtained by fore closure of morlgace. The bonds ahown In the above state mept as the company's property were, seen, wth the exception of thoee on depotlt In HarTleburg, rccelpte for which were shown. We are simply as suming these bonds are owned by the company, as po proofs of ownership wero shown. AN UNFAIIt nXCHANOH In the list of bonds owned Is 110, 000 par Capitol Ilulldlng refunding bonds of the Rtata of Missouri, de posited nt Itarrlehurg In tho name of the Union Casualty Insurance) Company of Philadelphia, assigned to tho Pen sion Mutual Mfo. Insurance Company by the Union Casualty lnsuranm Com pany, to bo dfllverod to the 1'enilon Mutual J.lfa Insurance Compapy when tha said bonds arp released by the In surance Department (A copy of the assignment Is herewith attached.) Tha explanation ot this transaction as given your examiners by Mr. Thomas Wood, secretary of the Union Casualty Insur ance Company. Is as follows: That $10,000 par value six per cent llos well Ose and Hlectrla bonds were loaned to the Union Caaunlty Insur ance Company, which, In turn, borrowed $6000 from the fltrard National Hank, ot Philadelphia, and nut up the rtos well Gas and Hlectrlo bonds, as collnt oral on the loan. Tha Union Casualty Insurance Company then assigned to tho Pension 'Mutual I.Ko Invirancn Company 110,000 par nluo thrco and one-halt per cent bqnds of tho Capitol Ilulldlng refunding bonds of the Ktnto of MlisOurl. In other words, the Pen sion Mutual Life Insurance Company received thrco nnd ono-half per cent bonds on a par value basis worth lesa than par for six per cent Donus, cm dent on the faco an unfair and unbusi nesslike exchange: nnd It Is respect fully recpramended. that you demand return of the Hoswell Oas and Klcctrlo bonds tq thfl Pension Mutual Life Insur ance Company. OKFlCHnS AND DIRECTORS The following are the present ofllcers nnd directors ot the. Pension Mutual I.lfa In surance Company, vis: I.Tndan D Wood President c-harloa II. Frltch Bncreterr and Trraaurer Dr. J. P. Ulackburn Medical Director It. A. Eaton Hupervlior ot Acente mono Btone Qenoral counsel EXECUTIVE COMMITTEE Lyndon D. Wood Dr. J V Illerkburn rharlea H. rrUch Bamuel II. Nlcnolson William 11. Illlchla DlltECTOnS Lndon D. Wood, Pittsburgh. Ta., date of sh A. Eaton. PltlnburRh. Pn uaipn K. Hmun, inaianapona. Ta rhaties II. rrttcn. ritteonrsn. ' nariea i iiock, jddiiiiuwn - a Ttsalejt area Bnaewtea ahejiriaif fea, hh t rams. qtocki. own1 wera carefully Ined, and conslet of hsnk atock ot two companies, pf Washington, fa. Policy loana and premium note were alt carefuly checked and examined. Certificates of deposit, amounting o $3x49.bt, art) deposits In banks and trt)8t companies in default. The bal ances are not considered good aaseta, and have been deducted. Agents' balances, furniture and fix tures, capital stock notes nnd agree ments are not considered at assets of value, and he s been deducted. v NONLKDOEH ABSETa Interest due and accrued on bonds, mortgages, policy loana and premium notes was. carefully computed. ffct due and deferred premiums on new buslnesa and renewals was taken direct from each policy card and amounts to 71, $72 01. LI4.H1MTIE3 Tha retervo requlrtd by law to be maintained, and aa charged above, was calculated by 11. II Forster, actu- aaaeaj If. ejaa He)-. sa ttnlvjTr ft aaejjaajai that Mia. cMMttr was Mt ta potaeaatwn pf tha teeurltlea naentlenad when tha annual statement tor lH was made and fl4 wth yo(tr depsttraent. Mesers. ohn W netse, L. 1 Palmer and It. L. Hutchinson assisted In this examination. Al the above s. respectfully submit ted. U n. COSTBLT-O, Assistant Examiner. Approved: WM Jr. nONRT, Examiner In-Chief. The Pension Mutual t,1fe Insurance Com pany Is cqely Identified will? ! Contpl Idated lneitpient Compsny, with ofllceii In tha Finance Ilulldlng, Pplladelph.la. The affairs of this company, t was Jearped q. (lay, were being looked Into by tht Insur ance Department ary of this department Tha qutstand ng losses, amoum to $20,631 28, as. charge In abtfya state- Ind Dr. J. I. Iilackuurn, McWeeeport w. ii iiitrhle, xvaefilniion Pa. ' Hon H.nry I Wllaoti rig nun. I rbirlea it nirlf. John.town Pa. If. E. Kuniinan. Polumbue O . Famiiel if Mchoteon Plttebursh, Ta w v, jieaael. ivew caaiic. i-. Pa. W. lleodel. Nw Caalle, A. fifietrr. Johnitov IV. A. itLilepicr. Jameelowp Pa strr. Johnatown, A. h. Furier. Altoono, P IiICIINfJCn IN ONLY TWP STATES Tho onfy other fitate In wblch this company Is licensed lo transact nuslness bcsldfs Pennsylvania is the State of Indiana. Mortgngcs owned by the company are alj deposited with tho Insuranco Commissioner of tho b'(ao ot Indiana, roent, haye tinea been paid There prooaDiy navo uren otner msscs in curred, howoer, slnco Heptcmbor 30, 1918. Tho turn of $139, 35E 69 at charged Is tho balanco of the funds of the Pen sion Llfo poclety held by the Pension Mutual Life Insurance Company at Trustee. Ibe Colonial Trust Company, of Pitts burgh, Pa., Is registrar ot the company's stock, and lta secretary certifies there were 16,983 9-10 shares outstanding on September $0, 1816. nEMATtKS For tho purposo of this examination no appraisals ot real estate owned have been made, or none made of real estate covered by mortgages pwfied by the company. We have also glen tho com pany credit for book value of other as sets, although the market value of said nssets may bo lower. Tho bpoks of tho company show that a cqmmlMlnn was paid for American AuMirapcu Company business out of the funds of the Pcimlon Mutual Llfo In surance Company, amounting to $6990, although It has nevor reinsured said business, nnd haa no connection with tho American Asurnnco Company. Excerpts from tho minutes of tho com pany nro hereto attached When I first vlsUed tho ofllccs of tho company on October 23, 1916, I wns re fused permission to cxnmlno tlp books However, this was no novelty, ns the company had some time previously re fused to allow this department to ex amine them I am also Including In this report a copy of the docket entries and bill In equity filed by Henry L Doherty & Co , of Now York, against tha Pension Mu tual Life Insuranco Company, for the recovery of the bonds purchased by the Pension Mutual Life Insuranco Com pany from, Henry L. Doherty Co, also copy of agreement, or rather excerpts from same, from wl)lch It would appear that the defendant, tho Pension Mutual Dip Insurance Company, agreed to placo tho bpnds In cscrpy with tho Pot ter Ttie and Trust Pompany. qf P(tt8 bureh, Pa, unlit dual determination of the unit. In consideration ot this agree- QUICK COMPENSATION URflKD Insuranco Companies HandInjr Bncft Business Must fla Perfectly Solvent, Chnlrmnn Mnckey Says Insurance companies must make prompt pajrnents pn awards granted by the Work men's Compensation Board and must ha Perfectly sqtvent, so a ,po)lcyhoder rnay hara tfce tjswrttc fW VhfeH 11 TW statement waa made toelay Bf ?n7 Mackey, ahalrrflarj of tha pompenaMlon Hoard, while defining tha attitude of that hpdy relative to the psu,rance companies. He satd: . Tha only matter of vital Interest to us lha tha Insurance carrier be, financially strong enough, and that thq rating board fix tha rates so that tha carriers can pros per, for wa pannqt expect an Insurance company to carry hasardoos risks without a fair profit . , , 'Many employers naturally aro looking for a chesp rata, but tha thing to do Is to Inquire whether tho rata Is an adequate one, because If not tha carrier cannot aur vlve. Thera ought to ba plenty of com petition. Tha compensation law has created probably $19,000,000 worth of new Insur ance business In Pennsylvania. No ono desires thnt tho State Fund monopolist this business any mora than any other com pany. Thera shpuld ba a fair field Wt" no favors. . , "Wa ar very carefully watching how each cpmnany meets Its obligations and tha promptness with which awards nre paid and thP spim dlsplaicd ,y the ar( put carriers tnwn'A the employes. Vve nro Interested In scf.wYly and prpmpt pamcnt only." MAMHAU. FOR 7YAK TSW Vice President Somewhat Peevish In Beforc-Brqakfast Talk CHICAGO, Nor- ll-Thomai "'! Mr thall. Vice President of tht Unl States, wat-sllghtly peevish today when reporttrp sought to Interview him at the homa of trlendt In Kvanstown. What'a tha matter with you reporters, aiswr M atnI rstfttr, -1 j Tlpt wl ew rfl l"i if. aH 1 ntq PIS praajMiiav H' nt nt , i looked resigned and within a few pit cysiornarjr iraq iurqor -was, In tHaaa 1 The Vice Prealdent said that h 4Mg" bit fatigued, from tha campaign, as4 w ' plan for lmmedta atrenMoiitr mT, l.l.il a n.A lnimltna.1v trtnjt .. - e IVi atlartlnn anil Kaifl-.. ... u. ... ,. ..aFu lal should ba ona presidential term of year. ciitaiMmicniiiiivxii Just Great! Deerf opt Farm Sausage with hot buck wheat cakes for breakfast. Farm at Southborough, Mass. iivimiinniiMmi!!iiiiiiinira.iDiiiiiwiiB Thresher Bros. Specialists in Silk Fabrics The Specialty Silk Store 1322 Chestnut St. No Trouble to Show Goods NEW Silks, Velvets, Velveteens, Broadcloths, Silk Waists, Silk Blouses, Chiffon and Georgette Crepe Waists, Silk Petticoats and Kimonos Wo meption beow but n fpw of th,e many values offered: 36-inch imported whito Japanese Habutni wash silk (hand woven). 7C,, Retail Value, if 1.00. Sale Price I eJC 3C-inch blnck satin mcssalinc. Retail Value, $1.25. Sale Price QP 40-inch taffeta radium in both street nnd evening shades, plenty of white nnd black. Retail Value, ?2.G0. Salo Price 42-inch all silk chiffon velvets in colors, plenty of navy blue and black. Retail Value, $ 6.50. 54-inch chiffon broadcloth, in street shades, also black. Retail Value S2.50. Salo Price SILK WAISTS CrcptL,do chine waists in new models, colors flesh and pink. Special nt Embroidered, beaded and lace-trimmed waists in georgette crepe, colors, white, flesh, navy and black. Special at SILK PETTICOATS Taffeta silk petticoats in changeable effects. Special at $1.95 $4.95 $1.75 $2.95 $4.95 Satin mcssalinc nnd taffeta silk petticoats in a Jlno of colors, plenty of whito and black. Special nt $2,95 $4.95 NOTK You are cordially Inrlted to call and Inspect pur line whether Ton wl to niirchnee now or not. No trouble to enow gooila and rat aamplee tor cnmpqrifqn, ,i np.irep. Whble salc prices on all our merchandise. Thresher Bros. 1322 Chestnut Street Itoiton Blot. 40 Tepjplo Flare Mail Orders Promptly Filled Tli Thirteenth Street S,hop Where Fashion Ralgna! Imiaidoms Thirteenth Street Just qciow Cflctnvt A Wonderful Sale OF, Evening Wraps AND ,, Afternoon Coats 4 A special purchase of the stock of oqc of Pew York's most famous importers and manu facturers, including absolutely original adapta tions of the finest imported models. Created in tho most fashionable fabrics in the favored colorings and all luxuriously trimmed with furs, metallic lacc$ qnd embroideries, beautiful beyond description, while many of the models have never before been shown ij Philadelphia. A most unusual opportunity to secure an ultra fashionable coat at about One Half Original Prices Evening Wraps 55.00 tp 185.00 Former prices $110.00 to $365.00 Afternoon Coats . 57.50 95.00 Former prices $85.00 to $195.00 X tre Jhw Jheje$u Oiitcf MotorinqJ L r I Ml I By all meaivs INVESTIGATE tiie New Type 55. Ei3t Cylinder l -i Standard of the World "The World 3 Greatest Road Carn )V Eleven. Model? Aufomobife Sales CtoVporation ,. "i't ZfSt i vl I V If fi , KktSS alfek .. sum " 1 y ... - " 'IT i ii ii mi ejjjffaW-f9W
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