Show FINAL REPORT HAS BEEN MADE new york life trustees investigating finishes work new york jicy 2 the special committee of the baird of trustees of the new york life insurance company appointed 1 1905 to consider the evidence submitted to the legisla tive investigating committee and the report of the fatte commissioners of insurance dhove re then examining the companas comp anys affairs made its final report to the oard ot trustees today the report lylac is a comprehensive one deals condition of the company the work of the ft nance committe the method of conducting the business depart mental work expenses foreign busi ness deferred policies and various miscellaneous mattera matt erg under separate heads it is signed by thos P fowler norman B ream hiram R steele A 0 and clarence H machtay Macl tay afir reciting that the special committee held and availed itself of every source of information concerning the affairs of the company the report says i it therefore feels that it has left nothing undone to enable it to deter mine how the business of the company in all Us departments has been conducted and to aut hortatively on that subject the report then submits the balance sheet of the expert which in part frays we liace verified all the assets of the company and after providing suf reserves for possible losses find that on december 31 1905 the total assets amounted to and are fully worth that sum we have tested the clerical accuracy of the insurance reserve as certified by the of the company which amounts to and exceeds that required by the insurance department of the state of new york by the sum 0 and having made a provision of fo r all other liabilities we find that there was on december sa s1 1905 a balance of available for dividends on participating policies including deferred dividend policies at the end of their several accumulation periods an d for this balance exceeds that claimed by the company in its annual aport for 1905 the general administration of the company is well organized its management is sound its business methods and system of collecting premiums are effective and economical and its books and records are well and accurately kept the report reviews the work of the finance committee of the new york life insurance company now composed of john claflin edmund D ran wooda iry langdon george A morrison alexander E orr and D P kingsley this committee the report says meets twice a week and a subcommittee every day and upon them it adds is imposed the task of supervising and directing the investment of from to |