, 1869-10-07
the EQUITABLE LIFE
Assurance Society Of the United
States,
At tho Close Of it, First Decade,

kG& 3A3B ME CAN Afp&AL2A mo OH D3l&Q4H
cphesA A Lays nu@beF OF men combine. TO pAy
yearly. o. n shortef periods, = snAn sum each 70
form fund oua Of which shs REPRESENTATIVES, OF
each deceAsed member shall receive stated tsrrer
s0In. The imnutahls la0 Of aysfaSea detssuinss
the nutonef Who will dSa Within given tic1c. sud
adofda 1xed and eASe h&s,s OF ca1cul4t1oq. Tns
individual l. thus abte, practically, 70 extend his
LIE 10 ths ayesags Duration of npaakind, IN secar.
ing 10 hts family aud dependents. with masasusu.
esl certainty, sac full rccuniary boneat aud mp.
port which would result to them wesp his acsire
lie thus really prolonged. and TO receive the 10.
tuAl bcnent OF luAt equalization Of psvpest,.
Tho sndden and unprecedented e1iene,oo Of tna
fyfem u reuntsola tact N tho
hiEtosJ OF modern ayt1ixahon; lu
the dincuiucs cncouutesod, and the
Victories achieved Ia IT. origin and development,
IT rirAls In Interest the RseAt material utpmphs
which arc 10 constAotiJ toe subject OF our adulz.
Lon Th,s IL remarkably cxtup1tded IN the hla-
tory OF the Equitable lite Assurance Soctety Of
the United 6tsteR, ~hich has just closod its nrrt
decade, n 'H marks and dlatthRui1nes. ssyz the
Superintendent Of she New York Insurance De-
psrtnctt, "the comuenceEent o! tbe recent Ii
founding progrcas In the batincas Of l!to iusuz+
apce."
Ten yea1 ago there were than but I've iifc In.
su1Ance companies erlslroK IN the State OF Nex
York, xnd but two Of these werr tasolug p3llciea
exceeding one thousand in number por apnutn.
The rcE Insurance Department Of the Stale had
tuas hecu crraiod hE act Of ieztM&ture Slx
yrar1 had eapaed aimee the p1xaaEe Of the act for
The Incorporation OF ltfe And health insurance
Companies, and not ouo, a. yet, had bcea organ.
ized undes itA liberal provls,onk Bat
little enterprise, comparatively, wa ex.
hlhited IN The onatness, and II Wal tnEt tho tine
tur tne Adsept Of coDpxnJ which. u IL thersl
policy and ,.grrona action should tnauRursse >
lie ore.ns,o11 q III oi The Eqa,tsole dersrmiasa a q
found. Teu 3eArB aVo. howcFcr, new compaufe1
could COL u nov, start suddenly into fulLnedgrd
e1tsttoCe, with uARhinceot xpsftmentA kad 4
full corps OF h!gbsa1ar1rd of1c1als. 1ndesd there
Ma found gr~at titfllca!sy IN getting even the
required u he deposItsd xiIb the Insurance De-
partneut u security for the pRsmeus OF clalmS, l.
d11culy not asising from any objection to lutat-
lIoxh to Be profitable Kind ot invesrmens, sui
because It WAS determined that In. tue orK4ulx2-
uan OF ue~ con pauY ia stockholders anould r.,
eIs.rpse M ssoua ~ At he aa re-
The onetsstoss OF tee Equitable h+1 Aiso wisely
resolved to col nect win lite Organization only
Lencvoleht circles, ~ II the stability VI the con.
parry. Ike thai Of mechanical Structure which Il
10 stronger :hAn its weakest part, we're to be de.
pendent upon the reputation OF etch tudirid1n
lHreetAe. The dItncd.ty OF enlittn3 4 lsun1c1ent
nun'ter OF men Of eucn cpAsactEf IN s
project *hose suoceea WAS problem aLcal may b.
lpss were held by rhose VINO io!ued the enterprise
tn ifR IhctpiencF, dbd hers 6ff0a% e6oEtx wert
made 10 divide II least ten per cent Of the pront.
amobg The stocShaiders; aRalnsl this Proposition
NIL i1Ttner pSoceedlngs we're promptly aud sue
cefbtuuy htakcd; tue nex comf&nJ should cxls,
a. ee,esoen instisuso r.. tie eeaent et tae
the benefit of stockhoi1tea-ort It sdouId hsrc uo
existence " all p.E'1rA sHrortux such dIspo.t
naner. and toe sub.cs1o,lou, which had REACHED
the Autn Of 3saI00, recctet 10 80 600. With
pseAt s1estioss tals sun waa tue1c ssed TO about
csrnc 10 he neip cr ihs arux9'In9 enterprise, ad.
vanctnV ole son- teh required hatance- Tne OF.
Esn'xsSn1 Of ! tn1 ,ss sou2ssSy way cnapstea .!
President. ME- nenr! T. H5ue ~ fice President
md Mr- George ". Pa,1:ips - Actusvt- AT con.
Lscsed D. ~iLo II eh1:rprsse .nd none NOR
recognized lbe salne 10 the COMPANY ot Mr. AZ
e1ahaet'4 name aad influence H. was descended
IRON one Of the o!nc.t families Of Flsglnls, va.
tie son Of thc late Ree. Ut. Arcaloaid Aie1aadrr
OF rTtcetuu. bad pEa>lAed over Ine Senate Of the
Stsse Of New jersey, ard Has ~tlsly Known aud
The ncH aoc!tty III tnrErucc which nIouc Wouls
inspire confidence IN IL s:aottitr, and IN tac il
aisdd.,ed troa n.f1as unss4s,.y sap' snme yes1 ~
betott, tAklnR the ulguest houora OF tue instIsu
rou. ano, a time has shown. Nas eru'aenily wei
MI. Js1oes ". Aisxsuder, of Sew fork Ctty, VI
subsequently elected 70 thc posslon of Secretary
aud WEE Identified With biz astoc!a'e ia ri! thos
plaza which 6aVt carried the Equitable to Its ut
c2anpled height Of prosperity.
There WIS Strong el1nrt nHde when the com
ao1 M maA ,ln ID ri. ri e3, 70 t
ot1cers of the conpauI being ttrtnuoualy opposet
70 what they considered the thhe!ept defects 0
this ,, stem 1t Has m14 * t"rE1Ined thAt the soca
CITY shuuld etart eostst nppu IT. merits, and no
upo1 AR facttio0s ea.sla, sach as nkgrtdcen
building a!oce eontd be. Knons acre, therefore
taken II No. ~ Dto-d ~Av, Vt low rent and OF
ten ycarsf 3esse+ aLulhcr fortunate operation to-
the new comnnp}. rs nj The expiration OF tos
lease the rate haa advanrrd ioar folt: and b ere
with tWu Mtrc Lads for cleric. each upon A1latJ
ot Que hRndEed aiulrrs-tsJih OF whom now prI
fofM important An1 vAlual.c tlutle1 IN the cotn
Esai sessse.w. r e., a. y, sx.ens. tot rent sas II,
not altogether exceeding uve thousand dollars
but ~itnous dollar IN II tre,aurr, aud with Ia
se pfssa ~ ~ ~ ss ae sSSs
1usuEnueo Department tue ne~ society starls
on ita career Of uscroiue.s and honor.
sacn beRlnn1nF. til popular view, might b
cnnMde1ed ~ no ueaus brilliant one, aud thes
dctAua would po+seAs 90 Interest but for The con
1ssss anornesi III The unparalleled success Of tn
society at the c4O6e OF tta orfi decade, 1t will b
ofxetTtd, however, 1hat lts fduudattons wesu lat
u brosa and l,tesat rtllclplcs: its primary ldes
The c"ttd-bce a. the p',hlc IN ntu wnose E,
tAbl'shed rputA'1on. pavilion, And sklN offer ID
highest xIarant.e thnt Hacred tr1ists will be Aai
In thclr hapde: it, p.su OF Insurance, the uuuaot
one OF c9ultaol, di',ti1s oil Of tne profits anon
tue as.ufett. Cpsn snca a pasis the soclet
rr missed 10 he nothing less tnan a gran
ma uxl bcntso}-.nt Institution, Ia which Lbs 1t
and policy. hnldeTs were 1deuiieai mi tue fe
Jears cafrcr df the Equttstfe has ABUNDANT
5utuned such theory Of its 1rR Ans1atson-
IL int policy; u wxs for ten thousand du1lat.
lie partI lLkuted I. SIN Using snd the policy
stAi r. ~ 'otce. nnrtne tho remaining i've month
9,.t;aoo0. ard a1Std.n: premium rrcxyn
e ~ ~ an anount Of -, 7.o q The prosse,
hct reth1sablr. tut with tic business
~. beNna The grand advance IN whIc
t''- ngurrs Of insaranrc rnl.d up during cac
7 he euIil injured III 1s;l saX f5,Saa 80: Ia lsf
tt:o ,No: IT lse4 <s,.:s,ss,: n 1S1a tl31lS6s
- 1sSS sso's -: in lsss. sts.4aa Ioo; in ise
Ore striking as showing the rrlatave rArk wh,c
REV gave the company racn aucce4styc rear l
1s'1, ID an.ount II urw tu>tuess, II vas the Mint
-tnhnc "A rs1t1u rIIITtfs41fcs: In 1851 It WA tn
eighth: in l>6s and 1-f, the seventh: In 1861 IA
lN.t luz tlxth: IN 1sGi the touE1h Ia 1857, th
tint; n Ivy ne .ec"d: ana 1t ,s NOT inpFoh'
Esc That the ciD%e III the current year witt IN, !,
fer a7 0HEt 1s uew tsf,ettc@s tfoue, fAe rlrrata
rt''"1o"r IN fAr irtaif. The hnstueas OF 1875 es
crr.i.ti The total tUne BY the cn1apauT during il
first scxen years trt shose Reten Jears vcrc ur
r7salsl'1 for extent Of hutiH.ss BY the nt.t Aeve
srsta O.! sas existence Of AdF other coupsn]
Nuh1n Twelve mouths over eight millions hny
tsen issue4t in a Ans,a month, tsr mere taan ID
tnctett insured dur1oE Tia arst threc AMI ha
.cntA l's nstcsK u o* feach the ROYAL sun Of t.
sat,sns ~. y dItarf. and It's ae1tlY Income u no
The wondrifui proafres Of The societ5 mar h
tno~n tn auosher way. In lisa, three leArA asta
ttt osEautzata0u Of toe Equitable, tho Mutual u!
1u-ufance Company, one Of The oldest OF th
prp1nluenl American cnnpsutes, had been IN a
7xs: snoa1, 4 r.-k. ft7oal ;oa; po'teiss a.ue a
during the .eA1, $50; Hraonns q !nsafance VII
tsn during tbe ssar = 81 S1s ts:al Income Il
twenty years Of age. eompafc iae Eqaitslae
ming, VIZ: AfsetA s7,7sl, o77.os: amount st fls
1864. uf WY7 an -
yr4f. .e93s total tncoEQG fot the year Il
lns.tt, compaEitou With my nne Q. 1hs Oil,
leading COMPANIES wo,l1d exhibit the Equitable
cstn more favorable l:Ea1 Is IN amount
bosncas It Nxs veat by year lar IN advance OF u
Trlative ysars Of any other compsny.
~, lne lo!nsinS nxuns. taken iron the report I
tmS:hcsss Of The Equitable ~ cam narsd with thi
o. al nshcf companies orerst.pR Ia the 6ta,
anS a' is Asssrss na3ssf o. po,s.ss l1sas
tslae. .s; 1versEe amount Insured, $lo.ss7,s61
issued hy the Eanttah'e. t5I,s9I, SIS; Arnsac
,S4A1&: aEetsee totAl as*ers s., ,as1, ,ss9: nssc
q @ - .ttahle. ts..st,o7i; average dividends pal
Compared with tue bns'ness sans1cte.l n1 iorce
conpan,eH- The contract Il stti more str1GtuH: d
l!nR lsss The Eaa.ta"'e sa.ord resy nearly 81 as,
an amount ~ the aggregate OF al tue HE l14
rance companies OF RrrAt Britain combined!
A rrmstkable ftssure OF the huHness Of the .
ccfy IL the lsrGe average amount injured IN
3ainc'ef, largely = 1ceedl' that OF any other comp
rs In tne world THIS average In 1865 Was 9tss2, Il
arEtagc Of iii o.hcr American companies sanxi,
It0m xis36 to $aha This large Average amou
tp.ar.d d ~ the policies Of the Eqatca DO il duo
tee Isct that wealthy men. as csasa. take poltca
IN me tocteiY toT tnt'l'oa<s q far<aM<nt, 10
EsTAier extent than ip any other c7tnpahy, = IA
:!sa' ha* = rcmotc, but Important bearing up'
1Ar to* fate Of mon atty atnoug IT. policy holder
ass II c8hleat s6at 1uru who kru aolo to car
fsrcr premiums are not i;kclr to be compelled
rtfaa'u IN tic stctnItJ Of cpidrtotcs and snat Ia
caIts Of stcADess thar medical attendance NJ
CARY H1fl te The hett
nat ibis immense volume Of Business naa NJ
n en- Accumulated by the Equitable 1t any sAcr
ice Of fconusOF in uAuA7eneut o. want or S0pl
ttiAc1etioa IN The sele:-an Of r1sks. viii ps 8ee
from ~ low perccnts2e Of expsnditufcs-incla
itR 5eata efai % anu expenses, but exclusive
f,En r4+o r.