Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1869-12-17

twenty years OF age, compare the E4ulta-
BILE at nine, viz: assets, 7,721,077 o.
amount at risk, $112, $50, 223 policies
written during the year, 1896 amount
of insurance written during the year, $51,
$40, 157 46. comparison with any one
of the older leading companies would ex-
hibit the Equitable in even q more fayora-
BILE light, as in amount Of business it was
year by year far in advance of the relative
years of any other companies.
The following figures, taken from the
reports of the New York Insurance De
partment, exhibit the business of the Equi l.
table as compared with that of all other
companies operating in the State during
1868. Average number of policies issued
by all other companies, $3.50 issued by
the Equitable, II 1856 average amount in
sured, 1O,827, 1867 insured by the Equit-
able, $51, 891, 1875 :; average total income,
81, 800, 985 ; income of Equitable, $3.50,
1877 average total assets, s., 337, 852 as
sets of Equitable, $7,721, OFT average di-
vidends paid, $241, $50 dividends paid by
Equitable, $849,979. Compared with the
business transacted by foreign companies.
the contrast is still more striking during
1868 the Equitable insured very nearly as
large an amount as the aggregate of all the
life insurance companies Of Great Britain
combined
| A remarkable feature of the business of
the Society is the large average amount
insured in its policies, largely exceeding
that of any other company in the world
This average in 1868 was 81, 800, the aver
age of all other American companies rang
ing from 81, 946 to $685. This large
average amount insured in the policies Of
the Equitable is due to the fact that wealthy
men, as a class, take policies in the So
ciety FOR PURPOSES OF INVESTMENT to G
greater extent than in any other company, a
fact that has a remote but Important bear
ing upon the low rate of mortality among
| its policy-holders, as it is evident that men
who are able 10 carry large premiums are
not likely to he compelled to remain IN the
vicinity of epidemics, and that in all cases
of sickness their medical attendance and
care will be the best
That this immense volume Of business
has not been accumulated by the Equitable
at any sacrifice Of economy in manage
ment, or want of sound discretion in the
selection Of risks, will be seen from it's low
percentage Of Notwithstanding
death claims and expenses, but exclusive
of profit dividends-to cash premium re-
ceipts, and by a comparison Of this per.
centage with those OF other American
companies. This percentage in the Eqai-
table has been triAe over 81 per cent,
the smallest percentage of any other com
pany being over 43 per cent, and the
figures ranging through the entire list
from this point to 50 per cent. 1t is
worthy of remark in this connection, that
of the tifty-two persons who constituted
it's first board of direction, thirIy-nine are
still members of the board, aad that
during the first decade OF the Society's ex-
istence, but two directors have been re-
moved by death.
II amount of insurance il; any criterion
of popularity, no company in the world
has ever within the same relative period
experienced such degree of public favor
and confidence. The original force of two
youthful clerks is how represented by
corps of some sixty gentlemen, exclusive
of officers and agents, now required to
transact its current routine business It
has outgrown Its offices, and any accom-
modations obtainable in any building at
its disposal in New York. AS it's first de-
cade approached q close, greatly enlarged
facility became thus an unavoidable neces-
slty, and the erection of the Society's new
building, now nearly completed, on the
southeast corner of Cedar street and
Broadway-a building which for massive
grandeur and general fitness for it's pur-
pose is probably not surpassed by any
commercial building in the world-marks
the elimination of it's substant ial triumphs.
This structure is an elegant specimen of
the renaissance style of architecture, SD
generally used by Baron Haussman in the
embellishments Of modern Paris. Its front
age on Broadway is 81 feet, aud on Cedar
street 1877 feet. The material used in its
construction is Quincy granite for the
basement story, and for the rest of the
building white Concord granite, the no.
blest possible material for SO large s:ruc-
ture, giving it a grand and massive effect.
The approach to the basement is through
the central entrance on Broadway, the
stairs to the main floor starting on
either side of the doorway, virtually
throwing the basement rooms into
Broadway, and thus giving them an
Increased value. The first or princi-
pal floor is 10 feet high, and contains three
banking rooms, which are to be fitted up
in the most complete manner, the largest
being 32x100, and the others each 3Ox55.
Over this are the offices of the Company.
The grand business hall, which, when fin
ished, will be one of the most imposing in
the country, is 26 feet high, and 25x1O5,
lighted by two large skylights and through