The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1877-05-13
Total Undivided Surplus over

Total Liabilities .-...........S Sc, 500, 7o3 IL
Computed undivided surplus on
Iontine policies over legal re
6Crye..... -, 1Jl 800 o.
New business in ls1o, 1925 poli-
ces assuring 81 1D 81 o.
Outstanding risks................ ia $50 tyu "
| From the undivided surplus, exclusive of
sSuh, Goo reserved by the finance committee for
contin agencies. reversionary dividends will IA,
| declared available on settlement of next annual
premium; to participating policies.
The valuation OF the politics outstanding has
been made on the American Experience Liable
the legal standard OF the state of New YORK
GEo. ". PHILLIPS, ,o,,,t
j. q. VAN CIsE. A''Oiies'
The report of the superintend ent of the insur-
ance department OF the state of New York
tina lie after Gu examination into the condition
Of the society, which occupied the chief exam
iner of the department, with ten oil his &C
countdnts nearly three mOnths,) concludes az
follows:
The examination has been the most thor
ough and searching Character, and the supern-
tendent believes that no corporation doing an
insurance business has been subjected to sever
or tests than this society has, nothing hayin2
been taken for granted, but every item, both OF
Assets and liabilities conscientieusly and ex-
haustlvely scrutinized. To accomplish this a
| force of ten persons, under ths chief examiner
| of the depaTtmg Mt, has bee'l steadily engaged
| for nearly three months. The superInten ent
is much gratlied at being abb, TO state that the
| result OF this Investigation shows the complete
sOlyency of he institution: and that N the
! same energy and ability and display in lis
! management and conduct from this time, ms in
the past. career Of solid commercial prosucr-
lty Is before II. JOHN r. sMYIH
superintendent
Tho report of a committee on policy holder,
ana representatives OF policy holders Gfter an
examination extending. over period of more
than two months, sisted by full corps of
experts and accountants) concludes as follows :
The business of this society has been con
Quoted wi ability energy and system aId
its unpara leled growth since incorporated in
.sj9, counting, II us il does, nearly S y 90 900
assets and about 5000, 600 surplus profits, ac-
cording to the society's statement, shows I'M
common Industry and vigor on the part OF I,s
chief officers and director, and in tie opinion
of this committee, places the Equitable Life
Assurance society in the front rank OF the in.
situations of its kind. All of which 10 resp,ct d.
-''' az d Morgan.
Vim A. Wheelock' = b sherman.
Charles : Smith, Morris X Jesup
Cornelius y. Bliss, j. NJ Morrison,
&. O. Franckiyn, +. ID. IapIen -
The full report of the superintendent OF in
surance and the fullreport of the committee f
policy holders and representatives of policy
mol ers, have Teen printed in pamphlet form,
and may be obtained by application to the So
ciety 70 any of the agents throughout the
United states and Canada
The foil wing is the report of the finance and
executive committee Of the society.
- he thorough investigation into the affA ir.
and condition of the Equitable Life Assurance
society by the Insurance department Of the State
of New York and by committee OF policy
holders and representatIyes.of policy holders has
not 1elhAeu III the tllEHtebl utEles Inc cuhtO-
mary exam nations by the standing and special
committees on the board Of directors.
In presenting the society, for 1876, the finance
committee state that they have during that year
given much attention and labor to the considera-
ton of the system by which the business of
thd socioty il conducted and its expenses regu-
lated: and have directed the enforcement Of all
rules, and methods for bringing down.the ex-
penses of the society TO, and continuing he
same at the lowest standard consistent with the
grertest efficiency IN the administration OF its
affairs.
The undivided surplus fund of the society S
much larger than is requisite for the continu
ance OF the dividends TO policy holders, with
out diIninutiOn, and in order to guard agans
even unexpected depreciation in investment
the committee have
Resolved, That eight hundred thousand dol
lars Of The said undivided eurplus be withheld
from division among policy holders until the
fl ther order Of the committee, or of the board
to cover any possible loss arising from the val
ue of real estate and other securities.
The Equitable 4 life Assurance society has
during the past six months "a period of uneS-
ampled depression in business and 1nancel, I'M
dergOne, through its own committees. 1.-The insur-
ance department OF the state and policy holder's
committee, examinations, for The thorough ess
of detail and scrutiny in all departments OF its
affairs, unprecedented in the history OF corpOr-
alton
Geo. T. Adee Geo ID. Morgan Com
n n O..