The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1877-04-21

Cash on hand, in Banks,
and other Repositories,
on interest. ............. 1,269,3164S
Balance of Agents Ac-
counts. ................ 17s,545s "a
= - so,41e,7ls 90
and accrued. ......:..:. s34s552 95
Premiums due and in
transit .......... 800. 157,46O,OO
Deferred Premiums $50. 67O,sI6 90
Market Value of Stocks
over Cost and Premium
on Gold on hand....... 14O,385 Sc
Total Assets, Dec. 81, 1876. go. $3l 734, 1884 Al
Total Liabilities, including Reserve for
relns urance OF all existing policies. 26231 14 90
Total Undivided Surplus over
Total Liabilities $5,5OS,79S Al
Computed Undivided Surplus on Tom
tine Policies over legal reserve..... So POI, 500 90
New Business in 1S76-7,39 Policies as
Outstanding risks 17s S5S Sao M M
From the undivided surplus, exclusive Of $500 900
reserved by the Finance Committee for contingencies
Reversionary dividends will be declared available on
policies.
made on the American Experience Table, the legal
standard OF the State of New York,
GEO. " PHILEIPs,l Actnares
The Report of the Superintendent of the
Insurance Department of the State of New
York (made after an examination into the con-
diton of the Society, which occupied the CHEZ
Examiner of the Department, with ten of his
accountants, nearly three months,) concludes
as follows:
'.The examination has been of the most thorough
and searching character, and the Superintendent be-
ness has been subjected to severer tests than this
Society has, nothing having been taken tor granted,
but every item, both Of assets and liabilities censci
rufi NJ
plish this force of ten persons under the Chief
Examiner OF the Department, has been steadily en-
emit is much gratied at being able state that the
result of this investigation shows the complete SOL
yency OF the Institution; and that if the same
energy and ability are displayed in its management
and conduct from this time as in the past, career
OF solid commercial prosperity is before it,
John F. SMYTH,
Superintendent.
The Report of Committee of Policy
holders and Representatives of Policy-holders
latter an examination extending over period
of more than two months, assisted by full
corps of experts and accountants) concludes as
follows:
"The business of this Society has been conducted
With ehhe sgy ability and system and its Unparalleled
does nearly 1872 600 900 assets and about $1,000 900
surplus profits, according to the Socetys statement
shows uncommon industry and vigor on the part of
its chief officers and directors, and in the opinion of
this Committee, places the Equitable Life Assur-
kind.
ALI of which is respectfully submitted"
E. D. MORGAN,
c MM A MsEs sTK R B SsEkg gEssup
G G. FkASck Ii MSS +; D. D. T TEsyN'
The fnll Report of the Superintendent of In
surance, and the full Report of the Com
mittee Of Policy-holders and Representatives
of P0lIoV-hOldar9 haVn hQan pript;ad in
phlet form, and may be obtained by applica-
ton to the Society or to any of its agents
throughout the United States and Canada.
The following is the Report of the Finance
and Executive Committee of the Society:
The thorough investigation into the affairs and con-
diton of the Equitable Life Assurance Society by the
Insurance Department of the State of New York,
and by Committee of Policy-holders and Repre-
sentatives Of Pocy-hOlders, has not relaxed in the
slightest degree the customary examinations by the
Standing and Special Committees of the Board of Di
rectors.
In presenting the Report of the Society, for 1876,
the Finance Committee state that they have during
that year given much attention and labor to
the consideration of the system by which the business
of the Society is and its expenses regulated
and have directed the enforcement of all rules
and methods for bringing down the expenses OF the
Society to, and continuing the at, the lowest
standard consistent ah the greatest efficiency in the
administration of its affairs.
The undivided surplus fund Of the Society is much
larger than is requisite for the continuance of dvi
uenuS 10 pOucy-nOlQerS WITHOUT Q1m1nutl0n, ana IN
order to guard against even depreciation
in Investments the committee have
RESOLVED, That eight hundred thousand dollars of
the said undivided surplus be withheld from division
among until the further order of this
Committee, of the Board, to any possible loss
arising from the value of real estate and other secur
ties.
The Equitable Life Assurance Society has, during
the past six months Ia period of unexampled depres
sion in business and nance), undergone, through its
own Committees the Insurance Department OF the
State and holders Committee, examinations,
for thoroughness Of detail and scrutiny in all depart
ments of its affairs unprecedented in the history of
corporations.
GEO. T. ADEE, GEO. D. MORGAN, Com
JAMES LOW, H. F. SPAULDING mittee
PARKER HANDY, II. A. HURLBUT, + on FL
WIN. H. FOGG, j. A. STEWART, J nance.
Board of Directors.
HENRY B. HYDE, ROBERT LENOX KEN
GEORGE 3 MORGAN, JOHN D. JONES,
HENRY A. HURLBUT, B. WIILIAMsoM,
H. G. MARQUAND, WILLIAM WALKER,
a.F. sPAGLbING, JosEPH saLiGMAN,
JAS. W, ALEXANDER, BENJAMIN E. BATES,
HENRY S. TERBELL. lASHBEL GREEN,
THOMAS S. YOUNG, STEPHEN H. PHiLfL1ps
ROBERT BLISS, H. M. ALEXANDER,
WILLIAM H. FOGG. JOHN j. DONALDSON,
DANIEL D. LORD, GEORGE g: KELLOGG,
HORACE PORTER. SAMUEL HOLMES.
SIMEON FITCH. JOSE F. NAVARRO.
e. w. LAMBERT. W. WHITEWRlGHTJ R.
b. F. RANDOLPH. JOHN j. MCCOOK.
ALANSON TRASK. THEODORE WESTON.
PARKER HANDY. ALEXANDER P, IRWIN.
JOHN SLOANE. D. HENRY SMITH.
JOHN A. STEWART. IT. DEWITT CUYLER.
GEORGE H. STUART, VIM F. COOLBAUGH,
j. W. ALEXANDER,
Vice President.
SAMUEL BORROwE, Secretary.
E EDwaRD ": LAMB Be M, D., Medical
IL. w. SCOTT. Sun't of Agencies