The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1877-04-20

WE take pleasure in quoting entire an ed-
toral taken from the n. Y Mail in relation to
the triumphant issue of the recent examina-
ton OF the Equitable Life Assurance Society.
After publishing the reports in full the edi-
tor says that the reports the Superintendent of
the Insurance Department and committee Of
policy holders, made after most thorough ex.
animation of the Equitable Life Assurance So
cety, are now before the public. 1t is simple
truth to say that no life insurance company has
ever before been subjected to such complete
and exhaustive investigation. Everything has
been done. and nothing omitted, by the Iusur-
ance Department and by the committee, which
was necessary to present what may be called
an exact photograph of the financial condition
and official administration of this great insti.
tuition. And the result is given in full, frank
declaration of Superintendent Smyth that the
Equitable possesses nearly $32OOOOOO of as
sets, of which some $5,00O,00 is surplus above
liabilities, and bulwark for policy-holders
against all possible contingencies of shrnkage,
loss or other element Of insecurity. TIE have
gone through such an ordeal in this triumphant
manner is glory enough for any institution, and
in the case of the Equitable, whose wonderful
career has made it the shining mark for so
much censorous criticism, the result of this
doubly searching examination is kind of tri-
umph such as not only honors the company it.
self, but must greatly tend to re-establsh the
life insurance system in the confidence of the
public. We have no need to call attention to
the statements and figures of the documents
printed. They speak for themselves and will
compel the candid consideration of everybody.
There is fullness, frankness, an exhibition
of true inwardness about the exhibit which
challenges admiration and must compel popu-
lar confdence. And that such will be the re-
suit there can be no manner of doubt.
The fact that the managers of the Equitable
have courted the most microscopic scrutiny of
everything connected with the compapy's con-
dition and administration is in itself. an un-
answerable argument in favor of the institu-
tion. The further fact that the company has
SO we'll stood the test is enough to silence all
cavil and put an extnguisher on all mischiev-
GUS antagonism. No company in the world
has through all its life occupied so prominent
position before the public. mo company has
been made the target of such continuous crit-
cism and such malignant injustice. All this
makes the victory more signal and consplcu-
Gus. And the great body of life insurants,
everywhere, may well rejoice in the vindics-
ton which the Equitable has extorted-since
its solvency and sterling character are now
placed beyond dispute, Its enemies themselves
oeing judges And what the Equitable has
gained, life insurance itself has also gained.
1t should be cause of general rejoicing that.
as' one by one, our leading life companies are
examined, they are found to be just what they
claim to be. All sorts of wild ALLEGATIONS have
been made, but.few,iif any, have been proved;
all kinds of antagonism have been brought to
pear upon them, but they have stood firm and
unshaken. AS compared with every other
business and industry, life insurance has come
unscathed and unscorched out of the furnace
OF tre through which, for three or four years,
all nave had to pass. Let us be thankful for
TINS bright spot amid the prevalent gloom, and
wnlle railroads have collapsed by the hundred,
and savings banks gone down by the score, and
business houses gone up by the thousands, let
Us recognize frankly the essential soundness of
tne lie Insurance system, which has SO nobly
STOOD the stress OF a storm so widespread and
SO disastrous in other directions. To do other
wise would be an abandonment of common
fairness and a turning of the back upon COM
mon honesty.