Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1877-05-04
M A Y 4, S77.


HENRY B. HYDE President.
For The Year Ending Dec. IL, 1879.
Net Assets Jan. l, s27 c17 $50 81
INCOME.
Pr'miums......-......-.s 7,5Ii,IM IS
Interest anu kents..--. lbs 40 81 s2i2,54l g.
s36.9O,I72 81
DISBURSEMENTS.
Claims by dea tn and ma
tured EndOwments.... 81 200 ODDS 81
Dividends, Surrender
Values and Annuite5 2,g.0 3s7 6I
dividend on Capital. 10000
state County and City
Taxes............. 7Ogu07
Contingent Sinking Fund 100000
Commissions, Purchased
Commissions, Agency
Expenses, and Physi-
clans Fees. 53O,7ss so
Salaries Law Expenses
Postage and Exchange 32s 6gl 10
Advertising, Printing,
Building and other Ex-
penses.- "yi GIG o. 6,5U3, 1872 81
Net Cash Assets Dec 81 1876. $50. 4l6, 7l9 go
ASSETS.
Bonds and Mortgages. SIG, %, 26i Is
Real Estate in New York
ana Boston. and pur-
chased under ioreclo-
sure; ...-.....--...;.. 5,6l5 50
authorized by the laws
OF tho State of New
York.................. 5.COi.Ol56O
State Stocks.......---.- 293OJO
Loa' secured by United
States and State ant
Municipal Bonds and
Stocks authorized by
the laws of the state of
New Yoik.......... 1881 5000
Committed Commissions. l0O.sl965
Cash on hand, in Banks,
and other Repositories,
on interest. ,269 3I6 IS
Balance of Agents Ac-
counts. I7s.5iSs
- $50. ns.7Is %
Interest and Rents due
and accrued. -. .3is,5529j
Premiums dle and in
Transit.....-...-...... Iss,46OOO
Deferred Premiums. 6ap,sl6 co
Market Value OF Stocks
over Cost and Premium
on Gold on hand. 40 3S5 &c
- 3ls2I4 81
Total Assets Dec. 81, ls76...... s3I, 81, 934 Il
Total Liabilities, including Reserve for
reinsurance Of all existing policies. Dc 23l lil %
Total Undivided Surplus over
Total Liabilities. S. ,5O3.7 Oh IL
Computed Undivided Surplus on Ton
tine Policies over legal reserve. S. pol 800 On
New Business in lS16, 1893 Policies as
surins. SIS nA,577 "
Outs landing Risks. $50 go ~
reserved by the Finance Committee for coutingen-
cies, reversonary dividends will be declared avail
able on settlement OF next annual premium, to
The valuation o, the policies outstanding has
been made on the American Experience Table, the
legal standard Of the State of New York.
GEO. W. PHILLIPS, .c,us-iss
J. &. VAN CIsE, n''ua 'e''
The Report Of the SUP er;ntendent o, the INCUR
ance Department of the State OF New York made
after an examination into the condition OF the So
cicty, which occupied the Chief 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
business has been objected to tests than this
Society has, nothing having been taken Tor grant
ed. hut every item, both of assets and liabilities
cunscientiously and exclusively scrutiniZed. To
accomplish this force OF ten persons, Under the
Chi eff Examiner Of the Department has been stead
lily engaged for nearly three months. The Super.
tendent is much gratlied at being able to state
that the result OF this invest cation shows the
plete solvency ofthe 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 pros perty IS be-
fore it."
JOHN p sMYTH."
"SupsrrntendeHt."
The Report of Coz mittee Of Policy holders and
Representatives Of Policy holders (after an eIamn-
ton extending over period of more than two
months, assisted by full corps Of experts and &C.
countants) concludes as follows.
THE business of this Society has been conducted
with energy, ability and system, and its unparsl-
II does nearly s32tOOOO sssets, and about s. Co.,
O'O surplus profits according to the Societys state
ment, shows uncommon industry and vigor on the
part of its chief officers and directors and in the
II arRs fa
Lille Assurance Society in the front rank OF llsttu
tons of its kind"
"AlI Of which is respectfully submitted"
ED. MORGAN.
WIN. A. wHEFLOCk, B B. SHERMAN.
CHARLES s. SMITH. MORRIS h. JtSUP,
CORNELIUS \: BLISS. N. MORRISON,
Z. q. tRANCkLYN, r. ID. TAPPEN.
The full Report of the Superintendent of Insur-
ance and the full Report o. the Committee Of Policy
holders. and representatives Of pol cy- holders
have been printed, in pamphlet form. and
may be obtained by application 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 Commute of the Soc ETY.:
The thorough investigation into the affairs and
CONDITION. Of the Equitable Life Assurance society
by the Insurance department OF the State OF New
York and by COMMITTEE of POlicy-hO!ders and
Representatives OF Policy holders has not relaxed
in the slightest degree the customary examinations
by the Sanding and special {, mmitters Of tbs
Board Of Directors
In presenting the Report of the Society, 'or 1876.
the Finance Commute state that they have during
that year given much attention anu labor to this
consideration Of the system BY which the business
OF the society is conducted and its expenses regu
lated; and have directed the enforcement of all
rules and methods Tor bringing down the expenses
OF the Society TO, and continuing the same AT. the
lowest standard consistent NTH the greatest eff
eI,ncy IN the administration OF ats Gtdirs-
The undivided surplus iund Ol the Society Is
much larger than IS requisite for the continuance
Of DIVIDENDS to policy -hOlers without diminuton.
and in order to guard against even unex pecSd de-
probation in Investments the committee have
RssOirsl, That oil ght hundred thousand cellars OF
the said undivided surplus be withheld from division
among policy holders until the further order OF
this Committee or of the Board to cover any pos
sible loss arsn. from the value o. real estate and
other securities.
The Equitable Life Assurance Society has, dur
ng the past six months "a perod of uneNampled
depression in business and hnance) undergone,
through its own Committees. the Insurance De
prrtment of the State and u focy-holdors Com
mittce. examinations, for thorOughness of detail
and scrutiny in all departments Of its affairs. I'M
prccedentrd i'll the history OF corporations.
GEO I. ApEE GEO. u MORGAN,) Com
JAMES LOW HI. SrAULDING, mitrre
PAEkEB HANDY, II. 4. HURLBJI, on Fl
WM. II. FOGG. IA. STEWART. nance.
Board of Directors.
Henry Il. Hyde, Robert LenoN KENNEDY.
1;-orrc f. A,lre. John u. Jones.
Vim d. Lambert Cyrus W. Field.
Henry 4. IurlhvTt. u. Williamson
II 1, Naruuuud William Walker.
james Low. Henry Day.
H. r. Suauldinr Joseph Ssligman.
Jas. W. Alexander. Brnlainan p Bates.
Hciry =. Icrbcll. Ashbel dTrcn
Charles J. Martin Wavman Crow.
Thomas ; loun. stephen H. Phillips.
Thomns A. Commits. Thomas A. Bddlr-
Rob, ri Bliss II. VI. Alexander.
William H. Fnrr John j. Donaldson.
Daniel D. Lord George e. Kellogg.
-, ~ Sau,u,I TOrr,y.