The times. [volume] (Richmond, Va.) 1890-1903, 1890-10-21

The Equitable LifeAssurance Society. HAY.
ing. during the past five or ok years, made
"A name" ~ the Australasiau colonies, has
now determined to provide itself with local
habitati1ns" there suitable TO It's dignity
and importance. 10 has accordingly made
purchases i'm Melbourne and sydney Of
suitable building sites, and VIII soon COM
mence the erection thereon OF what Will
prove to be two OF the most elegant and sub
stantial building in these countries.
Judging from the utterances Of the local
| newspapers. this move. ON the part OF
! foreign institution OF the magnitude and I'M
pcrtance Ofthe Equitable. appears to have
created the lyeliest feelings Of satisfaction
among the business people OF the cities
named, and the third yice-presideni OF the
society. Mr.. l.. W. scott, through whom
these transactions were elected, IS highly
complimeutcd for the sagacity and good
Judgment displayed in the selection OF the
| sites and the moderate prices at which he
was able To obtain them. Trey are repre-
-snted as being in the best business locali-
ties and where real estate is most valuable
and progressive, and, no doubt, Will prove
excellent investments for the society. In
deed, very satisfactory evidence Of this has
already been manifested in an offer 10 lease
the Melbourne building by local corpora
ton for a period Of thirty years az rental
| ttflINl 10 aNt l'i Afllls WI Ah' 'hNhN NNoh Va
| tue property when completed. This Offer
has. however. been declined.
The Australian papers which have
| reached Us are unanimous in their express
si0ns Of good fec ling towards the Equitable
Society for this evidence Of its confidence In
the stability Of values and the future pros
perity Of the colonies, TO both OF which they
| feel that these purchases have added an In
crement Ofsecurity. No doubt the example
Il a -. 10 fsll.traI Et.
other foreigners having interests I'm these
countries, for it seems to be the fortune Of
that institution TO do a vast amount OF good
| by compelling imitation by others.
| That the business Of the Equitable in
Australia aud New Zealand fully warrants
the erection Of these buildings, is manifest
| from the fact that their entire cost will be
betrayed from the society's Australian busi-
ness. The business Of the society az their
| Australian branches is now in the neigh
| bOrh0Od OF ten millions Of dollars i'm insur-
ance written annually, and there can be 70
doubt that these investments, by adding 10
the popularity OF the society, VIII greatly
Increaee ir.
There are no less than twelve lite assur-
ance comp mics Of native birth in Australia
and New Zealand. the united business OF
which. however. during 1889 did not equal
one-half that OF The Equitable in income or
one-quarter in amount Of insurance written.
The principal Of these companies is the
Australian Mutual Proyldent Society Of
sydney, company nearly ten years older
than the Equitable, which ha, manifested
| from the inst marked hostility 10 its foreign
rival. This, we think, was a blunder-iirst.
because the public generally fair-minded)
does not approve OF its prejudices or feelings
being used rs cafs-paw 10 subser,e the
business purposes OF an individual or a cor
poration; and next, because If the man.
ayers Of the Pr0yident know anything at all
about the Equitable they must have known
| that ii was not the company 10 succumb to
that description Of opposition. They have
put the Equitable on its meit.e, and We look
| 10 see that society, within very short
period, leave its capiiOus rival far behind in
popularity and annual business transacted
| Ia its own leld.-New York Spectator.