Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-11-28
Open Letter.
NOV EMBEN =, 80,
Mr.. l.. r. Warren. General Agent Provi-
dent Savings Life Assurance Society,
Richmond. Va:
NOVEMBER q, 1895.

NONEMBEis ~ lhsJ'
Mr. l.. II. Warren. Genera Agent Proyi-
dent Savings Life Assurance Society,
Richmond, Va:
Dear Sir-You have seen III through
an open letter In the Richmond Dispatch
OF the 10Th instant 20 call attention -
our mode Of advertising 70 the public
the unparalleled progress and great
strength OF the Equitable Life Assurance
Society Of the United states. which we
have the honor TO represent as general
agents.
You also make reference 10 statements
and acts, and criticlse our methods, and
yet say II would be presumption 10 do
so. We fail TO see the consistency OF your
action, or the cause which instigated II.
IL reply TO your two most important
particulars" we have to say:
l. In answer 10 the company's ratio OF
assets TO liabllties-if you will read the
local agan-you will find that reference
is made to the advertisement Of the Equi-
table which appeared in the same issue
OF the Dispatch, and in which was shown
the comparison OF the ten principal COM
panes Of the United States. In making
COMPARISON We think 1t fair TO make II
with companies transacting business on
the same plan. Your company transactS
it's business on an entirely different one.
You call attention 10 the fact that your
ratio Of assets to Liabilities Is l79. We
wish 10 call your attention 10 the fact
that the very next company shown on
the chart OF life insurance companies
The Provident-has a ratio Of 35i per cent.
We also wish you g. notice that the eX-
cess Of income over disbursements in
these three companies for the year 1894
r4cnaqtttalks - FOL Tho pFpytlent
s.. 23i; the Provident Savings. S226,1s9 and
the Equitable, Sl6.2i52l2. The ratio OF
assets 10 liabilities is a true test of
strength. provided you have assets on
which TO ratio; yet IL Is easy TO under
stand how a 5000 loss TO the Provident
would have wiped the whole years income
out of existence, and yet its ratio is more
than double that OF your company. Just
here We wish to add that IL has taken
YOUR company twenty years to accumulate
s1.7s7lS2. while In thirty-hve years the
Equitable has accumulated assets amount
ing to SlS5,Oco000.
We call attention 20 these facts TO
show that not a single ratio. but many
comparisons. prove the Equitable 10 be
the leader to-day among the principal
companies of the world.
In answer 10 your last objection. that
tue Equitable paid t. It's policy-nolders
IN 1884, a greater dividend than any other"
we again refer 10 the Advertisement in
which the statement Is made that the
cash dividends paid in 1894 amounted 70
e. l39 T5j. while the next company paid
out N,6s1,75j. The percentage ratio VIII
be Just as satisfactory when properly
figured as the examples given above. Ii
makes all the difference I'm the world
what you figure your percentages Of divi-
dends against as 10 the result. II may
suit one company to take one basis. while
different one will be used by another.
Then. too, an annual dividend policy
Will show certain percentage on the
total amount OF premiums paid IN, while
that OF free tOntine In the Equitable
shows three or four times as large for a
given period. After you have been In the
business several years you viii ind that
these are facts.
We still think the Equitable Is the best,
because II originated all the important
reforms I'm life assurance: because its
free tontine contracts are plain promises
TO pay: IL IS doing the greatest amount
OF good 10 the greatest number pays liz
claims promptly. and has many millions
OF dollars OF surplus or safety-fund in ex-
cess OF any ether company.
Yours truly.
HOWARD SWTNEFORD & Co.
General Agents. Equitable Life Assurance
Society Of the United States.