Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1906-03-08

cor ,UE
Ezom. the- -chicaga- Rscard'Aerald-l~
Nov yof1 TH YLTh YfIl.sIsss
10 the poltetyRifrs IN R<Aptsp's'
society AMI Phs|ist$ sShsryf 80
Va (svLab kooapn md r.
tr1pd ~ ~ would able 70
wv V6t6.M 4 ykar IN ne Expenses
foa wmaeqeu .rbut ] am nov sattx-'
Nm ~ going 10 ave more
ttlA huch. st least q million
J IA wHSANsr dJtlars annually. That
money ultimately will 20 70 the pol.
icyholders in the form Of increased
yS}tid0tp. aRAsh that, tays they .Arc
Eplns 70 SIT cheaper insYrences. That
hn6f coSrS6. skbine ~ take time We
.arsy fpspins "a uJsFed4allyrs
'sThe chartered accountants who
have been through this institution,
have made. 1 most exhaustive exam.
elnaal6n fof III i1AltG," continued Mr..
HoibAal"Thsy have prohsbiyl gone
into It more carefully ~ In ! more
comprehensive way than was ever be.
fore done in any big institution. They
hid seventy men st work here for five
nonths, and there - not much Of the
transactions Of this institution for the
llast tel years thst they DO not know
atomt. as s
'~The investments Of the society
have been revalued. They have been
scaled down more than Sl6,O0O. 900.
TIE aaeets are just tia same q they
were before; their earning power n
juist the same nothing hss disappear
"a 0T lost ~ vsIue, The nav admins
tfotcn Ii starting an the most conser
Sp4fye basis, however. and We expect
Ia Keep on II. and - are going Y
\. upideyvalus rather. than overvalie
the saving sof t1.2O0.000 4 yeaf. 4
.cSpital1sed. n equivalent 10 additions
inyesttuent 81 12b.O0O,0Oo. This more
than Offsets, tho reduction ii the ~
appraiseInept of the assets q the "
ciety. rfs
THE Equitable society has invest
ments of more thap S~31,0O0.0o0 4
real estate. which have not been prot
liable. continued Mr., Morton. The
have not vet yielded the return thu
shonld have bee6 received becaus,
the buildings were not economical AM
were intended more Az advertise
meDts than an Investments, Hereaf
ter We aye not going 10 40 our Nd
yertis,ng that way, IN several citie'
/. flA ground occupied N 40 much nor'
valuable than the buildings that n 4
practically unimproved property TAI
the headquarters building here \
New York for example, II occnpie
an entire. block of land, which |
worth not less than NH. 900 900. bn
as an investment the building dt
tracts rather than adds to It's value
ii was bull, tor show, rather than 10
utility. III haa IN absurd amount 3
waste room, and pays only about
stera cent 4 year on tho value Of tn
ground and building, II n believes
by the new management that the
could erect i building On this Sc
that would yield III least . per cent
net after paying taxes. insurance an
III other expenses.
The 81, Louis building IA anothe
example sof extravagant ostentatiol
All the society has got ont 81 Il dur
Iag the last ten years has been abou
$4,000 per annuin, which u less thai
s9spsr cent. on its appraised value, bu
Wa recently leased It To reliable pa,
ties under 4 proper bond for ninety
nine years It the rate u $4,000 pc
aAnum Tor the first two years. $4,000
ior the next two years, and 81 100
per annum for the next ninety-nv
years. Resides theae We have offic
buil@iaea,An .Dcston.rnss Moines. Der
rver, Msmphisr and. ether cities Of TIL
country, ana in Berlin. Paris. vienns
Madrid. Sydney. Melbourne, Santiag
(Chile), and the CITY or Mexico.
Where these buildings may hay
served q useful purpose u advertiss
ments II the past. they win be trsa'
N. 0n, 4 business ,basis hereafter. Ap
~ VIII either mako them pay bette
dividends Or dispose Of them. On
reason, however. Tor erecting thet
wAs that the laws Of some countrie
require Investments within their lei