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

annusi dividends and other contin.
seneies. but these proportions have
no reference 10 any definite amount
'of sarplus. mt increase ~ a.
creepe mitQt appE relatively To botn
The ava6ags eank balance cssx3ed
lase year ~ this society was e3o.0O0..
800, on which II rtceived approximate
~ 2 per cent. interest. We have ~
duced these bank balances by the In.
.ysstmsat .ot 42S y000- On . rhasis al,
I per cent Of. more. which alone IN.
creAaes the Income OF the society
16Oo 900 psx- aanum, ln-addisi0n-t
this We have told the banks and trust
e49ipahies that Npl must have ems
tflf q GA 'p4r cant more o4 our
dairy ebalantsA. which n6w dmsuht to
from el0,000.0 900 TO $4,000, 900 and
that ean ove $50. 900 additional In.
come per annum. making = net In.
crease In the evenu OF the society
from this one item alone Of S550.O00I
= year.
Notwithstanding all the sensations
and agitatiops. the Equitable society
paid out daily during the yGarx ~,
In death claims, Nendowmen&t, aovs
render values and othss tenefits. an
average Of about silastp0 per day.
which went Into the pockets Of the
people, Our income y approximately
100000 . day. the differences. less
the expense o. conducting the bust
ness. going into our assets"
Has public confidenes been Inn
paired by the. inyestigation?y
"Yes, public confidence hes been
impaired by the d~iscIoeurss." said
President Morton. "Psopae have been
startled by some Of the faets sbrpHght
out in the investigation, and u ths
insurance companIes - not BEEN 70
strong the business might have Aesn
ruined; but II any one thing has been
emphasized more than another BY the
investigation 81 ID the financial
strength Of these large institutions. J
do not want In any way to be put -
the position Of defending or apOlogis
Ing for those who have preceded me
but ] cannot refrain from saying thai
the investments Of this society as :
class are Or a high character. ana tn
/. men who made them are entitled q
much credit for the judgment display
ed. The amount OF money the societ!
. has made b. careful investments ha'
greatly exceeded any m~isappropria
| tion OF funds. The assets Of the inst'
tutions have not In any respect de
! preciated in value by the disclosures
!. and the insuring public ought, to con
! graduate themselves that the investi
& cations have been made. and tina
D honesty OF management hereafter J
sure TO follow,
Business has fallen Oh materiaD'
r because Of the lack of confidence, tn
/. largest companies have been the mos
i vigorously attacked, and many POI
) icies ave been forfeited by tint
|, paop,e who have been frightened p
! the newspapers and BY the agents Q
I. ether companies. who have had grea
4 Inaryest In twisting policies from-th'
!, companies attacked to their own.
!. think all Of the companies ave ssn'
fered more or less, but am certain
i that they will recover and that con
! fidence Is gradually being restored.
What are yon going to DO 10
people who have forfeited their po'
1 icies and want o come back"
aThis society will make IT as cas-
as possible for policyholders who hay
been frightened. I o restore their 20
fcies. although there will undoubted''
be cases IN. which II cannot legally .
accomplished"
WILLIAM p. CURTIS.