The Birmingham age-herald., 1906-03-01
EQUITABLE ASSETS
 ARE $42O,873, 756
Total Liabilities of Society Are
 Now S352,516,566
ANNUAL MEETING IS HELD
Excess of Receipts and Profits Over Disbursements and Loss for Past Year Was $24,343, ,567-Mor-
 ton Makes Statement.

New York, February 2S.-The annual meeting of the trustees of the Equitable Life Assurance society was held in this city today John NJ. Beach of the Tefft- Weller dry goods corporation was elected a member of the board. All the officers and standing committees hold over pend- ing the receipt of the report of the com mittee on bylaws
 The annual statement of the society pre- sented to the trustees shows that $9, 652, 465 was charged off during the year for losses. Of this total $7210,093 was charged with adjustment of book values of real estate, s1,sOOO0O to reserve for possible losses on agents and miscellaneous bal ances. $22S, ,798 to loss on agents balances, $245,26S to losses on sales of real estate, and liabilities not previously carried on the books. The statement shows that an adjustment of the book values of stocks and bonds resulted in a gain of $S ,425 O3s, and that there was profit of $1.67O 525 on sales of stocks and bonds. The ex- penses incurred in connection with the several examinations of the society in 1905 including reserve of s25O.OOO amounted to s5O2.152.
 Total Receipts for Year.
 The total receipts for the year. includ- ing the Ss,425,03S for adjustment of book values of stocks and bonds, amounted to Ss9 1O5,319 and total disbursements and losses to $e4. .7sl 752, an excess of receipts and profits over disbursements and loss of $24, ,S43. .567.
 The statement of assets and liabilities as of date of December 31. 1905, shows to- tai assets of s42OS73,756. The assets in- clude advances to agents and miscellane- ous balances of s9,30S,263 less $1900,000 re- served for possible losses, and also in- cludes s6933.3 1903 of uncolected and de- ferred premiums. The book value of bonds stocks and other marketable se- curities is placed at s24s. 7O6. .S55. which book value report says is $1,049,173 less than the market value of these securities The total liabilities are $352. 51656s leaving a surplus of s6S 457, ,190. The society's total outstanding assurance is $1. .465 123, ,436 New insurance taken during the year amounted to s141 .6s5. 252 This is less than the limit l of new business as fixed by the Arm strong committee report.
 supplementary statement issued from the office of President Paul Morton reads:
 Morton Issues Statement. l Although the extraordinary expenses | for the various examlna tons or the so- ciety were in excess of s500.000, yet the de- crease in total expenses amounted to over s1, 100000. Tn a word, the ratio of the l expenses of the society for 1905 was 15. IS l per cent as against 1877 per cent in 1904
 "The new business taken In 1905 was I about .000 less than in 1904.
 The outstanding total insurance on De- cember 31 1905 was s3o,4l9456 less than 1t was on December 3l, 1904 During the year 1905 the Equitable disbursed sl0 06s2.- : | g75 to policyholders who surrendered their policies. This is s7,731 .670 more than was l expended on the same amount in 1904'