New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-01
ELECTION IN EQUITABLE.
Wilson Takes TWbeUS Place
annual Report Issued.

The Equitahe's board Of directors at the annual
meeting yesterday elected George T. Wilson second
ioe-president in place OF Gage F. TarbelI; c. Z.
Phelps. treasurer. in place OF Henry Rogers Win
thrOp, and Gerald r. BroEn. controller place OF
" A. Day whose appointment as vice-president
in virtual succession TO James Hazen Hyde the
board confirmed its meeting.
The directors reelected ali the other officers in
Guiding President Paul Morton. For some time MI
Day has been both vice-presdent and controller
Mr.. Wilson third yice-p president Mr. Phelps as
sistant secretary and Mr.. Bronn deputy controller
While. In accepting Mr. Winthrops resignation. the
board passed a vote OF thanks and appreciation so
Ear could be learned il did do in the case
Of NJ. TarbeI.
Mr. Wilson has been connected with the Equitable
for more than thirty-dve years. and the company's
employees. it is said feel especially encouraged by
his promotion TO the second vice presidency. It is
understood that Mr. Wilson, In his place. will
have supervision Of both the foreign and domestic
agencies.
President Morton's financial statement to the
board. and 20 which the firm OF Haskins & Sells
certified given out. showed:
The total assets OF the Equitable on January /.
1907, were SaS45s2575 l3 as compared with $42o176.
2l4 - on January !, 1906
The total payments 10 policyholders during 1868
were s4i5.s2 IS, an increase Of s. 25,l5s 10 over
1870. Of the total payments in 1866, the dividends
20 polcyholcers amounted TO SL2S9, 7S4 81, in
In 1900 the polcyhoiders received 7O4 per cent Of
ed "a 81 ptr cent 10 q a. ne4 cent exnended for
al other purposes In 1895 So per cent Of all dis
bursements went 10 poicyholders, only 20 per cent
being expended for the conduct OF the business
This indicated reduction Of about one-third in
the expense OF administration compared with total
disbursements, and Mr.. Morton stated that he
pectec to make still further improvements along
this line.
The ratio OF expense 10 premium income was 24.43
per cent In 1904 226o per cent IN 1862 and 1894 per
cent in 1906. decrease in ratio OF 2oS per cent from
1905 and y per cent compared with 1905.
The ratio OF The society's total expenses TO its
total income 1912 per cent in 1904 lz3S per
cent IN 1916 and l4.sS per in 1906 a saving Of
"a per from 1905 and Of 206 per cent over 1905
The net decrease IN expenses for 1906, exclusive
Of agents commissions, in which there was
naturally a large saving. Sl.25l, 022 OF.
Fhe societys income from interest and rents was
ST. a09373 % greater in 1906 than In 1906. The aver
age rate Of interest yielded by the societys in
yesfrnents 80 Per cent in 1908. f.03 per cent
IN 1905 and a26 per cent in 1906. This Increase IN
Income fT0m Investments has been accomplished
without the sacrifice OF single point Of safety.
In 1906 the society loaned s7 l6j 76 its policy
hO1ers their policies, S45a24l2 % on real estate
mortgages, and si3,35o0o0 on bonds in which the
society may legally invest. The market value Of the
collateral being At ali times 20 cent in excess
OF the loans
Insurance issued revived and increased during
1896. a paid Cor basis. amounted 10 Ss.07e677.
and tne total outstanding Insurance on December
q. 1905 vas S,S76.6i65s.