Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1909-07-28

tlOSc WAo are regularly CLiployCu Ia
that department or an Officer of the
Society. In addition to these safe
guards, there are little electric but
tons hidden away in and around the
security room which are to be press
ed only in the highly improbable ev-
ent Of an attack on the vault by a
moi during a riot. The first pres
sure on one of these buttons sum
mons the police II calls an organic
ed force OF clerks, who at once arm
themselves from small ~arsenalS in
different parts OF the building and
run TO the security room. A second
alarm cuts of all communications
located II prevents anyone from
entering or leaving. All OF these
precautions are in striking contrast
with the little iron safe which held
the Society's first investment OF $40
O00 made just half II century ago.
The Equitable was authorized TO
W. b'SlltSS VII July ~, ico'. WI
days later it opened an Office. in one
little upstairs q in lower Broad
way. and wrote its first policy. Its
growth since then has been typical OF
tie development of American lift in
surance. On Dec 81, 1859, after IN
existence of u little more than five
months, it had assets of $l17,l02 and
outstanding insurance OF $l,l44,0O0
At the me of the 25th yea the as.
sets had grown to SIS. l61 ,92G and tlfh'
insurance in force was $309, 400. Ill
On Dec. 81. 1908, the assets were
$472 .339. 500, which included Il sur
plus OF ISL ,267 ,467, and thc Outstand
ing insurance amounted to $I,326.41S,
.43. Since its organization the SO.
ciety has received in premiums th2
sum OF 81 1889, 7S9,415 and ii has paid
10 its policy holders an aggregate of
$G5G. 772.Go2. including $333,iS2,009
in death benefits and $l10.?54.504 in
dividends, in addition TO matured en-
dowments. surrender values and an
nuities. The present assets as shown
in the last report. added 10 the pay
ments since the organization, MAKE
a total OF SLIPS, ll2.lla. In other
words. the Society has returned to
its policy holders or old in trust
for them, $39.332,697 than it
has received in premiums, in add
ton to which it has pail taxes on
real estate INT premium receipts. rs
levied by the different states. am
ounting to $l5.399,4 2l.
Under the management of Paul
Morton. who became President of the
Society in June, 1905, there has been
a steady decrease in expenses and
an increase in the return on the Ed
uitable's investments. The average
ate Of interest realized in 1908 was
4.45 per cent, as against i.39 in 1907,
4.26 percent in 1905 and $50 per cent
in 1904. The dividends to be paid to
policy holders this year will amount
to $lO,0O3 900. as compared with &c.
001 .903 in 1904. The new policy of
placing the Society's investments in
those sections of the country which
produce the premiums is also being
successfully carried out. Loans with
in the state of New York are being
reduced and large investments are
being made in the south and west.
The semi-centennial will be OBJ
served with Il convention Of 500 OF
the SOciety's successful agents, from
all parts of the country, in New York
on July 20. 81 and %. 1t will be es'
sentially a business meeting, and one
well calculated to protect the inter
ests of the Society and it's policy.
holders. Nine of the PIT policies
were taken out in 1859 ere still in
force. They are held by Rev. Edison
l.. Clark. of Dalton, Mass; Arthur
Gilman. of Cambridge, Mass: John
G. Cunningham, of BrOoklyn: Will
liam barrow. of Summit. n. j.; Rev.
George NJ. s. Blauvelt. of Roselie, N.
j.: Percival Stedmand. vt Oakland,
Cal; Thomas Y. Crowell and William
Erving, of Now York City. and John
'B. Babcock of Boston. These gen
tiemen aud b. +. MANNERS, of New
York, the only survivor of the orig.
inal GARD of Directors. have been in
vited to attend the convention. Bust
ness meetings will he acid every day
and addresses will me delivered by
the officers of the Society. and many
of the agents IL