Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1911-01-29
OBSERVATIONS
ON THE DEATH
OF PAUL MORTON

Agents Shows Wonderful Prog.
ress Made by the Equitable
Under the Leadership of
Its Late President
The Equitable Life Assurance So
ciety of the United States is the
strongest financial institution in the
world 1t was so six years ago
when Paul Morton became it's presi'
dent. Its strength has since IN
! Cleased constantly; its organization
! is stronger; its control for it's policy
holders' exclusive benefit better safe.
guarded by law, and in fact than
that of any similar great institution.
Its stock can now elect but "a of
its full board of So directors. OF
its present board of As, but II were
! elected by the stock. Even the
privilege which the stock possesses
of naming the minority of the board
of directors has been exercised for
the exclusive benefit Of the policy
holders. In fact, the last two indi-
vidual owners of the majority of
stock have recognized such owner.
ship as a public trust by placing its
voting power in the hands of trus.
tees, to be exercised for the benefit of
the policy holders; another added
check to any Indifference or negli.
gence which might be shown by the
policy holders, who at the same time
may always, through their % mem.
bers, control the board.
Its directorate has been strength.
ened. Its directors, as may be ex-
pected from such a plan of organiza-
ton, are chosen from its policy hold
ers. including many of those most
heavily insured in the society and
thus personally interested in directing
1t for its own interest, not in the
interest Of any combination, whether
railroad or otherwise. Its control
has never been so able or its board
so representative and active. Its
entire organization, committees, by.
laws and official staff have been re.
organized, pruned of unnecessary Of.
ficials and salaries and made more
efficient.
Its assets, always of the highest
grade, have been made not only far
more productive. but revalued upon
an almost ultra conservative basis.
hese assets, freed from outside fl
nancial connections. are by law
thoroughly approved by the executive
policy-restricted to still more con-
sentative and high grade lines. It's
real estate has been revalued and
freed from restrictive leases; its
bonds amortized and it's counting sys-
TEN perfected: it's disbursements aud.
tied daily by chartered public &C.
cOuntants. Every system and meth
cd used has been scrutiniz:d and.
where possible, simplitied, with the
sole object of increased efficiency and
greater economy.
Its mortality savings have enOr-
mously increased, it's investments
have been made more productive, it's
expenses largely reduced. and conse-
quently its insurance not only made,
If possible, more secure, but certainly
far cheaper. x-IH4
The laws safeguarding it are mod
els for other states, countries and
corporations, and what some public
corporations are dreading, we have
proved to be practicable, wholesome
and salutary. ] "7- VI
Its policy forms have been stand.
ardized by state provisions.
Improbable mon, methods and bus
mess have been eliminated. The
standing of life insurance. the Equit.
able and its representatives has never
been 80 high. it's policy holders so
rightly satisfied, it's claims more
promptly paid, it's entire services to
policy holders so efficient and lib
eral.
Always the strongest. most prompt
and liberal company in the world, it's
progress during the last five years,
with Mr.. Morton president, can only
be appreciated by retrospect. Such
progress could never have been fore
cast and would have been beyond
belief. !
Mr. Morton's unexpected death was
typical of the quiet and unassuming
man. He kept his own counsel, dis
liked announcement; he wished to be :.
known and judged by what he had
done, not by what he intended to do.
Keeping his plans to himself, when
ready to act, he was swift and final.
ITO WI III ICOi 6dLIZlH3
and 1ehabilitating the great Equit-
able was the browning achievement
If life of ability and cleanness of
character, typical of the best Ameri-
IAN manhood-the new western
American. His name is and always
will be power for good in the Equit-
lble. standing as he always did for
he square DEAL" il
On his first visit to an Equitable
lgency in Pittsburg. November I,
905, he said: II don't like to talk;
want people to see what | have
|ore. not tell what intend to do"
What Paul Morton did for the
Equitable, so far as can be com.
'ressed into a brief statement, is
most cOmprehensively told by the
GLOWING statement. The figures
or 1910 are unfortunately not yet
or the exhibit would be even
lOre striking. For illustration. the