Evening journal., 1918-02-25
POLICY HOLDERS Get
EQUITABLE CONTROL
president Day Announces
That naturalization of
Company is Assured
ACCOMPLISHED FACT
AT EARLY DATE

NEW YORK. Feb. 25.-In his annual
letter to the 100000 policyholders.
President William A. Day Of the Equit-
able Life Insurance Society an
nounces that the naturalization Of the
society was assured lie pointed out
that the proposal by which the organ
ization was 10 get the majority stock
from r. Coleman dupont had been ap-
proved by the directors, by the stock
holders, by the pOlicyholders. by the
State Superintendent of Insurance Of
New York, and had the sanction OF the
peals.
Il therefore have the honor and the
qualification OF announcing that the
complete legal naturalization Of the So
ciety is now assured" his letter read.
~The final f-rmality by which the So
clety secures control Of IFS majority
stock win soon be cOnsummated
"By accomplishing the statutory mu-
tualization OF the society" the letter
went on TO say, "a perpleXing problem.
The solution Of which has long haffled
those in charge Of Equitable affairs. IL
settled for all time. The policyhblders
who have always owned the reserves
and surplus funds now control the
Equitable corporation, and the posi-
bllity Of any future annoyance or diff
Guilty regarding the ownership Of con-
tingent reserves, or matters Of business
OF financial policy arising from individ-
nal stock ownership, is forever re-
moved"
Mr.. Day said that every dollar in
vested In new Equitable insurance went
10 the government In the form Of a war
loan.
IAN amount equivalent 60 our first
year premiums has been pledged for in
vestment in future Government loans
during the period OF the war" he as
serted "Thus, every dollar paid ~
new Equitable insurance will be a dol
lar loaned 10 the Government 90 help
win the war
THE socieiy's experts have devised "a
plan whereby an insurablc individual
may purchase future ISSUES of Liberty
bonds through the Equitable with priv
ilige Of paying for them In instalmenl-
over a period Of five years. A term
policy Is issued for the amount Of the
bonds purchased. This insurance is
used TO pay for any balance due on the
bonds in the event of the death Of the
purchaser before the payments are com
pleted"
The letter said that the Equitable
had placed It's influence and its ma
chinery at the disposal Of the Govern
inent for war service.
Mr.. Day declared i'm his letter that
obstructive criticism of the Govern
nent was good, but that destructive
criticism was bad
I'VE must not lose over sense Of pro
portion" he wrote. "While insisting
that our governmental errors hc cor
rected we must not permit them 10
obscure our vision of the great work
1iready done and the great work still
necessary I'm performing our mighty
Task across the sea. Disturbing as our
problem are, no dinculties have yet
lrisen. and none will arise In the field
NJ finance. production and transport
ton which the unleashed genius and
business courage Of the American peo-
pie cannot overcome.
Danger TO the future safety of ow
institutions undoubtedly turks Zoe some
~ the extraordinary policies ami pow
ars granted the Government under
stress Of the great war Tho people
must see that these powers are return
"a 10 them when The emergency is
past"
Commenting on the effect of war ON
life insurance societies, Mr. Day wrote
NO severer test than the present aud
prospective burdens Of the war and thn
economic disturbances which it pro
duces could be put upon our life ln-
a.. d &C. HHN
ltion but serves 20 emphasize their
strength and stability. Every American
may have the satisfaction of knowing
That the scientific basis upon which lif
insurance Is operated will enable 10 lo
render abundant service 10 the conntry
md 90 emerge from the great war safe
sound, and solvent
The letter said that the new bus.-
ness Of the society IN 1917 was s23i.0oo
100. as compared with s2itmONO boz
1916. The policy holders. a- being di-
rcctly interested in railroad securities
held by the companies. are calied(on
10 use their inf fence 90 see that ihg
financial end of the railroad situation
received proper care.
Now that the government has taken
temporary control of One roads" lhe
letter says, III is imperative That every
Equitable policy holder should take a
nm greater interest On Che projection
of his rights as a creditor OF ihe rail-
roads through his insurance COMPANY
DE should appeal 20 his Congressman to
see that i'm the hurry and confusion oi
war legislation fun and complete jus.
lice Is done Che creditors of the rail-
roads; that the railway shall boz pcs
turned 90 the owners at the end of tle
war not physically run down or im-
paired but IN as good condition q.
when they were turned over l0 Che
government and If possible with eN-
tensions and Improvements Initiated io
meet the constantly increasing trans
nnrIaIlnn demands Of the cnnnlrv.n