The "Equitable Life."

Taranaki Daily News, Volume XLVII, Issue 7821, 13 May 1905, Page 2

The "Equitable Life."

(From the N.Z.. Times). The revenue account baiunce-slieet for 1904 of the Equitable Life Assurance Society of the United States has now reached us. The society has made cxcollont progress during. 1904, and the muin items in the accounts show very considerable increases. The principal increases are :—Assurances in foice, £307,334,004, increase £17,595,7(53 ; new business paid for £85,801,068 ; assests, £85,067,346, increase £0,725,.396 ; surplus, £16,582,672, increase £'1,528,947 ; premium income, £12,598,458, increase £676,712 ; interest and rents, £3,344,883, increase £327,704; total income, £16,315,716, increase £1,040,505; cash, bonuses, £1,233,391, increase £65,679; total payments to members, £7,583,435,, increase £457,645.

The society's position has been considerably strengthened by tho year's transactions. Its assets have been increased by £6,725,396 to the splendid amount of while the surplus of these assets over the .lociety's liabilities has been added to by £1,528,947, and is now £16,582,672 i, a splendid guarantee for tihe security of the society.- Tho popularity of this world-wide institution was well maintained, for the new business paid for was £45,810,068, and the assurance in (orco was increased by £17,595,763 to tiic enormous sum of £307,334,064. The income was £16,315,716, a sum greater by £l,O-10,505 than the amount received in 1903, andi the ■nterest earnings of £3,344,888 show an increase of £3127,704, with a consequent rise in the rate of interest earned to £4 4s per cent. In addition to this, the society has made a gain of £986,486 in the valuation of the assets during the year. The payments to policyholders in 1904 amounted to £7,583,435, out of which £1,233,341 was paid in cash bonuses. The society has now puid since its establishment in 1850 the sum of £98,105,971 to its policyholders.

Notwithstanding tho very large transactions of the Equitable, the management has been able t 0 reduce expenses considerably, for the rate of expenses both 0 n total premiums nnd total receipts is below that ofi the previous year. The Equitable has now been is Australia for over twenty years, and has Iwcome a local institution—so well established has the Australasian branch become under the management of the general maJmger, Mr C. Carlisle Taylor. The business of the branch for 1904 was well up to the standard of past years, aad the progress in every department was satisfactory.

The head office of the society for this colony is in Wellington, the local agent being Mr W. Heslop, of Smart Road.