Salt Lake Tribune | 1911-03-02 | Page 6 | Prudential Required to Distribute Surplus

PRUDENTIAL REQUIRED TO DISTRIBUTE SURPLUS NEWARK, N. J., March 3. Vice Chancellor Howell lins filed a dceit-ion in chancery court in which he upheld the proposed division of n $20,000,000 surplus fund b3 the Prudential Tnsur-anco Tnsur-anco company of America among deferred de-ferred dividend policy holders. Ju the same ruling t he court decided that the stockholders of the Prudential company were entitled to a fund of .2,500,000 assigned fo them as stockholders and labeled ''contingency surplus." Tho verdict is tlio result of a suit begun by Leon Blanchard, oue of tho stockholders of the Prudential, iu which lie claimed that the $20,000,000 surplus, assigned to the protection of the do-ferrod do-ferrod dividend policy holders, should bo distributed among the stockholders.