| Show THE EQUITABLE LUrE LIFE ASSURANCE SOCIETY OF THE UNITED STATES New York March 9 1908 To ers and Agents i iThe IThe The total assets ol 01 the Society on December 31 3 1 1907 1 taking the market quotations of that date dale for stocks and bonds amounted lo to o The liabilities including policy reserves were shoving showing a surplus of I 7 1 The I he assets taking the amortized d book value of bonds showed a valuation of 06 with a surplus on this basis of Haskins Sells Certified Public Accountants who have continuously had charge of the auditing of the accounts during the year 1907 1 certify that this valuation of assets correctly sets forth the true rue financial condition of the Society as of 01 December 31 3 1 1907 1 A copy of their certificate which shows the financial strength of the Society will be mailed upon request to 10 any anyone one interested The payments to policyholders during 1907 1 amounted to 1 30 Of this amount I was paid in death benefits 97 of all death claims in the United States and Canada were paid within one day after proofs of death were received by the Society a record unparalleled by any other life insurance company in the world 14 4 was paid in dividends to policyholders The amount set aside to be paid in dividends to lo policyholders entitled thereto under their contracts during 1908 1 is I was paid to policyholders in matured Endowments Annuities Surrender Values and other benefits Over and above these direct payments to policyholders the Society on December 31 3 1 1907 I had 1 outstanding in loans to policyholders on the sole security of their Equitable policies as collateral an increase for the year of I 1 The new loans made during 1907 1 on real estate mortgages all well within the limit of safety safely amounted to 1 which was placed at an average rate of 5 1 7 This rate of interest showed a most substantial gain gain as compared with an average rate rale on new loans of in in 1906 I in 1905 I and in in 1904 I The total outstanding loans on mortgages as of December 31 3 1 1907 amounted to and yielded average rate during 1907 1 as against in 1906 1 in 1905 I in 1904 I On securities in which the Society may legally invest there was loaned 1 I I 4 I 2000 during 1907 I always with an ample margin of collateral at an average interest rate of The earnings of the Society from interest and rents was 1 I 5 1 greater in 1907 1 than in 1906 1 The average rate of interest realized during 1907 I amounted to as against in 1906 in 1905 in 1904 The Directors and Officers of the Society are cooperating with singleness of purpose to advance the best interests of the policyholders The I he Society is complying with the spirit as well as with the letter of the new insurance insurance laws of the State of New York Existing financial and commercial conditions make life insurance absolutely necessary to many men at the present time the great prosperity and inflation of the past ten years having made them careless of o the indispensable service which it performs That the insuring public recognizes these conditions as well as appreciates the effort of The Equitable Life Assurance Society to satisfy its present policyholders and to appeal to people wanting life insurance i is proved by b the fact that the Society s new business for lor January 1908 1 showed an increase m rease of 44 and for February 1908 an increase increase of 50 over the corresponding months mon of 1907 c 1 I 4 1 1 oot 1 I fit 1 I C |
