Show PURIFIED LIFE INSURANCE benefits from new law which re ma ns substantially y unchanged through the influence of gov hughes the new york legislature de aided to make no radical changes in the new insurance law it was pointed out by gov hughes that the new york law has already accomplished wide spread reforms with proportionate benefits to policyholders and that it should be given a thorough trial be fore any amendments were seriously considered it is estimated that the cost of the mismanagement of the past did not average more than 20 cents to each policyholder while the benefits to present and future bolders will amount to many times more and be cumulative besides the speed craze of the big companies and the ex cost of securing new business was the most extravagant evil of the old managements under the new regime the cost of new business has already been greatly reduced along with other economies the showing made by the equitable life assurance society in its report tor for 1906 was a strong argument against meddling with the new law in the equitable alone there was mas a saving of over 2 in expenses besides an increase in the income from the society s assets amounting to as much more the ratios of the equitable a total expenses to its total income was 19 42 in 1904 17 38 in 1905 and only 14 1448 48 in 1906 the dividends paid to equitable policy holders in 1906 amounted to 7 which wh ch was an increase of more than 9 over 1905 while the equitable made a better showing than any other big company all reported radical economies and un der such conditions the legislature wisely decided to leave the law sub ly as it stands |