Life, 1909-03-11 · page 23 of 36
Life — March 11, 1909 — page 23: what you’re looking at
What you’re looking at
This page is **not a cartoon or satirical content**—it's a corporate financial statement. The Equitable Life Assurance Society submitted this annual report to policyholders in *Life* magazine (February 20, 1909), presenting year-end 1908 financial data. The document shows comparative figures between 1908 and 1907, highlighting growth: total assets increased from ~$454M to ~$472M; new insurance paid rose 25%; death benefits paid reached $20M. The company emphasizes efficiency (97% of death claims paid within one day) and profitability. For modern readers: This represents corporate financial disclosure in the Progressive Era, when major insurance companies advertised their stability and reliability directly to customers through mass media—a trust-building tactic during an era of business scandals and reform movements.
📄 Transcribed text from this page (OCR, searchable)
Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES TO POLICYHOLDERS: NEW YORK, FEBRUARY 20, 1909. The following synopsis of the Annual Statement, as of December 31st, 1908, is submitted for your information: 1908 1907 TOTAL ASSETS - - = — $472,339,508.83 $453,928,775.06 Stocks at Market Quotations of Decenber 31, Bonds at 3 amortized values. TOTAL LIABILITIES stoke Aeee Mer: st" 3 391,072,041.93 379,372,284.59 Consisting of Insurance Fund $384,152,880 and $6,919, 161.93 of miscellaneous liabilities. The Insurance Fund (with future premiums and interest) will pay all outstanding policies as they mature. TOTAL SURPLUS - 81,267,466.90 74,556,490.47 With an increasing number of maturities “of Deferred Dividend Policies this sum will gradually decrease. NEW INSURANCE PAID FOR - - 91,262,101.00 73,279,540.00 This is an increase for the year of Realy 25 per cent. as compared with 1907. TOTAL AMOUNT PAID TO FOLIC HOLDERS: - 47,861,542.69 45,305,831.30 DEATH BENEFITS - 20,324,002.65 18,992,079.87 97 per cent. of all Death Claims in America were paid within one day after proof of death was received. ENDOWMENTS - 4,830,170.10 4,704,119.32 ANNUITIES, SURRENDER VALUES AND OTHER BENEFITS 14,696,354.16 14,100,855.97 DIVIDENDS TO POLICYHOLDERS - ee ceed 8,011,015.78 7,508,776.14 1909 Dividends to Policyholders will approximate $10,000,000. TOTAL LOANS TO POLICYHOLDERS ratchet hart) 57,053,555.28 49,615,393.06 DIVIDENDS TO STOCKHOLDERS - 7,000.00 7,000.00 This is the maximum annual dividend that stockholders can receive under the Society’s Charter. EARNINGS OF THE SOCIETY FROM INTEREST AND RENTS - - aS Ae ey ae 20,636,405.61 19,485, 110.01 OUTSTANDING LOANS ON REAL ESTATE MORTGAGES — 97,570,767.22 95,008,970.00 Invested at an average rate of 4.70 per cent. as against 4.53 per cent. in 1907. TOTAL EXPENSES, including Commissions and Taxes - - 9,758,447.46 9,846,858.69 The average gross rate of interest realized durin 1908 amounted to 4.45 per cent., as against 4.39 per cent. in 1907, 4.26 per cent. in 1906, 4.03 per cent. in 1905 and 3.90 per cent. in 1904. PRESIDENT comicbooks.com