The " Equitable Life."

Taranaki Herald, Volume LIII, Issue 12925, 2 August 1905, Page 3

The " Equitable Life."

- ••■ Referring to the cable recently inserted stating 1 that a suit had brwn commenced in 'New York for the appointment of a Receiver for the assot-B of the Equitable Life Assurance Society, which are set do%n at over X 87,000,000 the following- statement has been telegraphed by the Rcsidemt Secretary of the Society : — "Action being brought by stoclkhoklcrs with the object of defeating the directors decision to mutitalize the Society, must decidedly fail. Francis Hendricks, " Government . Superintendent • of Insur ance, for New York State, says in > connection with the examination of the Society now in progress by bis Department, 'I am at this date (May Bth) sufficiently well informed as to its condition to unhesitatingly state that it is financial ly sonnd and that its contracts tp policyholders arc fully and safely guaranteed.' " In connection with tho above, thy. Government. Insurance Depart-. ment of NfW York, in their last annual examination of the Brjuitablc certified that the excess of assirts ovor liabilities was over £16,000,000, as sot forth in tho balance-sheet of the Society, copies of which arc to bo obtained at the Branch Office of tho Society in Stratford, togrihrr with an itemized report of all tho investments of the Ecfuitablo Life, which is issued as an absolute refutation of the message inserted on Saturday.