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that would otherwise have been taken by them.

Venator—The main thing, after all, I take it, is perseverance?

Piscator—Truly. If one kind of bait or one fashion of fly fail, persevere until thou hast hit upon a taking bait.

Venator—Thanks, kind master, all this wise counsel I shall store carefully away in my heart.

Piscator-Do so, and, with thoughtful care and painstaking diligence, thou shalt become a cunning angler. And now farewell!

Venator-Farewell, and may we meet soon again.


DINNER IN TOLEDO. Given in Chapin's Charming Home. F. P. Chapin gave a dinner on April 25 to his agents. Messrs. Tarbell and Cerf being also present. Instead of having the dinner at a hotel, Mr. Chapin gave it at his beautiful home, thus giving a very unique home-like character to the proceedings. It wasn't so home-like, however, but that plenty of business talk was indulged in. About twenty-five were present, but what was lacking in numbers was made up in enthusiasm, and Mr. Chapin announced that he had increased his business very largely this year and would at the end of the year show a still greater increase.

“Strongest in the World” “Strongest in the World” “ Strongest in the World ”

Mr. Frank A. McNamee, whose picture appears above, is manager of the Society's Albany agency, and, while one of the youngest, is one of its most successful managers. Under his management the Albany field has been transformed from a somewhat unproductive one into a well organized, firmly established and prolific agency. The effect of this is that his agency leads those of all other companies in that district, and the Society has, on more than one occasion, extended his territory.

Mr. McNamee was born in Albany on May 14th, 1866. At an early age he entered the service of the D. & H. R. R. and stayed with that Company for about fifteen years. In fact as late as 1895 he was making fifty dollars per month as a telegraph operator. Wishing to increase his income he arranged to spend his evenings soliciting life assurance, and wrote thirty-four applications in one month, for which he received five dollars each. His contract with the Equitable dates from June, 1896, and his agency has, almost from its inception, ranked high among our fifty leading agencies, and his name very frequently occupies a prominent position among the fifty leading personal writers.

“ Strongest in the World"

Imprint these four words on your memory, and don't let your clients forget them either.


An Agents' Journal.


JUNE, 1900.

Lives there a lover of books whose heart does not burn within him when the name of dear old Izaak Walton is mentioned in his hearing? We warrant not!

Hundreds of editions of The Complete Angler have been printed, and new editions are appearing every year. And fishermen, and lovers, and parsons, and bankers, and poets, and philosophers still take delight in Piscator's quaint discourse.

This being so, the Equitable News enjoys a proud distinction in being able to publish a recently discovered chapter of The Complete Angler. (See page 4). The manuscript was found, so our informant assures us, under the false bottom of a seventeenth century chest recently repaired by a cabinet maker of London.

Why this chapter was omitted from the printed book, we leave our readers to guess; but that it is as full of wise counsel as an egg is of meat, every reader of the News will admit.

vvo greater than our gain for the first quarter of 1899, the gain for the quarter being larger than in any year since the panic of 1893.

The principal brunt of the change fell upon the agents of the Society and they have not only been loyal, but zealous in the prosecution of their work, and are most enthusiastic over the outlook.

The report submitted to the Board today shows a reduction in the percentage of expenses over the same period of last year.

In spite of the general tendency downward in the rate of interest on first-class securities, and notwithstanding the caution which has been exercised by the Executive and Finance Committees in the selection of investments, the average interest on bonds and mortgages during the year 1899 was over 4.73 per cent and that on stocks and bonds over 4.48 per cent.

Substantially the whole of the life assurance business of the Society is now transacted on tables of premium rates based on the assumption of obtaining only 3 per cent. average interest on investments. It is obvious that this very conservative basis must operate greatly to the advantage of the Society, both in the way of security and in the way of profit to be made in the future on account of interest over and above the rate assumed, as all such profits will be credited to Surplus and thus tend to increase dividends to policyholders.

By thus changing the basis on which our premiums are calculated for new business, we are gradually changing the status of the whole of our outstanding assurance, because a very large amount of assurance based on a high rate of interest goes off the books every year, to be replaced by business done on the new and more conservative basis.

It is my opinion, with a pretty general knowledge of the condition and methods of the various companies, that there is no life assurance company in this country, or, for that matter, in the world, which is conducted with a more severe adherence to those fundamental principles than the Equitable, and this statement will meet with your intelligent indorsement, because most of you are in one way or another constantly made familiar with the operations of the Society.

The following announcement was made by the

President at the quarterly meeting of the Board of Directors: It is most gratifying to the officers of the Society to be able to report that in all clepartments our business is prospering, exhibiting most satisfactory results.

At the beginning of this year we inaugurated a new method of compensating our agents, involving less expense than formerly to the Society on the initial premiums paid on policies, and designed to influence greater persistency on the part of policyholders. We never had any doubt as to the intrinsic merits of the change, although the new departure was made with a full knowledge that one of the results might be a diminution in the volume of our new business. As a matter of fact, however, our new business is not only of improved quality, but is greater in volume to date than it was last year. Moreover, our gain in the amount of assurance in force during the first quarter of 1900 was $3.000,



Competition Open to Every Agent of the




best motto for the advertiser? If the Society issues one advertisement to-day, and another to-morrow and another next week, and if Woods prints something else, and Wisdom & Levy something else, and Shields something else, and Hazelton something else, not even one of these many things will be fixed in the memory of the people, but if this one thing that we propose to do is done by the Equitable and every representative it has, this one thing, that the Equitable is the strongest and best in the world (if you please), will never be forgotten, and when an Equitable agent goes to a man to assure him, he will say, “Oh, yes; I know that company," and then he will listen to what the agent has to say.

In the April number of the News “An: Equitable Agent" suggested that such a prize be offered, and his suggestion is now carried out. Send for the rules and conditions right away.

Here are some more communications received on the subject of “The Best Advertisement,” the discussion of which was started in the April number:


What your correspondent says about the Rock of Gibraltar is very true. But it has often occurred to me that there is a serious weakness in that advertisement. It is a mere dogmatic assertion to say that any financial organization is as strong as the Rock of Gibraltar. It may or may not be. If it is, some evidence should be produced to demonstrate the fact. When, on the other hand, the Equitable claims to be the strongest in the world and publishes a group of mountains, the height of each indicating the amount of surplus held by each company, it is seen that the Equitable peak must necessarily overtop all the rest because of its surplus of sixty millions.


In any advertisement that is used, does not the eternal fitness of things suggest the name of the Society—“The Equitable, the Strongest in the World?" Or a picture of the building, accompanied by the same or like words? I think such an advertisement kept continuously before the public would result in much good.

Of course, in life assurance you do not see the direct results, but you get the public interested in you and your company, and the seed is thus sown for a good harvest. Then when the agent calls he finds a ready audience.

MUST BE CONTINUOUS. In my opinion, there is only one way for successful, that is paying, advertising; namely, to bring a name or a decisive word continually before the public. Let people see continuously a short sentence with the word “Equitable" in it, as, for instance, "The Equitable is the Strongest Life Assu-ance Company in the World,” “The Equitable has $61,000,000 of Surplus," "The Equitable Gives Protection That Protects," etc. Have sentences like these printed day by day, week by week, and the result will be that to 500 out of 1,000 readers, life assurance and Equitable will be identical ideas. Like the Mohammedan and his creed—“There is only one Allah, and Mohammed is his prophet.” So this one word will become as an article of belief—“Life Assurance Is Great, and the Equitable Is Feerless."


In my judgment the suggestion that one short advertisement should be used everywhere all over the world is sound, and I suggest that when that one form has been adopted, it be put on the back of every pamphlet issued by the Society; on the back of all pads and letter sheets, and in the corner or on the back of every envelope, including that in which the Equitable Record is sent out, so that every business man in the community will, after a while, have branded on his memory that one thought or picture in association with the Equitable. Secretary Alexander has said that the best motto for the agent is This one thing I do. Why is not that the



Many Prominent Citizens and $100,000 Policyholders Join With the Society's Representatives in Honoring

the Equitable The Buffalo meeting of the Western New York agency on April 23 was a huge success. At the banquet in the evening about seventy-five representatives and invited guests were present. Among the number were the Hon. Wilson S. Bissell, formerly Postmaster-General; Rev. Dr. Aaron, Hon. Herbert P. Bissell and Judge Edward K. Emery. Mr. Edward A. Woods of Pittsburg was a welcome guest and made a very inspiring speech. Responses to toasts were made by the Hon. Wilson S. Bissell, Herbert P. Bissell, G. E. Tarbell, L. A. Cerf, Rev. Israel Aaron, W. S. Wright, E. A. Spencer, A. J. Robertson and H. M. Seeley. Mr. Tarbell in his speech paid a glowing tribute to Mr. Aird and his agency force, who have, in five years, raised the agency from one producing about half a million of business to one that in 1898 produced two millions, and in 1899 two and a half millions of paid business, with the volume now constantly and rapidly increasing. In this connection it is worth while to state here that the agency's April business was six times greater than that of the same month last year.

It was midnight before good night was said, and every man went away inspired with new energy and determination to increase the volume of business far beyond what it has ever been.

Extracts from

Official Circular-3 It may be that you do not think enough-that you are not thoroughly awake. Some men go all through life half asleep; others, until some tremendous event awakens them, and they develop their latent energies; and then the world admires and respects what is called their genius. Let us give a name to this awakening and developing power. Call it "Pressure.” Pressure makes those of us who are successful what we are. We all yield to it and obey it; and we would that your love for the Equitable, your recollections of the glorious victories won under its banner, and your re. sponsibility as co-workers in its service and supporters of its reputation in the future, should so press upon you that every latent power of body and mind should be aroused and perfectly developed in the discharge of the trust committed to your care.

From a circular of Henry B. Hyde,
dated, February 1st, 1871.

CLIPTOMANIA. The teacher of a village school examining a class of small boys in mental arithmetic gave this problem to the little son of an assurance agent:

“If your father should get $1,250 of premiums to-day, on which there was a commission of 25 per cent., what would he have?

"He would have a fit," was the quick reply.

Prospect-Now, what is the death rate in your company?

Budding Actuary—Very steady. One death to each person right along.

HARD TO KILL. "How are you, Uncle Si?” said the editor of the Oldville Weekly Bugle, grasping his oldest subscriber warmly by the hand. "You still appear to be well and hearty."

“Yes," replied Uncle Si. "I guess I'm about as tough as they make 'em. I've been readin' your paper mighty nigh forty year, and I'm alive yit."-Chicago Tribune.

(We don't know why the above clipping was sent to us. Surely our correspondent doesn't think it applicable to the News. It certainly isn't, for the News has been in existence for less than six months, and it couldn't be expected to kill in so short a time.-ED.]

“Have you realized anything yet from your investment in the Exalted Order of the Supreme Suburbanites?"

"Yes, I've realized the truth of the saying, 'A fool and his money are soon rarted.'”



Growth in the Institution's Business Made the Increase Advisable—Preponderance of Equitable Life Interests in the

New Board.

At a special meeting of the stockholders of the Western National Bank yesterday it was voted to increase the number of directors to a number not exceeding twenty-one. The following new directors were then elected: Martin Erdmann, of Speyer & Co.; John F. Dryden, president of the Prudential Insurance Company; Henry M. Alexander, Charles T. Barney, president of the Knickerbocker Trust Company, and Luther Kountze, of Kountze Bros. C. Ledyard Blair, of Blair & Co., is another practically new director, only having been elected about a month ago.

Among the old members of the board are James W. Alexander, president of the Equitable Life Assurance Society, which Society is one of the largest stockholders of the bank; Gen. Thomas H. Hubbard, vice-president of the Southern Pacific Railroad; Brayton Ives, president of the Metropolitan Trust Company; Chauncey M. Depew, Mar. cellus Hartley, and other prominent men. The capital represented by the various members of the board is more than $600,000,000.

The increase in the number of directors was deemed advisable on account of the greater growth of the bank's business during the past few years under the presidency of V. P. Snyder. The sur. plus and undivided profits have increased from $285,000 in 1895 to more than $1,500,000 at the end of the first quarter of 1900, and the deposits have increased from $12,000,000 to more than $40,000,000 during the same period.

The officers of the Western National Bank are as follows: V. P. Snyder, president; James W. Alexander, vice-president; Marcellus Hartley, vicepresident; H. A. Smith, cashier; C. L. Robinson, assistant cashier.

The Board of Directors comprises James W. Alexander, Charles J. Canda, Juan M. Ceballos, William N. Coler, Jr., Chauncey M. Depew, Marcellus Hartley, Thomas H. Hubbard, Martin Erdmann, Henry M. Alexander, Luther Kountze, James H. Hyde, Brayton Ives, John Howard Latham, James H. Parker, John E. Searles, Valentine P. Snyder, Sidney F. Tyler, John F. Dryden, Charles T. Barney and C. Ledyard Blair.

Of the twenty directors eight are also directors of the Equitable Life Assurance Society.


DIRECTOR OF THE EQUITABLE. At the quarterly meeting of the Board of Directors of the Equitable Life Assurance Society, Mr. Valentine P. Snyder, president of the Western National Bank, was nominated to fill the vacancy in the board caused by the death of Mr. E. Bone dinot Colt.

. FABLES FOR AGENTS. VI.The Stocking and the Trap. That's one comfort,” said the Old Stocking, with a sigh, as she gazed at a large hole in her heel.

"What's a comfort?” snapped the Rat Trap from the corner.

"Why, that it's never too late to mend,'” answered the Stocking.

"Stuff and nonsence !" exclaimed the Trap, "I used to live in an Insurance Agent's office, and one day a man came in smiling, and got off that same old chestnut to the Agent. But after a while he went into the Doctor's private room, next door, and when he came out he looked very grave, and I heard him mutter, 'Too late! Too late!'

Moral. —You can put off to-day what you can't always do tomorrow.

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