Equitable Life

For several years the Equitable Life Assurance Co. has been endeavoring to change itself from a stock company to a mutual organization without stock and controlled by its policyholders.

Originally, the Equitable Life was capitalized at only $100,000, the minimum provided for by New York State law. At first the shares were distributed among its directors for the most part; subsequently, they became concentrated in individual hands, and control of the Company passed in rapid succession from Henry B. Hyde to James Hazen Hyde to Thomas F....

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!