told, $70,212,453. Of this sum total there was "deposited in trust companies and banks drawing interest"—at the close of the year:
| Equitable | $25,617,668 |
|---|---|
| Mutual | 22,439,396 |
| New York | 17,731,710 |
| $65,788,774 |
the balance, $4,423,679, being on deposit without interest.
The above aggregate represents 71.7 per cent. of the uninvested interest-bearing funds of twenty-eight companies—leaving but 28.3 per cent. for the remaining twenty-five (in which, by the way, is included $6,801,789 of the Prudential, as large in proportion as the funds of the Big Three, with which it is associated).
This sum, at the two-per-cent. interest allowed by the trust companies, returned to the insurance companies $1,315,775, while it earned for the trust companies in the different speculations in which they were engaged, from five to twenty per cent., or an annual profit of $1,973,663 to $11,184,079, over and above the interest paid the insurance companies for its use.
But who owns the trust companies? you ask.