New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-02-11
TIE INSURANCE INTERESTS.
MEETING OF THE LIFE INSURANCE AND ThOsI
CoMPANIEs-AN OPEN INVESTIGATION DE-

CoMPANIES-AN OPEN INVESTIGATION DE
MANDED.
In pursuance of call issued by representa-
tlves Of certain Life Insurance and Trust Coinpnn7'
who signed the petition to the Committee on iSuIao
OF the Assembly asking that the sessions OF sad oop
mitee may be open to tho public. meeting was heiu u"
No 156 Broadway yesterday at p m. to consider "pa
further action should be taken "o protect tho interests
Of the Companies and OF the public Ihero "cio "o-
tween twenty and thirty companies represented M
follows: Widows and orphans Beneht SOCIETY y
Charles H. Raymond. President. NGoo'oOo; national
life New.York-Edward A. Jones' s1,ooo'0O; Diooo
Mutual Life-J. A. Harlenburgh. Nce'PTeeldeht w.
200 oOo Commonwealth Life-J. Plerpont. President
sa75 900; homeopathic Mutual LIED. d. T. Marehail
President s275OOO; Equitable Life-Day end Aiexanuer
Counsel. S12 100000; North American Lfe-N d. Morgan
President si75O.O00; New.York Lfo-Wiliam Ii. Beers
sI3OOoOoo; Standard Life-James L. Dawes. Vice-Pres
dent and Charles Opdyke. s260OOc Anchor Life-E. C.
Fisher President S25OOOO American Tontine Life-Gen
William H. Ludlow President, $4,000; World mutual
Iife-s75, sOOOOo; Hope Mutual IAfe-Willam Ldsali
s17JOb Great Western Life-Robert Bage' President
s,ooOL; Metropolitan LncIames r Dow P o. Ilm
$4,000; Mutual Life-B. A. NcCurty. s5l@oO"; UNI
versal Life. H. Bewley. Secretary, S.oU,oW ,,,h
Unon nomination OF Mfr. ~ d. MORGAN OF tho horth
1onc Of he Gcrmania Life was elected President Of the
meeting and Charles IT. Raymond, President OF the
W,dows' and Orphans Benefit Society, Its Secretary
Mt Raymond read tho call Tor the meeting after when
Mr. Ludlow OF the IGnine LIE prgSned t N The Wntn
ne who was unabe to attend account ~ accident:
To Crpan Of The mating n 0rofr' Of ne Insurance aAH
DEAR Ss We ecre Informed coun, ,t 90 the presents
i%n u p,o as Of & STATE to ,br coee Legr,
ting tbs oy smsmaer Of !baI Co%9ie o 70 SS
expected iA the reply would have beea reot,d " @
a.. rttag soa have bees ofBoay Informed q e oeshoa Of u,
astouy expected The reply not here add u '?nd agp.r TO We
1aS r.. ,',Id f lo S SS ne Of sasa 1ssaas
rtsnes the interest," Of LIE Ins.nce end 70 ne IraP
snent meeting to tSs their ao1 be hls tuau
sppoinsg u Committee to discharge such duties Ia their
behalf they nay den nscr,,al' s9d pr'fr ,, rd tho
following resolution: . -, ,, -
luaues e pri Of 'he opAAe' 'hA' Tue
sessions oftie Committee BE- open 70 toe rubic =,
receive srh reply Ray be made b7 The assembly
pssis. ss ,hey insr dses beceosary aud proper"
Mr.. Morgan said lie had not aualyzed me rr-olntloh
Executive Committee OF Five with absolute power to
look after and the great interests Nth eJ
represent He thought the first step that me C3nhlee
should take III the absence OF reply was to call ahoheF
meeting " Life Insurance and Trust Interests, -,
Mr.. Alexander. counsel Tor the Equitable Ihr' noVfu
ns an amendment to strike ont the second part oi H. Tor
10 hardly believed that single company Iepreernten
here authorized by The bOiIi OF ri'ees ~ co.,iu
such an arrangement lie thought 1t should he worried
empower tho committee TO cal another m'esg'
aftor a reply had been made 10y the Legislative C"un,I
The appointment 81 committee 20 receive FrpB
lature intended 10 act Ia bad faith and II II DID, 10 pn
cal party could afford 10 take unfair means aSa-t hucH
&
presumed that the oJcot Of the LEGISLATURE ~ ths mater
honorable and just, aud thhS lhtie vas Le C'I'-
pauy IN TIE city that afraid 81 an * uoh pro-
Vidcd it Il Ia public, with an opportunity 10 reOuI lH"se
M BcWIcy Of the Universal Life thought did not ar-
near 70 nave been sufficiently considered me iuterprea-
lion which the public would have put upOn lhls btcihg
10 looked 10 If il either confession OF weak
ness Or culpaDIty upon me part OF iAe CoMp.HE 10
saw no IrvasOn why II WAS necessary 10 take any
action at all IN this matter lie 40 reason either 10
object to the manner IN which ne Investigation va go
ing He did not believe the Committee was a. BLACK
solving the meeting without further action.
Morgan replied that nothing had been SAID against
investigation. Ito thought que companies "oHid al
Mr.. Bcwicy-Some gentlemen here consider II m nt-
tack upon Life Insurance. The most That can los said
of IL Is. that 10 il attack upon Company and now
Gy are under the harrow they try to get other com
uanics e. help them out OF the fix.
mir Iudlow-THere has been attack ci;her upon the
Legislature or IRE people who have come down hgis
have jnsty taken alarm attae mannerat the manner
understand you!-n winch TINS i"NtstIIAllo1 nus .erI
the public pulse, against the mode. think
Inc Teprsentatives OF all the Lie Insurance and Trust
Companies In this city have united 3D. petition to i.ls
Commence Itself 20 Ibe oyer Of fair play Justice and
equity. We have received reply 10 that application.
NcdoA't know what j. going on hessuhie efcrJ tlhSis
jroplrdze .hcn by taking any false step. m the matter.
We don't meet here 10 throw out Iu-inud "as against the
mutual protection. IN thai spirit shall vote Tor ihlt
M pgy associate counsel for TIE Eouitabe hon said
that was sry that they take steps their PRO.
lection; they should band together aud, If attacked
wrUngfuy, light 1t out take all means necessary and
proper to defend themselves Ee ddus believe III lying
doUa aud being over.
Mr. MUrgai{t possible that in Our desire 10 hit the
OvcrshOJ H. He then asked TINT tBe rcso-
LUTON previously offered might be suspended Tor pre-
hnuary one, = uicn be gave as follows.
WrTds Cynuce hos been lated br the Assembly Of the
Legislature Of ~ tie aias Of the Life lsraHc
AID CClys-ss, pONer ~ ead for
therefore
Jss,uef o. this meeting les the dghi
z! Insurance and Trust Con of
an their b4irs whether sisr
b., made siih sbd shat iuVgoas tie
Companies be represented by counsel II deemed desirable
Mr. Morgan continued that he had Just had paper put
IN hs hand saying that this meeting represented assets
the amOgDt OF tT,s5j0O0. The resolution then
carried alter which the other preamble ana resolution
carried, the latter being changed 20 the following
form;
Iesod Coms.,te, appointed br tie
consider wh 20 he taken o1 The Life nsuT'
pa holders dpo.IoIs suJ report be u1ro meeting
u bis Bosn. n be bE thetl
The following gentlemen were appointed the ETccu-
tive Committee: W. II. Ludlow, Presdeut Joutine lfe;
~ d. Morgan President, North American Lie; w. IL.
Peckhan. President Guardian Life; W. II. Beers Ylc-
President EowYork Lfr j. A. Hardenburgn, Vice Pes-
dent Globe Life The then, aitcI passing vote
thanks the Underwriters for the or their roOs
adjourned
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