New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-12-08
4 GREAT CONVERSATION BROKEN.
THE CHAMBER or LIFE INSURANCE DIS
SOLVED.

THE CHAMBER OF LIFE INSURANCE DIS
SOLVED.
DECLINE or THE ORGANIZATION ~ NUMBERS AND
INFIUENCE-wIH THE FINAL ACTION WAS rAREN.
4 combination. in which hundreds of mil
lions OF dollars repre- lentei. been broken mp
Al meeting Of tn Chamber Of Life Insurance, in tins
city, on Thursday, resolution was adop cd decarin-
the Chamber dissolved. This action had been under
consideration or some time by Ia. remaining memb Is
Of the combination, bat tue matter hai been discussed
very quietly among themselves, aud mach surprise was
expressed yesterday Do some of tie leading insuTanc
men, who visited by TRIBUNE reporter, that the
acton Of the association had become known.
The first Chamber Of Tic Insurance IN the United
States organized in @GG but it died two years lt
Immediately following tn settlement In 1873 ~ long
aud bitter strife between the Equitable ani The Mutual
Lie Conpancs the cJnbnl;lJl li. uas JUST ceased 20
exist WAC organized The declared o5iccto lc Chamber
was u add strength AMI stability the institution
OF life administered upon sound principles by
cuperaion for mItu1l assistance and FOR the conduct
Of the business with economy aud the most favorable
manner Tor tue interests o. the insured" in deciding al
questions the meetings o. ;e Chamber each company
was cnticl p one vote Tor each 81 100000 and fraction
of chat sum IN gross assets h,d by IT, Twcnt,-our
compani signed te articles oi association, ana sac
number was subsequently increased 10 twenty -ulhc.
en- Mutual. of Hartford: Mutual life, Equitable.
Ncw-Nork Life, United states, Clone, Universal Metro
Companies of this city, the Penn Mutual, or PuIdcl
pima, tr Northwestern. of Milwaukee, and the National
ot the United 7aH. Ow tJ the manner of VoIu
four OF tie leading companies always able tJ
control tie action uf the Chamber. For some time p
lts power very great. and of the smaller com
panles were at loss whether they should ~ IN i
association controlled by those whom they mad aiwa3
regarded as their enemies, or hght openly against COM
blnnti0n with great odds sanst them.
In addition 10 the Executive Committee, there were
Committees on Law, Mortality Experience and Medical
Department To the Committee Law WAS referred
Tho subject Of statute law, aud oil life Insurance, law
ia general, with power To take such measures as
they deem s,iry 10 equity in tho
laws and On their administration" Much was
expected from the Committee Mortality Expert.
enc as 10 was thought The combined xpegence Of the
different companies, when reduced 10 proper foim.
wuuld be 81 great benefit 10 the business OF life
Insurance. OF late. however, the monthly reports
of his committee have not been furnished for
pulcltiou for the reas0n IL stated that the bust
ucs, Of the com pnurs duh and unsatisfactory
-ole res ects definite information could not bc OBJ
trd r.terday bat 10 thought the committee had
not done much business ~ late.
For sglne time tho Chamber has shown signs OF ap
p-,cpiug dissolution. one By one IA companies with
drew from the aasOciaCn Some oithOse VINO toOk an
active part m is management two or three
y..rs ago became either Indifferent rs 10 III
. or ayow odly opposed to its manner Of doing bus
ial.s. About year ago, TIE bylaws were