New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-03-09
INSURANCE IN CONNECTICUT
LEGISLATIVE INVESTIGATIONS.

| IRON STAFF CORRESPONDENT OF THE TRIBUSEl
| HARTFORD, March Tt just about year
| ago that remember being present at hearing be-
| fore Legislative committee, upon petition of
sundry polcy-hoders in the Charter Oak Life, ask
ing for investigation of the affairs of that
pany by special Commission to he appointed by
the Legislature. Opposing the petition Messrs.
Furber, Wiggin and White, of the company's
officers. Mr.. Furber, who made the argument be-
| fore the committee against the petitioners,
was uncommonly eloquent on that day. He
urged upon the committee the peculiar claims
of the company as representing the interests of
| thousands of widows and orphans whose funds it
| held sacred trust, and whose whole depend
| ence for support it was, and he SAID 1t would be
cruel injustice to them to take step in the appoint
| ment of this special commission which could not,
| he assured them. do any good. but which must of
necessity affect injuriously the standing of the
pany. and consequently its business and the inter
ests of policy-holders, by exciting groundess
| suspicious regarding its sOlvency and weak
enlng the confidence of the public in
its management. When he spoke of the
vast interests involved, the gracious charities
ii diiused the distresses it alleyaed, the sweet and
blessed influences II radaed and the tears it dried.
and begged the committee not to 60 f0oling round
the dearest and most sacred interests of humanity
with uncalled-for and frivolous conundrums it
was enough to start tears to the eyes OF the little
stone boy who stands with his back to the street
and no clothes on, in the group the front of the
Equitable Building, Broadway. There was pathos
and eloQuence and deep feeling and everything i'll it
to make weep. The committee controlled their
emotions, though not, think, without an effort.
The countenances of Furber, Wiggin and White
seemed preternaturally calm. but l caynot doubt
that when they got back to the office and thought
e no xUid nd ed I'M heir
voices and howled piteously. As for me, who was
at that time pohcyholder, l
completely taken captive by this appeal that
surTendered-my policy, at the earliest opportunity
The sensitiveness to investigation manifested by
the companys officers reminded me of CONVERSE
tiOn had few years ago with an officer of an In
surauee company, concerning the Congressional
Investigations then i'll progress. He deprecated
these very strongly; said they could do no
possible good but, the contrary, their effect
upon the public mind in destroying confidence
and creating an atmosphere OF suspicion and dis
trust was pernIcous IN the extreme. | didn't
quite understand why he should be so earnest about
it until some time later learned that of these
Investigations that undermine public confidence
had knocked the roof of his Office and he had glided
softly away Europe to avoid the rigors of the eli
mate and the incemency of the weather. am con-
vnced by these and few other occurrences of sim
liar character that i'll most cases where people de-
plore Investigations, they know what they are
talking about.
A PERPETUAL POLICY HOLDER.
Do not understand me as intimating that all those
who have opposed or are now opposing thorough
and searching investigation of the system and
methods of life insurance management, have such
cogent reasons for their appeared TO opcr-
ate in the cases above mentioned. do not mean TO
jump TO the conclusion that everything that Is con-
ceaed is necessarily dishonest, or that men must
be corrupt because they shrink from exposing
10 public view their business transactions
individuals or corporations. try, too, to keep IN
mind the exceeding probability that the managers
of these insurance companies who are, for the most
part gentlemen of character and standing in the
community. are thoroughly honest, even though
an not able to and understand all their opera
tons. When they begin on course of explanations
usually little algebrac. and confess was never
strong algebra-I keep along with them as
far as ! can, and then drop ont. leaving
them to 90 the rest of the way alone. But because
lose sight Of them, do not mean to suspect them
Of croOkedness. merely fall out, discouraged, and
try to think that they will come ont somewhere.
And vet there are times when think might follow
their mathematics little closer If they didn't
distract me with their conversation, and then | am
almost invaribly accompanies the arts of legerrit-
main. These people confuse very much
with their "expectancics" and their loadings
and their participating" and non-partlclpating
policies and all that sort OF thing. i tired Tor
twelve years get something like a clew to 1t from
agents. Being insured what they call the pre-
MUM note plan, found every year my premiums
were going up and the amount of my insurance
going down. And every time got a notice would
al, -
So | annually tackled the agent with,
"See here, | don't understand this" Aud the
agent-do you know, think the average life nsur-
ance agent is one Of the smost remarkable phe-
nomena in the economy of nature-thc agent at one
grasps handful Of circulars and amanacs and
blbeads .and blotting pads and calendars, and
intimidation tables of various SIZES and begins to
shuttle them up, for all the world like fellow about
TO "open q little game" and he says: :" Well,
YOU see you began by paying 50 much,
ana giving your note for so much, ann your
cash premium was credited. and your note was
charged M and then your dividend on the business
came in and was deducted, and the interest on your
note was charged up, and then you add up tie lace
Of the note and the interest on the hOte anu tnal
with the annual premium. makes 50 much, from
which YOU deduct the return dividend, ana tlat
leaves you for this year cash premium now
due much, with note for balance OF premium
and accrued Interest," so that you VIII
see upon moments examination that you
are really getting your insurance lower han any
other company can-and by the way, lets IS SEC co
what Is your present age fyOur expectancy OF lie
So Nv this time throw up my hands and cry,
There! therel stop! never mind! Life Is to-,
short for this kind of thing. How much is 1t r. and
pay and 90 away. TINS having been my experience
a. moi cv,hOldeT do not need add thatl prctcndto
no consideration as an expert when Investigations
are in progress. have listened to two or three
explanations of what seemed to be very much
tangled set of circumstances i'll connection with
some of those companies, and the only CONCLUSION
have reached with regard To them Is thaV WHO
ever enters upOn one of these investigations, lean