New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-02-07
ALBAN \.
TIE MUTUAL LIFE's METHODS.
oc,,tvNIs IN Defence or THE REBATE PLAN
rrronF 1IfE ASSEMBLY JUDICIARY COMMITTEE


.,,.,,vxrs IN Offence or THE REBATE Plan
rrrony 1lfE ASSEMBLY JUDICIARY COMMITTEE
fry TELEGRAPH TO TtE TRrRUNE.l
Np,>y. Feb. 6.-RcprcsCntaGVeS OF the
,,,ol I IL, Insurance Company appeared before me
.s.oD,lv Iaiicilry Committee Tonight. and gave the
,,so, hat bad lead the company 10 offer rebate OF
90 nor cent 10 new policy holders. GcorF" " Andrews
pobcri S.waI. Joseph il. Ch"dte ana J" 6 I"" tPh
smoke in behalf Of the company.
AZ, Andrews. IN opening his speech, SAID IL thc com
had violated 1t, charter. u bad vie atcl tn. Law.
:, had eaopted the rebate system 50 "a % re-
t, n. business Other companies wcrc increasing
..ir commissions md thereby gaining policy
,liers Tho scouting ot new aud Younger
,,,,cv boil Ter, was absolutely H"ccsSarv The SSs-
-, adopted was not novel one. The comptHN
+h al -, resources found it necessary 20 meet the III
lou. e,,,ony Of he insurance. d,,th. by acN's'nG
or. toirrus, new blood and msrc desirable risk The
,,,py WAS also Wi ling 90 spread a Of, affairs ''i'r'
-, c,o,f, The roUu3I' pi ID t1c s1tu comm SONS
accents today that u dd b'toGc 'ar 'toui"n oi iAr
,, an raIir, ho irs should participate IN the FORTH
coming dividends instead 'i me-, ,>'[ '"".l3''.'.
sions. IN" nov men a. to--'; N".II 81 ,' '-''.'.
lie men who took out '...'r~ l'h wears ago.;
men Who m awhile hal bed s'r"tc " t,up ~ ut
h., doris ONLY 800 had distp rHN'o a." ne" '''' "l'
1000 bad approved II. Tie "h.r''rr '.!"'.' 80
Alu.ual and other c'ntt"', US ttS' NY g.. ,,3,n,,
Of iu,rtN--J commission '-'"'' -' 500, tI ',, .fr
the aat. system toe l"~.n.' SECURED zoe -','i' ''
80
coyered hat their rates wore '"n hca the rate. "r.
mod Nv The Northampton and '.rlir lAi.N
If III. averages Of NE, which h1I h'rn ''.il
NOT fo Pc correct. SANITARY and in''l'a ''.'H
had mere soc the average iouccv ~. .rd CO o''hl
fc co:nuslcs forud hat Trey W. -, ch4iE.n% 90" '
and were CONF rllcd 60 div'G, ti.if lt-' r''i- ""
te motley holders. Toe rob .t- Given nov jo''N.
holder. was equal to The dividend t"'' womb
r...,ys NJ me end ~ C1ch wear. fN~Y
No., Cy holder had vote u tuc choice ~ tEo Id-"'.
no GOV, rut1 sCr'p+r. TIE rcH r"Utlfs were ''l
"a ,al,d and binding tl. old pnlr"-. Tue power
ta make contract hNci ny law. II
Hc committee desired, the Manual would show ma
nfa.uui,ts were to-day paying dourie what tue N0-
nal now % q Tor business They might c'N lH' *
pcndure saaric. o. travelling cApcast 'ui Do was i'e
Jrserh H. Choatc said mat te responsibility ~ taking
care az trc vast business ot The cOmpaHY was
vested snrurNleTe lt WAS not m the i'k's-
lslu-c; if was not ~ tl' courts; but II Vas
An trustees chosen from and BY the pohcy-ho.ccis
,dl, CONJUNCTION for business the trustees ioNuh lhti
In, u.f 81 policy holder WIS RAPIDLY decreasing I'F
r s.at f they Couid closed their doors. instead
tv determined reduce their rates. ih' re- N'c e" 80
tcr cent for the first year. CARR out iii"n h" NE
whole life, would amount TO a tducUUu OF ABOUT per
cent. ,.. a.. e,o ooo
v,u.u cover the entire cost OF advertising me
new ulau. large chart. printed IN INE lIIhl 81
lately, and showing the financial Strength or al me
w,ursnc. companies had been very * cnSN"N COPIED
an, had uot ct paid better advertisement imam
m, conclusion Of the addresses Robert IT, ~&au tAr
chairman o. the committee announced that the COM
I1jtr vsuld be ready u he,I additional arguments on
fho -tliert n , x Thursday night.