The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-01-30
THE INSURANCE FIGHT.
Efforts For and Against the Abolition
Of the Department.
GOVERNOR ROBINSON UNDER FIRE.
Replies OF Companies Whose
Opinions Were Invited.

portions than the antiInsurance Department sugges
tons in Governor Robinsops last message has been
exploded in Abanys political camp in ten years past
1t affects not only the Superintendent aud all his
deputies, clerks and representatives. but host OF
examiners experts and actuaries well ~ the COM
panies themselves. It requires special acumen to
discover that politics aud politicians at the bot
tom Of the movement against the Insurance Depart
ment and that politics and politicians also at the
bottom Of the counter-irritant. That tho Governor
and his friends determined to abolish the depart
ment, II possible. is certainty; that the Fish
Sloane interest is equally determined is also
clears that Of the stronger companies are quite
willing to place themselves in the ranks of the icon
oclasts clear. On the other hand. it is just
patent that superintendent Smyth is strenuousy in
dorsed by Speaker Mvord. Assemblyman Knowles
and many of the best companies in the State.
AN ASSAULT THE GOVERNOR.
That superintendent smyth does not intend to fold
mis- and abide events but proposes to carry the
into Africa, may be by the following extract
from speech made yesterday by Mr.. Charles r.
Knowles in the Assembly
When the Executive of the State. in his annual
message to the Legislature, seeks to poison the mind
OF the legislator against OF the most deservedy
popular. effective and honored departments of the
State: when the Governor of this grand Common
wealth asks us 10 abolish department that has accom-
pshed for the great insurance interest OF this State
ment; when he would rob the assured Of the only
lection they have against the irresponsible and worth
less companies that would flood the State but for the
existence OF this admirable preventive when, inhu-
onced by personal Or party consideration personal
prejudice, the Executive with stroke Of the pen,
seeks to destroy the good work OF twenty years.
then. sir. loyalty to principle, adherence to what
know to be for the very best good of all concerned
demand that raise my voice OF war1ng aye more;
within this State and in the interest OF every sound
insurance company native or foreign doing business
{1,t., f.la
against the adoption by this body of the recommen-
daton of the Governor for the abolshing OF the In
surance Department.
THE GovERNon AND '.THE WIDOWS AND ORPHANS
Besides renouncing the platform of his party His
Excellency seems to have changed his own mind on
the subject. There was time when he cherished =
very different opinion to the value and wisdom of
State supervision. hold in my hand the seductive
prospectus Of the Widows and Orphans Benefit Life
Insurance Company. 1t the public that this
company is "under the direction Of Board of Trus
tees comprising the most experienced. capable and
successful life insurance directors i'm tho United
States'-a statement which am not disposed to dis
pute since tho gentlemen speak OF their own rare quail
ihcations, and who should know better than they?
First this list OF trustees with the full decoration
OF the honors already accumulated. but since in
Comptroller of the State of New York" CHANGING
along the persuasive prospectus observe that after
setting forth their own title to public trust the next
claim to confidence made by these most experienced,
capable and successful life insurance directors in the
United States. with Lucius Robinson at their head.
Is that the company was incorporated under the
wise and rigorous insurance laws OF the State OF
New York;"
THE FIRST GUN.
The first gun fred by the superintendent in
sponso to the Governors recommendation that the
Insurance Department be abolished was circular.
already published in the HERALD. addressed to the
various life insurance companies. and requesting
response to the following question:
Is State supervision, conducted in the State of
New York. protection to the policy-holders, or
would their interests as well as those of solvent com
nan be IL 10
department were repealed and supervision abandoned.
and simple rendering of annual statement to the
Comptroller substituted in place OF present require
ments!
HOW IT LOOKS IN ALBANY.
Desiring to ascertain the pros and cons Of the
matter from official sources. q HERALD reporter
hunted the Superintendent up in Albany. Mr..
smyth discovered in the gloomy old basement Of
the State House He seemed to be in unison with the
surroundings. looking weighted with care and ner-
vous, like who feels he is the victim of con-
spiracy. Members of the Assembly and Senate made
frequent visits and INDUCED in talk about
"a big lobby" rushing through" &c. Piles of let
tiers from various insurance companies were upon
the Superintendents desk in reply to his questions
regarding the dcsirabiity Of State supervision. The
contents OF many of these have been published. but
it has been charged that he carefully avoided giving
to the press any letters adverse to continuance Of
the department
On the reporter asking to see all the letters in re-
ply. Mr.. smyth directed his deputy, Mr.. Mccall to
'select the letters from the most important
panies, and that gentleman did so, but lie neglected
to furnish the letters of the Mutual and the United
States Lifc--tEe latter company standing almost
Mr.. Mccall, on being asked to do so, furnished the
letter which is printed below, and likewise that OF
the Mutual Life refusing to give an opinion
sMYrH HAMILTON FISH,
In reply to question to the direct incentive for
the movement to abolish the department Mr.. Sinyth
said TT is personal matter Hamilton Fish de-
what is said. tits said that Hamilton Fish, before
he accepted the nomination for Assembly, wrote
letter desiring TO know IL I and
all my friends would support him for
the speakership 1t is said that the reply
ginning of tine session Mr. Fish applied to me to
my influence and that of my friends to elect Mr.
Myord. It Is said that Mr.. Fish. on discovering
this. and that he would have good places COM
mttces. declared he would go for me- 1t is said
that Mr.. Fish has declared that the Knick
erbocker Lifo Company makes answer to the resou-
ton calling for information that he will attack
that"
..Did Mr. Nichols, president OF tho Knickerbocker
Life Company. work for Alverd?"
Eyes. he did. and that's where he made very
great mistake. He never should have come up here
at all Now they propose to fight me on that re-
port"
be certainly uniavorablc p
~ don't know why but they seem TO think so.''
HE To STICK.
In Mr. Smyth's circular letter to the insurance
companies lac said that il the companies were OPP
posed to state supcrvsions he would resign, and the
reporter inquired how he Interpreted the answers.
'Why. they like it," said Mr.. Smyth "Thats
what they all say. and am going to stick shall
they will pass the b for they have got mighty
big lobby up here At work"
who are they p
"Thc big companies"
"But If the big companies all like State SUPER
vision, why arc they Spending money to get rid
..wcll, one big concern is doing it,"
"Aro you not aware Mr. Smyth." asked the re-