New-York tribune., 1879-02-01
The MUTUAL L1FEs NEW PLAN.

The MUTUAL LIES NEW Plan.
InE COMPANY DEFENDED 81 Ga>EIAL HusIrp-'
SUBSTITUTE FOR ME. sIsio>eoNs EL-oLUuON
Pu sENTEp BY SIR. SLOAN.
.lboH TIE REGULAR CORRESPONDENT 0r TIIE TEBrNLl
ALBANY, Jan. 31.-Ihe Mutual Life Insu-
rance COMPANY, ct NeW-loTk Guy, wd, the sun
j.ct OF q dopaic IL tho Assembly Today,
winch was listened to with more. apparent III
crest By tine members OF that body than my other
DISCUSSION tuat taken place tAis scar III tine cna
u,r Tie debate vas Induced hy resolution offered ny
,lr simon, d. oi N,N-Iors "a few Gay, ago,
in relation 10 the new method tie Mutual
has adopted 20 increase it- husur-e. III resolution
pref1ccd 10y preamble declaring TAFT the hrtuai
WIS Offering laDHte of 80 per cent To
oil new policy holders, thar uls rebate
Lad been pronounced Illegal, unjust and in
express vocation q. the charter OF The company
uy such eminent authorities as Professor Cray oi lar
ward College Ropes Cray, Lowing. OF Boston. b! al
me ATONE, Generals o The N,"-LugdEd states aiC
by ex-occretsry Br.sow %; that TIE officers OF the com
F,5p, OF 'nrir p6Icy holder" in oppo-i-iou To-
tus plan, aud were Otherwise " gross
cary Commit was instructed to examine into 90 Ihc
'egHn'y Of the rec-ul acuon ct the oihc,fs oi The
~ violation Of tDcir charter also whether
"a HlIg e Of ,be l to nlf, iGs.tivc action
whether the LrgIs aure has constitutional power
10 remove sucA officers u found Et-l'!.'
MI mousou cal Cd up resolution near tho close of
the moaning noui-, ana Hlinout m"k'ng h'j speech
asAed that II be ras-ec Gencr- ha-ied upon hearing
motion u,JauUs Itft nla seat III back aLI
eoi.t' ,..ls and 'desE. From that i,on he aG-
uIrssed The Assembly. lie spoke "s ioio"s'
GENERAL HJsTEp's SPEECH.
This resolution III It's pIcsent .rin ougat not to pass
ts House Inc preamble D. unworthy Oi tae consider
alton of honorable reputable meu The two together
false iu statement. prYus III lan-usg" and ridiculous
DO provision. ] propose 10 prove each one OF these
tire points, As 20 TIE opinion given, andJu-t now read
Al The ucsA by The Gers, desire 10 sly
Iu Response tuat Dwi-At Foster. late AUoucy-Gen-
.ral OF Aiassachusc,ts, and tie Gbcst lawyer
m iho state --tut. ub,o uely and in every particular
from tnr opinion OF Gray ana LOWING Gesie to say
mftn,r tuat the aDir,t lawyers IN >rv-N0.k have
gwen % ~ tuelr uuuacG uuu.Jn tna r trustees Of
the Mutual Lie insurance 'om.ahy IL adup..uE iL-
nue oil po,Icy, have exceeded tarir rgt-; have
not trcucaed upon OF tnc policy holders aud
uouC uotnuk NLcu NUulu I"iacf Ia. IA ainrh"blc
my an -t ',l,. a. 40 how c1l,,sr, ,l.,il cIlGuc
10 Du-iucs~ l. ,ue tneulcui baLA ut NcW-l"tk pays
.ci'ostor - yer 'e.i 7o' LoA,y uep",'eI 'ny ~
tan II as III lS 'aut, u the t-cmlc'l Luna ,l"i SAP
srcaf cpta.-t De- o7 villa H. hIe million.
your noue! ana We "iii gNe you1 per cent ior A.
tuc quest tou l. wHrtGcI The Ghrc'oIs 90 tnc Chemical
Bank hie thrrenN "olhs aA Jn! I" lno'e utPoSl'S 90
NOM tuey nave been pay .u5 . pei cent
Now, s Lne .acts alC thesr, VITA reference 10 dt,
reu4.e qu' stIou. DGfng tue years $50 le'O aL' /
l-17, u.u ,niOusAout tnc couAty thc Mc INSURANCE |
cou pan IOui. tnclr expenditures were Ia excess oi
t4cW income IL Vas uue 'ney 1to iereINe 'Lou-h 70
meet Claims against tucn Out II ms ue Of poicS
when evty cunildh! Mohu nc CoiLiclicd 90 smut IL
hly i,th Us lHN eothruts loI tHe purpose
i,s un~dil0nH, "iu lOt attempt l" carly "h
any IurtAGI, "Lc" iit cost OF gtlUhs /
Tue bus was greater t.hn the hiSl ess ltsrii.
1hr Autua1 Lie Inau. Ahce COMPANY c"hitestGS ne
ab'cst t INSURANCE Cuhtauf az '"' S4''e' -" - 90 -
fc-reGly lat suuhtVst Ahdu'"'i iu'''"Ioh III 'Hc
NUrid came 20 this uc'c'Elh~tlOA' th"t iIcS
would 40 what DINER coApdhics WeI'
dong; tnty would not pay salaries 10 agents
tnt. wound uOi pay travelling expenses tu Z
s.rnts-Wicn tuey never naI done. The! dele n4incd
lie, woIu not tie cOuIul-,iOl, To aScni, -
orrr .du4,, WeIe do.D- Whatever Uc, o,
.,o!Id ace rue ir.L reduction In ne ItcuIuI shOud
luulr ueutnt ot tnu new p"ic5 -no.der nm
Se.l. and % agent OF Dioh'E Aci'D-
"a that theory thcs Gri'FnIIgd fCr tLr IIHt t"'
leers. wD,u OI,s -ara4d tAci aiicr oc ssG', 90 '
lNc>--ur The ru. pose Ut !tlIrnl-..h- tn' 'd4.! =
iuclr cOmpanS ana keeping "a NJ 40 t.c.f uud4 a
l4.Nlucu lhAJ lury "O"-h It.'te ~
,ur cent or lur Wruhdm I" 'r p"4D /
uro assures. RetuY, ana ha Wt-rt "i
Itci tncy untr,d 10 uo W Lei uu more Than very Hc
,n, &c cvlIIaIy iuIou-. tAt WU.u Ids t'uc. Nh'.
,Ir va tsht uA vWI les' ave ,Wu I"i ta ou uj
me one tau IA l>0o ~ .-s'ted 'HIou, an Hsen.'
the ah1h I''o'' "a ~ -
i0N S,pt Ia Il 10, 3arv and laid
want 10 insure II ..'' Ia lh'' c"mi'hS, nut %nul
1o'. v an , ~ MN, ~ & ,,,i,li,,on tiij AZ AIT
Uou.a tcooI,e'i VA ..r.~lIN. -, VA a r,Uaie.