New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-06-27

come to New-York and make an independent IN
vestigation on his behalf on the other ha da
II Superintendent Pierce and AtorneyGeher s ~
cock are TO be taken authorities. the peopie VI
this State. whose companies are seeking hst ths
opinions of all those other States are of no yaue
10 the holders OF life insurance poles; Nc
absurd and II Is understood that PRESIDENT h.-
d the o PROPOSES 10 "''' ' s,.. Including
Massachusetts whose Insurance Department stanIs
second none. and in PROPOSING 10 Pus pull in,o the
hands of the Commissioners Of those states M;
Mccall shows aggressive determnatton 20 yes, al
foreign officials All OF wnch "a nave sau - sui Iii
sound business doctrine that the wonder o , ar ~
the Capitol doors of the several states lot si''i"
WbGe nm air of considerable retcence Is main
tanned among the authorities at the Capl'ol ~ - -
plain to who Is familiar with the .lleoaS for an
supervision In insurance that This request lol az
opinion from the Attorney General OF this STATE III.
dcates other purpose tnan a snlple ~ Wr Nc
Calls letter to superintendent Pierce does not ASH s
for an opinion to ne pr0p Primers Of Other states
He asks Superintendent Pierce no question: .I1oS
ty svidsntlv thought that his personal opinion
and the opinion of the trustees or MS COMPANY We
% Comm ssloner Of this State himself he prob
ably felt that he fairly competent 70 pas raro
70 accent the findings OF these Commissioners nor
did ne ask him to take part In the eXamlhation'
an opinon from the General will cause the
knowing ones TO smile. particularly those VINO nave
a knowledge OF Insurance affairs as conuuGteu a.
the lower end of Manhattan Island Ihey WIZ pt rS
ably nudge each other and say Il told you So ,.S
average layman however VINO Is uhnd Ian ~ Mai
the details OF Insurance management VIII ASK Wlal
all the fuss is about anyway and why snor h M,
the insurance companies be SUBJECTED 10 IN. -
any rate assuming in adyance thai c S5n sp
companies will be backward about counting euon an
investigation 1t IL perfectly pam [Ias in ad-
panles might endeavor 10 protect themselves III a.
soncrs from other States. and this may throw a
possible sde-light on the action OF superintendent"
However this may be- no one can doubt th a IN IN
the States named the combined cerIni, ,i IN 1ssti
gated will be Of tremendous value TO tnat LII,
pany No matter whether the Attorney az
Of New-Yor State holds that such certlnctle
has legal force, the average plain eVergn nay
citizen who has been for years inNssLs that an
Endorsement b> the Commissioners naheu ~ Inc In
best possible guarantee OF the strength ana IN
tegrity OF the company producing that indorse-
II may be that this departure will lead TO
den and by these or other States FOR nves, ,ii
ton OF the affairs Of other New ork cT on pHn,c
II Is to be hoped that II Will 80 tar az tnc orn
knows there is regular liie-insuranSe Voin ne
pany organized under the LAYS Oh ba yne s affairs
honestly and fairly investigated at any .lie h, a.
n Inv pG any The heory that every other state
must as n matter OF courtesy. accept the opinion
located IS danFerons and the Commissioner of any
State who In any way, takes cNcertion or pres,ii,
| another state 10 investigate on his account mis-
concclves the mission OF his Office .,.,.,ot,,s
AZ 20 the methods and condition of any great cor
poraton. These suspicious have been fostered Oy
/ \ certain kind Of secrecy which has been thrown
| about the operations OF corpora ions-espe'
/ Reinsurance companies. Al such conauct mas
been an Invitation 10 eVe~y legislative blackinaer
and 10 every practical politician. ard the amount
! OF poIicy-hoiders' money which has been illegally
/ sn.nt FOR tho purpose Of killing obnoxious and
dangerous LEGISLATION principally In Ab2ny wou ,
! make Il total that would not look well IN print
/ President Mccall Is rapidly coming to be recos-
nzed az opposed 10 all APPEARANCES OF secrecy; ~
favorlng the fullest Information At any time when
properly asked for. and as bitterly opposed 10 the
! payment OF dollar for blackmail however re-
! specially IL may be levied.
Mr. NicCalls position Is an almost absolute
guarantee Of the findings Of these seven COM
missoncrs. 80 ,.,,,,
But what especially interests the public Is Why
| this hostility Why this attempt 10 discrcdit the
opinion OF other states and. incidentally. what IS
apt 70 follow