New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-11-16
PLANS FOR RETALIATION.
INSTR .NCE COMPANIES WILL TRY To
SHUT OUT THE PRUssIAN CONCERNS.
rur ACTION TAKEN AT MEETING OF STATE
OBSERVATION-DISCLOSURES INSURANCE
OFFICERS VIEWS.

r,r ACTION TAKEN AT MEETING OF STATE
s,,prRINTENpENTs-AN INSURANCE
OFFICERS VIEWS
The leading life insurance companies OF tns 0,''
IA S,ato nave been reused to feelings OF deep IN
d,pnarion at the action OF the Hampurs-Nasueo'e
cn,r,rv IN asking James L. Pierce. as Superh
,rdant If Insurance OF this State. 20 permit II 10
do business in New-York. prominent insurance
oncer said of this: This action OF the "eri'''"
comnany is the coolest piece OF enronterv magma
Mo The Prussian Government under pressure OF
tho German insurance companies mace the Trans
action of business in Prussia by American eo'p"-
nc. 50 difficult that the Equitable Life Assurance
Society refused 20 continue to issue ne" pone,c'
and threw up its concessions the MUTUAL iii'
and the Network Life Insurance companies nave
only recently been driven out or PRUSSIA u! .'e
sana eh-handed and outrageous means Now LOT
these foreign German companies to apply LOT per-
mission 10 do business in this State Is aosoiu" a"
dacity and effrontery.
Superintendent Pierce has refused the apphcauoh
Of the Hamburg-Mag deburg company upon 'he pro-
test Of the large companies of this city Ten stare
superintendents of insurance met YESTERDAY ''e''
purpose being to take united action OF protest
The superintendents the guests OF stuart
Brown OF the New York Life Insurance Company
a, luncheon given in the Hoffman House peiore
the business meeting.
About a wear ago the German Government IN
formed the New-York Life the Mutual Life and the
Equitable Life companies that certain changes re-
gardng the requirements OF Insurance companies
had been made The conditions were such 'ha'
the Anercan companies would have 10 deposit larger
sums OF money TO protect polcy-hoder II 'he!
wished to continue their business The three com
panies before named withdrew their agencies, ana
later the Government informed the companies mat
their concessions had been withdrawn Secretary
of State Gresham protested TO the German Minister
Of Interior through Ambassador Runyon, but with
out avail
The object of the meeting yesterday was 10 Tor
mulate a plan of retaliation.
Those present at the meeting were Superintend-
ents Pierce. New-York: George S. Merrill. Massa-
chusetts; James r. Wadell Missouri; H. S. Dun
can Kentucky; w. II. Brnes. Rhode Island; S. w.
Carr. Maine; + A. Belts Connecticut; Mr.. Wander
poel. deputy New-York; J. +. Craig. Tennessee
Among those who were unable to attend but had
signifed their intention of abiding by the action of
the majority OF the State superintendents were W.
NJ Hahn, of Ohio B. X. Durfee OF Illinois. and c.
W. Brownell. Of Vermont The conference lasted
four hours and at o'clock Mr. Brown made this
statement:
1--WE have had luncheon, and foreign insurance
matters We're Informally discussed. | might add
that we have come to a mutual understanding re-
panies. and it is this-that so long as Prussia has
forced the American life insurance companies to
withdraw from the Kingdom, we shall see TO 1t
that the Prussan companies get no privileges
'0f course. the different States have different
laws and therefore general broad plan can
not be formulated. However, we VIII use every
means in our power to retaliate on the PIusSlan
companies Now mark you this does not include
any companies those Of Prussia. The other
German companies Will not be molested
How do you propose doing that was asked
"Oh. by several ways. In some States the laws
no.y permit do as would wish, namely. to
refuse to reicense the companies OF RUSSIAN a.
iegiance: in others the matter les with the state
Superintendent of Insurance Then again by egis-
lauon we can accomplish our ends our meeting
today was merely 10 see just how we stood We
find all the companies in favor of the retaliatory
meIoTes proposed and now 1t Will be left 10 the
In ~sdua, States 10 apply the remedy
All the Prussan companies throughout the United
will he informed of the proposed refusal TO
rellcense them some time in this month and then
the strife will begin. for Il Is contended by some in
surance experts that the action proposed at yes
terday's meeting cannot be carried out.
There Prussian life insurance companies in
this country and only few fire insurance COM
panes. Only of the latter is we.l-known-the
Prussan National In the various States, however,
tsere several small concerns which. If this
proposition is carried out. will be wiped out.
II 10 said they viii fight :he matter in the courts.
At the meeting yesterday all the large American
companies represented. but Mr. Brown re-
fused TO tell who appeared for them.