Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-10-29

countries.
NEW YORK. October 2S.-President
Mccall Of the New York Life-Insurance
Company. when interviewed in New
York to-day, said on the subject Of the
readmission of the company 10 Prussia,
that negotiations had been pending for
year or more. In 1879 Che american
companies. with the exception the Ger
mania Life, were compelled by the rigor-
Gus exactions Of the Prussian laws 10
withdraw or give up their concessions
for Prussia 1t was believed at the time
that the rules Of the government were
severe. and in conflict with the methods
pursued in this country. The dispute end
ed by the enforced departure of the Prus-
sian companies authorized TO transact
business in New York. Last year COM
rnissioned d-Vice-President Perkins,
who is now in Berlin. TO secure rehear-
ing for US, and to assure the Prussian
Government that we were ready TO COM
ply with their requirements In every re-
spect Acting on this request, the MINIS
ter of the Interior appointed royal COM
mission 70 examine our analrs ana
standing I'm the United states. and the
Investigation was made this year. The
Royal Commission made a favorable re-
port. and the government actuaries, after
a thorough investigation Of our policy
forms and returns, and the liability
hereunder, Joined In the recommended
ton. Vics President Perkins, In his ca
bic TO me, states that the Minister OF the
Interior to-day reported on all the iacts
TO the Prussan Cabinet, and that a linan-
imous vote for our readmission followed.
The principal requirements from a me-
insurance company under the Prusslah
laws are:
81 a life-insurance company snal not
hold stock ia a private corporation.
80 A life-insurance company shall limit
its total mana cement expenditure TO a
sum not I'm excess OF the loading provided
FOR expenses in its premium income.
- A ufe-insurance company issuing
nolicies In which a division Of surplus IS
deferred beyond the second year shall
so keen its books that 1t can know how
much Of its total surplus (so-calied) Is
derived from the policies issued In each
year and those amounts must be shown
as liabilities in its reports TO the Prus-
sian Minister OF the Interior.
I'VE have agreed to carry out eacn ana
every one Of these requirements In
bringing about the change In Prussian
insurance matters, Secretary-of-State
HdX ana AiilbdS1uHOi w iiANNF a. A''t't''f
have aided very materially. Superlnten-
dent Payne OF the Insurance Depart
ment, has rendered excellent service also,
by permitting the Royal Commission
to have free access 10 his department
records and in urging better under
standing between the authorities OF this
state and Prussia. Baron Won Mumm,
Imperial Minister for Germany at Wash
ington. has also rendered efficient ser
vice. and has been most interested in
securing a settlement OK all difficulties
President Mccall further said: This
Is the first instance in which such q
commission has ever been sent 20 the
United States in behalf Of a foreign gov
ernment and II contains q suggestion
with regard 10 commercial questions that
arise between governments so far-reach-
ing that the President OF the United
states quickly recognized the possible
significance OF II, and repeatedly express
ed his deep interest in the commission :
work. 4 believe that the precedent thus
established In the action OF the Prussian
Government will show the way 10 q bet
ter method OF settling all commercial
differences. and In securing additional
and valuable privileges for American bus
mess interests the world over"