The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-10-29
REIDMITTED TO PRUSSIA.
New York Life Insurance Company Can
Again Do Business There.
.0nkcinI CnbLf D,innkch 10 TIE SLY.

BERLIN, Oct % The New York Life In
surance Company, on the recommendation OF
the Minister OF the Interior. has been readmittcd
to transact business in Prussia, The report
Of the Royal Commission appointed to visit the
United States and examine the company was
very favorable TO It, Great satisfaction is eX
pressed here at this evidence Of a closer CONNER
cial sympathy between Prussia and the United
States, which must inevitably lead to better feel
ing among the business interests Of both coun-
tries
President Mccall of the New York Lite In.
surance Company said yesterday: In 1895
Of the Gemanis lie We're " compelIed bv tbe
rigorous exactons Of the Prussian laws to with
draw or give up their concessions for Prussan
1t was believed at the time that the rules of the
Government were severe and in conflict viii
the methods followed in this country. The dis
sian companies authorized 10 transact business
in New York. Last year commissioned Second
Vice President Perkins, who is now in Berlin,
Prussian Government that we were ready to com
ply with their requirements in everytrespect Acting
on this request the Minister of the Interior APP
pointed Royal Commission to examine our
affairs and standing in the United States, and
the investigation was made this year The Royal
Commission made a favorable report and the
Government actuaries after a thorough investi
CATION Of our policy forms and returns. and the
liability hereunder Joined in the Teoommen-
dation
Vice President Perkins. In his cable TO me-
states that the Minister Of the Interior to day
reported on all the facts TO the Prussan Cabinet
and that unanimous vote for our readmission
followed The principal requirements from a
life insurance company under the Prussian law
are that IL shall not hold stock in private corpo.
ration, that il shall limit its total manag ement
expenditures 10 sum not in excess OF the loading
provided for expenses in its premium income, and
that life insurance company issuing policies in
the second year shall 30 keep its books that il
can know how much Of Its total surplus $50 called)
is derived from the policies issued in each ear
and these amounts must be shown as liabilities
in its reports 10 the Prussan Minister Of the Int
nOr We have agreed TO carry out each and every
one OF these requirements
IN bringing about the change in Prussian in
surance matters, Secretary of State Hay, and
Ambassador White at Berlin have aided very
materially. Superintendent Payn Of the Insur-
ance Department, has rendered excellent service
also. by permitting the Roy al Commission 10 have
ing better understanding between the author-
ties of this State and Prussia Baron Won Mumm
Imperial Minister for Germany at Washington
has also rendered efficient service and has been
most interested in securing a settlement OF all
difficulties
mission has ever been sent 10 the United States
in behalf Of a foreign government. and il contains
Il suggestion with regard TO commercial questions
that arise between governments so far reaching
that the President OF thet nited States quickly
recognized the possible significance Of il. and re
Of the commissions work believe that the pre-
cedent thus established in the action Of the Prus
sian Government will show the way TO better
method of settling all commercial differences and
securing additional and valuable privileges for
American business interests the world over"