New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-05-14
INVESTIGATING AMERICAN COMPANIES.
WORK OF THE PRUssIAN INSURANCE COMMITS
sIoN-ro EXAMINE THE AFFAIRS OF
THE MUTUAL LIFE AND THE
NETWORK LIFE.

The arrival here of two Prussan officials OF high
rank on an official mission. namely for the pur-
pose Of examining the financial standing or rev
large life-insurance companies and their methoos
Of distributing profits among their policy holders,
marks the relations existing between the Prussan
and German governments and the Government or
the United States. A prominent insurance man
makes the following statement Of the present status
Of affairs in the matter pending concerning
the readmission of American life-insurance COM
panies to transact business in Prussia
THE three American life-insurance companies.
the New-York Life, the Equitable and the Mutual
Life. received number Of years ago concession
TO do business in Prussia. A few years ago the
Prussan Government introduced more stringent
measures Of control and supervision. applicable TO
all insurance companies holding concessions in
Prussia. and these measures applied TO the report
ing Of the companies annual operations and their
management in general. While all other companies
operating In Prussia compiled with the new pre-
scriptions. the three above-named American COM
panies did not deem 1t advisable TO do so. while
the fourth American company. the Germania Life,
submitted to the new governmental enactments.
Thus differences between the three COM
panies and the Prusslan supervising authorities.
After long negotiations the result was that the
Equitable had TO withdraw from Prussia, whereas
the concessions Of the Mutual Life and the New
York Life to do business recalled. Suisse
quently, however. the two last-named companies
made application for readmission to Prussia
and made request that a commission be appoint
ed TO examine thoroughly their standing and meth
DDS Of doing business The Prussian Minister Of In
terror, Baron Won der Recke Won der Horst, com
piled with this request. and appointed a commits
sion, consisting of the referee in insurance mat
tiers the Ministry Of Interior, Privy Councillor
Won acknowledgements and the technical adviser
and mathematician Court Councillor Baron Mar
schal Won Bieberstein. also OF the Ministry of In
terror.
ION their arrival here last week both men went
Ambassador, DR.. Won Holleben and 10 the
higher officials Of the State Department Secretary
Hay and Assistant Secretary Hill. The commits
sioners afterward introduced to President Nc
Kinley, who received them most cordially Presi-
dent Mckinley assured them that the appointment
expressed the hope that American companies would
show their appreciation by affording all facilities
for unhindered examination Of their affairs.
ION their return to NewYork the commission
ers proceeded 10 make preliminary arrangements
to carry out their mission The affairs OF the New
York Life to be examined first, and later on
those Of the Mutual Life.
The commissioners went to Albany last Wednes-
day to pay their respects to Governor Roosevelt
and to the Superintendent Of the Insurance Depart
ment. Louis F. Payn. further object OF their
visit TO Albany was to collect data concerning laws
bearing on insurance matters and to become ac-
Quainted with the methods of insurance super
vision exercised in this State.
THE object of the visit to be chiefly an In
vestigation. as the commission Is studying ques-
The commissioners made assurances as to the
ultimate decision In the matter OF readmission OF
the companies to Prussia. do they expect 10
make any, as they say that the decision is to be
taken In Berlin. II is therefore impossible to say
now what the result Of this commissions labors
mi he