Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-02-28
ARE NOT 0F ONE Mind
Plan to Reinsure the Southwest
ern Business Meets With
Opposition.
Large Attendance at the Meet
Ing and the Situation Thor
oughly Discussed.
REORGANIZATION Forces Came De,
termined to Prevent Trans
fer if Possible.

fer If Possible.
The members of the SOUTHWESTERN
who, to the number Of 100, met in this
city today TO decide on tlle future Of the
organization We're not all agreed upon
the course of procedure, and as in the
4Gency to fight any plan suggested
Those favoring reinsurance We're on
Rand ready to act, while many others
81 ere present who favored the adoption
Of some plan for reorganization. There
were still others who did not Seem To-
have their minds settled in favor of any
policy, were seeking information and
We're bound to have II.
Senator Ball, Of Iowa City, was
among those in the city today TO attend
the meeting of the Southwestern policy
Folders. Attorney Hewitt, of Des
Molies, one of Mr.. ISnudspn' legal rep
iesentatiyes, was also present, as were
several other attorneys who are meme
|Eers of the association, The attorneys
for the most part led III the discussions,
the policy holders seeming to. depend
upon them for advice regarding the best
course of procedure. The sessions were.
open only To those who We're members
of the association.
The east court room was filled TO its
capacity when the meeting was called
to order BY president Sackett. Four
Thousand and nine hundred of the 6,l00
ms mbers of the association were repre-
scented in person or by proxy. and win
this number ready 10 vote it Was.
thought there would b. little trouble IN
| formula ting action. The eritire forenoon
session WAS consumed. however, in dis
eussions and explanations Some Of
those who favor an attempt 10 reorgar-
Iizs maintained that thu company would
he in practically the same position ii t
lreinsured. escepially in a small com
ll,any Those favoring reinsurance.
pointed out that ii would be impossible
Ito secure business if / he company we're
lieorganized. because 81 the notoriety
Lille company had obtained thru the,
present difficulties Mr. Carney cilai-s
llsnged any one present 10 say that they
knew where new business 10 the extent
Eof one person could be procured The.
discussion was almost entirely along
these lines.
To bring the matter properly before
| The meeting a resolution was submitted
by Mr.. Smaney, ors waverly, that the
southwestern insure it's business II.
some good company a substitute for
/ this MAS offered 70 the effect that the
| COMPANY reorganize. In order to ail-
Tighten this members a statementsuf the
condition of the Southwestern at the
close of the year ending Dec 81 MAS
1 asked for and presented. This state
nlent showed that there is on hand cash
10 the amount OF st27.oO0, INCLUDING tns-
ldeposit With the state auditor, and that
from Dse. to the present the assoeia-
/, tion has lost 200 members By the lapse
( OF premiums.
Hon. j Il. Carney. OF this city. was
/ deisgated TO present the legal status O
the members ard the association. MI.
Islsarnes referred 10 the legislation efl-
acted that would permit of either reln-
| suralt,e or reorganization. bur the law
HAD bssn Interpreted to hold that il re-
ganization is attempted the eXlstinf,
contracts and rates OF premiums can
| not BIZ raised. The Southwestern. he
lexplained had cancelled out a lar u
number of the low-rate poitsies. but the
\ matter coming to the attention of the
state auditor and attorney general. they
| had held that these lnw-rate members
could not be rtesfsred with, and they
We're of necessity restored. This is Il
1, point that the supreme court VIII have
/ 10 pass upon, he said. and under the
! circumstances and in ordsr to prevent
! ong and expensive litigation with low
! .ate members he held THAT reinsurance
was practically the only plan open.
At the afternoon session the third
Point on which the delsgat4s wished 10
he enlightened was taken IN. This was
| in regard to what the members would
expect II it was decided To reinsure.
| Representatives Of the two companies
/ wishing TO relnsure the business the
conservative Life of California and the
! American Life Of Des Noines. were Civ
Zen the privilege of explaining their
| PLANS. the financial conditions Of Their
! companies, membership ana the bass
i oh which Southwestern members were
10 be received. This occupied consider
liable time and caused many questions 10
be asked. Up to 4 o'clock the questions
4 mad not reached vote.
one thing tnatWas noticeable was the
fact that Attorney Allen. OF Ioes Aloines
who was conspicuous in he. previous
meetings aud supposed to be working in
she interests OF the les Moines com
rany. kept in the background today and
had nothing To say. ATTORNEY Hewitt
who acted FOR Mr.. knudson in the in
Junction proceedings begun prior to the
meeting in January, took no part in the
proceedings There We're large num-
Der of bright minds and Well posted
men IN the meeting, however, who had
views and did not hesitate TO express
Them