The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1905-06-28

AS al example Ol iOnS ulst0Hce
examination of life insurance COM
panies we beg to cite the plan in
PRODUCED this week by the insur-
ance commissioners of Tennessee
and Kentucky. If the companies
doing business in those States re-
spond under oath as extensively
as they are invited to do there will
be no need of. mourning travelling
expenses by insurance commission
ers and their retinues of examiners
to and from their respective State
Capitals. Here ia what Messrs.
Folk and Prewitt have asked of all
the life insurance companies tran
sactlng business within their juris-
dictions:
In view of the discussions and
injuries on the part Of the public
concerning life insurance and the
management of the great American
life insurance companies, We deem
1t enr duty. as insurance. commits
sioners Of our respective States, and
on behalf of the policyholders of
our States, to submit interrogation
les to you, designed to elicit full
information as to the methods of
management pnrsned by yonr COM
pany.
We request that you will answer
and attest to these interrogatories
at your earliest convenience, so
that we may have the same on file
in our offices for the information OF
the public and any policYholder.
l. Does any officer Of your COM
pany receive, or has any officer in
the past received, any personal
benefit from the purchase or sale of
securities by the company
2. Does your company control,
in whole or in part, any trust com
pany, bank or other corporations
If so, please give names and ex.
plain such control.
3. Has any officer OF your COM
pany received in the past, or does
any officer now receive, any salary
or other consideration from any
trust company, bank or other cor
poration or business concern con-
trolled in whole or in part by your
company, or benefited in any way
by your company?
a. With reference to policyhold-
ere having deferred dividend con-
tracts, please explain the system in
crediting to these contracts divi-
dend earnings2
5. Please explain the policy of
the company as to the character of
its investment of its assets.
6. Is it the policy of the compa-
ny to loan money on collateral Sc.
curities, and, if so, what class of
securities?
7. Please give the proportion for
the last year or more of the ex-
penses of the company to the ex-
pense loading.
s In this connection, please give
the salaries paid to the executive
officers of the company.
8. We would be pleased for you
to give any other information not
covered by the above questions as
to the conduct and affairs of your
company.
10. Please give the amount of cash
balance on hand, with the amount
on interest and the amount not on
interest reported separately on the
18th of each month OF 1904.
IL. Is there any agreement, ex-
pressed or implied, between your
company and any bank or trust
company in which you have de-
posits, providing that said deposits
shall not be drawn against at the
will of your company?
II. Have you any agreement, ex-
pressed or implied. with any bank.
trust company, corporation or indi-
vidual, providing for the sale or
transfer by your company Of your
advances to agents or agents bal
ances, by which the sale or transfer
of said advances or balances are
reported in some other way in your
claimed assets?
49, Are the dividends you appor
tion and pay uniform throughout
the United States for policies of
the same character and age2 If
any DISCRIMINATION is made, explain
fully the territory affected, the ex-
tent of the discrimination and the
reasons therefor.