Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1905-09-25
ATTENDS CONVENTION OF lNSUR-
ANcE COMMISSIONERS.
SEEK MORE SECURITY
Officials of Many States to mite in
Effort to Procure Laws Requiring
Best Collateral for Loans From In
surance Funds-Several New Com
panies Licensed.
Madison, Sept. %.

Insurance Commissioner ZenO M.
tains this week to attend the 36th an.
nual session Of the naIIonal conven,
ton of insurance commissioners,
which will be held at the Mt. Wash
ington hotel, Breton Woods, N. H.,
during the week commencing next
Sunday. The commissioners from the
west and northwest will met. in Chi
cago and go east in special car on
the New York Central road.
1 Because OF the recent revelations in
pected that this session Of the com
missioners will be the most important
convention ever held. One novel
feature of the meeting will be an ex.
ecutive session, something which has
never before been a part OF the pro,
gram. Commencing Thursday after
noon, Sept. %, by vote of the execu,
tive committee, the convention will
hold an executive session at which
matters pertaining to the internal
can be presented by any member for
consideration and discussion.
Commissioner Host is chairman OF
the committee on assets of insurance
companies, one of the most important
committees. He and his associate
members have devoted considerable
time to collecting data and statistics
to be used in their report. 1t is said
that the recommendation which they
will make will not be received very
The class of securities they Will ad>
vance as permissible for companies to
hold as assets, as a prerequisite to
securing a license in the several
states, will consist of first class or gilt
edge securities. If the several states
will each enact law proviuAng that
insurance companies shall invest
only in the class of securities recon.
mended by this committee, there will
be no opportunity for speculation on
the part of officers and directors, and
there will be no loss to The companies
for depreciation.
The evils in the business or life In
surance will be taken rp and thorough.
ly discussed. Since the enactment OF
the law in Wisconsin requiring actual
accounting, apportionment and dis
trlbutiOn of surplus at least every
five years by life insurance companies
transact1ng business therein, the COM
missioners Of many of the other states
have taken strong stand for and
recommended to the legislatures OF
their respective states the necessity
OF similar law. The insurance COM
missioner of Louisiana has gone
further than this. He has come out
for actual annual accounting and dis.
tr1bution to policyholders and says
that when once an accounting ap.
portionment and distribution of sur
plus is made, there can be no legal
confiscation of the policyholders'
equities. If his views be adopted by
the commissioners in convention,
and such a law enacted in the
several states, the insuring public
will then secure life insurance
at actual cost. There will be no con-
fiscation of the funds of policyholiers,
widows and orphans as there has been
in the past, when in some instances
there has been as high as $15,00O,OOO
each year confiscate from the policy.
holders and benefciaries of the 38 or
40 life companies transacting bust.
ness in Wisconsin.
Capital stock in life insurance will
receive it's share of attention. The
life insurance companies transacting
business in Wisconsin, having capital
stock, are paying dividends of from &
to rs per cent. Very few of these
companies claim to earn over per
cent on their investments. By paying
these large dividends to stockholders,
the profits returned to policyholiers