The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-10-01
ARE UP IN ARMS.
States of the Middle West and
South Aroused
Over the Revelations in the In
surance Investigation.
DEMAND A NEW DEAL
Or Companies win Be Compelled
to Pull up Stakes.
Commissioner Yandever of His
souri, Discusses Situation.
DEMAND A NEW DEAL

New York. Sept. 30.-With few ex-
ceptions the authorities OF every state
in the west, middle west and south are
up in arms over the revelation Of the life
insurance investigation and it is not un-
likely that before New York's Iegisla-
tive committee has completed its ln-
quiry that they will compel q reorgan-
ization OK the executive STATS Of most
of the big financing corporations. a
refusal on the part of the Insurance.
companies to comply in this respect
with the demands Of the sections oe
the country named will result. it is un-
derstood in the companies so refusing
being compelled to pull up stakes IN siA
the states that insist upon such action
A demand Tor A1cCallS resignation
and his restitution Of money diverted
from proper channels was contained in
resolution presented to the convention
of the national insurance commission
ers which adjourned Friday ii New
Hampshire.
This resolution was read by Commits
sioner of Insurance W d. Vandever
of Missouri, who was appointed by Gov
ernor Folk. The resolution was referred
10 a committee which reported back g.
substitute covering the insurance SIT
uatOn generally. The resolution reads
Resolved, That the national associ-
ati0n OF insurance commissioners hold
that ,any officer of a mutual life insJlr-
ance company who diverts funds of the
policy holders Of such company or
parts of funds belonging to thems Tor
political purposes and purposes that do
not come within the known view OF
law governing insurance companies or
within the known view of the charters
under which such company is operat-
ing has violated his most sacred trust.
And it is further held to be the sense
of this convention that such officer be
compelled forthwith to replace such
funds diverted and be comaelled to re-
sign''
Resolution Passed.
The substitute resolution in effect said
that it was the sense OF the convsn=
ton that we condemn the conduct OF
life insurance companies as revealed by
the inquiry now being held in New
York"
Commissioner .yandever is in the city
today and in an interview he discussed
the insurance situation.
4 said to them Friday, said Cons
missioner Vandever, chat they might
as well pass a resolution against the
sea getting rough In a hurricane. They
thought my resolution was too speclnc
too much 30 the point. meant II to
be to the point. That's my IDEA or res
oIutions. I don't for the life OF ne
understand what use there is in resolv-
ing that we condemn what everybody
else in the country has been condemn
ing and damning for months past.
II have not been insurance commits
sioner long, only since Governor Folk
appointed me a few months ago.
have been looking around and so I
have not got into touch with the COM
rnissioners of all of the other states.
Illinois is standing where am and SO
is Tennessee and there is Georgia
There are three or four more states
too, which are taking this situation
with a serious mind
If Commissioner Vandever ana his
colleagues are not going to remain here
they will be represented, nevertheless
Hamilton Dawes has been engaged as
snecial counsel to attend the insurance
inquiry and he will prepare the case
as it develops from day to day, for
wardins it to the interested commits
sioners for their action.