New-York tribune., 1905-07-27
SCOPE OF EXAuINATTON.
May Recommend Reduction IN In
Surdnce Premiums.

Rochester. July 26. Senator William ".
Armstrong has sent out announcements 10
his Senatorial and Assembly associates who
are 10 serve OF the joint legislative committee
which is investigate the life insurance busi-
ness IL this State that the committee wiu meet
for organization next Tuesday at II O'Clock ia
the Seaate library in the Capitol in Albany.
Charles Hotaling. sergeant AZ arms OF the SEN
ate. and Frank johnson. sergeant at arms Of
the Assembly, Henry Lammert. Assembly stem
ographer. and A B. sackert. Senate stenogr@-
pher. have been asked 70 he present At the open
ing session next Tuesday.
II Senator Armstrong; associates agree the
committee VIII organize - once and immedi-
ately proceed 10 New York. where headquarters
viii be engaged. counsel selected and prepare
tons entered cn for the Investigation. He has
already written letters 10 Governor Higgins.
Francis Hendricks. State Superintendent Of In
sUraRce Attorney General Mayer and District
Attorney Jerome. asking that they meet with
The committee az an early date.
Senator Armstrong said to-day:
So far as I am Concerned the Investigation
vi be entirely independent from any now in
progress. although there IS 10 doub, all win
tenq toward common end. Il VIII be a. thor
ough ana as searching IS II IS possible 70
make IL
: appreciate fully the gravity and importance
OF the inquiry. and I request that those "A no
have n their possession anv fnforruafiqr which
viii throw light or tle subject tender IL TO the
committee. I. OF any member cf the con7n7frrae
VIII De only too glad 10 receive letters contain
lng such facts o. Information.
-Ae l.-E3stgatlon VIII be commenced as 500 n
as possible and VIII De pushed along as raFi9ly
= Dpsa-Dtr 1ct II should be borne ia mind that
ne members cf the committee are bUsv mon
ana that thelr services To the State wiz he
without compensation, SO while We viii en-
ceaNor 10 Keep the inquiry as continuous and as
uninterrupted as is possible The Bile should
remember lhSt We are entitled to some con-
-.-sx--
must lot be neglected entirely.
Al our proceedings VIII be public and the in
Vestlgatlon Wiz De pursued without auv other
consideration than the discovery of sEch facts
As are necessary o. the framing Of new lsws-iT
-Such are deemed necessaTg--or such amend
-nenrs 10 the existing ones. 10 be submitted 70
The Legislature. viii insure 10 the polic-soIf-
ers that every cent they Pay In premiums over
and above what IS needed in careful and rru-
6ent management and the creation and protee-
tion Of necessary mortuary and reserve funds.
including safe and proper Investment OF sllcb
funds shah 90 to tler credit
We shall also recommend. II the facts Justify
Il, such reduction in premiums as NAV be
found proper. These are really the purposes for
which The committee WAS appointed and the in
vestigatiOr Ordere1-
/ Go not believe il viii be necessary 10 invoke
extraordinary powers, because the insurance
companies must know that IL Is our purpose 70
aid in the bringing about o. cOnd. lions which
are in the interest OF the life insurance com
pafies as Vel as in the interest Of The policy
holders.
We shall employ the verv best legal counsel
prOcurable. and We VIII give them our fullest
zupport in an effort 10 60 over The whole field
and investigate 10 the limit, without restric-
ton.