New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-12-05

FINANCES WRONG, TOO"
armstrong and Hughes Tell Roch-
ester WeR of Insurance.

Charles Z. Hughes chief counsel to the legis-
lative committee investigating life insurance and
State Senator ". w. Armstrong, of Rochester.
spoke on life insurance at dinner of the alumni
of the University of Rochester at the University
Club 5th-ave and 54th-st., last night.
The Senator pointed out the good work the COM
mittee is doing. Mr. Hughes affirmed what the
Senator said and made a speech. in which he ad-
vocated the university life the life from which
to draw public men of the future.
Senator Armstrong introduced by Willis >.
Paine, former State Insurance and Banking Con-
missioner Mr.. Paine POSTMASTER. The Sen
ator said in part:
# there is any one thing which has been brought
ters it is that is credulous as TO believe
that the revelations of the investigation have pee
peculiar to the insurance business alone The same
condition exists in nearly all walks of finance Inc
in this country has been subverted from old rec
ognized standards of publicity and honeStymsu SUP;
fee of lasting good character and the respect OF
BY subvertng a great and good ambition r men n
have by tneir acts shocked the country. II II rs
continue we shall face fate over the preeiplce VI
believe that the legislature of this State is a
body which represents the virtues as wei as tale
you yo a are are Rather should we ken the
workings of life insurance corporations u 1,tn1
play. more freedom from hidden signals, and and
close formations and that NIL If wG a Mini
mum of legislation and maximum of publicity.
Senator Armstrong paid high tribute to Mr.
Hughes in closing.
When Mr.. Hughes stood up to speak the two
hundred men seated at the table shouted a hearty
greeting.
In part Mr.. Hughes said:
We are not here in this committee to tear apart
the regulations of a few men At this urIe We
are gratiied to look around and see the n1u
tudes who have not bowed the knee TO BaaI. ~ ~
scrutinize with than ordinary pleasure tLle
millions who adhere to duty and principle.
1t is a time for searching of hearts II Is q
time for repentance and for new resolves we heeu
a revival of the sense of honor. -
What we want is change in the burden OF pro-
The men who hold public office, who direct greaieo
corporations, who solve great problems nlusI &c
ready TO show clean balance sheet ana pI IEpae
to answer If called upon, the question, "I'ele
did he get it" 90 ,o+ m
the college halls? To the great student oody OF eur
colleges we must turn if seek the remedy Iot LOT
the evils which being pointed out TO us almost
daily
President V F Randolph, Of the Consolidated
Exchange said in part:
The burning question of not few business men
even outside of the insurance profession, Is how
much can l take and still stay out OF purSatoIIy
and the penitentiary?" If the limit were surely
and certainly marked, a large percentage OF men
would live up TO that limit %
DR.. Rush Rhees, president OF the crllIersftlS VI
Rochester spoke football. He said the future
of the game depended on whether or not the men
who play it can play it gentlemen
THE men who play football will nave TO play II
said -
Other speakers were Postmaster William r.
Wilcox. Grant Hugh Browne and Louis whey
the business manager of THE New-York Times