Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-12-30
Investigation Which Has Pros
duced So Many Sensations Is
Brought to Close
PREPARE FOR LEeasLATvaa
Vast Accumulation Of Testimony = s.
Submitted to the STATE Assembly sassd
Important Change. in the Insurare6
Laws are Likely to be the Final ssle-
suIt-othsr News. 8

New York, Dec. 30.-After pursa1nes
line Of inquiry into the methods oes
the life insurance companies IN thtes
state which, has covered q period vfs
nearly four months, the Legislative in-
surance investigating COMMITTEES VIII:
end it's sessions today. The vast ac-
cumulation Of testimony, which con-
tains revelations that have aAtonded;
the public, WI: at once be prepared ih
tne it rm OF a report to the legi3slsure.
The inquiry has brought forth mof6s
startling disclosures than any previous
proceedings laid along similar tines.
Like match applied to q haystack the
trouble arising in the affairs 0s the
Equitable Life Assurance Society ID
the curly part of the year started q
conflagratfon Of insurance expOSures
which to the public mind appeare In
conceivable. Evidence which descrlb@
I'd the Juggling OF vast sums Of money
Invested by pulley hold IS, methods o.
'g;sft" for personal vantage, s,hemekl
fnr financial gain and plans = be..
wildering intricacy for priva3e pronts
has been produced and will be the sub.
]ect of most earnest considerations 81;
th- legislators saal
Joel G. Van Cise, actuary OF tho
Equitable Life Assurance Society was
the first witness today. He had been
with the society thirty eight years. He
was asked If any management inter
fered with him and replied: Henry b.
Hyde attempted to have me make the
figures on dividends declared on de-
deferred dividend policies higher than
thought advisable. That was about
Vice President Alexander
ed the dangers OF this
persuaded Hyde to gi,
Salaries
Among the cuts in
Mutual Life Insurance Co. ii
have been made but not previol sly 40
nounced, says the Tribune, are those
of Robert A. Granniss and DR.. Walter
r. Gillette, vice presidents. Up to d
short time ago Granniss was dr.awino
$4,000 year and Gillette $4,000. sAS
the demand Of the Truesda1e commit
tee each has had his salary cut $10-
900 year. The designations Of 0ran-
Mss and Gillette from the Mutue9
board have been rumored from t1ane to
time. The cut in their salaries -
taken as an indication they Will i1ollE
their places.
George A. Sickles, q real estate AgenE
OF Buffalo, formerly OF the EQuitabl6si
told Of the manner in which Sage Tar
bell, vice president Of the Equitable,
prompted his agents.
Sickles told OF his conversation nVsth
Tarbell about rebating. This sugges~
ton was to secure the first premium.
The letters, he said, were to be written
to policy holders, and eventually the
Equitable was to pay the price for
these letters.
This, the witness said, was IN 19eS.
did you give rebates? asked Hughes.
''Well, don't think that ls . fair
question, do you?"
"Why, i think So"
Sickles appealed to chadrrnam AEsm-
strong. who said that no criminal ac-s
ton could lie, because Of the stafue
OF limitation. and Hughes asked 81 he
bought any letter. Siclsies said ne DID
not and that he left the insurance busi-
peso m that acconnt 81