The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1905-10-09
rne INSURANCE SITUATION.

President John A. Mccall OF the New
York Life. appears to be attaining a
aational importantly.
The insurance commissioner OF Mis-.
souri,. w d. yandiyer, announced The
other day that unless Mi Mccall re.
signs frora the presidency OF the insur.
snee company and repays the funds
which the commissioner believes to
have been diverted for political pur-
poses, from the trust fund Of the com.
pany. the company's charter in Mis-
souri asiii be taken away from It
The insurance commissioner Of Ne
vada has slready promulgated an or.
der refusing to allow Mr. McCalis
company to do business there. Me
Call says that he will fight the Ne
vads case 20 the bitter end-that he
viii get out An Injunction restraining
the Nevada commissioner from TAX
ing such action,
The insurance commissioner OF Colo
rado also thinks Mr. Mccall should re
sign He sent Mr.. Mccall telegram
to shst effect recently. telling the lat
ter that unless he did resign the New
York Life could do no more business in
Colorado. SO much in earnest was the
Colorado commissioner that he over.
looked the trlfiing detail Of prepaying
the charges on his wire TO New York
a-a they amounted to ss.40.
We suggest that while the insurance
commissioners mentioned are quite
justified in their anger and resentment
at President Mccall Il is scarcely res-
sonable 10 them to make the policy
holders and agents in their respective
states the victims OF that resentment.
Mccall and some Of his associates in
tie realm Of high finance should be
haied into the courts and made 10 anS,
wer personally for their actions; but
Mccall Is not the New York Life,
which Is solvent company. and Mt
to weather all storms In knocking
the business OF the Life IN their states
these western commissioners are not
greatly contributing TO the ousting OF
Mccall; they sre merely making con
fusion for the same people whom Nc
CAN has been, making trouble-the
real owners OF the company They are
hurting the business OF the insured
masses 10 whom the money belongs.
Coolness and temperance. above all
things. should be preserved in the face
OF the current insurance revelations.
Because there are McCalls and Hydes
in the companies It is not necessarily
true that all the officials are MoCalls
and Hydes. Enough has been done by
the New York legislative investigating
committee. and probably viii be done
by Jerome. 10 put an end to mal-a8.
ministration Of money which really be.
longs TO the policy holders Tor some
time 90 come; and TO force the insur-
ance business upon better basis.
That Is what Is wanted II is a Wild
eyed radicalism which would take ad-
vantage OF the present agitation 70 do
anything detrimental to the business
as a whole. The officials responsible
Tor the conditions which have been
revealed should be ousted aud punish
ed-but il is iliocy to attempt TO hurt
business and the countless beneh
oiaries Of that business simply because
some Of the head men have gone
wrong" 10 the past.
The irregular conditions In the world
of high finance should be relentlessiy
exposed and the responsible parties
should be stripped OF power and pun
ished Bur the very fact that condi
tions have been shown 10 be thus bad
calls for sanity ia the work OF reform
The big Insurance companies need men
Al the head with a nicer moral sense
han has been displayed by the Me
Calls, and they need supervision OF a
more effective sort-federal superYi