The Birmingham age-herald., 1905-12-30
INSURANCE AIRING
 WILL FINISH TODAY Numerous Exhibits to be Pre- sented at Last Session lSELIN TAKES THE STAND President Stokes of the Manhattan Says His Company Pays 1e Per
 Cent-OId Line Companies
 Are Finished.
lSELIN TAKES THE STAND

4Ntn IOlhb OcGtIliOeT GJs-A llu lllt dii- nouncement of the legislative committee on insurance investigation tonight, the investigation of the last of the old line companies was completed. Tomorrow the last day of the committees session will be given over to the presentation of ex- hibits that have not heretofore been pre- pared by several companies, and these are so numerous that they will not be read for the record, but after introduce tion by the witnesses. will be marked for Identification.
 Today the. examination of the United States Life Insurance company was conl- pleted dnd the Manhattan Life Insurance company was taken up. President Stokes of the latter company was witness. The last old line company taken up was the Life Insurance Club of New York. This appeared to be a system of securing in- suranee without agents by means of ad- vertising. In the examination of it's president, Robert Wightman, it was brought out that the system is antago- nistic to the larger companies.
 Adrian Iselin Testifies.
  today, Adrian Iselin, of the banking firm of Iseln & Co.,, member of the finance committee of the Mutual Life Insurance company, presented a statement of his participation in underwriting syndicates in which the Mutual Life Insurance com pany also took part. He was not required to testify further today
 President John P. Mum of the United State Life Insurance company WAS called his company.
 MT. Mum said that his agents were paid 75 per cent of last years premiums and per cent on the renewals for ten years.
 More than three-fourths of this com panys business is in deferred dividend plan, about per cent of the business is on the annual dividend plan.
 Henry B. Stokes, president of the Man haitian Life Insurance company of New York followed MT. Mum.
 Pays 16 Per Cent.
 MT. Stokes said the capital stock of the Manhattan company is $100,00O, on which g per cent dividend and per cent interest are pair, or 16 per cent in all. The board of directors consists of thirty six members. He said no political con tributions have ever been made, nor had any legislative expenses been incurred The company's legal expenses for last year were s2l or. Neither the company nor any of its officers, said the witness, has ever been interested in any syndi- cate participatons.
 Mir Stokes is insured in his company for s75O0. Neither he nor any other officer has ever received any commission from his own, nor any other company, he said
 Mir Stokes salary Is $lS,000. In addition to salaries a sum is distributed among the officers annually by authority of the board if the business warranted 1t. rms sum averaged for ten years about 5000 Last year Mir. Stokes received of this fund S1397. and in the present year up to June 1 he has received S2b3S. This sum is calculated to be about 3a per cent of the gain in business
 In the course of the examination of President Stokes, District Attorney Je- rome conferred with several members Of the Investigating committee.
 Salary Committee Old Institution.
 George Haven, a member of the finance committee of the Mutual Life Insurance company. corrected his statement of yes terday that the salary committee of the Mutual was appointed by President Mc-
 
 committee was appointed by the finance committee about twenty years ago.
 Richard Wightman. president of the ln- surance Club of New York, testified that this was an old-line company. MT. Wight man was formerly free lance agent of the New York Life Insurance company, and later went with the Reliance of Pitts burg where he wrote twice IS much business as he did with the New York Life His compensation with the New York Life was a 5 per cent commission, and nine renewals at ' per cent. from which he realized about S7000 month, and from which he paid all expenses. He later organized his present company. The com- panys capital of $100,000, he said, is paid up. and it has no liabilities or death claims.
 With the exception of MT. Wightman' s examination, the investigation of the old line companies is finished, and adjourn ment was taken until tomorrow, which will be the last day of the investigation