Truth. [volume] (Salt Lake City, Utah) 1901-1908, 1905-12-30
THE INSURANCE SITUATION.
An Experts Opinion on the Insurance
Situation, With Timely Sug-
uestions to lawn akers


attention of the American people to-
day and that there are many points
connected with it that are vitality i'm
portant both to the policyholders on
the one hand and on the other to high,
minded legislators who desire to sec
the interests of the people protect
ed, we requested friend to prepare
statement touching some of the
most salient points now at issue This
gentleman, who is high-minde1 con
scientious scholar, is peculiarly well
fitted to speak intelligently on the
question, as for several years he has
made a somewhat close study of the
whole field of insurance. Indeed, long
before the present exposures of rot
tenness in the big Three" insurance
companies of New York, he predicted
to us that such revelations as have
come to light would be made if thor
ough exposure of the inside workings
of these companies could be brought
about. Since the investigation of the
companies. our friend has followed the
subject with the closest attention. He
is, therefore, in a position to discuss
the question as an expert. In reply
to our request, he hands us the fol-
lowing, which we take pleasure in lay
ing before our readers:
ed | have recently read some
where that the New York Sun has
charged Odell with receiving person.
lilly $4,000 of the corruption fund
from life insurance moneys. 1t may
be found that the corruption Families
even to this extent, but cannot nam
the copy of the Sun in which this allie
cation was made.
"(2) 1t should be pointed out that
so enormous corruption fund as
100000 from one company in very
few years, and the absence of proper
vouchers to account for the expendi-
ture of this money in any manner.
leaves the president of the New York
Life, John A. Mccall, legitimately
open to the suspicion that money that
could be used without the return of
any vouchers, may in part, and in
large part, too, have gone to pay that
villa named Shadow Lawn That
expensive folly may yet cast its dark
shadow over the New York Life and
its president. The people are ceas-
ing to be astounded and are becoming
81 lnulSHdnl lHdI L never saw any
thing like it,
"(9) 1t should be noted that taxa
ton has reached the most exorbitant
excesses in Connecticut and Wiscon-
sin where are located two companies,
the Connecticut Mutual and North
western Mutual Life, that have
plagued the New York companies
most by good results. Has there been
an attempt to reduce these ANNOYING
results to policyholders, by the use of
corruption funds to promote legisla.
ton unduly taxing those companies
in their home states? Does it not
look exceedingly probable?
90 There is a lamentable lack of
clearness in our best daily news
papers. A note in advance of the pub
LEGATION of Saturdays issue of the New
York Evening Post announces that it
will contain a discussion of the de,
ferred dividend business as opposed to
straight life That is an ignorant
| statement. 1t is very unfortunate that
our best-intentioned editors have not
a better grasp of the subject. Walter
Wellman, in the Inter-Ocean and in
the Review of Reviews, falls into SINH
lar blunders that lame his best inten-
lions to contribute toward an honest
understanding of the present situation.
In an editorial about six inches long
| in the New York Evening Post last
week, it was brought out that the
| New York jfa 10 intancal,y boe+;Ia -