The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-03-07
WILL DRAW SURPLUS
TO POLICY HOLDERS
Wyman's Bill Likely to Precipi.
tate d Big insurance.
Fight

If the legislature should pass a bill
introduced in the house yesterday by
G. H. Wyman of Anoka a repetition OF
the big Equitable assurance society
fight in Wisconsin will be enacted in
Minnesota
Mr.. Wymans bill provides that mu-
tual life insurance companies shall
make distribution of their surplus as
often as is required by their charters
The charters of mutual life insurance
companies require that they make dis
trlbution of their surplus funds among
the policy holders at stated intervals.
Some companies provide a distribution
every two years, others once in three
years and others once in five. Mr.. Wy
mans bill makes five years the maxi
mum period.
Insurance Commissioner T. D.
O'Brien is said to be in hearty sympa-
thy with the purposes of the Wyman
bill, and its author declares that it SIM
ply requires compliance with the
charters of the various mutual COM
panies and which they have ignored in
the past.
Money for Policy Holders
1T will mean millions of dollars now
in the safety vaults of these companies
in the east and upon which they are
specializing to be distributed to the
money said Mr.. Wyman In speaking
of his bill.
An attempt made in Wisconsin to
force the Equitable to make distribu-
ton, according to Mr.. Wyman, ended
in failure. There the law says the
companies may" make the distribution
among their policy holders. His bill
employs the word SHALL" that there
may be no ambiguity about it.
Dp nf 4
prevent corporations making donations
of money TO campaign funds and charg-
ing it TO expense. His bill makes any
such contribution unlawful, and any
officer or stakeholder who consents to
a violation of the law is made guilty of
a felony, punishable by not less than
$1,000 fine or one year in the peniten-
tiary.
/. w. Bouek is father of a bill, ia
thered by the state federation of labor,
and aimed at the meat trust. After re-
curing that only the meat of healthy
animals at the time of slaughter shall
be sold, 1t is declared that refrigerators
alone shall be used to preserve meats.
Nothing of a deleterious nature is to
be used in the making of sausages,
and salt preservative alone is con-
templated in meat extracts.
Quail and squirrels are given a long
lease Of life under the terms of a bill
introduced by J. H. Morley of Steele. A
closed season until Oct. 1, 1910, is pro-
Vided for the birds and rodents.
New House Bills
H. F. No. 493: BY Dorsey-Prohibiting
corporations from making contributions
to political candidates or committees.
Elections.
II. F. No. 4s4: BY Timberlake-Appro-
priating $485,000 for new main building
at the university. University.
chapter 80 of the general statutes relat-
ing TO liens. Judiciary.
ii. F. No. 1876: By Oleson-Appropriat
Ing $500 for bridge in Pine county.
H. F. No. 497: By aig-Appropriating
$500 for road in Sherburne county.
Fl. F. No 4ss: Bv Bouck-To prevent
adulteration, fraud and deception in the
sale of meat and meat products. Public
health
H F. No 4ss: BY wyman-Providing
for the distributing surplus in mutual life
II. F. No. 500: BY Fanning-Appro-
priating $1,000 for a bridge in Olmsted
II F; No, sol: BY Morley-To prohibit
the killing of quail or any variety of
fish,
II. F. No. 500: BY Morley-To provide
for the consolidation of township mutual
insurance companies in certain cases. In
Sufance.
Bills Passed by House
Fl. F. No. PA: BY w. A. Nolan-Au-
thorizing the formation of corpora tions to
loan money on farm mortgages, to deal
In mortgages on farm lands, and to issue
and negotiate debentures thereon
s. F. No 1O9: BY Brower-Appropriat
ing $50, 900 for woman's dormitory at the
st. Cloud normal school