The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-06-22
1900 1901. 1909 1908, 1904. 1905
So 700 s27,rno $500 $1,000 $4,000 $4,000
$500, la,.n 3ioo9 2t,Wc 1000 100
.JUo) 2n,ON ?OND 10000 2O,0m oOOOO
l2.WO i2,CH .....
7;n 500 5000 5000 5000 5000
&C.. ,.. .... 10000 1000

inducing executive officers and heads OF de-
partments and even clerks 70 sign petition
against the vice president, and that he has
been instrumental in circulating literature
criticising and slandering certain officers Of
the society, in direct violation OF a resolu-
ton of the executive committee;
-On these charges ! find that in the year
1900 n new system was inaugurated, by which
the percentage of first premiums on new
business allowed TO agents was reduced from
80 to 30 per cent This made 1t very difficult
for the field agents to compete with those OF
other large companies, who allowed their
advances to them were increased in order
that they might live and continue In the
service OF the society. I doubt il the in
creased advances amount TO as much as
10 per cent. of the first premiums on new
business saved, and therefore the society
Ia not loser.
-Nr. Tarbel swears that he has not even
connived at ROTATING but that on the con-
trary he has always denounced and tried to
stop It, and no evidence has been adduced
In support Of this allegation by those who
made it.
-Mr. Tarbell admits that during the last
few months no has been allowing to agents
four dollars per thousand on new insurance
In addition to the regular percentage, and
says this was done after consultation with
and approval Of the president. That may
have been an error in judgment, but there
Ia much excuse for Mr.. Tarbell In striving
to keep up the business OF the society ana
retain its agents
1T appears that the sum OF 4l35 900 paid
Mr.. Tarbel was computed in the auditors
department as the amount due him for
| his committed commissions and no evidence
has been adduced showing that he was
ov s2n 1. rh., d.,;o. ,h.. h. x.. in,+ru.
mental in or encouraged the circulation Of
literature in criticism OF other officers OF the
society, and no substantial evidence APP
pears in support of this or the other charges
! preferred against him.
INvEsTMENTs.
Il think it important that the next Legis.
lature should take into consideration the
life insurance companies and esta blish a
standard OF investment. AS to just how
far or to what extent they should be re-
| strcted in their inve stments | am not pre-
pared to offer an opinion at this time.
Doubt less that question will be studied
and thought out by the time of the next
annual meeting OF the Legislature. There
can he no quest ion, however, of the wisdom
of prohibiting the investment of the funds
| OF life insurance companies in subsidia ry
monoyed and business corporations con-
trolled by life companies which occasion
che carrying of large balances for the
benefit OF those companies and for the
stockholders who are largely associated
in the management of the society.
THE suggestion that these large balances
were carried for the purpose OF enabling
the society to avail itself of the oppor-
tunity to purchase securities at a low price
is not sustained from the fact that large
1903 and 1904. when securities could have
been purchased as much lower level or
the money loaned at much higher rates
than were being paid by the AFFILIATED COM