New-York tribune., 1905-11-03
INSURANCE POT SETTLING
MANY HOT DISCUSSIONS.
Dissension Arising-Mr. Morton ON
Pending Equitable Report

Recent conferences of the legislative insurance
committee, it was learned last night. nave Dec"
marked by several sharp discussions, ana ie
vote has been recorded on more than one occa-
sion when the question of probing certain IN
surance topics came UP for debate This is De-
lieved TO be one Of the reasons why, as toio
exclusively in yesterdays Tribune, Assembly
man Ezra P. Prentice. who is an active member
of the insurance committee and candidate for
reelection in the 25th District has been marked
for defeat by persons interested In change Oh
the membership OF the committee.
II Mr. Prentice should lose and his position on
the committee should be assumed by another'
the committees report might be open TO legai
attack on the ground that not all the committee
men had heard the testimony. 1t Is expected
that the committee will be unable to finish lts
work this year and that the passage OF anothel
appointive resolution by the next legislature Will
be necessary.
From three independent sources the report has
come that Democratic workers are offering votes
for both Mr.. WINS and Frank D. Sturges. who Is
running for Alderman In the 18th D1strlct on the
Republican ticket, In exchange for one hepup-
ucan vote Tor Augustus T. Docharty, VINO Is
running for the Assembly in opposition to Mr..
Prentice. l.,
For some time Mr.. Dochartys boast that he IS
certain Of reelection has been puzzl1ng Repuo-
Iican leaders, who believe there lies In the ne"
movement an explanation of his confidence.
ReDnbljCauS have heard tndC CeTtdih oiS
interests now under investigation are nehino
this movement The five Assembly members OF
the committee are all up for reelection, but Mr.
Prentice was thought to be the only one "nose
reelection was possibly vulnerable go ;,
After James Hazen Hyde shall have tesuneu
before the committee it is considered entlIeiy
probable that Jacob Fl. Schin VIII De asheu "
resume the witness stand.
In his address at the celebration OF the
twenty-fifth anniversary OF the Western Sa..s
Pennsylvania agency OF the Equitable at Puts
burg on Wednesday, Paul Morton PRESIDENT Oh
the society, announced regarding the pending re,
port of the sOcietys expert accountants thar al
the socfaty's assets were on hand. Some or
the real estate had possibly been carried at TWO
high valuation some of the bank ana rus
company assets had been valued too hlSh on tne
basis of what they might be sold for quickly,
but the changes in valuation would not reduce
the societys income and the reductlon IN as aus
ministratve expenses, If capitalized, would more
than countarbalance any apparent reductlon' IN
the soceity assets. Mr.. Morton SAID the SO
ciety's management was violently opposed 10
rebates Either insurance too high, COM
missions too great, or rebates shouio CEASE d.
together.
orously against all kinds of strike" leglsla-
ton. 1t would be the societys policy not 10
the long it would be better off standing
steadfast for principles and not bowling to ex-
pediency, even If In some instances the society
should meet with unfair even vicious, laws.
1--WE much prefer to be struck down than
to be held up,' he said.
Mr. Morton predicted that nothing in the way
of previous reforms in America would do more
ultimate good than the recent Investigations OF
life insurance companies.
William II. Truesdale one of the two members
of the Mutual Life's newly appointed committee,
said yesterday that the failure thus far to select
a substitute for Effingham B. Morris would not
interfere with the progress of the committee
work.
Mrs Hamilton, the wife of Judge Andrew
Hamilton and her two daughters will arrive
here to-day the Cedric. 1t is not believed
that the "Judge'-of legislative insurance fame
is aboard the vessel. Judge" Hamilton Is
said tn he returning here by way of Canada.