The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-08-17
President Holds Confer
enCe at Oyster Bay
and Plans Action:
WILL CALL UPON
CONGRESS FOR LAW
Supreme Court to Be Asked to
Pass Upon constitutionality Of
Proposed Government Super
visionBeck Chartered a
Special Train to Keep
Engagement.

OYSTER BAY. N. q, August 1s.--
Federal supervision OF insurance was the
subject Of a conference at Sycamore Hill,
80 important that one OF the participants.
James NJ. Beck. special counsel for the
Z MUTUAL Life Insurance Company, OF New
J, York, missing the regular train from
Long Island City to Oyster Bay, char
tered special train from Long Island
to meet his engagement with the Pres
( ident. The parties to the conference were
!. tho President; Senator Dryden, Of New
4 Jersey president OF the Prudential In
surance Company, and Mr.. Beck. 3&s
At the last session OF Congress. SEN
i ator Dryden, who is recognized as an
authority upon life insurance, introduced
"a bill In the Senate providing in brief
Il for supervisory control OF interstate In
surance business Ny tn eBurcau OF Cor
# poratlons. It was along the lines of
I. This measure that to-day's conference pro-
3cceded. The President is known to be
b in favor Of Federal control OF the in--
surance business II It can be Drought
F apOuL OBSERVATION-DISCLOSURES. W 'iolActs ~ Cu'
( be is the point yet to be determined That
the Supreme Court Of the United States
eventually will be called upon to pass on
the question, there is little doubt
Dryden and Beck Talk.
At the conclusion OF the conference.
Z Senator Dryden said: $5s "a
~ opinion is that a very large BY
I'D majority OF insurance companies will Eii
favor ma tlohal supervision. Under ex-i5
f#S listing arrangements we are obliged ri
TO conform TO different laws and regl-
Iatlons In practically every State. The #
laws and regulations arc changed Fl
continually, and different insurance 4
departments place different ntcrpreta-
ton on the same laws. What snsur-
ance companies want Is a uniform.iM
harmonious and continuing pollcy. and y
that we believe is TO be had only n
through national supervision "Gs III ~
Mr.. Beck expressed the belief that IL
the subject were brought fairly before
the Supreme Court, its decision would
4 be in favor OF Federal control. lie sald:
''Thc Supreme Court never has been +
called upon to pass upon Federal n
statute bearing on this subject. In q
4. the case of Paul vs.. Virginia State
law was stlIlVuiFeu. AslS JuuS 10 2
that II Congress should enact law
providing for Federal control, II would
be declared by the Supreme Court to#f
be constitutional, / believe such a law n
will be enacted and OF course, our
nrst effort will be to obtain a decision
regarding 1t BY the United States
Supreme Court"
Will Call for Action. #
While no announcement was made o..
tho conclusions OF the conference X
any were reached. there is asrple author
~ FOR the statement that President Roose'
Welt will discuss tho question OF nsur-
nnce In his forthcoming message to the
& Congress In the light OF developments In.
tho last six months. Thnt. hc will recon-
mend the enactment Of legislation pro-
viding for Federal supervision OF inter-
state Insurance. there is no room for
doubt 8