Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1905-11-23
LOADED" Premiums.

planatory of the allowance of COM
missions
Loaded" Premiums.
Tarbell said the system of loading
premiums was originated to insure the
ability of the companies to meet any
contingency of claim or expense. He
said the premiums are placed higher
than is necessary for safety and the
excess loading is returned to the
policy holders in dividends.
Last Years Surplus.
OF the $SO,OOO,OOo surplus of the
Equitable society at the end of 1904,
Tarbell said about $70,000,O00 is set
aside for preferred dividends, but the
company does not recognize any right
of the policy holder In the $70,000,000
until policy has matured or reached
the point at which it has earned its divi-
dend. This $70,OoO,OoO could be used
to defray any contingent expenses
that might arise.
Family Well Insured.
Tarbell said he and his family are
insured for about $625,000 in the
Equitable and other companies. He
said he received an agents commits
sion on this insurance and also receiv-
ed the renewal commissions.
HCantankerous Friend" Talks. y.
Albany N. Y, Nov. 22.----WdlliaIn s..
Manning, the retired commercial trav-
eler residing at 40 Lancaster street in
this city, whose name appeared as
"our cantankerous friend from up the
river" in the Nichols cores
pondence, Is white haired man, who
says his connection with life insur-
ance matters has always been In the
interests of the policy holders and for
the protection of the companies from
unjust legislative attacks. Mr.. Man
ming retired from business last Janu-
ary and Is upward Of 70 years of age.
He said last night:
eff they want to hear from me let
them call me before the committee.
can tell Mr.. Hughes few things.
The place where he should turn his
searchlight is not SO much on the Off
GERS Of the insurance companies as
on the insurance department and the
| legislature. The department Is much
to blame-usually to blame whether
| It's officials knew the things were go.
| lux Ou uOC"UCSduoO IL WY AAN ASt
they were incompetent"
Regarding the testimony CT John A.
Nichols before the Armstrong com.
mittee last night in New York, Mr.
Manning said he had had dealings
with him as d representative Of sever
al large insurance companies for
years.
Admits Getting Around Once Per.
'T received from him a retainer
said Mr.. Manning, "for opposing before
the legislature measures harmful tc
the companies and policyholders i
| is true that I am Senator Depew's
friend and that I got around once
year. Once year it was my custom
to ask Mr. Nichols if he wished to con
tinue the arrangement by which was
retained for the insurance companies
/ never was employed by the Equit
able.
s'My connection with Mr.. Nichols
has been one Of the purest kind, ant
never for any other purpose than u
shield and defend the insurance com
panies against pernicious attacks a
Albany altogether in the interest o
insurance. My duties, when called
upon, were to appear before any IN
surance committee and make argu
ments in defense of tie policyholders
| interests.
Never under any circum stances
have ever been enga aged in cfferins
any other inducement except leglti
mate arguments before Legislative
committees. always have beea OF
posed to those who are called corrup
lobbyists. No legislator ever existc'
, or does exist to whom have ever OF
fered anything in the shape of bribe
nor have ever had a dollar to disrrih
ute for such a purpose"