Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-10-04
BILLS, BLACKMAILING BILLS.
Believes That Three Out Of Four Of
Those Introduced Are Of That
Character
THE MANAGERS REALLY TREMBLE
Beginning Of Each Year is a Veritable
Nightmare to Ihcm--Suggcsts
4 Remedy


Nav York oct t-John Mccall
rr,silo,, 80 ,,. y, ~ re-,
''"'' ""s
again called to TESTIFY before the spec
Gal legislative committee investigating
the liro msurapco ,or,p,risa ~ th,a
......,
''''. WIG" ''' '''''""' 90 '"' '"'''''''-
i"' were resumed today
For the first time since the ipvestiRa
tio, b.r,, I,,,,os ,y,ty.,,, ..,s,,oi,to,,
WIN MT hughes As couuSel Tor the
committee. conducted the examination,
Mr.. NcKccu. who has boeu stldying
,,, ,,.,,i..i 1884,, ., t...ii,. ...,.........
,'- ''''''"' '''' WI ''' "i' ''S 'l.'7
puslhes' opened by outlining to MI Nc
can the power and scopo Of the commit
tee and ssid its report to the lselsla.
IN, -,
'"'' VIII III no way n' Il"l'eu ny tne
testimony taken at these sessions.
Mr.. Mccall In answer TO questions bv
A.. Eoor ,.b,, das,r,,,o, d., ,l,,,u 49,.
system used III making reports 10 state
Insurance departments and also e1-
pIaiped tho mortality tables followed
-. ~. -,
Wy wv NV" ioiN '''' io'''e 'oI"-
pany
MI Mccall was questioned as TO sur
render values under the Massachusetts,
laws and also as 10 non-farfeiture laws.
he said the first non-torteiture law was
known as the law Of 1861 and was the
result ~ general demand that pol
icyholder should be remunerated for
premiums paid If the policy was sur
rendered before its expiration.
Mr. Mccall said company surplus
Is earned by @ less mortality than that
assumed u be probable and also bv
securing rate OF interest on money
and inve/ments better than that count
ed upon Ia the actuaries tables. Asked
as 10 the difference between govern
ment supervisors IN England and state
supervision I'm New York. Mr., Mccall
ga there was practically no govern
ment supervision in England The only
thing of this nature, he said was the
filing Of A statement by the insurance
companies with the board OF trade.
Mr.. Mccall then went into history
of ne Insurance in this state. telling OF
the greater number OF companies start
ed nom 1873 TO 1880 and OF the fail
ure Of most of them through eotraya-
gance and Incompetence.
Mr.. Mccall said that the Increasing
compensation to agents was a tempts-
ton for agents To rebate but Mr.. Nc
agents contracted not to do 50 and for
feited benefits of that system If thew
Violated theiE e E, re then
eral legislation. saying:
with the beginning Of every year.
dare say. IL is tho feeling Of every
executive officer. | know Il Ia OF my
self. that for the ensuing five or six
months OF the year we shall be badger
ed and harrassed 20 death In every
state I'm the Union by Introduction of
bad bills Of every kind. some time
men OF honor feel they have a right to
amend a law and their motives are all
right but mainly the general Insurance
legislation of This country emanates
from people who are deslrous OF striking
at Insurance companies 7 believe that
three ont Of four OF the insurance bills
introduced I'm the United states ara
blackmauing bills. The management
OF these companies really tremble IN
the beginning OF the year az 10 what
they have 10 encounter during tho
frs. six months Of the year.
"lt IN condition which I think your
committee can do much 10 prevail
against n lt Will but pass a law similar
TO INC MakhHtlhctlls lAN-hhlen mas
been very effective, / bellcye-that ev-
cry bill introduced shall be lodged or
reported IN the office OF the secretary,
Of state"
,t.,,fv ,,,. >,,,,y,,,, ,,.l,,,-r,,.-,
No0''''i' w NfFNDA INClbENI
New York, oct. 4-~Presldent John A.
Mccall, OF the New York Life lnsur.
ance company said before tho lugur-
ance inquiry begun today. fhat Inc
had received a telegram from
Samuel Davis. the superintendent OF
Insurance OF Nevnda. saving that ba
To consult Tho attorn sv-rer-
enl of tho state with A view OF possi-
BILE revocation OF the New York I.f,
company's license 10 do business I'm Ne
yada
He would act" said Nrr. Mccall
unless certain gentlemen dld certain
thluge that would require a consider.
able amount OF resignation on tbaip
part Iou't mimi tbev win 40 a.
and Mr. Davis vll find things rrs rot
altogether his v-av"
.Ioiu q Mccall s,,retarv ~ "a. ann
$500. ..t.5 49,. 49,. w. N+tN