The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1905-11-24

New York, November 22-After be-
ing on the witness stand before the
Armstrong legislative committee on In
surance investigation for the greater
part OF three days, Gage f. Tarbell.
second vice president OF the Equitable
Life Assurance Society, finished his
testimony today and just before ad-
journment submitted a list OF sugges-
in the management OF insurance COM
panies and for legislation designed to
give the state proper control over the
companies and to insure the confidence
Of the policy holders. Prominent
among these suggestions were absolute
publicity. While admitting that wrong
had been done by life Insurance offl-
Gals, Mr.. Tarbell said he had no apol-
ogies to make for any of them and that
he hoped they would be punished.
Mr.. Tarbell was on the stand the en-
tire day and was questioned as to the
system of agencies and the commits
sions and other compensations allowed
them for getting business.
Just before the recess the fact was
brought out that Mr.. Tarbell had taken
out insurance on his own life and on
members of his family, and had receiv-
ed the agents commission on the pre-
miumS as well as renewal commits
sions. He said that since he became
an officer he had taken out $780, 900
on his own life in the Equitable. Be
sides his policies in the Equitable he
had taken insurance in the New York
Life, the arrangement being made with
George w. Perkins and on this, too, he
received the commission ON the pre-
miums He had also a policy In the
Aetna and the Travellers. on all Of
which he collected the commissions.
He said he carried $4OO.OO0 OH his own
life and 100000 on members OF his
family.
Mr. Tarbell was emphatic I'm de-
nouncing the system OF rebating by
agents, and stated that any agent of
the Equitable who gave rebates to get
business was dismissed When he
told of getting the commission Assem-
blyman Cox asked If that was not re-
batting, and Mr. Tarbell said II was not,
that he though he was entitled To 1t.
Later when Mr.. Hughes took up this
same subject with the witness, the lat
ter justified the taking OF the commits
sions as being similar to the case OF
merchant who purchased goods or o
fellow merchant In the same line. per-
haps to fill an order, and got those
goods at cost, or OF a professional man
treating another and charging less
than the regular fees. Witness said
further that the commissions were
paid to get the business. and that when
the business was done without solicit
ing there was no expense and tnat
therefore he was entitled to these COM
missions. Mr.. Tarbell further said IL
he had done wrong he was sorry, but
that he had acted in good faith.
Mr.. Hughes asked IL an agent were
to insure for 100000 and give him his
commission whether that would not be
an infraction Of the rules against re-
batting and the witness said 1t would.
Mr.. Hughes replied, but you do not
see that it would be 50 IL he insures
your life and give you the commis-
sions."
Mr.. Tarbell bore out In measure
the statement or James dazen dyue
when on the stand relative to the fair
ness OF the Frick report The subject.
of advances to agents was under inves-
tigation and Mr.. Hughes read some
figures Of the amount OF advances TO
one agent In this city. Mr. Hughes
asked where the Frick COMMITTEES got
the figures and Mr. Tarbell replied
with marked asnerity that he did not
know. They did not get them from
my department or the auditors: they
made their report without ever making
an investigation Of the department. !"
he said.
When Mr.. Tarbeil was excused he
was followed by Gerald Brown, who Is
at the head OF the bond and mortgage
department OF the Equitable. He was
examined about the real estate Of the
society and was on the stand when the