The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1905-12-21
INDIANA MAN LANDS ON
INSURANCE CON
Germs
SKINS THE MAGNATES
And Shows What Policy
HOlderSS Don't Get.

Washington. Dec e1-Afr Lands bill
creates division OF Insurance in the
department Of commerce and labor and
provides for a superintendent Of insu-
, rance It requires annual reports from
All life Insurance companies doing bus
mess la the territory described "This
would" he said disclose any scandal
Gus perversion Of funds"
This would prevent. FOR instance any
life insurance corporation from holding
$40, 900 600 worth Of securities marzeted
by j. p. Morgan & CO.
"This would supplant speculation with
Investment
"Thls would disclose how FAR these
companies had departed from the orig
inai purpose OF Insurance and wandered
of into "A maze Of more than two hum
dred forms of policy puzziing the Jnind
and absolutely defmudine the pubic
"This viii direct attention 20 an anaz-
ing field OF fraud. II viii tell the story
Of conditions misrepresented. Of stipula-
tons not Understood, Of obligations too
heavy to be borne OF dishonest esti-.
mates Of earnings. IL win warn the poo-
pie agah,~s the most stupendous trick
cry Of our lmvs, namely tho invest
ment feature Of life insurance.
"In one OF the three great life insu-
rance companies last year. 5000 poli-
Giles came 20 a natural end Seven
thousand policies were surrendered and
$4,000 policies npsed.
This win disclose whether the cold
5looded robbery Of the past IS being re-
peated Let as hope that 1t viii cN-
plain 60 the inqupng policy holder why
his dividend fell from Si49 In 1876 to
81 In 1904, and why the dividends Of
his friepa sank from s55 IN 1876 10 50 in
1904 Let us Also hope that such a pro-
vision would make IL impossible for q
great corporation whose profits in 1904
were million dollars greater than in
1903 to pay 100000 less in dividends
than in 1903"
Mr lands described the salaries OF
life insurance officers as The touch OF
hin which makes the whole country a
Christmas tree"
These salaries, he said, were in the
main dishonest Touching on some OF
the reported transactions Of insurance
compaaies. he said his BIZ would take
them ont OF the saloon business, the
hotel business the trust business 1t
would reirict them to the Insurance bus
mess. This would dissolve tha standing
pair which Mr.. Perkins has had with
himself for so many years. II VIII also
prevent Mr. Cromwell, The treasurer Of
one OF these corporations from contin-
uing TO be q member Of sixteen different
ayndicates. an of which do business with
the insurance corporation with which he
! Is Identified. This win prevent Mr.
Hartman from borrowing S27o0o0oo 70
cast into struggle for the control Of
the Northern Pacific railroad
This Is pmnder Mr.. Chairman pure
md simple. one thing exceeds the per-
| ady Of these offenders. and that is their
! imprudcncc. An but two or three RE-
main In power. There is NOT one of them
good enough to wear the stripes Of q
feon. For them to remain IN onice
IS uuspeakahle, as unspeakuble as tol
the home wrecker to sit complacenty IN
the ruin he has wrought and caiIaiS io-
vito the American father 20 return
manks for divine favor
we send Mr Hyde TO France, nos as
an ambassador THANK God. nor even ~
return Cor the straw which was pitcke'
around The body of John Paul Jones
And We might say 70 onr sister republic
that we win gladly exchange With he
for an uaual number ~ hcuoat depd men
10 be selected az htf own nlAiitt4Nii q
hand Of brigands who seem resisned bu
have not
Patient though the people be- J wan
20 cake away from the death bed of th
pokoy holder the ugly faces of Harri
man. Kuhn. Loeb q Co. the Mccurdys
tho McCalis the perkinsee and Pierpoa
Morgan. the international kepiomania'
Il wish to say "a word reapeeung th
Z powerful director in the United state.
! I the embossed stationery director, th
birdss view director lie IS usual
, pe. .tsian who knows nothing eXceI
, cunning and Is used 20 deco the peop
who have hftod HIM from obscuutN ]
! business these men are Jniversalists-
I that IS. they are directors ln every ir
I sltution within the zone Of their noi'
riety. Their souls are in pawn, pt
their names arc stlll for rent They plea
financial success as % demurrer to ti
Ten Commandments and the sermon q
the Mount"
I Mr. Landis was applauded frequenn
ana when he had concluded the repu
Z Ncan members surrounded him Wi
warm congratulations