The Washington times., 1905-06-06
INSURANCE FIGHT
JARS POLITICIANS
Much Interest Shown in
Equitable Imbroglio.
BATTLE OF MONEY GIANTS
Expected Congress VIII Be Forced to
Take Cognizance With View
to Federal Control.
BATTLE OF MONEY GIANTS

That the people are taking a deeI
interest in the question Of Federal reg
ulation OF insurance is the testimony
OF Senator'S, Representa- tiyes and pub
lie men generally all over the country,
If judgment may be based on express
slons of those who have been in Wash
ington of late.
The Equitable troubles have been in
part responsible, but these rave not
been alone in leading the public to fear
that It's investment IN insurance Is
used by the princes Of finance and
speculation as the instrument with
which TO accomplish their purposes.
The impression is gaining ground
among public men and is fast taking
hold on the people that back OF the
Equita bic warfare is fight between
the two great financial groups known
generally as the Morgan and the
Rockefeller interests for control OF the
great insurance companies, with their
fabulous assets and tremendous sur
If the Morgan group shall win this
struggle for insurance eontfol, Is
said the power thus ac9elIlso 9nlsei;ar Saii ,L De
terests the scepter of financial SWAY
It would in such case be the WeaItn
and power of Standard OH against the
---~
huge Insurance accumulatfons.
Morgan Lesser Light:
Mr Morgan, 1t Is pointed out. Is not
to be compared to the Rockefeliers III
personal wealth. He IS very rich. ou.
probably is not one or the dozen
weaIthiest men in the country lie Is.
however. a most skillful organizer anfs
maniDulator and this genius nas
brought him.. five years age. into re- re-,
king OF the continent. he hoated
United States Steel, whose collapse AZ
er injured his prestige He backed the
Northern Securities merger, pTosecu-
ton OF which further injured Morgan
prestige His firm was connected wath
other unfortunate enterprises, ana as
result the name of Morgan was Tor
time q poor one to con1ure WITH.
Morgan went into eclipse. and the nghs
of Standard OIL bedimmed all otner
radiances.
But there are indications that the bat
tie for supremacy has been renewed
and that the house OF Morgan is now
fighting for possession of q financial
engine, in the great insurance COM
the mil.ions of the Standard OIL. with
its annual dividends of about $40 0O0 go.
Should Morgan win, he might yet
humble the apparently invincible power
of Rockefeller and Rogers.
MERGE Of Companies.
\ merger. either actual or practical.
of three or four of the big insurance
companies has been limited at many
times lately. Now 1t is being said that
the Equitable contest is fast resolving
into a struggle between Hartman, on
behalf of the Rockefellers. and Morgan
interests for control. It is said that the
whole scheme of insurance control Is
likely TO depend on the outcome OF the
Equitable fight.
ginning to be talked in political Wash
iDgton as well as financial New York
They are discussed among the people
out in the provinces. They have become
the inspiration of the pressure which
| Senator'S and Representatives are feel
Ing.
It is believed In some quarters that
effort will be made to initiate the inter.
est in the insurance issue until II viii
be large enough to eclipse. partially al
| least, the railroad regulation program
There is declared to be a large const!
iation by the Federal Government
court decisions being largely against it
The Dryden Bill.
Senator Dryden's Federal regulation
bill, however, is declared to have re-
ceived the Endorsement of some good
constitutional lawyers. If 1t is consti-
tutionaI this point has no significance
for the bill at least furnishes a basis
for complete and thorough Federal
supervision
That the question viii be pressed il
the coming session of Congress. an(
| that it will before long be one of tht
commanding issues in legislation. is gen
erally accepted among public men