Omaha daily bee., 1905-12-04

except in name. II comprises a lot of men
reached no,nt Sgba,o ZIP mes we na NV,
DO one-half the business written In the
state. Ten years ago the home companies
dld one-tenth Of the total business. The
| progress made represents a heavy nroad
| by the home corporations into the earnings
OF thosS having headquarters in other
| states. Today the people of Nebraska are
| buying their insurance at home and II is
| this competition which hurts the under
i m5rSSS lH tSy are trying to create the
unsound by the way Of retaliation.
A peculiar thing about this resolution is
that the men who adopted it die not repre-
| sent any of the big New York companies
which are being investigated. These men
represent companies from other states.
It looks to me that to he consistent they
| should nave adopted resolutions calling on
the governors of their home states to in
Vestigate them in order that the Nebra SIX n
people who buy insurance from them ma
| nave information as to whether or not they
carry suHclent reserves for the protection
| or policy holders.
Their allegations as to the expenses of
| the Nebraska companies are untrue. ex-
cept in a very technical sense. In their
| computation they spread the expense over
| all of the business, old and new Tho fair
way to compute the cost is to figure the
new expense on the new business, ard that
| the Nebraska companies are getting policy
| holders at lower rate by far than any OF
the eastern companies. The expense ct
our company on new business is SIS a thou
sand. while other Nebraska companies are
| also low. For the eastern companics II
runs as high as $40. know of one which
mas an expense per thousand as low as
| Sao' out that is an exception.
Auditor Takes Time.
State Auditor Scare, who by virtue OF
his office is the supervisor over Insurance
corporations, stated this afternoon. IN re-
sponse to query as to the reply which he
would make to the resolution. that the
matter had been brought so recently to
lie Of
| consider it. Should he deem the home
| companies in need of inspection he has the
power to order it before issuing new IL
eenses for 1906, but he gave no indication
| that he contemplates any such course.
There is pretty strong sentiment that
the state officials, upon whom the demand
| In the resolutions was made, will ignore II
| entirely unless definite evidence or tho
| charges can be adduced. 1t Is pointed out
| That the action Of the Underwriters ASSOC
| ciation may have been hasty since II will
| provoke the home companies to demanr Of
the AUDITOR that he have the foreign cum
| panies examined by actuaries before is,,,
| ing new licenses to them for 1900. Snb
examinations must be paid for by The
| corporations which are subject IN tbo,,,
| Ind the auditor would not he subia,,t,1 .,
| any considerable embarrassment ,sbo,,I5 10
| issue such an order 1t has not becr tho
practice of the department to mako srch
| requirements, the general custom boin,,
10 accept the report of the insurance of1
Gals of the home state, but IT is nointod
| out that this precedent may fail befor. tho
public sentiment aroused over tho AZ
closures in the New York examination
| Inc department has assigned as its reason
ior not making such demands that the ex-
pehse ehtalled on the companies would he
NeIS heaVy' and It placed reliance I'm the
'"o"'nes made by the actuaries although
! THESE latter reports, as they have 49,,
II"us III 'he past are somewhat discredited
view OF the New York disclosures ~
secret speculation.
Pierce Goes East.
| insurance Deputy Pierce of the stat.
AUDITORS office has started for Nyau, 80.
70 meet with the insurance com-nissiona,'s
OF several states, under whose d,ron,ta.
tne actuaries have been looking into the
anSIs oi the New York Life, which was
'he nrst OF the Big Three to be singled
ou' ior examination. r. Il. Folk. the Ten
heSsee commissioner who is the chairman
| OF the investigating committee has ~,
nounced that the meeting win bo baIa
December g. but Mr. Pierce is anxious 70
be on the ground early. He exnects 80
! spend week in the work Examiner n
| .. virgins has been at work with tho
| actuaries of other states for over a month
| Mr.. Pierce will have an extended confer
ence with him and Mr.. Wolfe. the min
eipal actuary, Among other things The
program outlined for the commissioners
included an oral examination OF the or
hcers Of the New York Life. includin,
President Mccall.
Commissioners Host OF Wisconsin Is
quoted as saying that the commissioners
will meet with President Roosevelt to CON
fer as TO some means of bringing order
out of the insurance chaos due 10 the New
| York upheaval Mr.. Pierce had no definite
knowledge. except from press reports. but
thought II likely that some representa-
tive of the president would be present
at conference. The problem OF federal
control may be discussed.
Big Coach Goes East.
Coach w. c. Booth, the big foot ball ex
pert. left today at 80 p M over the Bur
| lington for New York. where he has es-
| tablished Connections with a legal firm. His
sudden departure caused considerable dis
satisfaction among his admirers. who had
! hoped to have him present at the annual
banquet Of foot ball enthusiasts which is
to be held Monday evening. 1t is stated
that the coach will return to the Nebraska
team next year, II he is able to make
! suitable arrangements with his profes-
slonal associates in New York. University
I people are predicting that he will come
/ back. although the unfortunate defeats OF
the team at Aan Arbor and Minneapolis
/ led to some criticism.
EIks' Lodge OF Sorrow.
] This afternoon AT the Oliver thaafar tba
Lincoln Blks held the annual lodge OF
sorrow. Judge p. ]. Cosgrave acted as
master OF ceremonies. George W Berge
4 delivered the memorial address
Successful FraternaI Meeting.
Zeta province OF the Sigma Alpha Er
silon fraternity closed its annual three
days convention last evening with an
elaborate banquet at the Linden hotel
/ Elmer b Sanford of Kansas City acted
a. POSTMASTER. Az the business meet