New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-27
MAY PROBE N. Y LIFE.
RUMORS OF MOVEMENT.
Directors Silent-Plans to PreUent
Hold-Up at Albany.

Several Individual trustees of the New-York Life
have received suggestions that, in view of the
testimony before the legislative insurance commit
tee. the trustees of the company emulate the ex-
ample OF the Mutual. and appoint committee ito
examine into the organization and management
of their company. The report that there was a
strong sentiment In this direction among New
York Life trustees could not be confirmed from
any authoritative sources.
1T must decline to discuss this in any way" a
prominent member OF the New-York LIES finance
committee said last night. Anything 1 have 70
say will be said in the board room. and only
there"
Men In insurance circles and those in close touch
the legislative committee, expressed the opin-
ion that the appointment of an investigation COM
mittee by the New-York Life was inevitable, the
only doubt being whether the company would
await the close Of the legislative investigation be-
fore taking such action. The next meeting Of the
directors Of the New-York Life will take place on
November s, and it is considered entirely likely
that this question will be discussed at the meeting
It was learned yesterday that the most careful
pans had been laid to avoid any possibility Of a
'hold-up' of the recommendations OF the Arm
strong Insurance Investigation Committee to the
next legislature. The charge that the insurance
companies have steadily exerted influence upon the
legislature not merely in obtaining the passage Of
favorable bills. but also in defeating hostile iegisa
ton, has been fairly well proved by the evidence
brought out before the committee. THE House OF
Mirth" maintained by the Mutual Life at Albany
set legislators to thinking, and result of
conference between leaders, including Governor
Higgins it has been decided that whatever bills
introduced by the Armstrong committee as a re-
suit of their investigation will not be referred to
the insurance committee of either the Senate or
Assembly but referred back again to the Assembly
and Senate members of the Armstrong committee.
This follows the precedent OF the gas bills of the
Stevens committee. All save the commission bill.
which carried an appropriation. were sent back
to the Stevens committee. The advantage of this
NAV be appreciated when the case of the Fitz-
gerald 20 cent gas bill is recalled This Dill was
held uu by the Senate Committee Miscellaneous
Corporations for many weeks. In view OF All the
nanies at Albany the possibility of any attempt
10 defeat the remedial legislation that the Arm
gtrong committee may decide upon has been con-
sidered and prepared for thus early,
Investigation committee of three, would add
nothing yesterday the interview published In
yestsrday-s Tribune. bingham B. Morris went
o1t OF the city after the meeting, and William H.
Truesdale the third member OF the committee. left
town early in the day. bound for Buffalo.
Charles r. Henderson, who was among those
who voted for the Mutual Lies investigation. said
that the action OF the trustees was not to be con-
strlied as indicating that Richard A McCUrdy sis
To he sacrificed slaughtered TO appease those
Who u1reasonably criticised the Mutuals manage
ment Nv 90 -
has published q copy of a letter he addressed
October 9 to Charles E. Hughes, OF the Legislative
committees counsel. on the topic OF What Is the
Divfdend Principle Of the Mutual Life3'
r. n Hartman, who is one Of the defendants in
Attorney General Mayors suit against the Equita-
HE returned to the Jurisdiction of the New-York
coIirfs last night. 1t Is understood that he will
strong committee. When seen last night Arden
he refused to discuss insurance or other affairs.