The Providence news. (Providence [R.I.]) 1891-1906, 1905-12-04
MAY CALL
BLISS And
CORTELYOU

New York, Dec 4.-Senator Armstrong
chairman OF the legislative life insurance
committee, said today that there was an
erroneous impression that the life Of the
comn<ttee woy~J end at the beginning OF
the next session OF the legislature on
January q This he said, was not true.
The committee would continue 10 sit and
take evidence unles the legislature by
Joint action ordered It TO stop the invest-
cation.
I'VE hope, and intend" said Senator
Armstrong, "tO finish this investigation
by December 81 and 20 make our report
10 the legislature when IL opens. To push
the inquiry further than that would be an
attempt to exhaust an inexhaustible sub
ject. we have got at the main things and
moral effect Is half We think we have
done all we could In the time at our dis
posal."
The senator said II IL possible that
Postmaster General Cortelyou and Cor
nelius ~ Bliss OF the Republican national
committee will be called, but he does
not see any reason why they should.
Asked about the probability Of calling
other Witnesses among whom, III. II.
Rogers has been mentioned as possl-
bility the senator said the committee was
not appointed TO investigate the Standard
oil company
There are insurance. men" said he.
who would be glad TO have us devote
the 23 days remaining TO us TO something
else than insurance"
George ID Eldredge. vice president and
actuary OF the Mutuar Reserve Life In
surance company was the first witness
before the committee today.
Mr.. Eldredge was questioned concern
IL
Life IN favor OF Mrs. Jennie V. 5. Pot
ter OF East Saginaw, Mich.
This claim based on policy Of $4,000
on the life OF her husband. was presented
on May g. 1905, was approved on July 10,
and paid five months and eight days after
II had been presented. Mrs. Potter re-
ceived $500. The company had substract-
ed lien OF 5000 created against the poll
Icy when the policy lapsed and was re-
newed I'm 1902.
Mr. Edredge said the approval OF the
claim was delayed bccaus cit came I'm too
late TO be included I'm the June assess
ments The average time taken 20 pay
such claims by post mortem assessment,
he said. was four and half 10 i've and
a half months from the date OF the pres"
entation OF the claim
Mr. Hughes questioned the witness
about the Mutual Reserve Life Insurance
company rates and its estimates to agents
I'm 1897 that the rates would not be in
creased on the ten-year plan then adopt
ed. "
Mr. Eldredge said Il became necessary
TO assess the policyholders at the end OF
eight years. The estimates OF rates to
agents on the fve-year combination plan
which was subsequently adopted was also
insufficient. In both cases extra assess
ments were made necessary by the NOR
tality which was more than anticipated
The agents were not notified that the
estimates were insufficient Mr.. Edredge
said.
Mr.. Hughes asked the witness what es-
tmates I'm the agents manual squared
with the results.
MIR EldFedsc said he did not know that
they had proved true or untrue as the es-
Inmates were TO cover period OF ten years
on each plan which had not elapsed.
Mr.. Eldredge said he aid not believe the
company would have the surplus esti-
mated when the ten years had elapsed