The Montgomery advertiser., 1905-12-30
OLD LINE IS FINISHED
TODAY LAST OF THE INsURANCE
 INVESTIGATION.
Session Will Be Given over to the Pre- sentatiOn of Exhibits That
 Have Been Prepared by VaHiOus Com panies.

New York, Dec. 29-With the ao journment of the. Legislative Connll. tee on Insurance Investigation tonlsn'' the investigation of the old line com panies was completed. Tomorrow, .ie last day of the committees sessions' will be given over to the presehta.ioi of exhibits that have been prepared oS several companies. and these are s numerous that they will not pc redu for the record, but after introductioh by the witness. will be marked TOT identification. Today the examination of the United States Life Insurance Company was completed and the Manhattan Life Com pany was taken up. President Stokes of the latter company was witness. The last old line company taken up was the Life Insurance Club of New York This appeared to be q system or securing insurance without agents by means of advertising. In the examina- ton of it's president. Robert Wightman, | it was brought out that the system Is anta gonistic to the larger companies When the committee began its ses- sion today. Adrian Iselin. member of the Finance Committe of the Mutual Life Insurance Company, presented a statement of his participation in under writing syndicates In which the Mutual Life also took part. He was not re- quired to testify further today
 President MunE Tcsti6cs.
 President John P. Mum of the United States Life Insurance Company was called and asked about the agency contracts of his company. Mir. Mum said that his agents were paid 15 per cent. of first years premiums and ) per cent. on the renewals for ten years. More than three-fourths of this com panys business is in deferred dividend plan and about per cent. of the busi- fa ha annno1 dividend nlHn. Henry B. Stokes, President of the Manhattan Life Insurance Company of New York. followed Mir. Mum.
 Mir. Stokes said the capital stock of i the Manhattan Company is S100.000 on | which 9 per cent. dividend and ' per cent. interest are paid or 16 per cent. | in all The Board of Directors con | sists of thirty-six members. He said no political contributions have ever | been made nor have any legislative ex- | penses been incurred. The companys | legal expenses for last year were S21,- | or. Neither the company nor any of | it's officers, said the witness. has ever
 been interested in any syndicate par ! ticipations. MT. Stokes Is insured in
 | his company for s7.500. Neither he nor | any other officer has ever received any
 l commis ssions from his own nor any
 | other company.
 | Mir. Stnkcss salary is S1S.0Nn. IT
 l 3uNltlOn lO SdEtEiPS, T sum IS dlSiIlb lb'
 uted among the officers annually hy au'
 l thoritv of the board if the business | warranted 1t. This sum averaged fol
 ten years about s7.000. Last year MT
 Stokes received of this fund $1.397 an(
 1 in the present year up to Jun 1 he has
 | received $2.63S This sum IS calcula-
 ted to be about 3 3-4 per cent. of the
 | gain in business.
 | Tn the course of the examination oi
 | President Stokes. District Attorne,
 Jerome conferred with several mem
 | bers of the Investigating committee COrrects Former Evidence.