Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-12-02

Q.-At that maximum rates as al
| ready stated? Ayes. 30 per cent OF
the first year premium and from 3 to
7 per cent yearly on renewals. which
still! continue and are being paid To
me right along
GLOW have you received your re-
neWals since Mr., Haynes left the Equi'-
able? Al think through the cashier.
Q.-What Is the amount OF the pre-.
NUNS on these policies? Al don'r
remember, but | will be glad to furnish
YOU with that data later. I have In
all SSss'i'O insurance on my life.
MATTER OF CUSTOM.
Mr.. Tarbell said he did not think
George w. Perkins carried any lnsur-
ance in the Equitable. but he was con-
ldent 1t always has been the custom
among life insurance officers that they
receive the commissions when they take
insurance either in their o'Su or In other
companies. He knew OF no officer of
the Equitable, however who has re-
ceived such commissions except HIM
self. and he was no better informed as
to officers Of the Mutual on the New
York Life.
Q-Tn the case OF the company deal
ing directly with the officer, as | UNI
derstood to be the case Of the New
York Life dealing through Mr. Perkins
or did you regard Mr.. Perkins as vlr-
tually the agent OF the company in that
case? A.-No, sir; | do not know that |
did. He simply told me that If | wanted
insurance there / could have 1t net or
have the commission allowed to me.
Dwell. in such a case why should
the company give compensation
B.1f nf
ness when I'm fact II has not been
solicited? \. | assume that the COM
pdny figured that they were under no
expense: the business was desirable.
and that they would be glad to have It
the same as II 1t had come through an
agent.
I'm the case Of the agent giving
part OF his commission, or the whole Of
his commission, to an officer. how does
that differ from rebating?"
We'll, | have never thought that 1t
would ever be considered that a man
who bought in a sense his own goods
would be taking any undue advantage
of anything II he bought them net"
I'm what sense were you buying your
own goods In taking insurance from
the Equitable Life?"
u was buying the soclety's stock, of
which | am a part, and pretty large
part, as | carry one three-t housandths
part OF the total carried. | paid the
Equitable $4,000 for life insurance"
Are you more any part OF the Equi-
table Life than any other policy hold
er?'
"Only that am a larger policy hold
err"
n Is HIS BUSINESS.
rs there any reason why you should
get return from an agent In placing
your insurance, from the company.
more than any other person should get
in placing the same amount with the
company"
only because {, IS my business, and
l am giving my time to it,"
q. Now, do YOU think that an Off
Ger shOhld have commission interest
In any business that he produced while
he Is an otilcer?. 4. Not other than
the business that he has on his own
life, no. sir
@. And you think he IL entitled to an
interest In the business on his own life,
upon what ground? A. Upon the
grounds that ! have stated. / have all
ways felt-I have never given the mat
ter serious cOnslderation-but ! have
always felt that VI was proper for an
officer. as there was no expense what.
ever TO the company to buy his goods
at the net cost.
That Is the case In plain Relating.
is II not-thaJ the agent gives a man
who is Insured what is tantamount To
MS commission or part Of it?'