The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-11-23
TARBELL ALSO
TOOK A LITTLE
Second Vice President of the Edui-
table Is Heavily Insured.
POLICIES COST A TRIFLE
RAILROAD FRIENDSHIP FOR IN.
sURANcE COMPANIES.

Anew YORK, Nov. 22.-After being on
IN the witness stand before the Arm
strong legislative committee On in
surance investigation for the greater
part Of three days, Gage l. Tarbell,
second vice president of the Equ table
Life Assurance society. finished his tes-
timony today. ana just before adjourn
ment submitted a list of suggestions
for the remedy of existing abuses in
the management of insurance COM
panies and for legis alton designed TO
give the state proper control over the
companies and to insure the confidence
of the pole FOLDERS Prominent mDng
these suggestions was absolute public
ity. While admitting that wrong had
been done by life Insurance officials.
Mr. Tarbell said he had no APOLOGIES
to make for any OF them, and that he
hoped they would be punished.
Tarbell's Insurance.
Mr.. Tarbell was on the stand the en-
tire day and was questioned as to the
system Of agencies and the commits
sions and other compensauOns allowed
them for getting business. Just before
recess the fact was brought out that
on his own life and members OF his
family and had received the agents
commission Oh the premiums as re-
neWal commissions. He said that since
he became an officer he had taken out
100000 on his own life in the Equitable.
Arranged With Perkins.
Beside his policies in the Equitable
he had taken insurance in the New
L. L..-g- I
with George ". Perkins and OF this,
too, he received the commission on the
premiums. He also had a policy in the
Aetna and the Travellers, on all of
which he collected the commissions.
He said he carried $500 900 on his own
life and 100000 on members of his
family.
Mr.. TarbeH was emphatic i'm de-
nouncing the system. of rebating by
agents, and stated that any agent Of
the Equitable who gave rebates to get
business was dismissed. When he
told of getting the commissions Assem-
blyman Cox asked if that was not re
batting, and Mr.. Tarbell said il was not;
that he thought he was entitled To it.
Later when Mr. Hughes toOA W this
same subject with the witness the lat
ter justified the taking of the commits
siOns as being similar to the case of a
merchant who purchased goods of a
fellow merchant in the same line, Eer-
haps TO fill an order and gOI those
goods at cost or of a professional man
treating another and charging less
than the regular fee. Mr.. Tarbell fur
Their said if he had done wrong he was
sorry, but that he had acted in good
faith.
The Frick Report.
Nj Tarbell bore out in a measure |
the statement of James II. Hyde when /
on the stand relative 10 the fairness of !
the Prick report. The subject of ad- 1
vances to agents was under investiga- |
ton and Mr.. Hughes read some figures !
Of the amount of advances to one agent I
in this city. Mr.. Hughes asked where /
the Prick committee got the figures, |
and Mr.. Tarbell replied with marked !
asperity that he did not know. They /
did not get them from my department |
or the auditors; they made their report !
without ever making an investigation
NJ the dppaTtmpnt no said