Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1906-12-27
low A COMP ANIES
in GOOD SHAPE
LEGISLATIVE INSURANCE sao es ~
MISSION SAYS THEW go sossNh ssNh
aANcIALL~ "a W

/
Speaks in High Praise Of the Dill
gence and Efficiency Of State Auditor
Carroll in His Insurance Depart
ment
Des Moines, Dec. 26.-'Nothing was
discovered from the evidence taken
that would in any manner indicate but
that all companies doing an insurance
business in Iowa were practically COM
plying with the laws of the state un-
der which they were organized"
This is the finding of the legislative
insurance commission which has just
completed its work for the legislature,
1--WE find nothing in our investiga-
ton showing insolvency on the part OF
the Iowa companies" continues the
commissions report. con the contrary,
their financial conditions seems to be
good as far as we are able to deter
mine
"The insurance department of the
auditors Office, in our opinion. has
given careful attention to all matters
relating to insurance. Indeed. every
phase of the work is we'll in hand and
receives careful consideration and at
tention We would be at loss to under
stand how the insurance business OF
the state could be better and more eff
f1ciently handled than 1t has been by
Auditor Carroll and his efficient and
competent assistants. The state may
well be congratulated on the manner
in which its insurance business has
been cared for The work of the de-
partment has been conducted in man
ner that reflects credit on all con-
nected herewith"
Thoroughness Not ExceIIed.
Nor was this all that the commits
sion had to say ABOUT Auditor Carroll
and the manner in which he has adj
ministered his office. After discussing
the general subject of insurance laws
and giving a summary Of the enormous
business done by the insurance COM
4 panies of Iowa-alluding to the fact,
incidentally has come to he known as
the Hartford of the west, the commits
sion says:
eve believe there is not state in
the union in which the examination of
insurance companies, ON the part OF
4 the state, is carried out more thorough
lily with better results than under the
Iowa. laws and system
A This bouquet is not alone DOR Auditor
of State Carroll but for his force OF
4 examiners. F. s. Wilmington, the ac.
tuary, was one of these and 3. j. Daw-
son was the other Their examina,
tions of companies were perfect. In
A deed the reports that they made to the
auditor of state concerning certain
companies was the basis of the attack
made on the Iowa companies in the
last session of the legislature by Sen
: ator Molsberry and others.
Estimates on Interest.
The insurance commission has as
! sailed the habit of making Estimates
which proves strong drawing card
with the young and struggling insur
: ance company. Discussing the de
ferred dividend policy and saying hat
l the promoters of the system urge
: with no little plausability that it is
5 to the interest Of the policy holder te
allow his dividends to accumulate, the
: commission says:
"In this connection few companfe:
: in soliciting new business have USED
q unwarranted and seductive estimates
e of the sums which would be accumu
lated at the end of the distributing
period, practice, which, in the judg
ment of the commission, should be pro
hibited by statute"
The question is how to prohibit sue
cessfully 1t was tried in the case o
liquor. How can the state preven
; agents. seeking business in competi
|, tion with one another, from advancing
! their opinion as to how much the pol
: icy holder about to be written will ge
i back at the end of the stated period
$ OF course he never gets what is est
f mated, but there is no way in which
J, law can be enacted or enforced agains
b expression of an opinion on this sui
I ject.
/ Warm Fight Promised.
The insurance problem the COMM
winter is going to be the really warn
one. The primary bill and certai
railroad legislation Of course vii
8 monopolize attention for some tim
and the fight may be very bitter. bu
the real fight is going to be over il
!. surance legislation.
! The fraternals will be here to figh
:. legislation, it is believed. The con
panies having deferred dividend pol
). cies will be here to fight the propos
l. tion to make it a criminal offense t
e fail to distribute the accumulated SUI
't plus annually.
r Insurance is bound to be the big
u question during most of the session.
is supposed that Senator w. P. Whil
pie of Benton county will be mad
chairman of the senate committee an
Stanley Conn of Butler county in tn
D house. Leon Brown.
vi GoLDFlELD NOT DECREASED.