The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-05-17
WARM TALK On
INSURANCE ISSUE
Senator Bulkeley Says Investi-
CATION and Legislation Have
Made Matters Nurou.
ADMITS CONTRIBUTIONS
FROM COMPANY FUNDS
Declares by Inference That
Financiers Are More Honest
Than congressman.

WASHINGTON, May Ex-senator Bulk
eley continued his discussion OF tho insur-
ance questions confronting the country at
the afternoon session of the committee
and some OF his remarks and conclusions
created some degree OF sensation to the
roomfu OF committeeman and insurance
representatives
Financiers Jealous.
Discussing the Armstrong investigation
and the irregularities brought out in that
connection, he said that they did not arise
from the internal acknowledgement of the
companies or from the personal or official
dishonesty OF the officers OF the com
panies. but wholly from the jealousy OF
hnancieirs TO get control of the vast funds
OF these institutions.
In Hands of One Man.
Tho investigation and the legislation
which has grown out of It, instead of bet
tering conditions he said, would produce
a contrary effect as pronounced as jump
Ing from the frying pan into the fire. In
stead of having several great institu,
tions as before. controlled by o divided
responsibility, they had put the entire
business into the hands of ono man.
Who is that MANI asked Representa-
tive Dc Almond
Did Not Reply.
Senator Bulkeley did not reply. There
was silence In the room, then a general
suppressed laugh In the official record
OF the hearing no answer TO this question
Will appear.
ator Buckley. after the tension of this
incident had passed. these great insur-
ance corporations existing today will own
the major. portions of the investment Sc
cuTitieS OF the country They Will con-
troll absolutely the finances of the United
States and OF the world"
Admits ordinations.
Senator Bulkeley, who Is president OF
the Aetna Fire Insurance company,
frankly admitted. in answer to a question
had contributed 5000 of the funds OF this
company TO the Mckinley campaign OF
1896. He added that IL might as well have
been 500, 600, that he would have been JUS
tilted in giving this amount, which was
not "a flea bite to what he gave person
ally.
Pointed Question.
DO you think that action upon your
part In contributing tho trust funds OF
your company to a campaign committee
either Justifable. honest OF decent2"
queried Mr. De Almond.
II contend that every custodian OF funds
Senator. rs justified and within his rights
when he takes that money and applies it
to the protection OF the rights OF the peo-
pie l contend that the election OF Mr..
Bryan would have been a calamity"
Gets Sharp Answer.
This Is new philosophy or insurance
of which ! am glad TO hear commented
Mr. De Almond. after several further
questions along this line. There are
some people who get so powerful In the
financial world that they do not fear to go
in boldly where others would not dare TO
60"
Slap at Lawmakers.
IF you gentlemen of the House OF Rep
resentauves." replied Mr. Bulkeley. who
distribute millions OF the peoples money,
disburse II as honestly as money is han
died by the insurance companies Of the
country, you need have no fear of going
before your constituents"