The Birmingham age-herald., 1906-02-23

promised during the year, with particu- lars as to sums insured, sums paid and reasons assigned for resisting or com promising the same in each case
 12. A complete statement of the profits and losses on the business transacted dur ing the year and the sources of such gains or losses, and a statement showing separately the margins on premiums for the first year of insurance.
 13. A statement separately showing the amount of the gains of the company for the year attributable to policies written after December 31, 1906.
 IA A statement showing the rates of annual dividends declared for the year for all plans of insurance and all dura- tions and for ages at entry 25. 35 45 and 55
 15. A statement showing the rates of dividends declared on deferred dividend policies. and the precise method by which such dividends have been calculated
 Is. A statement showing any and all amounts set apart or provisionally ascer- taned or calculated or held awaiting ap- portionment upon policies with dividend periods longer than one year
 IT. statement of any and all reserve or surplus funds held by the company and for what purpose they are claimed re- spectively to be held.
 Penalties.
  of the law should be made a misde- meanor. The provisions of the penal code as to perjury should be amended so as to provide in any prosecution the falsity of the testimony or statement set forth in the indictment should be presumptively established by proof that the defendants made oath to the con- trary. The provisions of the penal code as to the misconduct of officers and employees of corporations should be amended to make clearer provision for cases of false entries in books and ac- counts and the omission from the reports of any matter required by law to be stated.
 Apart from what has already been sug- gested the committee is not prepared to make recommendations with reference to industrial insurance further than to say that the subject is one of deserving spe- ciaI investigation. The most serious evils which have been disclosed by this in- ouiry, to-wit. the excessive premiums, the enormous lapsed rate. and the hard ships to agents, seem to be inherent in the system. It Is insisted that the present method Is the most economical that has yet been proved to be adequate to the exigencies if the business The alternative seems to be presented either of prohibit- ing altogether industrial insurance by private corporations or of permitting its continuance substantially upon the pres ent basis subject to those regulations designed to secure economical admins tration. applicable to all companies alike.
 Superintendent Has Ample Power.
 The committee takes up the state in- surance department and holds that the state superintendent of insurance has had ample power and has been charged with the co-relative duty to inquire into ta{. tl1o of s,, surance companies to the end that abuses may be exposed and correct administra- ton assured. The supervision of the de- partment, however the report sets forth, has not proved a sufficient protection against extravaganza and mal-admnistra- tion. Annual statements have been re- ceived and filed In many instances with out sufficient detail to exhibit the real efficiency or honesty of the management. Nor has there been suitable effort to de- tect and expose evasions of departmental requirements.
 Referring to the office of the insurance department in New York city In charge of Robert H. Hunter. the report de- clares 1t is apparent that no suitable steps have been taken to safeguard the interest of policyholders by an exposure of wasteful expenditure Or corrupt prac- tices "The final responsibility for this neglect" says the committee, must rest with the superintendent of insurance.
 The committee recommends that fur ther powers be conferred upon the in surance department and then says
 Most of the evils which have been disclosed by the investigation would have been impossible had there been vigor- ous performance of duties already laid upon the department; vigilant watchfui- ness in the interest of the policyholders and a courageous exercise of the powers which the statute confers.