New-York tribune., 1906-07-14
MAY NOT LEAVE FRANCE
N. Y. Life Would BE Handicapped
in AH Europe If 1t Did.

II is generally understood by those in position
TO know that the New York Life Insurance Com
pany will remain in France. in spite of the recent
law which led the Mutual Life to announce that II
would withdraw from that country. Consideration
Of this problem which has been placed in the
hands Of the finance and office committees by the
trustees. has reached point where it is almost
certain that they will recommend to the board that
it will be to the best interests OF the company to
remain in France a definite announcement to this
effect is expected after the next meeting Of the
beard.
The Paris Office of the company is the headqaar-
ters for all OF the European business Which
amounts to between s4Oa.OoOccO and s5OOOOO.OOO
large and effective plant has been built there. which
cares for as much business as many insurance COM
panies in this country. To give up the French
business and abolish the Paris office would in
Jure the business in the other countries which
contribute to that Office that the company might
as well give up business in all Of Europe
Inc French Insurance in force in the New York
Lie now amounts TO SIS S7S4.G0O of which s0749OOO
was written in l9OS s2 600 in 1904 and S2 $4,000
In 1860 The income from the Paris office is about
SSOOoCOO year. and it might not be necessary for
the company to send either money or securities
from here in ORDER TO comply with the French
law The company has large of money here
"hlch represent premiums paid by French policy
i! noIuels. II the company remains in France and
So SSUanpilss WIN the law which that companies
of the reserves all French policies in French Sc
6,I 6sieo 60 VIII WIN tne French government it will not
holders. t'
As French securities pay only per cent while
me me securities held by the company in this
ry Yield ABOUT "a per cent the income on the
reserve on French policies will be materially de-
creased This may make readjustment of rates
n mere necessary. There two favorable factors
IN france. however. The mortality is low and tine
iapses are considerably less proportionately than
4 committee of the Mutual Life which was an
the TO Try to straghten out the tangle over
yesterday ThOse present President Peabody.
n H. rogers Charles r. Henderson and Louis
Stern. IL was rumored after the meeting that Mr.
rogers had agreed to eliminate himself from ali
consideration If hiE colleagues deemed il necessary
@ IOr the success of the ticket There were other
aI1IOFs tnat certain members OF the McCurdy re-
SINE SINE would be dropped from the board, while
Ihomas Merritt, the head OF the Toronto office
OF the Mutual Life. who had been with the company
TOT twenty-five years, died suddenly last SUNDAY
wnIle L ia taxing a nap with his son. When the boy
The international POlcyholders Committee re-
ceiyed letter yesterday signed ''Vertas" in
which the writer said: Although not insured in a
nutual company. j inclose the popular 81 subscrip-
u49 9I for TT the purpose of your organization" He
auued that the overthrow of the present manage
ments of the insurance companies concerned every
man and suggested that subscription lists be