New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-03-08
CHOATE TO BE COUNSEL.
Continued from FIRST page.

tracts is due to the extravaganza of some Of the
larger companies. The formal statement is
sued reads in part:
After working for days over the situatton which
me passage OF the proposed agency expense limita
dsdintegrate the agency forces Of both the small
would not only be TO do an injury 10 the state as
indicated above, and Injustice to thousands G.
Rem but 4 would G 90 %o Tea Ps d
sefisy TO the poGynoIders OF the companies The
expenditure Of years Of time and at O ea DEAL Of
h have e TRoss When 30 exist aPs
real and valuable asset. belonging TO the policy
produce they procure large benefits 70 the policy
the itrodueton of new lives No iHsuranee maS
VII object to the lowering Of agency expenses.
OF OF pressure by the large companies. following
the limitation Of business But it does not seem
the companies the agents and the pollcyholders BY
would have the result Of desfrovin ae 1 law which
plants of all the companies.
deception OF pocyhoIders by agents etc. and pro
poses sdandaTd form OF policy 1t then proposes
for more than five years. and that the amount OF
1t might not seem that these two 6uestiona ~
standard policy forms and renewal commissions to
wc Sn has STss bsS they
panes has been that whicS b9 bsa ana the com.
agents permanently engaged in the business work
interest rather than working for ali thew can get
interest the Business rs TsS YEAR The man whose
Or the first few years, bears no particular resnSnei
from company to company %ifhoSf ne os can pass
manentlg in tn. bes or man who is engaged per-
type who in an effort to earn commission. dee
class a OF b ns1saas jhs p9cyhoder thus writing
aoes 4p p gye the best results to the companies
his future renewal contract is ns,YaIiIs Tor
man who is nerma az 20 Holaty and character; is
business but to his company by reason or S Si
resPonsiby to his COMPANY nnd hg feels his
BUSINESS be oe S business on an honest basis The
nlGen more than compensates the COMPANY for tbs
done under rensWs which t. pays The business
WEIGH gives better mortality results "''
Inc Nlsiant, an insurance paper edited b>.
Charies j. Smith, appears this week with
what It asserts is the inside story OF life in
surance 1t declares that J. Pierpout Morgan
Planned TO get control OF the three big Hf, in
auiahce companies thereby forming the largest
reads I'm part:
Inc proposition was to combine the thres his
said Commits 70 the ne control OF Committed the
W, Alexander and John A Mccall with Georre NJ
ton II was eeo1ss at the head OF the eonbn
to receive am 1 iSno member Of the eomuttee was
that time and all continue in tHeis az
was TO he t5e as r eonmlttee men. but Mr. Perkins
WAS dem9nstrated that millions might be saved
aIliluaIIy oy TINS joint control because IN vvo,S AZ
Win competition and the agents now reca,,.
hs an the way from GO TO 100 per cent
NS nave 10 be content with 20 per cent of tba
nrsl premium because they would be In tha S sile
or the combine. IL was calculated thai ~ lover
IN THIS direction to the three Companies vvots sdVhs
s e2St $1,000 annually; Hundreds OF thoGssnss az
aoiiars would De saved annually in the TnattsS %,
s.stoneiy an9 printing The great cOmbination ~
practically cash assets IN hand would "a r WA, Is
thing before IT, and there would be sirSns, ~
SSa a trust mghter and more potent thar IN
S1sel Irust, which would wipe all other iISa t
suIance companies out OF existence ''SA s'io W.
~ was a bold scheme and as a finarc,., ...
~ had much merit, but the wipns on, ope aeon
OF TIE individual Importance OF the thrss - Tvss