Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-08-05
RADICAL INSURANCE REPORT
Auditor Carroll Goes After Both Old Line
and the Traternal.
NJUDlcloUs INVESTMENT or FUNDS
JWdgs wade Announces that Under
Ne Cireumstanees VIII ne Accept
Democratic Nomination for
Governor.
tFrom a stan correspOndent)

DIES MONIES, Ia, Aug A-(Special
Teiesram.l-In his annual life insurance re-
port made to the legislature and filed with
Governor Cummins today Auditor B. f.
Carroll makes the most radical recon-
nnsndatons for life insurance legislation
and management that has ever been made
oficially in this state He reports that an
Investigation has disclosed that fraternal
companies are making investments all the
way from the forest lands OF washington
and Oregon TO the stock in the Transsibe-
rian railway Of Russia and China. lie
states that he found the Des Molnes Life
Insurance company has invested TO the ex-
tent of 150 in land in the Boise val
ley In Idaho and included in the desert
land act Of congress- the value OF which
depended on its being irrigated. That It
has not been irrigated yet and hence on
his otders the company has called In the
Jean. Though the loan did not make the
company insoivent Il is given by the
auditor as a sample of reckless invest
mant.
The report recommends that the deferred
dividend be abolished by law, as most Of
the evils in insurance are to be traced to
that practice.
Auditor Carroll states that fraternal and
assessment company rates are entirely in
adequate and recommends that legislation
be enacted prohibiting further companies
being formed unless on rates that are much
higher and says that many companies or
RanIsed in the past have been purely as
speculatlons and to furnish positions for
the officers. He states experience has suf-
hciently demonstrated the fact that fra
ternals cannot of themselves be depended
Upon 10 reoreanise and bring about condi-
tons that can be looked upon and regarded
az permanent"
The auditor points to the fact that eigh-
teen assessment companies have been or
Eanized in the state and only four remain.
the others having reinsured or failed. Dur
ing the year ending December 81 1906. the
life insurance business has increased from
81, 100000 insurance in force to ts2,0OO,0OO
premium receipts increased over previous
years from 100000 to $780, 900; admitted
assets from a little under Ss,OOo,OoO to over
Ss,oOo, 900; amount paid pollcyholders from
$4,000 TO 1858. 900. these figures being for
Iowa companies.
The report recommends a standard form
Of policy and that companies be prohibited
from using any other form without first
submitting IL TO the governor, attorney gem
eral and auditor. and recommends that
proxies be prohibited.
wade out of the Race.
Judge NJ. ]. Wade, late congressman from
the Second congressional district. in an
interview in Iowa City today stated that
under no conditions would he accept the
nomination for governor on the democratic
ticket at the convention in Waterloo next
Tuesday This is taken as eliminating
Judge Wade from all possibility Rs a candi-
date for that once. During the last few
days there has been a revival OF discussion
OF Claude Porter of Centervllle a guber
material possibility on that ticket It is
understood that he is the choice OF Hon.
80 Jerry p. Sullivan, the last candidate on
!he democratic ticket for governor. john
d. Dennison, jr., OF Dubuque. Mayor Ball
OF Iowa City aSd Claude r. Porter of
Centerville are thus left as practically the
only candidates In the field for the posi-
ton. Below that OF governor the other
positions to be named on the ticket Rave
been little discussed. either in the papers
or by the politicians.
United states Senator Delegates.
Governor Cummins has named the fol-
lowing as the delegates from Iowa to at
tend the convention OF delegates from all
the states to further the movement "a
amend the constitution OF the United
States so 10 provide for a vote direct
on United States senator's: Ex-Governor
william Larrabee. OF Clermont; Thomas D
Healy, OF Fort Dodge; Senator Lester w
Lewis. Of Clarinda; Jerry B. Sullivan, OF
Des Moines Walter H. Dewey, Of Charl,
Y ton. The last two are democrats and
1T 10 understood are favorable to the prop
osition though the resolution passed by
the Legislature last winter does not pro
vide that democrats must be repre-
sented on the delegation. The FIRST thre,
named are republicans. The convention
has been called TO meet in this city Sep
TENDER In the hall of the house of rep
resentatives. Senator Lewis of Clarind,
was the originator Of the resolution whicl
he offered In the senate and labored dill
Igenuy to get passed.
ROthert ReappOinted.
Superintendent Henry r. Rothert ha
been reappointed by the State Board o
Control for another term OF four years a
superintendent OF the school for the dea
at Council Bluffs. He has held the positio
for many years.
Too Many Pigs.
There are applications thus far for 1,St
pens for the exhibition OF swine in tina
department at the state fair this year an
there are just 1892 pens available and n
additional ground on which others can b
built. This condition of affairs is causin