New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-03-29
PASS ARMSTRONG BILL.
FIRST INSURANCE REFORM
Senator's VOte Unanimous -Malby
Pleads for Delay.
IBy telegraph to The Tribune. J

Albany March 2S.-Without dissenting vote
the Senate this afternoon passed the first Of the
insurance reform bills. the one to legslate out
Of Office on November 10 all trustees of mutual
insurance companies chartered in this state and
providing for special elections. to be conducted
by the policyholders. Opposition to tho bill was
not manifested, but opposition to the red handed
methods shown in rushing the measure
through was shown by Senator Malby. who
took the same Conservative" ground as last
week, when this revised b'U was Introduced
His arguments, in which he Iikened himself to
Christ in suffering for principle, formed the
feature Of the debate the bill, and his was the
only voice raised strongly against the measure
although Senator Marks wanted to know why
the Insurance Committee had not made this bill
apply to the Equitable. Senator Armstrong told
him that the committee was endeavoring with
all solicitude to discover the proper remedy for
the EquitabIes condition He did not try to
press his inquiry into the secret workings Of the
Armstrong committee.
For a moment there seemed doubt as n
whether the insurance bill would be taken up
to-day The Senate was tired from q three
hours debate Of the Elsberg bill. and Senator
Raines moved to adjourn. Senator Armstrong.
however who had rushed from New York to
champion his committees bill, explained that
immediate consideration Of it was vital
AT great inconvenience I have come here to-
day to press this bill for passage" said he The
subcommittee is working night and day in New
York to get the bills revised 80 they can be
brought up here tomorrow, presented to the
insurance committees in both houses, be re-
ported and brought before the Senate and As
semby on Friday morning, so there may be no
delay in printing, and we can take up their con-
sfderation next week. Now to accomplish that.
7 must return to New York this afternoon.
beg that we may take up this bill at once"
SENATOR MALBY's ARGUMENTS.
Senator Raines withdrew his motion to adj
journ, and Senator Malby at once began his ar
guments against "hasty action" He said that
while it appeared that every man who criticised
the insurance bills was to be termed an OBJ
structIonst that would not prevent him from
doing his duty. He went on:
don't want to criticise these bills any further
Legislature no subject has come before us so i'm
portant as these insurance reforms Since the in
policyhoders have suffered loss greater than It
cost the Japanese to fight their successful battles
against the Russian empire. How many billions
more IL VIII cost no one can tell. but think it is
good Judgment to move along the lines as slowly as
I know these words are falling on deaf ears.
Years ago Cruelty Him! Cruoify HIM" still OBJ
I l g. ana that mere are Just as many Pontus
who stands for it as there We're then in the mob
not nail his hands 70 the cross. but they put the
nails through his heart and conscience and good
said that not only should ali these directors go out
but they should never be permitted to hold Office
again
But surely the Senator does not mean that he
would stand for the election of one of the men
who has been guilty of this gigantic thievery?"
interrupted Senator Bracket. Mr. 8Ialby re-
piled:
No a thousand j., times no. Remove the man who
that every man connected with an insurance COM
the only living ex-President Of the United states
will be put on the statute books an outlaw and
by side with Grover Cleveland in that Glass; cass
| stand here TO argue that We proceed along sane
important bills under consideration
III vote, for these bills finally, think. as I'll
every director is legislated out Of office, and no
That would prohibit Grover Cleveland and Morgan an
j. ~ hTien ana Paul Morton and all such men,
whose integrity is above reproaCh from being
elected directors. because Of such creatures as
body and soul OF Fenzed nan6 % SRo is Fetne
PI39Nles and IN rear OF the passage OF this bill, is
TENDER l6. We may wake up some morning and
while a modest, model man ike Stuyvesant Fish
who would not canvass for proxies would be de-
REPLIES TO SENATOR MALBY
More OF hysteria than anything else lay in
Senator Malby's objection, Senator Bracket re-
torted. No officers who were guilty Of any part
Of the loot should be reelected. he said
This bill won't apply to the Equitable" went
on Senator Bracket so it can't be taken as
affecting Cleveland and Justice OBrien. These
men need no defence from ne. Their integrity
is too well known on every hand. AS to Paul
Morton, 1 am not sure. I am watching his
course closely. with much interest
Il wonder which Of these gentlemen the
senator lil1ens to the Christ? They are like Him
only in that if there were six I'm a circle each
one would be between two thieves Now. what
punishment would fit the crimes of these direc-
tors?"
Il make no plea for those guilty of these great
crimes" declared Senator Malby
And I am attacking no one else" Senator
Bracket said. IF any one in those boards was
not guilty, he was hopelessly lax and should
not be reelected but there is a vast difference.
Now what punishment would be meet for these
guilty? Should We send them a request to re-
sign, on Senate paper, properly engraved I APP
precate the position Of the District Attorney of
New York County, but every one Of these trus-
tees despite this favorable position. would be
glad to get out II he were assured of no further
consequences.
81 hold fast to the old doctrine that the Lord
moves i'm mysterious ways and frequently uses
the wrath OF to praise Him. If He wants
10 Lawson TO accomplish His reforms, 1
viii praise Him
Senator Armstrong made brief appeal for
the bill He declared that il was necessary be-
cause of the pending elections i'm the New York
Life and the Mutual He said
There's never been "a real mutual company ina
this state Whether the stockholders controlled it
or the officers, through proxies gathered by a well
tt elections, with equal disregard Of the real in