Perth Amboy evening news., 1906-06-02
S 7 A 7 {
STARTS
PROBING.
Insurance Investigation Under
Way--COmmittee Organized
at Trenton Yesterday.
MODEL AFTER new YORK
Mr.. C0rbin Selected As Counsel
Makes Statement Regarding the
Scope of the Proceedings
Resolution Adopted.

TRENTON, June New Jersey
started its official insurance investi-
cation yesterday at noon when the
committee appointed by President
Bradley, under the resolution passed
by the senate April IL, formally met
and took up its work. The commit
tee is composed of Senators Hillery,
Wakelee and Minturn, President
Bradley having named the judiciary
committee as the special committee.
The progress made yesterday con-
sisted in a formal decision that the
committee had full legal power to
act, in general outline of the pro-
cedure, and in beginning of the
probing of the state department of
banking and insurance.
Committee Organizes.
The committee organized by for
mally electing Senator Thomas j.
Hillery chairman, Mr.. Corbin and Mr..
Johnson as counsel and associate
counsel respectively, Mayor Freder-
lex W. Gnichtel as stenographer, and
Captain John f.. Lovett, of this city,
as sergeant-at-arms. W. Scott Snyder
is to be secretary of the committee,
but he was unable to be present at
this meeting
This resolution was then adopted:
THAT the committee invite writ
ten communications from any persons
interested in the subject of life lnsur-
ance and having facts or information
which may be of use to the commit
tee. That they invite suggestions of
amendments desired in the insurance
laws and of particulars in which
changes and reforms are deemed de-
sirable, whether in the way of limit
ing investments, the regulation of
the conduct of the business of life
insurance, the more strict visitation
and supervision of insurance compa-
MES, or otherwise; such communica-
tions to be accompanied by any doc
rments or publications bearing on the
subject, which it is desired that the
committee shall examine and consid-
er.
And that they especially invite
suggestions upon the wisdom of
adopting any or all the changes re-
Gently made by the legislature Of New
York, in the laws respecting insur-
ance, the same being embodied in
chapters 1913, 22S. 231, 239, 286,
321, 324, 325, and 354 of the laws
of New York for 1906.
"All communications to be signed
and to be transmitted to the counsel
of the committee on or before the
first day of July next"
Scope of Committees Work.
At the direction of Chairman Hill
lery, Mr.. Corbin made statement of
the scope of the committees work, in
which he outlined it as follows:
"One-A careful examination of
the resolutions shows that the inquiry
is directed to the life insurance busi-
ness. and to that alone, with view
to remedial legislation.
"Two-The committee Is especial
ly directed to examine the results of
the New York investigation by the
joint legislative committee of 1905,
and the laws passed upon the recon-
mendation of that committee.
"Three-The committee is also au-
thorized to examine pending bills and
enacted laws in other states touching
life insurance.
"Fourth-For the furtherance of
the inquiry into life insurance, the
committee is authorized to examine
the records of the New Jersey depart
ment of banking and insurance, re-
lating as well to banks and trust COM
panies and to call upon all such cor
porations for information necessary
for the purpose of the inquiry into
insurance.
"Fiye-The committee as a select
committee, authorized and appointed
at the close of the stated session of
the senate, and explicitly directed to
report at the next session of the leg
islature. 1t is, therefore, authorized
to sit after the adjournment of the
stated session of the senate.
'Six-The committee is a special
committee, by resolution required to
enter upon an investigation or in
quiry, and, therefore, in my opinion,
comes within the statute of 1875. de-
ffning the powers of legislative COM
mittees of investigation, with power
to send for persons and papers as
therein provided"