Omaha daily bee., 1906-12-23
INSURANCE REPORT READY
Minority, However, Has Not Yet FOrmu-
lated It's FINDINGS.
PIT CONES ON DEFERRED DIVIDENDS
Ststs Compelled by water Company
60 Pat Meters into new Mains
Desired for Use as Fire
Protection.
lion q stan correspondsnt.l


DIES MONIES, Dec. 22.-(special.)-
Representatives N. e. Kendall and r. r.
Jones have gone to their homes, each
carrying a carbon copy OF the report OF
Lthe legislative insurance commission.
Nach will prepare a statement on what
they think OF deferred dividends" and
expense loading" and, when completed
THIS win be mailsa TO Secretary ByrlCit.
The report will then be filed with the
state auditor It is Anticipated that the
minority reports OF Jones and Kendall
will reach the secretary in day or two.
Although the report Is not on file the COM
( mission will have no more session. Jani-
son. Bleakly and Clary went home yes
terday.
Briefly summarized the report makes
tho following recommendations:
The creation Of a Department Of insur-
ance, the commissioner to be appointed
by the governor and confirmed by the sem
! - itemiEed statement to the Insurance
: department Of the condition Of the sur
. Prohibiting disbursements by companies
Of 500 OF more without II being evidenced
by voucher.
agents as between deferred dividends and
annual distribution policies.
A standard life policy, with provisions
the policy TO constitute the entire con-
tract; all statements made by insured in
/ advance OF fraud deemed representations
/ and not warrantees II age of insured Is
/ understated amount payable upon policy
shall be such as premium would have
purchased at correct age; loans may be
/ made on policies after three years; a
table showing loan values and options
policy payable within two months after
proofs of loss are duly made; provision
ments.
Limiting per cent of dividends which
cam he declarad annually nv afocI soun-
panies.
Proxies cannot be given more than
sixty days Before annual meeting and can
not be used more than ninety days after.
Prohibiting chartering of new or ad-
mission of further foreign assessment
on their policies 70 their net value as
one-year term policies.
Plan by which assessment companies
may reorganiEe
Prohibiting companies purchasing uppIi-
cations for insurance from unauthorized
Requiring fraternals now organised to
adopt National Fraternal congress tables
companies to adopt those tables when
they organize
Admission Of fraternal accident com
a standard fire insurance policy, en-
hpdying many OF the features of the New
= York uniform policy
Allowing cOinsurance riders to policy
the minimum property value being fixed
at $4,000.
HELiONhA tlduH8 TElfulTlNA flOIACS1s 10 COM
Ianies, when. property IL moved.
, The laws relating to county mutual fire
( and hail companies Is entirely rewritten
IN the question OF deferred dividends
tEeports subscribed to by the majority
Ne admitting the evils of deferred divi-
49,, ", declares that the system has taken
n - deep root that II would be disastrous
boiish II. They say that II deferred
hnds in the future are prohibited the
ht holders of deferred dividend poll
will suffer at the expense OF she
hl distribution policies and would
eva leap Iowa companies in competition
w. those OF other states. They recon-
mend that companies be held for a strict
accounting for all dividends accumulated
Holder Given Appointment.
Arthur f. Holder formerly deputy labor
commissioner OF Iowa, who went TO Wash
ington, d. c., to take a position on the
editorial stan Of the OFFICIAL organ Of the
machinists' order, has been appointed by
President Gompers on the legislative com.
mittee OF the American Federation Of
Labor
Must Put I'm Meters.
Meters will be put IN at the state house
-befVre the water Is turned into the mains
provided for the extra fire protection. Tn,
attorney general told the executive council
today that there was no way In which tn,
state could force the water works company
10 turn water into the mains; that tn,
water works company must supply water
to the public mains but that the maini
J inside the state house grounds are private
mains and the company cannot be forces
to supply water to these. A special system
of mains and pipes for fire protection hal
been put In by the capitol commission. 1
has been completed for some months, bu
no water turned in because the compan!
insisted on putting in meter and tn
executive council claimed that this woul.