New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-01-21
.
k
/ Evans Ale
Does so much
Good for others
Why Delay?
clubs. Hotels. Restaurants. Saloons
and Dealers Everywhere
SHOT AT REBATING.
INSURANCE. MEN FIRE 1T.


7--dc-v-rtters- A-sociation Of New York
=. yesterday afternoon at the Underwriters Ciuo
~ NJ. a hundred and fifty Of the leading agents
Az .raeers Of the city were present. President
So es resided z y. Scovile- Of Pittsburg, presi-
Nc. of the National Association of Lie Cnder-
&C. 80 made the leading address Among other
'st,rs President Scovilie said:
rhsre has been called by the convention OF IN.
sance commissioners OF the several states r Tie
ne s 10 meet in Chicago on February / con
s@..9or TO Include the Governor. Insurance CON-
issjoneT and Attorney General OF eaeh oLae t aII1
----itorv TO consider the report OF the armstrong
rorntee ana aIi olIeF ltieG1i eoSs Of in
The DAY w 10 he recommended for enactment by
ii The eSa IF Sou rf on wednesday last by
~ axnTess authority Of the president the mem
M N99tional Association Of Life Underwriters to
% e renresen1ed by delegation Of ten OF lis oceTs
aa ana s Thomas E Drake OF the District OF
s--sneen7euts for the Chicago convention ms ls
~ resr1Inite e which in conference with the
Armstrong committee on tTldaH
The princiraI topic Of discussion at the meeting
..s tbe evil of rebating in life insurance. Y. c
1obnsou q member of the executive committee or
,bs local association. outlined plan for the or
s,iza+ion Of an anti-rebate bureau, which was In
so-sed by the meeting and signed by a majority or
hose present The following anti-rebate pledge
Vas signed ~ eighty-four managers and agents:
We the Undersigned agree to cooperate in the
II
obTications Of membership N which. TO winch p'li-
salons we hereby subscribe. snail be as follows:
,ehstes either indirectly or directly -,
second-Thst whenever in his solcItat2n me SUI
s,-Stsr runs across q case in which he has reason
m believe q rebate has been given. ne VIII rePoit
The Of the Policyholder receiving ne [eo@J J
ain concerning incident. including the name OF
tFs rehatinE company agent. II possible, 10 the
clerk Of the bureau.
Among the signatures TO this agreement We're
,bose of William {. Johnson. of the Phoenix; Theo-
dors T johnson. OF the Washington Life: H +.
eoulden Of the Penn Mutual; Charles Jerome
Edwards Of the Equitable: r {. Anderson, OF
,be State Mutual Of Massachusetts; D. \. Cert,
general agent OF the Mutual Benefit; Richard b.
Cochron vice-president of the United States Life
Alert G Shenard Of the John Hancock; Herbert
Y Fell Of the Mutual Life; t R Fell OF the
Mutual Life: TiIden BIodgett. Of the Equitable:
William E Wilkinson, of the Equitable, and d. q.
c Sinclair Of the Metropolitan.
TIE conference between the Armstrong insur-
sncs committee and the insurance commissioners
If q dozen States was resumed at the Cadillac Ho-
tel Yesterday morning. and lasted through the day
No definite action in the way Of resolutions was
taken, but none was expected The commissioners
declare that they never before realized the fun
multiplicity Of the insurance problem They are
nore firmly convinced too, Of the necessity OF
uuoru1itv in insurance law in the various States.
and definite action with that end in view viii be
:sken al the Chicago meeting.
Al the conference OF yesterday the plan OF dis
egsson by topics which proved expeditions on FIJI
DIV vas followed Most of the talking was done
By the visitors. for the members Of the Armstrong
committee have become accomplished listeners
One Of the most important subjects brought up
yesterday was the ratio OF expenses 10 the annual
vremum income. Figures were submitted when
od Of rather startling conditions In 1S0i. for in
stance the NeT-York Life paid out in expenses
other than fees and taxes 2273 cents of every dol
ar received in premiums the Equitable paid out
20 cents. and the Mutual Life not less than 800
CENTS
The commissioners consider this evidence OF
I1rayagance and waste. and they urge the Arm
strong. committee 10 find some definite way OF
sAeckng The New York Life succeeded IN
making d slight reduction in 1850 spending Al91
cents every dollar received. This saving was
IN spite Of the fact that the business written
Vas t@.5alQn less than the previous year.
s0ne o. the commissioners were q BIT disappointed
thsl they did get q better forecast OF the
armstrong report
What learned about the report won't hurt
Is any said n them. The committee IS
certainly 0f the clam family
Il was learned yesterday that District Attorney
ssrome had entered INTO an agreement not 20 take
% the criminal prosecution Of life insurance cases
decision was reached at a conference between Sena-
or Iully, Assemblyman Cox ard Mr.. Jerome
Ehch VAS held shortly after election. Mr- Jerome
declared that II would not he right to begin pros
eeuIop before the committee finished as it would
eff-gr Of T0-f ing I'm with