Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1906-01-18
LEGISLATURE MAY
PROBE INSURANCE
Senator Molesberry lntrodu-
ces a Resolution Looking
to Investigation.
ASKS ABOUT THEIR POLITICS
Would Probe into Relations of Com
pany Officers to investments and
Election Contributions Committee
to Continue for Year.

Des Moines, Jan. 10.--A concurrent
resolution providing for a committee
to conduct a rigid investigation into
the affairs of Iowa life insurance
companies was introduced in the
senate yesterday morning by Senator
E. M. Molsberry of Columbus juno
ton. The proposed committee and
Its powers are identical with the
New York legislative committee
which has just concluded an investi-
cation of the methods Of New York
insurance companies. The resolu-
ion points to disclosures of investi-
cation in other states, thereby show
ing the necessity for such investiga-
hon declares that the inquisitorial
powers of the state auditor and his
examiners and actuaries are limited,
and continues:
Resolved by the senate, the house
concurring, that joint committee be
appointed consisting of three mem
bers of the senate and four members
shall as soon as possible, investi-
gate and examine into the business
Of the life insurance companies doing
business in the state of Iowa with
reference to the methods in force by
said insurance companies in trans
acting their business, their relation
to other corporations, the salaries
paid their officers and employees,
their securities, and their invest
ments, the relation Of the officers
and members of said companies to
said investments, their relation to or
with other corporations. transact
ing business with the said insurance
companies, their liability to their
policy holders, the cost of insurance,
the expenses of said company. the re-
lation of said insurance companies to
subsidiary corporations; to examine
into all expenditures of said compan-
les, including their expenditures in
CURED in the employment of legisla-
tive and municipal Hobbies, in max
ing payments of contributions to can
didates, committees, or others, to be
used for political or compaign pur.
poses, and any other phase of the
insurance business deemed by the
committee to be proper subject of
investigation; and the mention of
any particular line of inquiry herein
shall not limit in any measure the
field of investigation which said COM
mittee is empowered to enter, and
that said committee is authorized to
draft and report to the legislature at
its next session such revisions of
the laws relating to the life in
surance business and the taxation of
said insurance companies in this
state as said committee may deem
proper; and be it further
Resolved, that said committee be
and it is hereby authorized and en-
powered to require and enforce the
attendance of witnesses, the produc-
ton Of books and papers, to admin
lister oaths and to employ counsel,
Btenographers, clerks and such other
employees as may be necessary for
the purpose of such investigation,
and such committee may exercise all
powers provided by law or this reso-
luton, at any time prior to December
/, 1906, whether during the session
of the legislature or otherwise"
On Senator Molsberry's motion,
the resolution was read and laid over
under the rules.