New-York tribune., 1906-04-04
WILL EAT REFORM PIE.
INSURANCE MEMS Plan.
Com panies VIII Make No 4ttempt
10 Fight Ne7c Lascs.

The big life insurance companies Of New York
are not going 10 fight such reform insurance bills
as mass The Legislature. Statements TO that ef-
feet were made yesterday by the legal depart
r,snts OF several OF the companies. They realize
,bst as corporations their powers and rights
can he limited by the states. and there will be
absolute observance Of all laws which pass as a
result of The Armstrong committee examinati
T,ere viii be no long drawn out struggle in the
courts over the consututionality of the reform
hills That the insurance companies may make
a fcht for the repeal OF certain measures which
they deem obnoxious is not denied. but as long
as public opinion is in its present state the in
surance companies propose to take their medi-
cine like good children.
olor have the companies any hope Of defeating
any cf the bills in the Legislature. The way the
November election bill went through both houses
and WAS signed by Governor Higgins shows
,berl that they have nothing 10 hope for from
tae Legislature.
President orr Of the New York Life announced
,ssteraay that the company's annual election,
which is scheduled for April il, viii not be held
IN that date. He said the company would rear
-.rre its affairs and hold a general election on
November -. according 10 law. The trustees.
whose rerm of Office under ordinary circum-
stances would expire at the election April IL.
K.Drsley John Claain. William B. Hornbiower.
Woodbu-- Langdon and George Austin Morri-
san Trey win continue 10 hold office with the
trustees 81, hose terms have not expired until No
,ember l5.
n is probable that President Peabody of the
Nurual Life viii announce in day or two that
the afutua. Life election viii be postponed from
June until November Il. The Mutual Life has
no idea Of hghtiug the law. 1t is likely that the
hoard will act on the recommendation Of the
Truesdale committee and decrease the number
nj trustees from thirtysiN 10 twenty-four before
the November election.
President Peabody said yesterday that he
would not resign before the November elections
srd would stand for re-electien He said he
thoucEt the report that .. G. Haldeman former
British agent Of the company. was coming 70
Neyy York 10 consult him was mistake he
sid -rsr Augustus =. JUiliard. one or the Mu-
tusl Life trustees, would arrive to-oaY or 10 70
morrow with important papers bearing on me
insurance situation in the United hlngdom
The Truesdsle report Is stih causing a turnoI
IN tie Mutual Life The latest luInof Is ma
Tob- Fonda third Vice-president of the COM
nzrv who was severely criticised because OF tte
~ Wv fu which the home office building on
Nassau street was run is likely 10 resign. isaac
= IIov6 second Vice-president. considers that
The report was unjust 10 him When IL salo ma
he had Iltrle TO DO but 10 look after the minutes
az The board Qf trustees He has hsd the supeTfl-
sion Of the signing of the papers in death claims
and Other important duties
There was no indication yesterday that ne
Anil grand Jury had followed Recorder Goh
enggesuor that they take up insurance matters
They reported number Of indictments II rou-
tine cases but did not. 50 far as could ne
learned make any demand on District Attorney
Jerome for evidence in insurance cases.
Al the annual meeting of the stockholders of
ne washington Life Insurance Company. held
YESTERDAY ar the ofi1Ces of the company, al No
lsl Broadway, the election of directors OF ihe
hrsr class 10 serve for period OF three years
took place. The directors elected were Richafo
Billings 8 y. Clarke. +. Ward Ford, Paul Eul-
Ter George n Hard. g. -. Haven and Henry =
Herman. The last named is president Of the
Union Exchange Bank. The annual election OF
of7cers Of the company VIII Do held on April Is.