New-York tribune., 1906-02-24

| cure insurance evils.
| Henry Clews said that the recommendation OK
| the committee to prevent future investment oi
| the funds of insurance companies In raliroao
stocks or in bonds secured largely by such col
| lateral was important and ought TO become ia"'
| He added:
The funds of insurance companies are the mos
they really belong to the widows and orpn1s y,,et ~
ten fbe nde Of the savings banks the
ings banks to be prevented py law iui t tha ;n
srrance nee companies The sooner the insurance com
panies kept out of gambling In stocks the oe'
I do not think that the proposed change IN the
surance companies too much The effect n,o probably
win be to increase slightly tne marx arse6 pTlees OF
| SAMUEL UNTERMYER CRITICIsES.
Samuel Untermyer. who win be counsel for
the Fish committee. when asked what attitude
the policyholders would take with respect to the
Armstrong report. said:
While the Armstrong report and It's recommends
tIons are IN most respects graIyng, and tne com,
Of the community for the fairness and fearessness
OF their report, some OF its recommendations are
want to be heard at the proper time. and WIN no
doubt "s, be given tn the opportunity j. r,, o,+ +,.
detas eho, Of this Complicated problem the C @
doubtless be pleased TO correct when Its attention
were very properly permitted to submit their sug-
gestions and recommendations, the poicyholders,
body, have yet had no opportunity of present.
ing ther views AS result, some OF the provisions
perpetuating the management and continuing ex-
isTThs ing abuses abuse instead Of eorretGyting them
LEGISLATION may be briefly and crudely summarized
First-7It unnecessarily continues in Office and ex-
tsnds the terms of office of the present managers
Ihere appears to be no reason why the present
months fe
or the Mutual five months further existence If the
the existing managements (Which am sure It was
no 1t could not be better served than by allowing
out.
The postponement of the election until June Is,
coupled with the TegHirenent i % that the lists OF
surance not later than April Is. will accomplish
second-There appears to be no prohibition against
the officers OF the company continuing the present
policy OF gathering proxies at the expense Of the
Third-No provision is made for distributing any
part Of the existing surplus.
Frederic Cromwell who will retire as treas
urer of the Mutual Life March /. will sail
for Europe March 81 the Kaiser Wilhelm
II. to be gone about seven months. Richard A
A1cCurdy and his wife and Mr. and Mrs Louis
A. Thebaud will sail for Paris on March for
stay of at least year. 1t is expected that Rob-
ert H McCurdy will join them later. The COM
plants in the suit of the Mutual Life against the
McCurdys. Thebaud and Raymond have not
been served yet because the lawyers have not
finished drawing them. 1t may be several days
before service is made. Mr.. Peabody said yes
terday that he had sent TO the Truesdale COM
mittee the opinion of Joseph H. Choate advis-
Ing the suits. A successor to Stuyvesant Fish
has not yet been appointed by the committed
LAWYERS FRAMING SUITS.
The lawyers for the New-York Life are hard
at frau f0o he In tba ba
brought against the estate of John A Mccall
and Andrew Hamilton to recover the funds OF
that company. John G. 0Iilburn and William A
Keener, counsel for the Fowler committee are
drawing the papers. The next work of the COM
mittee will be to take UP the report of the Arm
strong committee and adopt such recommended
tIons as may be necessary to forestau legisa-
tion
No indictments were found yesterday by the
grand Jury against officials of the Mutual Re-
serve Life Insurance Company. The jury has
not yet finished it's examination of witnesses 1t
will resume the investigation on Monday.
The slate of officials to be elected at the an
nual meeting of the directors of the Equitable
Life next Wednesday practically has been agreed
upon by Thomas F. Ryan and Paul Morton. the
president of the society 1t is as follows: Presi-
dent, Paul Morton; first vicepresident. to be left
vacant; second vice president, Gage z. Tarbel:
tAlrd Nlce-preSlOenC. George L. wilson, IOuTln
vice president. to be abolished: secretary. Will
lam Alexander; controller. William A Day;
treasurer, Henry Rogers Winthrop; cashier
Michael Murray; assistant treasurer. W. B.
Bremner; superintendent of agencies. S. G. Boil
ling; actuary. J. G. Van Cise; assistant actuary,
Robert Henderson; associate actuary. r. G.
Ham; auditor, F. W. Jackson; assistant auditor,
H. R. Coursen; associate auditor, A. w. Maine;
medical directors, Drs. w. r Bross and Arthur
PeIl. Most of these officials will be elected by
the directors, but few will be reappointed by
President Morton The executive committee of
the society also will be reorganized. James III.
HYDE was formerly first vice-president of the
society and William H. Mcintyre was fourth
vice president.
fathers condition more encouraging than
at any time since his illness. DR.. Keyes, the
family physician said that the outlook for the
recovery of the former president OF the Equi-
table was exceedingly bright
Il believe that before long Mr.. Alexander will
be on the road rapid recovery" said DR..
Keyes He has passed successfully the pri-
mary shock of the operation"
Mrs Alexander, who is in Europe. has not
been informed of her husbands condition. She
is In Ill health and only in event Of a decided
change for the worse in Mr. Alexander's condi-
ton will a cable message be sent to her urging
her TO return home.
WANTS WIDER INQUIRY.