The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-03-01

the conditions which they ave to meet
az Fan imT ending c1taclysm Of disaster"
He read the proposed law restricting
the expenses OF the companies, which will
hit the agents hard in the matter OF reduced
commissions. That said ne, is the
indefinite something we have to face, l
have read IL not because | understand 1t
or because any man here understands IL,
but because il Is what we are up against, v
He went on:
We nre to become defunctus-we are dead
ones to -day, II we only realized IL, for the
pro visions OF the proposed insurance legis-
lation regarding agency compensation II
they become laws win drive every live life
insurance agent out of the business Into
the street.
IL must be remembered. and the sad thing
about all this Investigation is that no agent,
no practical field man, was called before the
committee, and so far as my knowledge
goes. no Investigation by tho committee Of
the practical work Of the agent was elected.
Let me plead with you. gentlemen OF the
press, for Gods sake, give the honest. re-
sponsible life insurance agent a square deal.
Let me urge also each man here to entreat
his Assemblyman and State Senator to save
the life insurance agent from being driven
down end out. made to suffer the wrongs
OF others, and to bend under woes which are
laid upon him so ruthlessly.
Edwards predicted that the New York
State companies would practically with.
draw from every other State. Restricted
In the payment of commissions they will
not be able to compete for business in out
side States.
If the life insurance agent must be
legislated out Of business, !" exclaimed the
speaker, "then for Gods sake extend to
him the same considerations that it is pro-
posed to extend to the moneyed interests.
The companies are to have i've years In
which to dispose Of their stock holdings,
II so much consideration is to be shown to
these interests, why not extend the same
programme to the agent? If commissions
must be reduced and men legislated out OF
business let it be done on some five year
schedule Of graded reduction"
This was greeted with q chorus OF cheers.
Paul Morton, who followed Mr.. Edwards,
was inclined to think that a good deal OF
the popular ~antagonism against life insur-
ance companies originated with the agent
who misrepresented matters to the applicant
Il think said President Morton, that
the rules and regulations Of the business
should be seriously and honestly complied
with, and / think those who violate them
wilfully should be speedily punished, n
il necessary separated from their oocupa-
tions." President Morton continued:
The speed craze between the large COM
panIes as to which can be the biggest Is over
From now on the race will be to the swiftest
to get and show the best results. In order to
get the best results a company must have
the best agents. 1t will not be the amount
of bushes written, but the conservatism,
the economy and the wisdom shown in the
administration Of the insurance business
that we will all be measured by. This alone
will go a long ways toward the discourage
ment Of men of doubtful character and still
more doubtful methods.
Under the compensation proposed by the
New York Legislature the agent will from
necessity be Obliged to retain all Of his COM