Omaha daily bee., 1906-10-24
LIFE UNDERWRITERS MEET
National Association Of Insurance Agents
in Session at St. Louis.
OLD LINE c0NpANIEs ARE OEfLNOLO
one Speaker says Tley Are More
COnservativeIy Managed Than
BankinE and Trust
Companies.

NWHAE8MANAt
ST. LOUIS. No, oct. 23.-The first days
session Of the seventeenth annual con-
venton Of the National Association Of Lie
Underwriters developed considerable oppo-
sition when an efiort was made 10 amend
the annual report OF the executive COM
mittee by a resolution TO the effect that
existing ex-presidents shall be qualified
for period Of one year and no longer for
their positions as members OF the execu-
tive committee and as delegates-at-large
and that future ex-presidents shall be
eligible as members Of the executive com
nittee and as delegates-at-iarge for
period Of one year only from and. after
date Of expiration OF their term Of Office
as presidents"
The program OF the day had, proceeded
smoothly until this amendment was offered
at the conclusion OF the report Of the
executive committee. read by Chairman
Richard Il. Cochran Of New York. The
convention was Immediately thrown into
spirited discussion, many OF the delegates
rigldiy opposing, the adoption Of the amend
ment Finally a vote was taken and the
amendment was lost. The executive COM
mittee's report was then adopted.
The annual report Of Secretary Ernest J.
Clark Of Baltimore showed that 456 mem
bers had been added to the association by
the organization OF the Life Underwriters
association OF Canada perfected at Toronto
on June Is last and comprising eighteen
subordinate associations. Thirty members
had been added by the admission of the
Utah Association Of Life Underwriters. The
total membership Of the national associa-
ton Is row 1856.
The annual report of Treasurer Eli c.
Weeks Of Litchheld. Conn. showed that
the annual receipts of the general fund
amounted TO 1851, disbursements $2,Si5
leaving a balance Of S2.272: annual receipts
Of the extension fund $2i96, disbursements
1902 leaving a balance OF Sl,l93 and a
total balance in the treasury of 1856
President Charles w. scovel Of Plttsburg
delivered Ills annual address
Old Line Companies Defended.
Other addresses were made by G. II. Al
len, president of the Life Underwriters
association OF Canada, and Young e. AL
lison of Louisville, Ry. Mr.. Allison said
in part:
I make the declaration. and il Is sus-
ceptible OF proof. that the legitimate old
line life Insurance companies of the United
States are managed as a whole with more
exact justice toward each and every policy
holder than any branch OF the national
government, and with az much integrity
and accuracy as the combined banks and
the combined trust companies of the coun-
try. And that the trust funds committed
~ srL 49, ~ Si1eig ,
These latter are often wrecked by personal
dishonesty; but when have you heard OF
legitimate old-line life insurance company
being wrecked or materially. damaged. as
to its perfect solVency to policy holders?
nf nf hnt
one year by dishonesty than have been lost
to the policy holders Of all the old-line
companies combined In twenty-five years
Address OF President
Charles w. scovel. president Of the as
ISOLATION, said in part:
As matter OF fact there are just three
essential elements in life insurance-the
agent, the management and the policy
holder ] name them first I'm this order be-
cause Il ie the historic order; the order in
which they come into being. 81.
The policyholder comes first in Importance
because he and his dependents form the
the very statement one sees that the term
policyholder must include not merely those
already in. but also the larger number yet
70 be brought in. Future poicyholders, no
less than present ones, form the objective
point-partculariy when the subject is
viewed IN the interest OF the whole public,
10 say nothing of the generations to come.
X Is the agents function that Is peculiarly
directed TO serve this main public interest.
Only EnT0UEn MS MOrk VIII the future pol
icyholders 70 brought in and their depend
cuts be given needed protection against
poorhouse, prison or brotheI. And this
means protection not only for themselves
but for society. Only BY encouraging the
agent ear society thus protect itself. Il
has always been exceedingly difficult to
bring desirable recruits into our agency
forces-which fact alone proves that they
have not been overpaid. And any law that
attractive is to that extent directly against
public interest AS long az human nature
remains the same life insurance companies
without agents viii do no more to protect
society than the few, small religious sects
without preachers viii do toward evanseliz-
ing the world.
Agents status RecoEni1ed,
The crowning recognition OF the agents
status has been this year attained in his
organized capacity as constituting the Ma
! tionaI Association Of Life Underwriters
with it's seventy local associa tons through
/ out the United States and Canada. And
] rightly. so. FOR hero the agents status IS
/ wholly unique. This r. the only life insur-
! ance body of national scope-tO say nothing
+ ton among all life insurance men Is also
unique In that, body. we have no re-
letion whatever to any or all Of the home
] Office homogeneous. We include in each
district the agents who. as individuals, rep
resent practically every one OF the standard
companies Yet, as "a body, each association
must be and Is wholly independent Of and
\ nOnpaFtisan as to, any particular company
1 OF group of companies. This for the Sim
I representing a different company. must I'm
| the nature of the case leave his own COM
pany behind him when he seeks common
! ground with the rest Of us. II is for these
=, Fundamental reasons that our associations
/ have been so widely recognized this year
/ as standing, where FOR twenty-three years
We have stood, directly for the great COM
I mon cause of life insurance. which is the
cause OF the people.
The chief business Of this convention
pTesuminE that Il will rautv al All what It's
offleere have done IN accepting and acting
on the, invitation to join In this national
mQvcment-is to throw all possible impetus
into the coming campaign 10, make prOpa-
ganda IN all the states for legislation that
Win really do good. and not harm 20 this
great public institution OF life insurance.
We hold our commission from the COM
mander-ln-ehief himself; It runs 10 the
humblest member OF our farthest ossocia-
ton, and il runs until the campaign Is hn-
! ished. That Is inspiration enough Tor each
I one OF US to do his duty TO the end.
President s. r. Allen OF the Life Under
writer's association Of Canada. Montreal
was introduced and made an address. re-
spending 10 the welcome extended the
iCanadisn delegates
/ VlGNAUD REPRESENTS AMERICA