Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-08-05
RADICAL INSURANCE REPORT
Auditor Carroll Goes After Both Old Lins
and the Traternal.
NIUDlclOUs INVESTMENT OF FUNDS
judge wade Announces that Under
No Circumstances VIII He Accept
Democratic Nomination for
Governor.
CFrem a staf Correspondentl

(From stan Correspondent
| DIES MONIES, Ia, Aug. 4-(Special
! Telegram)-1n his annual life Insurance re.
port made TO the legislature and filed with
Governor Cummins. today Auditor b. r.
Carroll makes the most radical recon-
mendations for life insurance legislation
! and management that has ever been made
ofhcially in this state. He reports that an
investigation has disclosed that fraternal
companies are making investments all the
way from the forest lands OF Washington
and Oregon to the stock in the Transsibe-
rian railway Of Russia and China. lie
states that he found the Des Moines Life
! Insurance company has invested to the ex-
tent Of S12O52l.5O in land in the Boise val
| ley in Idaho and included in the desert
| land act of congress, the value of which
! depended on it's being irrigated. That IL
mas not been irrigated yet and hence on
| his orders the company has called in the
loan. Though the loan did not make the
company insolvent It is given by the
auditor as a sample OF reckless invest
ment.
The report recommends that the deferred
dividend be abolished by law, as most OF
the evils in insurance are to be traced to
that practice.
Auditor Carroll states that fraternal and
assessment company rates are entirely in
! adequate and recommends that legislation
be enacted prohibiting further compsnies'
| being formed unless on rates that are much
| higher, and says that many companies or
gained in the past have been purely as
speculations and TO furnish positions for
the offcersl He states experience has suf-
fciently demonstrated the fact that fra
ternals cannot OF themselves be depended
upon to reorganize and bring about condi-
tions that can be looked upon and regarded
as permanent"
The auditor points to the fact that eigh-
teen assessment companies have been or
ganized in the state and only four remain,
the others having relnsured or failed. Dur
ing the year ending December 81, 1906 the
life insurance business has increased from
81. 600 900 insurance in force to ss2,OC0,0OO
premium receipts increased over previous
years from $2,600.O0O to S2s00,0OO; admitted
assets from a little under Ss.O00,0O0 to over
! 50, 900, 900; amount paid policyholders from
$4,000 to $sSSO0O. these figures being for
Iowa companies.
The report recommends a standard form
OF policy and that companies be prohibited
from using. any other form without first
submitting II to the governor attorney gen
eral ana AUDITOR, ana recommends IHhl
proxies be prohibited
wade Ont of the Race.
Judge NJ. J. Wade, late congressman from
the Second congressional district in an
interview in Iowa City today stated that
under no conditions would he accept the
nomination for governor on the democratic
ticket at the convention In Waterloo next
Tuesday This - taken eliminating
Judge Wade from al possibility as a cand-
date for that once. During the last few
days there has been a revival of discussion
Of Claude Porter OF Centervile as a guber-
material possibility on that ticket 1t is
understood that he is the choice Of Hon.
Jerry B. Sullivan, the last candidate on
the democratic ticket for governor. John
D. Dennlson, Jr., of Dubuque. Mayor Ball
OF Iowa City and Claude r. Porter OF
Centerville are thus left as practically the
only candidates in the field for the posi-
ton. Below that Of governor the other
positions to be named on the ticket have
been little discussed, either in the papers
or by the politicians.
United states senator Delegates,
Governor Cummins has named the fol-
lowing as the delegates from Iowa to at
tend the convention of delegates from all
the states to further the movement TO
amend the constitution of the United
States so as to provide for a vote direct
on United States senator's: Ex-Governor
, William Larrabee, of Clermont; Thomas d.
Healy, OF Fort Dodge; Senator Lester w.
Lewis. of Clarinda; Jerry b. Sullivan Of
Des Moines Walter II. Dewey. OF Chart
ton The last two are democrats and
It is understood are favorable to the prop
osition though the resolution passed by
the legislature last winter does not pro-
vide that democrats must be repre-
, scented on the delegation The first three
named are republicans The convention
has been called to meet in this city Sep
' TENDER in the hah of the house of rep
resentatives. Senator Lewis of Clarinda
was the originator OF the resolution which
he offered in the senate and labored dill
igently to get passed.
ROthert ReappoInted.
superintendent Henry r. Rothert has
been reappointed by the State Board Of
Control for another term Of four years as
at Council Bluffs. He has held the position
for many years.
Too Many Pigs.
There are applications thus far for L. 1856
pens for the exhibition OF swine in that
department at the state fair this year and
there are Just 1892 pens available and no
additional ground on which others can be
built. This condition OF affairs is causing
!, some inconvenience to the swine breeders
of the west. Arrangements are being made
for additional ground, but 1t will not be
available for this years fair.
The horse and cattle entries closed this
week and the Indications are that the barns
will be more than lhlled, but this can be
taken care of by erecting tents. which
will be done.
Assessment L. Concluded.
The executive council has concluded the
work of making the railroad assessment
} and the clerks of the executive councils
office are now busy at work tabulatng
e the results II Will not be known till proba-
v bly, Monday what the total increase In this