Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1906-03-01
ARMSTRONG REPORT.
Findings Of Insurance Investigating
Committee Of New York.
HlKES NAHY RECOMMENDATIONS
was Accompanied By Eight BiliS
Designed TO Correct Evils and Ir-
Yegularities DISCLOSED ~
the investigation.

investigating cOmmitUee WaS pAVe'A
in both houses Of the legislature
Thursday II was accompanied by
eight bills designed to carry into enect
in detail the recommendation OF the |
committee. Senator Armstrong made
a statement in which he said that
counsel for the committee, Mr.. Hughes
MP. McKeen. and himself, had worked
ON the bills until four o'clock Thursday
morning and had not then finished
their labors. He asked leave for the
committee to submit supplemental
report which will make the proposed
forms Of the standard insurance life
policy to be prescribed by law. He
promised this report next week. There
will be a public hearing on the bills
before the investigating committee It
self on Friday, March 9. in7the assem-
bly, chamber
In a statement made to newspaper |
men before the presentation OF the
report Senator Armstrong said ne
hoped to have passed before April
t5 the bill which will defer the an
nual elections In the Mutual compan1
les from April Is to November 10.
This It is believed probably would
nullify all proxies obtained up to TINS
time BY Thomas W. Lawson and the
policyholders committee Of state gov
ernors and others, as well as those
which the management OF the COM
panies themselves have been gather
inc through their agents.
The matters demanding the con-
s,daration Of the legislature for the
nurnosa of remedying existing evils
ana ~ establishing more securely the
business Of life insurance In this state
40 src,red under the following heads;
patiTement Of stock: investments In
o,,,A,ro svpdtcate participations; lin
s.as,ors - new business: political con-
. .rIhvt,ors. lobbving: limitation Of ex-
v,anssS. valuation 81, policies; rebates;
srrrordar vaIue values: entertainment
80 d,s.r,hr,,on ~ surplus: remedies
Il anu u.oH .ou. ..a,,4 - roaort
d OF pollcyhoiuels' " - aa,,o,os. rub.
II 70 the courts lotlus = po.'e.s .., NY,
n ncity ana stave supel vl0.on' p It,',,.,ro
n Tne comnl'tvee Ieo To- n..s.nasa ,.,h,cS,
If the amount ., wv o Du NAV
t. eacn Oh Ine lafso' LIP ~ Tho,
0. take 70 SloVVvV,oVV s1aA, !, ~,
D, no company uoine O aan,as
D. STATE eAcep' W lnu a-aoaa - Gov
shaii Issue poiiclv -, y ~
tam prescripeu iin .'..,,,aao ,ornora.
a. Contrlpuuons W insul 80 .,.s..is !,
or lions for pollticai PURPOSES s 49, ~ :
r. strictly lorDluuen' ne Co Y. ...s,,,,,, ~
At comments the passase y ~ un 49,,
o. ocal anu orasllc nieaSu.' -
10 this evil ,.u.,na
" Notning dlscloseu y ~ a..ast,n,
re- ton deserves more sei,ous s - ~,
than the systelliaelo en4' y oan.ro
large insurance conpal.vs = - 4,
- large part q lne iesi s.a...,..oa ~ =,
"a state, Tney nave Deen O.s n,,,"u,a =
a an onensiVe anu ueiens,so -aa~o :,
pTSc s ua,a " Y. M Sniy insurance. pu
=, 80 ,rsat varsity Of Important interest
Hi. | ...aaah th.o,,nh otehafdfarV N0m
/ nau,ss Or tbrough the connections 0
ur tha,r of,cers they have become re
ID. ,a.ad Their onarations have extendo
', hevond The state and the country ha
ID hesn divided into districts SO tina
at sach comnanv might perform con
h ., a tts sbsre of the work Enor
Dy mous sums have been extended in
"a surer,,tiouo manner. Irregular az
Counts have been kept to conceal tn
novmsn,s for which proper voucher
haya IN heen required. This coura
- y, conduct has created a widespread
~ that large portions Of TIL
money has heen dishonesty used.
the committee recommends an al
nual accountins and an annual dii
Ia frIbution Of the surplus; the compaI
III iss protectine themselves again
Nretnatlons IN values by the account
Iation and the retention Of reasol
ahle Continent fund. The maximu
~ This fund TO be based on percen
20 n the net values. Of outstandiI