The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-12-31
The Bond Market.

For many years the bond market Inns
not shown such a depression as IN 1896
Many powerful bond underwriting syn
cicates had 70 dissolve with Tremendous
losses Il seems as n the investing public.
has lost all interest IN bonds for wears
considered the best and most desirable
depository for nations savings The
transactions I'm the bond market during
1875 probably was one-third less than in
100 The hopes OF the bond dealers centre
on 1907. They assume that the new
wealth created IN 1906 viii finally find its
location in good bonds. OF which there
are plenty in tho market, and which can
he purchased ~ present az very attrac-
tive prices Those that avail themselves
81 the present low bond prices probably
viii have no reason to regret IT,
A New Era in Life Insurance.
The new insurance laws OF the State
! Of New York, which go into effect jan
uary, 1907, are Of greatest interest 10
thousands and thousands in every state
OF the Union. Tor the operations Of our
lending life insurance companies are not
confined O. the State Of New York. but
embrace the entire national domain
The most salutary feature OF these
new laws after which the Insurance laws
I OF every State ought 20 pattern. II the
provision thar The Insurance companies
must include in their annual reports TO
! the Insurance department a fuu state
ment OF all claims contested or compro-
missed. with reasons FOR such contests or
compromises. There are many life IN
surance companies. especially smaller
ones. which have been ia the habit TO
contest death claims due 10 beneaciaries
IN moderate or poor circumstances.
These insurance companies know that
by contest and threats OF long drawn ont
litigation they can force heirs TO sub
init 10 meagrc settlen.snts Now. these
policy without getting disropute with
seekers Of Insurance. for who will "a Ike
life Insurance I'm companies with reputa-
tions to fight claims ia courts.
The more contested claims insurance
companies operating under tile new laws
Of the 1tate ~ New York VIII report. the
simmer Will be their chances of getting
new business. Here We have another
case where wise laws providing for fun
publicity win bo Of lmmnse benefit 10
the people
Among the other good features OF the
new laws ~ the State OF New York ara
those providing that every policy should
contain the entire contract between the
Insured and the company. This Will pre-
vent companies making policy holders 70
| bind themselves by their bylaws which
the directors had power 70 change at viii
so AS 70 actually modify the contract
without the policy holders consent The
+
business viii put check TO extravaganza
and 90 q mad competitive rush for bust
ness. irrespective Of cost.
Under the new laws the life insurance
companies viii not Doe permitted to ac-
quire speculative stocks. and the mil
lions accumulated by them fin trust for
the insured Will no longer be used 10
I help syndicates or clques 10 speculate
with the millions intended for the protec-
ton OF widows and orphans
No better New Years present Ia policy
holders and their heneficiaries could have
been made than by these laws Of the
/ state OF New York
President Cassatt.
Mr.. Cassatt. president of the Peuusyl-
vania. died suddenly December 2sth with
him one Of the great minds in the rail
road business OF the country passed
away. Ffis death had only slight effect
on the stock. II dropped hardly a point.
IL IS the general impression that Mr..
Henry Clay Frick more prominent as