Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1906-02-03
CIjMMINS
MAKES hit"
IOWA GOVERNORS ADDRESS ON
INSURANCE REFORM GRE.
ATEs A SENSATION
PLAN BEING PREPARED
Committee Of Fifteen, With an Advls-
ory Board Made UP Of Several Gov
ernors, Is Appointed to Arrange a
Scheme for Reform In Handling In
surance Matters.

SulCdSO, HI, req. n. - Inc QdClOu-
al convention called to consider the
proposed reforms In the supervision
OF life insurance companies turned its
attention today to the subject Of uni
form legislation. A committee of fif-
teen was appointed to decide upon the
report to be submitted to the conven-
tion later in the day. In addition to
the fifteen active members of the COM
mittee, all governors and members of
the conference of commissioners on
uniform legislation were designated as
members of an advisory committee.
The governors present we're Johnson
Of Minnesota; Elrod of South Dakota;
Beckham of Kentucky; Davidson of
Sarles of North Dakota.
cummins Routs Insurance Forces.
For three hours yesterday the
agents and emissaries of.life insurance
companies held the floor Of the ma
tional insurance convention in session
at the Palmer house.
Then, to the accompaniment Of
cheers from the reform faction of the
convention, Governor Albert B. Cum
minis of Iowa arose before the conven-
tion and with heavy broadsides of elo-
quence put the insurance men to rout.
Lieut.. Gov w. P. Thorne of Ken
lucky followed up the victory of the
Iowa executive with discourse on in
surance as viewed in the south. His
hearers were convulsed with laughter
by a series of anecdotes which he
used as weapons to ridicule the argu-
ments of the representatives of the In
surance companies. iss W.
The session was defined by south
ern delegate as zone of the purtiest
wildcat scraps he ever saw"
Clash Over Rival Policies.
The company men talked as If they
were trying to insure each Individual
hearer in their respective companies.
In one or two instances they clashed
over the relative value to the citizen
of the brands of policies issued by
their companies.
Reau e. Folk, brother Of Governor
Folk of Missouri and insurance com.
missioner of Tennessee took the de.
ferred dividend bull by the throat with
bare hands. He fiayed the deferred
dividend system, terming 1t q system
Of gambling contracts and likening Its
action to that Of Shylock when he de.
manded pound of flesh. He termed
the system Immoral" At the close OF
his arraignment Mr.. Folk presented a
resolution to the effect that the sense
of the convention was that deferred
dividends should be absolutely prohib
tied.
Vice President Rufus w. Weeks and
General Counsel J. H. Mcintosh Of the
New York Life Insurance company
made a vigorous fight in favor Of de
ferred dividends. Mr.. Mcintosh as
serted that legislation against the sys
tenn would be violation of the right
of individual contract.
Gov. John A. Johnson Of Minnesota
presided as permanent chairman.
Fire Opened by cummins.
Governor Cummins chose an op.
perfume time for his speech. The
vice president and general counsel
for the New York Life had expended
their eloquence. Ex-Insurance Com.
missioner W. A. Fricke, formerly OF
Wisconsin but now understood to be
connected with an insurance company
in New York, had made the remarka
BILE assertion that life insurance is "a