Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-02-23

be from one to 1--WE hundred Thousand dol
lars They have no assets
Those are facts. There Is no guessworh.
So far as standing up here and saying
that they are doing beneficial business.
they are taking this 81 from these poor
ignorant coiored people and giving them In
return eight, ten or fifteen cents.
Compared to Shell Game.
Imagine a shell game which would be
like that, where you put down your dollar
and get back eight cents. You would not
allow such thing to stay In existence for
twenty-four hours. These people are un-
able to help themselves and their only
protection IS through legislation.
They look for II and now it is our duty
to give 1t to them. They speak of levying
extra assessments Is II just to collect ten
cents from a poor person every week, which
Is necessary to carry on the business, and
then to levy extra assessments on him?
They say we viii charge Mr.. Smith 81; Mr.
Smith you will pay 81 assessment. That IS
their way. That is all it means.
There is not company represented here
today that has ever levied one assessment.
Every policy Is issued with provision for
the payment of ), 10 or Is cents on Mon
day of each week. beginning with the day
of the policy. which is always issued on
Monday. The word Assessment is sim
ply there to evade the law. That is all
| there is to it, That is all the protection
that the insured gets from the insurer.
Here is one of the companies They Will
insure a man in the company
The agents go there and they collect the
money from him as the agent of "A Com
pany. The next time he comes he is the
president of B. Company. He says l
| have always done your collecting They
have transferred him to another company
The loss TO the insured is this Premiums
must be paid one year before they are
I HI r,I. y
they are entitled in case of death to have
the full benefits. In the meantime nine
tenths of them have been insured In an
other company that has just been started
Imagine a company going out to do busl-
ness with a capital of 81 600. That is the
kind of people that are before you today
and ask you to protect them and support
them. Is it right or just?'
Companies Represented.
The Commissioner asked how many COM
panies he represented. Mr.. Cave replied
that at this hearing he represented the
American Home Life Insurance Company,
and stated that all of the companies that
| were willing and able to protect their policy
holders are in favor of this bill, or some
thing better
Commissioner Macfarand asked If Mr..
Cave would except these companies that are
In favor of the bill from the more sweeping
statements of his remarks. Mr.. Cave stated
he would not.
Speaking of having no judgments or
debts he continued. Il know of one COM
pany that has two judgments against 1t,
and understand had five judgments. There
| Is a lawyer present now that has two judg-
ments against that company. They simply
| took another charter out of the safe.
If necessary can produce the evidence.
| The docket shows the judgment against the
company. When they went to levy against
| the office furniture they had clerk to
| swear he had an interest in the furniture.
| That man Is still conducting insurance bust
| ness and has procured license from Mr..
| Drake. / know that to be a fact
Commissioner Macfarland asked it, under
| the law, as it now stands, such a company
| is required to get license. Mr.. Cave re-
| plying that it Is a privilege they have IL
| they so desire.
Provokes Spirited Colloquy.
AS Mr.. Cave concluded Col. Hay jumped
up and said: Il have a statement in my
hand showing twenty-five claims that
the company he represents never paid.
People who live in glass houses should
not throw stones"
There was spirited colloquy. too, in
the middle of the floor between Mr.. Cave
| and Mr. Evans, who was associated with
Col. Hay.
Asking but moment as the hearing
was about to be concluded. William H.
Sholes, representing the Union Insurance
Company, said he wished to take the mid
die ground and added
want to d aee the f $1,000
the Union Insurance Company. We think
the policyholders should have protection.
two years. The object of the bill is good.
There are now eight or ten applicants
for licenses to do insurance.
ssThis Is not a healthy condition to have
these companies in the District. do not
think the money should be deposited in
the court, the clerk of the court has enough